Cash Hypothetical

[doom&gloom]

Re: Cash Hypothetical

whatever you do, don't lose it like this...

More seriously, there are SO many places around a house you can stash $20K, I see no reason NOT to have it at home. Just break it up in 10 or so lots of $2k each, and put it in as many places inside and outside the house. Use plastic containers to hide it so no metal detector could ever find it.

I recall a story of some remodeler who found around $20k in bills stashed in some womans wall during a remodle. Turned it over to her. Bills belonged to the father of the prior owner of the home, who learned of it when the contractor and the current homeowner get in a dipute over it. Old owner sued for it. The bills themselves were kind of rare and sold for well more than face. Had been in the wall like 60+ years. Dad had put them behind a mirror.

[Southernguy]

Re: Cash Hypothetical

whatever you do, don't lose it like this...

More seriously, there are SO many places around a house you can stash $20K, I see no reason NOT to have it at home. Just break it up in 10 or so lots of $2k each, and put it in as many places inside and outside the house. Use plastic containers to hide it so no metal detector could ever find it.

I recall a story of some remodeler who found around $20k in bills stashed in some womans wall during a remodle. Turned it over to her. Bills belonged to the father of the prior owner of the home, who learned of it when the contractor and the current homeowner get in a dipute over it. Old owner sued for it. The bills themselves were kind of rare and sold for well more than face. Had been in the wall like 60+ years. Dad had put them behind a mirror.

How do you remember where you put the cash after a couple of years?
The upside: you pass away suddenly and someone ends one day very happy finding the bills

[don]

Re: Cash Hypothetical

If you have a large personal library you can store some cash in a book. Choose the title carefully! Wit helps. Say The Fountainhead or Das Kapital!

[raja]

Re: Cash Hypothetical

You have a cash reserve of $20,000, readily available for a drop in income, a large medical co-pay, an appliance or vehicle kaput, etc.

My mother was about 17 yo when the Great Depression hit . . . and the bad times stuck around for 10 years. When she died at the age of 91, we were surprised to find that she had money in about 20 different bank accounts. She also kept $20,000 in a drawer. Experientia docet . . . . (Remember the days when you had to learn Latin in High School?)

And now the Wheel Turns . . . and we are worried about widespread bank failures.

You have to ask, what would have to be happening in the world for your $20,000 not to be safe in a bank? Just what level of CRASH are you preparing for? Is it going to be 25% unemployment like the Great Depression? Or rich people using their jewelry to buying cabbages from the farmers, as in the Weimar crash? Or The Road?
Different potential scenarios require different strategies . . . place your bets, Ladies and Gentlemen.

[raja]

Re: Cash Hypothetical

Cut-in box, sheetrock knife, pencil, screwdriver - all good.

What's the lineman pliers, small screwdriver, nails and washers for?

This guy is planning on a bleak future . . . .

The pliers are to pull out your decayed teeth, because you ran out of chickens to trade with your dentist.

The nails are for posting signs on your property saying, "Death To Robbers Who Want To Steal My Gold". Of course, the signs are really there to lure in unsuspecting thieves so you can boost your dietary protein intake.

I have no idea about the small screwdriver and washers.

[BadJuju]

Re: Cash Hypothetical

Just be sure to sanitize the pliers. I know of one man that didn't and he nearly died from the infection!

Small screwdriver and washers are for a more primitive and poor form of that classic game horseshoes. Takes a lot of skill, though!

[GRG55]

Re: Cash Hypothetical

If you have a large personal library you can store some cash in a book. Choose the title carefully! Wit helps. Say The Fountainhead or Das Kapital!

Being a bit of a contrarian, I thought it best to stash my dollars in this title. Who would think to look there...

[globaleconomicollaps]

Re: Cash Hypothetical

My mother was about 17 yo when the Great Depression hit . . . and the bad times stuck around for 10 years. When she died at the age of 91, we were surprised to find that she had money in about 20 different bank accounts. She also kept $20,000 in a drawer. Experientia docet . . . . (Remember the days when you had to learn Latin in High School?)

And now the Wheel Turns . . . and we are worried about widespread bank failures.

