What if an investor with unlimited capital announced a program to acquire 450 $BTC daily at the market price for the next four years and hold the asset forever? What if they increased their purchases to 675 BTC daily in 2028, and to 787.5 BTC daily in 2032? #BitcoinHalving.
This is due to AML laws.
They require bankers to file a Suspicious Activity Report (SAR) for cash transactions over $10,000. BUT, any transactions that might be related to "criminal activity" must be flagged as well.
This allows them to arbitrarily ban any transaction without demonstrating you're not a criminal somehow.
Compliance violations are severe, so the default for the bank is to file a SAR for just about anything. Easier still is just to refuse the transaction, like here.
Keep in mind, the $10,000 cash threshold was established in 1970. In today's dollars, that would be equivalent to between $80,000 to $150,000.
Meaning, they are openly abusing a system that was only intended to catch Wall Street tax cheats. Every bogeyman from drugs to terrorism has been used to make that abuse easier.
All of this nonsense with KYC and SARs was born in 2001 with Title III of the USA PATRIOT Act. Voters overwhelmingly rejected the exact same AML rules in 1998.
Today, we just roll over and accept it as normal. It's not. It is one of the most egregious violations of your right to free association ever conceived.
It had an expiration provision built-in for 2005. Our useless reps failed to act on it. It could still be repealed at any time. It's just a law after all.
AML deputizes every single bank teller in America to be a state snoop. It assumes you are a criminal against every principle of American criminal law.
Want your freedom back? Well, AML is where you lost a big chunk of it.
A great first step to fixing this is by putting your money in self-custodied #Bitcoin instead of the bank or credit union.
Then help as many people as you can do the same.
After that, maybe jot a letter to your reps, for all the good it will do you.
⚠️☢️🇯🇵 - Japan claims that it will start dumping treated radioactive water from the Fukushima nuclear plant into the sea this Thursday (24). See how water will affect the global ocean according to some experts! #Japan#Fukushima#Nuclearwastewater