I can explain that, and I need not be British, nor American.

One only has to think in "greedy" terms.

If you deposit 50.000 in the bank, the bank invests that money... for you?

Of course not! They invest that money for themselves!

BUT if you withdraw more than the "average" amount (i.e. saturday shopping, gas money, bills etc.) you are actually causing a "ripple" in your bank's money flow.

Mind you, it's YOUR money, but it's THEIR bank.

So, it's like having your fridge in your dietician's house... it's your food, but he doesn't like you coming and going... for your own good, of course...

justin_o_guy2 wrote on 01/26/14 at 16:28:39:


That's already happening here, you can't spend any more than €1000 in cash, higher amounts MUST be either via check or credit card or transaction.

They claim it to be an "anti-corruption crusade"...  

Amounts over $10,000 do have to be reported.
When I purchased my home I came in with 15k.
I needed another 15k to bring 20% to the table and avoid a variable rate so I borrowed it from my parents (and thank God I did).
Paying them back was nothing compared to the rate hike in which tons of people lost their homes.
Anyway, I had to report the cash because it was over 10k.

I've heard the magnetic strip theory before. With RFID I don't see why it isn't possible.
When I was younger and the strips first came out I used to slice the bill open with a razor blade and extract the strip.
I haven't the free time these days.

I have heard a rumor if you cut the strip out of a 5 and tape it to a 1 then some vending machines believe you fed them a 5 and will issue change appropriately. I haven't tested this for myself.


--Steve

Who in their right mind would risk carrying that kind of bread around with them anyway?
Opps, I forgot.... you guys all carry guns.

Anything it takes to fall on the knees & worship at the feet of tyranny & make the victim wrong.

It is anyones right to carry THEIR cash,, If someone thinks it foolish, fine, but that doesnt change a mans right to have HIS money in HIS hands when HE wants it, without ANYone raising an eyebrow,, CAN $$$ be used for illegal things? Yep,, But when did AMERICA become a "Guilty till proven innocent" country instead of "Innocent till proven guilty"?

justin_o_guy2 wrote on 01/28/14 at 17:40:14:


I made this same argument here in Connecticut.
All "large capacity magazines" must be declared.
Anything now deemed an "assault weapon" must be registered.
That's find and dandy because firearms have unique serial numbers and you get receipts and transfer forms.
Magazines, of any type, make model or size, don't.
Magazines are now "declared". Not registered. Because it's not registered you are not issued a receipt. (IF you read into this that means they probably already created a database)

So assume someone gets pulled over and the officer, eventually, ends up searching the vehicle and finds a "large capacity magazine".
I see it going two ways:

A)
"Is this a large capacity magazine?"
"Yes."
"Did you register it?"
"They don't have to be registered, only declared. Because it's declared and no receipt was issued I can't prove it was."
"Ok, you're going to jail."

B)
"Is this a large capacity magazine?"
"Yes."
"Did you register it?"
"Can you prove I didn't, pig?"
*As he is beating you senseless or tazering your face*
"Stop resisting arrest, sir"


--Steve

LOL! What do you want the money for sir? uMMM, nunya goldurn business pencilneck!
I put my money in there, now I want it back! You gonna give it to me or do I call my lawyer and channel 3 news to get everyone who has money in this bank to come withdraw all their money tomorrow cause you don't have mine?