The Failure of Anti-Money Laundering Laws

[survivalrod]

Maybe those laws were never intended to catch criminals? Maybe they were created as one step towards creating a cashless society, controlled by banks and government?

[paulydinkins]

I agree

[Chapulinazuladomx]

anti money laundering laws are antisemitic

[TheJasonDR]

@Chapulinazuladomx what do you mean ???

[Chapulinazuladomx]

@TheJasonDR anti money laundering laws are antisemitic.

[seismedia]

While I might agree with the arguments (pro-liberty, ridiculous cost of tracking and reporting), eliminating the laws and penalties and outright skipping over suspicious transactions is not the answer. Monitoring the "noise" of financial transactions should simply be made more efficient, something we CAN DO with our modern IT infrastructure. Keep the data anonymous without special reporting until something looks suspicious. THEN run the reports, investigate, worst case, PICK UP THE PHONE!

[joekiddone]

Is it ill-gotten booty or ill-booten gotty???

[joekiddone]

"Take your stinking paws off our money, you dirty rotten Statists!"

[DrakeDorosh]

It does seem a little weird that transactions over a certain point need additional paper work. This video doesn't explain why. Using the argument that it harms the little guy and costs the banks money doesn't point to any solution. My question would be If the requirement to report specific transactions can be made why not just let laundering investigators have at the full record? Was the information ever private?

[levi501lee]

This formula never gets old to you clowns. Point out a handful of outliers, claim it's a full blown epidemic, scream about all this horrible damage, and then have the audacity to demand radical change and ingenious new techniques and yet you provide NEITHER OF THESE THINGS!

Congratulations, you examined something, here's a medal. Now how about you actually write down one of YOUR radical changes or ingenious techniques and those of us with actual integrity will do the examining.

[gwydno]

Using the same arguents we could conclude that there is no point in keeping expensive and inneficient police institutions. After all, we know that there is a lot of crime in the world in spite of billions being taken from tax payers.

Please, if you think this system is inefficient, please suggest a detailed alternative.

[mabdiuhrman]

this country has been going down hill sense the 1930's

[TheJasonDR]

@mabdiuhrman nope its been since the 1960s

[robertquentincobb]

Dan Mitchell for PRESIDENT! Please vote!

[thislife2010]

Defendants: SEC chairs and commissioners, past and present:

CHRISTOPHER COX, an individual;

MARY L. SCHAPIRO, an individual;

CYNTHIA A. GLASSMAN, an individual;

PAUL S. ATKINS, an individual;

ROEL C. CAMPOS, an individual;

ANNETTE L. NAZARETH, an individual;

TROY A. PAREDES, an individual;

LUIS A. AGUILAR, an individual;

ELISSE B. WALTER, an...

[thislife2010]

Attorneys for Plaintiffs ( representing cmkx shareholders): Hodges and associates:

A. CLIFTON HODGES, State Bar No. 046803

HODGES AND ASSOCIATES

4 East Holly Street, Suite 202

Pasadena, California 91103

Telephone: (626) 564-9797 Facsimile: (626) 564-9111

[thislife2010]

By Hodges #8 To fulfill the plan to criminally trap such wrongdoers, the Securities and Exchange Commission, with assistance from the Departments of Justice and Homeland Security Assisted in and approved the retention of Roger Glenn, an ex-SEC trial attorney and drafter of Sarbanes-Oxley, to join CMKM Diamonds Inc. for the purpose of verifying claims value, increasing authorized shares of stock to 800,000,000,000, and supervising from the inside of the company;

[indigo11274]

This man is working for the CATO institute, formed by the multibillionaire KOCH family. He doesn't want to help people, he wants to F the middle class and poor.

How stupid do they think we are? The KOCH family probably launders billions and doesn't want anyone to know. They want to keep their wealth hidden, secret, and without any taxes paid.

[dachickenman]

@indigo11274 How stupid do you think we are? Obviously solely by the virtue of belonging to an organization associated with a billionaire, we cannot believe anything that comes out of this person's mouth? Great reasoning.

