Scary Stuff- Why You Shouldn't Drive with Cash

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Scary Stuff- Why You Shouldn't Drive with Cash

Postby Recyclersteve » Fri Sep 06, 2019 2:16 am

Hey everyone:

Maybe this subject has been brought up on RC, but I don't remember ever reading about it- until I just discovered it by accident while trying to find something else on Youtube. In short, there is a video that has been out for three years now about what is called Civil Forfeiture. Simply put, a police officer can pull you over, give you some lame excuse about an illegal lane change or something like that, and, if they feel you have a lot of cash with you, they can immediately seize your cash right then and there. They say that they are concerned that you are a drug dealer or that you committed some crime and that's why they are seizing the cash. You then have to sue to get it back and only about 1/6 of the people do, because the legal process of getting it back is so expensive. Also, even if they end up having to give the money back, they only give back what they seized. You still end up paying the legal costs- which can be very substantial.

Here is the video link:

https://www.youtube.com/watch?v=Jr2oItXC1eM

In case the link doesn't work properly, the title is: "Don't Drive While in Possession of Cash!- Lento's Law Ep. 2.52- by Steve Lehto- 9/26/16- 17:58 long

He is saying that states share information and tips with other states. They even have a website where they brag about how much they seized and some jurisdictions use the money to balance their budgets. This makes me want to never drive a fancy car again.

Several things not specifically mentioned in the video, but which are of concern to me:

1) If they can seize cash, wouldn't they also be able to seize precious metals and other valuables?

2) If you buy or sell on Craigslist, you are usually dealing with a total stranger. How could you possibly know if the other party isn't working on a handshake deal to get a finder's fee from the cops for assets seized. Right after they consummate the transaction with you they can call the cop sitting around the corner and say "He's yours now!"

3) Several examples cited in the video all appeared to be from drivers on interstate highways. But what is to keep a police department from sitting near a bank or coin shop (or a big coin show at a convention center) to look for potential targets?

I don't think this lawyer is some ambulance chaser type- frankly he sounds to me like a guy who could be either an RC member or someone who visits the site anonymously.

This is really scary stuff. I ask one thing- watch the full video please before calling me an alarmist. It is 17:58 long, but well worth the time invested. Good luck and please stay safe out there- if that is possible anymore.

P.S. I am very open to hearing responsible opposing viewpoints.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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Re: Scary Stuff- Why You Shouldn't Drive with Cash

Postby 68Camaro » Fri Sep 06, 2019 5:12 am

Yes it's been discussed before. Horrible...

viewtopic.php?f=19&t=9521&hilit=Civil+forfeiture#p94737

The above was the first of a couple threads on it
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The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
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Re: Scary Stuff- Why You Shouldn't Drive with Cash

Postby Recyclersteve » Fri Sep 06, 2019 5:31 pm

Thanks Camaro for providing the link. It was published in 2011 and I became a member in 2013, so that’s why I didn’t see it. Still, this is a VERY serious matter.

I feel sorry for coin dealers and large scale coin shows (like the FUN and Long Beach shows). Cops must know that there is lots of money going in and out the door. Frankly, there are often cops providing security and taking notes about who has what as they go about their work. Some of them must be licking their chops! Keep in mind it doesn’t matter whether you are a buyer or seller. Either way, you have something valuable that they want (i.e., cash or that 100 oz. silver bar).

And what about those border stations where they say they are trying to keep a pest (like the Mediterranean Fruit Fly) contained to one area. Can that say they think you have unauthorized fruit/vegetables and use that as an excuse to search your car?

If I have a police officer living nearby whose standard of living suddenly skyrockets, I would be skeptical. If he says he made a killing in the stock market but can’t pass my quiz on how the market works, I’d be extra suspicious. If someone in Hollywood made a movie about this (not just corrupt cops, but the ins and outs of civil forfeiture), I’d love to see it.

May God bless that lawyer from Michigan who had the guts to make the Youtube video I referenced in my first post.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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Re: Scary Stuff- Why You Shouldn't Drive with Cash

Postby AGgressive Metal » Tue Oct 01, 2019 2:27 pm

check your state laws, many of them have taken efforts to reign in the practice

https://www.forbes.com/sites/institutef ... 6ffbb45494
And he that hath lyberte ought to kepe hit wel
For nothyng is better than lyberte
For lyberte shold not be wel sold for alle the gold and syluer of all the world
-Aesop's Fables, Caxton edition 1484

http://stores.ebay.com/commonwealthcurrency
http://www.ebay.com/usr/pdx_metal
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Re: Scary Stuff- Why You Shouldn't Drive with Cash

Postby Recyclersteve » Tue Oct 01, 2019 9:31 pm

It’s nice to see that New Mexico and Nebraska have banned civil forfeiture COMPLETELY. 2 down- 48 to go.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

Please note that ANY stocks I discuss, no matter how compelling, carry risk- sometimes substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) as well.
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