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Transcript

Money Laundering and Song Production · I Hate Talking

• 0:29
  I Hate Talking: Welcome to episode 36 of I Hate Talking.
• 0:32
  I Hate Talking: Hi everyone.
• 0:33
  I Hate Talking: So we have some topics in mind and a word in mind as well for this episode, but it will not be an episode about synesthesia since we have not done any research on that.
• 0:46
  I Hate Talking: And actually I think we're even mispronouncing that word because I think we're adding an extra syllable in there.
• 0:53
  I Hate Talking: I think it's actually just synthesia, perhaps, maybe not, more to come, we'll find out.
• 0:58
  I Hate Talking: And it's not gonna be about sourdough at this point in time.
• 1:03
  I Hate Talking: No.
• 1:03
  I Hate Talking: Nor is it going to be the long awaited Keto episode.
• 1:10
  I Hate Talking: No, that'll be a good New Year's.
• 1:13
  I Hate Talking: Everyone on the New Year's holiday diets.
• 1:17
  I Hate Talking: That could be.
• 1:18
  I Hate Talking: And I heard of a new, I don't know if it's a fad or just something that I haven't run across before, the 30, 3030.
• 1:25
  I Hate Talking: Have you heard of that diet?
• 1:26
  I Hate Talking: Uh I did that for a little while.
• 1:28
  I Hate Talking: I think this is something different because it's Protein related and it's, do you do keto at the same time that you do 30, 30, 30?
• 1:36
  I Hate Talking: You have to do keto.
• 1:38
  I Hate Talking: It's you just choose a diet.
• 1:39
  I Hate Talking: It's 30 g of protein, 30 minutes when you first wake up, and then 30 minutes of exercise, right?
• 1:45
  I Hate Talking: I did that and you told me not to do it.
• 1:48
  I Hate Talking: Are you doing it now?
• 1:50
  I Hate Talking: No, because, well, there's of an interest to me because apparently like this keto guy does it and has like a keto version of it.
• 1:56
  I Hate Talking: Because I'm not keto, you didn't like it.
• 2:00
  I Hate Talking: But now keto people approve, so you approve?
• 2:04
  I Hate Talking: I will have to do more research.
• 2:07
  I Hate Talking: I have not I have not come to a conclusion on this.
• 2:10
  I Hate Talking: OK.
• 2:11
  I Hate Talking: So not synthesia, not sourdough, not keto.
• 2:15
  I Hate Talking: We are actually going to be talking about our word or phrase of the episode first and that word or phrase is the word launder.
• 2:25
  I Hate Talking: Not laundry, but launder laundry, launder.
• 2:30
  I Hate Talking: That is correct.
• 2:31
  I Hate Talking: OK.
• 2:31
  I Hate Talking: So, one would maybe not think that this has a very robust etymology because it's something that you use pretty consistently, probably in everyday life, you're going to wash your clothes or launder your clothes.
• 2:48
  I Hate Talking: You have a laundry mat.
• 2:50
  I Hate Talking: There's a lot of words with this root word in that I think are part of the normal lexicon and everyday usage.
• 2:58
  I Hate Talking: But it is once again from French as we trace back its roots, so not sure if that's a trend that we enjoy doing French words as our word or phrase of the episode or if that is just perhaps again, maybe ones that are not well known in terms of their etymology, but it does have a aspect of old French in it as well.
• 3:23
  I Hate Talking: Maybe it's a sign that we should go to France one day.
• 3:26
  I Hate Talking: Perhaps one day.
• 3:28
  I Hate Talking: We will have to see.
• 3:30
  I Hate Talking: That was not in my purview.
• 3:32
  I Hate Talking: I wonder if purview is a French word.
• 3:35
  I Hate Talking: Oh, another new word.
• 3:36
  I Hate Talking: Maybe next time.
• 3:37
  I Hate Talking: Yeah.
• 3:38
  I Hate Talking: So going back to the original etymology in the Greek and Latin roots, this actually comes from the Latin, from the word lavar, which means To wash And then it also came to be used as another related Latin word, Lavanda, which is things to be washed.
• 4:00
  I Hate Talking: It sounds like Wanda, like, help me Wanda.
• 4:03
  I Hate Talking: I'm not familiar with the reference.
• 4:05
  I Hate Talking: It's a song.
