how do i funnel 50K out of the bank?

[97guns]

i had a nice sized chunk sitting liquid in the bank and have converted a fair amount of it into pm. just wondering what i should do with the rest of the liquid and how much should be kept on hand at home.

[Phoenix]

Three months' supply of cash at home, the rest in gold or silver, is the most commonly seen recommendation.

[Sparky]

Three months' supply of cash at home, the rest in gold or silver, is the most commonly seen recommendation.

What would you call a month's supply of cash? What monthly expenses will you pay if there is a cash shortage?

[Saul Mine]

If you have any significant amount in the bank you should open a Treasury Direct (http://www.treasurydirect.gov/) account. Then when your bank doesn't open some Monday morning you can go on line and transfer your funds to your TD account.

But if you don't need the money in the bank you ought to convert it all to precious metals which you store yourself. Not in somebody else's vault: store it yourself.

[MNeagle]

If you have any significant amount in the bank you should open a Treasury Direct (http://www.treasurydirect.gov/) account. Then when your bank doesn't open some Monday morning you can go on line and transfer your funds to your TD account.

But if you don't need the money in the bank you ought to convert it all to precious metals which you store yourself. Not in somebody else's vault: store it yourself.


Take heed: http://gold-silver.us/forum/general-discussion/barclays'-network-glitch-causes-chaos-in-uk/

[zap]

I wouldn't keep any significant amount in the bank, It depends on alot of things, significant to you might be insignificant to me and vise/versa, how much can you afford to loose or have tied up.

I'm sure you have a good idea of how much you should keep at home. Getting it out isn't a big deal, but you have to request cash a week in advance most the time, if you are worried about questions from the bank, you can tell them none of their business, or play the game and say you gotta have it to go to a equipment auction. Heck that backhoe might cost $ 30,000. :D

[Saul Mine]

If you have any significant amount in the bank you should open a Treasury Direct (http://www.treasurydirect.gov/) account. Then when your bank doesn't open some Monday morning you can go on line and transfer your funds to your TD account.

But if you don't need the money in the bank you ought to convert it all to precious metals which you store yourself. Not in somebody else's vault: store it yourself.


Take heed: http://gold-silver.us/forum/general-discussion/barclays'-network-glitch-causes-chaos-in-uk/


Sorry, I don't see your point. This has nothing to do with my post.

[MNeagle]

My point is, if you can't access your funds electronically, then you can't transfer funds.

[gunDriller]

i had a nice sized chunk sitting liquid in the bank and have converted a fair amount of it into pm. just wondering what i should do with the rest of the liquid and how much should be kept on hand at home.


i suggest finding a second bank, e.g. a credit union or a local bank with the healthiest possible balance sheet and limited exposure to real estate loan problems.

then, having half the money in a normal savings account, and about half in a 2 year CD where you might get 2.25% interest. also, to find out about the circumstance where you needed to close the CD prematurely, e.g. if you came across a great real estate bargain in the near future.

of course the advice about converting the capital to a highly liquid and stable asset such as gold is good advice.

also to be aware of applicable tax laws such as the 2012 1099 $600 law that is part of Obamacare. this website already has maybe 5 threads about that.

[Phoenix]

If you have any significant amount in the bank you should open a Treasury Direct (http://www.treasurydirect.gov/) account. Then when your bank doesn't open some Monday morning you can go on line and transfer your funds to your TD account.

But if you don't need the money in the bank you ought to convert it all to precious metals which you store yourself. Not in somebody else's vault: store it yourself.


Take heed: http://gold-silver.us/forum/general-discussion/barclays'-network-glitch-causes-chaos-in-uk/


Sorry, I don't see your point. This has nothing to do with my post.


I accidentally "Thanked" your post.

[Phoenix]

Three months' supply of cash at home, the rest in gold or silver, is the most commonly seen recommendation.

What would you call a month's supply of cash? What monthly expenses will you pay if there is a cash shortage?



The amounts you HAVE TO spend each month to maintain a basic standard of living; rent/mortgage, utilities, food, fuel, medical stuff, etc. Eating out is obviously not a necessity.

[Saul Mine]

My point is, if you can't access your funds electronically, then you can't transfer funds.


My point is if you have a TD account you can transfer your funds no matter what happens, as long as you can get an internet connection. And you can always get a withdrawal from the Treasury.

[Phoenix]

My point is, if you can't access your funds electronically, then you can't transfer funds.


My point is if you have a TD account you can transfer your funds no matter what happens, as long as you can get an internet connection. And you can always get a withdrawal from the Treasury.


Payable to the bearer on demand, eh?

::)

http://upload.wikimedia.org/wikipedia/commons/0/0a/US_$1_1928_Silver_Certificate.jpg


"By the authority invested in me by the Constitution of the United States [sic], I, Barack Obama, President [sic] of the United States, issue this executive order, directing the Secretary of the Treasury and his subordinates to suspend all disbursements to private citizens effectively immediately."