Now there's a new war. It's the war on cash and both of the previously mentioned wars are cited in the reasoning . . . I use the term "reasoning" quite loosely. It would seem The Powers That Be hold to the firm belief that drug dealers and jihadists keep their money in banks. I have no idea why anyone in either of those lines of work would risk a paper trail for the current interest rates, but that's their story and they are sticking to it. The war on cash is actually, of course, aimed at the average citizens and independent businessmen. The war on cash is the slow desensitization toward the mark of the beast for buying and selling, not to mention tracking us. Since most people have automatic deposit for their paychecks, pensions, and SS, the only reason to further monitor bank accounts would be for those who legitimately operate in cash, buying and selling without credit and payments.
This one hits rather close to home. I have never used a debit card. I average writing two checks a month and for the rest, I operate in cash. It's not a large amount of cash, just for the feed store and a few incidentals. I'm certainly not going to hit the designated amount mentioned in the article, on a regular basis but paying cash for larger items could easily hit the $5,000.00 marker. Most folks selling a used vehicle want cash. They don't take payments and nobody wants a check.
I think of the truck I just purchased. I purchased it from a dealer, so there is a paper trail, but I counted the cash out on the desk. That kind of cash isn't laying around my house, so obviously, the cash withdrawal at the bank would have been flagged. This new oversight truly seems just too Big Brothery to even try to sell to the American people. There is no reason to track the average business person's bank account, and for people like me with little money and few transactions, it's one more invasive policy clearly outside of the stated purpose.