• 4:06
  I Hate Talking: This must have been before my time.
• 4:09
  I Hate Talking: Well, it was, but it's still famous.
• 4:12
  I Hate Talking: Well, it's a Beach Boys song, so that must be why you don't know it.
• 4:15
  I Hate Talking: That could be why I do not know it.
• 4:17
  I Hate Talking: And it's interesting to note that we will actually be talking about songs later in this episode.
• 4:22
  I Hate Talking: So maybe that's why I was on your mind as well.
• 4:24
  I Hate Talking: And then it came to be used from the Latin in Old French lavender, which again means things being washed or the actual noun of the things that are washed.
• 4:38
  I Hate Talking: And then from French into old Middle English lavender, or just lavender, I guess would be how we pronounce it in the normal pronunciation.
• 4:50
  I Hate Talking: I think there would be a bit of uh emphasis on the lavender.
• 4:55
  I Hate Talking: Uh, because that also I think has the L A V E N D E R, that V E becomes the letter U.
• 5:07
  I Hate Talking: So not only the word going through the etymology of different languages, but I also think some of the iconography being changed as the letters themselves merge with each other.
• 5:20
  I Hate Talking: And that is perhaps beyond the scope of this episode, but I guess there is some history here that I'm maybe slightly aware of, but don't know much about where the letter you did not really exist in alphabets that The letter V stood for both the vowel sound, and the consonant and was sort of used interchangeably.
• 5:43
  I Hate Talking: So I believe that's what we're seeing here happen with the Old English becoming the lavender, the VE become the letter U in launder in the modern usage.
• 5:58
  I Hate Talking: Hm, OK.
• 5:59
  I Hate Talking: So that is the etymology of the word launder from Latin and a variety of words within the Latin to the old French to the old Middle English and now our current English.
• 6:11
  I Hate Talking: And the word that even I reference with some of the usage in the modern day usage is washing something or.
• 6:20
  I Hate Talking: Referring to typically clothes or linens that you're going to launder those things to make them clean, but there is also another definition that was in our mind for this particular word or phrase of the episode.
• 6:38
  I Hate Talking: OK.
• 6:40
  I Hate Talking: And in fact, this was your idea.
• 6:43
  I Hate Talking: Oh yeah, I was like, why are you looking at me?
• 6:48
  I Hate Talking: Yeah, I was thinking about it in the terms of launder as in laundering money.
• 6:55
  I Hate Talking: Precisely, and that Would be the second verb usage is to conceal typically of something around money obtained illegally or by transfers involving foreign banks or either legitimate or illegitimate businesses, and it can be used more generally to just have a meaning of altering, especially around information to make it appear more acceptable.
• 7:24
  I Hate Talking: And there's actually a noun that I was not familiar with for launder as well.
• 7:29
  I Hate Talking: It is quote a trowel for holding or conveying water, especially in mining.
• 7:35
  I Hate Talking: And one used for washing or.
• 7:39
  I Hate Talking: Or a channel for conveying molten metal from a furnace or container to a ladle or mold, so it actually does have a tiny aspect of washing in it because it's used for washing or or at least the conveyance and holding of whatever this particular ore or water or molten metal is, but it actually can be used as a noun launder.
• 8:06
  I Hate Talking: Huh, OK.
• 8:06
  I Hate Talking: So there you go, we learned something new as well, in addition to our etymology and the verb usage.
• 8:12
  I Hate Talking: Nice.
• 8:13
  I Hate Talking: So the reason that this word became eligible for consideration in this podcast is because of some laundering that you did and we do a lot of laundry because we do have kids and they are very active and we have animals and a busy lifestyle that does dirty our clothes in a whole different variety of ways.
• 8:38
  I Hate Talking: But that is not the laundering that we were referring to when we were thinking of this particular word of the episode.
• 8:46
  I Hate Talking: No, you're right though.
• 8:48
  I Hate Talking: We, as a whole, and a big part of my day is laundry for our clothing.
• 8:55
  I Hate Talking: But the reason the word was coming up, and I wanted to learn about it was because a funny story.
• 9:03
  I Hate Talking: A couple of months ago, we had our anniversary.
• 9:06
  I Hate Talking: And it was kind of a big one, and so I knew I wanted to do something special.
• 9:11
  I Hate Talking: So I hired somebody to write you a song about our relationship.
