[Bwinter714]

I don't know what the right answer for you is, but what I will say is that if you take paper money from your bank to convert it into whatever, keep it under $10k in a transaction.

In 2019 when stuff started getting weird, I went to my bank to have cash on hand. I was determined to not re-live 2008 all over again. I went and asked to withdraw $10k. This was a local bank in Maine, and people looked out for each either. The teller looked at me and said "for cash transactions of $10k or more I need you to fill out this form so we can send it to the IRS". Now I wasn't going to do anything nefarious with the money, I just wanted to have it because like I said, stuff was getting weird. However, it's not the governments business if I want $1M in dimes so I can swim in it like Scrooge McDuck. It's my money, taxes were paid so FO. So, I remembered right then and said I forgot that the boat I wanted the money for was only $9900, and that's all I needed. And went on my way a few minutes later. And the next day, I saw another deal on a boat I couldn't pass up, and you guessed it, for the same low price!

So take it as you will, I personally wouldn't have cared if the IRS knew I was taking the money out, because it was ordinary saved income that was taxed and traceable. But, it was one less government agency to be notified of a transaction like that. They know anyway. The FDIC knows what each and every person with a US bank account has. What they would want/could do with that info I don't know, but I'm not going to purposely rise to the top of their list to find out if SHTF.

Brian

 

[USARV72]

IRS gets a report on $600 and above. Used to be a $10K limit, then to $5K, $3K and wal la, now $600…

 

[longarm]

Yeah, must be "inflation"

 

[Bwinter714]

Really? Is that recent? A whole $600? Well that's actually probably not a terrible thing, because the amount of transactions being reported are probably in the tens of millions a year now. So, it dilutes the pool so to speak.

For a modern company with modern software it would be a problem because it'd be trivial to pick out the outliers you want to keep tabs on, but the IRS still uses COBOL and it isn't exactly and easy system to just make a change. But, I haven't done work for the IRS so I could be talking out of my ass, my engineering expertise lies elsewhere.

 

[azguy1911]

Cash, cash and cash.

US dollars will be taken until hell freezes over, people suggesting gold and silver are funny.

 

[Swift1]

Cash, cash and cash.

US dollars will be taken until hell freezes over, people suggesting gold and silver are funny.

View attachment 673655

Unless the corrupt scum manage to make it E Money with no actual currency. Then we all are at their mercy. Social credits anyone? A couple of keystrokes is all it would take. to ruin even Elon

 

[kenenz]

I like Bitcoin

 

[Kendel58]

Lots to think about here, guys. Thanks for the discussion.

 

[maxwayne]

Ammunition may be the currency of the future.

 

[Swift1]

Ammunition may be the currency of the future.

The conundrum, of course, is what sale is safe. A well placed 22 LR will do the trick and your customer has it all.

 

[mkk41]

gold. find a local coin shop and pay cash..

Right! Because everyone will be running around with a digital scale and file!

The barter or trade system will be the way to go.

 

[ether]

The conundrum, of course, is what sale is safe. A well placed 22 LR will do the trick and your customer has it all.

Years and years ago, for a short time, I had a step-dad that was a financial advisor/stock broker. He never did much for me, but he was a good "horse trader", and he was pretty good at judging the value of things in just about any market. He's the kinda guy that you wanted around helping negotiate your trade-in or sale of a used car.

He wasn't a "gun guy", but he knew that I was, and I'll never forget one thing that he said to me. He says to me, he says, "If things ever go that south, pound-for-pound .22LR will be the most valuable and sought-after ammo. And it could be a real commodity." And he was right. Because, years later, we've already seen some of that.

 

[USMM guy]

I picked up another book today. These two guys have some pretty good observations to share. Of course that assumes that anyone here is actually interested. I actually am interested in what these guys have to say. Oh and I did not buy the Kindle version either.

 

[ether]

I picked up another book today. These two guys have some pretty good observations to share. Of course that assumes that anyone here is actually interested. I actually am interested in what these guys have to say. Oh and I did not buy the Kindle version either.

Cmon, I thought you already wrote that book. What are you doing buying it? Give it to me

 

[kje54]

If it's a complete collapse of modern civilization then salt will be worth more than gold. Not only for food preservation but also for medical and other applications.

 

[ether]

Salt is worth a lot when you can't get it. Ask Ghandi.

Currency makes trade more or less "equal" or "fair". You don't want to be the one pouring in 100 units of your hard work (or money) just to "buy" someone else's 50 units if you can help it.

 

[NonHyphenAmerican]

I don't know what the right answer for you is, but what I will say is that if you take paper money from your bank to convert it into whatever, keep it under $10k in a transaction.

In 2019 when stuff started getting weird, I went to my bank to have cash on hand. I was determined to not re-live 2008 all over again. I went and asked to withdraw $10k. This was a local bank in Maine, and people looked out for each either. The teller looked at me and said "for cash transactions of $10k or more I need you to fill out this form so we can send it to the IRS". Now I wasn't going to do anything nefarious with the money, I just wanted to have it because like I said, stuff was getting weird. However, it's not the governments business if I want $1M in dimes so I can swim in it like Scrooge McDuck. It's my money, taxes were paid so FO. So, I remembered right then and said I forgot that the boat I wanted the money for was only $9900, and that's all I needed. And went on my way a few minutes later. And the next day, I saw another deal on a boat I couldn't pass up, and you guessed it, for the same low price!

So take it as you will, I personally wouldn't have cared if the IRS knew I was taking the money out, because it was ordinary saved income that was taxed and traceable. But, it was one less government agency to be notified of a transaction like that. They know anyway. The FDIC knows what each and every person with a US bank account has. What they would want/could do with that info I don't know, but I'm not going to purposely rise to the top of their list to find out if SHTF.

Brian

Interestingly enough, it's a Federal Felony to conduct "Structured Withdrawals" in order to avoid reporting to the IRS.
It's also a Federal Felony to conduct "Structured Deposits" for the same reason.

It doesn't matter that it's YOUR money that you want to deposit or withdraw in cash, it's still a Federal Felony and if the IRS determines that they think you've been doing this, they can freeze all of your financial assets.

A person convicted of cash structuring would face substantial fines and up to five years in prison. Cash structuring can lead to additional felony charges. The government may also tack on tax evasion charges in addition to cash structuring.

 

[FDM1]

$10,000 is just not that much money in a real emergency especially with a family. Use your imagination on how to store it. $50s and $100’s. The real threat is fire, so give it some thought. Try selling your gold for what you paid for it…. good luck.

 

[NonHyphenAmerican]

$10,000 is just not that much money in a real emergency especially with a family. Use your imagination on how to store it. $50s and $100’s. The real threat is fire, so give it some thought. Try selling your gold for what you paid for it…. good luck.

Actually, most of my gold is at an average of $600 per toz. The average for my silver is about $6 per toz.

According to KITCO, Gold is at $1989.30 and Silver is at $22.60.
The all time high for Gold is $2067 and Silver is $50.35 toz.

 

[FDM1]

Actually, most of my gold is at an average of $600 per toz. The average for my silver is about $6 per toz.

According to KITCO, Gold is at $1989.30 and Silver is at $22.60.
The all time high for Gold is $2067 and Silver is $50.35 toz.

You bought at good prices.