You may think your bank works for you. You should think again. Your bank works for the government.
Banks are quasi-government institutions. They owe their charters to the government. That means they do the will of the government.
There is no such thing as a private bank account in the United States. All your banking records are available to the government, and, in fact, the banks are reporting your activity to the Treasury Department???s Financial Crimes Enforcement Network (FinCEN).
Any banking activity deemed “suspicious” is required to be reported to FinCEN via a Suspicious Activity Report (SAR). This includes such “offenses” as making heavy use of an automated teller machine, for receiving or sending international wire transfers or because the bank does not know the source of deposited money.
Federal law compels banks to report any transactions that have no “apparent lawful purpose or are not the sort in which the particular customer would normally be expected to engage.”
Withdrawals of more than $5,000 in cash are also deemed “suspicious” according to the government, and banks have been encouraged by the Justice Department to go beyond just filing a SAR and actually make a report to local law enforcement about any withdrawals suspected to be linked to nefarious activity to local law enforcement. Based on these reports, banking customers have been met at their driveway by police wanting to know what they are doing with the cash.
This, of course, is another entirely subjective judgment, and banks are apt to err on the side of caution (which means that they can be expected to report anything and everything that seems the slightest bit out of the ordinary). FinCEN has the ability to identify and punish financial institutions that turn in SARs at a substantially lessened rate than the national average. In other words, if a bank fails to meet its quota of SARs, it can be punished.
To keep regulators off their backs, banks are “ratting out” a record number of unsuspecting customers to the Treasury Department.
Under the USA PATRIOT Act, when a financial institution files a SAR on a person, it is illegal for bank to inform the customer a report has been filed. Thousands of accounts have been frozen and perhaps millions of transactions have been cancelled by banks trying to comply with the law.
SARs are required in addition to another required banking practice, the submission of Currency Transaction Reports (CTR).
Financial institutions are required to submit CTRs on customers who engage in transactions involving $10,000 or more. And those suspect individuals who have several such reports filed on them may be audited by the IRS or investigated for dealing drugs.
There are a lot of honest citizens who have their names attached to CTR forms, given that the banking industry is filing tens of million CTRs each year. This government mandate also prevents banking officials from revealing to customers their compliance with the CTR system. Telling you could mean a 10-year jail sentence or a $500,000 fine per offense.
If you ask about what information may be reported to the Feds, bank employees must either lie or beg ignorance.
Those who know about this law can structure their withdrawals to avoid hitting the $10,000 limit. But such “structuring” is also illegal. If you appear to have planned withdrawals to avoid hitting $10,000 at any given time, bank employees are instructed to file a special form that suggests you might be trying to circumvent the law.
Almost invariably, these “security” measures are carried out for no good reason. As usual in these cases, the government pretends these intrusions are necessary for fighting a “war on drugs.”
If you are suspected of illegal activity the authorities can seize your bank account and your assets. They can seize your real and personal property. And they don???t even need to charge you with a crime, much less gain a conviction first.
Of course, the excuse for the ongoing restriction of personal privacy and personal liberty is always crime. The government promotes crime and then uses crime to restrict your liberty. Government oppression under the color of law is to reduce the freedom of honest citizens. Criminals and crooks pay no attention to laws. Any child knows this.
The government hates cash money because it offers a certain privacy and freedom of movement and choice. The underground economy operates on cash and barter. This puts it out of reach of bureaucrats and non-producing government parasites who want to live off of your labor. That draws the ire of the state. It can’t abide those who attempt to operate outside the system.
Cash also creates a problem for the money printers and government men who are continually trying to find a way to prop up the system. Should we enter another recession (in reality we have never escaped the last one, it is merely being papered over with food stamps, phony employment numbers and money printing), the Federal Reserve has few if any bullets left to fire while still maintaining any legitimacy of a rational system.
People holding their cash prevents the banksters from using that money as reserves to further increase the money supply. It also prevents the Federal Reserve from using negative interest rates to further prop up the system by printing even more money.
Governments around the world have been waging a war on cash for several years. Scandinavia, Sweden, France, Germany and India either have or are all taking steps to crack down on cash transactions and cash deposits and withdrawals. The limits of these are slowly being reduced as if a boa constrictor was tightening its grip on its prey.
The official excuse in all these cases is to reduce crime, reduce tax fraud, fight terrorism and create money. The goal is less liberty and more currency depreciation.
Currency depreciation is a ploy governments have used for millennia. Why do evil men steal through currency depreciation? Because of its huge, ongoing income flow that goes to government over and above all taxes. Taxes have the implied legality of law and consent of the people. Currency depreciation is not allotted the parameters of legality or illegality. It is above the law and is almost never debated in the monetary realm.
Withdrawing one???s own money from a bank ??? for whatever reason ??? should not be a crime. A crime must have a victim. What gives the Federal government the authority to prosecute people for the non-crime of placing money in a bank and then withdrawing their own money in whatever amount and for whatever purpose desired?
Of course, the laws requiring banks to snitch on their customers stem from the faux “war on drugs” and the faux “war on terror.” But those are just excuses for more government information gathering and currency controls. Government snooping by proxy, using the banks as informants, is accomplished without warrants and is, therefore, a violation of the 4th Amendment.
When the government takes your money for reasons the state finds “suspicious” without charges being filed or a criminal conviction being obtained is nothing more than robbery in the first degree. But since it???s done by government men wearing a badge and carrying the “force of law,” it is legal robbery.
The government is always fighting a “war” on something. Always fighting but never winning. They just go on and on without end but lead to more liberty-stealing laws.
The actual war is against the American people.