Think the Major Banks are not worried in North America regarding Cyprus? Read and judge for yourself

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posted on Mar, 23 2013 @ 07:58 PM
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reply to post by Bedlam
 

This is nuts, but things could be worse no?

At least here in Canada for now as in this moment it is not illegal to carry 10k with you but I hold my breath and pray this does not escalate to the situation in the USA.

Mind you we are no better off than yourselves at the moment as in cash is going to set off alarm bells and no way to tell who's bells you are ringing.

Regards, Iwinder




posted on Mar, 23 2013 @ 08:09 PM
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All i can say is Fractional reserve banking means just that...they have only a fraction of the depositors money on hand at any time...



posted on Mar, 23 2013 @ 08:50 PM
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reply to post by Iwinder
 


It's not illegal in the US to have 10,000 cash on you.
It just gives police the right to question you as to where you got it.
They can actually do that for almost any large amount of cash, even 1,000.
You have to have a good reason for the source and why you are carrying it, and be able to back it up.
Or else they can confiscate it, under the premise that it must have a nefarious source, such as drugs or some other crime.

If you happen to have any kind of drugs on you, and are carrying a large sum of cash, you can forget about even trying to get the cash back.

You also must report any bank cash withdrawals over 10,000 to the IRS.
edit on 3/23/13 by BlueAjah because: (no reason given)



posted on Mar, 23 2013 @ 09:05 PM
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Originally posted by BlueAjah
reply to post by Iwinder
 


It's not illegal in the US to have 10,000 cash on you.
It just gives police the right to question you as to where you got it.
They can actually do that for almost any large amount of cash, even 1,000.
You have to have a good reason for the source and why you are carrying it, and be able to back it up.
Or else they can confiscate it, under the premise that it must have a nefarious source, such as drugs or some other crime.

If you happen to have any kind of drugs on you, and are carrying a large sum of cash, you can forget about even trying to get the cash back.

You also must report any bank cash withdrawals over 10,000 to the IRS.
edit on 3/23/13 by BlueAjah because: (no reason given)


Thanks very much for the information, it was all foreign to us here but it gives a good picture of what is going on in the money world.

Makes us think a bit, a thousand dollars does not buy much now but it might tag you as guilty if you cannot prove why you are in possession of said monies.

I guess old George was correct in is book then.

Regards, Iwinder



posted on Mar, 23 2013 @ 11:38 PM
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I keep a large amount of cash and large amount in the bank. Your money wherever it is is not safe. Especially these days with the possibility of hyper inflation and financial collapse. Government steals your money every year. Cops will steal it blah blah If its in bank or in hand its the same robbery.



posted on Mar, 24 2013 @ 12:43 AM
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An easier way to take out cash is to do it every time you go shopping. Use eftos and when they ask would you like cash just say yes and take out the maximum they will do. Easy, no questions and after a few visits to supermarkets, paying for fuel and every other place you go to you will take out quite a bit without leaving much of a trace.

If you have to tell a bank why you want it just tell them that the Casino beckons. Watch their face!

P



posted on Mar, 24 2013 @ 12:49 AM
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A lot of people have a hard time understanding dollars are not worth one "dollar" just because it says so on the paper itself. I had a friend that used to think he was safe because he cashed his check every week and took the money home. In a time like this it's better to roll what you can over to greener pastures elsewhere. Assets, metals, whatever will hold its value when the dollar wont.



posted on Mar, 24 2013 @ 01:06 AM
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Hell, I went to my bank and took out 1k, got asked a bunch of questions. Noticed they were recording everything, I guess I will have to take out funds in smaller amounts.



posted on Mar, 24 2013 @ 01:12 AM
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The smart people in Greece and Spain are buying bitcoins.
They're rocketing up in value and the government can't touch them. Anonymous, safe and decentralised.
Crypto currency is the future.



posted on Mar, 24 2013 @ 07:34 AM
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Originally posted by Iwinder
Next the wife had to provide 3 forms of ID with a photograph, answer 8 to 10 questions which were very personal. They asked these questions to verify her identity as if 3 pieces of ID with photos were not enough.


