# Withdrawing money from a bank .... limit...



## mldollins (Jun 21, 2008)

I was reading in another forum survivalistsboard.com that a man was limited to pulling out 900 in cash of his own money even though he had several accounts totaling 100 grand. While I do understand pulling out large sums say in thousands since banks are not full of cash, it seems odd that 900 would be a limit. This is quite troublesome....


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## palani (Jun 12, 2005)

Even more so when you figure that cops figure amounts over $500 in possession are due to drug trades and subject to seizure. People who have had cash seized frequently do not see it returned.


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## DaleK (Sep 23, 2004)

Teller or ATM? I'm thinking he was talking ATM. Most banks have a fairly low limit on ATM withdrawals in case of fraud or stolen cards. Teller withdrawals are usually higher, although they might require a day or two of notice in case of larger amounts. Then you get the transaction reporting requirements for larger transactions as well, and so on.

I've gotten as much as $10,000 cash through a teller with no prior notice but my ATM limit is $1000/day.


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## blooba (Feb 9, 2010)

Some ATM limits are $300-$500 although I believe it is $13,000 that sets off red flags for the IRS so be careful.


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## ldc (Oct 11, 2006)

Here at a credit union, the limit at the ATM is $200/day. If you need thousands (my case was to pay cash for a car), you must let them know in advance. ldc


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## Harry Chickpea (Dec 19, 2008)

It really depends on the bank and situation. When I was managing theatres, I'd have coin orders of over a few thousand bucks. BTW, cases of quarters are really heavy.


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## 7thswan (Nov 18, 2008)

I tryed to pull out all our $ on 9-11, never knew before that that there was a limit. Wounder if it's diffrent limits at credit unions.


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## TheMartianChick (May 26, 2009)

The limits are set by the individual banks. At one point, we pulled out $7000 to pay for a used vehicle. The teller gave my husband a lecture because he had not notified them ahead of time. She explained that the banks have to "order up" cash in order to have enough on hand to conduct business with. I'd imagine that credit unions have an even more stringent guideline for this. Additionally, any really large withdrawals require a government form to be filled out. They ask what your intention is for the money, which seems pretty invasive since it is YOUR money! We haven't had to pull any larger sums of cash out of the bank since that time, but I think the rule was anything over $10,000 required a filled out form about your intentions.


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## beaglebiz (Aug 5, 2008)

I have taken out ten or eleven thousand to buy vehicles with no problems, more than once


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## Mike in Ohio (Oct 29, 2002)

I took money out of a bank because they were paying .5% interest to exsiting customers and 2% to new customers (for 90 days) for money market accounts.

When they asked me how I wanted the check made out I said I wanted cash. She said she couldn't make out the check to cash. I said I wanted cash. She told me she couldn't give me cash until the following week. I told her that if they weren't going to give me my moeny then I was going home and posting on the internet that they wouldn't give me my money. She immediately changed her tune.

When she came back with the money she had another fellow and counted it out in the open (where everyone could see) and then had me sign a form that they weren't responsible if I was robbed. I said I wasn't worried as my BIL was sitting in the vehicle and he has a CCW permit. We were only driving down the road to another bank.

When they asked me what I was doing with the money I told them I was moving it somewhere else that paid more interest. She asked me where and I told her none of her business.

I figure if the government wants to match up the withdrawal from that bank and the deposit to the other bank they should be able to figure it out.

Mike


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## mpillow (Jan 24, 2003)

Banks can be difficult....I just move the money to checking when I'm playing the interest rate game and moving savings...
Other times I will just insist that I pay with a personal check or you don't get my business(vehicle purchase) ..if they want to call the bank to check fine with me...but I always try to use my credit card first as my points give me cash back...the credit card pays more %back than a bank acct. these days!


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## texican (Oct 4, 2003)

I'd be a finding a new bank if they got mad over a 7K withdrawal!


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## texastami (Sep 13, 2002)

My future DIL is currently banking with a credit union.... (one I have never heard of) She received her income tax return ($3G+ direct deposited) and then only had a $500 daily use limit on her account using her debit card and ATM... I told her that was NUTS but she said thats what they do and its been that way for a long time.......

