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This is my first answer on Quora. It is going to be a long post and an informative one, kindly bear with me. I am sharing it here now so that it might help the future aspirants.This is my 3rd RBI Grade B- DR interview. I have taken the interview consecutively from 2017 onwards. I've taken other regulatory/supervisory bodies interview. Well, that's the story for some other day. The mains result came in the month in December 2019 and my interview was scheduled in mid-March (last day for generalist interviews). So I had ample time to prepare for my interview. Out of the 4 months, the first 2 went with the training and adjustments on my new job (NABARD), another one procrastinating, and started the focused preparation only in the last month after mid-February.A brief background about myself:Name: Shubham GoelProfile: B-Tech, CS (2015)Previous attempts: RBI Grade B 2016 appeared for mains2017, 18 missed the final merit list.Work Experience:SBI PO 2015 batch. (2015-2019)NABARD Grade A 2019 Batch. (2019- to date)Venue: New DelhiDate: 14/03/2020Duration: 24 minutesWe were allowed entry to the RBI building at 8:45 AM. The beautiful building of RBI that is meant to be admired. The Yaksha and Yakshini erected at the entrance hall possess a quality of ingenuity, prosperity, connection to place, and, above all, imagination. Soon after I entered the building I was told that I am the first candidate to be interviewed that day.When I was done with my document verification I decided to read the newspaper only to realize that nothing was going inside my head. I was called by the coordinator for the interview and asked to sit outside the interview room. Of all the RBI interviews I’ve taken, one thing remained common, my heart thumping at 130 bpm.The bell rang and I went inside the interview hall.Setup: Chairman (C); M1, M2, M3, M4, and L1 were the other 5 members sitting 2 on my left side and 3 on my right side; L1 was the only Lady member. Chairman was seated opposite me.I greeted everyone and then the interview started.Chairman (C): Where are you working currently?Me: Sir, I am working in NABARD.Chairman (C): Any work experience before joining NABARD?Me: State bank of India for 3.5 years.Chairman (C): Asked about if there is any gap? About college? About my graduation discipline?Me: ToldChairman (C): Mam (L1) will take over from here I'll intervene whenever requiredL1-You've worked in the SBI Industrial finance branch what ratios and aspects you look into while giving the loan?Me: Told about liquidity, solvency, profitability ratios. Interest coverage ratio. I told past credit History records and bank accounts to gauge any discrepancy.L1- You are missing one of the important ones?Me: I told some other ratios, she interrupted.L1- Do you remember DSCR?Me: I gave the full form of it and told it is important.L1- Why NPA has increased to such level?Me: I tried to tell from the starting 2000-2008 (I was well versed with this as it was asked in one of my previous interviews and it was very nicely mentioned in Economic Survey 2017-18).L1- Interrupted me in between and asked me to tell, referring to the current scenario?Me: I told about the slowdown, various sectors impacted (aviation, telecom, auto), twin balance sheet problem, over-leveraged business, clearance issues, red-tapism. No cross-question further.M1- Why did you leave SBI and joined NABARD?Me- (I knew this will be asked to me so I prepared it beforehand but didn’t expect so many counter-question) Told SBI is basically into the implementation of policies. Policy formulation related to agriculture and rural development is done by NABARD. It has a unique type of bank with a niche market. Impacted the lives of many people (Told about one of the successful projects by NABARD in my home district and how it has increased the livelihood opportunities for the people). Inclination towards it as I belong to the farming background. I was mentioning growth in NABARD is good suddenly Chairman Sir in denial mode barged in and said growth in SBI is immense will be able to touch lives if many people.Chairman (C)- Okay, then why NABARD to RBI then with a witty smile on his face?Me-The mandate of NABARD is agriculture and rural development which is very limited but mandatory of RBI is very wide covers the whole economy.M1- mockingly said now where did your inclination towards agriculture and rural development go? Tell us something else?Me-I told it is a career progression for me Grade A to B ( Note- Grade A denotes Assistant Manager and Grade B is Manager Post). He acknowledged and said yes career progression is important.M1- Have you read the IWG ( Internal working group) committee report on agriculture credit by MK Jain?Me- Yes. ( I’ve read this report thoroughly and prepared notes on this report. The EverNote link is attached which I made before the interview)https://www.evernote.com/l/ATNdjNm6GUZFr7qym2K-chILTytjUiGMIks/M1-Tell about the report?Me-Told from the starting.M1-Asked about recommendations?Me-Told 7-8 to perfection.M1-Have they recommended any change in PSL ( Priority sector lending) targets?Me-Yes. SMF(Small and marginal farmers) from 8% to 10%.M1-Something else about PSL?Me- FPOs( Farmer producer organization) with 75% SMF and credit up to 50 lakhs must be counted under PSL. (He looked satisfied).M1- You are missing one of the critical recommendations?Me: I thought for a while finally said sorry sir can’t recall.M1- Does the report mention anything about land reforms?Me: Told about model land leasing act and an act currently in Andhra Pradesh(land license cultivators act). Tenant farmers unable to avail credit. These might help. (He looked satisfied).M1- Has RRBs lost their existence? (This was asked as I mentioned RRB, in one of the points when we were discussing the IWG report)Me-Told financial inclusion was their main purpose. (Many counter questions, in the end, I felt they cornered me as I was indecisive about the relevance of RRBs)M1-Issues faced by RRB?Me- Technology, competition from SFBs, and commercial banks.M1-biggest liability for RRB?Me- told NPA. (Though I knew that NPA name itself suggest it as an asset but nothing else was coming to my mind)M1- Tell us something else?Me-I can't recall.Ans was Pension I acknowledged.M2-Difference between banks and NBFC?Me-Told (The same question was asked in my 2017 interview)M2- Follow up questions were, Who provide Deposit insurance? Also, mention the amount?Me-Told ( As the changes were