1. Sorry, we're currently trying to recover from a system failure.
    Hopefully this is resolved soon -melbo
  2. New registrants, please note. There may be some delays as we work out some glitches associated with recovering from the outage. If your approval doesn't come thru in a week, please re-try.

Cash is king

Discussion in 'Financial Cents' started by oil pan 4, Sep 25, 2017.

  1. oil pan 4

    oil pan 4 Monkey+++

    This is the gist of what I'm hearing is going on in the US Virgin Islands.
    Credit card stuff isn't working obviously.

    S has hit the F the USVI is about as hard as it does in the United States and everybody still wants cash.

    I think in light of this I will work towards rebuilding my cash reserves back to 5 digit levels.
  2. DKR

    DKR Interesting ideas, interesting stories

    I've always suggested a 'weeks' worth of cash at home and as much as you might spent in a month (for everything) stored in a bank lockbox. Just remember, in a fire or other case where you might file an insurance claim, cash loss is normally not covered.
  3. oil pan 4

    oil pan 4 Monkey+++

    Yeah my wife made me get a safe deposit box.
    It's only $20 a year for the smallest one.
    The thing is I know you can only get about 20,000 from the bank at one time, if everyone else is trying to get all their money at the same time out you ain't getting squat.
    Actual if you want more than 15,000 cash they want 3 business days notice, f that, what they going to do call their friends at the fbi.
  4. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    I do keep cash at home but not 5 digits worth. I think more than $5,000 would be excessive and asking for trouble. I figure it this way...if we had a bad temporary scenario (like VI), order would be restored asap with the Country, State and Federal resources moving as quick as possible so while necessities would sell for a premium I hardly doubt they could carry that price for long especially with help on the way so I think given my preps I could get by given cash on hand. In a SHTF scenario - well - who will take paper? Well, maybe at first but not for long... Anyway, that's how I see it...
    Homer Simpson and UncleMorgan like this.
  5. BTPost

    BTPost Stumpy Old Fart Snow Monkey Moderator

    If you have your Preps stored properly, for your area, it will still be viable after any Natural Disaster... So, you live off your Preps, until things get stabilized... Then, you don't need near as much CASH, for Diaster Survival, and can use your Cash Reserves, for Unforeseen Things, (Holes in your Preps) that come up until normalcy, gets back on track...(Return to Work, and The Distribution Chain returns)..
  6. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    We keep cash at home, and I like using cash for as much as I can. It "hurts" to spend cash so you are likely to spend less of it. Also, a locally owned store may give you a cash discount (not advertised though). For example, a few years ago my wife's minivan needed the A/C system replaced. Cost was just over $1200, when I came and started counting out 100's, the owner of the shop stopped me at 10 of them and said "That 10 of them?, Good for me, have a great day". I've continued to use that shop and continue to get discounts when using cash.
  7. UncleMorgan

    UncleMorgan I eat vegetables. My friends are not vegetables.

    I keep my cash at home in the high 5 figures, too: $25.00, $35.00, and sometimes even $45.00.

    However, all humor aside...

    No matter what, you're better off with a well-buried piggy bank than a safety deposit box.

    Never put anything you actually want to keep in a bank safety deposit box.

    Some people actually believe that BS about the bank not having a full set of keys to their safety deposit box.

    Of course they do, silly!.

    How else could the banks help the government search all those "suspicious" safety deposit boxes without a warrant?

    Or loot the "abandoned" ones at their pleasure? Even when they're not abandoned?

    It does happen. Google on it.

    And you can just about bet that the one time you most desperately need access to your safety deposit box will be the one time the bank will decide not to be open--for the duration.
  8. Gator 45/70

    Gator 45/70 Monkey+++

    I keep enough Get out of Dodge Cash and silver rounds companion ed with lead to evac.
    UncleMorgan and oldbee1966 like this.
  9. Legion489

    Legion489 Rev. 2:19 Banned

    I thought Elvis is King. Learn something new everyday. By the way, Elvis is not dead, he just went home.
    UncleMorgan, Gator 45/70 and Tempstar like this.
  10. oil pan 4

    oil pan 4 Monkey+++

    Some parts of US Virgin Islands are looking at not having power for 6 months.
  11. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Keep your cash in the Box So you are not on the radar , any 10G movement triggers .
    Slowly add & keep it friggin quite !!!
    Cash @ home under the wifes side will work , but not as much like 5g .

