Banking
Banking
7
7
0
Where is Privacy?
I must have been asleep! I recently came across information that the fed now wants unfetter access to mine and other citizen's personal banking information without "probable cause". Is this not a violation of language of the 4th Amendment that says, "The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches....shall not be violated...."
Here are some references of interest:
https://www.wired.com/1993/06/big-brother/ (1993) Big Brother Wants to Look in your Bank Account
https://m.finweb.com/banking-credit/when-can-others-see-my-bank-accounts-balance.html (Current) When Can Others See My Bank Accounts Balance?
https://www.forbes.com/sites/irswatch/2021/04/28/banks-will-be-required-to-report-account-balances-account-outflows-and-inflows-to-irs-under-new-biden-plan/ (Apr 2021) Under Biden Plan, The IRS Would Know A Lot More About Your Bank Accounts
https://www.foxbusiness.com/politics/larry-kudlow-uncle-sam-want-to-dig-into-your-bank-account-without-permission (May 2021) Larry Kudlow: Uncle Sam wants access to your bank account without permission
https://www.fdic.gov/analysis/household-survey/index.html (Current) How America Banks: Household Use of Banking and Financial Services
https://sentinelksmo.org/biden-proposal-would-give-the-irs-access-to-your-bank-accounts/ (Sep 2021) Biden proposal would give the IRS access to your bank account. See also https://www.fdic.gov/analysis/household-survey/2019report.pdf.
“Currently, banks are only required to report deposits of $10,000 or more, however, the proposal would require banks and other financial institutions to report to the IRS on the deposits and withdrawals of all business and personal accounts with a balance of more than $600.”
Such actions on the part of the fed clearly place every American regardless of race, religion, sex, political bent, etc. as a threat just because they want to bank and trust their bank to maintain account privacy and security.
What are your thoughts?
I must have been asleep! I recently came across information that the fed now wants unfetter access to mine and other citizen's personal banking information without "probable cause". Is this not a violation of language of the 4th Amendment that says, "The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches....shall not be violated...."
Here are some references of interest:
https://www.wired.com/1993/06/big-brother/ (1993) Big Brother Wants to Look in your Bank Account
https://m.finweb.com/banking-credit/when-can-others-see-my-bank-accounts-balance.html (Current) When Can Others See My Bank Accounts Balance?
https://www.forbes.com/sites/irswatch/2021/04/28/banks-will-be-required-to-report-account-balances-account-outflows-and-inflows-to-irs-under-new-biden-plan/ (Apr 2021) Under Biden Plan, The IRS Would Know A Lot More About Your Bank Accounts
https://www.foxbusiness.com/politics/larry-kudlow-uncle-sam-want-to-dig-into-your-bank-account-without-permission (May 2021) Larry Kudlow: Uncle Sam wants access to your bank account without permission
https://www.fdic.gov/analysis/household-survey/index.html (Current) How America Banks: Household Use of Banking and Financial Services
https://sentinelksmo.org/biden-proposal-would-give-the-irs-access-to-your-bank-accounts/ (Sep 2021) Biden proposal would give the IRS access to your bank account. See also https://www.fdic.gov/analysis/household-survey/2019report.pdf.
“Currently, banks are only required to report deposits of $10,000 or more, however, the proposal would require banks and other financial institutions to report to the IRS on the deposits and withdrawals of all business and personal accounts with a balance of more than $600.”
Such actions on the part of the fed clearly place every American regardless of race, religion, sex, political bent, etc. as a threat just because they want to bank and trust their bank to maintain account privacy and security.
What are your thoughts?
Big Brother Wants to Look in your Bank Account
Posted from wired.com
Taxes
Government
Banking
Privacy
Posted >1 y ago
Responses: 4
5
5
0
CPO Nate S. Honestly this is too much to take in all at once... but my initial reaction is " let them eat shit & bark at the moon!"
(5)
(0)
1
1
0
I don't believe you were asleep. I believe the media has been treating us like mushrooms.
(1)
(0)
1
1
0
It isn't a search or seizure if the bank voluntarily gives the information.
And I hate to break it to you, but the government has had access to all of our data for a while now. Not legally, in many cases. But they still have it.
And I hate to break it to you, but the government has had access to all of our data for a while now. Not legally, in many cases. But they still have it.
(1)
(0)
CPO Nate S.
Right! I am not naive!!!
What I am is dismayed about is the weaponization of this information against honest citizens with honest disagreements with its government! If I want to buy a college football jersey of my favorite team for $150 why must the government know and more importantly why do they even care? What it is is a breach of faith! Banks are now so cowardly that they'd give in rather than standup!
So, it begs the question why now have a FICO or any such system of this nature regarding credit management when it simply does not matter?
So, I understand homeland security, yet this strikes of the tactics of the former Soviet Union. They are focused on the "good guys" and completely ignoring the "bad guys". It is interesting how unaware Americans are about these tactics. As Cpl (Join to see) stated regarding the media. Sinks of the tactics of Pravda and not a truly FREE press. Unfortunately, there are even some on RP who seem to be Ok with "civilian authoritarianism". to the degree that is being demonstrated.
While President Lincoln's word "...a government of the people, by the people, and for the people...." is as Cpl Vic Burk suggest doing by the way of DoDo bird. My father a post WWII immigrant who also became a citizen and served in the USAF until his 100% SCD grounded him, is turning over in his grave. He would have been 82 this coming October. Dad, I am sorry your soul is being tortured as you watch what is happening to a country you adopted as your own and is becoming what you escaped from in order to be - FREE!
What I am is dismayed about is the weaponization of this information against honest citizens with honest disagreements with its government! If I want to buy a college football jersey of my favorite team for $150 why must the government know and more importantly why do they even care? What it is is a breach of faith! Banks are now so cowardly that they'd give in rather than standup!
So, it begs the question why now have a FICO or any such system of this nature regarding credit management when it simply does not matter?
So, I understand homeland security, yet this strikes of the tactics of the former Soviet Union. They are focused on the "good guys" and completely ignoring the "bad guys". It is interesting how unaware Americans are about these tactics. As Cpl (Join to see) stated regarding the media. Sinks of the tactics of Pravda and not a truly FREE press. Unfortunately, there are even some on RP who seem to be Ok with "civilian authoritarianism". to the degree that is being demonstrated.
While President Lincoln's word "...a government of the people, by the people, and for the people...." is as Cpl Vic Burk suggest doing by the way of DoDo bird. My father a post WWII immigrant who also became a citizen and served in the USAF until his 100% SCD grounded him, is turning over in his grave. He would have been 82 this coming October. Dad, I am sorry your soul is being tortured as you watch what is happening to a country you adopted as your own and is becoming what you escaped from in order to be - FREE!
(1)
(0)
Read This Next
Continue with Facebook 
Continue with Google