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Guest Post: The Long Arm Of Uncle Sam Just Got Longer
Submitted by Simon Black of Sovereign Man
The Long Arm Of Uncle Sam Just Got Longer
This one's hot off the presses. Just yesterday, our friends at the Financial Crimes Enforcement Network (FinCEN) issued a press release on its latest ruling related to foreign 'money service businesses (MSBs).'
An MSB is a private company that provides certain financial services like check cashing, money orders, title pawn, payday loans, travelers' checks, prepaid stored value cards, tax refund payments, etc.
Frequently, traditional MSB clients tended to be individuals without bank accounts or access to credit. But increasingly, the US government is looking at companies engaged in electronic payments, crowdsourced funding, and even microcredit finance as money service businesses.
The implication? They should all be regulated. Even if they're not even US companies.
That's right. FinCEN's latest ruling suggests a foreign MSB may now be subject to US regulations AND CRIMINAL PENALTIES "even if none of its agents, agencies, branches or offices are physically located in the United States."
FinCEN goes on to say that foreign-located MSBs must also comply with US anti-money laundering regulations and submit 'suspicious activity reports', i.e. assimilate into the US financial system and become yet another unpaid spy of the US government.
Further, foreign MSBs must register with FinCEN AND appoint a person residing in the United States as a legal representative in matters of compliance. If not, foreign MSBs risk severe civil and criminal penalties.
Needless to say, FinCEN came up with this 'rule' all on its own. There was no legislative process, no Congressional debate. Quite simply, a bunch of bureaucrats decided to create a new rule that, amazingly enough, has the same weight and gravitas as a law.
This is the way society is ordered today. There's one set of rules that Congress creates-- the laws. Then there's another set of rules that the President creates in his sole discretion-- executive orders and the occasional treaty. Then there's a third set of rules that are created by enforcement agencies like FinCEN-- regulations and policies.
This is the part that's truly extraordinary. Despite the 'free and democratic society' that most of us live in, these agencies are accountable to no one. They are not elected officials, they have no checks and balances, and there is little (if any) judicial oversight.
From the FBI's "administrative subpoenas" that gives the agency nearly totalitarian authority to commandeer the information of private companies, to the Justice Department's "policies" on civil asset forfeiture, to FinCEN's "rules" subjecting foreign companies to US criminal penalties, this is getting completely out of control.
With nearly 100% certainty, as you read this sentence right now, you are in violation of probably several such rules and regulations that you've never heard of. Even if you're not in the United States, as the FinCEN case clearly demonstrates.
Each of these rules has been conjured without your knowledge, put into effect without your consent, and tied to the most ridiculous civil and criminal penalties imaginable. You can't even fill out a passport application anymore without being threatened with a $10,000 fine.
In his comprehensive annals of the reigns of Tiberius and Nero, Roman historian Tacitus wrote, "corruptissima re publica plurimae leges." This is most often mistranslated as "the more corrupt a society, the more numerous its laws."
In truth, Tacitus was referring to Rome's history, and a more accurate translation is "laws were most numerous when the commonwealth was most corrupt."
Future historians will likely look back and say the same thing about our society. Except that we're not talking about laws. We're talking about the 'rules' of autonomous enforcement agencies that have extensive (and growing) police powers.
A better quote comes from a 1969 speech from William T. Gossett, then president of the American Bar Association:
"The rule of law can be wiped out in one misguided, however well-intentioned generation. And if that should happen, it could take a century of striving and ordeal to restore it, and then only at the cost of the lives of many good men and women."
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Ok, so your running an MSB in Crete. Does FinCen actually think they can enforce their control over your foreign business? LMAO
Who's going to stop them? You? How?
Two words: Drone. Bomb.
Unambiguous power grab with minimal use for enforcing laws. If financial crimes is your concern then existing jurisdiction and laws should be more than enough!
There is a date stamp on the mother fuckers heads in Washington DC, 2018.