No way would I let someone tell me HOW much of MY money I could spend in a day!!!


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## blooba (Feb 9, 2010)

You can usually call or visit the bank to get the daily limit raised for the day if you have a big purchase.


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## mldollins (Jun 21, 2008)

DW deposited our tax refund check which was around 3 grand as well. The bank would deposit it in our account but would not allow her to draw a penny on it for several days. I guess banks don't trust the gov't. Oh, this was US Bank.


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## chuckie (Feb 4, 2010)

Mike in Ohio said:


> I took money out of a bank because they were paying .5% interest to exsiting customers and 2% to new customers (for 90 days) for money market accounts.
> 
> When they asked me how I wanted the check made out I said I wanted cash. She said she couldn't make out the check to cash. I said I wanted cash. She told me she couldn't give me cash until the following week. I told her that if they weren't going to give me my moeny then I was going home and posting on the internet that they wouldn't give me my money. She immediately changed her tune.
> 
> ...


Good for you! I just pulled 1,500.00 the other day, not a prob, but if things get any shakier on the bank front, I'll be pulling it all.


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## chuckie (Feb 4, 2010)

texican said:


> I'd be a finding a new bank if they got mad over a 7K withdrawal!


I second that.


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## edcopp (Oct 9, 2004)

We should all withdraw all our money and keep it at home. The banks do not have enough cash to meet that demand, not now not ever. Think about that.


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## wyld thang (Nov 16, 2005)

I remember reading somewhere about there being a limit to the amount of cash you can take out of the country too.


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## blooba (Feb 9, 2010)

wyld thang said:


> I remember reading somewhere about there being a limit to the amount of cash you can take out of the country too.


Yep, $10,000 is the limit without declaring although some countries require you to declare anything above $3,000


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## Roadking (Oct 8, 2009)

From our local news; apparently, I-380 and I-84 are the new routes to NYC for drugs. The last line says a lot. Emphasis is mine.
"I-380 traffic stop leads to currency 
April 06, 2010 State police seized $17,182 Monday afternoon from a car driven by Curtis Odel King, 28, of Binghamton, N.Y., on Interstate 380 South in Tunkhannock Township.

At 4 p.m. Monday, state police stopped King's 1994 Lexus Sedan for a moving traffic violation and found "_numerous criminal indicators_." Police brought in a dog who searched the car and found the money.

_*The money was seized *and King later was released_."



http://www.poconorecord.com/apps/pbcs.dll/article?AID=/20100406/NEWS/100409900


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## blooba (Feb 9, 2010)

Roadking said:


> Police brought in a dog who searched the car and found the money.


Money sniffing dogs? I want a few please. How do I train mine to do that?


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## texican (Oct 4, 2003)

You have to be careful (well, doh!) if you take out ALL of your money... and get caught... tptb have decided anyone with large amounts of cash is up to no good, and will confiscate (read: steal) the cash. I see it regularly in our small county. The State of Texas vs. 8900$.... as if "8900$" is a person.

If some entity took that much cash from me, I think I'd have to get it back, or a lot of satisfaction. I don't believe in 'pre-emptive' laws... keeping people from getting themselves into trouble. I'll take my chances, thank you... I'm a grown up, and don't need some far-off nanny to take care of me.


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## calliemoonbeam (Aug 7, 2007)

I don't have a checking or savings account, but my pay goes onto a debit card. Most store ATMs have a $200 limit, and I've found a few bank ATMs that have a $600 limit per day. I think that's ridiculous! The only place I've found where I can get more cash than that is QuikTrip store ATMs. They have a $1,000 limit, but only per withdrawal. I can make as many withdrawals as I want, as long as I have the money to cover them. At least I think I can, the most I've ever done in one day is $4,000, lol. But then I had to pay four ATM charges, which wasn't great, but at least I could get the money. 

I had so many bad experiences with banks I just don't want to use them any more, but since I'm self-employed and my pay is not a regular payroll check I couldn't find anyone to cash them, so the debit card deposit was the best solution I could find. The only charges I have are a $1.50 monthly fee and $1.50 ATM fee each time I use it, oh and a 50 cent fee if I check my balance at the ATM, but I never do that. I can check it online as often as I want for free. I do worry about the economy crashing and not being able to get my money out, but I keep some cash at home and just hope for the best. :shrug:


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## radiofish (Mar 30, 2007)

I looked at the thread this morning before I went down the hill to town. 