made in the 2020 budget after the PMC crisis)One tough question then.M2-Why export invoicing is not done in rupees? (As I was in Forex department in my previous job)Me-Told rupee is not acceptable globally.M2-Asked why?Me-I told about 5 reserve currencies (USD, Pound, Euro, yen, yuan) India's export share to global export is less than 2%.India is a developing country Low GDP.No cross-questions then. (Don't know he was satisfied or not couldn’t gauge from his reactions)M2- Asked about NDS?Me- Sorry sir I couldn't recall.M3- Can blockchain help the tenant farmers.?Me-I told projects have been implemented in the state of AP and Telangana. Land records and land consolidation could be done. (He looked extremely satisfied).M3-Again a question on RRB. Why RRB's were formed? (As I mentioned in the timeline mentioned as per MK Jain report)Me-I told for financial inclusion. Less than 1% of farmers were under formal banking during the 1970s. To provide credit to weaker sections, Agri and MSME.M3- Asked what more?Me-I told somewhat but he was not satisfied.He told the employment factor. Local sourcing of people and salaries we give to the locals are less. So a bank branch working at a very low cost. ( I would not be able to guess this in eternity)M4-Risks with banking?Me-Told LIMCO. ( Liquidity, Market, Credit, operational risks)M4-Difference between country risk and sovereign risk.?Me-ToldM4-Asked if you've worked in the retail sector?Me-yes.M4-How do you finance a home loan?Me-ToldM4-Risks associated with home loan.?Me- Again told credit risk. He then asked me to tell something else, something specific.Me- If we go at the macro level. Liquidity risk. (Short term borrowing to long term finance)M4-Not satisfied. He said you're missing a very important thing?Me- I said sir can I get a hint.M4- Smiled.Me- Asked me to go.As I was getting up. Chairman sir stopped me.Chairman(C)- We've gauged your knowledge on various aspects. Now I would like to have your opinion on public finance. Should we be rigid on FRBM targets?Me-Told many sectors are under stress. Public spending is required. We should forgo FRBM targets because it's not a normal situation. Already escape Clause has been executed. 3.3 to 3.8% in the budget of 2020. ( At that time Covid-19 was spread in China and various European countries but till then India was largely unaffected with less than 100 positive cases. Things started escalating afterward)More money in the hands of peopleConsumption lead to- investment - employment - GDP growth. (Mentioned about the virtuous cycle from Economic survey 2019-20)Chairman(C)- In disagreement, I am very conservative, I don't think it should happen. What will happen if we forgo the FRBM targets?Me- the confidence and trust of countries towards India might take a hit.I don't know if he was satisfied or not. Said okay you may go.I thanked everyone and came out of the room.Key Takeaways:1.There are 5 areas from which the questions will come:a) Profileb) Current affairs/issues.c) Reserve bank of India functions and workingd) Graduation ( Will be asked mostly to people with no work experience)e) Basic Economics and finance issues ( Could be tricky as the aspirants were asked about the financial crisis like 2008 GFC, Euro-zone crisis, Asian financial crisis)2.The majority of the questions will be profile based prepare your profile i.e Graduation, work-ex, certifications, and any other thing you've mentioned, thoroughly. We keep on reading bulky notes and give less attention to our profile. Not answering something related to your profile can leave a bad impression.The bio-data must be used as a bible in interview preparation carefully thinking about every possible angle from where the questions can be asked.3.There is a common saying for the interviews:"Interviews are just to gauge your personality and not your knowledge as they have gauged your knowledge in the previous 2 phases”. I would like to differ a bit as this statement makes us complacent. We can’t just flaunt our personality without adequate knowledge. The personality will be truly reflected if substantiated by knowledge and lots of practice.4.Be very particular about the time and wishing them good morning/afternoon. They do judge you based on that.5.Always try to make your opinion on the recent happenings. Back them up with facts and figures.I was satisfied with my performance as I consider it to be better than what I did in my last 2 RBI Grade B interviews. I hope the panel feels the same as I do. To be frank, interviews are highly subjective and one should not expect much because, in the end, 2/3rd of the aspirants will go empty-handed. Having said that, one should always be hopeful of the positive end result.The results will be delayed because of the pandemic. I hope this year, ends my 3-year drought. I will update you with the final verdict.Edit : The drought is gone. The mighty drought could not decimate the roots hidden under the soil. Finally with God's grace I cleared RBI Grade B 2019. Dream come true.

Philosopher George Santayana once said, “Those who cannot remember the past are condemned to repeat it.” Experience tells us that loan waivers have not been successful in solving the Indian farmers’ problems, so why should this time be any different? The root causes – lack of access to institutional credit, rising cost of inputs like seeds and pesticides required for farming, and the inability to receive remunerative prices – are not being addressed.What is the difference between a loan write-off and a loan waiver?Loan write-offs are not the same as loan waivers. A loan write-off is an accounting entry which banks make when they have determined it is unlikely a particular loan will be repaid. In this case, the loan is said to have become a non-performing asset (NPA) which no longer generates any income.For more accurate reporting of income from period to period, banks maintain a contra-asset account in the balance sheet known the loan loss reserve. The value of the loan loss reserve is based on the amount that is not expected to be recovered in the future, and is determined with reference to historical information on loan defaults. Loan loss provisions are recorded in the income statement as an expense to adjust the loan loss reserve so that it is sufficient to cover expected defaults. This reduces pre-tax income.When the loan is finally written off at the end of this process, only balance sheet accounts are affected, namely the loan loss reserve and outstanding loan. This is recorded