Topic: You Won't Believe This Stupid New Law Against Cash And Bitcoin - page 2. (Read 1389 times)
Oh my god!! This is just too much!! What the fck is this!? I mean they are depriving people of their own privacy! This nothing but bull crap!! This is not for the reason of finding terrorists or locating criminals, this is for a bigger agenda. And it's just a little too obvious! Phew! Good thing im not an american, but i think lots of people will protest with this new law. It is just insane. REALLY INSANE! I just hope other counties really wont adapt to it..
Hopefully they won't be confiscating bitcoin, but who knows.
Handled properly, Bitcoin is extremely hard to confiscate from everyone. It's not likely that any major government except for dictatorships will even bother trying, since they'd have such a difficult job finding out everyone who has it and exactly how much they have. Even if they could figure that out, people could start mixing it with companies that are based in other countries and converting to other coins.Precious metals are similar. They can't be centrally taken without huge amounts of resources going into the work.
Quote
Recently a new bill was introduced on the floor of the US Senate entitled, pleasantly,
“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”
You can probably already guess its contents.
Cash is evil.
Bitcoin is evil.
Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.
These people are certifiably insane.
Among the bill’s sweeping provisions, the government aims to greatly extend its authority to seize your assets through “Civil Asset Forfeiture”.
Civil Asset Forfeiture rules allow the government to take whatever they want from you, without a trial or any due process.
This new bill adds a laundry list of offenses for which they can legally seize your assets… all of which pertain to money laundering and other financial crimes.
Here’s the thing, though: they’ve also vastly expanded on the definition of such ‘financial crimes’, including failure to fill out a form if you happen to be transporting more than $10,000 worth of ‘monetary instruments’.
Have too much cash? You’d better tell the government.
If not, they’re authorizing themselves in this bill to seize not just the money you didn’t report, but ALL of your assets and bank accounts.
They even go so far as to specifically name “safety deposit boxes” among the various assets that they can seize if you don’t fill out the form.
Oh, and on top of civil asset forfeiture penalties, there are also criminal penalties.
Right now according to current law they can imprison you for up to FIVE YEARS for not filling out the form. Five years.
But apparently that doesn’t go far enough to protect us against evil men in caves.
So this bill aims to double the criminal penalty to TEN years in prison.
And if that weren’t enough, this bill also gives them with new authority to engage in surveillance and wiretapping (including phone, email, etc.) if they have even a hint of suspicion that you might be transporting excess ‘monetary instruments’.
Usually wiretapping authority is reserved for major crimes like kidnapping, human trafficking, felony fraud, etc.
Now we can add cash to that list.
It’s not just government spy agencies to worry about, either.
Banks in the US are already unpaid government spies, required by law to fill out suspicious activity reports on their customers.
Then Congress started expanding those requirements to include other businesses and industries that might come into contact with cash.
Stock brokers. Casinos. Currency exchanges. Precious metals dealers. Pawnbrokers. The Post Office.
According to the law (section 5312 of US Code Title 31), those industries are also required to spy on their customers for the government.
But under this new bill, they want to forcibly recruit even more unpaid spies, including any business which issues or redeems ANYTHING that’s prepaid.
Prepaid credit cards. Prepaid phones. Prepaid retail gift cards. Prepaid coupons.
So, Amazon.com, which issues and redeems prepaid gift cards, will be required under this bill to file reports to the government.
For that matter, TGI Fridays and Chuckee Cheese will also become unpaid government spies since they both issue and redeem prepaid vouchers.
Truly these Senators have figured out how to strike at the heart of ISIS.
http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin
“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”
You can probably already guess its contents.
Cash is evil.
Bitcoin is evil.
Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.
These people are certifiably insane.
Among the bill’s sweeping provisions, the government aims to greatly extend its authority to seize your assets through “Civil Asset Forfeiture”.
Civil Asset Forfeiture rules allow the government to take whatever they want from you, without a trial or any due process.
This new bill adds a laundry list of offenses for which they can legally seize your assets… all of which pertain to money laundering and other financial crimes.