THe laws of physics.
The globalist puppet-in-chief.
I note you too lag the shift key, thusly; printing "THe" instead of "The". Thank Budda on a stack of tikis - i thought a DHS key stroke logger "infection" was making me do that!
No. But it gives them a good excuse the put you on a watch list with the TSA, to detain you at the airport, and to extort you for 50% of your net worth to get out of the country again without a 2 year lay-over at Hotel Gitmo.
We live in a police state. And that's how they roll.
We need to take your freedom away to protect you from the fascists.
Are you a (Barrister or a Trader)? Give me some Vulture Bond ADVICE! I'll never junk you though. To each his/her own.
Buy high, sell low. Or is it the other way around? I forget.
Quit " teasing the hair due", and give your mind a chance! +1
Capital controls never work, the tighter they squeeze, the more will slip thru their fat fingers. TPTB are unbelieveable, all they are doing is creating a larger and larger underground economy.
Not if a larger monitoring apparatus is constructed, especially if it accomodates the unemployed into it.
"We need to take your freedom away to protect you from the fascists."
Let me fix that...
"...protect you from the terrorists."
As fascism is the word that can never be uttered by the ruling elite and their operating model of the merger of state and corporate (aka Bankster) power...
Obviously this is the kind of regulation setting up the seizure of customer accounts any time, any where...
Get ready dear Amerikan public to be JPMed... or MF Globaled... or Corzed....
The sooner it sinks in to everyone that its a tyranny and a police state, the better.
Certainly, but right now the fat freaks think they are being protected from terrorism by all this.
They'll be harnessed to wagons and pulling their jack-booted oppressors around in fine style and they'll still think it was all about protecting democracy from terrorism.
Not much to work with, right there.
A lot of them know better (and calling them names helps nothing), but they fear to look at it.
OT: can Tyler get the "OMG cat" video out again today? I need some cheering up.
yea what he said.....
signed
swiss bankers
Price predictions for gold / silver nicely put on one page:
http://realmoneytracker.com/blog/2012/02/2012-price-predictions-for-gold-and-silver/
ilion, is spamming all you're capable of?
First you were spamming for armadamarkets, and now you're spamming for realmoneytracker.
Do you have anything to contribute other than shilling for Estonian and Swedish scammers?
Sometimes Mr. Black does exaggerate a fair bit for effect. You might even call him a bullshitter.
If you actually read the regulations, they cover only "activities within the United States" and "arose in part from recognition that the Internet and other technological advances make it increasingly possible for persons to offer MSB services in the United States from foreign locations."
It was always true that foreigners are subject to US law while in the USA. Now it seems that foreigners who run internet businesses that provide services to Americans in the USA are considered to be in the USA for law enforcement purposes, regardless of where they actually sit. OK, that's interesting, but somewhat less than what Mr. Black implies. Services provided by foreigners to other foreigners overseas are not covered. (Though of course the CIA might blow you up on a purely extra-legal basis if they heard a rumor that you are financing terrorists.) Even services to Americans on foreign soil don't seem to be covered by these particular regulations. So calm down a little.
It's similar to saying that if you are caught hacking American computers from Elbonia, and you are ever reckless enough to come to the USA where the G-men can get you, you might spend some time in Club Fed.
Do not worry! It is the next step. Soon to follow.
The IRS just destroyed the oldest private bank in Switzerland, Wegelin. It was over 200 years old. And don't forget, it isn't just FINcen, it is every tax revenue office in the western world working together to fleece you and make sure there is now where you can hide.
Oh for Christ's sake, they are predators.
And the TBTF banks aren't predators?
All I ask for is even treatment, with the TBTF's getting the once over as rigorously as the small guys.....predators or not. Fat chance.
Nah, if you read into this it is the same continuation of the policies against the check cashing places stateside. Banks (Banksters) were worried about losing market share to them.
Remember the terms "unbanked" and "underbanked?"
