Add bitcoin and prepaid cards & cell phones to the war on cash

derryb

New bill also expands asset seizure to pretty much everything else you own

"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."

cohodk

Forgot the war on cash, the war on conspiracies is much more entertaining.

derryb

add coho to the war on cash.

cohodk

Was funny because I heard rick santelli on CNBC refer to the Fed as a coho salmon. My secret identity is becoming exposed. LMFAO!!!

cohodk

forcibly recruit even more unpaid spies

I'm sure many more would volunteer if they were paid. Lol. Got a love the hyperbole in the PM arena.

ricko

Once the Feds get control of the bitcoin situation, I believe their value will plummet... and I have no doubt they are working on it....Becoming way too much money for them not to have their share. Cheers, RickO

guitarwes

Just like prohibition, the Fed don't care if you rot your liver or kill someone driving drunk, all they want is a slice of the dollar pie..........

TwoSides2aCoin

Add Amazon to our war on peanuts.

Baley

Another forum battle in the war on common sense?

This news affects the average prepaid card user... about zero amount.

Criminals using some gift card racket to steal or launder money will find it more difficult to do so, with the reporting of large, structured, or otherwise suspicious activity.

Innocent citizens going about their day needn't fear the security cameras in stores, nor the body cams on cops.

bronco2078

they print money whenever they feel like it . Why do we even need to pay taxes? > @guitarwes said:

Just like prohibition, the Fed don't care if you rot your liver or kill someone driving drunk, all they want is a slice of the dollar pie..........

During prohibition the feds were deliberately poisoning alcohol . The whole process of denaturing alcohol is making something used in hundreds of products that is non poisonous into a poison because of taxation. They would rather you died than dodge a tax.

bigzestee

Anything sold that can be tracked will soon be taxed.

derryb

@Baley said:
Another forum battle in the war on common sense?

This news affects the average prepaid card user... about zero amount.

Criminals using some gift card racket to steal or launder money will find it more difficult to do so, with the reporting of large, structured, or otherwise suspicious activity.

Innocent citizens going about their day needn't fear the security cameras in stores, nor the body cams on cops.

"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." - Ben Franklin

BAJJERFAN

@bronco2078 said:
they print money whenever they feel like it . Why do we even need to pay taxes? > @guitarwes said:

Just like prohibition, the Fed don't care if you rot your liver or kill someone driving drunk, all they want is a slice of the dollar pie..........

During prohibition the feds were deliberately poisoning alcohol . The whole process of denaturing alcohol is making something used in hundreds of products that is non poisonous into a poison because of taxation. They would rather you died than dodge a tax.

Or better yet, stop using the stuff. A similar strategy could be used in today's war on drugs.