ATM and cash shortage

wilson ind

Well-known Member
In following some internet leads I have noticed severrsitals

I have noticed several things about out ATMs and banks soon to be out of cash. I wonder , is this possible? What do youall think. If no cash how can I buy a TRACTOR.
 
I am not a TROLL I do not live under a bridge!!!!!!!!!!!! I truly am concerned about our economy as Greece has had problems. News tonight <at least one I listened to> stated stocks likely would open lower worldwide.
 
Greece has roughly the GDP of Miami Florida, their default is not going to bring down the world economy, if you want something to worry about look at chinas stock market and debt ratio.
 
just get it out of the mattress, or the can buried in the back yard. If I was worried about banks failing I would not have my fluid cash in them. Maybe I should run to the bank in the morning. gobble
 
wilson ind- Calm down...Did you get your information from Yahoo and clicked on the heading 'Sponsered' by the "Stansberry Research" tag? If so, this is just an ad toget you to buy what they are selling. Nothing more, nothing less.

As for stocks falling on the NASDAQ, they will fall tomorrow as Greece just voted NO to the Trokia..

Greece is a sinking ship. As for the "Stansberry Research" report I feel it is just a tabloid.
 
tomturkey- I'll bet wilson ind clicked on one of those 'sponsored' links that reports the American Dollar will be replaced by a new world currency on October, 22, 2015. It's just 'click bait'.
 
I think it's a valid concern. Greece got into trouble spending more money than they were taking in, just like our government. One day we will be rationed to $67.00 a day.
 
Really???

Dude, you need to confine your worries to something that you can do something about. World currency and a country's financial crisis is out of the realm of the ordinary citizen. For that matter, what does this have to do with tractors, farming, or country life anyways?????
 
Had same thoughts while spraying beans with my tractor,your concern is valid imo. If one has livestock and food, you'll have to be prepared to protect that resource with force if necessary. Been after my wife to start canning meat along with veggies. Gold/silver coins would be handy for bartering as have been in past upheavals, plus LOTS of AMMO. IF IT Happens, it won't be pretty.
 
With interest rates at about zero why does anyone keep their money in a bank these days anyway other than enough to write checks for bills?Bank deposits are actually unsecured loans to the bank and I don't make unsecured loans.
 
Time to stop clicking on every tantalizing link you see. Do you seriously think the Federal Reserve will allow US banks to run out of cash?
 
(quoted from post at 20:36:06 07/05/15) Had same thoughts while spraying beans with my tractor,your concern is valid imo. If one has livestock and food, you'll have to be prepared to protect that resource with force if necessary. Been after my wife to start canning meat along with veggies. Gold/silver coins would be handy for bartering as have been in past upheavals, plus LOTS of AMMO. IF IT Happens, it won't be pretty.

There is an opportunity out there right now to buy gold coins. I have been hearing an ad for gold dollars for only $26.00. 'Course there is no mention of them being solid gold or plated.
 
The story you saw was talking about the situation in Greece. Withdrawals have been limited to approx. $60 per day at ATMs. Only in Greece. Nowhere else.
 
A friend decided a safe and or vault in his home was a better place for his money. He withdrew a few hundred thousand, and what unfolded with the bank and who showed up, is almost beyond belief. He's been a business owner since almost out of high school, has done well over the years, decided he'd rather not trust banks anymore. Try to move a significant amount of cash like this and the government will show up. I think he was told he can't do that, by the bank at first or some darned thing, that certainly didn't stop him.
 
There are plenty of reasons why a large cash transaction would cause the bank to notify law enforcement. Most legal transactions involving large sums aren't done in cash, so there's a presumption of illegal activity anytime someone makes a large cash withdrawal: blackmail and kidnapping are a couple of obvious reasons someone might withdraw a lot of cash. Banks that don't report such activity can get in hot water with the feds.
 
Outside the realm of the normal citizen? Sheep thinking like that is how the government ends up 18 trillion in debt and 100 trillion in unfunded liabilities - or 1 million dollars per taxpayer. It has everything to do with farming and country life.
 
Agreed - nowhere else - yet.

The big banks want to do away with cash so banks can control all spending - not just what you can pull from an ATM.
 
Huh????? With all due respect, you need to start paying attention to what is going on around you. The Feds have already spent 18 trillion of our money they don't have yet. Do you actually think the FDIC backing is worth the paper it's printed on? Why do you think the FDIC substantially lowered the amount of your savings they will insure that is held in banks several years ago?? And like is mentioned below, they still can't back only a very small percentage of that if things go sour.
 
So, exactly WHAT do you think that ANY ordinary citizen can actually DO ABOUT IT?????
Sheep thinking? I don't think so. In a nation of over 300 million people, what real power do you think I would have to correct this situation????
Seriously. If it were up to me in ANY form, I would mandate that the government live within their means. Period. No more deficit spending, no more borrowing. Period. So how do you propose that I accomplish this?
I'll await your reply.


P. S. If half or better of the nation was not looking for handouts (welfare, food stamps, free health care), we might not be so far in debt.
Also, just for kicks, you say 1 million per taxpayer. Have you EVER been asked to personally repay that money? I've been around long enough to see the government get in and out of debt a time or two. Nobody has asked me to pay anything more than my fair share of taxes. So, in reality, it does not affect you as much as you think. Just gives you something to gripe about.
 
not intending to hi-jack the thread, but along the same lines, how many people keep a supply of cash on hand ?
I always have a few $ k around, just for emerg purposes has come in handy during power outages etc
just wondering as it seems we are going to an almost entirely cash - less society
routinely see people use plastic / debit cards for $ 1 to $2 purchases anymore , no one seems to have actual money on them ?
bob
 
(quoted from post at 21:13:42 07/05/15) Really???

Dude, you need to confine your worries to something that you can do something about. World currency and a country's financial crisis is out of the realm of the ordinary citizen. For that matter, what does this have to do with tractors, farming, or country life anyways?????

And there you have it, [b:9cfa20709e]DUDES![/b:9cfa20709e] 'From the mouths of babes..........' :roll:
 
(quoted from post at 04:04:57 07/06/15) Unsecured loans to the bank?!! Almost all bank deposits are insured by the FDIC. I regard that as well secured.

Deposits and loans are to entirely different things. AN unsecured loan means there is no collateral to be repoed and sold to cover at least some of the loan.

Rick
 
Don't listen to the news. they're fear mongers. Anything they say, look at actual facts from independent sites. Their job these days is not to report news, it's to get ratings. The headlines are massively misleading anymore.
 
Out here, the only ATM we pull cash from is the At The Moment fund (aka "cookie jar").

The only FDIC I trust, is our Farm Diversity Investment Choices. The 800 I put into buying an old Farmall H will 'pay' a lot better than that 800 sitting in a bank. Money in a bank makes someone else wealthy. Working equipment can help make me wealthy in ways a banker hasn't a chance of understanding.
 

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