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Author Topic: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing  (Read 1604 times)

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Offline ABX

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Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« on: June 16, 2017, 09:47:41 pm »
It also greatly expands Civil Asset Forfeiture.

Quote
......This one is almost too ridiculous to believe.

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.....

....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.....

http://www.theeventchronicle.com/finanace/congress-submits-bill-making-illegal-hold-cash-bitcoin-assets-outside-bank-without-informing-writing/#




Here is the actual bill; hyperbole in the article aside, it is still pretty bad.
https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5


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Offline ABX

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #1 on: June 16, 2017, 09:50:05 pm »
Sponsor:    Sen. Grassley, Chuck [R-IA] (Introduced 05/25/2017)
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Offline libertybele

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #2 on: June 17, 2017, 01:23:48 am »
So far there are 3 co-sponsors:

Sen. Feinstein, Dianne [D-CA]  05/25/2017
Sen. Cornyn, John [R-TX]     05/25/2017
Sen. Whitehouse, Sheldon [D-RI]   05/25/2017
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Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline DiogenesLamp

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #3 on: June 17, 2017, 01:28:40 am »
Quote from: libertybele on June 17, 2017, 01:23:48 am
So far there are 3 co-sponsors:

Sen. Feinstein, Dianne [D-CA]  05/25/2017
Sen. Cornyn, John [R-TX]     05/25/2017
Sen. Whitehouse, Sheldon [D-RI]   05/25/2017


Cornyn needs to go,   but Mitch McConnell and Thad Cochran needed to go more. 


Also John McCain and Linda Graham need to go. 


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‘What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.’
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Offline endicom

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #4 on: June 17, 2017, 01:47:10 am »
Assley and Cornhole are for it?
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Offline DB

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #5 on: June 17, 2017, 01:49:36 am »
Sorry guys, but Sessions is a big proponent of civil forfeiture. All without due process. You have to prove your innocence - if you can - to get your money back. VERY VERY WRONG.

It is why I didn't support Sessions for AG.
« Last Edit: June 17, 2017, 01:49:59 am by DB »
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Offline Idiot

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #6 on: June 17, 2017, 02:28:39 am »
Quote from: libertybele on June 17, 2017, 01:23:48 am
So far there are 3 co-sponsors:

Sen. Feinstein, Dianne [D-CA]  05/25/2017
Sen. Cornyn, John [R-TX]     05/25/2017
Sen. Whitehouse, Sheldon [D-RI]   05/25/2017

Cornyn has been a HUGE disappointment.  Guess I'm going to have to get out and work to get him ousted.
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Offline Ancient

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #7 on: June 17, 2017, 03:29:45 am »
Quote from: mrpotatohead on June 17, 2017, 02:28:39 am
Cornyn has been a HUGE disappointment.  Guess I'm going to have to get out and work to get him ousted.
cornball was a rino before and still is one now.  But he runs a campaign that would make you  think otherwise.
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Offline LadyLiberty

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #8 on: June 17, 2017, 03:49:29 am »
Quote from: Ancient on June 17, 2017, 03:29:45 am
cornball was a rino before and still is one now.  But he runs a campaign that would make you  think otherwise.

Cornyn hasn't fooled you in the least!  BTW, welcome to TBR.
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Online cato potatoe

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #9 on: June 17, 2017, 04:29:20 am »
Hopefully Rand Paul will lead a filibuster.  Between this and the ruling in Minnesota, it has been a banner day for the police state.
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Offline RoosGirl

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #10 on: June 17, 2017, 05:07:06 am »
Well thank God the Republicans have the majority.  *****rollingeyes*****

I hadn't cashed a check in a long time and found out a couple weeks ago that it is now standard policy at banks to charge a percentage of the check amount to cash it.  For example, if I wrote you a check from an account held at Nations Bank and you went to a Nations Bank to get cash you would be charged 3% of the check amount to receive the cash.  So the bank policies are pushing us in the direction of this bill also.
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Offline Formerly Once-Ler

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #11 on: June 17, 2017, 05:12:59 am »
Quote from: DiogenesLamp on June 17, 2017, 01:28:40 am

Cornyn needs to go,   but Mitch McConnell and Thad Cochran needed to go more. 


Also John McCain and Linda Graham need to go.

Yes!!!  Republicans need to go.  Pick a few more to go after. 888high58888

www.youtube.com/watch?v=QZCzHYMEIeo
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Offline Chosen Daughter

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #12 on: June 17, 2017, 05:25:02 am »
Quote from: RoosGirl on June 17, 2017, 05:07:06 am
Well thank God the Republicans have the majority.  *****rollingeyes*****

I hadn't cashed a check in a long time and found out a couple weeks ago that it is now standard policy at banks to charge a percentage of the check amount to cash it.  For example, if I wrote you a check from an account held at Nations Bank and you went to a Nations Bank to get cash you would be charged 3% of the check amount to receive the cash.  So the bank policies are pushing us in the direction of this bill also.

That's crazy.
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AG William Barr: "I'm recused from that matter because one of the law firms that represented Epstein long ago was a firm that I subsequently joined for a period of time."

Alexander Acosta Labor Secretary resigned under pressure concerning his "sweetheart deal" with Jeffrey Epstein.  He was under consideration for AG after Sessions was removed, but was forced to resign instead.

Offline Chosen Daughter

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Re: Congress submits bill making it illegal to hold cash, Bitcoin, or other assets outside of a bank without informing them in writing
« Reply #13 on: June 17, 2017, 05:28:35 am »
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AG William Barr: "I'm recused from that matter because one of the law firms that represented Epstein long ago was a firm that I subsequently joined for a period of time."

Alexander Acosta Labor Secretary resigned under pressure concerning his "sweetheart deal" with Jeffrey Epstein.  He was under consideration for AG after Sessions was removed, but was forced to resign instead.
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