We should gather $10,000 in contributions and send it from FReeper to FReeper to deposit and withdraw.
$10,000 of his OWN money.
Why, if everyone took $10,000 out of the bank, it would drive the Feds nuts!
It would also put the banks out of business because most banks don't keep enough cash on hand to cover deposits.
Better yet, take out $10,000, turn around and redeposit it, take it back out, deposit it . . . .
We can't have this! People taking 10,000 out of the bank! Why, if everyone took $10,000 out of the bank, it would drive the Feds nuts!
It's not just banks. If businesses handle $10,000 or more from an individual, it has to be reported to the authorities too. Back in 1990, I paid cash for a car (wrote an $11,000 check, actually). I had to fill out both state and federal forms, which included a statement that the money was NOT illegally gotten!
Mark
Escpecially those of us who don't have $10,000 deposited.
Seriously, a friend of mine told me about these regulations a few years ago, and at first, I thought he was mistaken. Why would the federal government care if you legally withdrew your own money from the bank? But they do.
Presumption of innocence may still be the rule in court, but not before the rest of the federal government.