CASH AND CARRY - It is Now Against the Law to "Almost" Break the Law

By Lowell Ponte

How much cash can you now withdraw from your bank and carry in America without risk of being arrested, or of having your assets seized, merely for possessing money in this liquid form? The ominous answer is that carrying even one dollar in cash might give the government a pretext for such actions. Once upon a time, this question usually mattered only at the border. People were required to declare if they were carrying more than $10,000 in cash or negotiable instruments when entering or leaving the United States.  Failure to make a truthful declaration to U.S. Customs can result in the forfeiture of the money a person is carrying. Today, because of anti-racketeering RICO statutes and the 2001 Patriot Act, your bank is required to notify the federal government if you deposit or withdraw $10,000 or more in cash. In effect, your bank is required to spy on your financial life in this way for the government. [more...]