as a debit to the to loan loss reserve and a credit to the outstanding loan. Consequently, the net portfolio on balance sheet is unchanged. From this, it can be seen that the primary purpose of a loan write-off is to remove NPAs from the books and keep things tidy.On the other hand, a loan waiver is a promise by the bank not to insist on its strict legal right to recover the loan according to the original terms of the loan contract. Therefore, once the bank has waived a loan, it cannot turn around and insist that the borrower should pay because it has already relinquished its right to do so and will be estopped by the court if it tries to do so. By contrast, a loan write-off does not amount to a waiver, and the bank can continue to pursue the borrower.Why are people upset about the loan waiver?Firstly, banks ostensibly benefited more than farmers from the 2008 Agricultural Debt Waiver and Debt Relief Scheme (“2008 waiver”). The Indian government provided banks with Rs 60,000 crore reimbursement over three years in the midst of the global financial crisis. This allowed them to recover otherwise unrecoverable non-performing agricultural loans, many of which had been given out to meet the priority sector lending requirement but had gone bad because of, inter alia, the risks inherent in agriculture.[1][1][1][1]Yet, the 2008 waiver did not benefit small and marginal farmers greatly, as they relied more on informal sources of credit like moneylenders, landlords or relatives. A 2005 report by the NSSO on farmer indebtedness based on 2003 data showed that only 23% of farmers with ownership holdings of land less than 0.01 hectares had access to formal credit, and this figure rose to 58% for farmers with ownership holdings of land between 1-2 hectares.[2][2][2][2]More recently, the 2017 NABARD All India Rural Financial Inclusion Survey reported that 40% of loans continue to be taken from. Respondents cited ease of availability, no stringent timelines for repayment, no documentation formalities required, lower or no interest expected, and faith in families and friends as reasons why they preferred to take loans from non-institutional sources.[3][3][3][3]Secondly, the criteria used to limit the beneficiaries of 2008 waiver did not adequately consider the socioeconomic reality of farmers. Under the 2008 waiver, 100% of the overdues owed to small and marginal farmers in “ownership” of “up to 2 hectares of land”, and 25% of the overdues of larger farmers were waived.[4][4][4][4]Banks generally require land title as a guarantee, which meant that sharecroppers, tenant farmers and labourers who did not own land were excluded. On a related note, critics have pointed out that the land ownership requirement means that landlords are more well positioned to benefit from a loan waiver than the sharecroppers who actually cultivate the land.[5][5][5][5] Sharecropping agreements involve the landlord permitting the sharecropper to farm on a parcel of land in exchange for a portion of the crop.[6][6][6][6]Consequently, sharecroppers often have to borrow money from moneylenders to invest in their crop so that they give their dues to the landlord. However, as they do not own the land, they fall outside the purview of loan waivers. To tackle this issue, the Indian government responded by rolling out another scheme, “Bhoomi Heen Kisan” in 2014 to provide Rs. 8 lakh crores credit support ( basically, more loans!) to 5 lakh joint farming groups.[7][7][7][7]Agricultural land in rural India is often jointly held[8][8][8][8]by family members and more likely to exceed 2 hectares. Similarly, some farmers may have larger holdings, not because they are richer but because their land is less productive. For example, an opinion piece published in The Hindu[9][9][9][9] shed light on how in Vidharba, the average landholding size is 3.03 hectares, and up to 50 per cent of Vidharba’s farmers were above the two-hectare criterion for the 100% waiver. This was not because they were big landlords but because their land was less productive. By contrast, the farmers of Western Maharashtra with smaller, well-irrigated and more productive holdings who were better off in most regards, were more likely to meet the two-hectare criterion and therefore stood to gain more from the waiver.If that weren’t bad enough, it is not inconceivable that corrupt bank officials will ensure that only a fraction of the allocated money reaches the already limited pool of loan waiver beneficiaries. In a survey on the IRDP loan program implemented in 1980, 67% of the beneficiary respondents reported that they had paid a bribe for the loan to be sanctioned.[10][10][10][10]Thirdly, loan waivers encourage a bad credit culture that hurts both banks and farmers. Honest farmers are penalized for repaying their loans on time when defaulters get their loans waived. Some of them who realize this may decide to go rogue and willingly default so that they can avail themselves of the waiver and save money. This “borrower moral hazard” was documented in working paper by the World Bank on the 2008 waiver, which noted that borrowers in high-bailout districts started defaulting in large numbers after all the non-performing loans in these districts had been written off.[11][11][11][11] Not long ago, announcements of farm loan waivers in 2017 by some states led HDFC Bank’s NPA ratio to rise to 1.24% for the June quarter from 1.05% in the previous quarter. More than half of the increase in bad loans was from its agriculture portfolio.[12][12][12][12]Finally, loan waivers worsen the fiscal positions of the state and leave less money for investments in infrastructure like roads, electricity and irrigation systems which could help farmers more in the long-run. According to a recent article published in December 2018 by the Hindustan Times, the newly formed Congress governments in Madhya Pradesh, Rajasthan and Chhattisgarh may not have adequate fiscal space or funds left to implement other poll promises in the current financial year after announcing farm loan waivers.[13][13][13][13] Pressure to provide loan waivers is mounting in other states as well – In Odisha, Chief Minister Naveen Patnaik criticized the opposition political parties who demanded a waiver, saying that it would make the State Government bankrupt.[14][14][14][14]To conclude, the farm loan waiver looks like a negative-sum game for everyone involved and does little to meaningfully improve the lives of farmers – why should anyone (except the leaders scoring brownie points during the elections) be happy about it?Footnotes[1] The economic effects of India’s farm loan bailout: business as usual?