• 9:17
  I Hate Talking: But we share finances, and I knew that you would see it, it would not be a surprise if you saw the purchase, or even if I got out cash, like, that would be very shocking.
• 9:34
  I Hate Talking: You'd have a lot of questions, why did I take out so much cash?
• 9:37
  I Hate Talking: So, for several months, I then mowed my sister money, just little bits here and there, and she kept it and then she paid the gentleman to write the song.
• 9:51
  I Hate Talking: So I was very proud of that.
• 9:53
  I Hate Talking: It was a long process, and she was so helpful.
• 9:57
  I Hate Talking: I appreciated her participation.
• 10:00
  I Hate Talking: And that was one of the first things you said when you got the gift.
• 10:04
  I Hate Talking: You were like, how did you pay for this?
• 10:05
  I Hate Talking: And I was like, Oh, so I explained to you and you're, you're like.
• 10:09
  I Hate Talking: So you laundered the money.
• 10:11
  I Hate Talking: No, maybe, wait, I don't, I guess so, but it wasn't illegal.
• 10:18
  I Hate Talking: It was basically my sister just holding the money for me.
• 10:23
  I Hate Talking: Little bits at a time.
• 10:25
  I Hate Talking: Instead of buying a coffee, I'd give her.
• 10:28
  I Hate Talking: She put the money aside for me.
• 10:30
  I Hate Talking: But that's why it wasn't illegal, right?
• 10:34
  I Hate Talking: And that's why I wanted to learn about laundering.
• 10:36
  I Hate Talking: So I don't think what I did was wrong, and I don't think I'll get away with it again, ever.
• 10:41
  I Hate Talking: Well, you are quite correct that I don't think it is illegal, right?
• 10:46
  I Hate Talking: You did not do anything under the auspices of trying to do that for personal financial gain in a way that would somehow hurt or injure some other financial party.
• 11:02
  I Hate Talking: But that you were doing it in a way to keep it secret, which uh if anybody is wondering and doesn't get the context on that, you can go back and listen to our three part miniseries on money uh from episodes 1516 and 17, and it was episode 17 where we talked about different ways of tracking costs and talked about how every credit card transaction and bank account transaction.
• 11:32
  I Hate Talking: Flags and alert to us so that we see every charge and I actually did in fact see the Venmo charges, but because as you said, they were in smaller increments and were perhaps noted as like a small gift or something that you were reimbursing your sister or other family member for that they passed my Test for validity and did not give any second thought.
• 11:59
  I Hate Talking: Right, yeah, because often for me, it is a pretty common back and forth with friends and family that we thenmo each other, like if we're out, we get some meal.
• 12:09
  I Hate Talking: One of us will like just demo the other person or part of it, or that sort of thing.
• 12:17
  I Hate Talking: So, I knew that, you know, 20 bucks here, 10 bucks there would not be concerning for you.
• 12:24
  I Hate Talking: Precisely.
• 12:26
  I Hate Talking: And while the song composition was relatively expensive, I guess for what we would typically buy each other for a gift.
• 12:35
  I Hate Talking: It's not outrageous, but it did take several different transactions of those small incremental amounts to arrive at the final total that was needed.
• 12:46
  I Hate Talking: But never had a clue.
• 12:49
  I Hate Talking: Yeah, that was so fun.
• 12:50
  I Hate Talking: So were you mad that I figured out a way to keep the money from you?
• 12:57
  I Hate Talking: I suppose I would be mad or would have been mad if it had been for a true nefarious purpose and you were, you know, squirreling the money away for some other reason or whatever the case may be, but since it was explicitly for a gift that did not anger me.
• 13:15
  I Hate Talking: I was maybe a bit disappointed in myself that I was so easily taken by the fact that you use this method of laundering our own money and therefore hiding the intent of where these funds were actually going, but nonetheless, no anger that I'm aware of was present.
• 13:36
  I Hate Talking: So I wasted my opportunity then.
• 13:38
  I Hate Talking: This was your one shot.
• 13:41
  I Hate Talking: I do now take a look at the Venmo transactions a bit more closely, but Use this particular method and now it's sort of burned.
• 13:50
  I Hate Talking: Oh no.
• 13:51
  I Hate Talking: And the cool thing about this particular song is that as we have paid for it and reimbursed the artists and their company as such that we now own the rights to the song, so we can actually be able to play the song at the end of this episode.
