government

Federal government now ruthlessly stealing thousands of dollars from small farmers' bank accounts via 'Bank Secrecy Act'

Tuesday, August 07, 2012 by: Jonathan Benson, staff writer
Tags: small farmers, bank secrecy, theft

eTrust Pro Certified

Most Viewed Articles
Popular on Facebook
BACK INTO THE CLOSET: Why U.S. reporters are not allowed to write about rainbow events in nations where being gay is still condemned
Depopulation test run? 75% of children who received vaccines in Mexican town now dead or hospitalized
A family destroyed: Six-month-old dies after clinic injects baby with 13 vaccines at once without mother's informed consent
Biologist explains how marijuana causes tumor cells to commit suicide
INVESTIGATION: Three days before Dr. Bradstreet was found dead in a river, U.S. govt. agents raided his research facility to seize a breakthrough cancer treatment called GcMAF
Companies begin planting microchips under employees' skin
BAM! Chipotle goes 100% non-GMO; flatly rejecting the biotech industry and its toxic food ingredients
ECONOMIC SLAVERY FOR ALL: While we were distracted with the Confederate flag flap, Congress quietly forfeited our entire economic future via fast-track trade authority
NJ cops bust teenagers shoveling snow without a permit
Chemotherapy kills cancer patients faster than no treatment at all
McDonald's in global profit free fall as people everywhere increasingly reject chemically-altered toxic fast food
March Against Monsanto explodes globally... World citizens stage massive protests across 38 countries, 428 cities... mainstream media pretends it never happened
Italian court rules mercury and aluminum in vaccines cause autism: US media continues total blackout of medical truth
SCOTUS same-sex marriage decision may have just legalized the concealed carry of loaded firearms across all 50 states, nullifying gun laws everywhere
Orthorexia Nervosa - New mental disorder aimed at people who insist on eating a clean diet
Vicious attack on Dr. Oz actually waged by biotech mafia; plot to destroy Oz launched after episode on glyphosate toxicity went viral
Nearly every mass shooting in the last 20 years shares one surprising thing? and it's not guns
Holistic cancer treatment pioneer Dr. Nicholas Gonzalez dies suddenly; patients mourn the loss of a compassionate, innovative doctor who helped thousands heal from cancer
Delicious
(NaturalNews) 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 accounts.

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/)

Many 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.

In 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.

"We 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."

Most ordinary Americans, including farmers, do not have the financial resources to fight government tyranny, so they simply accept it

Sowers 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 time-consuming.

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."

Be sure to read the full CBN News report on the Sowers and the Taylors here: http://www.cbn.com

Sources:

http://www.fincen.gov/statutes_regs/bsa/

http://www.naturalnews.com/033904_raw_milk_Freedom_Riders.html

http://www.cbn.com

Follow real-time breaking news headlines on
Small farmers at FETCH.news
Join over four million monthly readers. Your privacy is protected. Unsubscribe at any time.
comments powered by Disqus
Take Action: Support NaturalNews.com by linking back to this article from your website

Permalink to this article:

Embed article link: (copy HTML code below):

Reprinting this article:
Non-commercial use OK, cite NaturalNews.com with clickable link.

Follow Natural News on Facebook, Twitter, Google Plus, and Pinterest

Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

GET SHOW DETAILS
+ a FREE GIFT

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.