You haven’t missed a thing, HS.
As free traders seeking to freely trade a free market in foreign currencies, our problem is that the government uses a corrupted definition of money laundering.
Here’s the accurate definition:
Here is the government’s unstated definition:
- Money Laundering is the process of moving money around in any way which fails to leave a paper-trail that the government can follow to determine where the money came from, whether it’s been fully taxed, and where it’s going.
This leads to the government’s unstated policy:
- If we can’t track what you are doing with your money, then we assume that your money is dirty, and you are attempting to launder it. In every such case, we will charge you with money laundering, and take steps to seize your assets.
One result of this policy is that I can’t walk into my bank and withdraw $10,000 without kneeling before the government and asking, “Nanny-Mother, may I? – Yes, Nanny-Mother, I will fill out all your forms, and tell you why I want some of my own money, and what I intend to do with it.”
If I make more than a couple of withdrawals of less than $10,000 each, the government will charge me with structuring my withdrawals so as to avoid the $10,000 reporting requirement. Then, the government will take steps to seize my assets.
If I have a stash of cash at home, and decide to remove from my stash enough money to buy a car, the car dealer won’t sell me a car for cash – not because he thinks the cash might be counterfeit, but because, if he accepts the cash, the government will come down on him for aiding and abetting a “money-laundering scheme”. Never mind that it says – in all caps – on every piece of US currency:
THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE. Yeah, right.
Welcome to the world of The Patriot Act, and FATCA. Welcome to George Orwell’s 1984
Big Brother is Watching you, and Big Brother is watching your money.