"If you're here illegally, there's no place for you in our financial system," Treasury Secretary Scott Bessent said in a post on X last year in response to a FinCEN alert on cross-border funds transfers. On Thursday, he was reminded of these wordsbefore the Senate Banking Committee, as Congress asked for a status update on the Treasury's measures to fight illegal immigration.
Bessent stated that he has had regulators “double down on KYC, to make sure that everyone in the regulated banking system is legal,” adding that "we are encouraging banks to be more proactive," and that "we are considering a reunderwriting of the clients."
Some pretty astonishing quotes in those hearings last week all around (#1427640)
“I do believe in financial surveillance for remittances that should not be remitted," Bessent concluded, "and we should also know where the money is going.”
Also SARs selectively reduced to $200 in certain geographic areas. Crazy.
Found Mr. Bessent's take on the Fed and Fed independence quite amusing too. Both in the Senate and the House, he managed to get this soundbite out: a reminder at the highest level that the Fed has “magic money” and prints all it needs
“There is no appropriation for the Fed; the Fed has magic money, and prints all its own money.”“There is no appropriation for the Fed; the Fed has magic money, and prints all its own money.”
https://www.youtube.com/live/-uV24FgRCZw?si=yevuSRhmj4QNMWfX&t=4797
@denlillaapan
how does it feel to have your post be the site of two SN battlegrounds? culture war on immigration, and then a tug-of-war between zappers and downzappers
Nah i just covered the post costs of the next 200 submissions to ~econ lol
Let the zap feeest.... BEGIN!
You just outed as @denlillaapans sock puppet patsy.
Must get confusing remembering who you are logged in as sometimes.
lol
Hahahaha, man I wasn't even paying attention... Guess I just learned I'm a "sock puppet patsy"??
Not surprised by this. Not sure why Bitcoiners like this guy.
he says funny things, and he annoys the lefties. Owning the libs is a valuable trait
But look at this slippery slope first it’s the illegals next it’s all Americans
Patronage networks are what's already being used against Americans, this is partial remedy.
He's ending the fed by subordinating it to the treasury, and pro-Bitcoin.
Bitcoin is also a defense against these patronage networks, because the chain is transparent, unlike the opaque legacy system. By increasing surveillance on the legacy system, you push the cabal into Bitcoin that is a pillar of the re-collateralizing of the system thereby ending the fed.
I think that this is a very interesting angle. If this is indeed the strategy, I think that it's extremely risky, simply because the clock is ticking. There are deadlines on getting it done.
These operations are executed with military precision to the extent possible in a fog of war, and the speed being analogous to steering a cruise liner.
Best to think of it as trapping a dangerous animal, you can't just charge full Leroy Jenkins.
Cutting off funding to these networks has considerations for optics and other asymmetries like an uncontrolled collapse of the financial system itself. It's a borderline miracle that they cut 200k government jobs and implemented tariffs without creating a deflationary doom loop.
Reverting the world's apex economy from a globalist-imperial system back to the Hamiltonian American System is like moving a bridge during rush hour traffic.
The vibe from my nostr feed is that Trump is in the zionists' back pocket.
Yours is a very different take.
Thanks.
Israel is a construct of London, it's a British colony. Look into the history of Protestant Zionists... Zionism is a tool of the globalists (old European banking money / British Imperialist) ... it has no real power of its own.
People focused on Zionism are very low IQ and either taking bait or just looking for a rationale for their TDS because they're still enured to mainstream media.
Lots of the same citadel maxi's that are for simultaneously open borders, dumbest of the dumb.
his daughter converted to Judaism to marry Kushner
What exactly are Patronage Networks?
Cartels install or control people in government that appropriate money to NGO's, contractors, social causes etc that are front organizations.
Those fronts cycle back considerable amount of that money to keep their controlled people in government in power, PAC's, other NGO's that do astrotruf activism, industries like the media.
In effect, votes and power are bought by the incumbent with public money to perpetuate their incumbency. This is how the deep state persists to such extremes, the parasite controls the host.
This isn't new, it's as old as the country itself in various forms and one of the cases and often cited by monarchists. We're just at the end state a century and a half after the Pendleton Act made the administrative state permanant, all thats happening today is a forcing of the host to fight or die (NatSec level issue).
Would this apply to swamp creatures like Lindsay Graham and Mitch McConnell?
Or the AOCs and Omar’s of the left?
Of course, uniparty stalwarts like them stayed seated for decades not simply because voters are retarded, but because the system is rigged and the rigging is made possible through mass corruption at every level.
Pro-Bitcoin... so that's what the Trump and Melania coins were about...
/s
you obviously voted for Biden and Kamala, NPC hiding behind anon
Subject is Bessent, try to keep up.
That said, wars cost money. Jelly your shitcoin project won't do as well "anon"?
Trump and his entire family including children were debanked by Chase and Bank of America
your doomsday chronology is backwards
because they've sold out to lick the boot
it's about immigration
if you support deportations then you like this guy
if you support illegal immigration, you hate this guy
They are doing a good job of turning me into someone who was sympathetic to tighter immigration controls to someone who's not
I agree with you.
Even for people who think "illegal aliens don't need bank accounts" how do they not see that these are the tools that will be turned on citizens next?
Illegal aliens don't need bank accounts
they prefer cash and EBT anyway
if cash is not an option, they like Zelle because no 1099 form
https://xcancel.com/brucefenton/status/1683835825988177923