    We / I have cash & coin stored in outback cabins & many are lost to even know how to look for the door to get coin .
    All quite & not spoke about .EVEN IN THE CLAN
    sec_monkey, Tully Mars and SB21 like this.
  12. oil pan 4

    oil pan 4 Monkey+++

    That's the whole point of the deposit box, any amount of cash moves in or out it doesn't get tracked.
    It's better than a savings account.
    UncleMorgan likes this.
  13. Tully Mars

    Tully Mars Metal weldin' monkey

    Was having this debate awhile back with a gent from another board. He couldn't see not being able to use CCs or cash in a SHTF situation. We debated back n forth a bit and I bowed out when it became clear to me he thought I was crazy for stating that a person would be able to purchase a motel room with a gold or sliver coin(s) if needed.
    We keep cash here in the safe along with PMs. I don't keep jack in the bank, at least none in this country. The wife's check is DDed into her account and that's fine for her. I'm the old coot with his shit in rusty mason jars scattered across the country and that's fine for me. Our joint stuff is not in any bank.
    Did I mention I don't trust banks??
  14. Imasham

    Imasham Monkey

    This presumes that no payments of any kind hit your bank account. How are you getting paid for your job? Where is your living income coming from? How you do pay your mortgage or rent or car payment? Are you paid cash for everything? If not then you have to get money out of your account somehow and every transaction is recorded by your bank. Every. One. Whether they report it or not may be a different story. But if ANYTHING triggers a suspicion than they have every transaction you've ever made up to whatever storage limit their company employs. And once any investigators have warrants it will take about 30 minutes or less to do a database search of banks in your area to see if you have accounts or other services such as a safety deposit box. And your physical visits to your box are logged and your image will be on the bank security videos. Have you looked around the deposit box vault to see the cameras?

    If you're wanting to keep money secret...don't put it in a bank. Besides if the bank ever shuts down for whatever reason...how do you get your cash out?
    Idahoser, UncleMorgan, BTPost and 3 others like this.
  15. oil pan 4

    oil pan 4 Monkey+++

    I don't think I have enough money to keep secret yet.
    That problem still resides on the list of problems I wish I had.

    It's a catch 22, if you keep everything secret, then you have to work extraordinary hard to continue to keep everything secret, even if you don't do anything worth keeping secret, if you work hard to keep everything secret that in its self appears suspicious.

    Unless you are breaking the law why not just blend in with everyone else?
    Last edited: Sep 25, 2017
    nathan and UncleMorgan like this.
  16. Cruisin Sloth

    Cruisin Sloth Special & Slow

    G or S for a room ?? nuts in the head , use the worthless paper !!!! or plastic !!
  17. UncleMorgan

    UncleMorgan I eat vegetables. My friends are not vegetables.

    It's easier to be grey than black, and in some ways safer.
    If you're just a little odd, you may get scanned and passed on.
    If you're really odd, you may get scanned and targeted for a deep investigation.

    Have a little money in the bank, and have a little in the ground.
    Go through the motions and look normal enough to blend in with the herd.

    Have a past, even if it's not necessarily all yours.
    Have skills they don't know about.
    Have a future they won't expect.
  18. smithcp2002

    smithcp2002 Monkey++ Site Supporter++

    In cases like in the Islands now, there is no power to run the banks. All the workers are not there. No opening the box.
    Gator 45/70 and sec_monkey like this.
  19. oil pan 4

    oil pan 4 Monkey+++

    With a hurricane you go to the bank some time during the week leading up to the hurricane hitting, when they tell you on the tv and radio that the huricane is coming then you go empty out your box obviously. You don't wait until after its hit, that's stupid. If some one is that stupid they don't deserve access to their money.

    If you live in an earth quake prone area, dont use a safe deposit box.
    Last edited: Dec 14, 2017
    Gator 45/70 likes this.
  20. Tully Mars

    Tully Mars Metal weldin' monkey

    The discussion was centering on after a big quake in the PNW and having to leave the area. By leaving the area the gent was talking a couple hours away. I mentioned that he could most likely get lodging for his family with a coin or two. IIRC his plan was CC's so he didn't use his limited cash reserves, and by that he ment what he was going to pull from an ATM.
survivalmonkey SSL seal        survivalmonkey.com warrant canary