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Guest Post: Why 308,127,404 Americans Are Going To Get Hosed
Submitted by Simon Black from Sovereign Man
Why 308,127,404 Americans Are Going To Get Hosed
Last week, the US government’s Financial Crimes Enforcement Network (FinCEN), an agency of the US Treasury Department, published its 2011 annual report. There are a few numbers that are pretty startling.
We’ve discussed before that FinCEN is the executive agency tasked with ensuring that every US banker is an unpaid government spy through Suspicious Activity Reports.
A Suspicious Activity Report, or SAR, includes details of any transaction that may be deemed ‘suspicious’. Naturally, there’s no clear guidance on what is/is not considered suspicious. Banks, brokerages, money service businesses, precious metals dealers… even casinos are required by law to fill them out.
If you withdraw an unusual amount of cash from your bank account, that could be deemed suspicious. If you set up a new payee in your billpay service, that could be deemed suspicious. Anything and everything is fair game.
Banks and other businesses who do not fill out SARs face hefty penalties, including imprisonment. If they disclose to a customer that s/he is the subject of a SAR, they have hefty penalties, including imprisonment.
When push comes to shove and they have to choose between a nasty penalty, or submitting a SAR about your unusual cash withdrawal, which option do you think they’ll pick?
Unsurprisingly, nearly 1.5 million ‘suspicious activity reports’ were filed across the US banking system in 2011, well over twice the number reported in 2004. On top of this, there were an additional -14.8 million- ‘currency transaction reports’ filed in 2011, a 6% jump over last year.
It’s an unfortunate trend which highlights not only the end of financial privacy, but also the massive amount of data being collected by the government to keep tabs on its citizens.
According to this year’s report, a full 36 distinct federal law enforcement agencies requested information from FinCEN (and even more who haven’t). Three dozen. And that doesn’t include state or local law enforcement.
That there are this many federal law enforcement agencies to begin with is mind-boggling… let alone the thought that some knucklehead at the Fish and Wildlife Service has access to bank records.
This is one reason why international diversification is so important– the likelihood of such collection and monitoring is greatly reduced when you bank overseas. Moreover, should one of these dozens of agencies or courts decide that your ‘suspicious activity’ warrants locking you out of your accounts, they have zero jurisdiction overseas.
This is a common tactic in the US; financial activity is one of the many, many areas with a ‘guilty until proven innocent’ burden of proof. You don’t even need to be doing anything wrong (which is the case most of the time this happens) for one of these agencies to freeze your account ‘pending investigation’ with a simple phone call. Good luck getting it unfrozen.
They don’t have that kind of pull overseas. That’s why we’ve been writing for years to more than 100,000 subscribers that the most important thing you can do for your financial security is to have a foreign bank account, no matter where you’re from. Planting a ‘banking flag’ outside of your home country is a very prudent, simple insurance policy.
More and more people are starting to wake up to this reality. FinCEN also tracks the Report of Foreign Bank Account and Financial Accounts, commonly known as the FBAR. This form is required to be submitted by any US taxpayer with foreign financial accounts whose aggregate total exceeded $10,000 at any point during the year.
For example, if you have a bank account in Uruguay with $9,000, and a small brokerage account in Panama with $2,000, you would have to submit the form by June 30th of each year to the Treasury Department.
In 2011, 618,134 US taxpayers filed an FBAR (which would have covered the calendar year 2010). This is more than a 100% increase over the filings just two years ago… a huge jump. I suspect the 2012 figures will show similar growth.
As a percentage of the population, though, the number is embryonic. It still leaves 308,127,404 Americans who have no backup plan, no insurance policy for their hard-earned savings. In other words, 99.8% of the population holds all of their money in an insolvent, corrupted, government-controlled, unsecured (though cleverly disguised) banking system.
Are you one of the 0.2% who is paying attention? If not, what’s holding you back? I’d like to know.
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big brother bitchez...
Fuck 'em, and their law.
We are getting closer to the end of awkward.
pods
OGOLFER I DEI GRATIA CAESAR.
CASH TRANSACTIONS BITCHES - While you can!
Cash transactions over 1000 euros are now illegal in Italy. AGAINST THE LAW. The limit will soon go down to 300.