[1] The economic effects of India’s farm loan bailout: business as usual?[1] The economic effects of India’s farm loan bailout: business as usual?[1] The economic effects of India’s farm loan bailout: business as usual?[2] India’s Agricultural Debt Waiver Scheme, 2008[2] India’s Agricultural Debt Waiver Scheme, 2008[2] India’s Agricultural Debt Waiver Scheme, 2008[2] India’s Agricultural Debt Waiver Scheme, 2008[3] https://www.nabard.org/auth/writereaddata/tender/1608180417NABARD-Repo-16_Web_P.pdf [3] https://www.nabard.org/auth/writereaddata/tender/1608180417NABARD-Repo-16_Web_P.pdf [3] https://www.nabard.org/auth/writereaddata/tender/1608180417NABARD-Repo-16_Web_P.pdf [3] https://www.nabard.org/auth/writereaddata/tender/1608180417NABARD-Repo-16_Web_P.pdf [4] Page on thehindubusinessline.com[4] Page on thehindubusinessline.com[4] Page on thehindubusinessline.com[4] Page on thehindubusinessline.com[5] https://economictimes.indiatimes.com/blogs/cursor/farmers-need-remunerative-prices-not-debt-waiver-to-end-rural-distress/ [5] https://economictimes.indiatimes.com/blogs/cursor/farmers-need-remunerative-prices-not-debt-waiver-to-end-rural-distress/ [5] https://economictimes.indiatimes.com/blogs/cursor/farmers-need-remunerative-prices-not-debt-waiver-to-end-rural-distress/ [5] https://economictimes.indiatimes.com/blogs/cursor/farmers-need-remunerative-prices-not-debt-waiver-to-end-rural-distress/ [6] http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.378.8225&rep=rep1&type=pdf [6] http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.378.8225&rep=rep1&type=pdf [6] http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.378.8225&rep=rep1&type=pdf [6] http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.378.8225&rep=rep1&type=pdf [7] Finance to 5 Lakh Joint Farming Groups of “Bhoomi Heen Kisan” through Nabard in the Current Financial Year[7] Finance to 5 Lakh Joint Farming Groups of “Bhoomi Heen Kisan” through Nabard in the Current Financial Year[7] Finance to 5 Lakh Joint Farming Groups of “Bhoomi Heen Kisan” through Nabard in the Current Financial Year[7] Finance to 5 Lakh Joint Farming Groups of “Bhoomi Heen Kisan” through Nabard in the Current Financial Year[8] https://www.indiaagronet.com/indiaagronet/agri_economics/CONTENTS/Land%20Tenure.htm [8] https://www.indiaagronet.com/indiaagronet/agri_economics/CONTENTS/Land%20Tenure.htm [8] https://www.indiaagronet.com/indiaagronet/agri_economics/CONTENTS/Land%20Tenure.htm [8] https://www.indiaagronet.com/indiaagronet/agri_economics/CONTENTS/Land%20Tenure.htm [9] https://www.thehindu.com/todays-paper/tp-opinion/Oh-What-a-lovely-waiver/article15181680.ece [9] https://www.thehindu.com/todays-paper/tp-opinion/Oh-What-a-lovely-waiver/article15181680.ece [9] https://www.thehindu.com/todays-paper/tp-opinion/Oh-What-a-lovely-waiver/article15181680.ece [9] https://www.thehindu.com/todays-paper/tp-opinion/Oh-What-a-lovely-waiver/article15181680.ece [10] http://shodhganga.inflibnet.ac.in/bitstream/10603/187194/14/14_chapter%208.pdf [10] http://shodhganga.inflibnet.ac.in/bitstream/10603/187194/14/14_chapter%208.pdf [10] http://shodhganga.inflibnet.ac.in/bitstream/10603/187194/14/14_chapter%208.pdf [10] http://shodhganga.inflibnet.ac.in/bitstream/10603/187194/14/14_chapter%208.pdf [11] The economic effects of India’s farm loan bailout: business as usual?[11] The economic effects of India’s farm loan bailout: business as usual?[11] The economic effects of India’s farm loan bailout: business as usual?[11] The economic effects of India’s farm loan bailout: business as usual?[12] https://www.livemint.com/Money/8oTRtiFqkk1pMdHhnZ6wNI/HDFC-Banks-impeccable-asset-quality-gets-a-farm-loan-waiver.html [12] https://www.livemint.com/Money/8oTRtiFqkk1pMdHhnZ6wNI/HDFC-Banks-impeccable-asset-quality-gets-a-farm-loan-waiver.html [12] https://www.livemint.com/Money/8oTRtiFqkk1pMdHhnZ6wNI/HDFC-Banks-impeccable-asset-quality-gets-a-farm-loan-waiver.html [12] https://www.livemint.com/Money/8oTRtiFqkk1pMdHhnZ6wNI/HDFC-Banks-impeccable-asset-quality-gets-a-farm-loan-waiver.html [13] https://www.hindustantimes.com/india-news/after-waivers-fund-crunch-for-3-states/story-GdRlDNbVxo6aAVLPkFMHzO.html [13] https://www.hindustantimes.com/india-news/after-waivers-fund-crunch-for-3-states/story-GdRlDNbVxo6aAVLPkFMHzO.html [13] https://www.hindustantimes.com/india-news/after-waivers-fund-crunch-for-3-states/story-GdRlDNbVxo6aAVLPkFMHzO.html [13] https://www.hindustantimes.com/india-news/after-waivers-fund-crunch-for-3-states/story-GdRlDNbVxo6aAVLPkFMHzO.html [14] http://www.newindianexpress.com/states/odisha/2018/dec/22/loan-waiver-will-make-state-bankrupt-cm-1915059.html [14] http://www.newindianexpress.com/states/odisha/2018/dec/22/loan-waiver-will-make-state-bankrupt-cm-1915059.html [14] http://www.newindianexpress.com/states/odisha/2018/dec/22/loan-waiver-will-make-state-bankrupt-cm-1915059.html [14] http://www.newindianexpress.com/states/odisha/2018/dec/22/loan-waiver-will-make-state-bankrupt-cm-1915059.html

Please tell me which gun show will allow me to avoid a background check because of the gun show loophole. I will be first in line to buy some of those guns the government cannot trace back to me. I have been to several gun shows and the ones I have been to have not allowed me to use the gun show loophole to buy without a background check.I did stop going to gun shows a few years ago. I made the mistake of taking my tech savvy son with me. He brought this high tech device called a smart phone. Every time he saw a knife he was interested in (he collects knives which are common at gun shows) he pulled out his phone, tapped on it a few times then put it away and said dad, forget it.I was confused because he knows his dad is an old softy and he is my only child. I have told him many times, if I cannot spoil him from time to time, then why do I have a son? He certainly has caused me more than a few sleepless nights and a few heart stopping scares (like waking up in the morning on vacation in the middle of nowhere to him having a seizure—his mother and I were scared shitless and he did not remember a thing. We had to drive him 10 miles on a 4wd road to a ranger station then wait 30 minutes for an EMT and then he and his mother went for a 2 hour ambulance ride while I went back, got what was needed, locked up, then took off after the ambulance). It is moments like those that scare