Justice Department Rolls Out An Early Form Of Capital Controls In America

[Ares]

Something stunning took place earlier this week, and it quietly snuck by, unnoticed by anyone as the "all important" FOMC meeting was looming. That something could have been taken straight out of the playbook of either Cyprus, or Greece, or the USSR "evil empire", or all three.

This is how the WSJ explained it:

The U.S. Justice Department’s criminal head said banks may need to go beyond filing suspicious activity reports when they encounter a risky customer.



“The vast majority of financial institutions file suspicious activity reports when they suspect that an account is connected to nefarious activity,” said assistant attorney general Leslie Caldwell in a Monday speech, according to prepared remarks. “But, in appropriate cases, we encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem.”

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/03/caldwell.jpg



The U.S. Justice Department’s criminal head said banks may need to go beyond filing suspicious activity reports when they encounter a risky customer.



“The vast majority of financial institutions file suspicious activity reports when they suspect that an account is connected to nefarious activity,” said assistant attorney general Leslie Caldwell in a Monday speech, according to prepared remarks. “But, in appropriate cases, we encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem.”





The remarks indicate that banks may be expected to do more than just file SARs, a responsibility that itself can be expensive and time-consuming.



Some banks already have close relationships with law enforcement, said Kevin Rosenberg, chair of Goldberg Lowenstein & Weatherwax LLP’s government investigation and white collar litigation group. Ms. Caldwell’s remarks “speak to moving forward in a more collaborative way,” said Mr. Rosenberg.



A tip-off from a bank about a suspicious customer could lead law enforcement to seize funds or start an investigation, Ms. Caldwell said.

What does this mean, and why is it so critical? Simon Black of International Man explains:

* * *

Justice Department rolls out an early form of capital controls in America

Imagine going to the bank to withdraw some cash.

Having some cash on hand is always a prudent strategy, and especially today when more and more bank deposits are creeping into negative territory, meaning that you have to pay the banks for the privilege that they gamble with your money.

You tell the teller that you’d like to withdraw $5,000 from your account. She hesitates nervously and wants to know why.

You try to politely let her know that that’s none of the bank’s business as it’s your money.

The teller disappears for a few minutes, leaving you waiting.

When she returns she tells you that you can collect your money in a few days as they don’t have it on hand at the moment.

Slightly irritated because of the inconvenience, you head home.

But as you pull into your driveway later there’s an unexpected surprise waiting for you: two police officers would like to have a word with you about your intended withdrawal earlier…

If this sounds far-fetched, think again. Because it could very well become a reality in the Land of the Free if the Justice Department gets its way.

Earlier this week, a senior official from the Justice Department spoke to a group of bankers about the need for them to rat out their customers to the police.

What a lot of people don’t realize is that banks are already unpaid government spies.

Federal regulations in the Land of the Free REQUIRE banks to file ‘suspicious activity reports’ or SARs on their customers. And it’s not optional.

Banks have minimum quotas of SARs they need to fill out and submit to the federal government.

If they don’t file enough SARs, they can be fined. They can lose their banking charter. And yes, bank executives and directors can even be imprisoned for noncompliance.

This is the nature of the financial system in the Land of the Free.

And chances are, your banker has filled one out on you—they submitted 1.6 MILLION SARs in 2013 alone.

But now the Justice Department is saying that SARs aren’t enough.

Now, whenever banks suspect something ‘suspicious’ is going on, they want them to pick up the phone and call the cops:

“[W]e encourage those institutions to consider whether to take more action: specifically, to alert law enforcement authorities about the problem, who may be able to seize the funds, initiate an investigation, or take other proactive steps.”

So what exactly constitutes ‘suspicious activity’? Basically anything.

According to the handbook for the Federal Financial Institution Examination Council, banks are required to file a SAR with respect to:

“Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more…”

It’s utterly obscene. According to the Justice Department, going to the bank and withdrawing $5,000 should potentially prompt a banker to rat you out to the police.

