Highway robbery in Nevada, cops use seizure laws to steal a veteran's life savings

[made in china]

2 years ago I sold several gas-powered toys in person, paid in cash, and I decided to take $10k in cash to the bank. The bank insisted that I explain how/why I was depositing so much cash. I was offended, they stated that they are obliged, by law, to record certain amounts.

About the same time, my coworker tried to buy a car, he had $50k in cash for the down payment (he was believing it would impress during negotiations) and the dealer wouldn't accept his cash (he ended up writing a check) because the dealership didn't want that much cash on premises.

It seems the "powers that be" would prefer we stick to EFT and move away from cash.

They did this in China, end result is that everyone's money is under constant scrutiny by the government, and they can even suspend your accounts for any reason to teach someone "a lesson"

 

[Flopsweat]

2 years ago I sold several gas-powered toys in person, paid in cash, and I decided to take $10k in cash to the bank. The bank insisted that I explain how/why I was depositing so much cash. I was offended, they stated that they are obliged, by law, to record certain amounts.

About the same time, my coworker tried to buy a car, he had $50k in cash for the down payment (he was believing it would impress during negotiations) and the dealer wouldn't accept his cash (he ended up writing a check) because the dealership didn't want that much cash on premises.

It seems the "powers that be" would prefer we stick to EFT and move away from cash.

They did this in China, end result is that everyone's money is under constant scrutiny by the government, and they can even suspend your accounts for any reason to teach someone "a lesson"

In each of those cases I'd have found another place to do business with. They can't all be like that. In the case of the bank it's none of their business. Even if I had to deposit half of it at a time, I'd have gone somewhere else. Car dealers can't afford to piss off customers over idiotic crap like that. I'd go right across the street, buy something close enough to what I want and drive it back to the first place to show it off. What the hell you can always sell it later if you really don't like it.

 

[The B]

any cash transaction over $9,999.99 requires an IRS form 8300. your freedom was already LONG gone, but just another nail in the coffin of liberty. when you cant even make a deposit or pay a contractor without informing the government you are absolutely living in a surveillance police state.

 

[The B]

In each of those cases I'd have found another place to do business with. They can't all be like that. In the case of the bank it's none of their business. Even if I had to deposit half of it at a time, I'd have gone somewhere else. Car dealers can't afford to piss off customers over idiotic crap like that. I'd go right across the street, buy something close enough to what I want and drive it back to the first place to show it off. What the hell you can always sell it later if you really don't like it.

see my reply above - NO entity will do those transactions without reporting. they arent risking the wrath of the IRS for some dude.

 

[made in china]

any cash transaction over $9,999.99 requires an IRS form 8300. your freedom was already LONG gone, but just another nail in the coffin of liberty. when you cant even make a deposit or pay a contractor without informing the government you are absolutely living in a surveillance police state.

That's why I didn't give them too difficult a time. It sounded plausible, and after research it turned out that is the way it is now.

I don't know when that requirement came about, but I do recall sometime in the past this wouldn't occur....

 

[ma96782]

Say it this way......

Recently, my ex-wife repaid a loan that she owed me. It was over $30k ($20k was the principal). She wrote a personal check. BoA took about two weeks time to credit my deposit to my personal account. But.....it's not like I was expecting to have access immediately. I figured..... 3 days and it would clear.

NOT.

No one asked me why? I had a check, in such an out-of-the-ordinary amount for me.

Aloha, Mark

 

[kmk1012]

I had a car dealer not want to sell me a new Silverado when I was going to write them a check for the total sum. I told them they could pound sand if they didn't want my business. They were more pissed about not getting kickbacks on any financing then about the cash transaction. Apparently I wasn't the first person there to pay in full for a brand new truck.

 

[The B]

I had a car dealer not want to sell me a new Silverado when I was going to write them a check for the total sum. I told them they could pound sand if they didn't want my business. They were more pissed about not getting kickbacks on any financing then about the cash transaction. Apparently I wasn't the first person there to pay in full for a brand new truck.

theyre going to make more on interest from financing than they will from the sale, so tend to forget theyre car salesmen and not loan salesmen.