the hell out of parents and kids just come to and say what happened just as the ambulance gets to the hospital. When nothing can be found he said, well I got you, you should treat me better. He had two more on the 4 hour drive home only to discover that the neurologist cannot figure out why. At college it happened one more time and we get called in the middle of the night to inform us he is in the hospital so we drive like hell for two hours and stay for two days and again nobody knows why.Parents understand this. My son is smart. He knows how much I was willing to spend and he was going to maximize his returns. He learned everything that was supposed to be cheaper at the gun show, was not. He could get it cheaper off the Internet. He also learned some of the stuff being sold were cheap knockoffs. He had fun informing the show promotors and showing them how he knew and then watching the booths get shut down and items confiscated.I wanted to show him what I knew about guns and started pointing out good deals. I was wrong, cheaper and better on the Internet.He was right, why pay for parking, entrance, overpriced food and drinks to buy overpriced goods that might be fakes. We decided it was better to use that time at the gun range.So, I had heard about the Internet loophole, buying guns without background checks. So I finally found a few guns at really great prices and went through the process to buy them. Damn, foiled again, background check time. It was all and good, I pass background checks because I actually have a super clean background and when I worked as a science researcher I had top secret clearance, not because I was working on a top secret project, but because I worked in a building where top secret projects were being worked on at the University I worked at and I needed it to gain access to use the equipment needed for my mundane research project. The building had a small nuclear reactor in it and nobody could go it with out top secret clearance because the people in charge of those decisions thought it was a good idea.Why is the gun show loophole a myth? First, the GCA of 1968 only applies to people who buy guns from a Federal Firearms Licensee (FFL). These are people in the business of selling firearms. With the passage of the Brady act and the mandatory background checks (NICS or national instant criminal check system) all gun sales through a FFL requires a background check. The Federal law does not apply to sales between private parties. So, I have a used gun that I no longer want and I decide to sell it and find a buyer willing to buy it for an agreed on price, he gives me the money and I give him the gun. Under Federal law that is legalUnderstand, the Feds really cannot mandate that the states do much of anything. Federal power is limited. So how does the Federal government get states to go along? Money!!Now, the Feds control the Federal licensing system for firearms dealers because they can involve themselves in anything that is involved in Interstate commerce, even if it does not actually get sold across state lines. It just has to have the potential to be sold or eventually be moved across state lines. People buy guns and then decide later to move to a different state and take their guns with them. That is Interstate commerce. So the can control how FFLs conduct business and require them to do background checks.The feds cannot mandate that private parties conduct background checks. They are not licensed and by definition not in the firearms business. People also cannot be prevented from selling a legal item they own at a later time if they decide for what ever reason they no longer wish to own it. As long as they do not do it regularly enough to meet the definition of being in the business of selling firearms, the feds cannot interfere.Now, the states have the power to mandate their own laws, as long as they are not unconstitutional. So states can mandate background checks for private party sales. Some states do.I live in CA which has mandated this for probably over 20 years (a long time and I am not going to look up the date). So, if I want to sell a gun to another private party, we both have to go to a FFL. The buyer pays a fee mandated by the state and the state conducts the background check. CA does things differently because, well they are CA and just have to complicate matters. This is the state where laws rarely make sense and anyone who tries to make any sense of them will go crazy.CA does not trust the Federal NICS check. I also think they do not trust the FFLs. So the FFLs cannot run the background check like they do in the rest of the country. Nope, they collect all the information and send it to the CA DOJ so their people can run the background checks. CA does not want to share their information with the Feds either, which creates another problem (I will explain later). So CA runs the NICS check, and then searches all of their databases. I once knew how many, but I have since forgotten. It is more than one. The CA database are very incomplete because the county court systems rarely enter the information the DOJ requires, they are underfunded and barely have enough money to keep the courts running at a minimal level. So if you have been arrested, you will not be approved because if no charges were filed, nothing else was entered. The DOJ though demands a disposition be entered, they want to know what happened, were charges dismissed, did it go to trial, what was the result etc. They want to make sure nobody falls through the cracks.So when that happens, the buy has to spend about a year and a few hundred to a few thousand dollars to hunt down everything, get all the records in order, and often this means someone has to personally walk the paperwork to each person who needs to sign off. A lawyer does it much faster but it is costlier.Try to get this done for an arrest 40 years ago when records were not computerized and stored in the courthouse basement.You are guilty until you prove you are innocent. Have the same name as criminal, you will get delayed every time even if you go through the process to get a unique ID number to differentiate yourself from the criminal. With that ID number sometimes you are approved, sometimes delayed, and sometimes denied. You have a better chance of just reapplying again than going through the paperwork and effort to fix it. The odds are better you will get approved faster this way than trying to clear it up again. It always seems the DOJ loses the paperwork or