I had to pay a major bill, so I went to my checking account bank (Chase) and withdrew two thousand dollars ($2,000.00) in cash. 
Swiped my card, entered my pin, and signed my name.
The only question that I was asked by the teller was, "how would you like it?" 
I chose to receive it in the form of twenty $100 dollar bills. No muss, no fuss at all....

Apparently some merchants will still accept cold hard cash, and may even give a few percent discount on the total amount due, for paying in greenbacks!


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## whodunit (Mar 29, 2004)

I drove to another town 70 miles away to look at a car for sale and ended up wanting it.

The seller wanted a cashier's check or cash, so we made arrangements for us to come back in a few days to complete the transaction. I wrote him a personal check to hold the car.

DW and I decided we didn't want to wait and make a return trip, so we began looking at ways to pay the seller.

My credit union DOES NOT belong to cooperative group of credit unions and there was no branch in the town.

They told me that they would be willing to walk over a check to one of the local banks and deposit it into the seller's account if he had one at any of them. Nope, he didn't.

I was at Walmart and found they sell money orders and would do so using my debit card, BUT I would have to buy four since they limit them to $1000 a piece. It sounded like they were going to only charge me once which was nice. 

I suspected the large transaction would trigger some kind of security precaution, so I called my credit union. I was right. They had to raise my "point of sale" limit to cover the amount.

I called the seller. Nope, he did not want money orders and insisted on a cashier's check.

Could I purchase the money orders and make them out to myself and cash them right there at Walmart? Yes, Walmart would cash them, but there was a 24 hour wait! 

Finally, another credit union there at Walmart said I MIGHT be able to get a cash advance on my debit card. They told me THEY would not charge me a fee, but my credit union might. They called for me and my credit union said there would be no fee involved. They tried it and viola, I had my cash. 

This all took close to an hour.

I learned at least three things: Walmart gets bad rap, credit unions are the way to go, and the federal government is sticking its nose into too many places.


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## hoggie (Feb 11, 2007)

slight drift here, but I was told at work this morning that banks are planning to get rid of cheques in the next couple of years (3 or 4 was mentioned I think but I may ahve that wrong).

Did anyone else know this, it means that everything will have to be either electronic or cash.

As a rule I always try to do as much as possible by cash, only resorting to plastic if I am ordering online or by phone. But somehow this gave me a shiver. I know cheques are traceable, but surely plastic/electronic transactions are "instantly" trackable if that makes any sense. Fels a bit big brotherish to me.

I first got the spooks about stuff like this when my brother went on holiday. It was a very different holiday to what they normally take - normally outdoor/sport holiday and this one was city/casino holiday. His card was declined and he had to wait till he got home after the weekend to sort it out. 

They declined it as it wasn't what he usually used his card for!!! Ever since then I have used almost exclusively cash. Just call me paranoid. Luckily I dont' have enough money to worry about drawing large sums from the bank


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## TheMartianChick (May 26, 2009)

texican said:


> I'd be a finding a new bank if they got mad over a 7K withdrawal!



We did!


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## anniew (Dec 12, 2002)

Roadking,
Wanted to mention that where I am which has Interstate 81 coming off of 380/84, they've stopped several with large sums of cash with the same criminal indicators mentioned in their press releases. If I remember correctly, the amounts were around $10,000 each in cash. They bring in the drug sniffing dogs to verify that the money had "drug" dealings. In one case, the money was returned as not being drug money.
BUT, in the meantime, the guy has been charged and fingerprinted, and now probably has a rap sheet. If not, he is still in the newspapers as having been charged.
Another note: all these people were stopped for motor vehicle violations...why are people who are doing something illegal so stupid as to get caught for some stupid motor vehicle violation. Duh!


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## blooba (Feb 9, 2010)

hoggie said:


> slight drift here, but I was told at work this morning that banks are planning to get rid of cheques in the next couple of years (3 or 4 was mentioned I think but I may ahve that wrong).
> 
> Did anyone else know this, it means that everything will have to be either electronic or cash.
> 
> ...


