Travelers with $10K+ Must Register or Face Imprisonment, Loss of All Assets

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The Senate plans to pass another freedom-robbing bill in the name of combating money laundering. Senate Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” requires travelers with $10,000 or more in cash or assets to register. If you fail to obey, you forfeit all your assets and face ten years in jail.

The bill will track money and assets ad infinitum as well as any business with government ties. It will act in lieu of the DHS to steal all your assets, even Bitcoin and other such currencies, if you don’t report funds while traveling with more than $10,000.

We will undoubtedly need a new department and lots of new government workers to handle all this spying on travelers. The end result will be the unconstitutional civil asset forfeiture.

Civil asset forfeiture gives the government the right to steal.

This bill falls under the absurd umbrella of fighting terrorism and transnational crime.

Civil forfeiture

Under civil forfeiture, the government can rob you of all your your cash and assets without due process. You can fight them after fact if you have the money for the legal expenses. The government of course has unlimited taxpayer funds.

 

It was originally used in drug deals but it’s gone far beyond that. It has created a financially lucrative relationship between the feds and local governments. An AEI report shows that the federal government seizes more from the people than burglars do thanks to civil forfeiture laws. It’s abuse and what we would expect from totalitarian regimes.

People are spending thousands, sometimes hundreds of thousands to get their property back when they did nothing wrong. They were deprived of due process until after the assets were stolen.

It’s basically being extended to travelers.

 

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8 COMMENTS

    • I had to travel with $30k recently to move the funds between banks without encountering a lengthy hold. You sound like someone who simply hasn’t handled much money.

  1. cash or assets so if the gov. wanted a woman with a $10,001 wedding ring or a man with a $10,001 Rolex watch or maybe you’re in your new $34,000 pickup truck. What country was it seized bank accounts to help pay its bills ?

      • …and who are you to tell me what I can and cannot spend my money on? If I want to spend $10,001.00 on a Rolex watch, it is none of your business.

  2. “There is NO reason to travel with $10,000 cash in the 21st century???”

    Only a complete idiot would make such a remark. Do you know how many businesses deal in cash and have that much money on their person.

    I was fed up with Bank of America and decided to close out the account. Because there was such a hassle just to get my money I considered making the withdrawal in cash. When I mentioned this to the credit union they implored me NOT to do it because of the reporting requirement by the Federal Government.

    These laws are the epitome of a Fascist Government. Anyone who believes the Government “should” be allowed to take any persons property without even a criminal complaint is allowing the beginnings of Fascism to take hold.

    There have been many cases whereby the State has taken real estate because of civil forfeiture and the owners had to spend a fortune only to finally have it returned. There are many many cases similar in scope.

    When this started it mainly affected those who were found with drugs and a criminal complaint filed. It’s purpose was to not allow the suspect any benefit from illegal acts. But it has morphed far beyond that.

    In case after case it has been found departments have used this law as part of their budget. Therefore the incentive is to seize these assets from more and more innocent people.

    When this was sanctioned by the Supreme Court it was one of the most “Unconstitutional” decisions made. It renders the Bill of Rights moot.

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