RE: Cashless? FDIC to Monitor All Transactions??

["Hegge, Roy" <Roy_Hegge@adc.com>]

Greg,

As a computer professional I can attest that the idea that banks would use Y2K as an excuse to stop distributing cash is totally rediculous.  This is one of those turn of the century scare stories that we are going to see more and more of this year.  

The thumbprint thing could be true.  It's proven technology and easy to do.  Is it the right thing to do?  It all depends on what they do with the print. If they simply use it  to catch a prepretrator in case the check or signature turns out to be fraudulent, maybe that's ok.  But it will most likely wind up populating a law enforcement database.   In my case, as an ex-GI and one who has partied a bit too much on occasion as a teenager and spent the night in jail, it doesn't really matter because my prints are on file anyway.  For someone who has never had 
reason to be fingerprinted, perhaps they would not want to frequent that bank so that they can maintain that sense of secrecy.  But to be frank, I have not worried much over the years because my fingerprints are on file.

Roy
> -----Original Message-----
> From:	Greg Peisert [SMTP:gpeisert@jamesgregory.com]
> Sent:	Thursday, January 14, 1999 7:52 AM
> To:	Multiple recipients of list NOPRIVACY
> Subject:	FW: Cashless? FDIC to Monitor All Transactions??
> 
> Have any of you folks heard anything about the scenarios described below? Just BS, or is there something real here? -- Greg
> 
> -----Original Message-----
> From:	jemdet@newnorth.net [SMTP:jemdet@newnorth.net]
> 
> > By Ken Raggio
> > 1/3/99
> >
> > Major bank says it will not issue cash in April
> >
> > A close friend of mine was conducting a Y2K seminar in mid-November with
> > about 300 people in attendance. At the end of the session, a lady
> > introduced herself as a bank official at the largest bank in her state. My
> > friend asked her if her bank was ready for the Year 2000 computer crisis.
> >
> > Her reply was very interesting. First of all, she said that every bank
> > employee had been instructed to answer all public inquiries by saying "Yes,
> > our bank is Y2K Compliant." Any employee who answered otherwise would be
> > fired.
> >
> > Then she informed him candidly that their bank had already conducted two
> > Y2K tests on their computer systems. BOTH TESTS failed completely -- shut
> > down! So in spite of the public assurances that this huge bank is ready for
> > Y2K, they are plainly LYING to the public.
> >
> > Secondly, she offered additional information. She said, "We have also been
> > informed that in April, 1999, WE WILL NO LONGER ISSUE CASH!"
> >
> > What?? Friend, can you tell me why the largest bank in that state has
> > informed it's officers that it will not issue cash in April?
> >
> > I suspect that something big is about to happen, and it's going to happen a
> > whole lot sooner than we think.
> >
> > I just received a short email from one of my readers with a one-line
> > message;" My daugher works for ____ (one of the largest banks on the East
> > Coast), and they have advised them to set aside enough cash for 3-6 months.
> > They say the bank could be closed for days at a time."
> >
> > Banks controlling us - thumbprints.
> >
> > I don't know what that means, but I don't like the way it sounds.
> >
> > Recently, I went to a bank (not my own) to cash a check that was drawn on
> > that bank. I properly endorsed the check (it was written to me), and
> > presented my driver's license with photo ID. The teller handed me an INK
> > PAD, and asked me to put my THUMB PRINT on the back of the check.
> >
> > I refused to give my thumb print to cash the check. I insisted that she
> > cash the check without my thumb print. She said she could not. I asked to
> > speak to her manager.
> >
> > Her manager came out and I told him that I considered the thumb print
> > requirement to be an invasion of my privacy. He told me that it was bank
> > policy, and he could not cash the check without my thumb print.> 
> >
> > I asked to speak to the Branch Manager. They took me into his office. He
> > was a senior executive with the bank. I told him that I wanted to cash my
> > check. I told him that I had given the teller adequate endorsement and
> > identification, and I expected them to cash the check without my thumb print.
> >
> > He instantly grew belligerent and informed me that if I didn't want to give
> > my thumb print that I could just go to another bank. I told him that I
> > didn't believe that it was necessary to have my thumb print to identify me.
> > He explained that it was company policy. I asked him what they were going
> > to do with my thumb print. He said that they were going to put it on
> > computer file.
> >
> > I said that I didn't WANT my thumb print in their computer files. He
> > suggested I take my check somewhere else. I left immediately.
> >
> > My point in telling you this is that we are getting closer and closer to a
> > banking system that increasingly invades the privacy and rights of its
> > customers.
> >
> > The FDIC is demanding laws that will report our bank transactions.
> >
> > This week's headlines included the story of the FDIC pushing Congress to
> > pass new laws requiring banks to report the banking activities of all their
> > customers. The public is outraged, but in the end, the FDIC will probably
> > get what they want. Every time we make a transaction that is a little
> > different than our established "pattern", our bank will be reporting us to
> > "Big Brother". It is an economic Gestapo. Economic sanctions is one of the
> > New World Order's more ingenious control tactics.
> >
> > Ultimately you will be so outraged, you will wish you could get out of the
> > system. Unfortunately, you will not be able to do business outside the
> > system. 
>