Actually as it is now it is almost impossible to get a actual paper copy of your check in the US. http://www.federalreserve.gov/pubs/checkconv/

The Federal Reserve has empowered The National Automated Clearing House Association (NACHA) www.nacha.org/ and Clearing House Interbank Payments System (CHIPS) www.chips.org to process checks(both private companies) in conjunction with FEDWIRE http://www.frbservices.org/fedwire/index.html. All of which is done electronically.

Most banks charge to get paper copies of checks back and usually they are only a scanned image and not the actual check.


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## ||Downhome|| (Jan 12, 2009)

Mike in Ohio said:


> I took money out of a bank because they were paying .5% interest to exsiting customers and 2% to new customers (for 90 days) for money market accounts.
> 
> When they asked me how I wanted the check made out I said I wanted cash. She said she couldn't make out the check to cash. I said I wanted cash. She told me she couldn't give me cash until the following week. I told her that if they weren't going to give me my moeny then I was going home and posting on the internet that they wouldn't give me my money. She immediately changed her tune.
> 
> ...



you could of just did a money transfer.


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## Gary in ohio (May 11, 2002)

Depends on how much you want to remove. Most banking offices dont have that much cash on hand. If you stop by and want $200k in cash you will most likely have to wait a day or so for them to get that much. They may also suggest a check for that much. Anything over $10K will be report to the feds, not that stops you from getting your money, but it will be done. Many banks have policies and automated systems that alert them to "odd" withdraws. You come in once a week and get $100, now you want $5000 or a business that only deposit $2000/day now is depositing $20K.

If your moving large amounts of money between banks, many banks will just offer wire transfers so NO ON has to deal with handling lots of cash or carrying around a check worth lots of money.

If in doubt about getting access to your money ask for the manager. If he says he cant, find out if its a bank policy or a LAW that you cant. If its a bank policy then close you account and request your money.


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## Betho (Dec 27, 2006)

This thread has been an interesting perspective for sure. I work at a good size credit union and I get calls every single day from people who need to withdraw more than their limit.

We have the limits in place NOT to limit people's access to their money, but to limit fraud. Maybe it's just because I see so many horrible fraudulent things that happen to people, I might have a different perspective. But I can tell you this - not one of our members who had ATM fraud on their accounts were upset that we had those limits in place. Most of them are quite grateful because it means their cash wasn't completely cleaned out. That is the sole purpose for us placing those limits - so if your ATM card gets skimmed and some punk ends up with your card# and pin, they can only take out the limit and not the entire $20k or whatever you happen to have.

If someone calls me and they are buying a car or need cash to pay rent or want to buy furniture, etc, I have absolutely no problem doing a temporary increase for them. it's THEIR money. The only time I ask questions is if they want to withdraw $7000 from the ATM - then we have a little chat about not making yourself a target. Most ATMs are not physically capable of handling more than about $3-500 in cash in any transaction, so having to withdraw large sums of cash from the ATM means you are standing at the ATM for a very very long time. That will get you noticed, and not in a good way. Yes, sometimes there are other options like cash advances (I believe the FI that performs the cash advance is not permitted to charge a fee but I could be wrong) or an official/cashier's check.

OH and just for what it's worth, financial institutions legally HAVE to make at least $100 of your deposit available immediately on any given day. So if you do make a large deposit and they hold ALL of that, they are operating illegally by doing so. Now of course if your account is already negative, then that $100 will go toward getting the account brought back into the black, but otherwise you should always have that at the very LEAST.


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## mldollins (Jun 21, 2008)

I am sure that banks don't carry 100,000 or more at one time....I could be wrong...

But, what if....there becomes a run on banks and you had several thousand dollars. It is doubtful they would give you all of that. Banks are not equipped to handle runs. And if I am a betting man, I have a gut feeling that my point will be proven in 2010.

As I stated earlier, we had a massive storm in southern Illinois that knocked the power out and cash was king. I knew people who had only 25 bucks and credit cards and debits.... Guess what, 25 bucks had to do for them for a week.


