It appears that Chris Dodd’s financial industry overhaul bill missed an important fascist piece of the puzzle, international electronic money transfers. Somehow the Office of Financial Research that will have a database to track every single financial transaction in the country wasn’t given the power to track international wire transfers. Chairman Zero is rectifying this error with a new bill requiring U.S. banks to report all such transfers according to the Washington Post.
The Obama administration wants to require U.S. banks to report all electronic money transfers into and out of the country, a dramatic expansion in efforts to counter terrorist financing and money laundering.
Officials say the information would help them spot the sort of transfers that helped finance the al-Qaeda hijackers who carried out the Sept. 11, 2001, attacks. They say the expanded financial data would allow anti-terrorist agencies to better understand normal money-flow patterns so they can spot abnormal activity.
Remember moos, you are guilty before proven innocent.
“By establishing a centralized database, this regulatory plan will greatly assist law enforcement in detecting and ferreting out transnational organized crime, multinational drug cartels, terrorist financing and international tax evasion,” said James H. Freis Jr., director of Treasury’s Financial Crimes Enforcement Network (FinCEN).
But critics have called it part of a disturbing trend by government security agencies in the wake of the 2001 attacks to seek more access to personal data without adequately demonstrating its utility. Financial institutions say that they already feel burdened by anti-terrorism rules requiring them to provide data, and that they object to new ones.
As for money laundering, what about this? Don’t be fooled, this bill is about the average American, and what we are capable of when our country starts to go blatantly globalist.