Coming soon to a "free market democracy" near you.
Ron Paul 2012.
i know i am way late to this party {article}...but it seems our best interest is to give them what they want...they want all of us to be suspected terrorist...lets give it to them...if we get their numbers a little higher than their info is useless...if we all turn ourselves in as suspicious what do they have...if we tell the bank teller, "dont forget your sars..have a nice day"...these people truly are morons...even if they were evil, when you apply simple math to their logic it always blows up at about the third step.....they remind me of the 900 lb. person..really took you to 900 lbs before you figured you were fucked....their moment will be when they have 300,000,000 million suspects, including themselves....their moment of zen...
Everyone knows that only illegals, nutcases, and i-talians pay in cash.
Dude, I got totally fucked when my SOB gov't contractor boss fired me on the spot because I told them the Emperor had no Clothes. Fuck them.
Forget Italy.
CASH Transactions BANNED In AMERICA!This summer, the State Legislature and Governor of Louisiana passed a law that bans individuals and businesses from transacting in cash if they are considered a “secondhand dealer”. House Bill 195 of the 2011 Regular Session (Act 389) broadly defines a secondhand dealer to include “… Anyone, other than a non-profit entity, who buys, sells, trades in or otherwise acquires or disposes of junk or used or secondhand property more frequently than once per month from any other person, other than a non-profit entity, shall be deemed as being in the business of a secondhand dealer. ” The law then states that “A secondhand dealer shall not enter into any cash transactions in payment for the purchase of junk or used or secondhand property.
http://www.shtfplan.com/headline-news/cash-transactions-banned-by-louisi...
I'm afraid to vote you up, so I'll give you a +0 instead.
Mmmph!
prodigy... great music....what ever happened to them, anyway??
Apparently tried and imprisoned for "their law", never to be heard of again. Could have had a great future that band, Music for a jilted generation certainly created a whole new genre of eletronic music.
Prodigy were lamers -- they only had one real hit, and 90% of the vibe of that tune was from the Max romeo sample they used. It's one thing to borrow an idea, it's another to completely steal the original recording.
smack ma BITCH up
Exactly. So I withdraw a bunch in cash......file a SAR.....I don't give a fuck. Some govt weenie asks me, I'll tell him it's none of his damn business WHAT I did with it.
...Unsurprisingly, nearly 1.5 million ‘suspicious activity reports’ were filed across the US banking system in 2011, well over twice the number reported in 2004. On top of this, there were an additional -14.8 million- ‘currency transaction reports’ filed in 2011, a 6% jump over last year.
This is actually good news. There's no way they can meaningfully process all that information.
The more you tighten your report requirements, Bammy, the more transactions will slip through your fingers.
Not after we demonstrate the power of this central banking cartel. In a way, you have determined the choice of the currency that'll be destroyed first.
+1 greenie for the Star Wars reference
And when they discover they can't process the info, they move to summary arrest? And then when jails are full...what? Firing squads?
And here's how to fuck 'em - file an SAR everyday on 1) your 80 year old neighbor whose dog is shitting on your lawn, 2) the bank teller who's wearing a head scarf, 3) the car salesman who has an Arabic-sounding last name - overwhelm the system, bring down the system.
But be a good american and report EVERYTHING.
Baaaaaaaaaaaa - I am the sheeple.
It's not that bad...
To many people have been complaining that they are the 99%
So now they get to be the 99,8%!
The more the merrier!
Now everybody will be broke!
NO MORE 1%!!!
+1
Yes, that's where we are going. The 0.2% do not have (in aggregate) the money to feed the system. They will be coming for the 1% soon (except for the connected...), then the 10%, then the rest.
of course, those few with money and power will gladly throw those with only money (and no power) to the angry masses.... hoping to quietly slip way to hide under a rock.
-- If you see someone buying large amounts of non-perishable food, say something. --
Big 'Sis & DHS
"We’ve discussed before that FinCEN is the executive agency tasked with ensuring that every US banker is an unpaid government spy through Suspicious Activity Reports."