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## GoldenCityMuse (Apr 15, 2009)

This where precious metals are handy. $1000 in cash is not even an ounce of gold.


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## farmergirl (Aug 2, 2005)

GoldenCityMuse said:


> This where precious metals are handy. $1000 in cash is not even an ounce of gold.


An ounce of gold wouldn't do me much good if we had a total loss of power in my part of the country for several days or even a week, as the above poster did. Don't know of any merchants that will accept gold as payment for basic goods.


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## Ernie (Jul 22, 2007)

Try buying a can of beans with an ounce of gold. Going to shave off a slice? Going to carry scales around so anyone you're trading with knows they aren't being cheated?

I'm not a fan of precious metals. They're great for government currency, and certainly better than fiat money, but other than that it looks like just one big hassle.


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## GoldenCityMuse (Apr 15, 2009)

And you won't buy a can of beans for $50 FRN either. And you say, "but there are smaller denominations of FRN's" Precisely, there are smaller denominations of PM's too.

Personally, 90% silver dimes are just about right, worth ~ $1.30 right now. That should be good for 2 cans of green beans, maybe 3 cans on sale. And dimes are easy to carry too.

The point is you won't be using the gold for small purchases any more than you would buy a candy bar with a $100 bill. Please use reason in your replies, folk.

If I'd been smart, I would have invested in circulated US gold pieces in the $2.50, $5, $10 & $20 about 10 years ago. [quarter eagle, half eagle, eagle, and double eagle respectively] Ah well.....


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## hoggie (Feb 11, 2007)

The problem I can see with the metals, is that all parties have to agree on the value of them.

If you bring me your silver coin, which you say is worth $1.30 and try to buy my goods. And I perceive the value of that silver coin to be only face value, or 75c or whatever I happen to think it is, then we have no way to trade. 

The metal only has a value as long as we agree on it's value.

hoggie


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## GoldenCityMuse (Apr 15, 2009)

Aye Hoggie, that is the rub. But then, is it that much different than the change in value of the pound in reference to the amount of petrol it will buy? It does not really mean that the true value of the petrol has risen 15p/litre, but that the worth of the currency has dropped the equivalent. Whereas if you had US 90% silver coinage [dated 1964 & earlier], to sell to the pawn shop/scrap metal dealer, you would see that you can do better.

We are dealing with inflation , that is the problem these days. And precious metals are one method of preparing to handle inflation, or to put it another way, the debasement of the currency.

Anyway, silver prices are found daily at multiple places online, priced in USD/oz, Euro/oz, GBP/oz, etc.
http://www.kitcosilver.com/ is the one I use the most.


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## Sarabeth (Sep 14, 2008)

I have to agree with the problem of metals. I think it's great to have some, but Hoggie is right - everyone has to agree on the value. Sure, while most of us here have a sense that a silver dime is worth MORE than 10 cents, really - how many people out in the world know that? I am pretty sure I could show a silver dime or quarter to everyone I know, and maybe 5 would realize that it is silver, and then, they probably wouldn't agree on the value.

I guess after a while, if we really were down to no paper currency, it might change, but in the immediate, I just don't know. Of course, being a prepper, I would be ok for a while without the grocery store. 

Something to think about anyway,


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## hoggie (Feb 11, 2007)

GoldenCityMuse said:


> Aye Hoggie, that is the rub. But then, is it that much different than the change in value of the pound in reference to the amount of petrol it will buy? It does not really mean that the true value of the petrol has risen 15p/litre, but that the worth of the currency has dropped the equivalent. Whereas if you had US 90% silver coinage [dated 1964 & earlier], to sell to the pawn shop/scrap metal dealer, you would see that you can do better.
> 
> We are dealing with inflation , that is the problem these days. And precious metals are one method of preparing to handle inflation, or to put it another way, the debasement of the currency.
> 
> ...


I see a couple of differences.

Firstly, if yo uknow that a litre of fuel is 1.20, an dyou know that you have 5.00 in your pocket, you still konw exactly how much buying power you have. And that makes no difference whether the price goes up/down/does somersaults. The seller puts hi sprice out ther efo ryou to see, and you know how much you can buy. I fyou walk up to a buyer who normally deals in "normal" currency and offer him a coin, he has no way of knowing what the coin is worth so you will not get the value of that coin as you perceive it.

