If you were to hand out a flyer on the nefarious bullshit that is The Bank Secrecy Act, what would you put on it? Intended audience is suits on Capitol Hill. Would be coming from concerned veterans that believe it puts Americans at risk in our digital age while stomping on our right to freedom and privacy.
#asknostr
that audience concerned put our If flyer age our believe privacy.
#asknostr bullshit Act, would on on suits Would the what freedom from Capitol while digital to that were right be Secrecy you is is Americans puts Intended Hill. it? hand to on stomping nefarious veterans in out and you on it at a coming The risk Bank
I would put my npub and a Monero donation address on it
If not my Monero address then someone's at least
It might be good to mention that in the early days of the United States we had no income taxes and neither did much of the world
Helps set the context for our ever decaying rights
Anti money laundering completely circumvents due process.
Instead of being presumed innocent until proven guilty, when you do any financial transaction there is an inherent presumption of guilt (that the funds are the proceeds of a crime), and it's up to you to prove your innocence.
AML assumes you have the "capacity of demonstrating the absence of criminality"
BSA (and the US' membership in the financial action task force) exemplifies this disastrous policy.
I don’t have stats at hand, but financial transactions constitute a huge portion of the total data each of us generates. And so to use banks and fintechs as extra-judicial enforcers defacto creates massive violations of our 4th and 1st amendment liberties.
Most people don’t know about the executive order that confiscated your gold by the government and cant be bothered to research, so i would put facts that impact you and want to make you research further or go down that rabbit 🕳️
It violates the 4th amendment, “right to be secure in their … effects “
Supreme Court has dropped the ball too much since FDR.
The Bank Secrecy Act (BSA) of 1970 arguably violates the U.S. Constitution on several grounds:
1 Fourth Amendment (Unreasonable Searches and Seizures): The BSA requires financial institutions to report transactions over $10,000 and maintain records subject to government inspection without a warrant. This blanket surveillance lacks individualized suspicion, violating the Fourth Amendment’s protection against unreasonable searches. In United States v. Miller (1976), the Supreme Court held that bank records are not protected under the Fourth Amendment due to the third-party doctrine, but critics argue this enables unchecked government access to private financial data, undermining privacy rights.
2 Fifth Amendment (Due Process and Self-Incrimination): The BSA’s reporting requirements, like Suspicious Activity Reports (SARs), compel banks to act as government agents, collecting and disclosing customer information without clear notice or consent. This may violate due process by bypassing judicial oversight. Additionally, forcing individuals to disclose financial details through Currency Transaction Reports (CTRs) could implicate self-incrimination, though courts have not fully upheld this view (see California Bankers Assn. v. Shultz, 1974).
3 Tenth Amendment (Federal Overreach): The BSA imposes federal mandates on private banks, arguably exceeding Congress’s enumerated powers and infringing on state authority over local financial institutions. The Act’s broad regulatory scope lacks a clear constitutional basis beyond the Commerce Clause, which critics argue is overstretched.
While courts have generally upheld the BSA, these constitutional tensions remain debated, particularly as surveillance expands with amendments like those in the Patriot Act.
Thanks for that!
It answers a lot on my questions.
Always wondered how that got past the 4th amendment
So the bill of rights is an illusion at the end of the day…
The Constitution was designed to protect Catholic leadership and Jesuit leadership.
Nothing more.
I care not about the “why” as the language itself has worked well, until recently.
The Catholics aren’t responsible for 10A not being enforced, so your point is moot to me.
An illusion until a majority of the justices apply it without fear or favor.
The Roe reversal was an example. It was not applied for 50 years, then applied correctly.
Now they need to undo all the FDR socialist shenanigans, BSA, patriot act, etc.
Don’t hold your breath.
If applied correctly, tho, especially 10A, the country is very strong. Send anything not in the constitution back to the states and let the states tax their people until they move out. It will autocorrect.
The budget is balanced overnight and the debt can be paid.
We’d all be arguing over entitlements at the state level, as designed.
even if we hand wave all the violations of the constitution, can we at least get the dollar amount to keep up with inflation!?!?
10000 bucks in 1970 is over 83k today.
at this rate, pretty soon, banks will have to report to the gov when i buy a cheeseburger
