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Thread: Most Of Us Already Know This...but

  1. #1

    Default Most Of Us Already Know This...but

    This was not a surprise. I went to the bank this morning to withdraw a considerable amount of cash money. I ask for $100 bills, US. I was ask what the money was for and I said it's confidential. Bank officer apologized and said the Gov. has a regulation that they ask and that they have to report to the Gov. any large cash amount withdraws. I said, no problem as i'm not laundering money...LOL Anyway, long story, short, it will be a week before the money is available for pickup in bundles of $10,000 each and they will notify me by phone.

    So, just a reminder to you all, that banks do not keep your money on hand for large amount withdraws...and I know the majority of you already know this. So, it might be prudent to keep this in mind.
    Stacking since the late 1970's

  2. #2

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    That is why it is better to stack cash on an ongoing basis. Stack it just like you do silver, gold, guns and ammo + Preps.

  3. #3

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    I pulled out 20k this morning from my local bank of America branch. 10k in 100's, 8k in 50's, and 2k in 20's. They don't ask me what it's for but then again they know I'm a degenerate gambler and it's not uncommon to pull out money to play in my 5/10 or 25/50 pot limit Omaha game.

  4. #4

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    Daily withdrawl limits coming soon. Take it out now while you still can.

  5. #5

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    Quote Originally Posted by Hombre Plata View Post
    Daily withdrawl limits coming soon. Take it out now while you still can.
    Yeah, the thought crossed my mind...better safe than sorry. Just my thoughts, but to each his own.
    Stacking since the late 1970's

  6. #6

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    Have multiple accounts across different banks and visit several branches, pulling smaller amounts out at time (> $10k) from each.
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  7. #7
    Join Date
    Mar 2011
    Posts
    3,191

    Default

    Quote Originally Posted by The Sage View Post
    Have multiple accounts across different banks and visit several branches, pulling smaller amounts out at time (> $10k) from each.
    My safe has no such reporting requirement or limitation (other than its capacity of course). Same for ammo withdrawals.

  8. #8

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    Quote Originally Posted by nergal View Post
    My safe has no such reporting requirement or limitation (other than its capacity of course). Same for ammo withdrawals.
    Haha, I concur...

  9. #9

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    Wow. For now, I plan on doing maybe 3 more $500 withdrawals, because my cash is down nearer to zero from the previous $5 or $10,000 I had 7 years ago.

    I will probably leave most in the bank for paying the bills should I become unemployed.

    I suppose I don't believe "this is it". The United States has show a great degree of resilience the last 10 years, even with the government debts increasing.

    I believe it is an economic train wreck that will take time to recover from. Whether it's 6-12 months for 3-10 years, I don't know.
    I suspect the worst case is 1.47 million American deaths, plus some degree of permanent lung damage.
    At 10 times the death of seasonal flu (37,000 to 80,000 deaths) that would be 370,000 to 800,000 deaths.
    Some say 10 times is the minimum number of deaths.

    We will have to see if this social distancing lock down is successful or not.
    Legal Disclaimer: I am not a doctor, nor do I play one on TV.

    "It's tough to make predictions, especially about the future." -- Yogi Berra
    A variant of this has also been attributed to physicist Niels Bohr, and others.

    "Tis against some menís principle to pay interest, and seems against othersí interest to pay the principal." -- Benjamin Franklin

    The School of Hard Knocks is where you get the lesson after you fail the test.

    Book title: "The Best Way to Rob a Bank Is to Own One"

  10. #10

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    Substantial withdrawal today because I thought might be a good idea to have some cash on hand.

    No issues whatsoever, immediate stacks of $100's and no questions asked. Sounds like the OP may want to consider changing banks.
    Buy Low Sell High

    Keeping it simple with the Eagles, Maples and Krugs....

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