Now with this microcredit stuff it would allow more people to function outside of their reach.
Same thing that was going on before the FED came online. Companies were saving and expanding through their own capital. Outside of the banking sphere.
You must stay in line, it is for your own protection.
The TBTFs=government. Public-private partnerships.
Fucking shame.
pods
I was thinking the same thing. I was also imagining that the microcredit stuff could/would eventually become parent to an entire underground banking system serving the needs of real people in a real underground economy. A bit like the Greek model that everyone laughs at. Well there is a reason they do it that way, and we're about to find out what that reason is. And when we do these microcredit services and underground economies will make infinitely more sense.
Microcredit is a globalist enterprise promoted by all of the globalist financial entities. The idea that allows the little guy to escape detection is just the bait in the trap. The only people who will use it successfully in that fashion will be connected to its owners/political supporters, and other CIA type scams.
If there is an occasional "little guy" who gets ahead, they will become the poster child for further regulation of microcredit industry. Global regulation, that is.
That's what a friend said to me about my wife,,,Why don't you giver her a treat, instead of the treatment??
If you have enough extra cash to make your Kiva donations....you must be a Domestic ******ist....and worthy of investigation
Which one? The goobermint or the loan sharks?
Thank Uncle Sam I'm half way EX-Patriated.
If you have the money, leave.
If my kids have an allowance does that make me a MSB?
Imma need to hire a lawyer.
Do you withhold taxes?
Um -- well you see --- oh snap
If my kids have an allowance does that make me a MSB?
As long as you do it via bank transfer from your account to theirs, you should be fine.
If you give them cash, you're carrying out an un-monitored transaction. This must NOT happen. That kind of thing has to stop, to protect us from terrorists.
If you give them gold or silver coins then you ARE a terrorist - you're (at the very least) trying to undermine the official US currency.
Why would ANYONE legitimately need to use cash or PM's these days? The government and financial institutions have provided you with a whole range of properly monitored cashless transaction mechanisms. PM's and cash are for people with something to HIDE. If you have nothing to hide, you have nothing to fear. Embrace the system - it's there for your (and every other LEGITIMATE person's) protection.
Imma need to hire a lawyer.
You won't need a lawyer because you will be detained without charge, let alone trial. NDAA FTW.
This makes me think I should "see something, say something" about all these damn places that have signs up saying $10 minimum transaction for credit cards. They are obviously trying to keep terrorism alive.
...or they want you to use a debit card instead.
...or they just want you to spend at least $10.
Yes the US Govts ever more lunatic fringe group, the FBI, by branding Gold Bugs terrorists have set themselves on a (collision) course with a number of US States currently progressing their own Gold and Silver coins as legal tender
so the US Govt goon squad have branded civilians, commercial companies and now US States a 'national security threat' which makes you wonder who this ever more extremist minority group in Washington thinks they represent given they're 'at War' with ever greater numbers of (sane) Americans
Stop Paying Your Taxes
(don't feed the morons of Govt)
AAPL div announcement coming tonight. Should be good to get spx to 1380
punxsutawney phil
Thanks for posting that. It explains a lot about some of the price movements today.
DavidC
The US as an entity (not its people) is out of control.
DavidC
Agreed. The people are in control. Or they're being controlled, not sure which one.
Don't beat around the bush.
The corporation named THE UNITED STATES OF AMERICA is out of control.
pods
I wonder how long before they start naming countries like they do football stadiums, and just slap the corporate logo on...
The Goldman Sachs United States of America
The Deutsche Bank German Repulic
The UBS United Kingdom
And today we have a great match-up, as the submarine zeros in its crosshairs on the oil rig! But first, our Global Anthem! (credit to Roger Waters)
It's all about making the "law" as vague and convoluted as possible, so everyone is doing something illegal. That way they have the "authority" to nab you whenever it's convenient for them.
