You are locking the barn door after the horse is out. This has been the law for years. They have only added merchants to the list of enterprises who already report cash transactions over $10,000. That tells me the criminals have adjusted to the prior system. They used to buy cars to launder the cash. Now they are buying other stuff. I know you know this stuff and I know you know the argument about locks on the trunks of cars is a red herring. And I think you just like to argue....so you really must be a lawyer...:) Although we do not agree on the "reasonableness" of this law, thanks for sharing your opinions. You have given me things to think about.
I do like to argue. With FR, I get all the arguing I need or want.
This particular rule is not my biggest concern with the Patriot Act anyhow. There are some other search provisions that do truly offend the 4th Amendment. But I do think this starts getting close to the line. Here is my thinking:
If we all agree that it is reasonable for the Government to seek information on all cash purchases in excess of $10,000. What if they want to make it $1,000, do you have a problem with that? What about ALL cash transactions? What if they say all cash transactions over $10,000 require the seller to obtain a photo of the purchasor? Where does it stop? I am 100% for fighting terrorism and criminal behavior. What I see is solution which is not going to stop terrorism, but opens the door to futher monitoring of non-criminal tranactions by citizens. Also, in addition to those with an ulterior motive in spending cash there are many people who just plain like their privacy.