Debate : 717


Off-Topic / Debate / 717	716 \| 718

Subject:	Re: Federal Reserve Board - "Know Your Customer" Rule
Newsgroups:	lugnet.off-topic.debate
Date:	Tue, 13 Apr 1999 13:31:20 GMT
Reply-To:	LPIEN@IWANTNOSPAM.CTP.COMnomorespam
Viewed:	315 times

Mike Stanley wrote: > > Jesse Long <LongJR97@hotmail.com> wrote: > > God help us if we put some controls in place to deter criminal activity... > > Let the police deal with the criminals. My bank and the government > can keep their noses out of my damned business. Spot on, Mike. Jesse, you might want to do some research on what this Know Your Customer rule actually required the banks to do, before you come out in favor of it. The constitution does guarantee us to be safe from unreasonable search and seizure and this flies in the face of it. Know Your Customer, coupled with civil forfeiture, allows some teller that doesn't like you to report to the feds and local authorities that you're doing "suspicious transactions", and then the local authorities can seize the funds in your account, at which point you, without any money to hire a lawyer, are faced with proving the innocence of your actions. How very Napoleonic... why bother with having to prove guilt in criminal court? PS the link was broken for me, but thanks for the research. If you surf the site I list in my sig you'll find more info (link is on the first page) at Ron Paul's website: http://www.house.gov/paul/privacy/ It gives info on all the pro-privacy legislation he's introduced, as well as more info on KyC at the FDIC site via links. -- Larry Pieniazek http://my.voyager.net/lar FDIC Know your Customer is wounded, thanks to you, but not dead... See http://www.defendyourprivacy.com for details For me: No voyager e-mail please. All snail-mail to Ada, please. - Posting Binaries to RTL causes flamage... Don't do it, please. - Stick to the facts when posting about others, please. - This is a family newsgroup, thanks.

Message has 1 Reply:

		Re: Federal Reserve Board - "Know Your Customer" Rule
(...) I think Jesse was refering to the fact the Ron Paul was (is?) a Libertarian. At least that's what it looked like to me. Jeff (26 years ago, 13-Apr-99, to lugnet.off-topic.debate)

Message is in Reply To:

		Re: Federal Reserve Board - "Know Your Customer" Rule
(...) Let the police deal with the criminals. My bank and the government can keep their noses out of my damned business. (26 years ago, 13-Apr-99, to lugnet.off-topic.debate)

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