Here’s the thing, though: they’ve also vastly expanded on the definition of such ‘financial crimes’, including failure to fill out a form if you happen to be transporting more than $10,000 worth of ‘monetary instruments’.
Have too much cash? You’d better tell the government.
If not, they’re authorizing themselves in this bill to seize not just the money you didn’t report, but ALL of your assets and bank accounts.
They even go so far as to specifically name “safety deposit boxes” among the various assets that they can seize if you don’t fill out the form.
Oh, and on top of civil asset forfeiture penalties, there are also criminal penalties.
Right now according to current law they can imprison you for up to FIVE YEARS for not filling out the form. Five years.
But apparently that doesn’t go far enough to protect us against evil men in caves.
So this bill aims to double the criminal penalty to TEN years in prison.
And if that weren’t enough, this bill also gives them with new authority to engage in surveillance and wiretapping (including phone, email, etc.) if they have even a hint of suspicion that you might be transporting excess ‘monetary instruments’.
Usually wiretapping authority is reserved for major crimes like kidnapping, human trafficking, felony fraud, etc.
Now we can add cash to that list.
It’s not just government spy agencies to worry about, either.
Banks in the US are already unpaid government spies, required by law to fill out suspicious activity reports on their customers.
Then Congress started expanding those requirements to include other businesses and industries that might come into contact with cash.
Stock brokers. Casinos. Currency exchanges. Precious metals dealers. Pawnbrokers. The Post Office.
According to the law (section 5312 of US Code Title 31), those industries are also required to spy on their customers for the government.
But under this new bill, they want to forcibly recruit even more unpaid spies, including any business which issues or redeems ANYTHING that’s prepaid.
Prepaid credit cards. Prepaid phones. Prepaid retail gift cards. Prepaid coupons.
So, Amazon.com, which issues and redeems prepaid gift cards, will be required under this bill to file reports to the government.
For that matter, TGI Fridays and Chuckee Cheese will also become unpaid government spies since they both issue and redeem prepaid vouchers.
Truly these Senators have figured out how to strike at the heart of ISIS.
http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin
US banks and governments showing once again they oppress innovation and progress and work hard to keep people from succeeding at their dreams or ambitions.
Will russia pass a similar bill I wonder? What of japan, canada or australia? I think they will be pressured to pass similar bills in the days to come.
This may only affect the united states as only americans are heavily armed and globalists seem to focus more on the USA for that reason.
This govt it quickly trying to replace itself. Tyrants gonna be tyrants.
...you see who we have as president. A psychopath. ...
kekUS banks and governments showing once again they oppress innovation and progress and work hard to keep people from succeeding at their dreams or ambitions.
Will russia pass a similar bill I wonder? What of japan, canada or australia? I think they will be pressured to pass similar bills in the days to come.
This may only affect the united states as only americans are heavily armed and globalists seem to focus more on the USA for that reason.
If there are laws like this passed in other countries it will be surprising but not completely unlikely. Definitely something to start being careful of as time progresses.
As for it being part of the US alone due to the freedom given to them, it's possible. Of course they're going to focus down that country, but they might never need to fire a shot if they replace the population with mutts who lack any identity. Which is, of course, what they're doing. They just covering the bases so that it's next to impossible to escape their system now.
I hope Americans like being replaced, but that's sure as shit what's coming. Everywhere really, Europe notably.
We are living in a very extraordinary times where economic and political stability can be wanting. Many governments are reacting wildly to terrorism to the point that they ware willing to sacrifice personal liberty and freedom in the altar of the greater good, as they claimed.
Personal freedom and privacy are compromised by these government for a very long time and do you think those steps would deter terrorists,it is just a stupid analysis that the funds are being allocated through these channels while there are proof that initially the US was funding the ISIS and giving away weapons and to be frank they are the ones creating terrorist and countering terrorist,what a joke. 
We are living in a very extraordinary times where economic and political stability can be wanting. Many governments are reacting wildly to terrorism to the point that they ware willing to sacrifice personal liberty and freedom in the altar of the greater good, as they claimed.
