Hydrogen (OP)
Legendary
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Activity: 2562
Merit: 1441
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June 18, 2017, 12:55:44 AM |
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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-bitcoinUS 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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The Sceptical Chymist
Legendary
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Activity: 3332
Merit: 6833
Cashback 15%
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June 18, 2017, 01:46:15 AM |
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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.
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. .HUGE. | | | | | | █▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄ | ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ . CASINO & SPORTSBOOK ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ | ▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄█ | | |
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xypos
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June 18, 2017, 02:51:21 AM |
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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
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iamTom123
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June 18, 2017, 05:15:43 AM |
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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.
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Esphere.in
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June 18, 2017, 05:33:20 AM |
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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.
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Yakamoto
Legendary
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Activity: 1218
Merit: 1007
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June 18, 2017, 05:46:42 AM |
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...you see who we have as president. A psychopath. ...
kek <snip>
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.
US gov't is bought out on both sides of the aisle. Never believe it is one party or another; that's how they manipulate the system. 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.
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Dude.Lebowski
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June 18, 2017, 05:58:05 AM |
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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-bitcoinUS 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.
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Okay. The old man told me to take any rug in the house.
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Iranus
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June 18, 2017, 12:37:22 PM |
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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.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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hawthelegend
Member
Offline
Activity: 98
Merit: 10
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June 18, 2017, 12:46:33 PM |
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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..
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Kprawn
Legendary
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Activity: 1904
Merit: 1073
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June 18, 2017, 12:54:56 PM |
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The world is in a paranoid state, since 9/11 and all the attacks on local soil. They are not capable to keep foreigners from entering their country and committing horrible crimes against their local citizens. Now they want to use this as an excuse to control their own citizens. {Police state} In the UK {big cities} you cannot move your ass and you are under surveillance all the time. Big Brother is watching you 24/7. The next move is to control ALL private finances and Bitcoin/Crypto currencies and cash is preventing this.
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pinkflower
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June 18, 2017, 01:10:53 PM |
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That law would give incentive to start buying and holding anonymous cryptocurrencies like XMR. Soon enough the government will start mapping the transactions in the blockchain and would start grouping the wallets together and then tracing a person's BTC activities.
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pearlmen
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June 18, 2017, 01:13:19 PM |
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See with whatever they are doing they feel its the right way to go about it and I don't blame them because they feel its their responsibility to keep their citizens safe and if they have fail in ensuring they keep the city safe, they believe they can do more in making that funds available for such much more difficult. Like I said, its not their fault but the individuals across the globe who derived joy in the downfalls or cries of other individuals that gave them the opportunity to legislate even to the uttermost part of our lives.
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Cruxer
Full Member
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Activity: 184
Merit: 100
Bitcoin FTW!
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June 19, 2017, 11:46:20 PM |
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Zerohedge, inflaming passions to hype precious metals as always.
this one and also this is FUD, regulators can't regulate decentralised cryptos which Bitcoin is i hope they fail miserably in every attempt to censor/regulate this
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Lancusters
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June 19, 2017, 11:52:46 PM |
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That law would give incentive to start buying and holding anonymous cryptocurrencies like XMR. Soon enough the government will start mapping the transactions in the blockchain and would start grouping the wallets together and then tracing a person's BTC activities.
If such a law is passed that the only possibility to circumvent this law will completely refuse to pay the dollars and buy goods with bitcoin. While it will be difficult so you'll have to collect bitcoins in the account and wait for better times.
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gentlemand
Legendary
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Activity: 2590
Merit: 3013
Welt Am Draht
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June 19, 2017, 11:56:04 PM |
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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 Gift cards? How bizarre. They're already fully traceable by the account they're applied to, let alone the address you ship products to. I'd say the EU will end up with more heinous regulations than the US. They have more terrorism and possibly more of an authoritarian bent too. The EU will go cashless far quicker than America as well and that's when it really gets heavy.
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hv_
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Activity: 2506
Merit: 1055
Clean Code and Scale
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June 20, 2017, 04:24:02 AM |
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Next: Gold is evil
Diamonds
Art
Any store of value
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Carpe diem - understand the White Paper and mine honest. Fix real world issues: Check out b-vote.com The simple way is the genius way - Satoshi's Rules: humana veris _
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HabBear
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June 20, 2017, 05:06:34 AM |
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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.
Most of what you quoted is completely inflammatory and false. Did you even read the Bill? I'll focus on something that you said, show me where the the above statement you made is mentioned in the HR Bill. We can wait... While we're waiting, let's talk about what this Bill is after. It's after controlling money laundering. The only mention of asset forfeitures is if you are suspected to be involved in money laundering or conducting illegal activity via financial transactions. There's no mention of Bitcoin. There is mention of "money laundering and tumbling". The comment about prepaid cards is because people use dirty money to buy prepaid Visa or Amex cards to turn that dirty money clean. They launder their money through these cards. There's no where in the document that says if you have cash at your home you have to register its existence. Anyway, did you find the mention of "ciivl asset forfeiture" in absence of committing a money laundering crime? I'm still waiting....still waiting.
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Kakmakr
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Activity: 3444
Merit: 1957
Leading Crypto Sports Betting & Casino Platform
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June 20, 2017, 05:58:39 AM |
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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.
Most of what you quoted is completely inflammatory and false. Did you even read the Bill? I'll focus on something that you said, show me where the the above statement you made is mentioned in the HR Bill. We can wait... While we're waiting, let's talk about what this Bill is after. It's after controlling money laundering. The only mention of asset forfeitures is if you are suspected to be involved in money laundering or conducting illegal activity via financial transactions. There's no mention of Bitcoin. There is mention of "money laundering and tumbling". The comment about prepaid cards is because people use dirty money to buy prepaid Visa or Amex cards to turn that dirty money clean. They launder their money through these cards. There's no where in the document that says if you have cash at your home you have to register its existence. Anyway, did you find the mention of "ciivl asset forfeiture" in absence of committing a money laundering crime? I'm still waiting....still waiting. " (1) detailing a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States; and..... " It might not have mentioned Bitcoin directly, but digital currencies generally point to Crypto currencies too, so you might expect that officials at the border crossing would search for any type of digital currencies when they search you or your vehicle. Money laundering and terrorism has always been used as an excuse to invade people's lives, even if you are not involved in any of these things. The government wants full control and they will enforce whatever they want or whatever they can get away with, to do that. You give them power with your vote. ^hmmmmmm^
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profitgenerator212
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June 24, 2017, 06:51:22 AM |
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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 Gift cards? How bizarre. They're already fully traceable by the account they're applied to, let alone the address you ship products to. I'd say the EU will end up with more heinous regulations than the US. They have more terrorism and possibly more of an authoritarian bent too. The EU will go cashless far quicker than America as well and that's when it really gets heavy. Not true, the police brutality and all the violence in the US speaks for itself. It is true that there is an authoritarian sentiment in the air with Neo Nazis and other forms of scumbags marching on the streets but they are an annoying minority. Tyranny comes when the economy goes south, and the US is far closer to an economic collapse with it's 20 trillion $ debt.
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