by Dan Mitchell | Nov 17, 2019 | Blogs, Financial Privacy
One of the quirkier aspect of Washington policy making is the strategizing that occurs when proposed laws get names such as the “Social Security 2100 Act,” the “PATRIOT Act” or the “Affordable Care Act“. The obvious goal is to put pressure on other lawmakers, who...
by Dan Mitchell | Apr 30, 2019 | Big Government, Blogs, Financial Privacy, Regulations
I’m not a big fan of so-called anti-money laundering (AML) requirements. They are pointless. They are expensive. They are intrusive. They are discriminatory. They are ineffective. They disproportionately hurt poor people. And things are getting worse because these...
by Dan Mitchell | Mar 4, 2019 | Big Government, Blogs, Privacy
I’ve written repeatedly about how anti-money laundering (AML) laws are pointless, expensive, intrusive, discriminatory, and ineffective. And they especially hurt poor people according to the World Bank. That’s a miserable track record, even by government standards....
by Dan Mitchell | Jun 1, 2018 | Big Government, Blogs
On several occasions, I’ve shared horror stories of government brutality and asserted that all decent people should be libertarians. If you still are not convinced, today we’re going to look at seven stories about so-called civil asset forfeiture, which is a sanitized...
by Dan Mitchell | Mar 20, 2018 | Blogs, Financial Privacy
Beginning in the 1980s, money-laundering laws were enacted in hopes of discouraging criminal activity by making it harder for crooks to use the banking system. Unfortunately, this approach has been an expensive failure. They don’t reduce crime or discourage bad...