Well, actually, no. The FinCEN, an FIU (or financial intelligence unit) represents a network of 80 FIUs, out of 95 offshore financial centers globally, or tax havens, which the USA is to many foreigners, is chiefly about the control of money laundering.
The FinCENs or FIUs elsewhere, have been set up and/or coordinated by the Egmont Group, in collaboration or by contract with the IMF --- how does one explain FIUs situated at the world's offshore finance centers, or tax havens???
The change in the bank reporting act in the '80s, which somehow snuck through congress, ensured that NAFTA would have to be passed so that the Mexican banks could be privatized and the multinational banks could rush in to recapture the lost drug cartel money laundering which had fled to Mexican banks after those changes to the bank reporting legislation.
David Rockefeller's Council on the Americas lobbied on behalf of NAFTA, and thus it came to pass. Within a year of the passage of NAFTA (championed by Bush #1, all the republicons, and Clinton and Gore), 90% of the Mexican banks were privatized and foreign-owned.
Surprise....surprise, as old Gomer Pyle would exclaim.
History, isn't it fundmanetal? (Read Ravi Batra's Greenspan's Fraud for some background on this.)
"how does one explain FIUs situated at the world's offshore finance centers, or tax havens???"
A cushy job in a sunny place. With a pension (for now).
Ron Paul or this shit is never going to stop.
TAKE THE PLEDGE
I'm pledging to convert 10 other people to Ron Paul voters. I'm starting with extended family members, educating them one at a time. Independents and free thinkers are first. Then come the "conservative' Republicans, Reagan voter types. Last are the Lefties. Those I convert by asking whether they would support a candidate who is RELIABLY:
Anti-war
Anti-corporatist
Anti-surveillance
Anti-bank crime
Anti-prohibition
TAKE THE PLEDGE!
It's a shame you can't ask...
Anti-gay
then RP=President guaranteed.
No matter how bad Obama gets, probably 70% of the left will never vote for RP due to political correctness. It's their religion. The gay thing and the newsletters will be the primary deal-breakers for Ron Paul. I check DailyKos every so often and they hate RP, even going so far as to blame him for the crash of '08. Worse, Kossacks do not see this year's even bigger shit-meteor hurtling towards us, they like the idea of printing money to throw at unfixable problems or take care of people who often couldn't be bothered to take care of themselves, they don't see the government as hopelessly corrupt, and they think that any corruption can be solved by more regulations from the legislative sausage mill. There are still many nauseating cock-slurping paeans about how great Obama is because he supports gay blah blah SEIU blah blah gun control blah blah sustainable affordable blah blah close Gitmo blah blah pay their fair share blah blah blah blah save the fucking whales. Sooner or later, the left will learn their civics lessons in a FEMA camp.
The left are just like the fundies under Bush. Easy to manipulate with push-button ideological blather and irrelevant bugaboos. They will follow their false Messiah off the cliff.
There's a very small and very loud group of folks who'll drown out a lot--if you let them. If you ignore them, they don't matter at all. It would be easy to make bad inferences about virtually any crowd here, too. It makes more sense to worry about the issues than the people. It shouldn't be that it takes only a half-dozen idiots to keep you from achieving your aims.
Yeah, on further consideration I'd say you're right. The left has two broad factions that don't always get along: The activists/socialists/PC memebots, and the hippies/libertines/new agers. The latter are natural allies, and since they tend to keep a low profile, there are probably more of them than it seems. The trouble is reaching them and getting them out to vote (for RP, of course).
I'm on board! I converted my wife and about a dozen co-workers. I just received my Ron Paul 2012 and End the Fed bumper stickers and am displaying them proudly. Go Dr. Paul!
Buffalo Ben Bernank says:
https://horiwood.files.wordpress.com/2010/09/new-zealand-lambs-are-fed.jpg
It rubs the lotion on its skin
...or else it gets the hose again.
Why do corporations get to keep their billions overseas ?
I don't why wonder at all. Wouldn't you?
When you have billions, you own the legal system in the US.
As a corporation, I'll gladly answer the question. Errrr... how do I start? OK. Here it goes: overseas for whom? I mean, it all depends on your perspective, right? Sometimes our, I mean my, my billions are overseas and other times they are domestic. You can't generalize. My point is: these billions are always on the move....