In a true doomsday situation, then maybe metals have a barter value as owuld amunition,seeds sewing needles or whatever.

But if we are talking everyday emergencies, then a seller isn't going to be set up for that sort of trading. Also, if the power is out and people are unable to get to their money in the bank, they also will be unable to look up the value of metal on the internet?

just thinking 

hoggie


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## GoldenCityMuse (Apr 15, 2009)

I still disagree, but that is fine. My last comment is that the fiat money gives the _Illusion_ of exactness, but as inflation increases it's pace, you will see much more rapid changes in the prices of goods, even though it is an easy number.

Precious metals hold a consistent store or measure of value, much more so than paper money. The US is not used to having a black market currency exchange like many countries, but I am afraid we are closer than most realize.

So, to sum it up, it would be wise to convert the highly variable savings denominated in USD into something much more stable. Tangibles, tangibles.

Of course, your best plan is to pay off ALL debt, including mortgage, first.


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## edcopp (Oct 9, 2004)

There is a lot to be said for a strongbox and a double barrel shotgun, both under the exclusive control of the owner.:lookout:


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## sgl42 (Jan 20, 2004)

in argentina, the banks closed for a few days, the currency was immediately devalued by 50-80%, and then after reopening the banks currency withdrawals from the banks were limited to small amounts each day/month during a time of high inflation when bank interest rates were very low. the net effect was to steal the savings of the people for the benefit of the gov't and the banks. (similar things happened in zimbabwe.)

the benefit of gold/silver is that it can't be devalued like fiat currency can be, altho it can be confiscated or made illegal to own. 

in the event of high inflation, you'll want to spend any money you have as quickly as possible, because it will only lose money. at the same time, people will be often unwilling to give up anything tangible for paper, so stores will be more empty. there's stories of the german hyperinflation of german housewives buying a dozen pots and pans, not because they needed any more, but because it was the only tangible good available that might hold it's value at a time when workers were being paid twice a day, and would immediately rush to the factory fence to hand the money to their wife to spend it before it became worthless. prices were changing by the hour if not faster. your employer is not likely to be paying you in gold or silver at that time.

so, gold and silver are to preserve your purchasing power until the storm blows over, or to bribe your way out of the country, or to make a major purchase such as a house or farm or business or maybe a car during the storm. you won't be using it for everyday purchases very likely.

it's very hard to run a business if prices are changing rapidly. so, in high-inflation times, businesses will establish some stable index, or use the price of gold as the stable index, even if they don't require payment in gold. eg, i've read that in brazil during high inflation, an inflation index that someone computed was published in the newspaper every day. so the business then sets their prices and computes their profits in this index value, and whenever a purchase or sale is made, they use the daily conversion value to determine how many pesos it is that day.

i've read that in vietnam recently, prices were being quoted in gold, and they would take the local currency (the dong i believe it's called) but would convert dong to gold at that days price. otherwise, in inflationary times, you have no way to determine if you really made a profit reselling your widgets, and if you don't make enough you have no capital to replenish your inventory and you're out of business.

the point is, there's a lot of misconceptions on this thread about precious metals and what they can do, and how you think they'd be used. if your purpose is survival or emergency preparedness, might be worth looking at history and seeing how they're likely to come into play. might also be worth asking why gold has been valued for 5,000 years, instead of presuming that since you haven't used it in your little corner of the world in your short little life, that somehow the experiences of the rest of humanity in the rest of the world don't apply to you. 

--sgl


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## GoldenCityMuse (Apr 15, 2009)

Great explanation sgl, thanks for expanding.


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## michiganfarmer (Oct 15, 2005)

hoggie said:


> slight drift here, but I was told at work this morning that banks are planning to get rid of cheques in the next couple of years (3 or 4 was mentioned I think but I may ahve that wrong).
> 
> Did anyone else know this, it means that everything will have to be either electronic or cash.
> 
> ...


I dont understand why you are concerned. Arent you progessive? This is exactly what progressive governments do. Id think you would be very happy that you are being protected.


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