Banks are being told to call the cops if someone attempts to withdrawl $5000!

a reply to: Anyafaj

This is all part of their efforts to prevent a run on the banking system.
Some of us know that there is not enough actual cash to be able to service every customer, it's now between 10 and 15% depending where you are. Fractional Reserve Banking is a dangerous game to play and it relies on trust and good faith.

It's also never your money, it always belongs to the government (or central bank).

People have a strange view of cash. It's really just a token system to allow for the transfer of goods and services. We've developed such an insane level of attachment to it, it's really quite bizarre. Money itself has absolutely no value whatever, it's just a simplistic representation of wealth.

When you realize what money is and how it's used, you soon learn to transfer your wealth into physical things actual of value, like property. Forget saving hundreds of thousands of $'s, it's pointless. Invest that money in things you can use, things that have actual physical value, things you can later sell and things you know can retain at least some of that value.

originally posted by: MALBOSIA
I'm back on debit's d!€k now because it was just too inconvenient to only use cash.

Ugh, same here. I tried my hardest to stay away from banking as a whole. But in 2008 I finally had to cave in and get a bank account due to the company I was working for were no longer paying through checks due to some inane policy. Since around 2012, I've dropped paying with cash as a whole and use a debit card 99% of the places I go.

I use a local bank though, I've never had any issues taking out over 5K. Last purchase I made was 8K for a 2013 Kawasaki Z1000 and they had no problem with it. This was a month ago, so not sure if the policies in the OP is something that's happened since then.

Its a case of guilty until proven innocent.


Another way to enforce the growing fuedal system were the eilte rule over us serfs.

Bank restriction are a way to stop us getting above our station.

A quota system for banks too? I guess the cops can't seem to bring in enough revenue by creating small time crimes anymore.

a reply to: Anyafaj

This was always at the descretion of the bank employees. When i had my restaurants I would constantly deposit more than $5,000 and often much more than that. The employees all knew our habits and it was never an issue. I asked them about the policy and one of the managers said it was only when they felt it was supsicious and/or the person did not have an account.

I think some here are confusing business accounts with personal accounts. Businesses are expected to have large deposits and withdrawals.

As far as personal goes, I only put enough in my account to cover the bills for the month. They don't pay enough interest to make not having instant access worth it.

originally posted by: Domo1
Good. Suspicious activity should be reported by banks.

OP I'm interested to read more, but the link you provided was in the text that you quoted, and I doubt The Wall Street Journal would quote itself. Could you give us the link where you read this? I clicked the link, but I don't have a subscription to TWSJ, so I was unable to read the full article.

This smacks to me of some site that caters to conspiracy theorists and easily riled dumbasses by quoting snippets of content and drawing outlandish, click-bait articles.

Saying that the government is going to steal your money if you withdraw over $5k is ridiculous, even after reading the quoted portion in the OP.

Saying that banks are forced to report it seems a bit odd, the way I read the SNIPPET posted made it seem as if banks were required to report SUSPICIOUS activity after a certain dollar amount. So if someone never takes out a large amount of cash, or is suddenly rich and starts taking out a ton of cash, it may be of concern.

Ohhh god, I was wondering why it took so long for a comment like this.


Here's a deal for you domo, when banks report THEIR OWN SUSPICIOUS ACTIVITY, then I have no problem with them reporting "mine".

Till that time, STAY OUT OF MY BUSINESS.

originally posted by: crazyewok
Bank restriction are a way to stop us getting above our station.

This.


It's my money and I damn well choose what to do with it.
And if it's "not my money" then what the **** did I work for all those years, kindness?

originally posted by: skunkape23
Let's say I'm a bajillionaire.
I want to buy a new Bugatti...cash.
Is this going to be a problem?

No, because you can prove where you got that money from....This is basically so you didn't sell drugs, buy a Veyron in cash with it and get away with it....That is basically money laundering, because then you can sell that car and poof, you have clean/legal money again and can prove where it came from if need be....This process is to make sure money is coming in "honestly" whatever that really means....

The Patriot Act has some interesting things about "banking"

Customer Identification Programs for Financial Transactions

While the big banks launder billions annually in drug and gun running money us peons are put under the microscope.
Land of the free or land of the delusional?

originally posted by: Asktheanimals
While the big banks launder billions annually in drug and gun running money us peons are put under the microscope.
Land of the free or land of the delusional?

It's neo feudalism and it's not just in the US, you guys imported the idea over here

The banks also must inform the feds if you are depositing the same amount or greater . First , they have to know where it came from , and have to know if you can be taxed (yes)

originally posted by: crazyewok

originally posted by: Asktheanimals
While the big banks launder billions annually in drug and gun running money us peons are put under the microscope.
Land of the free or land of the delusional?

It's neo feudalism and it's not just in the US, you guys imported the idea over here

No, no, capitalism came to America with the Hudson Bay Company and Bank of England.
Sorry mate but you blokes invented it.

a reply to: Anyafaj

So when the cops show up, what's the charge? Attempted acquisition of ones own money? How are they criminalizing this so that it falls under any police department's jurisdiction?

We have this in the UK, it's because of fraud problems, old dears were being conned by door to door fraudsters, taken in by their stories and then taken to the bank to withdraw their life savings. I have gone in and withdrawn more, they ask you what it's for, and they note it down, they can't stop you getting to your money. Hell, I can go into the bank without Id or bank card and get money if I have forgotten my wallet, even in another city

a reply to: weemadmental

"Hell, I can go into the bank without Id or bank card and get money if I have forgotten my wallet, even in another city"

That's kinda scary.

originally posted by: Asktheanimals

originally posted by: crazyewok

originally posted by: Asktheanimals
While the big banks launder billions annually in drug and gun running money us peons are put under the microscope.
Land of the free or land of the delusional?

It's neo feudalism and it's not just in the US, you guys imported the idea over here

No, no, capitalism came to America with the Hudson Bay Company and Bank of England.
Sorry mate but you blokes invented it.

O I was talking civil forfeiture laws ect

Now capitalism? .....yeah sorry about that

a reply to: Anyafaj

I am going to withdraw $5001 dollars after work tonight. Bring it all back next week and repeat.

a reply to: Anyafaj

I would be very ticked and likely wind up in jail!!