Fiscal Cliff – There Ought To Be A Law Against This
While it is likely that the US politicians will vote now before the new Congress comes in because that was the deal (lame-duck), there is a serious consequence to this sort of crisis management that Congress has preferred waiting to the last minute for everything. When I wrote that the threshold for reporting money transfers was now $3,000, some people said I was wrong. The card when you return to the USA still states $10,000. The problem is that is “physical” movement of cash or securities on your person. Sending money by wire or check that number is $3,000. Was there a separate bill? No! It was hidden in the Patriot Act.
In this budget there are thousands of items nobody has read. They will vote on this bill because it is set up as an intentional crisis. Months ago I wrote that everything was pushed into this time period after the elections and BEFORE the new Congress came in. This was ABSOLUTELY INTENTIONAL!!!!