I fail to understand why the government has any compelling interest to monitor how people choose to store and retrieve their own money.
It’s the governments money silly, they just let us use it, they can take it back whenever they so desire.
Cash will be illegal very soon.
And your IRA/401K is something they will consider "theirs" as well.
Mark my words.
It’s a lose lose. If you do $10k its legal but you get reported. If you do less than $10k it’s illegal and you get reported.
I was thinking the exact same thing. What is it to them what he spends his money pon? To a person pf means $10,000 in cash isn’t allot of money.
As for lying to the FBI, why the hell would anyone ever talk to the FBI? If the FBI says they have questions for you, TALK TO MY ATTORNEY!
“beginning in approximately July 2012 he started structuring those withdrawals in increments of less than $10,000 to evade currency transaction requirements that withdrawals of $10,000 or more be reported.”
I think he “avoided” rather than “evaded”, the law requires banks to report daily withdrawals over $10,000, he simply withdrew below that amount.
compelling interest? You’d have to ask the same question to Hastert? If he needed , say 50 grand, in cash why wouldn’t he cash a check and get it? He was there when the law that trapped him got passed so he sure the bleep ought to know about it. I came to believe he was crooked since his biggest chunk of cash came from a real estate deal that he set up while he was in office then cashed out of after he retired.
And remember he’s one of the big spenders, always claiming he “negotiated” each bill to passage. That means he was loading them up with something for everybody until they could pass. I’d be happy to tidy up a cell for him. The one Duke Cunningham is using will be available soon.
Boehner, we are coming for you.
“I fail to understand why the government has any compelling interest to monitor how people choose to store and retrieve their own money.”
Fedzilla wants to know what you are saying on the phone and internet, as well as what you’re doing with your money.
But the authoritarian groupies might say about this chipping away of freedom, “if you haven’t done anything wrong, you have nothering to worry about.”
Agree. It is time to do away with this cash monitoring nonsense.
This law was passed to track major cash transactions by drug dealers. It is legal to make large deposits or withdrawals, but do not attempt to evade and do not ever lie to a government agent when they ask you about it. Best to remain silent, but Hastert foolishly lied to fed investigators when he could not explain the withdrawals.
It's The King's Money, peasant.
You'd think that a guy with an Old English screen nick would understand that. ;) /(gentle teasing)
I fail to understand why the government has any compelling interest to monitor how people choose to store and retrieve their own money.
...
Well in this case it appears the law helped uncover a crime. Hastert was paying $3.5 million to someone as hush money.
My advice to anyone is that when the FBI wants to talk to you don’t tell them anything except that you want a lawyer. They nail people left and right for lying to FBI agents, and the feds have plenty of money and resources to prosecute and imprison people who do so, even when it may seem harmless.
When the hell is Clinton going to be indicted?
1. set up a 'Charity' corporation
2. given some 'speeches' (get paid)
3. hired his 'payback guy' as 'charity consultant'
It's all in the name of the War on Drugs and Money Laundering ..........
‘Just because you don’t understand their reasoning doesn’t mean they don’t understand why they’re doing it.’
Prole
/sarc
More to the point, why so many on FR support that intrusion.
They’re assuming that anyone who doesn’t want to be monitored must be involved in illegal activity. “If you’re not doing anything wrong, you have nothing to fear”.