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Pillar of the Community
United States
2168 Posts |
Ed were you able to get the $ out. I think large sums of cash in or out of a bank causes the person to be watched/reported. One of the signs of a t...st. I don't know what to do to be honest. Cash is best. But how to keep any large amt safe is also a problem
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Pillar of the Community
Canada
1502 Posts |
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Do I really have to list the number of dictators toppled this year alone? Just need a couple more to calm the fears completely. It's all a mind game. topple a few top bankers and then we'll talk. |
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Pillar of the Community
United States
4008 Posts |
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Ed were you able to get the $ out. I sent an email to my CU about cash withdrawals in the $4-8k range each and on a monthly basis. I have yet to hear from them about the procedure they need to do this. I know that a lot of financial institutions are terribly busy as the year ends, so do not think that this is unusual or that skulduggery is afoot... yet. We'll see in a week or so. Quote:
I think large sums of cash in or out of a bank causes the person to be watched/reported. Well, I am neither paranoid nor up to anything illegal, so if they want to waste their time watching and reporting me, they are welcome to do that. Shrug. As others have said on this issue, they don't question or report deposits of this size, so why do it for withdrawals? Unless, of course, THEY are up to something that should be watched AND reported.  Quote:
But how to keep any large amt safe is also a problem Yes, that is an issue. I do have access to 3 different safes, so can distribute the money there or find a really good hiding place for it. I could even keep a part of it in my SDB at that same credit union until it comes time to make some purchases at the local fairs and shows. |
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Pillar of the Community
United States
2168 Posts |
I worry about eeping large amr if $ at home. Also those using cash are watched now. Scary stuff in the land of the not so free and the home of the brave
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Rest in Peace
United States
9104 Posts |
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Contrary to the opinions of most people, banks often do not have all that much cash on hand unless they know that they need it for more than their usual day to day operation. The one local s+l rarely had $500 cash on hand. You wanted to withdraw $10,000, they wrote a check and pointed you down the street to the bank they worked with. |
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Rest in Peace
United States
9104 Posts |
[quite]Yes, you can quite me on that. [/quite]
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Rest in Peace
United States
9104 Posts |
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As others have said on this issue, they don't question or report deposits of this size, so why do it for withdrawals? I guarantee if you deposit $4000 cash a few times, they will be reporting it. |
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Pillar of the Community
United States
667 Posts |
Between the IRS looking for their money and the government trying to catch drug dealers etc I feel everyone is watching my bank deposits and withdraws.
I think for sure they report every withdraw or deposit over $10,000, but I could be wrong about that.
I don't worry about it since I pay my taxes and I am not dong anything illegal.
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Pillar of the Community
United States
2168 Posts |
But they watch lesser amts and it could be a regualr thing you do. Its money in or out. Loook up large currency transaction reports as well as suspicious activity reporting to get all the particulars. I never have that much toi us but I wonder about some of the large exchanges of halves some do here. Never thought about that til now
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Rest in Peace
United States
9104 Posts |
Unless they've changed it $10,000 requires reporting to the feds. There's also a thing called "structuring", which means dividing $10,000 into smaller amounts and depositing over time.
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Pillar of the Community
United States
642 Posts |
I agree with the Year End correction theory. In my opinion Silver was way over priced during the summer and is settling back down now. Gold may be slightly under priced currently and will likely rise with the coming new Debt Ceiling increase.
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Pillar of the Community
United States
667 Posts |
Everyone here does keep their sales slips and reports their full profit when selling their silver - don't you?
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Pillar of the Community
United States
2168 Posts |
I have never sold but what haPpens with silver held from the 60s or found in roll searches?
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Rest in Peace
United States
9104 Posts |
Your profit is anything above face. Another count against the profitability of roll hunting. If you find $1 face in silver worth $20, you are taxed on $19 profit, but you get nothing for your time. If you spent $20 on them and sold them for $20, there's no profit to pay taxes on.
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Pillar of the Community
United States
2168 Posts |
That's what I figured. Thanks
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Replies: 55 / Views: 4,874 |
First Page
Posted 12/30/2011 8:47 pm