I'm sorry sir, but you are not allowed under certain provisions of the NDAA to say what you just said in a public space. Please report yourself to the nearest DHS franchise station for corrective treatments.
They had it figured out 2,500+ years ago...bitchez!
Govern the country by being straightforward.
Wage war by being crafty.
Win all under heaven by not meddling.
How do I know that this is so?
By what is within me.
The more restrictions there are, the poorer are the people.
The more pointed the people's weapons,
the more disorder there is in the country.
The more ingenious and clever the people,
the more strange the contrivances that appear.
The more laws and edicts that are posted,
the more thieves and robbers that arise.
Hence an Old One has said:
I act without striving and the people transform themselves.
I love stillness and the people straighten themselves.
I do not meddle and the people prosper by themselves.
I am free from desires and the people themselves
return to the simplicity of the Uncarved Block.
-------------------------------------------------------------------------------------------
Why are the people starving?
Because their leaders eat up too much of the tax-grain;
that is why the people are starving.
Why are the people difficult to govern?
Because their leaders interfere;
that is why the people are difficult to govern.
Why do the people treat death lightly.
Because their leaders are so grossly absorbed in the pursuit of living;
that is why the people treat death lightly.
Indeed, it is wiser to ignore life altogether
than to place too high a value on it.
I just can't take any more news today. This is all just too maddening and disheartening.
I'm gonna make myself ill if I don't walk away for a while. I may never stop puking.
I think it's time to play some music, crack open a beer and spark one up. My sanity depends on this.
When the shoe drops it will be sudden, and it will be an iron jack boot.
Why was Jack wearing Iron boots? Someone please explain this to me. Please?
The better to crush you with, my dear.
Well I hope that if you have kids, your bag lunches are acceptable to "The Party."
http://www.wral.com/news/local/story/10731857/
Play some humility, crack open a bible and hope the spark of the Holy Spirit fills you. I need Christ Jesus more than anything.
But thou, O LORD, [art] a shield for me; my glory, and the lifter up of mine head.
Spammer. It's funny how some people's pseudonym suits them down to the ground.
Spammer?
So when someone suggests that faith might play a role in how tough times are dealt with you immediately assail them for it?
pods
Hopium much? Yeah, it's spam. It's everywhere it shouldn't be.
Agreed. I find yours very fitting for someone who mischaracterizes those words as spam.
See? Your's is representatively perfect.
All I get from religious nuts is, "I need a crutch"." I wanna be saved, I tell you. Save meeee!!!! Oh, shit god, (or any other current saviour out there). where were you when you should have been saving us?"
Stone age monotonic chanters. Faith-you-can-believe-in bullshit dropped on folk as strategy. Shheeeeiiett.
You are my shield, my glory. For fuck's sake.
Oh, what's that you see on the front of the dollar? Oh yeah, In God We Trust. Thanks god. Oxymoronic neon. Faith based money for a faith based nation. Funny.
The US is becoming more and more delusional about the reach of its power and status in the world. Either that or reality is beginning to hit and complete panic is taking over.
thats right, theyve got the STRUCTURE in place for police state USA, but now they have the tricky little issue of disarming everyone, making them actual slaves. Maybe the wargame results arent so in their favor. Its very easy to plan it. much more difficult to carry it out.
The US military would have no trouble at all rolling over all the gun owners in Amerika.
However I think that is probably the part of the wargame model that got a little dicey -- the soldiers wouldn't march.
I suspect they are already at work on that part. In ancient Rome, they wouldn't let hardened troups return from the hinterlands for fear they could be redeployed internally for political purposes. Well the US military has gone out of their way to start as many little wars as they can, send as many troups and reservists into combat as they can, and then bring them home to no job and no hope.
Wonder how well the re-indoctrination program is going? Wonder if we'll ever see our boys in flack vests and night goggles going door-to-door on Main Street?
Blu, just crunch the numbers. Active,reserve, and LEO. Do those odds really look like a "roll-over" force to you?
