4 ms·
The actors who the government has the most legitimate interest in surveilling (drug cartels, racketeers, corrupt officials, etc.) are the best-equipped to switc
by qq66 11y ago
The actors who the government has the most legitimate interest in surveilling (drug cartels, racketeers, corrupt officials, etc.) are the best-equipped to switch from paper currency to alternate currencies (precious metals, gems, etc).
- wheaties 11y agoAnother angle would be how this could play out with civil forfeiture. Remember, this was originally only used on those people who were suspected of drugs, organized crime, etc but quickly spread to the general population. - Could they flag certain transactions? - There's also IRS requirements for banks to report many small transactions which are used to skirt the $10k reporting requirements. How would this work for small businesses that legitimately need to do this?
- flatline 11y agoThey are also the best equipped to launder money through the banking system regardless of its origin: that is what they already do!