Can i just say OP, that someone could have broken into your house and stolen several forms of ID? I mean, it is called identity theft and is very real in this day and age.
My bank asks me many personal questions as well as my ID when dealing with my account information, that a 15k withdrawal would only make this procedure seem absolutely necessary.

I'm actually sort of glad that my bank does this. And when it's helping you remove your cash from an unstable environment, does it really matter? They are essentially holding the gun here.


Originally posted by Iwinder
Next the said she had to sign a Waiver to absolve the bank of any Liability if she were to be robbed of the cash on the way home!

why would you find this unnecessary? Not having this could pave the way for fraud and is just the bank's way of protecting itself. Your wife may not blame the bank, but there are a lot of stupid people in this world.

With regards to the rest of your post, i absolutely agree. They know full well of what they are doing. Giving you your cash serves them no purpose. Essentially they are treating it like their money. That is what is so corrupt about the entire banking system.

They are just every day people holding your cash for you. It's no different to letting your mate hold your cash for you, and as this corrupt system is slowly catching up, it is not one bit safer than your mate's house.

Good thing your wife knew the ins and outs, and just as well you were able to take it in the end - which is why i asked those questions above... does it really matter? you've at least taken it from their hands.



posted on Mar, 24 2013 @ 08:08 AM
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We don't get interrogated in the UK if you carry a lot of cash. Sounds bonkers to me.



posted on Mar, 24 2013 @ 08:47 AM
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Originally posted by pheonix358
An easier way to take out cash is to do it every time you go shopping. Use eftos and when they ask would you like cash just say yes and take out the maximum they will do. Easy, no questions and after a few visits to supermarkets, paying for fuel and every other place you go to you will take out quite a bit without leaving much of a trace.

If you have to tell a bank why you want it just tell them that the Casino beckons. Watch their face!

P


That is a great idea, and I hope many here take the time to read your post.
On your last sentence thanks very much for the belly laugh.:-)
Regards, Iwinder



posted on Mar, 24 2013 @ 09:05 AM
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Originally posted by Iwinder

Why is cash a crime now?



Because cash is used by criminals and terrorists and money launderers. Because cash transactions are untrackable.

Try buying a new car with cash these days. You have sign all these forms and provide all sorts of ID, just in case you may be a terrorist planning to use the car to blow something up.

At any rate, if the banks crash and the economy fails spectacularly, the cash will be just as worthless as the virtual money sitting in the bank. If having it under your mattress gives you a false sense of security, fine, whatever. You'll be using it later as toilet paper because that's all it will be worth.



posted on Mar, 24 2013 @ 09:08 AM
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Originally posted by BlueAjah
reply to post by Iwinder
 


It's not illegal in the US to have 10,000 cash on you.
It just gives police the right to question you as to where you got it.
They can actually do that for almost any large amount of cash, even 1,000.
You have to have a good reason for the source and why you are carrying it, and be able to back it up.
Or else they can confiscate it, under the premise that it must have a nefarious source, such as drugs or some other crime.

If you happen to have any kind of drugs on you, and are carrying a large sum of cash, you can forget about even trying to get the cash back.

You also must report any bank cash withdrawals over 10,000 to the IRS.
edit on 3/23/13 by BlueAjah because: (no reason given)

Most everything you wrote here is incorrect. The police cannot take your money. They can hold it if they happen to arrest or detain you because of a suspected crime. You would then have to show what the source of the cash was. The amount that is reported for withdrawal is $9500. The bank is responsible for reporting it. The would not leave that up to the depositor. Who would report it?



posted on Mar, 24 2013 @ 09:39 AM
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reply to post by xxdaniel21
 

I will try and explain to why the ID and questions were bothersome, We Phoned this bank on Monday to inform them of a money transfer of 10k to our account and we were going to pick it up on Saturday.
We gave them all the details over the phone, and in return we were given a time to pick up the funds on Saturday.