This trend is just starting and we can witness this whole drama in the coming years as political and ideology and even religious conflicts can be escalating. Sometimes we can get some insane reactions and this can reflective in bad laws rationalized as protecting the common people.
This trend is just starting and we can witness this whole drama in the coming years as political and ideology and even religious conflicts can be escalating. Sometimes we can get some insane reactions and this can reflective in bad laws rationalized as protecting the common people.
As The Pharmacist said, zerohedge is mainly a site that shills for precious metals. They have their own precious metals section even(http://www.zerohedge.com/category/tags/precious-metals), and the articles that they write in there are just a teeny weeny bit biased.
But yes, the law itself is pretty stupid. Though it's not just the US - In europe AML laws are tightening up as well, for example i used to be able to store $2000 USD without getting verified on Wirex, but now that limit is lowered to 250 USD. With vaultoro i could deposit up to $7000 ish worth of bitcoins per day to buy gold without getting verified and hold it anonymously, next month everyone has to get verified before they can trade.
I understand why they are targeting cash and bitcoin, but gift cards as well? Jeez, i wonder how much this is going to cost them and how much stuff is actually going to be done
But yes, the law itself is pretty stupid. Though it's not just the US - In europe AML laws are tightening up as well, for example i used to be able to store $2000 USD without getting verified on Wirex, but now that limit is lowered to 250 USD. With vaultoro i could deposit up to $7000 ish worth of bitcoins per day to buy gold without getting verified and hold it anonymously, next month everyone has to get verified before they can trade.
I understand why they are targeting cash and bitcoin, but gift cards as well? Jeez, i wonder how much this is going to cost them and how much stuff is actually going to be done
Zerohedge, inflaming passions to hype precious metals as always.
But even if there weren't any more facts behind what was written in the OP, this country is fucked anyway--you see who we have as president. A psychopath. So anything can happen, and this shit should surprise NO ONE. Hopefully they won't be confiscating bitcoin, but who knows. But I still can't stand zerohedge.
But even if there weren't any more facts behind what was written in the OP, this country is fucked anyway--you see who we have as president. A psychopath. So anything can happen, and this shit should surprise NO ONE. Hopefully they won't be confiscating bitcoin, but who knows. But I still can't stand zerohedge.
Quote
Recently a new bill was introduced on the floor of the US Senate entitled, pleasantly,
“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”
You can probably already guess its contents.
Cash is evil.
Bitcoin is evil.
Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.
These people are certifiably insane.
Among the bill’s sweeping provisions, the government aims to greatly extend its authority to seize your assets through “Civil Asset Forfeiture”.
Civil Asset Forfeiture rules allow the government to take whatever they want from you, without a trial or any due process.
This new bill adds a laundry list of offenses for which they can legally seize your assets… all of which pertain to money laundering and other financial crimes.
Here’s the thing, though: they’ve also vastly expanded on the definition of such ‘financial crimes’, including failure to fill out a form if you happen to be transporting more than $10,000 worth of ‘monetary instruments’.
Have too much cash? You’d better tell the government.
If not, they’re authorizing themselves in this bill to seize not just the money you didn’t report, but ALL of your assets and bank accounts.
They even go so far as to specifically name “safety deposit boxes” among the various assets that they can seize if you don’t fill out the form.
Oh, and on top of civil asset forfeiture penalties, there are also criminal penalties.
Right now according to current law they can imprison you for up to FIVE YEARS for not filling out the form. Five years.
But apparently that doesn’t go far enough to protect us against evil men in caves.
So this bill aims to double the criminal penalty to TEN years in prison.
And if that weren’t enough, this bill also gives them with new authority to engage in surveillance and wiretapping (including phone, email, etc.) if they have even a hint of suspicion that you might be transporting excess ‘monetary instruments’.
Usually wiretapping authority is reserved for major crimes like kidnapping, human trafficking, felony fraud, etc.
Now we can add cash to that list.
It’s not just government spy agencies to worry about, either.