You have to ask, what would have to be happening in the world for your $20,000 not to be safe in a bank? Just what level of CRASH are you preparing for? Is it going to be 25% unemployment like the Great Depression? Or rich people using their jewelry to buying cabbages from the farmers, as in the Weimar crash? Or The Road?
Different potential scenarios require different strategies . . . place your bets, Ladies and Gentlemen.

You are perpetuating some myths that need exploding. Let's look at cyprus. The grab for the cash was the FIRST plan of the troika ( the real government in cyprus) not the last one. when Mr. Jeroen Dijsselbloem ( president of the EuroGroup) gives an on-the-record interview in which he says that the Cyprus bank liquidation is a model for the rest of europe, he is not just expressing a heartfelt wish, but the official policy of the euro-group. They will go for your money first. They will contemplate deposit insurance after the banks have been "recapitalized". Do you think that you are safe because you live in the US?
Caveat Depositor
What has to happen in the world for the Powers That Be to consider confiscating your bank deposit? Answer: not much.

[shiny!]

Re: Cash Hypothetical

You are perpetuating some myths that need exploding. Let's look at cyprus. The grab for the cash was the FIRST plan of the troika ( the real government in cyprus) not the last one. when Mr. Jeroen Dijsselbloem ( president of the EuroGroup) gives an on-the-record interview in which he says that the Cyprus bank liquidation is a model for the rest of europe, he is not just expressing a heartfelt wish, but the official policy of the euro-group. They will go for your money first. They will contemplate deposit insurance after the banks have been "recapitalized". Do you think that you are safe because you live in the US?
Caveat Depositor
What has to happen in the world for the Powers That Be to consider confiscating your bank deposit? Answer: not much.

U.S. banks have already put restrictions on how much cash we can withdraw on a given day without prior notice. If you want to get your cash out of a bank you have to call ahead to make arrangements or start making small withdrawals far in advance.

[don]

Re: Cash Hypothetical

My mother was about 17 yo when the Great Depression hit . . . and the bad times stuck around for 10 years. When she died at the age of 91, we were surprised to find that she had money in about 20 different bank accounts. She also kept $20,000 in a drawer. Experientia docet . . . . (Remember the days when you had to learn Latin in High School?)

And now the Wheel Turns . . . and we are worried about widespread bank failures.

My father was a kid during the Depression. His father, my grandfather, never would accept a checking account. Was strictly a cash man. There were always rumors there must be cash pockets hidden around the grounds after he passed . . . .

[doom&gloom]

Re: Cash Hypothetical

How do you remember where you put the cash after a couple of years?
The upside: you pass away suddenly and someone ends one day very happy finding the bills

I got a memory like a steel trap -- nothing gets in, nothing gets out!

[doom&gloom]

Re: Cash Hypothetical

U.S. banks have already put restrictions on how much cash we can withdraw on a given day without prior notice. If you want to get your cash out of a bank you have to call ahead to make arrangements or start making small withdrawals far in advance.

This is because your avge local branch bank has about $30-40k on hand every day. You come grab $20k unannounced and they may actually run out of cash by days end.

[BadJuju]

Re: Cash Hypothetical

This is because your avge local branch bank has about $30-40k on hand every day. You come grab $20k unannounced and they may actually run out of cash by days end.

I can testify to this. On particularly heavy days where businesses make large withdrawals, my mom's bank will get close to being out of cash.

[globaleconomicollaps]

Re: Cash Hypothetical

You are perpetuating some myths that need exploding. Let's look at cyprus. The grab for the cash was the FIRST plan of the troika ( the real government in cyprus) not the last one. when Mr. Jeroen Dijsselbloem ( president of the EuroGroup) gives an on-the-record interview in which he says that the Cyprus bank liquidation is a model for the rest of europe, he is not just expressing a heartfelt wish, but the official policy of the euro-group. They will go for your money first. They will contemplate deposit insurance after the banks have been "recapitalized". Do you think that you are safe because you live in the US?
Caveat Depositor
What has to happen in the world for the Powers That Be to consider confiscating your bank deposit? Answer: not much.

Ahem...
http://www.telegraph.co.uk/finance/f...k-failure.html

[Slimprofits]

Re: Cash Hypothetical

Put all $20k on Louisville to win the title