tag:blogger.com,1999:blog-5526768924178592295.post9141009948592425603..comments2024-03-28T05:59:04.687-07:00Comments on Rural Revolution: When cash is no longer kingPatrice Lewishttp://www.blogger.com/profile/06012022335047974670noreply@blogger.comBlogger35125tag:blogger.com,1999:blog-5526768924178592295.post-16293934927240816342015-04-14T08:49:17.645-07:002015-04-14T08:49:17.645-07:00Some businesses and some government agencies will ...Some businesses and some government agencies will not accept cash. Partly to deter employee theft and partly to make their accounting simpler and more accurate. I too question how it can be legal to refuse to accept cash as legal tender for paying a debt. I suspect it technically isn't legal to refuse cash and that if you were willing to raise enough stink that they would be obliged to accept it.<br /> <br />Some have mentioned the problem with cash when buyng a house. The problem is not the cash it is the proof that it is yours. In order for the bank to sell the loan it must meet certain qualifications that assure it is a safe debt. One of these is that the borrower was capable of coming up with the 5% or 20% on their own and it wasn't a loan or gift from someone else. Anyone with irresponsible children understands this issue. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-44722466898349970222015-04-14T08:42:13.749-07:002015-04-14T08:42:13.749-07:00In 1963 I was working at a Lincoln Mercury dealers...In 1963 I was working at a Lincoln Mercury dealership. A plumber came in to buy a Mercury station wagon and pulled out $2700 in small bills out of his pocket to pay for it. That's roughly the equivalent of $25,000 today. He too looked homeless or worse because he just came from a job where he was working under a house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-33492536943625808582015-04-12T23:57:41.044-07:002015-04-12T23:57:41.044-07:00We were regular withdrawers of the "less tha...We were regular withdrawers of the "less than 10,000" until we were told that doing so would look like a deliberate attempt to avoid the $10,000 SAR. It was a conversation that began with "a little bird told me..."<br />To deliberate structure a transaction to avoid the SAR is a crime. You are darned if you do, and darned if you don't.<br />sidetracksusieAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-62946158564218899442015-04-10T19:59:49.730-07:002015-04-10T19:59:49.730-07:00a mcsp
just looked it up. had never heard of it. r...a mcsp<br />just looked it up. had never heard of it. right there on 'homeland security' website!deb harveyhttps://www.blogger.com/profile/05110992898072146282noreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-23314274542073263642015-04-10T19:56:04.547-07:002015-04-10T19:56:04.547-07:00my understanding of federal law is that federal mo...my understanding of federal law is that federal money must be accepted in any transaction in the USA. it used to be the law. has it been repealed?deb harveyhttps://www.blogger.com/profile/05110992898072146282noreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-17815057193956891872015-04-10T19:39:45.419-07:002015-04-10T19:39:45.419-07:00My husband is paid every two weeks and since it is...My husband is paid every two weeks and since it is the state<br />it is put into the bank. So far the bank has not complian when<br />I go in and preceed to take it all out. Expect for the 20% .The<br />tithe and give. Those are written in checks. I then bring the money<br />home divid it up into envelopes. Car insurance, wood,etc. then the money is there when the bills come due.But they are so use<br />to me doing it, so far it isn't a problem. But it could be come one<br />the next pay day or the pay day after that.<br />BlessingsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-65497929916850615132015-04-10T14:05:25.684-07:002015-04-10T14:05:25.684-07:00My grandfather always said he would rather shoot a...My grandfather always said he would rather shoot a banker than look at one. He always exchanged cash for something of value at the bank until he couldn't. When the government declared that people had to turn in their gold for cash, he didn't. He had old gallon pickle jars he kept his money in. Others were for quarters, dimes, half dollars, and dollar coins. Some was for $1 and $5 bills, Others for $10 and $20, and others for $50 and $100 bills. He had some pennies and nickels which he always said was saved for me. When he died my mom sold all of his gold and silver and put all of the money in the bank. In total she got over 4 million dollars and that was in the early 90s, not bad for an old moonshiner. That was only what she could find in the house, knowing my grandfather he wouldn't have kept all of his eggs in 1 basket. I imagine he had a lot of money (and other things) buried in various locations. I remember as a kid fooling around digging a hole with my cousin and he yelled at us to quit digging or else we might find something we didn't want to find. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-40283206177907391622015-04-10T10:58:29.056-07:002015-04-10T10:58:29.056-07:00The Feds claim to be concerned about money launder...The Feds claim to be concerned about money laundering. I too am concerned when I see suspicious activity. Like when ISIS first rolled in on dozens of identical new white pickup trucks. Me thinks cash was involved. Has anyone seen a SARs on that? Maybe its under the bed next to the Rose Law Firm documents.