The three pieces of photo ID were not really a problem, the problem started with the 8-10 questions that were very personal.
As I mentioned in the OP they know exactly what we are worth and who we are.

Then questioning the wife as to why she would want to take out the funds.....the bank only had "our" money transfer for 3 days but did not want to see it go out the door.

This to us was stonewalling and the above took about 15 minutes.





I'm actually sort of glad that my bank does this. And when it's helping you remove your cash from an unstable environment, does it really matter? They are essentially holding the gun here.



Well it did matter to us but you are correct as in they certainly were holding the gun..


As to the issue of having to sign a Waiver to absolve the bank of any Liability if she were to be robbed of the cash on the way home!

Well that was a first for us and yes we have taken out that much cash before and have never had this asked of us before.
They took almost 15 minutes to find the form and left my wife there to hopefully stew over the idea of getting bonked on the noggin, and therefore change her mind and leave without the funds.

Once the form was filled out (10 minutes) they actually got down to business and started counting the money.

All this after they made the appointment for us and were fully aware of when and why we would be there.

All said and done it was quite the hassle for getting a stack of plastic hundreds not even half and inch thick.

I guess as you say it was unavoidable and maybe so today, but it sure was not like the above a few years ago when we waltzed in for a larger sum in cash to buy a truck.

That visit took about 5 minutes total, no questions, no forms, no waivers, just counted the cash out in front of us and have a nice day.

I hope that helps explain why we were ticked off with our recent visit.

Thanks for adding your thoughts and asking questions.

Much appreciated,
regards, Iwinder



posted on Mar, 24 2013 @ 09:50 AM
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Originally posted by sheba2011

Originally posted by Iwinder

Why is cash a crime now?



Because cash is used by criminals and terrorists and money launderers. Because cash transactions are untrackable.

Try buying a new car with cash these days. You have sign all these forms and provide all sorts of ID, just in case you may be a terrorist planning to use the car to blow something up.

At any rate, if the banks crash and the economy fails spectacularly, the cash will be just as worthless as the virtual money sitting in the bank. If having it under your mattress gives you a false sense of security, fine, whatever. You'll be using it later as toilet paper because that's all it will be worth.


We did purchase a truck a few years ago and the deal was about 80% cash on the counter at the dealership, no problem and no forms to fill out. But we are in Canada so perhaps different rules here.


On the worthless cash angle you presented you could be right, however at least we are trying, Take a look at Cyprus right now this minute.
There are people worth a lot of money who cannot even buy food as I type this.
If they only had a mattress stuffed things would be good for them and their families.

Both our parents lived through the great depression and they all said the same thing to us.......If they had access to their cash they would have lived like kings....

Many many people thrived during that time only because they had their "Mattress" stuffed and they were unaffected by the mess around them.

Thanks for the input.

Regards, Iwinder



posted on Mar, 24 2013 @ 10:08 AM
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Credit Unions are far safer - Join one if you can. The Bernanke styled ZJ's do not have total access there. I have been in one for over forty years. If things get really hot I will also have more of a chance to secure the funds than will those whose monies will be in "deep freeze" on account of the so-called "banksters" - be very wary too because "bankers" for whom the blame is placed is merely a euphemism for who and what they really represent, i.e., a cabala cabal.
edit on 24-3-2013 by POXUSA because: txt



posted on Mar, 24 2013 @ 10:15 AM
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At any rate, if the banks crash and the economy fails spectacularly, the cash will be just as worthless as the virtual money sitting in the bank. If having it under your mattress gives you a false sense of security, fine, whatever. You'll be using it later as toilet paper because that's all it will be worth.