Yes indeed. So true.
It's all about finding synergies that correspond to worlds best practice while maximizing opportunities for stakeholders and other parties.
All being in accordance with the latest internationally agreed regulatory framework.
Next question......
uhhh, because they're people?
http://www.youtube.com/watch?v=xD-zuuxvWJg&feature=endscreen&NR=1
Who do you think shows up to those $45,000 a plate "round table discussion" bribery extortion protection money election fund dinners?
How is that TPS (Treasury's People Snooping) report coming along?
Relax. Just another make-work project for bankers and federal employees.
If it is for our protection, then what is the number of criminals, terrorists, and psychopaths whose crimes have been foiled because the government knew their whereabouts, opinions, or spending patterns? My guess is zero, but I might be off by a few. Unfortunately, no government wonk wants to be out doing actual field work...investigating...way too hard. They'd rather review some meaningless report and surf tranny porn.
My all time favorite movie :)
I must heve seen it a dozen times already and it still cracks me up
"Yes, I also am not a poo-sy" -Samir Nagheenanajar.
Hey Peter. Watch out for the cornhole bud.
The Bernank is running a Superman III scam.
The feds are figuring out which portion of the population will end up in Soylent Green food products. I know I am on the list.
http://www.youtube.com/watch?v=SVpN312hYgU
It's not just that they would rather watch midget tranny porn on the taxpayer's dime. It's because the government is run by sociopaths, for the benefit of sociopaths, and all sociopaths secretly cooperate with each other even if they don't know it. Government sociopaths don't want to prosecute anyone who commits crimes against the sheeple because they don't view these as crimes, just as we don't view slaughering livestock as a crime. In fact, a steady barrage of crimes against the sheeple makes them bleat for more centralized control, which allows for more exploitation, etc. The only real crimes are defending yourself from sociopaths or exposing the nature of the system they have created.
Soon, the government will know your hemroid grows bigger before your wife knows.
1. And that's only because of where they're looking to put something.
2. I hope she doesn't mistake my hemmroid for something else.
1. And that's only because of where they're looking to put something.
2. I hope she doesn't mistake my hemmroid for something else.
And American 'representatives' passed the laws to do this.
If you like this, you'll just love the ID chip implants!
Those goons on capital hill are good for nothing if you think THEY will somehow make sure everything will be kept legit. They banksters have taken over the country. Nobody dares stand in their way because at the flick of a switch they can zap all the money right out of the country. Think Hang Paulson & GW. It will get very ugly one day.
--FinCEN Complaint Log--
Entry Date 11-13-2012:
Marked for investigation.
cc: DHS
cc: FEMA
cc: Pre-Cog HQ
bcc: Blythe Masters
I wish you hadn't posted this... too sardonic even by my standards...
"Fizz" I can understand. I do hope they never come looking for my jizz though. Very embarassing I suspect.
Those SEC boys are totally into that kind of action, especially if you look like a midget mexican wrestler...
Correction: that would be "naked midget mexican wrestler..."
.further correction: "naked tranny midget Mexican wrestler"
retracted repeat joke
Buying physical PMs and canned beans are obviously "suspicious" transactions. Same as it ever was.
Just gotta file an FuBAR and things will be fine.
Promise.
pods
Pods,
There's a new rule this year allowing gatekeepers to file a shortened form BOHICA, also, in place of the longer form FuBAR.
BOHICA forms are to be completed in cases where suspects are not documented as repeat offenders. (Utilization of specified interrogation techniques can be useful in determining the necessary quantity of cycles needed to ensure future compliance)
FuBAR forms are to be completed in all cases where subject has been deemed to be a repeat offender (directives contained within should be implemented as well)
"canned beans".....they may ensnare quite a few folks here in CA some of whom surprisingly might turn out to be illegal immigrants....
For me, it helps to be pretty much broke. If you have no money to save, none to worry about!
Out of jest, this is why I've setup prepaid gift cards for my sportsbook/online poker transactions. Completely secure, les transparent, and NOT linked to my major bank account.
The increase in FBAR filings is up because the IRS has increased the fines and jail time and added more people to enforce the filings if you didn't give in to their amnesty agreements or start filing. Why would the writer deliberately avoid mentioning this?
