Once again it is time for me to attest to the powers that be that I have read and understand the mandatory 2009 Anti-Money Laundering Training – 2nd Quarter. I have written in the past about the invasions of privacy concerning finance and The USA Patriot Act, anti-money laundering laws, and the nonsensical attestation process, (here, here and here) and in those articles, I pointed out what invasive and tyrannical government actions take place in the name of anti-money laundering investigations. It is now getting even worse.
It is important to note that the wrongful anti-money laundering (AML) legislation and enforcement of same is rampant, and therefore destructive of individual rights and free markets. Government and government agencies will use every means at their disposal, and some that are not spoken about, to harass, intimidate, prosecute or worse, anyone not in full compliance with the very corrupt AML laws. In my position as a registered principal and owner of an investment firm, the dynamics are a little different. I am ordered to spy on clients and report any "suspicious" behavior. This is not a voluntary agreement; I am told to do so or else. What stands out here is that all "private" financial transactions are captured, monitored and data-based, and this is done without any consent from the client. In addition, since lists designed to expose offenders worldwide are updated continuously, invasions by government into private financial records are constantly ongoing. This gives a whole new meaning to the term "watchdog" and voids completely the Fourth Amendment! This is what happens when the citizenry fears non-existent monsters from afar and allows government to expand power to "protect" us from harm and "defend" national security. The government spies, wiretaps, monitors and captures financial records, creates massive data-bases, and confiscates (steal) private property. Everyone is suspect and everyone is to watch their neighbor. We are all terrorists now!
Let me preface the balance of my remarks by saying that the most egregious money launderer of them all is the United States Federal Government and its minions in the Treasury and the Federal Reserve. This is why I consider this mandatory anti-money laundering training so ridiculous. If I were to expose the real criminals here, I would have to finger the very entity that is in charge of prosecuting these same crimes. How absurd! But isn’t that how it normally works when dealing with governments?
Actually, all those who either take this training seriously or do as they are told due to fear of prosecution, could be very dangerous to those who trust them the most; their clients. All in our business are put between a rock and a hard place concerning this subject, but dissent is a must if one strives to protect his client’s privacy. I hope there are more than I think there are who will continue to protect their clients from the real criminal: government. This is a better option than working as a conscripted spy for this tyrannical
beast.
This quarter, my anti-money laundering training is based on three so-called risks: "Country Risk, Product Risk and Client Risk." This may sound innocent enough, and many might even think that getting the "bad guys" who launder money a noble cause. Nothing could be further from the truth. You see, the government considers many voluntary and harmless transactions as money laundering; a crime punishable by fines, loss of property, and/or imprisonment. It considers any transaction between two willing participants illegal if one of the parties lives in the wrong country; this even if that person is a perfectly legitimate and a model citizen. Due to anti-money laundering laws, especially since 9/11, many private entities, private businesses, charities, embassies, investment institutions and entire countries are automatically scrutinized, spied upon, sanctioned or worse, and without any cause. Many are prohibited from doing business with any U.S. business or citizen. The government uses these very vague "laws" to target and imprison those it deems a threat to its unjustified power. Many are rotting in jail due to trumped up or fabricated charges. Most of these charges are akin to "obstruction of justice" or "conspiracy" charges; charges that are purposely very vague in nature but that allow the government to eliminate a "problem" or a competitor. The government is the grand counterfeiter and wants no competition. Government anti-money laundering law is simply a protectionist racket; nothing more.
Concerning "country risk," several powerful U.S. entities, including all the obvious culprits; the U. S. State Department, the Office of Foreign Assets Control (OFAC) – a part of the U.S. Department of the Treasury, the Department of Homeland Security, among others, are charged with watching everything we do. Every new account, all third-party transactions and all stock receipts are compared to master lists. Many trade sanction programs are in place; administered and enforced by OFAC. These sanctions are many and telling; Anti-Terrorism sanctions, Non-Proliferation sanctions, Special Designated Nationals List (those we serfs are not allowed to do business with) Diamond Mining and Narcotics sanctions, and of course Cuban sanctions. This organization acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under U.S. jurisdiction. In other words, the president has a direct power to steal any private property he sees fit; just as long as there is any mention of money laundering. Legalized theft rears its ugly head once again!
The "product Risk" section of this quarter’s training mentions the risk of everything from cash deposits to insurance products, but what stands out the most is the warning about risk-free or guaranteed investments. The main culprit: the "Ponzi" scheme. According to my training documents, "A ‘Ponzi’ scheme is a fraudulent investment where the "rob-Peter-to-pay-Paul" principal is put into play." Please hold your laughter because it gets better. Red flags to be aware of include:
- The guarantee of a return on investment touted as "risk-free"
- The promise of unrealistically high returns
- The investment is sold or pitched without a prospectus.
- The person/entity offering the investment is not registered with a legitimate broker/dealer.
- The person/entity offering the investment is hesitant to answer questions about where the returns come from or is unable or unwilling to provide credible answers about how the funds are to be invested. (I especially like this one)
Do Social Security, Medicare, Prescription Drugs, Citigroup, Goldman Sachs, Wells Fargo, AIG, Bear Sterns, Chrysler, General Motors, Fannie Mae and Freddie Mac, the Federal Reserve and all other "Ponzi" schemes and bailout "investments" instantly come to mind? This list and explanation of red flags is nothing more than a self-indictment of all that the government and Federal Reserve do every day. The government itself, and in every capacity, is nothing more than one giant "Ponzi" scheme.
To expose the sheer size of the net of government and its ever-present regulatory and enforcement arm, we only have to study the last component of my mandatory quarterly AML training: Client Risk. Besides the extra scrutiny and outright privacy invasions of all foreign clients, foreign entities, foreign correspondent accounts and foreign financial institutions, there are many other clients who present a high risk according to the government. These include:
- Personal Investment Companies
- Personal Holding Companies
- Charities, societies and social clubs
- Import/Export companies
- Casino/gambling establishments
- Telemarketers
- Unauthorized or unregulated banks
- Offshore banks
- Privately owned banks
- Embassies, missions and consulates
- Politically Exposed Person (PEP)
Is anyone on the planet left off this list of very suspicious money launderers and terrorists? The only one missing was: Cowboys who own guns, believe in secession, own investment firms and live on a defensible property in Montana, but after this article, that one will probably be included next quarter.
The United States federal government and all its parasitic accomplices (with one notable exception) are liars, thieves and plunderers, and are not to be trusted under any circumstances. I realize that this might be considered somewhat of a bold statement, but how can one argue with facts? The Federal Reserve under the direction of government creates money out of thin air, launders it at home and overseas, spends the ill-gotten gains unconstitutionally and charges all the costs plus interest to the American taxpayer and everyone else crazy enough to loan it money. This stolen money is then used to gain additional power, to pay off contributors, to destroy freedom, to start and prosecute immoral wars, to imprison those who have harmed no one and to prosecute all competition. The U. S. government lies about what it is doing, steals from all of us and murders mostly innocents all over the world in the name of the "War on Terror." These are the real money launderers and criminals who should be jailed. The rest of us should be left alone!
June 27, 2009
Gary D. Barnett [send him mail] is president of Barnett Financial Services, Inc., in Lewistown, Montana.
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