The Phaserl


Before Taking Money Out of the Bank, You Must Know These 3 Laws

by Dave Hodges, The Common Sense Show:

The Most Requested Subject In the History of The Common Sense Show

I have been inundated with requests for more information on how to get your money out of the bank. If you think your money is safe while sitting in the bank, you desperately need to do some investigation. S&P has previously downgraded the 8 major banks in the United States. They are already in a lot of trouble.

There is no doubt that anyone who leaves all of their money in the bank needs their head examined. However, if you walk up to your “friendly” teller and ask to withdraw all, or most, of your money, you will either be shown the door and/or arrested for violating federal banking laws. Yes, it is now a crime to take your own money out of your own bank account, just ask former Speaker of the House, Dennis Hastert who has been indicted and now convicted for taking HIS money out of HIS bank account.

Even Congressmen Aren’t Safe From the Banksters

Federal prosecutors charged and convicted a former Republican House speaker, Dennis Hastert, with illegally structuring cash withdrawals from bank accounts which were designed to conceal payments to someone he committed “prior misconduct” against and Hastert is also accused of lying to the FBI about the event. The indictment did not specify who Hastert was paying off for his prior misconduct, but anonymous sources allege that Hastert had sexual contact with a minor when he was a high school wrestling coach and the former student was extorting the former Congressman. A total of $3.5 million was involved according to the prosecutors. The important point to consider here is that this former Congressmen is not headed to prison for sex with a minor, or facilitating a bribe, he is headed to prison for TAKING HIS OWN MONEY OUT OF HIS BANK ACCOUNT!

You should be concerned with going to prison. There is no question that you need to take the majority of your money out of the bank, IMMEDIATELY, but what are the pitfalls in doing so? What should every American know prior to attempting to liberate the fruits of their own labor from the bankster controlled central bank?

The Three Laws You Must Know Before Taking Your Money Out of the Bank

Taking what was your money out of the bank is no longer a matter of walking up to your friendly teller with a withdrawal slip and the teller cheerfully honors your request and you calmly exit the bank with your money in tow. In fact, your teller is trained to look for certain indicators in any cash withdrawal of any significance.

As you move to withdraw the bulk of your money, there are three federal banking laws that you should be cognizant of, namely, Cash Transaction Report (CTR), a Suspicious Activity Report (SAR) and structuring. Before proceeding with the planed withdrawal of your money, I would strongly suggest that you read the following federal guidelines as it relates to CTR’s as produced by the The Financial Crimes Enforcement Network (FinCEN). All the federal regulations contained in this article are elucidated in this series of federal reports.

Before withdrawing your money, please be aware of these three regulations related to getting your money out of the bank.

(1) CTR

Federal law requires that the bank file a report based upon any withdrawal or deposit of $10,000 or more on any single given day.The law was designed to put a damper on money laundering, sophisticated counterfeiting and other federal crimes.

To remain in compliance with the law, financial institutions must obtain personal identification, information about the transaction and the social security number of the person conducting the transaction.

Technically, there is no federal law prohibiting the use of large amounts of cash. However, a CTR must be filed in ALL cases of cash transaction regardless of the reason underlying the transaction. This means your cash transaction will be on the radar.

(2) Structuring and (3) SAR

There will undoubtedly be some geniuses whose math ability will tell them that all they have to do is to withdraw $9,999.99 and the bank and its protector, the federal government will be none the wiser. It is not quite that simple. Here are a few examples of structuring violations that one should be aware of:

1. Barry S. has obtained $15,000 in cash he obtained from selling his truck. He knows that if he deposits $15,000 in cash, his financial institution will be required to file a CTR. Instead he deposits $7,500 in cash in the morning with one financial institution employee and comes back to the financial institution later in the day to another employee to deposit the remaining $7,500, hoping to evade the CTR reporting requirement. Barry should have used multiple accounts to conduct this transaction.
2. Hillary C. needs $16,000 in cash to pay for supplies for her arts and crafts business. Hillary cashes an $8,000 personal check at a financial institution on a Monday. She subsequently cashes another $8,000 personal check at the bank the following day. Hillary is careful to have cashed the two checks on different days and structured the transactions in an attempt to evade the CTR reporting requirement. Hillary should have made irregular deposits on staggered days covering a significant period of time. Or better, yet she should convert her soon worthless cash to precious metals.
3. A married couple, Bill and Hillary, sell a vehicle for $12,000 in cash. To evade the CTR reporting requirement, Bill and Hillary structure their transactions using different accounts. Bill deposits $8,000 of that money into his and Hillary’s joint account in the morning. Later that day, Hillary deposits $1,500 into the joint account, then $2,500 into her sister’s account, which is later transferred to Bill and Hillary’s joint account at the same bank. Again, Bill and Hillary should have used multiple banks.
The aggregate total of the three transactions totals more than the $10,000 threshold, therefore, a SAR would be filed by the bank and you would be the subject of a federal investigation as all three of the above cases clearly violate the federal banking laws related to structuring. It is a federal crime to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement. In these instances, the bank is required to file a SAR which serves to notify the federal government of an individual’s attempt tostructure deposits or withdrawals by circumventing the $10,000 reporting requirement.

Structuring transactions to prevent a CTR from being reported can result in imprisonment for not more than five years and/or a fine of up to $250,000. If structuring involves more than $100,000 in a twelve month period or is performed while violating another law of the federal government, the penalty is doubled. This is what former Speaker of the House, Dennnis Hastert is facing.

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3 comments to Before Taking Money Out of the Bank, You Must Know These 3 Laws

  • Craig Escaped Detroit

    Open a GoldMoney account & put in a few million bucks of gold deposits.

    Give the empty debit card to the person you wish to pay….go to your online acct & transfer as much money onto the card as you wish, and let the card-holder use the pin number to buy all the gold, silver, cars, etc that he likes.

    Goldmoney is not a bank, it is a gold seller & vaulting service. Office is in Canada, vaults in several countries, & debit card can be anywhere. It is the card that spends your gold bullion,…card can be USD, POUNDS, or a few other currencies.

    There are NO FACTA or other reporting requirements because it’s not a bank, not stocks or bonds. It’s an ”on-line” bullion dealer, seller, & middle-man.

    One thing I don’t like about BTC is the blockchain records every transaction forever. Nothing anonymous about it,…they even caught the Dread Pirate Roberts.

    Compared to bitcoins, you’d have better luck to remain anonymous if you owned an Afghani-Poppy farm.

  • Paulie K

    First of all it is not your money. The “currency” or Federal Reserve Note is a form of scrip or a debt obligation. It is a negative as it is owed by the bankrupt US Federal Gov. You have been allowed to use these debt obligations as if they were money to keep the bankrupt Federal Gov. and its debt slaves active in an exchange for goods and services as there is no asset backed money in circulation.

    When Janet Yellin says the Federal Reserve is above the President she is correct as the owners of the Federal Reserve are the holders of the US Debt and the US Gov. has pledged all assets including your labor to the holders of the debt as surety under bankruptcy laws. Because of the way the Federal Reserve structured the repayment of the debt it can never be paid off.

    Welcome to the “hidden” debt slavery scam.

    • Craig Escaped Detroit

      Everything you said is true. There is a SUPER wonderful Documentary by Mike Maloney (on Youtube- in 5 parts) called: “The Hidden Secrets of Money”.

      He covers ALL the details, history, money-vs-currency, debts, inflation, etc.

      For anybody who has NOT seen it, (and I know how MOST of here at SGT are INTELLIGENT people), I promise that you will ENJOY it very much, and when you have finished watching all the parts, you will WISH there was MORE to see!!!

      This GREAT little Cartoon-animation about FRN’s, debt, Rothschilds, Thomas Jefferson, and modern times is something that everybody MUST watch. Plenty of humor & all truth.

      The Collapse of the American Dream. (30 minutes) I’ve watched it about a dozen times and it never gets old.

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