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Exactly this. Currency transaction reports are mandatory for any individual transactions > $10,000. This limit $10K was established in 1970 (Bank Secrecy Act).
by raincom 3y ago
Exactly this. Currency transaction reports are mandatory for any individual transactions > $10,000. This limit $10K was established in 1970 (Bank Secrecy Act). After 50 years, $10,000 of 1970 should have been at least $50K of 2023. Politicians and their crony bureaucrats never want to index these limits with inflation.
- renegade-otter 3y agoCorrection: the index what they need for the right people.
- paxys 3y agoHere's another one – the USD $100 note was introduced in 1914. If currency denominations were to keep up with inflation, the Fed would be printing $3000 bills today.