Bank account info belongs to CIA, says US government

Moscow: Russia Today via You Tube ^

[alexmark]

In an attempt to pursue terrorists across the globe, the Obama administration has proposed legislation that will give spy agencies access to citizens’ finances. Currently, the FBI is the only agency that has access to these databases, but the plan will give the CIA and NSA the same access. So does this proposition take the war on terror too far? Private investigator Kenneth Cummins explains the legality of the legislation.

[aMorePerfectUnion]

The gov simply wants their part of your IRA balance to be collected...

[rarestia]

There’s no freedom anymore. I’m just going through my day to day as normally as possible, but I am prepared for the inevitable. My stress and my anxiety are at a constant level, but at least it’s something I can anticipate. I believe this is what the Founder’s understood when they gave us a Republic (if we can keep it).

This feeling, this constant concern about the state of social, cultural, and political affairs, is the sort of vigilance that we must maintain to be able to defend the very idea of America’s Constitutional Republicanism.

Go about your day in every legal way possible. Live life as vanilla and nondescript as possible. Be prepared, however, to defend yourself, your family, your faith, and your property from a government that is growing into a leviathan that I believe even the most astute among us have yet to fathom.

[Mr. Jeeves]

If you are transacting in Federal Reserve Notes the Federal Reserve will naturally wants assert its ownership rights over your account information. It’s only fair. /s

[aMorePerfectUnion]

A good chunk of your money should be outside the USA to prevent keystroke seizure... Just file your FATCA and US Treasury forms.

[Political Junkie Too]

What's the fourth amendment justification for the wholesale searching of bank accounts?

-PJ

[Aria]

An excellent attitude! I am in complete agreement.

[6ppc]

I’d always understood that $10,000 was the “magic number” for a deposit to net you a visit by a federal agent.

Don't remember where I heard it, but at some point in the last couple of years I heard they reduced the reporting threshold to $5000.

[reformed_dem]

I used to work in banking. If you bring in or withdraw more than $10,000 in cash (i.e. $10,000.01) it automatically triggers a large currency transaction report. I guess that figure was determined however many years ago to be the questionable threshold for money laundering transactions. However, you can't "structure" your transactions to try to avoid the report by bringing in or taking out cash over several days just under the $10,000 because that will trigger a suspicious transaction report. Just like you can't purchase monetary instruments (money orders, travelers checks or cashier's checks) for more than $3,000 per day with cash. It's supposed to deter money laundering too.

As for the tellers needing approval - each teller has an individual limit they can accept without approval from a supervisor. It has to do with their experience in banking. The newer the teller, the lower their limit. Large deposits require approval, especially if it's a single check, to verify that it's not a forgery because if it's accepted and access to the funds is granted immediately and it's not a legitimate check, the bank can be out that money. The banking program even has a built-in supervisor override in order to complete the transaction if the withdrawal limit is over the teller's limit.

I've worked for two different banks and they both had those rules in place. For a regular customer with a good balance history, it's not necessary to get approval for the deposit prior to completing the transaction, however. We would have a separate pile of large transactions that the supervisor would go through every so often and approve after the customers had long left.

[goat granny]

The thing that not even my finacial advisor could understand is that the amount also depended on the age of my oldest child....somehow that figures into the amount I have to withdrawl. Its none of their greedy business is what I believe..

[aMorePerfectUnion]

“The thing that not even my finacial advisor could understand is that the amount also depended on the age of my oldest child....somehow that figures into the amount I have to withdrawl. Its none of their greedy business is what I believe..”

They want as much money that is legally theirs via taxes, as they can get - and they constantly plan on ways to get the whole thing. By the end of the next crisis, they will fold pensions and IRAs into a “government guaranteed retirement account”... which of course they control.

[DarkWaters]

To them, all money is legally theirs especially the harder we work for it. They have just been kind enough to leave us with enough to live and have a decent life. That area is now over in their perverse minds.