 Beware the Fed Money Monitoring System
Zombies are on the march
Bill Bonner
Provided as a courtesy of Agora Publishing
& The
Daily Reckoning
Posted Oct 1, 2010
09/30/10 Baltimore, Maryland Meanwhile, zombies are on the march. Literally.
We got a news item from Europe. “Thousands
of protestors took to the streets in dozens of European cities,”
it told us.
What’s their problem? They don’t
like cutbacks in government spending.
And now Bloomberg tells us that
the feds want to keep track of all money transfers into and out
of the US:
Financial institutions have long been
required to report all cash transactions, whether domestic or
overseas, exceeding $10,000 as well as transactions that they
deem to be suspicious. The proposed regulations would expand
the requirements so that banks would have to report all cross-border
transfers of any size, whether or not cash is involved. (For
money-transfer businesses, the threshold would be $1,000 as opposed
to that at banks, which would report all amounts.)
If you send $500 to your daughter in
London, what business is it of the feds?
Why do you ask, do you have something
to hide?
The feds say they are preventing terrorism
and money laundering. What they are really doing is gaining power.
It can’t be too much longer before you need permission
to send money overseas. And then, the “rich” will
be fitted with the equivalent of an electronic ankle bracelet…to
monitor their financial movements and prevent them from getting
away with anything.
But wait. Are we becoming paranoid? Are
we having a bad dream? Are we “losing it”?
Maybe. But soon, finances could be a
matter of US national security. And transferring money out of
the country, unauthorized, could be a crime.
The zombies are counting on your money.
They won’t give it up without a fight.
Regards,
###
source: http://dailyreckoning.com/beware-the-fed-money-monitoring-system/
Bill Bonner
email: DR@dailyreckoning.com
website: The
Daily Reckoning
Bill Bonner
is the founder and editor of The Daily Reckoning.
Bill's book,
Mobs,
Messiahs and Markets: Surviving the Public Spectacle in Finance and
Politics, is a must-read.
He is also the
author, with Addison Wiggin, of The Wall Street Journal best seller
Financial
Reckoning Day:
Surviving the Soft Depression of the 21st Century (John Wiley
& Sons).
In Bonner and
Wiggin's follow-up book, Empire
of Debt:
The Rise of an Epic Financial Crisis, they wield their sardonic
brand of humor to expose the nation for what it really is - an
empire built on delusions.
Copyright ©
2000-2013 Agora Financial LLC.
321gold Ltd
|
