In late 1998 the FDIC proposed new so-called Know Your Customer regulations. These would have forced banks to "monitor" their customers' checking and savings account and report any "unusual transactions" to the federal government. This frightening threat to financial privacy would have forced the banks to:
Thanks to a huge Internet campaign called "Stop Bank Spying", the proposal was defeated. As of Monday, March 8, 1999, over 250,000 emails and letters had been sent to the FDIC with all but a handful (less than 25) being opposed to the banking industry proposal.
It Was All A Smokescreen!
The main goal of the "Stop Bank Spying" campaign was to create public awareness of and opposition to the invasions into our privacy that are going on today. Unfortunately, even now that the KYC proposal has been withdrawn, the war for privacy has been lost a long time ago - at least in the US. The banks have been spying on us for many years, and will continue to do so!
Under regulations issued by the Treasury Department and the five US bank regulatory agencies in early 1996, banks must scrutinize the activity of each customer who walks into their bank and determine whether or not it is "suspicious". Failure to do so could expose bank employees and executives to prosecution, fines and penalties that, in extreme cases, can reach as high as $500,000 and 20 years in prison.
Ready for a shock? Read the article below:
http://www.moneylaundering.com/SAAdec97.htm
You want more? To see how crazy this whole thing has become, read the page below for a list of what could be considered to be a "suspicious activity":
http://www.moneylaundering.com/SARListNew.htm
They Know A Lot About You...
Did you have to fill out a form asking about your name, SS#, address, phone number, job, employer, income etc. when you opened your bank account? Did they make a copy of your passport or driver's license? If so, all this information is already in the bank's database and chances are that they have used it years ago to profile you. Just try depositing $10,000 cash into your bank account (like just after selling your old car) when you normally make $4,000 a month - this will raise more than just one red flag!
You can even view the secret form that your friendly banker will fill out to report you as a suspected criminal and money launderer. It's on the Web! Just visit the following URL and scroll down to ...
"The Suspicious Activity Report Form"
http://www.moneylaundering.com/resources.htm
Are the Postal Employees Spies?
But it has gotten even worse... not only have they got the bank employees spying on you they now have the postal mail clerks acting as "informants".
Postal employees are now being trained to act as a law enforcement "informants" and to report "suspicious" money order purchasers. This "suspicious activity" report is modeled after the "know you customer".
Can you believe it?
If you are "counting your money" while standing in line to buy your money order, and perhaps are wearing sun glasses at the same time... the postal worker is now ask to complete a report best "identifying" the customer by providing name and address (if known or on mail), license plate number of car (if can be seen by clerk), basic physical description... the works!
If you appear "suspicious" to the postal worker at the counter you could find yourself on a "suspect list" for any number of sinister financial crimes or possible tax evasion.
Fortunately the government has shown restraint in instructing postal employees NOT to follow the customer out of the post office. Thank goodness for that... would you want a postal worker following you home?!How soon until the "agent" making door to door postal deliveries will be asked to report any "suspicious" members of the community on their route? Perhaps someone who appear to be living a better life than the postal worker.
This evil system is best described by using the words
which seems to be the new motto for the "land of the free".
Is There A Solution?
You bet there is. We've been informing the public about the advantages of reclaiming their financial privacy by implementing offshore planning solutions and thinking "out of the box".
For some people it is a concept difficult to understand, some even think it is "illegal" and "anti-government". Not so! It is (still) perfectly legal to take advantage of all the financial opportunities available to those that look beyond their shores.
History has greatly elaborated on the fact that all empires that become too oppressive eventually vanish and are replaced by nations that have better ways of life. In the long term, all oppressive governments will eventually dig their very own grave.
If you can't wait that long, and one country tries to oppress you, no problem - just go somewhere else! In today's interconnected world it doesn't make any difference in terms of convenience whether you have your money in US Banks (which are all infected by the Federal Reserve Banking Disease, meaning that less than 4% of "your" money on deposit actually exist in cash), or in offshore banks.
It does however make a big difference in terms of privacy and safety:
Wake Up...
The FDIC is certainly still laughing at the great joke they have staged by proposing the "Know Your Customer" regulations. These rules had already been implemented years ago! 99% of the "proposed" Know Your Customer Rules are already in place and practiced by most US banks! Quite frankly, if you value your privacy then about the only solution is to transfer your money offshore immediately... as long as you still can.
The time has come. It appears that an increasing number of individuals are finally waking up and becoming aware of the intolerable invasions of our privacy that have been going on for too long!
...And Take Immediate Action!
If voting, or sending letters of protest to the FDIC for that matter, could really change things, it would have been made illegal a long time ago. And in fact, the FDIC invited comments about something that had already been implemented a long time ago! Now they can proclaim, "Due to public protest we have decided to withdraw these proposed rules." ... but it was all a prank, a joke.
You can definitely give a much stronger signal by voting with your money, but only as long as it's still possible!
Addicted to Power and Control
It's a sad fact that all these bureaucrats don't realize that they are going to achieve the exact opposite of what they really want. People and funds are already leaving the US in the droves, despite and because of desperate measures to the contrary. History shows that oppression and intimidation aren't going to work... especially not with those millionaires who understand how money works!
The only way to stop the current and upcoming exodus is to abolish the IRS and the income tax (which are the prime reasons for wealthy individuals leaving the US), and to make it as easy as possible to renounce one's US citizenship without any tax or other consequences. At the same time, attractive incentives would have to be set for remaining in or returning to the US, and for remaining a US citizen.
If this isn't going to happen (and I have little if any hope), there will be a point when there will be only two options left:
Remember who you are dealing with here. These are not wise leaders who act in a beneficial way and allow freedom to happen, as they would then feel threatened in their position. Instead, what they really want is power and control for its own sake. They are mentally and emotionally insecure, and simply need reassurance and confirmation of their self-worth by controlling others. Their actions speak for themselves...
What else can we say? You have to experience privacy and freedom to really enjoy its benefits. Get started today, you will never want to look back!
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