 

[Alexx1401]

some people dont live their lives playing society's games. youre somehow still allowed to be a private citizen in this country, if just barely. questioning why someone chooses to is like questioning why you choose to own guns - its your right, and none of anyone elses goddamn business. end of discussion.

i

You have me confused with someone else. I have ZERO use for the law allowing what is going on here. If I had my way the laws would be gone. That does not make me feel for the guy who travels around with that kind of cash just waiting to become "victim". He was checking a bag with that money in it. Talk about playing Russian Roulette with fate. If the airline had lost that bag or it got stolen? He would just be out. Only saving grace here is with a LOT of people making a huge stink he may get his money back this time. He is still a complete fool who will end up losing it though acting like this. Now as for me? Its his money if he wants to flush it down the crapper means nothing to me. I will not feel any more sorry for him after he flushes it though. He made adult choices and get to live with adult consequences for those choices. Too many people now want to make excuses for every idiot who gets hurt doing really dumb stuff. Freedom means you are free to make REALLY poor choices. Too many do not want to live with the results of those poor choices.

 

[Alexx1401]

I had a car dealer not want to sell me a new Silverado when I was going to write them a check for the total sum. I told them they could pound sand if they didn't want my business. They were more pissed about not getting kickbacks on any financing then about the cash transaction. Apparently I wasn't the first person there to pay in full for a brand new truck.

This is not uncommon. For a long time now dealers have been playing the MANY places financing stuff against each other for a cut. When I bought my last new car the dealer had several places bidding against each other for the loan. So they do of course figure that "cut" into the price of the vehicle. I have seen some have the same reaction you did if they did not tell them up front they were just going to pay for the vehicle. The dealer and the sales person who sets it up both get a cut of the financing. So if they make a deal then find out the buyer is paying without financing they are of course seeing part of their cut going up in smoke. My last car they sold me at 4% for money the bank got for almost zero at that time from the Fed. So of course part of that profit was shared with the dealer who set up the thing.

 

[Flopsweat]

This is not uncommon. For a long time now dealers have been playing the MANY places financing stuff against each other for a cut. When I bought my last new car the dealer had several places bidding against each other for the loan. So they do of course figure that "cut" into the price of the vehicle. I have seen some have the same reaction you did if they did not tell them up front they were just going to pay for the vehicle. The dealer and the sales person who sets it up both get a cut of the financing. So if they make a deal then find out the buyer is paying without financing they are of course seeing part of their cut going up in smoke. My last car they sold me at 4% for money the bank got for almost zero at that time from the Fed. So of course part of that profit was shared with the dealer who set up the thing.

A credit union can usually match or beat that rate and give you much better customer service.

 

[Alexx1401]

A credit union can usually match or beat that rate and give you much better customer service.

That is what won. A CU I had never even heard of came in the lowest bidder. I had never heard of them until after we bought the car. After that I have noticed quite a few of their branches around us. To me I really did not care who won. I had just moved and my commute was not going to be from one side of the damn county clear to the other. Needed something with better MPG and my old ride had 250K on it so was ready to retire. We had financed a few cars with Wells Fargo and of course always paid off early. So I thought they would want us but the CU out bid them which was fine with me. I have never even set foot in the place. Pay them online.

 

[Flopsweat]

That is what won. A CU I had never even heard of came in the lowest bidder. I had never heard of them until after we bought the car. After that I have noticed quite a few of their branches around us. To me I really did not care who won. I had just moved and my commute was not going to be from one side of the damn county clear to the other. Needed something with better MPG and my old ride had 250K on it so was ready to retire. We had financed a few cars with Wells Fargo and of course always paid off early. So I thought they would want us but the CU out bid them which was fine with me. I have never even set foot in the place. Pay them online.

My experience with credit unions has been way better with banks. I've been through at least four banks and have been with the same credit union for close to twenty years now.

