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Also worth thinking about inflation with this one. The $10,000 figure originated with the 1970 Bank Secrecy Act[1]. Back then, that was a lot of money. If it
by tenpies 1y ago
Also worth thinking about inflation with this one.
The $10,000 figure originated with the 1970 Bank Secrecy Act[1]. Back then, that was a lot of money.
If it had kept up with plain old vanilla government-reported inflation, the number would be closer to $83,000 today[2].
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[1] https://www.fincen.gov/resources/statutes-and-regulations/bank-secrecy-act https://www.fincen.gov/resources/statutes-and-regulations/ba...
[2] https://www.dollartimes.com/inflation/inflation.php?amount=10000&year=1970 https://www.dollartimes.com/inflation/inflation.php?amount=1...
- petermcneeley 1y agoBig Mac Index suggests more like 30x