forgets to enter it in their computer system. Keep copies of everything. If you use an attorney the first time, it is faster, a call from the attorney often speeds things up to light speed because at that point their is a real threat with the real documents to back up legal action resulting in a fine and the attorney being compensated by the state rather than by his client. Attorneys cost but it is money worth spending if you need to repeat the same script with the state.Under federal law, only FFLs can use the NICS system. Bloomberg’s group learned the hard way when they pushed Question 1 on Nevada which was to include background checks for private parties. It passed but it could not be implemented and was tossed by the NV Supreme court because it was an impossible regulation. Question 1 required private parties to go to a FFL to conduct the NICS. It was the only way to get enough voters to buy into it. If the state had to set up a system, it would be too costly and require taxpayer money which was a deal killer.The problem was the feds made it clear, FFLs could not access the system for non-FFLs. I believe it was due to privacy issues, accessing personal information about another person. The two private parties might get personal information about each other that could be used for criminal purposes (ID theft) in the future. If a background check is to be conducted for private sales, it has to be done by the state or one of its agencies. I believe for Oregon, it is done through the State Police.As for the weakness with CA, they do not share their information with the Feds. So if someone from CA moves out of state they just might be able to pass a NICS background check because CA withheld information about a conviction for a felony, a DV situation, or even a mental health involuntary hold. Us gun people in CA call these people CA prohibited people. They just have to move to another state and they can legally buy guns because CA will not share their information. CA also has some laws that disqualify people from owning guns that other states do not have. So again if you want a gun and this applies, move to another state. There are many reasons to move and people in this position usually are at the point of screw CA I’m leaving. They do and when they get to the border they take a selfie at the welcome to CA sign flipping the bird or mooning the state. I knew a few who stood on the other side and threw a few high capacity magazines back into the state in front of CA Highway Patrol officers just for laughs and then drove off. They were not in CA and the state was not going to waste the time and effort to arrest them. The CHP officers usually do not even collect the magazines, someone else picks them up.I have attended gun shows in NV. What I have found, every show requires every buyer to go through a NICS background check, even if it is between two private parties. Why? Because every gun show close to CA has undercover ATF agents, undercover CA DOJ agents that have been federally deputized so they can make arrests out of state and are free to conduct investigations out of state and do not need to inform the locals about their presence. They rarely make arrests, they wait for the CA resident to return to CA, it avoids the whole state extradition process. Besides, if they are violating federal law, they take the evidence and hand it over to the ATF agent at the show. The federal penalty for a CA resident buying out of state is 10 years, while the best CA can do it a couple of years for illegally importing guns without going through a CA FFL first.CA will sue the gun show promoter if they find any cause to do so, and have done so even with very little cause. The CA government has the taxpayer money backing them and will go all out because really, it is not their money. The promoter cannot afford to fight so caves quickly. The promotor could be 100% in the right, but it will cost him a few million up front to take that gamble and after a multi-year fight and the long appeals process the state will force if they lose, he might win and might get some attorneys fees but will be out of business and bankrupt. So he settles fast. One settles and most all the others institute the same policies to avoid the same legal battles, it is not worth it.Every sale goes through a background check, mostly to ensure no sales to CA residents. Many promotors require ID to buy larger than 10 round mags. They do not want to have any DA or the DOJ claiming they sell large capacity magazines to CA residents that will end up back in CA. This is BS, because the sales are legal in NV, it is importation into CA that is illegal. Many of us have friends and family in NV. Many who compete in the various gun competitions have storage places or do training in NV part of the year to store the CA banned items that they can legally own, just not possess in CA. So ID is at times required. Some sellers will not sell, others have you sign a paper to acknowledge importing into CA is illegal. Others just pretend to look at the ID and sell anyway.I forgot to mention, we have our own tattle tale in CA, Dr. Garen Wintemute. He teaches at the UC Med Center in Sacramento. He perfected using student interns to secretly videotape Californians buying illegal to own in CA or even illegally buying guns in NV and AZ gun shows. He has his own state funded research center now, The Violence Prevention Research Center Welcome to the Violence Prevention Research ProgramHe is so well known that his picture is posted at every gun show in NV as a person that is not allowed in. He will be forcibly ejected for trespassing. He had himself filmed while this was happening a few times to use for propaganda. The Gun show people got smart and started swarming his camera crew and separated him from them. They had restraining orders against him so brought him to the back and out of camera view he would have some accidents. When handed over to the police, he would have a few more accidents on the way to jail. He decided the pain from the accidents was not worth the publicity and the cops and judges were not sympathetic to him. He walked onto private property in a state that allowed reasonable force to be used to stop a trespasser and evict him after he had been served a restraining order. Every person in his camera crew was served restraining orders which went onto their records and messed up their ability to get scholarships and federal money. A few had some federally banned drugs on them so that just added