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Wednesday, November 21, 2012
Federal government now ruthlessly stealing thousands of dollars from small farmers' bank accounts via 'Bank Secrecy Act' Learn more: http://www.naturalnews.com/036716_small_farmers_bank_secrecy_theft.html#ixzz2CsPI18Vq
If you run a family farm or other small business in which you regularly
make large cash deposits at the bank, you could be in violation of a
little-known federal law called the Bank Secrecy Act. Making regular cash deposits of any amount, in fact, could land you in the crosshairs of government tyrants who, according to CBN News,
have already seized tens of thousands of dollars from family farmers
whose only "crime" was depositing their hard-earned cash in their bank
When it was first passed by the U.S. Congress back in 1970, the Bank Secrecy Act
was intended to combat money laundering and other criminal activity by
identifying so-called suspicious depositing activity. This law requires
financial institutions to keep rigorous documentation of all individual
cash deposits exceeding $10,000, which is considered to be suspicious,
and submit this information to federal authorities. (http://www.fincen.gov/statutes_regs/bsa/)
criminals; however, allegedly began trying to evade this law by
spreading out their individual cash deposits to numerous bank accounts
in order to keep them below $10,000, which prompted the federal
government to amend the law to prohibit individuals from so-called
"structuring" their deposits. Anyone who deposits even
moderately-sizable sums of cash, in other words, becomes a potential
target under this unreasonably vague and all-inclusive law.
Federal government actively stealing thousands of dollars from American farmers
This is where the Sowers and Taylor families, both of Maryland, come into the picture. According to CBN News, both families operate small farms in Maryland, and both regularly make cash
deposits at the bank. Both families were also recently targeted by the
Feds for simply following the advice of bank tellers who advised them to
avoid laborious paperwork by spreading out their individual cash
deposits in order to keep them below the $10,000 threshold.
the Sowers' case, business at their independent dairy farm, South
Mountain Creamery, has been doing so well in recent years that cash flow
began to creep up into the "suspicious" territory. Randy Sowers, owner
of South Mountain Creamery, decided to take the advice of his local bank
and spread out his deposits in order to keep them below $10,000. As far
as Sowers was concerned, there was nothing illegal or wrong about
cooperating with his bank's counsel.
But in February of this year, federal officials targeted Sowers and his farm, and in the process seized roughly $70,000 in financial assets.
In the end, Sowers decided to simply settle the case with the
government rather than contest it, and like a pack of ruthless pirates,
the government agents that targeted Sowers decided to keep $30,000 of
his money for absolutely no reason.
An almost identical situation
occurred on the other side of Maryland to the Taylor family, which had
$90,000 of its hard-earned cash seized by government officials. Like the
Sowers, the Taylors spread out their deposits in accordance with their
bank's advice, and became a target for potential criminal activity. Even
though the Taylors committed no crime, federal thieves ended up keeping
about $45,000 of the Taylor's earnings that had been seized.
found out since that there's a lot of other people this has happened
to, but they all just kind of crawled into a hole and didn't say
anything," Sowers is quoted as saying to CBN News about this massive government theft racket. "And then the government can go ahead and get away with it because nobody says anything."
ordinary Americans, including farmers, do not have the financial
resources to fight government tyranny, so they simply accept it
says he tried to fight back against the ridiculous charges levied
against him, as his cash deposits were clearly not in violation of a law
that is intended to target actual criminals like money launderers and
drug dealers. But because of the enormous expense involved in fighting
back, Sowers decided to simply settle rather than seek justice. And many
others like him, including the Taylors, have reportedly taken a similar
route as litigious dealings can be unbearably costly and
As far as the Bank Secrecy Act is
concerned, the federal government is now openly abusing this law to
tyrannize honest, hard-working Americans. In mob fashion, these federal
kingpins are taking advantage of every possible opportunity to shake
down farmers, small business owners, and others who make cash deposits,
accusing them of violating a skewed law that technically every person
could be conceived as violating on a regular basis.
"It's so broad now that they can criminalize anyone," said Liz Reitzig, co-founder of the Farm Food Freedom Coalition (FFFC) and visionary behind the Raw Milk Freedom Riders campaign (http://www.naturalnews.com/033904_raw_milk_Freedom_Riders.html), to CBN News about the Bank Secrecy Act.
"(These farmers) are providing economic prosperity to their rural
communities. They're creating jobs. They are producing something for the
American economy. And they're the ones who are targeted."