Bill Bonner

Meanwhile, zombies are on the march. Literally.

We got a news item from Europe. “Thousands of protestors took to the streets in dozens of European cities,” it told us.

What’s their problem? They don’t like cutbacks in government spending.

And now Bloomberg tells us that the feds want to keep track of all money transfers into and out of the US:

Financial institutions have long been required to report all cash transactions, whether domestic or overseas, exceeding $10,000 as well as transactions that they deem to be suspicious. The proposed regulations would expand the requirements so that banks would have to report all cross-border transfers of any size, whether or not cash is involved. (For money-transfer businesses, the threshold would be $1,000 as opposed to that at banks, which would report all amounts.)

If you send $500 to your daughter in London, what business is it of the feds?

Why do you ask, do you have something to hide?

The feds say they are preventing terrorism and money laundering. What they are really doing is gaining power. It can’t be too much longer before you need permission to send money overseas. And then, the “rich” will be fitted with the equivalent of an electronic ankle bracelet…to monitor their financial movements and prevent them from getting away with anything.

But wait. Are we becoming paranoid? Are we having a bad dream? Are we “losing it”?

Maybe. But soon, finances could be a matter of US national security. And transferring money out of the country, unauthorized, could be a crime.

The zombies are counting on your money. They won’t give it up without a fight.

Regards,

Bill Bonner
for The Daily Reckoning

Bill Bonner

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America's most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind The Daily ReckoningDice Have No Memory: Big Bets & Bad Economics from Paris to the Pampas, the newest book from Bill Bonner, is the definitive compendium of Bill's daily reckonings from more than a decade: 1999-2010. 

  • City Dweller

    Beware! Zombies are not only water proof but also illness proof and virus defiance.

    Long Life Zombies !!!

  • Online Guide

    If the shield is 1 inch thick, so the arrow is 1.1 inch sharp. Proctective layers are meant to be broken. Security lock is designed for the challenge. Defences are built for destruction.
    Don’t worry, be happy. Haha!!!!!!!!!!!

  • http://www.investorsfriend.com The InvestorsFriend

    It’s intrusive laws like that that turn law-abiding citizens against the low.

    When I was a kid I felt sorry for the Russians who (I was told) had to ask government permission to do anything.

    Now the joke is on me. North American governments are hugely intrusive. There is nothing including a lemon-aide stand that the government will not try to licence, tax and regulate into submission.

    Soon we may find that, like in Europe, the people are revolting. (And I am not referring to people being ugly, just in an ugly mood).

  • Class Monitor

    Monitoring? Who are the biggest ‘fraudees’ on our planet?
    First, we need to breakdown the constituents of ‘fraud’. A close study/analysis on fraud – its source, formations, causes and consequences.
    More often than commonly known, fraud money are subtly injected into the economy for lightning speed development and what-nonsenses – contruction of skyscrapers, factories, infra-structure, political bailouts and so on. People seems to have accustomed to these practices. They don’t feel it. These cause and effect are silently assimilated into the society. That is to say, all transactions/activities arising directly or indirectly from fraud money are subsequently rectified. Rectifications of these natures? Alright?

    Again, for thousand of years, gurus, religions and all ‘sm suspensions’ be it socialism, communism, leninism, stalism, feudalism, maoism rejecting it outright and refusing recognition of such rectifications. Even capatalism discreetly shows disapproval though in connection somewhere.
    To permit these rectifications means denial of thousand years of wisdom. There
    is surely a valid reason why ‘frauds’ are despised for thousand of years and they only remain in operation under darkness.

  • Brian

    inch thick, so the arrow is 1.1 inch sharp. Proctective

  • Online

    Hi Brian,
    In view of 100.1% requirement of accuracy, I will be on 100.2% alert in all my future blah-blah.

    Have a nice day

  • PeterB

    These kind of controlls have existed in the past and could again. In the UK in the seventies I remember a fomous jockey being arrested for leaving the country to go on holiday with (as I recall) £50 undeclared in his pocket.

    Even allowing for inflation this wasn’t much money and this was considered a serious offence.

  • a devils advocate

    The Fed has to go. They will not go without a fight. A big one. Are you ready for it? Chuck Butler brought up the idea of a Continental Convention. A really good idea and we may be close to getting one. We could close the Fed down permanently. Enough manipulation of our money. Many of you say you don’t like taxes. Well the devaluing of the money is a huge tax. The word is get rid of the Fed.

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