Comment by worksonmine | Hacker News Reader

Comment by worksonmine | Hacker News Reader

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SVB locking money they might need access to is the FEDS fault do I understand you correctly? Did they hold a gun to their head? I'm not saying they're doing anything different than their competitors, but that's a stupid excuse.

The only thing that's broken is the financial system. A customer should be aware when depositing money that that money might be locked away, and agree to those terms, and get a cut.

This is SVB gambling and losing the bet, simple as. Everything else is just a pathetic excuse, don't enable it.

Just look at the term "excess liquidity", that's newspeak. I expect the bank to have my 100$ the day I ask for it. I'm not a using bank because I want to, but if I store it under my bed I get to deal with the IRS. They make themselves necessary to live, then expect my deposits to work for them.

Why/how does the IRS care if you store it under your bed? Serious question.

CTR and/or SAR and/or form 8300 and/or Fincen 105 when you actually spend it, either directly or they investigate and find you're the second link back.

And if you escape civil action by IRS, the fed or local government can simply take it as civil asset forfeiture without accusing you of wrongdoing.

.gov really really hates big piles of printed currency and if they find out you have it the temptation for them to take it can become overwhelming to various entities that survive off of the taking.

> Serious question.

Because criminals/tax evaders do that.

That doesn't answer my question. The IRS taxes income, not assets. They don't care where your money is.

They do care where it comes from though. And you have to prove it with a bullet-proof paper trail or it's assumed to be criminal gains. I didn't claim I couldn't prove it, but I'll still have to deal with the headache and make my case.

Others have already answered but the proof of guilt is the inverse, I have to prove my money is legit, or it will be confiscated. Then when I deposit it in a bank the bank gambles and looses the money anyways, because excess liquidity.

The game is rigged. Give me a bank where I just deposit my funds, and nobody touches it and I'm happy to pay for the service. Maybe I want a portion of it to grow and I'll allow it to be lended, for interest.

The bank should work in my interest, not their investors.

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