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Re: Gold’s near future

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  • Thu, Mar 19, 2009 - 08:56pm

    #105
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Gold’s near future

[quote=SamLinder]I thought the $10k was the starting point (e.g. anything at $10k or higher). What you seem to be saying (and the section I quoted) is that the number is fixed at $10k. Anything lower, you’re ok. Anything higher, you’re ok. That doesn’t make sense to me.[/quote]

The $10K is just one criteria used….there are several, and in some cases the amount could be much less. The reporting entity usually has some discretion to report amounts less than $10K only if they view the transaction as unusual or suspicious, but many report anyway just to CYA. You can see some of the criteria used on the form below.

http://www.fincen.gov/forms/files/fin109_sarmsb.pdf

I’ve taken out more than $10K in cash from my bank…they weren’t very happy about it either because I almost cleaned out the branch…and they also said they would have to file a report, which I assume they did.