They were trying to take care of the disarming problem with Fast and Furious, but they got caught. Now they'll seek another way. My gut tells me The Marxist-in-Chief will simply declare a fake emergeny and claim he has executive power to disarm the People. Then cook your popcorn and set out your lawn chairs for the Main Event.
Tricky? Just wait until they've added two zeros to the price of everything, and many people will be forced to disarm their own self in an effort to remain solvent.
It's just the timeless game of the strong hands shaking out the weak. Sure there are some that will be strong enough to survive the economic shake-out, but they are already being villanized as greedy, evil-doer terrorist types.
Like you said, the structure is in place. All they have to do now is wait until we've exhausted our reserves.
agent default reserved a spot in the Guantanamo Retirement Villa when saying:
It's just the flailing of a falling giant. If you can get out from under it without it falling on you, you should be fine.
Oops, I guess I just reserved myself a spot at Guantanamo Retirement Villa as well.
HAHAHaha.... LMAO!
oops... d@mn...
See you all in a FEMA camp.
Yep - you, me, and this guy
http://memerial.net/3940-vote-ron-paul
Can you save me something nice near the river? 3 Bedroom maybe? And no hardwood floors...those are such a pain in the butt.
Do you have your discreet little Zero Hedge tattoo yet?
Excuse me, but I believe you mean the Freedom Emerging in Mid-America camps!
Nice to see our government officials like the DOJ and Secret Service, hard at work, going after poker payment processors undercover with our tax dollars.
http://t.co/cfqe0cVB
This does NOT bode well for sportsbooks and poker sites still operating.
Yet Corzine walks a free man.
#noose.
Waiting for the day Obama makes a law letting him make any law he wants.
Well hes already done that thru hundreds of executive orders. He's already stated he no longer needs congress for anything.
SOPA, PIPA, NDAA, and now this? The power grab is brazen, and accelerating. We can't be far away from the main event.
Look at the internet just recently, places like Youtube, its total martial law over there you cant do anything.
The " Main Event" ? Have faith "O" ye lost soul! In your darkest hour, you shall see truth. This S..T was spun from every TOMB you warship!
It's called 'govmt by appt" aka 'the shadow govmt'. Been around in the US Corp since the Civil War.
Thr Truth will set you free, if you can keep it.
With nearly 100% certainty, as you read this sentence right now, you are in violation of probably several such rules and regulations that you've never heard of. Even if you're not in the United States, as the FinCEN case clearly demonstrates.
When we get to the point where almost everything is illegal, selective enforcement will make the system indistinquishable from a dictatorship.
When simply getting up in the morning, reading the news and commenting on it means youve probably committed 10 felonies, then whats the difference between that and a jackboot tyanny? Nothing.
This one is for you SheepDog Judas Priest !
You might as well begin to put some action in your life....
Just watch out for the Electric Eye.
Selective Enforcement,Selective Prosecution's,Selective investigations as we alway's had.this is 100% Jackboot mentality.
When?
Kinda like crossing the " Rail Road" , tracks on a daily run PODS? And getting the riot act for it!
Just read today there are new rules for driving on the beach in the OBX (Hatteras). You have to pay a $50 fee and watch a 7 minute video to learn how. I thought to myself, why not either or?
Your fee will go towards repairing damage to the beach that you will avoid by watching the movie.
Always more tribute. Even the voluntary coastal license is now mandatory, after they played "just the tip."
I bet you that within 10 years that cops will have credit card swipers and offer an on the spot discount and no points for pleading guilty for violations and paying the fine.
pods
I took a decision some time ago that after 40 years of occasional visits to the USA I will not enter or transit through the USA again. I have not committed any crimes - I just don't like the place any more.
after such announce ALL FINANCIAL FIRMS THAT ARE LOCATED IN COUNTRIES which in possession of nuclear weapons must at least double.. I'm not joking..
and especially not in Anglo=Sax realm.
http://en.wikipedia.org/wiki/List_of_states_with_nuclear_weapons
Russia
China (+ HongKong/Singapur )
India
alx
that's also why the Poker sites had to go...too easy to transfer money without trail and tribute.