This may be a very early form of capital controls in the Land of the Free. This is the subject of today’s Podcast. You can listen in here (http://www.sovereignman.com/podcast/036-justice-department-rolls-out-an-early-form-of-capital-controls-in-america-16642/).

http://www.zerohedge.com/news/2015-03-20/justice-department-rolls-out-early-form-capital-controls-america

[mick silver]

this was talked about at the old gold is money forum that it would come true well well it here . just go to show you it's not your paper ... oh ps just wait till you have to have a gov id to shop for food and if you buy more then you need they call the cops on you

[palani]

According to the Justice Department, going to the bank and withdrawing $5,000 should potentially prompt a banker to rat you out to the police.

If this were actually money the bank would have no say about what you do with your money. Telling you they didn't have the cash and to come back in several days used to be called a 'bank holiday'. When you don't have enough assets to cover your liabilities the situation is called 'insolvency'.

With this background you go to 12 USC 411 and find that a FRN is intended for transfer between banks AND THEIR AGENTS. It isn't your money. It isn't even money (at least lawful money). If you handle it then you do so as a SLAVE. Your MASTER is the one who is responsible rather than you.

[7th trump]

If this were actually money the bank would have no say about what you do with your money. Telling you they didn't have the cash and to come back in several days used to be called a 'bank holiday'. When you don't have enough assets to cover your liabilities the situation is called 'insolvency'.

With this background you go to 12 USC 411 and find that a FRN is intended for transfer between banks AND THEIR AGENTS. It isn't your money. It isn't even money (at least lawful money). If you handle it then you do so as a SLAVE. Your MASTER is the one who is responsible rather than you.

Bahahahahahahaha...!
Lets see here...lets look at 12usc 411 shall we and see if palani is telling the truth.

Well heres 12usc411


12 U.S. Code § 411 - Issuance to reserve banks; nature of obligation; redemption

Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.


Nope don't see it as palani says.

Says right there they have to be receivable by all banks, national and member, for all taxes, customs and other public dues.

In fact, the old Treasury notes (prior the federal reserve system) has on them the exact same disclaimer...so how can palani be speaking the truth?
Answer is..........he doesn't speak any truth.
12usc 411 disclaims the opposite of what palani spews with his forked tongue.
And what the old senile liar says about going between bank to bank is the section of 411 that deals between the banks as I have highlighted in green.
Don't let the old fool convince you into believing a foolish conspiracy....he'd rather believe a conspiracy than research for the truth.
Don't be a sucker that's born every minute!

[midnight rambler]

...sez Satan's Lil' Helper...

[palani]

Don't be a sucker that's born every minute!

See. You can say something I agree with but then you volunteer to be a sucker.

If it were your money in the bank why would the gendarmes show up when you request it be withdrawn?

We ran into the same thing a few years back when selling some land near 53rd. The IRS had to check out why the price of land on one side of the road was so much less than the land on the other side (had to do with needing a sewage pumping station on the cheaper side) before they would let the sale continue. Does this look, sound or taste like an agency that doesn't have a seat at the table ahead of the salt?

[madfranks]

This is one of the reasons why I hope bitcoin and crypto currencies will really take off. People need more control over their money. Anyone with money in the banking sector is at risk of having everything taken and seized. There are many stories out there of people who, due to nothing more than bad luck, found themselves with empty bank accounts and no recourse.

[7th trump]

See. You can say something I agree with but then you volunteer to be a sucker.

If it were your money in the bank why would the gendarmes show up when you request it be withdrawn?

We ran into the same thing a few years back when selling some land near 53rd. The IRS had to check out why the price of land on one side of the road was so much less than the land on the other side (had to do with needing a sewage pumping station on the cheaper side) before they would let the sale continue. Does this look, sound or taste like an agency that doesn't have a seat at the table ahead of the salt?

Nice switch and bait trick Palani.
You want to address your lies about frns not having use in the public domain for public dues (debt)?

So you equate the IRS showing up to find out why a sale price is different at one location from another with..............its not your money?
That's about as asinine as it gets.
The IRS has an interest in the sale because of taxes and the amount of taxes owed to the government depends on the price.............not the money.
The question is deeper, which you completely ignore is, if the land was yours why is the IRS showing up?

I'm sure you read about that woman in Florida who went off the grid and is being forced to go back on grid by a judge?
Did anything jump out at you about what the judge said in that situation?
What did the judge give for a reason why the woman has to go back on the city grid?
It is the same reason why I don't pay federal income taxes on my earnings, but I used it against them.