to their problems, loss of all federal college aid money.Now, I want to point out a misdirection in the CSGV “fact sheet” that is in the link provided under the question.Part way down is this tidbit, “The Gun Control Act of 1968 requires anyone engaged in the business of selling guns to have a Federal Firearms License (FFL) and keep a record of their sales. However, this law does not cover all gun sellers. If a supplier is selling from his or her private collection and the principal objective is not to make a profit, the seller is not “engaged in the business” and is not required to have a license. Because they are unlicensed, these sellers are not required to keep records of sales and are not required to perform background checks on potential buyers, even those prohibited from purchasing guns by the Gun Control Act. The gun show loophole refers to the fact that prohibited purchasers can avoid required background checks by seeking out these unlicensed sellers at gun shows.”The part I bolded is the misdirection. I do have a FFL03 otherwise known as a C&R. This is often referred to as the gun collectors license. People who have these are not true FFLs, they are not in the business of buying and selling guns for a profit. They are the gun collectors. The C&R stands for curio and relics. These are defined as guns that are 50 years or older as well as other that have value as collectors pieces and are listed as such by the ATF. So there are guns newer than 50 years old that are C&R, but they are determined on a case by case basis by the ATF. These are not standard guns people buy at the gun stores and many of these are rather expensive. These are not the ones criminals are out to buy.What is nice about the FFL03, is I can by a C&R gun out of state. It is illegal for me to buy a modern gun outside of my state of residence unless I have that gun sent to a FFL in my state and then go through the background check. Since it has to go through an FFL under federal law, a background check has to be done. If I find a gun on the Internet from an out-of-state private seller, to be legal, the seller has to send it to an FFL in my state. This is done quite a bit these days. The majority of these private sellers are unwilling to sell the gun illegally and if asked to do so, even for a few hundred dollars more will turn you down and likely report you to the admin of the gun selling forum. They do not want to end up with a 10 year federal prison sentence. The ATF does monitor and does have undercover people offer to buy for extra money if the background check can be skipped. It is not worth it. Also, any buyer willing to sell without going through proper channels is either a scammer that will disappear with your money and not deliver the gun, an ATF undercover operation, or a bad guy that wants to meet in a dark ally where you will lose your money and much more and be lucky to leave with your life. This is not worth it.So this part “selling from his or her private collection and the principal objective is not to make a profit, the seller is not “engaged in the business” “ is the exact wording to describe how the AFT determines if a FFL03 needs to get a real FFL (FFL01) license to sell guns from his or her collection or can do it with just their FFL03. There comes a time when age catches up to us and it is time to sell the collection. Several years ago a bunch of old guys in FL were busted because they each had their own FFL03 but were working together as a group to buy and sell C&R guns out of a warehouse and were making a decent profit from it to supplement their SS income. When I mean decent enough, they were making more money than they had at their jobs before retirement and claimed since it was not a business they also did not have to pay taxes. They lost so many ways and ended up spending the rest of their retirement years in a Club Fed resort.I obtained my FFL03 around this time and I got the letter from the ATF making it very clear, I could buy and sell but only for the purposes of the collection and not to engage in a business. So if they discovered I was buying and selling a couple hundred of guns a month for several months, they will take a much closer look, otherwise, enjoy your new hobby.When someone got ahold of a copy of my FFL03 and tried to use it illegally to buy, the ATF agents actually did not treat me as a criminal. They looked over my books, realized I could not have done the buying as I had a job and was present at the job while the guns were being bought 1500 miles away. They helped me get a new license with a new number and all was good. It was determined that the copy was stolen from the records of the last FFL I had purchased from just before he had a heart attack. He specialized in restoring and repairing WWII rifles and then selling them. Someone broke into shop because the local police had not secured it as instructed by the local FBI. They were using various FFL03 they had found to buy C&R guns because the ATF does not have a system to instantly verify them like they do FFL01. He used the guys credit from hacking into his computer system.I can go to a gun show and buy a C&R gun without a background check because I have a federal license that allows me to do so. I can do this in any state. Because of my state’s laws, when I return, I have to register them with the state. I also have to record the guns I acquire using my FFL03 into my own bound book and record when I dispose of them and to whom just like a regular FFL01.So, on many of the undercover gun shows buys of buying without a background check, some of them are because the buyer has a federal license that allows them to buy without a background check and that is just overlooked because it does not sell the narrative.Other times, it is just Joe Blow selling a few guns he has because he no longer needs them or he has unexpected expenses he needs to pay and needs the money. It is legal, it is between two private parties. Many times these same sales happen in the parking lot of Walmarts because they are everywhere and they have cameras so if anything goes wrong, there will be a video for the police. I know of guys in free states that conduct the transaction at the local police station parking lots and nobody gives it a second though, including the police officers that are present.Criminals do not go to gun shows to buy their guns. That is where the ATF is, the police are, anti-gun people are filming everything. That is a lie perpetuated by the MSN and anti-gun