They are all now licker stores
I tried to upload a video the other day to Youtube, they had it on 'under review' for 48 hours, then when they finally said its OK to upload, a glitch prevented it....WTF how is this any different than China!
Judge Napolitano...'cancelled'....too much truthiness.
Steven Colbert....'under review'....too much truthiness.
Its all goin down people, just 1 big event 1 morning and all this is gone.
for the Judge to be able to slip that comment in shows that it is not too late,imo.
His commentary screams that the layer just below the top has had enough too.
I like that, "well-intentioned generation." The US gov hasn't even started taking . . . it's going to take everything you fools got, including your soul and all of your birthday cake. As Mr. Carlin so eloquently put, "Rights are an idea, they're just imaginary." http://bicandmac.blogspot.com/2011/10/chapter-one.html
One world government, bitchez!
People for years said 'Oh youre all crazy with your talk of 1 word govt'...now everyones like 'Oh, now we see what you meant its here now'. Yup.
As defacto 'King of the World' the US has every right to lecture, cajole, and finally threaten foreign corporations, indict people that never visited this country, blow up anyone, anywhere (and anyone else within 50 yards) if they can be declared enemies, plot the removal of foreign leaders and remind them to thank us for these services.
We had better invest heavily in our 'Defense' Department, we're going to need it.
IIRC , Germany already implemented something similar last year .. at least , it was discussed , can't remember whether it was passed into law.
( I think it was )
It read something like :
"All companies with 9 or more employess must appoint or hire someone to be in charge of 'money laundering prevention'"
i.e. you now have to - yourself - pay for the Govt. spies that are spying on you !
;-)
Coming to a town near you...
Building a resilient financial system | pg 13-16
**Full presentation**
I enjoyed my visit to New York 10 years ago, many friendly local people were very helpful to us tourists!
Also, I meet many good American people on holidays in the Caribbean.
Sadly, until the US experiences regime change I would not dream of visiting your shores, and I wish you all good luck. Us too I guess...
Yep, the American people are generally pretty good sorts. Their rulers, however, are pompous monsters.
As the system unravels we will see more and more of these laws. But who is going to enforce them all is the question. Perhaps 70% of the people will be employed by the US government so they can keep an eye on the remaining 30%.
theyve reached maximum density for 'new laws'...WTF we'll just see some terrible event here 1 morning and it will all be gone.
Yo Tyler, you gotta get figure out a way to chart authoritarian measures...cause that bitch is about to go parabolic
Hell... we need need an investment instrument that tracks authoritarian measures. Now that's a paper certificate I'd think about buying.
"investment instrument that tracks authoritarian measures"
Gold....
Hahaha... +1. Beat me to it.
correlation coefficient: r=1
How about criminal penalties for the banksters that ARE in the US!
There are regulations in the finance sector? Are we sure about that because I just saw John Corzine walking down the street so I don't think there are any.
His indictment was accidentally written in Austrian; so they're still trying to find a judge who can read it.
U, U, U, U, U.S world order.
At a certain point we are all going to agree with you
Furthermore I think that point may be now.
Ha haaaa. Its not that the government is squeaky clean and just wants the criminals out. No, its just that the goverment wants ITS OWN, sanctioned criminals, controlling the world wide financial system. You want proof? Corzine is still free! The mafia is still in business! The drug trade has no recession!
and this too
http://www.reuters.com/article/2012/02/16/us-usa-tax-swiss-wegelin-idUST...
Yep, we bully everybody these days. A Swiss bank doing what Swiss banks do best, and doing that in their home country? That cannot be. We want our own banks laundering drug billions.