The last car that I financed, I went into the deal with a pre-approved loan for the max that I intended to spend. Once the deal was made at the dealership I told the lady in finance that I could beat the rate she was trying to offer me. She wasn't so sure. I told her I was sure because I already had the loan and provided her with paperwork to invoice the car to the CU. Or however that worked. I didn't have to bring them a check, just showed them a form and the CU took it from there. She tried to offer me a quarter of a point less on a loan from a bank I'd never heard of. Nope.


edit: sp

 

[TTSX]

I carry physical bitcoins and convert them to Chinese pesos at local 7 elevens

 

[Cavedweller]

I don't know when that requirement came about, but I do recall sometime in the past this wouldn't occur....

The Bank Secrecy Act was passed in 1970.

Like most acts of Congress in the last 75 years or so, the title of the act is the opposite of what it does.The Bank Secrecy Act means that there is no more bank secrecy.

The Privacy Act ended privacy.

The Paperwork Reduction Act requires the government to send out more notices.

The Food Security Act pays farmers to not grow food. And so on.

Bank Secrecy Act | Internal Revenue Service

Congress passed the Bank Secrecy Act in 1970 as the first laws to fight money laundering in the United States. The BSA requires businesses to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters.

www.irs.gov

 

[Cavedweller]

He was checking a bag with that money in it. Talk about playing Russian Roulette with fate. If the airline had lost that bag or it got stolen? He would just be out.

Checking a bag? Airline? Did I miss something?

 

[Alexx1401]

Checking a bag? Airline? Did I miss something?

It said he was flying with the cash in a bag and he knew of course if he tried to carry it on it would be red flagged. So he tried to check the bag with all that cash through in checked luggage. That is where the drug dog hit on the bag. Anyone who has flown knows airlines are famous for losing luggage and for having a problem with theft from employee's. That bag of cash was SUPER high risk. It was his money to do with as he wishes but damn. If it had gotten stolen or lost? I would have had a hard time feeling bad for him. Assuming he gets it back, if he keeps handling it like this good chance something will happen to it again.

 

[Cavedweller]

It said he was flying with the cash in a bag and he knew of course if he tried to carry it on it would be red flagged.

"On his drive from Texas to California, a Nevada Highway Patrol officer engineered a reason to pull him over, saying that he passed too closely to a tanker truck. The officer who pulled Stephen over complimented his driving but nevertheless prolonged the stop and asked a series of questions about Stephen's life and travels. Stephen told the officer that his life savings was in the trunk. Another group of officers arrived, and Stephen gave them permission to search his car."

So he tried to check the bag with all that cash through in checked luggage. That is where the drug dog hit on the bag.

"A Nevada Highway Patrol sergeant arrived and had Stephen's money placed in a nearby field where a drug dog found it and allegedly alerted."

 

[Alexx1401]

"On his drive from Texas to California, a Nevada Highway Patrol officer engineered a reason to pull him over, saying that he passed too closely to a tanker truck. The officer who pulled Stephen over complimented his driving but nevertheless prolonged the stop and asked a series of questions about Stephen's life and travels. Stephen told the officer that his life savings was in the trunk. Another group of officers arrived, and Stephen gave them permission to search his car."

"A Nevada Highway Patrol sergeant arrived and had Stephen's money placed in a nearby field where a drug dog found it and allegedly alerted."

Ok I got this one mixed up with another. There have been a few of these things since this stupid law got passed. In any case though while I think the law is insane I also think anyone traveling with that kind of cash is a fool waiting to lose his money.

 

[ma96782]

Just saying.
BUT.....
As easy as it is to pass a law.....it could be un-passed.

That is.....
IF some of you had a mind to vote "correctly".

Aloha, Mark

PS.....
YEAH, Yeah, yeah......
It's seldom nowadays, that Congress can even begin to imagine a single issue vote on key legislation. Unfortunately, stuff gets hidden within bigger bills (not having anything to do with what I want or the original bill).

Example : A spending bill with "immigration reform" hidden in it.

AOC, progressives demand Senate Dem leaders overrule parliamentarian and include amnesty in spending bill

Rep. Alexandria Ocasio-Cortez and some fellow progressive lawmakers joined a group of protesters outside the U.S. Capitol Tuesday to demand that Senate Democratic leaders ignore their chamber's parliamentarian and include a path to citizenship in the reconciliation spending bill.

www.foxnews.com