[MineCreekProductions]

All this surveillance of average citizens and they missed Bernie Madoff and the other ponzie scheme operators, even though they were alerted to his scam many times. It was the policy to look the other way when the right people are involved.

[MineCreekProductions]

The term Patriot Act itself is Orwellian. It has little to do with patriots and everything to do with control.

[MineCreekProductions]

Most galling of all is the fact that the big banks and other financial institutions are the ones who launder the most money.

[911truthseekers]

If your Ever in Kansas or Missouri dont open a BANK ACCOUNT WITH BANK MIDWEST!!! THEY SHUT MY ACCT DOWN FOR EXPOSING THE BANKERS TIES TO 9/11 AND ISRAEL!

[rpur441044]

Its done this way so that the IRS Knows what is in your bank account and what you can be taxed on.Remember is not "your" money.Money is a federal reserve debt note,produced by them without a gold back up,so they can create bubbles,so as to put people in debt for lifetimes....form of control.

[a4finger]

good video

[btwall60]

Yea, I had a cold, I had to give CVS my drivers license to buy some cold pills

[whoo689]

Btw, what's the deal with the channel name? afq2007 doesn't really indicate that this is center for freedom and prosperity. If someone wanted to find out if there were videos from you guys, like Dan Mitchell's, it seems it'd be very difficult. Why didn't you guys name this channel "freedomandprosperity" or something?

[whoo689]

It seems like they see this as some kind of "war" against corporate crime and money laundering, so they can't 'afford' to make any mistakes.

[whoo689]

I mean, if you can't establish with evidence whether or not a corporate crime has happened, why prosecute?? Wouldn't it be more worthwhile to go after a REAL corporate criminal and take the time to make sure you've got all the facts on your side than waste time going after 5 suspects that probably have done nothing wrong?

Unfortunately, these corporate watchdogs or anti-laundering folks tend to be extremely paranoid and alarmist, kind of like the war hawks in the War on Terror.

[whoo689]

So rather than go the extra mile and enforce the law fairly, these corporate watchdogs just go the convenient route to save money and time. It's pretty despicable. They even have shit like criminal quotients or some kind of measure where they determine on a 1-10 scale how 'bad' your corporate crime is. And they figure out ways you can lower your score. Unfortunately, many of them include things like ratting out and selling out fellow employees rather than protecting them.

[whoo689]

Has anyone else here read the cato book "Trapped: When Acting Ethically Is Against the Law?" It's a very interesting introduction into how the feds (bureaucracies like the SEC) are EXTREMELY overzealous in prosecuting alleged corporate criminals, rather than treating them the same way prosecutors treat INDIVIDUAL criminals and suspects. The Cato author suspects the reason the feds act in such a manner for coporations is b/c it's much harder to establish guilt and evidence.

[50srefugee]

Oh, and another thing:

Why are Sikh prayers and the Full Metal Alchemist videos listed as being "related"?

[50srefugee]

Damn, and I was pissed off about having to present a photo ID and sign a log when I buy over the counter cold medicine -- in a futile attempt to keep crackheads from using it as a precursor to make crack.

I'm thinking about sending my Congress Critters my used snot rags in protest, but now will also condemn this far more serious intrusion.

[whoo689]

Well, it's actually meth they're fighting. I don't know of any crack dealer or producer who uses cough medicine.

[50srefugee]

@whoo689: Meth, not crack. Right, you're right, I know you're right.

And it's not cough medicine; it's stuff like sudafed, the decongestant.

Doesn't really make a difference, though: totally unwarranted intrusion, although a much milder one than what this video portrays.

Same mindset, though, and that has to be stamped out in all its forms.

[whoo689]

But the law IS pretty stupid. I really don't think it's done much to combat meth production anyhow. ALOT of shit goes into that, not just pseudoephedrine. And I think meth producers are crafty and creative enough to come up with OTHER ingredients to replace the cough medicine anyhow.

[Scoforever]

Terrorists were prevented from investing in the American housing market. Imagine if they had been allowed to do that. It would have been brilliant. Although the government could have ended up bailing out Al-Qaeda.

[robertcgage]

Two thumbs up and five stars, Dan.