They could walk down the street and arrest Corzine but they choose to fuck with foreign entities. Surreal
I recently know of someone, a US citizen, who was traveling abroad and was unable to make a wire transfer from one US bank to another US bank more-or-less because he wasn't standing on US soil. His bank said they couldn't do it for "security reasons". I'm wondering if that financial reform monstrosity isn't just loaded with all sort of little ticking time bombs that incrementally ratchet up the restrictions on peoples' wealth.
we'd like to know a litte bit about you for our files
we'd like to help you learn to help yourself
Look around you, all you see are sympathetic eyes
Stroll around the grounds until you feel at home
We all know history repeats.. we all know this is rotten Rome in its dying days.. we all know this tyranny will become ever more abusive... so when are we going to get with the program?
Don't just sit there, moaning like a turkey, letting this shitshow called Govt go any further
Stop Paying Your Taxes
(don't feed/sponsor these suckers)
Zero Tax = Zero Govt
Suggest you do it by either quitting your job, or moving abroad.
I have a feeling they will be sending people to the gas chambers for non-payment before too long.
the key to this ever more toxic political puzzle is taxation
people are pissing their pants of "Govt structures being put in place" and the Police State ..well they forget the monetary thread the whole of Govt hangs on is thieving peoples labour (tax) ...people fear but they're paying (tax) for their own suppresion (oh the irony)
'The People' can stop Govt stone cold dead anytime they want...
just Stop Paying Your Taxes
Game Over Tyranny
They'll just print the money, and take all your existing wealth by lien.
Not if it is in gold or silver.
If you live in states 51 thru 57, you don't have to pay any taxes. But you are mandated to speak in Austrian at all times.
bad advice. Just stop feeding your wants. Live a simple life. Minimize your needs. Monster will die of hunger.
End taxes and you End the Fed
End Tax and you finish all the elite parasites that live off the State (ie. taxpayer)
..everyone from monopolists (Microshite, Big Oil, Big Pharma & Healthcare etc etc) who depend on the US Govt for their (taxpayer funded) protection rackets of Law, legislation, market intervention, property laws, the money/info gathering source par excellence (IRS) etc
..to all the big WS Banks, Military Industrial Complex, the rotten list of taxpayer dependent suckers goes on and on
..and of course that most massive destroyer of wealth, the socialist State (welfare, foreign aid etc)
all hanging on a fragile personal thread of taxpayers consent (or not) to continue paying into this diseased ever more deranged and sick monster called Govt
Stop Paying Your Taxes
(don't feed the retards)
The ultimate result is that while all who read or comment here are unknowingly committing criminal acts, the bureaucrats who create these rules cannot enforce them except by accident. That is dangerous in the extreme but it is also part of the whole package on the toboggan ride to hell we are riding. More rules, mountains of counterfeit money, more debt and - coming soon to your neighborhood - lots more corruption. This will lead in turn to more of the above and so on until the whole thing collapses. A cynic might want to encourage this process so as to finally get to the end and start over.
This also coincides with laws recently passed that allows armed U.S. authorities to cross the border in pursuit of criminals.
Doesn't this latest banking development mean that a Hitler parody about being frustrated with Wegelin is about to appear?
Usually, I jump in with both feet and agree with mostly everything posted here. However, in this instance, the adverse reaction this this new rule, reaction is misplaced. I'm in Massachusetts and in this state we have MGL and CMR for law: Mass General Law and Code of Mass Regulations. The General Laws are directed passed by the state legislature. The CMR's are promulgated by the various divisions of state government to which authority of various things has been delegated by statute. This structure allows, within reasonable limits, rules with penalties to be enacted by part of the government other than the Legislature. In and of itself, this concept is not terribly bad. The problem comes in when the aggregate amount of new promulgations, across all levels of government, starts to grow exponentially because promulgation authority is not kept in check. With too many rules-makers out there, it's impossible to keep up.
