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Originally posted by mblahnikluver
I recently had to withdraw $6000 for a car and they tried to tell me they didn't have the funds!!
I looked at her and said you will give me $6k in cash or we will have some serious problems. I told her you are a bank and you HAVE money. I was amazed at how they tried to keep me from getting my own darn money! They wanted me to invest and open up multiple accounts. I told her I knew her game and wanted no part of it and I wanted my cash..
After about 20mins they gave it to me. I looked at her and said "was that so hard."
I had that cash for about 15mins then it went to the dealership where I bought my car!
Since when does a bank have the right to tell me I can't have my own money and that they don't have that much cash on hand. I mean please! i use to work for First Union, I know they have plenty of cash on hand!
I know a few other people who recently withdrew high dollar amounts and were told similar stories of "we don't have that much cash." It's like they don't want you to have CASH. They want everything electronic.
I prefer to have cash but then again if the dollar crashes the dollar won't be worth crap...
Sucks either way.
Originally posted by tide88
No offense people, but if the dollar collapses, which it won't, gold would be worthless too.
If gold is priced at $1600 an ounce, and each of those dollars are worth nothing, gold would basically be worth nothing too, right?
I personally believe the dollar is by far the strongest currency I the world. After all, a countries economy is really based on it natural resources. The USA will be the largest producer of oil and natural gas by 2020. There will be no economic collapse here, it will actually be exactly the opposite.
We are yet to see the best and most prosperous year in the USA. IMO, they are right around the corner.
Originally posted by exportgoldman
Originally posted by tide88
No offense people, but if the dollar collapses, which it won't, gold would be worthless too.
If gold is priced at $1600 an ounce, and each of those dollars are worth nothing, gold would basically be worth nothing too, right?
I personally believe the dollar is by far the strongest currency I the world. After all, a countries economy is really based on it natural resources. The USA will be the largest producer of oil and natural gas by 2020. There will be no economic collapse here, it will actually be exactly the opposite.
We are yet to see the best and most prosperous year in the USA. IMO, they are right around the corner.
For your first question, exactly the opposite, since the value of USD has been going DOWN, golds value in comparison to the USD has been going up, so it takes more of the worthless USD to buy gold. This is also the same for USD buying Australian or New Zealand dollars.
The strongest currency is not based on personal belief, America's economy is mostly service based now. America manufactures not a lot now.
I ask you, how is Iraq/Iran and South Africa going which are some of the largest producers of oil/gold/minerals of the world?
Originally posted by trusername
I've also been made uncomfortable at bank of america when trying to take out cash.
I feel like saying: "Hey Yo - BofA / Merryl Lynch - Countrywide - barely tolerable crooks - Geez, aren't you the golden toilet guys? How dare you not immediately give me my own money no questions asked! It's not like you're being generous with the interest. So I pay you fees to hold on to my money so I don't get robbed. And you give it back when I ask. dose are da rules. OK Got it? Sheesh."
But as long as I'm playing into the system, it's hard to judge. It's a free country, I could just remove all my money, and always use cash, but I'm lazy and that's just too unusual not to use credit cards these days.
This is what they're hoping. Compliancy keeps the world go round.
The program’s end was expected to bring more withdrawals — but the smaller banks only lost .9 percent of their deposits.
Originally posted by ajay59
Everyone is getting out from under the FRN to avoid being crushed. Now is the time to buy precious metals before they sky-rocket and before the dollar goes up in smoke!edit on 25-1-2013 by ajay59 because: (no reason given)
Originally posted by XalienagendaX
Originally posted by ajay59
Everyone is getting out from under the FRN to avoid being crushed. Now is the time to buy precious metals before they sky-rocket and before the dollar goes up in smoke!edit on 25-1-2013 by ajay59 because: (no reason given)
Christ. I'm so sick of hearing this. I've heard it for the past five years, and guess what? It's all BS.
Another set of data from the US Federal Reserve shows some deposits may have moved within the banking system from one type of account to another.
Originally posted by Maxmars
Actually, this "TAG" program was known to be ending...
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final rule to implement section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 343 provides temporary unlimited coverage for noninterest-bearing transaction accounts. This separate coverage will become effective on December 31, 2010, and will end on December 31, 2012.
The final rule revises the FDIC’s deposit insurance regulations to include noninterest-bearing transaction accounts as a new temporary deposit insurance account category. All funds held in such accounts are fully insured, without limit, and this coverage is separate from, and in addition to, the coverage provided to depositors for other accounts at an insured depository institution.
Noninterest-bearing accounts, as defined in the Dodd-Frank Act, include only traditional, noninterest-bearing demand deposit (or checking) accounts that allow for an unlimited number of transfers and withdrawals at any time, whether held by a business, individual or other type of depositor.
Many argue that there is no more liquidity crisis to merit the continuation of the program, thus much of this wealth is simply being shuffled around to different account types - depending on the entity doing the shuffling.
The Fed seems to still be squeezing the money supply down (creating more power for them to wield with the politicians) ... as a result - money being scarcer - the poor will remain poor, the middle class will remain under their yolk, and the upper class will continue to play into the gimmick which takes the form of making money without producing anything ... It's the Fed's show ... it's called monetary policy and they rule us with it... thank you Democrat and Republican prostitutes.