groups.Criminals have someone who is not prohibited buy their guns, the straw purchaser. The person selling rarely knows this is the case. How can I know the person buying, who is legally able to buy, will go home and hand the gun over to a relative, friend, or whoever that is prohibited. I am not a mind reader. You might say, well, if a couple comes in and the guy does all the talking and they women buys and does the background check, it is a straw purchase. Go to a local gun range. At mine, on any given day it is very close to 50/50% women and men. I have teen girls who compete in local shooting competitions and they are good. I have shot with them at my local gun range and they put my skills to shame. I can hit what I aim for, I am confident enough for SD but these young ladies come extremely close to 10 bullets in one ragged hole with either a pistol or rifle.Some women take their husbands or BF with them to avoid the still male centric world of gun buying. Some men insist on buying for their women. I wish they would not. I know of many women who are very capable of buying their own guns.Criminals do not buy their guns at gun shows, at least the smart ones. It is only the stupid people that try. I have watched a few dumb people try. People from CA trying to buy at a NV gun show or even a NV gun shop and then getting upset because they can legally buy guns, WTF does being from CA have to do with anything. Their only crime is being stupid.So if you can find a gun show where I can use the loophole to buy a bunch of guns to stash away incase the government goes full retard and wants to take my guns. I could offer up the ones they know about and still rest peacefully knowing I have my guns and am no longer on their hit list. I can now join the resistance as a double agent. The feds think I am clean while at the same time I am working against them. That would be so cool, a real double agent fighting for gun rights. This is the thing that gives the progressive-liberals nightmares because the politicians do know, they can do their best to ban all guns and gun crime will not drop, it will increase. They just use that mantra to get reelected and keep the donations rolling in from those that are scared about guns. The problem is, the gun control crowd support is a mile wide and an inch deep. They do not put up their own money, they have two very rich supporters backing them. If that money dried up overnight, their activist groups would fall apart in days because they would have no money to keep up the fight.Us gun people though, we vote at the ballot box at a much higher percentage than the non-gun people do and we support our cause with our own money.Most do not realize that a large portion of money collected for buying land for wildlife and other conservation activities comes from a federal tax on guns, ammo, and other outdoor equipment and supplies bought by gun people, hunters, fishermen, boaters, and such. This was a self-imposed tax at our request decades ago to preserve wild and open spaces for recreation. If our money was not available for this, these lands would not be available today.In CA, this past year, a budget report noted that the sales of hunting and fishing licenses have sharply declined over the past 10 years. The new background checks for ammo purchases will greatly cut into the money available for conservation efforts because gun and ammo sales are expected to drop sharply. They know people will buy out of state and import back illegally and the state cannot stop that. It is an infraction if caught and to enforce it, a LEO has to personally witness the purchase out of state, then follow the person back to CA before a citation can be issued and it is legally equivalent to a speeding ticket. It is not happening. The law was written with so many exceptions to allow for non-residents to bring ammo into the state legally because the law would be struck down if these were not there. The feds can only control interstate transportation. They did such a terrible job of it that by reading the letter of the law, if my wife and I were out of state, and I bought ammo and then gave it to her, she could legally bring it back into the state without having to bring it to a FFL for a background check.Family members can send ammo to relatives into the state (only certain relationships) without background checks. The rules for significant others is so loose, we have to be politically correct in this state, that you could easily have a partner send you the ammo into the state legally. So, hey, you can be my intimate partner today, and I will get a new one tomorrow. Nobody is going to check the bedroom and besides relationships are whatever we define them to be.You know who is starting to get upset over this realization, the progressive liberals, especially the LGBT because it is exploiting their cause for violence. The more conservatives do not care, what ever you want fine, we will play your game and still get our ammo. We also win because now we do not have to pay sales tax to this state and we get to help starve the beast.I get to use the FFL03 loophole. I can bring ammo into the state without a background check because the law allows it. The ATF has seen a huge spike recently in the number of FFL03 applications from CA. So sell the reasonable gun control laws fiction, FFL03 who also pass a state yearly background check and get something called a COE are exempt from several gun laws because we are the law abiding gun owners.Our previous Attorney General and now US Senator, camel toe harris did not like this several years ago and tried to reinterpret the meaning of the law and said it did not mean what it said. The CA Supreme Court just ruled that was an illegal interpretation and the laws mean exactly what they say. The legislature is very capable of writing laws to mean what they say and if they can’t do that, it is their problem, that is their job and they have the Attorney General and hundreds of attorneys working for the state to assist with that.So, all of us law abiding gun owners can now go through 2 more background checks that will again prove that no matter how many background checks we go through in a day, 1 or 100, we are still not criminals so just leave us alone and go after the real criminals that you keep releasing from prison because you waste money fighting against the rights of the law abiding citizens that could be used to actually take the real criminals off the streets and do something that will reduce violence.