But regarding this new money service rule, it's not actually that unreasonable. What the rule says is basically this: If your company want to have financial transaction order-flow in the USA electronic financial networks, you must register with and obey the rules, regardless of where you are located.
To see the reasonableness of this rule, think about this: If you are in a border-city in USA on Canada border, and your business is livestock breeding and livestock auctions, you have to comply with various USDA and other regulations. Now, if someone across the border wants to run their livestock through your auctions, they also have to comply wiht whatever USA regulations are in place, or they can't bring their livestock in.
It doesn't make sense for USA to leave one end of an international payments pipeline unsupervised. When guest come to my home, I want to know who they are. When foreigners inject $$ into USA payment networks, it makes sense that various records keeping standards must be met. That's all this rule states.
On the other hand, there is a very serious legal issue all of us should be alarmed about: The elevation of mundane violations to Felony status. Too many people are being charged with Felonies in the USA and many times, it's because the larceny and destruction of property dollar thresholds are not too low. In Massachusetts, if you pass a bad check -evn by mistake, $250 or larger, you can be charged with a felony. Or, if you are a kid and you get in a tussle with your friend and his iPhone breaks, you can be charged with malicious destruction over $250 - which is also a felony.
B.S.
Government's duty is only one and that is to collect tax and spend it for the well being of the masses..
Take a tour. Looks very secure and I highly doubt any hacker could gain access. Wonder what happens if the backup SU is bribed at the right price.
http://bsaefiling.fincen.treas.gov/main.html
/sarc
What i found interesting. Appears to be another government clusterfuck program seeded for failure.
http://www.fincen.gov/financial_institutions/msb/msbstateselector.html
I think in protest I am going to a StarBucks and buying an expresso WITH CASH while wearing a trenchcoat with the lapel up and dark sunglasses. Completely anonymous!
Just try to pay for internet access at some anonymous location with cash and you'll be off to GITMO
It's one thing to write an administrative edict, and quite another to enforce it: just ask Bank Wegelin [CHF]. The whole world will pay lip service to it, but nobody outside the US will help these asshats enforce it. Nobody. It's a CYA moment for FINCEN - let's go fishing and see if we can catch anything in our net. Fuck FINCEN and Chalky Soetero.
http://vegasxau.blogspot.com
Methinks you don't like our 44th White President. Maybe you need a visit from the Truth Squad.
It's just amazing. They are going after Jose and Jaun for sending a few dollars back to Honduras & Mexico, but John Corzine gets to steal 1.5 billion of customer gold & cash for JP Morgan and he gets a walk.
Well, with each new law consisting of 2,500 pages of new stuff that nobody's bothered to read, it should come as no surprise that the end game is in process. A lot of that stuff has been on the back burner for 100 years while they waited for an opportunity to spring the trap. Every day now, another one of those bills releases anoter "ticking time bomb" of legislation on us, and every day the burden is just a little greater, until one day, one by one, the sheeple will just blink with a blank stare and proclaim their love for Big Brother.
I wonder if a 21st century John Galt would convince everyone to strike back at the system by maxing out every credit card they could get their hands on, and then simply not pay the bills? The collection agency may come around - let them. Heck, it's not as if personal credit ratings are going to matter anymore the way the system is going right now.
Simon, you forgot one:
"This is the way society is ordered today. There's one set of rules that Congress creates-- the laws. Then there's another set of rules that the President creates in his sole discretion-- executive orders and the occasional treaty. Then there's a third set of rules that are created by enforcement agencies like FinCEN-- regulations and policies. "
The fourth way is the activist judiciary that creates "laws", not to mention "rights", out of whole cloth.
Now that THAT is out of the way, FinCEN can turn its' attention to Jon Corzine.
(Just kidding....)
Jon Whorezine. There, fixed it.
well, Uncle Adolf Sam is coming to town and whatever you do.... h'll have plenty of reasons to lock you up wherever deemed appropriate.