<br /><br />Montana GuyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-44420953373753141382015-04-10T10:39:55.735-07:002015-04-10T10:39:55.735-07:00Jane, I understand your concerns. Dealing with lar...Jane, I understand your concerns. Dealing with large sums of cash presents challenges. But you raise a larger issue. With the state of civility today, fearing for our lives and safety trumps fear of carrying large sums of cash.<br /><br />Liberty requires responsibility. Folks, protect yourselves at all times AS IF you were carrying thousands in cash. Fear not. Exercise your 2nd Amendment rights. My concealed carry instructor emphasized, time and time again,’ Refuse to be a victim!’<br /><br />I just want to be left alone. But I will be prepared to resist any punk or tyrant intent on harming me or my love ones. I am not going to live in fear.<br /><br />Montana Guy<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-261114564894250452015-04-10T09:35:23.557-07:002015-04-10T09:35:23.557-07:00Your article indicates you intend to use cash unti...Your article indicates you intend to use cash until it is no longer possible.<br />what then........?<br />-Old SoldierAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-56008697091324987472015-04-10T09:34:41.899-07:002015-04-10T09:34:41.899-07:00Examples all over the place of ppl being investiga...Examples all over the place of ppl being investigated and their savings confiscated for doing transactions just under the SAR limit.<br />Whats next? Pulled over for driving 1mph under the speed limit?<br />Cash will be king ... it will be short (and sweet for those who have it) and then the events that precipitated that economic situation will be used to take us off cash entirely. -Old Soldier<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-23460044556265713892015-04-10T09:09:11.770-07:002015-04-10T09:09:11.770-07:00Why wouldn't it be legal?Why wouldn't it be legal? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-57569598034340309822015-04-10T07:56:33.758-07:002015-04-10T07:56:33.758-07:00Our dentist offers a cash discount (could be same ...Our dentist offers a cash discount (could be same if using a check, but is for people without insurance I suppose) .. anyhow, they will accept cash as payment, but don't have cash to make change. We usually leave with a credit balance for cash over payment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-2668826334113338972015-04-10T06:56:51.167-07:002015-04-10T06:56:51.167-07:00A few years ago I had to withdraw $5000 from my cr...A few years ago I had to withdraw $5000 from my credit ubion. They asked what it was for and I told them it was none of their business. They insisted that I tell them. I told them it was to buy a car and then I proceeded to close my accounts and I took my banking business to another bank. Sam I Amhttps://www.blogger.com/profile/14751570832134924744noreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-36693834975342207872015-04-09T22:36:29.868-07:002015-04-09T22:36:29.868-07:00I am not disagreeing with you, but my health care ...I am not disagreeing with you, but my health care provider has gone to cashless transactions for co-pays and prescriptions. I'm not sure that is really legal, but it is what they are doing.Janehttps://www.blogger.com/profile/08627928144398775810noreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-22789684197388516462015-04-09T21:05:02.999-07:002015-04-09T21:05:02.999-07:00The USA used to print some very large bills. There...The USA used to print some very large bills. There is a display of such bills and bonds at the House Finance Committee room in DC. It shows $1, 2, 5, 10, 20, 50, 100, 500, 1000, 5000, and 10000 dollar bills, and an assortment of bonds with face values of up to $100,000. Probably to make this framed collection less likely to be stolen, all the bills and bonds have serial numbers that are all zeros :>)<br /><br />For me I dislike any bills larger than $20, because it is hard to spend them.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-57398172108302508892015-04-09T17:37:15.611-07:002015-04-09T17:37:15.611-07:00We do the same with envelopes/cash. Last week I v...We do the same with envelopes/cash. Last week I visited a supermarket. Wanted to use my 'loyalty' card (not mine .. but someone once had my phone number and it works same as card). Young cashier said to enter phone number in debit key pad which then asked method of payment .. CASH WAS NOT AN OPTION on said keypad. I handed cashier a $100 for $23 of groceries .. he commented 'thanks for the tip' ... and proceeded to hand me a wad of cash as my change without even stating the amount being handed back to me. Taking my sweet time I handed him the wad of cash back and asked him to count it back to me. Stupid kid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-46835239937007918542015-04-09T16:50:22.881-07:002015-04-09T16:50:22.881-07:00My daughter recently purchased her first home. To ...My daughter recently purchased her first home. To pay for her closing costs and down payment she had saved up cash. It was stored in our home safe. When she told the loan officer at her bank (she was mortgaging the balance) the officer instructed her to give us the money and have us deposit it in our bank account. Then write her a check to deposit into her account. This would eliminate extensive paperwork or so she was told. However, I was an economics student in college and know that because we deposited the money in cash and she deposited it as a check the bank just got double the value to put on their books and loan back out to others. They are only required to keep 10% or so for reserves. The rest can be loaned out. But my point with this story is the officer knew there would be extensive paper work for $6,000. Amazing that she couldn't take just cash to the closing. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-66941305313042349562015-04-09T16:42:24.116-07:002015-04-09T16:42:24.116-07:00In the 30 years I have been in the banking industr...In the 30 years I have been in the banking industry, it has always been the case that cash transactions of 10,000 or more must be reported as Suspicious Activity; there may be mitigating factors that keep the SAR from going further, like a pattern of cash transactions, or running a cash based business. There has never been a "requirement" to file so many SARs per year - unless of course, but they must file as many SARs as they process large cash transactions.<br /><br />While it's always possible there are nefarious purposes behind it now, the requirement started in an attempt to stop money laundering.Katenoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-25717670280125765442015-04-09T15:29:33.340-07:002015-04-09T15:29:33.340-07:00A few weeks ago, at a prominent chain store, I pur...A few weeks ago, at a prominent chain store, I purchased something for about $50 and paid the way I normally do - with cash. After I found the same thing for less money somewhere else, I took this thing back to the first store for a refund.<br /><br />The guy processing the refund never examined my receipt.<br /><br />When he was done processing, he asked, "Shall I put that on your card?", probably wondering why I hadn't presented one. <br /><br />I said "Card? I paid cash. I'd like cash back, please."<br /><br />He took a closer look at the receipt and turned red in the face. "Oops."<br /><br />He had to start all over.<br /><br />(He was very nice the whole time. I have no complaints about his "bedside manner.") <br /><br />Just MeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-73045255280272255242015-04-09T13:24:27.135-07:002015-04-09T13:24:27.135-07:00I have been cash only my whole life. Like you I us...I have been cash only my whole life. Like you I use cash for large and small purchases. Cash doesn't make you any bigger a robbery target. Once I was at a grocery store had just fixed my car cut the grass and looked like crap but I had 4000$ on me going to the bank ,A lady walks up to me and try's to hand me 10$ because "i looked like I could use the help".Cash is king. A pair of bib overalls tends to hold large rolls of notes. Lesson learned at a cattle sale.Gary in Bamahttps://www.blogger.com/profile/00095999376990912465noreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-60501788107185477112015-04-09T12:39:26.929-07:002015-04-09T12:39:26.929-07:00Apparently you missed the case several years ago a...Apparently you missed the case several years ago against Rush Limbaugh. Knowing about the "reporting $10,000 policy", and to avoid constantly explaining his personal spending to the gov't, he developed the habit of withdrawing amounts in the $9,000 range. Well, it didn't escape gov't notice. They investigated him on charges of purposely withdrawing less than $10,000 to avoid government notice. I don't remember the details of the outcome, but surely it can be researched.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-56235711682828734542015-04-09T10:46:45.788-07:002015-04-09T10:46:45.788-07:00If you travel, you know how difficult it is to use...If you travel, you know how difficult it is to use cash, no business wants it. So we opened a checking account that is just for traveling. We deposit our travel money into it for hotels, airline tickets, rental cars and restaurants. It keeps it separate from our household account and limits the amount of money, if stolen will be with-drawn. We then carry cash for little expenditures. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-68258510444501728222015-04-09T08:01:52.467-07:002015-04-09T08:01:52.467-07:00The problem is what do you do with the cashiers ch...The problem is what do you do with the cashiers check? I recently told my sister in law who was selling her mobile home to not accept a cashiers check. It is impossible to tell a fake cashiers check from a real one and it takes the bank longer to discover this than it does a fake personal check. About the only thing you can do with a cashiers check is move money fromone bank to another.<br />I regularly carry $500 more or less and often carry $1000's. Do I look any different to a crook when I'm carrying money? The real risk is that I would lose it. I am over 70 and have never lost my wallet in my life. The risk is manageable.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5526768924178592295.post-2457326223151533172015-04-09T07:41:37.094-07:002015-04-09T07:41:37.094-07:00I live simply, so I withdraw $500 per month for li...I live simply, so I withdraw $500 per month for living expenses (gas, food, etc.). <br />The rest stays in the bank.<br />I only use checks as a last resort.<br />I, like you, prefer to use cash so there is no record of where I have been or what I have purchased. Anonymousnoreply@blogger.com