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originally posted by: litterbaux
a reply to: 38181
Try to go into the bank and withdraw 5k in cash.
I'll bet they will tell you they don't have it on hand and need to order it, come back in 3 days. This happened to me, I was buying a used car and the guy said cash only. Luckily he was cool and held it for me for the 3 days. Not only that, the bank was trying to get me to use a cashiers check and I told them the guy wanted cash only. They seemed ticked off like I was taking the money out of their pocket.
What if you come back in 3 days and they tell you it's going to be another 3 days, then another 3 days ect ect. Then you go back one day and the bank is closed.
originally posted by: litterbaux
originally posted by: AndyFromMichigan
I wouldn't worry about the $250k limit too much. (Although if you have that much money, you're a fool if you keep it all in one bank.)
If they really are planning for bail-ins, they'll probably replace your savings with treasury bonds that won't mature for 30 years. Or something similarly evil that gives those responsible plenty of time to walk away from the wreckage they create.
Actually I heard a rumor the plan is to issue bank shares. If they are taking your money to keep them above water who the heck would want shares in that bank.
This is why I can see them doing it.
originally posted by: 38181
a reply to: panoz77
Wouldn’t this cause people to get scared pulling cash out and hiding it under their beds?
People with an excess of 250k should know how to move it around, after all they didn’t make that type of money being stupid. And the government knows that so what’s their next move?