Cash

About 50 years ago, I was watching Mike Wallace on 60 Minutes and this was my first introduction to illegal cash transactions. Wallace was interviewing a banker in Miami who was accepting cash deposits and Wallace asked, did you think it a little strange when a man came in an made a $200,000 cash deposit and the banker answered no. Since that time the Bank Secrecy Act was passed which says that all cash deposits of $10,000 or more must be reported to the IRS. One of the first signs that something unscrupulous or illegal is going on is when you see large cash deposits. Now go back to January of 2016 and the United States sent $1.7 billion dollars in cash to Iran. It was delivered on pallets and unloaded with a fork lift in the middle of the night. Why was cash needed and where did the cash go? No one knows but based on cash transfers it can be reasonably assumed that it was for some nefarious purpose.