• 14:11
  I Hate Talking: Yeah, I thought he did a really good job.
• 14:14
  I Hate Talking: Um, I really appreciated working with him and He asked like questions about our relationship and things that were important to me about it.
• 14:24
  I Hate Talking: And I was really pleased.
• 14:26
  I Hate Talking: Also, I did it intentionally in a genre.
• 14:31
  I Hate Talking: I feel like you like to listen to, because I wanted to do listen to it often.
• 14:36
  I Hate Talking: I prefer like country music.
• 14:39
  I Hate Talking: I know you like more harder metal stuff.
• 14:42
  I Hate Talking: And so I intentionally wanted it not to be too much like maybe the Beach Boys that you don't listen to.
• 14:48
  I Hate Talking: When I played it for you, I was like super excited.
• 14:54
  I Hate Talking: You'll like see commercials for this kind of thing a lot, and people like set up a hidden camera to get the person's expression.
• 15:01
  I Hate Talking: I tried that a little bit, it didn't work well, because also I knew that If I set up the camera, you'd see it and then that's weird and tip you off.
• 15:12
  I Hate Talking: So I was just like, hey, I want to play a song for you.
• 15:14
  I Hate Talking: But like, you got like, really weird, not weird but like surprised uh when it started, cause it's not a song I would typically listen to.
• 15:22
  I Hate Talking: So, then I was like, oh no, maybe I chose the wrong thing.
• 15:27
  I Hate Talking: Maybe he doesn't, like, this is not good after all.
• 15:29
  I Hate Talking: Indeed, and that was precisely the reason for my reaction.
• 15:34
  I Hate Talking: It was surprised at the fact that you would have enjoyed this song and wanted to share it because it definitely was not within your genre of normal consumption, but that was the very only reason because I actually did enjoy the song and did enjoy the genre and the balance that it had, but it was because Of the genre itself and the fact that you were sharing it with me that made me surprised.
• 16:02
  I Hate Talking: Yeah.
• 16:03
  I Hate Talking: And also going back to it, and this was the whole family ordeal because I had my brothers also listen beforehand to the artist, like, do you like him or do you like him?
• 16:15
  I Hate Talking: Which one's better for Adam?
• 16:16
  I Hate Talking: And they agreed with the person I chose, and then I had them listen to the song afterwards before I gave it the approval.
• 16:24
  I Hate Talking: So it was like a whole family, all my siblings were involved.
• 16:26
  I Hate Talking: It was great.
• 16:27
  I Hate Talking: It's a very clandestine operation.
• 16:31
  I Hate Talking: There you go.
• 16:32
  I Hate Talking: Yeah, and then when in the song did you realize it was for you?
• 16:36
  I Hate Talking: So there was a particular verse that did mention some very specific things.
• 16:42
  I Hate Talking: So I think I'd have to look at the lyrics again, but I believe like the first verse and chorus were like generic enough that I didn't really think anything of it, but then definitely the second verse, and then it obviously has our names in it too.
• 16:56
  I Hate Talking: So that was uh by then 100% sure that this was.
• 16:59
  I Hate Talking: Very curated for our own consumption and that you had done this in some form or fashion.
• 17:06
  I Hate Talking: Yeah, I, yeah, it was fun watching your reaction, try to process it.
• 17:11
  I Hate Talking: Like I said, it's a good song.
• 17:12
  I Hate Talking: Our kids walk around, their names are not in it, but they are referenced, and so they love that.
• 17:19
  I Hate Talking: They like sing the song around the house and it's cute.
• 17:22
  I Hate Talking: I like it.
• 17:23
  I Hate Talking: It's a nice keepsake as a family.
• 17:25
  I Hate Talking: And if you are a subscriber and listener to our other podcast that is hosted by Dark A Nature Facts with Dark A, you may recognize the tune because that is his intro and outro music, just the instrumental portions of the song.
• 17:44
  I Hate Talking: Yeah, that is true.
• 17:45
  I Hate Talking: We, we, we use it for his podcast.
• 17:48
  I Hate Talking: So you can go on over there and give it a listen.
• 17:51
  I Hate Talking: Or stay tuned to the very end of this episode and you can hear in its full entirety.
• 17:57
  I Hate Talking: Yes, that's our story of our song, and I love that.