Who cares...Americans have been ball less and brainwashed for years now (90%) If they weren't Corzine would have been hung, Ron Paul would be President and there would be no ammo or silver coins on the shelves.
Wanna bet no one filled out anything for Corzine's, uh, activities?
Wrong, Gary Gensler over at the CFTC filled in his name on those checks they stealthily passed to him.....
15,000,000,000,000 / 308,127,404 = $48,681.16
+ $10 trillion in GSE, agency, municipal debt and projected deficit financing. +$50 trillion in unfunded liabilities = FUCKED.
Panopticon
"... a new mode of obtaining power of mind over mind, in a quantity hitherto without example."
It's called, people getting their money out of the US banking system... God, this country has turned into a fucking prison. You can't take out YOUR OWN money. TSA want's to run check points all over the country. Your rights as a US citizen are now gone.
Ron Paul is our last hope Bitchez.
I've donated to Ron Paul and will vote for him if I can (here in NC, a late state). But it's naive to think he can do that much. He'll be able to conduct WH business ethically, but as far as getting any legislation past the 535 criminals down the road...
but as far as getting any legislation past the 535 criminals down the road...
... forget it.
... an no, executive orders won't work either, they might get him ...offed.
... just ask JFK.
I don't know why people hope Ron Paul will be elected POTUS. If he was elected, he would be shut down completely, unable to accomplish anything.
c-o-g,
If he was elected, he would be shut down completely, unable to accomplish anything.
I disagree.
IF he gets elected he will have so many followers, all he will need to do is what Regan did, GO directly to the people.
Then ,SHIT happens.
Also if he is elected and effed................the response Nationally by the people would be a sight to behold.
True, under the current system Ron Paul cannot fix things by himself- but he will still be an agent of drastic change. The sociopaths in charge will never give up even the smallest amount of power or wealth if they believe they can hold on to it by cracking down. Ron Paul's initial purpose is to force them to reveal their true nature to the sheeple. We are in for a year of lies, vote hacking, assassination attempts, internet shutdowns, false flag terrorism, war, riots, police thuggery, targeted arrests of delegates, FEMA camps, a blatantly stolen election and a very one-sided civil war when Texas secedes and most other states follow. Ron Paul will be the perfect leader of the New Republic.
You need to get laid.
Too late. Even if Ron Paul is taking 80% of votes, we are in Stalin's stage; does not matter who's voting, but who's counting.
@Alpacanio
It's called, people getting their money out of the US banking system... God, this country has turned into a fucking prison. You can't take out YOUR OWN money.
It never was Your Money - read the text on the FRNs - not redeemable in silver any more - therefore it's their (bogus) money.
As to getting your money out - PM's plus a nearby border (Canadian, Mexican) or Pacific or Atlantic exit via a boat, or if you have a pilots license, a little aircraft.
First things first, get some PMs - then find a place to put them. All can be done.
Your premise is inaccurate. Guidance as to what is "suspicious" is quite clear. I have to take a class on it every stinking year.
"I have to take a class on it every stinking year."
Therein lies the problem in a nutshell.
exactly. btw, what's the "suspicion du jour" for 2012?
i'll bet it is a longer list than it was last year... and the year before that... and the
What if you do not file an FBAR?
Depending on amount, fines, penalties and jail time. IRS has been offering amnesty plans lately but fines and penalties are steep.
but your money is still safe overseas?
You're FUBAR.
10k penalty + 10k for each month for a total of 60k i believe
Oh no... it's much worse than that:
"A person who willfully
fails to report an account or account identifying information may be
subject to a civil monetary penalty equal to the greater of $100,000 or
50 percent of the balance in the account at the time of the violation."
Further:
Disclosure of this information is mandatory. Civil and criminal penalties, including in
certain circumstances a fine of not more than $500,000 and imprisonment of not more
than five years, are provided for failure to file a report, supply
information, and for filing a false or fraudulent report.
I don't accept the premise of Soetero et al that my business is their business. Get the hell out of Amerika while you can. Why would you possibly trade, or bank, in the US? Nothing but a bunch of corrupt Stalin wannabes.
http://vegasxau.blogspot.com
I stay.