You jump to the most extreme to try and make a point. The issue is long before the ultimate collapse, when you still need cash, the likelihood exists this will be controlled and even shut down for periods of time (like Cyprus or any natural disaster).



posted on Mar, 24 2013 @ 10:29 AM
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Originally posted by Bilk22

Originally posted by BlueAjah
reply to post by Iwinder
 


It's not illegal in the US to have 10,000 cash on you.
It just gives police the right to question you as to where you got it.
They can actually do that for almost any large amount of cash, even 1,000.
You have to have a good reason for the source and why you are carrying it, and be able to back it up.
Or else they can confiscate it, under the premise that it must have a nefarious source, such as drugs or some other crime.

If you happen to have any kind of drugs on you, and are carrying a large sum of cash, you can forget about even trying to get the cash back.

You also must report any bank cash withdrawals over 10,000 to the IRS.
edit on 3/23/13 by BlueAjah because: (no reason given)

Most everything you wrote here is incorrect. The police cannot take your money. They can hold it if they happen to arrest or detain you because of a suspected crime. You would then have to show what the source of the cash was. The amount that is reported for withdrawal is $9500. The bank is responsible for reporting it. The would not leave that up to the depositor. Who would report it?


Just having the cash can prompt law enforcement to investigate if a crime exists. If they suspect there might be a crime, they can take it.

I suppose it is better to provide some backup for this:

www.npr.org...

And check this out:
www.thenewspaper.com...
Even the Supreme Court did not give a guy his money back, although he was not charged with a crime.
Their argument: "Possession of a large sum of cash is 'strong evidence' of a connection to drug activity."

If the person can prove that the cash was not crime related, they can file a civil suit to give it back, if law enforcement will not give it back voluntarily.

More documentation:
forfeiturereform.com...

Sheriff Thornton would seem accurate in claiming that they can seize and/or investigate ”[a]ny amount of money that’s over $8,000 or $9,000″ because that is exactly what they (like so many other law enforcement departments) are doing.


Police can actually confiscate your car, your computer, and anything else they believe was used in a crime. They can even seize your car for drunk driving. Then if convicted, they keep the seized assets. That is a criminal forfeiture. However, cash is different in that even carrying a large sum can result in questioning and seizure.

That said, there is a different type of seizure that is "civil" and not "criminal":
www.law.cornell.edu...

Unlike criminal forfeiture, civil forfeiture proceeds against the property, not the person. In theory, civil actions are remedial, not punitive like criminal proceedings. By acting civilly, the government seeks to remedy a harm, through the fiction of the property's "guilt."


A criminal charge or conviction is not required to seize.


Unless provided in statute (as in 18 U.S.C. §981(a)(2)), innocence of the owner is typically not a defense.


This is the official IRS rule on cash transactions:
www.irs.gov...
$10,000 is pretty much the magic number for reporting cash transactions to the IRS
edit on 3/24/13 by BlueAjah because: (no reason given)
edit on 3/24/13 by BlueAjah because: spellig



posted on Mar, 24 2013 @ 10:39 AM
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reply to post by BlueAjah
 


The crux of your post serves to indicate the state of the ongoing corruption (total and complete) of not merely the legal/monetary system(s), but the entire American way of life based on the Constitution and Bill of Rights - The "cabalistic (cannibalistic actually) cabal" to which I earlier referred (above) has completely saturated what was once known as America. What are your options? On the earthly material level - NONE. What can you deduce from that conclusion? Only you can say. "I" know the answer, but are you willing to listen to a faithful well informed Catholic? Ha Ha Ha - a sno-balls chance in Hell - right?

I've said it many times before right here on ATS - to deaf ears btw - that America (hence the world) is not facing a "banking" crisis - its facing a spiritual crisis the only way out from which is to get on your knees. If you can't see yourselves to that then at least get down on one knee. Christ understands your plight


In closing - for a clue into what's happening ask yourselves this, and NOT in a rhetorical way -

"who Madoff with the money"?

edit on 24-3-2013 by POXUSA because: txt





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