Another greenspun thread indicates Matt Drudge has a story reporting that IRS-CID Special Agents attempting to stem y2k bank runs in Utah and Montana by threating peope with "structuring" violations for with drawing their money from the bank.

I cannot find this on the drudgereport.com web site.

Could someone please provide a url of the page where this story is reported or a direct link?

-- concerned (noaddress@dontemail.com), June 29, 1999

Answers

Wellllll...that's exactly why I took a letter of explaination and request of the proper reports being filed with the IRS, to the bank with me, to be held on record. I also requested a notorized signiture by the bank manager on MY copy. The resulting reaction was most interesting and I was asked to sit down for a brief chat in the back office while they gathered the amount of cash I had 'ordered' the previous week! Ignorance of the law is no excuse friends! The banker attempted to console me with pathetically lacking reassurances, such as, "We have recently upgraded all of our phone equipment." What about your phone *company*? Blank stare. "We intend to be compliant by summer." I intend to be financialy able to function in the event your *intentions* don't materialize as *planned*. "But we are currently in the process of forming contengency plans." YUPPPP. Same here....need a pen? The cash was given to us in another back room that was about the size of a walk-in closet, and we left as every bank employee watched us go out the door.

-- Will continue (farming@home.com), June 29, 1999.

And then we moved out of town! Hohoooooohahaaaaahumm

-- Will continue (farming@home.com), June 29, 1999.

Every criminal gets desperate when about to be caught. We have a criminal (fraudulent) money/credit/banking system in the U.S. (and worldwide). There is only enough CASH to cover about 1% to 2% of the "demand" deposits (checking and ordinary savings).

The banksters are about to be discovered for the frauds/criminals they are, due to Y2K. If only 1% or 2% of the people withdraw all their money, or if everyone wants just 2% of their money, in cash, the system will crash. If you are number 3 in a line of 100, you will be S.O.L. The IRS is their "muscle" to try and intimidate you into not acting in your own interests. It's not gonna work. "The emperor has no clothes."

-- A (A@AisA.com), June 29, 1999.

Will-

Could you please explain (if you have the time) what happened? I am confused as to what happened.

Is there a Drudge Report news item on this? URL? Link?

Thanks, concerned

-- concerned (noaddress@dontemail.com), June 29, 1999.

concerned: What happened? Unclear to me. The pencil-necked banker signed my letter of explaination for my actions and request for the bank to file required IRS documents. My withdrawl exceeded the $10,000 'limit' and I wanted to cover mt butt in avoiding future charges of 'structuring', meaning, the IRS will prosecute in the event they believe citizens are attempting to 'sneak' large sums of cash out of accounts without the proper notification. As in: illegal activity, laundering, drug related, avoiding taxation, etc. Please note that I believe the IRS to be 'toast' anyway....will never find the form with my name on it, hell, they can't even locate the last copy machine they purchased, but, ignorence of the law is NO excuse, just do things 'above board' and move on (not literally, as in our case, HA). Do we realize that we were 'sucking up' a large percentage of the other folks "puney alotted amount of cash available per household that exists in the current system"? Yes, absolutely, and we struggled with this thought for approx. 48 hours. Are we the ONLY ones who have done this? Don't kidd yourself. The bottom line as we saw it, was "ya snooze, ya loose". Not our faults if Joe six-pack is asleep and snoring. Honesty is brutal. So will be Y2K.

-- Will continue (farming@home.com), June 29, 1999.

Look, I can see as well as anyone here that there are potential problems with the fractional reserve system........HOWEVER

Although I have asked many many times in the past, no one has been able to suggest a better system that we can use that we can reasonably transfer to and use without causing more trouble than we already have.

Criticizing is very easy.........suggesting a workable alternative would actually be useful though.......BTW, the alternative must be able to afford us the standard of living we currently have.....going back to the 1900's is NOT a positive step.

So fire away, what system should we have, why would it be better and how do we get there from here.

-- Craig (craig@ccinet.ab.ca), June 29, 1999.

