Savings Accounts

[Numis Pam]

I have posted this before. This is the best "safe-deposit box" made. Under a 24x24 flagstone in the yard, with a bird bath on top. Put 10% of your holdings in it. Measure 25 feet in some direction from it, bury another one with the rest. If cash (FRN's) are involved, seal them in a mylar bag.

PVCPipeSafe.jpg

+1 Awesome idea Zoo!

[Z00]

Oh, I forgot, coat the threads of the screw out plug heavily with petroleum jelly to help keep moisture out.

[mtldealer]

Another thought occured to me. Early in my days of sorting I was ramping up and one day, every bank I stopped at where they said "Do you have an account with us?" I said not yet, sign me up, so I could open my pick up branch oppertunities a bit. All at seperate banks, not branches.

I believe it was the 5th one that thunder struck on. After some clickety clicks on the ole comp-u-tater, I was told I could not open one and would have to wait. ...I had opened too many account in too small a time frame.

Those multiple branch withdrawls would probably get you flagged on a suspicious activity report.

This is very true. Everything instantaneous these days.

[johnbrickner]

<snip>And yes, I do realize that those stocks I 'own' in my brokerage account aren't mine either.

What the heck do we own?

<snip>

According to David Wolman in The End of Money People think money is a free good, and that they should have access to cash and correct change anywhere and always. They take for granted that there are enough notes and coins available wherever they go without thinking about how that works. We forget that this isn't just a service of the commercial bank or the company that owns the ATM. It's also a service paid for by the government supplying the notes in the first place.

If you are talking about the national currency, the government is your money. If the government truly kept its hands off your money, you'd definitely be left with none!

Almost taken word-for-word from The end of Money.

The long and short of it is, It's not your money to begin with! It's your faith that the value of the time and effort you put into getting that piece of paper will be preserved and made available back to you by the government. No such promise of/or any part of it is given. It's just a piece of paper owned by the government that made it. That's it.

[Morsecode]

Suspicious Activity Report

Let's see now...I stop at 12 branches in the same rotation with small amounts of coin twice a week for the last couple years. What plausibly innocent reason would someone have for transacting at a bank 96 times a month?

I probably got them scratching their heads trying to make me -

...maybe he's laundering coins for the Mexican cartel...

[Morsecode]

The large PVC tubes work well for firearms, too. I buried an old lever action on my lot in Nova Scotia so I wouldn't have to worry about the back & forth border nonsense. Course, I ended up selling the property without having retrieved the thing, but I expect to get back there again in the future

[fansubs_ca]

Anyhow, one of his co-writers, Steve Sjuggeruud wrote a piece last week that he went into his bank and requested $15,000 in cash as a withdrawal. He was told he could get $2000 that day but would have to request the rest and would get it in 5 days. In other words, he was being denied access to HIS money. Chilling.

Basically banks don't expect people to come in and pull huge amounts at once so it's an
"inventory on site" issue, thus the number of days notice wanted so they have time to
bring it in from a central vault (or the Fed/Bank of Canada/other central bank if needed).
Most large payments are done by check/draft or some form of electronic transfer so
they really don't see large withdrawls very often. (Unless you are a rock or sports star
you probably don't spend that much at merchants that only accept cash on a routine
basis, those guys know how much notice they need to give their bank because they
do it all the time. ^_-)

I myself don't have enough money that I run into a problem with it but I can see where
it becomes an issue for people with more money than me.

If I wanted more than $1000 cash I'd try to plan it out so I'm not hitting the bank too
suddenly for too much at once. Also I deal with a bank and a credit union so I can get
a bit out of each if I need a larger amount. I suppose if you have a _huge_ amount of
money and think you might at times want large withdrawls for whatever reason it would
be a good idea to spread your money amoungst several banks/credit unions so you
don't have to make too large of a withdrawl at each.

I had a few times I was going on a trip and planned to buy silver from a dealer in the
city I was going to so since I knew a month ahead I pulled out money for the trip at
different times in the month leading up to it so I wasn't yanking a huge amount from
one place at one time. (Also avoiding attention from other customers in the bank
that would notice me taking out a large withdrawl so I reduced robbery risk as well.)

That said there are plenty of reasons to keep some cash where you can more readily
get at it.