They go.
You'll be saying the same thing from a FEMA camp.
You're allowed to take your money and move it overseas but the US still wants their tax dollars. I dont know if you can offset foreign taxes against what you would owe to US though.
frostfan,
You're allowed to take your money and move it overseas
Not for much longer, you can bet your ass on that.
Most European Banks won't let Americans open accounts now. The US has made it too onerous for the banks.
edit: unless they're domiciled of course.
At CES, one of the themes is advancements in smartphones, which will lead to all kinds of smart appliances that gather and send data is having an increasingly negative impact on privacy in general.
Far too many people never bother to read the protections they give away when they download an app or a computer program. Its getting worse, not better.
Ron Paul should emrace this immediately as his main campaign themes are losing momentum. If Paul is going to be a truly disruptive force, privacy of americans is a topic he should include in his campaign.
Someday every single thing that is plugged into an electrical outlet with a chip in it will have it's own IP address, and will be controllable via the net.
The day before that, though, the "authorities" will demand a back-door key.
In the year 2014, your car will lock its own doors, forcibly strap its seatbelt around you (if it's not already on), and drive you to your nearest detention center, should it detect any illicit activity happening within the vehicle.
and if its a Toyota it will be full throttle all the way
(Two days ago....)
http://apple.slashdot.org/story/12/01/08/069204/leaked-memo-says-apple-provides-backdoor-to-governments
"In a tweet early this morning, cybersecurity researcher Christopher Soghoian pointed to an internal memo of India's Military Intelligence that has been liberated by hackers and posted on the Net. The memo suggests that, "in exchange for the Indian market presence" mobile device manufacturers, including RIM, Nokia, and Apple (collectively defined in the document as "RINOA") have agreed to provide backdoor access on their devices. The Indian government then "utilized backdoors provided by RINOA" to intercept internal emails of the U.S.-China Economic and Security Review Commission, a U.S. government body with a mandate to monitor, investigate and report to Congress on 'the national security implications of the bilateral trade and economic relationship' between the U.S. and China. Manan Kakkar, an Indian blogger for ZDNet, has also picked up the story and writes that it may be the fruits of an earlier hack of Symantec. If Apple is providing governments with a backdoor to iOS, can we assume that they have also done so with Mac OS X?"
Note to self: Open source wins.
That's already happening with SMART electric meters. Texas is one of the big test states, and those bastards installed one on my house while I wasn't home! My 80 yr old mom told the young technician that she did not want the smart meter when he came, and he said that he would leave, but if she resisted, they would bring the police to enforce the installment!
I will be fighting this as soon as I get a couple of huge jobs done. There are anti-smart meter groups popping up all over the world on the internet, and not only are they a HUGE invasion of privacy and control mechanism, they are causing people serious health problems and electrical/appliance malfunctions in their homes.
This is about Agenda 21 and the complete global police state. I am PISSED!
Just FYI - they have SpyMeters - aka SmartMeters in Toronto Canada and forced us to allow their iinstallation about a year ago. I delayed it until they threatened us with fines and prosecution for not complying. They are used by local cops to look for "above average" usage to get search warrants to look for cultivation of marijuana. I know. I'm a criminal defence lawyer and I've seen the search warrant applications. Lots of them.
They're rolling them out everywhere here in Oregon. It's the same deal as in Texas. As to your point about their use in drug interdiction, I'm sure you're right. Electrical demand of grow lights is high, and the cycing and period will show up in the consumption and stand out like a sore thumb. I'm curious why you think the policy of using electrical usage as probable cause is being done? As a criminal defense lawyer, do you think it's being done to "help get drugs off the street," or is there some other reason?
The reason I ask is because all this drug interdiction stuff and in fact the whole "War on Drugs," looks to me like the elimination of competition for drug-running government agencies (e.g. CIA) and the pharma companies. The pharma industry very clearly is the best possible example that we as a society don't have any problem with drugs, as long as they are controlled by major corporations. They've even made pills like Marinol that are analogs of THC. So if THC is legal for corporations to produce and doctors to prescribe, why it is it illegal for individuals to produce? I think this question has one and only one answer, but I'm very curious how a criminal defense attorney would see it.
