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Discussion Starter · #1 ·
Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year -- up to 42 billion transactions -- through a controversial data-mining program, according to documents obtained by the Washington Examiner. In addition, CFPB officials hope to monitor up to 95 percent of all mortgage transactions, according to the documents. A CFPB strategic planning document for fiscal years 2013-17 describes the “markets monitoring” program through which officials aim to monitor 80 percent of all credit card transactions in 2013.

Read more: Newly created fed agency aims to monitor 80 percent of credit card transactions | Fox News




I know I feel safer. Nothing like having every banking transaction, every phone call, every purchase, every e-mail, every post, every earnings, everything I do monitored. This is scary.


 

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I think it is safely to say the current administration has successfully doubled the size of our government. Big brother is now much bigger. This never ends well.
 

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I have read a couple of articles on this, but not one states exactly what "monitor" means!
 

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you monitor the sales numbers and build a data base of who is stockpiling weapons and ammo and parts and survival food and who buys 4x4 truck and jeep parts, you see who buys cold weather tents and sleeping bags and clothing. you see who is buying from overseas vendors...that sort of stuff comes to mind..
 

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you monitor the sales numbers and build a data base of who is stockpiling weapons and ammo and parts and survival food and who buys 4x4 truck and jeep parts, you see who buys cold weather tents and sleeping bags and clothing. you see who is buying from overseas vendors...that sort of stuff comes to mind..
As well as who cheats on their taxes.
 

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As well as who cheats on their taxes.
Easy, think about it.

"Dear Tax payer,

Your recent tax returns indicate that you made $60K last year. However, our records of your bank information and credit card/debit card indicate that you spent $64K. Please contact our office to schedule your audit".

What could go wrong? :confused:
 

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Easy, think about it.

"Dear Tax payer,

Your recent tax returns indicate that you made $60K last year. However, our records of your bank information and credit card/debit card indicate that you spent $64K. Please contact our office to schedule your audit".

What could go wrong? :confused:
You can spend more then you make. Nothing illegal there. You can make $60k and have 12 credit cards with over $100k combined. I can loose my job today and go directly to a dealership and put a car on credit card. Thats how lots of people file for bankruptcy. ...they owe more then they can pay.
 

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You can spend more then you make. Nothing illegal there. You can make $60k and have 12 credit cards with over $100k combined. I can loose my job today and go directly to a dealership and put a car on credit card. Thats how lots of people file for bankruptcy. ...they owe more then they can pay.
Of course, but you are expecting a Gov't agency to use common sense.
 

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I'm sure their use of the word "credit card" is really just another way of saying "Debit cards, prepaid cash cards, gift cards, or any other serialized piece of plastic that can be used to buy ammo, survival gear, etc. over the internet".

I doubt the tax issue is the main issue.
Sure they might have to resort to that in special cases like they did with Capone, but I think the main idea here is to track what everybody is doing at all times.
Sounds like they tried a dry run on international transactions before turning the money spying apparatus on their own people (us).
 

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Discussion Starter · #14 ·
Anyone thinking this ship will right itself without some type of involvement is kidding themselves.
 
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