Banks in the US are already unpaid government spies, required by law to fill out suspicious activity reports on their customers.
Then Congress started expanding those requirements to include other businesses and industries that might come into contact with cash.
Stock brokers. Casinos. Currency exchanges. Precious metals dealers. Pawnbrokers. The Post Office.
According to the law (section 5312 of US Code Title 31), those industries are also required to spy on their customers for the government.
But under this new bill, they want to forcibly recruit even more unpaid spies, including any business which issues or redeems ANYTHING that’s prepaid.
Prepaid credit cards. Prepaid phones. Prepaid retail gift cards. Prepaid coupons.
So, Amazon.com, which issues and redeems prepaid gift cards, will be required under this bill to file reports to the government.
For that matter, TGI Fridays and Chuckee Cheese will also become unpaid government spies since they both issue and redeem prepaid vouchers.
Truly these Senators have figured out how to strike at the heart of ISIS.
http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin
“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.”
You can probably already guess its contents.
Cash is evil.
Bitcoin is evil.
Now they’ve gone so far to include prepaid mobile phones, retail gift vouchers, or even electronic coupons. Evil, evil, and evil.
These people are certifiably insane.
Among the bill’s sweeping provisions, the government aims to greatly extend its authority to seize your assets through “Civil Asset Forfeiture”.
Civil Asset Forfeiture rules allow the government to take whatever they want from you, without a trial or any due process.
This new bill adds a laundry list of offenses for which they can legally seize your assets… all of which pertain to money laundering and other financial crimes.
Here’s the thing, though: they’ve also vastly expanded on the definition of such ‘financial crimes’, including failure to fill out a form if you happen to be transporting more than $10,000 worth of ‘monetary instruments’.
Have too much cash? You’d better tell the government.
If not, they’re authorizing themselves in this bill to seize not just the money you didn’t report, but ALL of your assets and bank accounts.
They even go so far as to specifically name “safety deposit boxes” among the various assets that they can seize if you don’t fill out the form.
Oh, and on top of civil asset forfeiture penalties, there are also criminal penalties.
Right now according to current law they can imprison you for up to FIVE YEARS for not filling out the form. Five years.
But apparently that doesn’t go far enough to protect us against evil men in caves.
So this bill aims to double the criminal penalty to TEN years in prison.
And if that weren’t enough, this bill also gives them with new authority to engage in surveillance and wiretapping (including phone, email, etc.) if they have even a hint of suspicion that you might be transporting excess ‘monetary instruments’.
Usually wiretapping authority is reserved for major crimes like kidnapping, human trafficking, felony fraud, etc.
Now we can add cash to that list.
It’s not just government spy agencies to worry about, either.
Banks in the US are already unpaid government spies, required by law to fill out suspicious activity reports on their customers.
Then Congress started expanding those requirements to include other businesses and industries that might come into contact with cash.
Stock brokers. Casinos. Currency exchanges. Precious metals dealers. Pawnbrokers. The Post Office.
According to the law (section 5312 of US Code Title 31), those industries are also required to spy on their customers for the government.
But under this new bill, they want to forcibly recruit even more unpaid spies, including any business which issues or redeems ANYTHING that’s prepaid.
Prepaid credit cards. Prepaid phones. Prepaid retail gift cards. Prepaid coupons.
So, Amazon.com, which issues and redeems prepaid gift cards, will be required under this bill to file reports to the government.
For that matter, TGI Fridays and Chuckee Cheese will also become unpaid government spies since they both issue and redeem prepaid vouchers.
Truly these Senators have figured out how to strike at the heart of ISIS.
http://www.zerohedge.com/news/2017-06-14/you-wont-believe-stupid-new-law-against-cash-and-bitcoin
US banks and governments showing once again they oppress innovation and progress and work hard to keep people from succeeding at their dreams or ambitions.
Will russia pass a similar bill I wonder? What of japan, canada or australia? I think they will be pressured to pass similar bills in the days to come.
This may only affect the united states as only americans are heavily armed and globalists seem to focus more on the USA for that reason.
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