• 18:01
  I Hate Talking: Yeah, we have the rights to it now, and you just always have this memory.
• 18:05
  I Hate Talking: Like going back to how I acquired it, paying for it with the laundering, is laundering in that sense always illegal?
• 18:17
  I Hate Talking: You said it's always got to be like nefarious, right, like the purpose is to hurt another person or entity, because I don't know too much about that necessarily, except for what you see on TV, right?
• 18:27
  I Hate Talking: Like people laundering money overseas because they don't want to pay taxes or whatever.
• 18:34
  I Hate Talking: I don't know anyone that does that as far as I know, but you see it on TV all the time.
• 18:38
  I Hate Talking: Right, so the aspect of laundering money is essentially concealing the origins of the money, wherever that came from either by transferring money to foreign banks or legitimate businesses.
• 18:55
  I Hate Talking: So typically the money that you are laundering.
• 18:58
  I Hate Talking: will always be obtained illegally and therefore that makes the laundering of the money illegal as well.
• 19:06
  I Hate Talking: So this could be either by some form of theft where you are stealing the money and then therefore you have this large pile of currency or cash that you then have to bring into your own personal accounting and you would do that through money laundering or you could be gaining these.
• 19:25
  I Hate Talking: Ill-gotten funds by some form of illegal activity, perhaps one that comes to my mind in the TV realm that you mentioned is Breaking Bad, where they are laundering the money from their sales of illicit drugs and doing that through.
• 19:43
  I Hate Talking: A car wash, right?
• 19:44
  I Hate Talking: I was gonna say laundromat, but I'm not sure.
• 19:48
  I Hate Talking: Oh man, it's such a good show.
• 19:50
  I Hate Talking: Is it a car?
• 19:51
  I Hate Talking: Oh yeah, yeah, I forgot about it.
• 19:53
  I Hate Talking: It was a car wash, yes.
• 19:54
  I Hate Talking: So.
• 19:55
  I Hate Talking: We definitely know that the obtaining of the money is typically going to be illegal and then therefore, because the Obtaining of the money is illegal, then the laundering also becomes illegal as well.
• 20:11
  I Hate Talking: So, tell me if I'm wrong, because I've always pictured this in shows when I hear about it.
• 20:18
  I Hate Talking: Is it called laundering?
• 20:21
  I Hate Talking: Because it maybe this sounds insane to say out loud.
• 20:24
  I Hate Talking: In my head, I picture it because, like, laundry that you wash.
• 20:29
  I Hate Talking: And it's clean.
• 20:31
  I Hate Talking: I always picture them take the money.
• 20:33
  I Hate Talking: I'm obviously like, I picture them washing it, but I know they're not like doing that, but basically scrubbing, it's history, right?
• 20:42
  I Hate Talking: Because often you can track where a dollar is spend or where Something's been, right?
• 20:49
  I Hate Talking: Based on its transactions.
• 20:52
  I Hate Talking: And obviously, when you do like electronics, it's way easier.
• 20:55
  I Hate Talking: You can track where all that money has gone.
• 20:59
  I Hate Talking: Electronically.
• 21:00
  I Hate Talking: Uh, with this money, if you moved it here and then you moved it there, and you moved it there, it's hard to remember track who originally had it, right?
• 21:10
  I Hate Talking: That is the idea with electronic transactions is that those electronic transactions are gonna be able to be traced from all those different movements and that typically money laundering will involve currency where you have cash that is being infused into some legitimate business and then therefore claimed as part of their revenue and their income, but nobody actually paid them money for any goods or services.
• 21:39
  I Hate Talking: Right.
• 21:40
  I Hate Talking: So, do you understand what I'm saying?
• 21:43
  I Hate Talking: Like, is that super off base or ridiculous?
• 21:47
  I Hate Talking: That they can track currency and dollar bills.
• 21:51
  I Hate Talking: Yeah, in my head I just pictured them like.
• 21:54
  I Hate Talking: Washing, I know.
• 21:56
  I Hate Talking: OK, that sounds dumb.
• 21:56
  I Hate Talking: I know they're not washing it like with soap and water, but kind of like, so you don't know who had it last.
• 22:05
  I Hate Talking: Yeah Well, I suppose that if they're very, that's true.
• 22:11
  I Hate Talking: They do have dedicated serial numbers and they're unique.