I actually couldn't believe the judge admitted on record why the woman has to go back on grid...and it made it to main stream.
But nobody understands what's going on.

[7th trump]

...sez Satan's Lil' Helper...

Blah blah blah....you wouldn't know your ass from your nose when it comes to legalities.
Keep doing what you do best and suck up to everyone being your buddy by thanking them....even when they are wrong.
You stand for nothing!

[expat4ever]

Wasnt this all started to combat the war on terror? how many terrorists have they caught using the banking sector?

Its been awhile since I have had a bank account. Their loss and fault, not mine. However I am planning on trying to sell the house over the summer. Going to ask for payment in gold, silver or cash. No bank checks. I just dont see a bank cashing a check for me when I walk in off the street, for whatever the price of this house is.

I sold some silver couple uyears back in Pittsburgh. They wrote me a check for part of the payment. I went to the bank the check was drawn on to cash it and they said no. I had a family member with me who just so happened to have an account at the same bank. They cashed it for them.

IMO not cashing a check that is drawn on their bank is fraud. Why bother having a checking account it the bank wont honor the checks that are drawn on them.?

[palani]

So you equate the IRS showing up to find out why a sale price is different at one location from another with..............its not your money?
Not only is it not your money but it is not your house, your car, your food, your clothing or your relationship to your ex-wife. Likely there are so few things that belong to you that your mind cannot comprehend how you could possibly work your entire life and not actually OWN anything. I expect you pretend to work so that Deere can pretend to pay you.

[7th trump]

Not only is it not your money but it is not your house, your car, your food, your clothing or your relationship to your ex-wife. Likely there are so few things that belong to you that your mind cannot comprehend how you could possibly work your entire life and not actually OWN anything. I expect you pretend to work so that Deere can pretend to pay you.

Having a hard time with reasoning I see.
Thanks for playing.

[palani]

Having a hard time with reasoning I see. I have no obligation to make you see.

[7th trump]

I have no obligation to make you see.

And you expect everyone to listen to your ramblings?

You just play games...childish ones at that.

I have a branch off the tree out front.
I'll throw it and you can go fetch it.

[palani]

I'll throw it and you can go fetch it.
If you have nothing to say then just don't say anything.

[madfranks]

Wasnt this all started to combat the war on terror? how many terrorists have they caught using the banking sector?

Its been awhile since I have had a bank account. Their loss and fault, not mine. However I am planning on trying to sell the house over the summer. Going to ask for payment in gold, silver or cash. No bank checks. I just dont see a bank cashing a check for me when I walk in off the street, for whatever the price of this house is.

I sold some silver couple uyears back in Pittsburgh. They wrote me a check for part of the payment. I went to the bank the check was drawn on to cash it and they said no. I had a family member with me who just so happened to have an account at the same bank. They cashed it for them.

IMO not cashing a check that is drawn on their bank is fraud. Why bother having a checking account it the bank wont honor the checks that are drawn on them.?

What bank? I've never had a problem cashing a check from a bank where I didn't have an account.

[Ponce]

If this were actually money the bank would have no say about what you do with your money. Telling you they didn't have the cash and to come back in several days used to be called a 'bank holiday'. When you don't have enough assets to cover your liabilities the situation is called 'insolvency'.

With this background you go to 12 USC 411 and find that a FRN is intended for transfer between banks AND THEIR AGENTS. It isn't your money. It isn't even money (at least lawful money). If you handle it then you do so as a SLAVE. Your MASTER is the one who is responsible rather than you.

They did try that shit with me about 20 years ago....."Come back in a week and will have your cash"........hahhhahhaahahah I started yelling "WHAT DO YOU MEAN? THE BANK HAS NO MONEY? THE BANK IS BROKE?".......the banker "SHHHHHHHHH SHHHHHHH Let me check the back room to see if we have it handy for you......1/2 hour later I walked out of the bank with my $50,000 LOLLLLLLLLLL........... of course, now days they would simply call the cops to take me away.

V

[milehi]

What bank? I've never had a problem cashing a check from a bank where I didn't have an account.

I had to part with some Ag today. A big med bill. I'll be reimbursed but I wanted to square up everything. I was asked by the LCS to hold the check for a day 'till everything settled.

[expat4ever]

What bank? I've never had a problem cashing a check from a bank where I didn't have an account.

