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Re: Cold Hard Cash
Old 06-22-2006, 11:13 AM   #41
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Re: Cold Hard Cash

Quote:
Originally Posted by ladelfina
Over 200,000 for part of our house purchase.
A glass of water, a pack of smokes, and 200k in cash? You sure you aren't involved in some other money-making enterprise?
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Re: Cold Hard Cash
Old 06-22-2006, 11:17 AM   #42
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Re: Cold Hard Cash

Water? With that kind of jack on the table, it better be vodka!

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Re: Cold Hard Cash
Old 06-22-2006, 11:45 AM   #43
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Re: Cold Hard Cash

Quote:
Originally Posted by rw86347
I might be carrying 1K-3K on me for work, and for that reason I also carry a .357 Mag under my shirt.
Moving money or product for your boss, ladelfina?

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Re: Cold Hard Cash
Old 06-22-2006, 12:09 PM   #44
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Re: Cold Hard Cash

Quote:
Originally Posted by ladelfina
Over* 200,000 for part of our house purchase. It seemed like monopoly money.
Why would anyone take cash to a closing? Bank draft maybe......
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Re: Cold Hard Cash
Old 06-24-2006, 06:51 PM   #45
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Re: Cold Hard Cash

back in the old county in asia, our parents got tons of cash around the house, nobody at that time trust the bank or the government. my parents limits themself to about 2 trunk of cash then convert them to gold...

well, gold continues to increase in values and cash declines fast. i don't see that much changes since we came here in the US.

for us, we got around 5 to 10k around the house... oopss i better not tell u where we live.

enuff
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Re: Cold Hard Cash
Old 06-24-2006, 06:55 PM   #46
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Re: Cold Hard Cash

as was not uncommon back then, my MIL used to put cash in the walls both for "safe" keeping and for insulation ... don't imagine it worked well for either purpose.
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Re: Cold Hard Cash
Old 06-24-2006, 07:29 PM   #47
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Re: Cold Hard Cash

Too funny .... there was a case in NH where 3 MA roofing contractors found a stash of antique bills in a barn. Reports pegged the find ~$100k due to the age and condition of the bills. Landed them all in jail as they tried to keep the stash.

Guess many didn't trust the early banks.
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Re: Cold Hard Cash
Old 06-24-2006, 08:41 PM   #48
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Re: Cold Hard Cash

got a question for all u folks that trust the bank in the USA.

back in the old country, in the old days, our banking system also had something similar like" FDIC" that guarantte a certain amount of your money if the bank ever went bankrupt, almost like the USA, however when the whole country collapsed and the government "all meshed up" like Iraq, NOBODY gets anything period.


for example, (stupid example) company X guarantee flood insurance for a particular house at address B, it's all nice and dandy when your house is only house that got flooded and the insurance will pay for the damages BUT what happens when the entire county and the next 12 neighboring counties in my state got flooded then WHO paid... you're NOT the only "sad" story in town. there are 100,000 thousand houses in the same situation... then What?? oh, BTW company X just filed "bankruptcy".

this is why the Asian people DO NOT trust the bank and i guess it's in my blood a little bit too. it happened to my parents in a "solid" government situation. who to say something like that will not happened in the USA

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Re: Cold Hard Cash
Old 06-24-2006, 08:51 PM   #49
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Re: Cold Hard Cash

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who to say something like that will not happened in the USA
it could, but i judge it to be unlikely. were it to happen, any currency would likely be worthless, so it makes no sense to keep currency.* gold might hold its value, but in severe circumstances i'm not overly confident you could easily trade or sell it.* holding cash is not without significant risk, nor is holding gold. indeed, i suspect there is no riskless asset.
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Re: Cold Hard Cash
Old 06-24-2006, 10:17 PM   #50
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Re: Cold Hard Cash

Hmmm

Call me provincial but I trust the American financial system vis a vis the rest of the world. (even with Depression era parents).

BUT - here is the biggie - the American dollar trades openly on the world market along with other currencies. So - if you are planning to spend time abroad or for plain old diversification reasons - formulating a defense might be in order.

Gold is the classic historical defense. Foriegn stock, some of the newer commodity related (PCRIX Type stuff) products produced by Wall Street, etc have been proposed.

I don't have the answer - but were I to move overseas, I would be much more internationally diversified than I am now.

heh heh heh -?
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Re: Cold Hard Cash
Old 06-25-2006, 01:09 PM   #51
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Re: Cold Hard Cash

Quote:
Originally Posted by rw86347
I might be carrying 1K-3K on me for work, and for that reason I also carry a .357 Mag under my shirt.
Big shirt?
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Re: Cold Hard Cash
Old 06-25-2006, 02:48 PM   #52
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Re: Cold Hard Cash

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Originally Posted by Enuff2Eat
for us, we got around 5 to 10k around the house... oopss i better not tell u where we live.
enuff
Too late. With the power of internet and the tracking capability of google, I have location your lovely abode and will be scheduling a visit there shortly. Can you also leave some milk and cookies, Santa Klaus gets hungry during a heist, 8)
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Re: Cold Hard Cash
Old 06-25-2006, 04:19 PM   #53
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Re: Cold Hard Cash

Quote:
BTW company X just filed "bankruptcy".
I've noted that the insurance co. have gotten pretty creative at covering thier rears. All renewals in the last 5 years have a "terrorism disclaimer" ... of course for an added fee you can insure against "terrorism". No word on if domestic events fit the definition ... but the ins. co. is all too happy to assign a fee to the risk.

Also many were surpirsed during the 100 year floods here last month that flood ins is separate.

So good ol'fashion capitolism will take care of itself.
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Re: Cold Hard Cash
Old 06-25-2006, 07:23 PM   #54
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Re: Cold Hard Cash

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many were surpirsed during the 100 year floods here last month that flood ins is separate.
no one should be surprised about their insurance coverage ... unless, of course, they've been blindly paying-out hundreds of $ every year and could never be bothered to read what it is they have been paying for.
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