• 22:16
  I Hate Talking: So perhaps for larger currency bills, they would be tracked through the serial number and they could record, you know, that this bank received it and that it went from, you know, this local bank to the state bank to wherever it goes throughout its travels among the United States as it is.
• 22:36
  I Hate Talking: Spent and redeemed and so on and so forth.
• 22:39
  I Hate Talking: So, I don't know if there would really be anything where they are changing the serial number of a large denomination bill.
• 22:49
  I Hate Talking: Perhaps what you are thinking of is called bleaching money where counterfeiters take low denomination bills like a $1 bill or $2 bill, and then that's fancy.
• 23:03
  I Hate Talking: Yeah, or they would take a, a low denomination bill, like a $1 bill or a $5 bill or even in this world of inflation, a $10 bill, and then use that material because of the special paper material that is used for US currency and then print a counterfeit bill of a higher denomination.
• 23:24
  I Hate Talking: So they're basically utilizing that as their raw material.
• 23:29
  I Hate Talking: So that's bleaching of money or sometimes maybe called washing money, uh, but basically it's, they're using that solution to get all the markings off so that they're left with the blank paper and then reprint the larger denomination.
• 23:44
  I Hate Talking: That's not what I was thinking of, but did I tell this story before where I was at the store a while back and the person in front of me was paying in coins.
• 23:55
  I Hate Talking: And the sweet cashier.
• 23:59
  I Hate Talking: had apparently never seen a $1 coin before and was really confused.
• 24:05
  I Hate Talking: And she had to go get her manager.
• 24:07
  I Hate Talking: And while they're waiting, I almost asked the lady, like, hey, can I buy those from you?
• 24:15
  I Hate Talking: Like, you know, give me your dollar coins and I'll pay your thing.
• 24:19
  I Hate Talking: Because dollar coins are super cool and rare, or I think at least I don't see them around, but I didn't, cause maybe it was sketch, I don't know.
• 24:27
  I Hate Talking: I didn't want the cashier to feel bad because she was like super confused anyways.
• 24:32
  I Hate Talking: But I told you about it and you were like, oh, you should have gotten them.
• 24:36
  I Hate Talking: That would have been cool.
• 24:37
  I Hate Talking: It makes me think of that when you're talking about the $2 bill, I thought of that.
• 24:40
  I Hate Talking: I'm like, yeah, I want $2 bills.
• 24:42
  I Hate Talking: I don't want to pay for a soda with that.
• 24:44
  I Hate Talking: Like, those are cool to keep.
• 24:46
  I Hate Talking: Yeah, we always keep our eyes out for those dollar coins.
• 24:50
  I Hate Talking: Even some of the half dollar coins, if they are minted before a certain year, I think 1969.
• 24:55
  I Hate Talking: Prior to that, they had a higher silver content, so those are more valuable.
• 25:00
  I Hate Talking: And then the $2 bills as well are, uh, depending on which print series they are, they can be $10 up to many, many, many thousands of dollars.
• 25:10
  I Hate Talking: Our one son has a penny that is estimated at like $10 right?
• 25:16
  I Hate Talking: And he loves to tell people, like, he adds it in with his amount of money he has, if he's got maybe $15 he'll be like, I've got $25.
• 25:26
  I Hate Talking: Well, Not really, but OK.
• 25:29
  I Hate Talking: There you go.
• 25:31
  I Hate Talking: So we also did some offline research and did a little bit more research into this idea that you have of changing the serial numbers of a large bill, and that does exist and it is typically just classified as a kind of money laundering where somebody might change the serial number to make it so that it's harder for anyone to track where.
• 25:58
  I Hate Talking: The origin of that particular bill was and make it harder to link back to its original source.
• 26:05
  I Hate Talking: So that is under the grand scheme of things part of money laundering as well.
• 26:11
  I Hate Talking: So it's a very small part of it, but I was correct.
• 26:16
  I Hate Talking: You are correct in that aspect.
• 26:18
  I Hate Talking: I don't even see that it has like a specific name.
• 26:21
  I Hate Talking: It just sort of says that it's laundering is money laundering.
• 26:25
  I Hate Talking: Well, I'll take that then.
• 26:26
  I Hate Talking: Now it is against the law, so you, I would imagine that they describe it in some sort of terminology for if it's, yes, if it is somehow defaced or changed that they would refer to that in some word, but.
