[Ratbag]

I'd heard stories of banks hardly carrying any cash nowdays at all.

Hadn't paid it that much attention until I needed $11K for a vehicle purchase earlier in the year.

I usually deal in cash or bank cheques and pay things outright where I can - I loathe financing and higher purchase and refuse to go there.
If I can't afford something I just don't buy it.

Went to my banks local branch in a decent sized city, had all the applicable I.D. and asked for 11K in cash from my account.

Tellers literally started panicing (no I wasn't wearing a ski-mask).

After 10mins standing at the counter I was told I would have to come back in 30mins as the bank did not have 11K in cash available ($100.00 notes and/or $50.00 notes)

Went back to original branch after 30mins, ... I was asked to come back in another hour - they were having trouble gathering up "that much cash" at short notice.

I rang the main branch about an hour away while I was waiting, to see if they'd be able do come up with the goods, identified myself and asked them about the withdrawl - was told straight out that they don't carry that much cash.

One and a half hours later I was able to pick up my cash from the local branch.

Anyone in New Zealand thinking you are going to be getting any cash out of a bank at short notice if SHTF ... guess again, ... guess again.

Once the ATM/cashpoint machines are tapped out (and most NZ cards have an $800 per day cash limit on them at that) things are gonna get desperate. :xeye:

I'm now working out how to convert ALL my previously bank stored wealth (short of cashflow/company operating capital) into stored tangible assets that cannot be denied or confiscated in a sudden economic collapse or SHTF event.

This was a serious wake up call.

 

[kev1n69]

i purcheced a kubota tractor a year ago and they gave me a funny look but came up with the cash in 5 min. it was funny as they said no paper work was needed as i only took out 10k if it had been 10001 i would have to fill out some form.

 

[Kipper]

Yeah, I have known banks dont carry that much cash for ages.

I think my local bank likes to have 24 hours notice if you want to withdraw more than $5000 or something...

Most of the "money" in the world these days is numbers on a computer, not actual printed out notes

And when it all comes down to it, money is worth nothing anyway...

 

[bridgierapa]

money is worth the promise which backs it up. My mother got a shock a little while ago when I explained to her that the reserve bank no longer keeps gold. Let alone fort Knox. That paper no longer represents one dollar's worth of gold; it represents one dollar's worth of government promise.

:

Land. : Land is favourite. very difficult to misplace, seldom falls out of your pocket when you're down the pub, and is quite frequently the thing burglars leave behind after they do over your house - in fact, you'd be surprised how often they overlook it when they nick everything else...

If you translate your paper $ into something you wish to keep make sure it has an intrinsic value is all I can say. If a thing has intrinsic value it will survive no matter what inflation does. If it has none, for example minature horses : it will bottom out at the first sign of trouble.

.. but thanks kipper, I had no idea cash reserves were that low.

 

[shag]

Bridgie, give me your cash to look after.

It'll be in good hands. :