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Started By
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This new mandate for banks reporting all cash transactions over $600 is alarming
Posted on 9/10/21 at 9:53 am
Posted on 9/10/21 at 9:53 am
This is a bigger piece to the puzzle than people are realizing. What it will essentially do is promote banks to deter cash transactions because of all the paperwork that will be associated with all cash transactions of greater than $600. So the people that think they will just deal in cash or run personal business or business in cash will be deterred by the banking system.
This ultimately moves quicker towards a full digital system and no longer need local banks. Then when you do not abide by the newest mandate, they simply turn your digital bank card or system off.
This ultimately moves quicker towards a full digital system and no longer need local banks. Then when you do not abide by the newest mandate, they simply turn your digital bank card or system off.
34
Posted on 9/10/21 at 9:54 am to Jack Daniel
NOW you're getting concerned?
Posted on 9/10/21 at 9:55 am to Jack Daniel
The right of the people to be properly supervised will not be abridged.
Posted on 9/10/21 at 9:56 am to Jack Daniel
quote:
This ultimately moves quicker towards a full digital system and no longer need local banks. Then when you do not abide by the newest mandate, they simply turn your digital bank card or system off.
They are already closing people's accounts for reasons they won't go into (because the feds won't allow them to say "You did X, which is suspicious activity") and holding their funds until a check has been delivered.
You want to see violence in the streets? Bonnie and Clyde will have nothing on people whose money got held up while their families are being starved out.
Posted on 9/10/21 at 9:56 am to Jack Daniel
Link? I missed this news.
Posted on 9/10/21 at 9:56 am to Jack Daniel
If I need more than $600 I’ll just do it in multiple transactions.
Posted on 9/10/21 at 9:57 am to Jack Daniel
People will barter with other than cash.
Posted on 9/10/21 at 9:58 am to Jack Daniel
They've been doing this on cash transactions for years now. They want to eliminate cash entirely.
Posted on 9/10/21 at 9:59 am to Jack Daniel
If you ran your business on cash couldnt you just not deposit into the bank? Or is the idea that nobody will have cash on them to pay you?
Posted on 9/10/21 at 10:00 am to mwlewis
quote:
If I need more than $600 I’ll just do it in multiple transactions.
And if the above is true, you’re account will be flagged immediately for suspicious activity. They’ll freeze your assets
Posted on 9/10/21 at 10:01 am to Seldom Seen
quote:
They want to eliminate cash entirely.
Yea cash is a real serious problem for the global new world order.
Posted on 9/10/21 at 10:02 am to Blizzard of Chizz
quote:
And if the above is true, you’re account will be flagged immediately for suspicious activity. They’ll freeze your assets
$10,000 is the current amount for such paperwork and you could feasibly argue that structuring to avoid that is intentional.
Someone going to a bachelor party could feasibly pull out well over $600 in multiple transactions in a short timeframe.
Posted on 9/10/21 at 10:03 am to Blizzard of Chizz
You can have like 5 checking accounts and stagger the deposits. Huge PITA tho. I’d trust smaller regional banks over mega banks.
This post was edited on 9/10/21 at 10:04 am
Posted on 9/10/21 at 10:04 am to teke184
quote:
Someone going to a bachelor party could feasibly pull out well over $600 in multiple transactions in a short timeframe.
You could easily spend more than that on a weekend day on vacation.
Posted on 9/10/21 at 10:05 am to Jack Daniel
I'm not positive about this but the way I read it is they will be reporting all transactions of people who have over 600 dollars in the bank. If so that's even more disturbing
Posted on 9/10/21 at 10:05 am to mwlewis
quote:F8ck that. It's your money. Not some money they'll let you have.
If I need more than $600 I’ll just do it in multiple transactions.
Posted on 9/10/21 at 10:06 am to Jack Daniel
The federal government is pulling the rug on the banking system because they will not lend money in the private sector. We are going cashless and you will have an account with the Treasury. They will see everything you do. They will be able to take away your money with a button click. They can force you to spend it because interest rates are so negative. Why are you worried, baw? It's not happening. Slippery slope fallacy, baw. It's a conspiracy! That would never happen here.
This post was edited on 9/10/21 at 10:08 am
Posted on 9/10/21 at 10:06 am to FredBear
quote:Pretty sure you are correct.
I'm not positive about this but the way I read it is they will be reporting all transactions of people who have over 600 dollars in the bank. If so that's even more disturbing
Posted on 9/10/21 at 10:06 am to SirWinston
This post was edited on 2/14/22 at 5:57 am
Posted on 9/10/21 at 10:08 am to Dawgfanman
quote:
You could easily spend more than that on a weekend day on vacation.
True, but that doesn't necessarily require cash.
Can't swipe your card in the stripper's crack.
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