Government, Karen, Columbia Bank discussed on Heartland Newsfeed Radio Network


If you spell it. T. H. E. I. R. S. It's bells. There's ooh in twenty eleven th. The salary is set up shop at a farmer's market or festival or festival venues and dealt on a cash only basis at these types of places They backed each sale with the notation on a yellow legal pad. Every Monday like clockwork Karen entered a branch of Columbus Bank and deposited the cash proceeds typically around ten thousand dollars. And we'll do it after a particularly large route but after a particularly large special event caring arrived at the Columbia at Columbia Bank the following Monday with approximately twelve thousand dollars a bit more green than usual and received a request from the bank teller according to the salaries the teller ask Karen for favoring said make your deposit less than ten thousand dollars and no paperwork y God so. The teller advised her to to do something that would result in a suspicious activity report. The teller said make your deposit less than ten thousand dollars and no paperwork is required. Wow that was it. She said we did it because we were asked to do it for thirty four weeks. Karen deposited about nine thousand five hundred dollars each time. I'm not saying it didn't look a little odd. But there was a reason we'd been at our says. There is no tax evasion laundered money and no drug money. Technically by depositing the cash increments in less than ten thousand dollars the salaries were committing a crime. Now I just want to point out that a real crime requires a or property damage of which there is none in this case right yes the bank secrecy. Act of nineteen seventy requires all. Us banks to notify the feds of any transactions above ten thousand dollars. Really right that was in one thousand nine hundred feels like that was a lot of money in nineteen seventy like. It'd be a lot more one hundred thousand dollars now. Right but of course. There's no adjusting for inflation question. We had. What would that be today? I don't now interesting question. Essentially the act allowed the government to place tighter crosshairs on drug operations crime organizations and money launderers by tracking the movement of large piles of cash by the letter of the law. The salaries were guilty of structuring cash. Deposits as you pointed out in to keep totals below the reporting requirements and off the government's radar. The pursuit of sours was backed by then Maryland. Us Attorney Rod Rosenstein. Who would go on to serve as U S Deputy Attorney General and resign in twenty nineteen following a controversial tenure? I have the inflation calculator at us. Inflation CALCULATOR DOT COM. If in one thousand nine hundred seventy you purchase an item for ten thousand dollars in two thousand twenty the same item would cost sixty six thousand four hundred and eighty seven dollars. Oh my God now. That's going with the official inflation rates. Right really out right. So the government themselves say that that about this law was passed in nineteen seventy. You were close with one hundred thousand. I would say that it's probably at least one hundred thousand if you go with like what the real training to point five percent and it's probably way more than that. Yeah they play with those numbers all kinds of crazy ways. The showers is say we'd never even heard of the Bank Secrecy Act and didn't mean to break any little secret. I'm kidding secret. But that's the idea we had no idea for you. The Bank Secrecy. Act isn't for you. It's not for people to read. It's not the bankers. Know about it and that's about it. You don't learn about this stuff except when the when they come after you. I know I didn't until I read articles like this. Or or unless you are actually a terrorist or a money launderer or something and you have done the research to learn how to make deposits into banks or whatever then you might know about this. Yeah 'cause I mean if you're being financed by Osama bin Laden you can afford a lawyer right to advise you if you're running a mom and pop shop. He probably can't SARS describes they were about to take our money and run threaten us with jail and then expect us not to make a sound combine all that with sixteen hours a day of work on a farm and watch what happens to your life. Karen's parents my parents stating and so many people we know assumed we must have done at least some bad stuff because otherwise the government would never never bother us man. That's a heavy on your neck. Little community I guess the learned the Fallacy of that thing. Well I hope they learned it. I suspect but because this is you know it's so sad And it really just goes to show where we are today. I mean we would all love for people to be aware of how evil the government is but yet the mentality is they've experienced here is the the people they knew. Oh those folks must be doing something wrong. Otherwise the IRS wouldn't have shown up like that otherwise they wouldn't be getting investigated they must be doing. Something wrong must be and it just sort of by default believe whatever it is the government says we go a long way to go. If there's any step that anybody can take words More Freedom or liberty? Don't assume things when you see a folks of the government cloth badge in fact assume the opposite of what you are probably assuming and you're probably until proven guilty. Don't forget that just a cry. You know a charge is not a conviction it doesn't mean anything so on Costa Ten. Am on.

Coming up next