I know they know exactly what I have. But they'll have to kill me for it instead of just stealing it with the stroke of a key.
Sad thing is, they don't have a problem with that. They need the occasional stand-out to make an example out of in order to scare the rest into silent submission.
Give me liberty, or give me death, bitchez.
No problem. Have a nice death.
That can work both ways.........
To add on to the authors comments on SAR's........
I work in a financial institution. We get reports from the feds that will say our SARS reporting is low. We get encouraged to increase our reporting. It's very effed up.
As I just mentioned, they're always looking to increase the fear. After all, what good is violent coercion if you can't leverage it up constantly?
so you've seen a copy of the reporting rules?
you follow the rules?
you fill out the paperwork (pain in the neck, agreed)?
And you probably get just as good of intelligence out of it as you would waterboarding someone who doesn't actually know anything relevant to the particular inquiry...
rumblefish,
We get encouraged to increase our reporting. It's very effed up
So, bottom line it is just one more way to take money under false pretenses from individuals.
They keep this shit up, and ANYONE with a brain will remove all their funds from the banks.
This will definitely decreases the SAR's reports.
In view of ALL else that's going on, I for one have had about ALL of this shit I am willling to take.I have said this many times, EVERYONE is guilty of something,there are just to many laws in place, for you not to have unknowingly broken them.
God help whoever crosses me first.( I hide zero transactions, and leave a paper trail on every major deal I do), all others purchases are cash,it's just easier than getting huge credit card bill at the end of the month.
will remove all their funds from the banks.
Well that's an immediate SAR for you then buddy.
Do you think this forum is not monitored? Do you think that is air your are breathing?
i know its monitored.... shhhh.
are they flouidating the air yet? "Ice Cream mandrake. They're putting flouride in Ice Cream.." Gen Ripper in Dr Strangelove (not as crazy as we thought at the time)
I've seen a copy of the guidelines, they're online probably. the cutoff number used to be $5000. if you paid off your credit card balance of $5000 or more, they put a hold on the check. so yes pay attention, and not sure what the rules are now, but these allegations of bankers reporting "suspicious" activity are crap unless you can show me one instance of a bank rolling over on some poor old lady just to meet their quota. the government spells out the rules, as individual you should be aware and avoid having your payments tagged.
if you deposit a large sum of cash they are obliged to ask you where you got the money. if you spread the deposits out, or you have some documentary evidence, like a 1099, or a bill of sale on an item, save yourself some trouble and tell the man. these laws are meant to catch money laundering operations, which is the defintiion of the Federal Reserve in a nutshell. and they can sell drugs and you can't. but that's the way it works, this is nothing new.
Here's what's new. My LOCAL savings bank asks me every time I withdraw $3,000 cash. My business income goes into the savings account, and I take a monthly draw for my bills. They always say "we are required to ask what this money is for". Now I give them, on a rotating basis, the following answers:
I'm going to Nevada, it's for hookers.
Guns and ammo.
Liquor.
Porn.
Phone sex.
I asked them once, "required by whom"? The teller's answer, "the management".
Go figure!
You have to be sure to smile or laugh while you're saying it so they think you're joking...
I would tell them, indignantly, that it is grossly inappropriate for them to be asking ANYTHING of the sort of their custiomers, and to fuck off.
Don't do that... just tell them that on second thought you'd like to withdraw the entirety of your balance for their inquiry... and go on down the road.
Better yet.
Just to let you know:
Hookers+ammo+liquor+porn+phonesex <> $3000
there are now currency sniffing dogs! this is no joke!
http://www.homelandsecuritynewswire.com/cash-sniffing-dog-comes-through-philadelphia-airport
Thank you for adding to my list of reasons to hold gold. Reasonably certain it cannot be sniffed out.
The metal detector will get you. Or the guy in leather bondage gear who fondles you.
Increasingly, it appears that the only meaningful way to remain below the radar of unwarranted government scrutiny is -- to be penniless as well as powerless.
But that won't leave us much leverage, will it.
So sometime before then we'll simply have to start l<1LLi|\|g 7h3m.
