Looks Like Big Brother Is Starting To Crack Down On Cash!

Posted by marc 8 years, 1 month ago to Economics
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This it good, people!


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  • Posted by $ MichaelAarethun 8 years, 1 month ago in reply to this comment.
    On the subject of checks Yes and I use them. When it's convenient to my purposes.

    I am careful of their use however as banks like BA use them to steal from clients.
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  • Posted by $ MikeMarotta 8 years, 1 month ago
    Total nonsense.
    See my comment in a similar thread here:
    https://www.galtsgulchonline.com/post...

    How old are you? Do you not remember checks? You identified the payee and the amount, and the date, and you signed it. Were you terrified of Big Brother? Why not?

    I repeat that every banknote has a unique serial number: cash is not anonymous. It is not Big Brother that enslaves you: it is your lack of knowledge.

    In the days of gold money, to open a National Bank, you needed to put at least $25,000 in gold in the US Treasury. They gave you interest bearing bonds for that. In return, your bank could issue (lend) its own notes up to 90% of the value of the bonds. And still some banks failed. It's a business. Do you hate shoe stores that fail? Do you vilify the unsuccessful pharmacist who moves to another town to start over? Why do you hate bankers, calling them "banisters"?

    And in those glory days, business was not anonymous. In fact, if you read anything about capitalism whether Ayn Rand or Deirdre McCloskey, you must know that reputation was everything. Anonymous transactions are for criminals.
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  • Posted by Herb7734 8 years, 1 month ago in reply to this comment.
    Go for it. I have managed to accumulate enough assets to last me until I assume room temperature. Unless, of course either Hillary or Bernie become president, in which case, I might just outlive my assetts. It will be a matter of being bare asseted.
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  • Posted by $ MikeMarotta 8 years, 1 month ago in reply to this comment.
    Again, RobertR, while I appreciate your sentiment, the fact is that during the days of Gold Hard Money, banks charged people to store their money. Banks paid interest for some investments, but not all. That came about as a result of the very Federal Reserve you denounce.

    Nothing personal in this, RR, but I find it tiring that conservatives know so little about money, about the history and uses of money, about its forms and functions. The facts of history are lost to you.
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  • Posted by $ MikeMarotta 8 years, 1 month ago in reply to this comment.
    Start?… I read Atlas Shrugged when I was 16. "He disappeared with the clothes on his back and whatever was in the safe in his office."
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  • Posted by $ MikeMarotta 8 years, 1 month ago in reply to this comment.
    They make 1% on the overnight rate. We had the same problem with a simple insurance payment: they sat on it for over a week, although we could see the timestamps showing that the check cleared in two days.
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  • Posted by 8 years, 1 month ago
    I misplaced a comma, folks - sorry about that. It should have read, "This is it, good people!' Mea culpa. Sorry about that.

    Next will come the confiscation of guns. When they come for mine, I will do my damdest to take onr or two, at least, to the Judgment with me. It will be interesting to see how they attempt to justify their lives' actions with their own pathetic self-rightousness.
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  • Posted by $ allosaur 8 years, 1 month ago in reply to this comment.
    Seems that is often the case.
    A couple of years ago my Christmas gift book "World War Z" contained STORIES that I enjoyed more than the one story of the movie, though that was also good.
    I bought a book called "Gangster Squad" that I put down due to its dull newspaper type reporting, but I enjoyed the Netflix-sent DVD for the suspense in it.
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  • Posted by term2 8 years, 1 month ago in reply to this comment.
    I saw the movie and read the book. I preferred the book in that it was written pretety good and I could get lost in the story better than in their movie
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  • Posted by Ben_C 8 years, 1 month ago in reply to this comment.
    We did. We have some local banks that still value their customers. Wish we had done this years ago. Live and learn.
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  • Posted by Mitch 8 years, 1 month ago in reply to this comment.
    BofA is the worst, I refuse to do business with them. When I was young, I moved to another city about 8 hours away from where I was living. Had about 5K to my name to get established and find a job and an apartment. BofA took the money out of my account due to fraud for three weeks while they investigated. When I pleaded that the money is my lively hood while I was getting established, their response to me was “We have three weeks to investigate and we are going to use every day of those three weeks before you can get your money back”.
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  • Posted by johnpe1 8 years, 1 month ago
    isn't this like Greece?? . no dollars besides milk money
    for you, even if you have millions. . it's a guard against
    a run on the bank -- and big brother is watching all of this. -- j
    .
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  • Posted by $ MichaelAarethun 8 years, 1 month ago in reply to this comment.
    Number One get the hell out of BA and find a real bank. If you are retired or present military or government employee I suggest AFCU or Andrews Federal Credit Union in Maryland. They have no out of country limits nor fees except the $10K reporting requirement. If not have had good service with WF but do not consider any banks in the US to be safe.
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  • Posted by $ MichaelAarethun 8 years, 1 month ago in reply to this comment.
    Thank you. the machines you want are south of the border. Along with a current 16.5 to 17.5 exchange rate. The limit is set by the US Banks and usually around $300 a day and the ability of the ATM used as a disbursing teller to issue currency.
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  • Posted by term2 8 years, 1 month ago in reply to this comment.
    i liked the book Alongside Night Basically was about living in plain sight without being so subject to the whims of the goverment.
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  • Posted by Herb7734 8 years, 1 month ago
    It might be a good idea to figure out ways to secure wealth that cannot be touched by the state.
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  • Posted by term2 8 years, 1 month ago in reply to this comment.
    i dont know how to stop this madness. I fear its just too late and it has to play out. Venezuela, here we come
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  • Posted by $ allosaur 8 years, 1 month ago in reply to this comment.
    Yeah, and you'll no longer be printing play money on paper either.
    We'll all be up the creek minus the canoe. Never mind the paddle.
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  • Posted by term2 8 years, 1 month ago in reply to this comment.
    Or Hillary for that matter. They will say its for the good of the country. Too bad if you happen to need more of your money than they allow you to withdraw. It already happened in Cyprus when their banking crisis was in full force.
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