I think it was PNC bank.

[Neuro]

They did try that shit with me about 20 years ago....."Come back in a week and will have your cash"........hahhhahhaahahah I started yelling "WHAT DO YOU MEAN? THE BANK HAS NO MONEY? THE BANK IS BROKE?".......the banker "SHHHHHHHHH SHHHHHHH Let me check the back room to see if we have it handy for you......1/2 hour later I walked out of the bank with my $50,000 LOLLLLLLLLLL........... of course, now days they would simply call the cops to take me away.

V
They would send you to Cuba in an Orange Suit and battery clamps on your testicles today for that...

[7th trump]

They did try that shit with me about 20 years ago....."Come back in a week and will have your cash"........hahhhahhaahahah I started yelling "WHAT DO YOU MEAN? THE BANK HAS NO MONEY? THE BANK IS BROKE?".......the banker "SHHHHHHHHH SHHHHHHH Let me check the back room to see if we have it handy for you......1/2 hour later I walked out of the bank with my $50,000 LOLLLLLLLLLL........... of course, now days they would simply call the cops to take me away.

V

Well Ponce don't worry!
If you had lawful money in the bank they still wouldn't give it to you as the deposits are liabilities to them.
Has nothing at all to do with lawful money, dirt or wheel barrels.

[palani]

Has nothing at all to do with lawful money, dirt or wheel barrels.
Ever wonder why the hobbies of the blind don't include painting?

Those with no imagination cannot reason either.

[7th trump]

Ever wonder why the hobbies of the blind don't include painting?

Those with no imagination cannot reason either.
Depends on your definition of "imagination" and how you use it to perceive "reason".

I dont imagine something is there when I dont or cant see it.........that is what leads fools to beleive in conspiracy's (tales).
Nor do I allow my imagination to rule over logic or evidence.....that leads fools to assumption.
Both lead people to beleive in falsehoods.
And if falsehoods are beleived long enough it becomes a fools reality to which he'll carry a conviction of falsehood, dishonesty and lies.

Sound a lot like you not bringing forth any evidence of your falsehoods.....doesnt it?

[palani]

Sound a lot like you not bringing forth any evidence of your falsehoods.....doesnt it?

According to Plato things have an essence and they have an appearance. Anything that changes cannot be real. The essence must be unchangeable and the appearance must be unchangeable.

If a FRN changes value then it is not real.

If a gold $20 coin changes value then it is not real.

Things that are not real are of the imagination.

Don't worry. You are just having a waking dream. One of these days I hold hope that you will awaken.

[7th trump]

According to Plato things have an essence and they have an appearance. Anything that changes cannot be real. The essence must be unchangeable and the appearance must be unchangeable.

If a FRN changes value then it is not real.

If a gold $20 coin changes value then it is not real.

Things that are not real are of the imagination.

Don't worry. You are just having a waking dream. One of these days I hold hope that you will awaken.

Says you,......................but you never find any convincing evidence for any of your tales.

[palani]

you never find any convincing evidence for any of your tales.
For you to accept my rhetoric you would have to acknowledge that your previous actions were faulty. You have built up such a wall to defend your beliefs I have neither the time nor the inclination to breach them.

[7th trump]

For you to accept my rhetoric you would have to acknowledge that your previous actions were faulty. You have built up such a wall to defend your beliefs I have neither the time nor the inclination to breach them.

My actions aren't faulty...I can, and have, supplied the law/s, court cases as foundation.
I'm actions are based on foundation of the law and how its interpreted. Your actions and beliefs are based on nothing but hearsay, conspiracy and opinions of other goof balls who have no business giving out opinions.

[palani]

I can, and have, supplied the law/s, court cases as foundation.
Yes I know. Your deficiencies are glaring.

[midnight rambler]

Now that is one very scary looking female creature.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/03/caldwell.jpg

[monty]

Now that is one very scary looking female creature.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/03/caldwell.jpg





Imagine waking up to something like that every morning.

[Neuro]

Imagine waking up to something like that every morning.
Hehehe! Coyote ugly! Waking up one morning after a very wet night, with your arm under her, you're trapped! Instead of risking waking her up by pulling your arm away, you instead decide on gnarling your arm off! LMAO