• 26:47
  I Hate Talking: Not finding that either, but nonetheless, it does appear that probably not as frequently, but part of money laundering is changing the serial numbers.
• 26:57
  I Hate Talking: OK.
• 26:58
  I Hate Talking: And also, is it really truly illegal here in the US to draw on your money?
• 27:06
  I Hate Talking: I always feel like people say that, but then you see it happen all the time.
• 27:10
  I Hate Talking: So I believe that is illegal.
• 27:13
  I Hate Talking: Obviously, the tracking of that is going to be very difficult and probably not really worthwhile for any of the government agencies to really try to crack down on that.
• 27:27
  I Hate Talking: So it's probably a little bit more of just trusting that people are going to do the right thing and not deface their currency.
• 27:38
  I Hate Talking: And then I suppose that in some places, if it's really bad, that if it is either in very poor condition or extremely defaced that obviously the person that you are paying has the right to refuse that as a mechanism for payment.
• 27:55
  I Hate Talking: So something to keep in mind if you are even receiving this bill or facing the currency that you may not be able to use it.
• 28:04
  I Hate Talking: The specific code here is from Title 18, Section 333.
• 28:12
  I Hate Talking: And it says, quote, Whoever mutilates, cuts, disfigures, perforates, unites, or cements together or does any other thing to any bank bill, draft note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve system with intent to render such items unfit to be reissued shall be fined under this title or imprisoned, not more than 6 months or both.
• 28:35
  I Hate Talking: OK.
• 28:35
  I Hate Talking: And I guess there's Some things that are under the judicial realm of what is considered defacing of currency.
• 28:47
  I Hate Talking: There's, I guess some people that have done artwork on currency and that is considered illegal under this, but perhaps uh other things not quite as serious.
• 28:59
  I Hate Talking: And those uh probably not necessarily prevent the currency from being used and circulated.
• 29:07
  I Hate Talking: And what about squished pennies?
• 29:10
  I Hate Talking: Because I can't be illegal since they're at the zoo and uh Disney and all those places, right?
• 29:17
  I Hate Talking: Getting all my money questions answered tonight.
• 29:20
  I Hate Talking: Making sure I'm on the up and up.
• 29:23
  I Hate Talking: So, according to this first search result, because this was not a planned question for this episode, but in the same title, uh, earlier section, it says that you cannot alter or mutilate coins for fraudulent use.
• 29:41
  I Hate Talking: So, as long as they're not going to be fraudulently used, alter and mutilate your coins all you want.
• 29:47
  I Hate Talking: So that's why some people can turn them into jewelry or squish pennies.
• 29:52
  I Hate Talking: Precisely, as long as you're not laundering the coins, so to say, and trying to maybe make a nickel into a quarter or something like that, that as long as you're not fraudulently doing something to the coin, that apparently you're allowed to do that.
• 30:06
  I Hate Talking: So squish pennies are allowed.
• 30:08
  I Hate Talking: There you go.
• 30:09
  I Hate Talking: OK.
• 30:10
  I Hate Talking: Now the only other caveat I guess to that is that You can't melt down the coins and sell them for scrap for their market value, which I guess there would be probably some coins that are more valuable for the metal, old pennies, right, would be more valuable for the actual copper that's in them.
• 30:30
  I Hate Talking: So I guess that's sort of quote unquote classified under the fraudulent use, but that is specifically called out as illegal.
• 30:36
  I Hate Talking: OK.
• 30:37
  I Hate Talking: So, if you've enjoyed this conversation about some of the aspects of laundering and how it relates to the clandestine production of personal music for anniversaries.
• 30:53
  I Hate Talking: We hope you will like and share this episode and just share it with one friend and they may enjoy it as well.
• 31:02
  I Hate Talking: Yeah, they might need to know this so that they don't break the law.
• 31:05
  I Hate Talking: Very possible.
• 31:07
  I Hate Talking: And as promised, as we conclude, we will end with that very song.
• 31:14
  I Hate Talking: So, from your friends at I Hate Talking, until next time, remember, it is only through talking that we begin the journey to understanding.
• 31:21
  I Hate Talking: Uh Or Another 5 years All the 4 boys and soon.
• 33:00
  I Hate Talking: Oh.
• 33:00
  I Hate Talking: A The And why Through Through our To