A most unpleasant prospect.
I was in this bar last week were all us local hedgies go for refreshment and pool and overheard a fellow say that every time he went to his coin shop, on a dip, this fellow, John Nadler was always ahead of him in the purchase line. I had hoped to be part of the 2% one day but never made it out of the 47%, alas, it just wasn't meant to be. If only I had bought that lotto ticket, i coulda been a contender.
What's holding me back?
The US is the reserve currency with the strongest military. I would expect things in other countries to fail apart well in advance of us and I don't want to be trying to get my money out of some foreign place that might be under siege. There will be war from not paying foreign bond holders before Americans loose their money. Of course our banks don't have enough money for all of us but I assume our gov. print for us and default for them.
Canada is a smart choice. They have great resources and a sound financial system and protection for free from us. I will consider when the warning signs evolve and they will not anytime soon.
The incredible can kicking skills of the Eurozone shows me we will have years and years before things accelerate here in the US.
I agree. If there is no FDIC Insurance in the Foreign Bank then you could lose all of your Money. There is no quarantee that the Foreign Bank could suffer from a run on the Bank, leaving you without the ability to get your Money.
Yes, the idea that a Foreign Bank would be a safe place to put your money is appealing but I think there are downsides to it also.
Although, I do not have gobbs of cash in savings or at home. Just a little as most of my Money is in Rental Real Estate. I suppose that if my Bank froze my account I still would have Rental Income to live on.
With FDIC total reserves at about $40B*, I recommend getting in line quick when the banks start failing.
* from a 2010 press release. Ha, could be worse now.
Uh, yeah until code compliance comes sniffing around sees a ripped screen or two and pulls your co..
The US is the reserve currency with the strongest military. I would expect things in other countries to fail apart well in advance of us and I don't want to be trying to get my money out of some foreign place that might be under siege.
The U.S. just might become "that foreign place that might be under seige"
There are states aligned with (or neutral to) the U.S. militarily but who have economies propped up by far more austere fiscal policies. Canada meets the first criteria, not so much on the second. Australia and Chile are relatively good on these marks, but each has its own internal issues. I don't think there are any silver bullets, and every state out there has some shade of entrenched socialism, but there are choices.
I think you hit upon it ... place all your money in Silver Bullets
I think this is why you should have cash on hand. What happens if your account is frozen for no good reason? Could you lose your house because you did not have access to your Money to pay your Mortgage? How about getting your car repossessed?
Although, there is a risk having Money at home there is a greater risk if you do not have the Money to pay bills like your Mortgage or Car payment.
Think I will stash a little more cash away. Not getting any interest in the Bank anyway.
There are safe ways to keep money at home. Fake electrical outlet, door trim moulding, in a book. Just leave a note for your heirs in case you check out early you don't want the electricial or book dealer to get it.
OT: or not!
http://www.dailymail.co.uk/news/article-2084971/Cage-dogs-Hong-Kong-The-tragedy-thousands-living-4ft-2ft-rabbit-hutches--city-Louis-Vuitton-shops-Paris.html
Ha. I went to that link to see pics of chinese living in rabbit cages. And down the sidebar of the page were teasers to go read gossip about the lavish lives of rich and famous celebrities.
"It still leaves 308,127,404 Americans who have no backup plan, no insurance policy for their hard-earned savings."
not really, it just leaves that many w/out simon's plan...
And if Simon thinks that all 308 million Americans *have* savings, he is delusional. There's probably 50% of the population that have no/minimal savings. We already know about the 40+million who rely on food stamps. Those people are already de facto "all-in" with the govt.
http://www.reuters.com/article/2012/01/11/us-nigeria-strike-idUSTRE8091B...
"If there is any disruption to oil production it would be a serious escalation and the government would be likely to use legal or enforcement means to stop it. But I think it is unlikely oil output will be affected," said Kayode Akindele, partner at Lagos-based investment firm 46 Parallels.
"The government will be fairly confident that as long as the security services can keep things under control then people will have to start going back to work. Most people don't have savings so they can't afford to lose out on days of pay."
Hmmm... now why does this sound familiar....
Then you are FUBAR!