Concerned,

I'm a quiet lurker here from way back, but willing to break my silence in an attempt to untangle a thread here: In in original thread to which you refer, Steve Heller wrote about the Washington DC story. Brother Rat responded, but added in his post something about the IRS. JustMe asked where the link for that IRS information was. RC's post was next. His post said that the Drudge site was all abuzz about "that story," but by "that story" he was referring TO STEVE HELLER'S initial post, *not* the IRS story. The confusion stems from the fact that RC's post was directly after the JustMe question. My guess is that RC posted at the same time as JustMe, and simply didn't see the preceeding question.

At least that's my take on it.

Brother Rat didn't provide any information about where a link could be found. I'm interested too.

IPQ

-- IPQ (IdProQuo@aol.com), June 29, 1999.

Craig: How about, as an alternative, honest banking. e.g., something on the order of what e-gold has set up
http://www.e-gold.com

All: BTW, on e-gold "Account balance" page (you don't have to have an account to get to the top page in that section), you can see if you have 128-bit or just 40-bit SSL on your browser.

-- A (A@AisA.com), June 29, 1999.

IPQ:

You hit the nail on the head I suspect. Yes, I did post in that thread and before I could get it completed and posted someone else did post since I'd gone into composition, therefore I did not foresee a problem in continuity. I have no clue about an IRS-CID story from Drudge. I figured I missed it somewhere. Now, I suspect that things simply got tangled. Thanks for your post...and feel free to post more often the water is warm.

-- R.C. (racambab@mailcity.com), June 29, 1999.

'the IRS will prosecute in the event they believe citizens are attempting to 'sneak' large sums of cash out of accounts without the proper notification.'

I know about the reporting laws (which require the banks to submit a report) and about structuring (i.e., pulling out small sums -- isn't that what most people do on a weekly basis with their ATM?), and I am a law-abiding citizen who actually feels some of our civil servants are doing a good job...but geez! haven't we swallowed the whale when the statement above is even part of our conversation. 'Sneaking' OUR money out of OUR accounts. It don't get no worse than this, huh? Or does it?

The alternatives? Something along the lines of a few Sci-Fi shows: the credits system (no physical). Ah, but that would assume the computers were reliable.

-- Shelia (Shelia@active-stream.com), June 29, 1999.

Will continue: be very careful not to get caught on the road with that much cash. Existing Federal laws allow any county sheriff to presume that any unusual amount of cash was illicitly obtained, and to seize not only the cash, but the automobile you were driving and the house you live in. The burden of proof will be on you to prove the contrary. Proceeds of such seizures go to the county. This has happened to many people.

-- Tom Carey (tomcarey@mindspring.com), June 29, 1999.

Tom, what is considered an 'unusual' amount of cash. My husband and I always take cash on vacations....

-- Shelia (Shelia@active-stream.com), June 29, 1999.

"Unusual" is what the pig says it is. That's an indication, if you haven't noticed, that we're living under fascist rule.

-- A (A@AisA.com), June 29, 1999.

And it's too bad that more people haven't looked up the pigs off duty after they STOLE from them...

If more pigs discovered how people really feel about being STOLEN from, it might loose some of it's glamor.

-- Bill (billclo@msgbox.com), June 29, 1999.

A: I simply love your way with words! Thanks for the advice...everything IS documented complete with sources of cash obtained, taxes paid and nothing to create any misunderstanding about. Allow me to say to those new to this problem....this aspect of planning and preparing for Y2K, was BY FAR the most stressful to me. What an ugly delema, that we should be terrified into being so cautious to adhere to all laws, cover all bases and suffer guilt, all because we simply wanted to 'collect' what we have both worked our whole lives to have available to us in an emergency. The children's college money, my hubby's retirement, my years and years of 'tip money'. We walked out of OUR bank, with OUR money feeling like Bonnie and Clyde. Driving home carefully, to place it safely away. When I hear Bill Clinton refer to ME and my HUSBAND as, "Cowering in churches waiting for the World to end, determined to buy desert land and hoard gold, bullets and skoal in their pickup trucks", I HONESTLY don't know whether to cry silently or pray that somebody will *PLEASE* put this miserable man out of his pathetic misery. This is OUR country BILL. WE pay our taxes and WE abide by ALL the laws, you slimy piece of slithering dog dung! KISS MY GREAT BIG ROSY RED ASS

-- Will continue (farming@home.com), June 29, 1999.

Will Continue: Not too bad with words, yourself.

-- A (A@AisA.com), June 30, 1999.