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People are ‘robbing’ banks in Lebanon – to take their own money

Avalon

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WillA2

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Cigarlover

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How much longer before that's here? I wonder.
Never. We can print all the money we want. I guess I shouldn't say never. As long as we are the reserve currency we get special benefits. Most people in the US dont use cash anyway.
 

Avalon

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Never. We can print all the money we want. I guess I shouldn't say never. As long as we are the reserve currency we get special benefits. Most people in the US dont use cash anyway.
Once we go all electronic its all a irrelevant anyway.
 

Casey Jones

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How much longer before that's here? I wonder.
It won't be commonplace.

Few people have money in banks, now.

Banks....their utility/purpose has changed. They USED to be the institution where savers and borrowers came together - savers to store their money, borrowers to borrow that same money at interest.

That's done now. Banks are now a laundry for QE and other money-creation subterfuges. Banks take ZIRP from the Fed as short-term member loans; plow it into the DOW and other indexed assortments, in house accounts; sell/roll-over, and repay the short-term money, to re-borrow quickly.

All while paying themselves huge commissions, and enjoying the "profits" the bank is showing.

Savers get in the way of this.

So few will have their money in there. Most of those will be elderly and infirm and/or passive. They're not gonna take a Glock and make a withdrawl.
 

TAEZZAR

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With the threat of bail in/bail out, I just keep mine OUT !!!

BANK ROBBERY, BY THE BANK.gif
.gov.gif
 

chieftain

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Fractional reserve banking, the gift that keeps on giving.
 

ZZZZZ

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Lebanon has been an economic basket case for decades. And their banking and political systems are beyond corrupt.
 

Avalon

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It won't be commonplace.

Few people have money in banks, now.

Banks....their utility/purpose has changed. They USED to be the institution where savers and borrowers came together - savers to store their money, borrowers to borrow that same money at interest.

That's done now. Banks are now a laundry for QE and other money-creation subterfuges. Banks take ZIRP from the Fed as short-term member loans; plow it into the DOW and other indexed assortments, in house accounts; sell/roll-over, and repay the short-term money, to re-borrow quickly.

All while paying themselves huge commissions, and enjoying the "profits" the bank is showing.

Savers get in the way of this.

So few will have their money in there. Most of those will be elderly and infirm and/or passive. They're not gonna take a Glock and make a withdrawl.
I still have a lot in the bank. I have been converting to metals and withdrawing cash over the last year. Now I am wondering the wisdom of having too much cash when the conversion to electronic currency happens. I suspect it will go something like this. Bring all your cash in to convert or lose it. Then when you go to convert you will be tagged a drug dealer or terrorist for having so much cash to begin with. I am rethinking my strategy.
 

ZZZZZ

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I still have a lot in the bank. I have been converting to metals and withdrawing cash over the last year. Now I am wondering the wisdom of having too much cash when the conversion to electronic currency happens. I suspect it will go something like this. Bring all your cash in to convert or lose it. Then when you go to convert you will be tagged a drug dealer or terrorist for having so much cash to begin with. I am rethinking my strategy.

The whole thing is tyranny on steroids. As the late great Yogi Berra put it, "If our Founding Fathers were alive today, they'd be rolling over in their graves."
.
.
 

WillA2

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I still have a lot in the bank. I have been converting to metals and withdrawing cash over the last year. Now I am wondering the wisdom of having too much cash when the conversion to electronic currency happens. I suspect it will go something like this. Bring all your cash in to convert or lose it. Then when you go to convert you will be tagged a drug dealer or terrorist for having so much cash to begin with. I am rethinking my strategy.

Yep. Trying to find the balance is not easy. I'm trying to figure it for my family as well.
 

viking

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I still have a lot in the bank. I have been converting to metals and withdrawing cash over the last year. Now I am wondering the wisdom of having too much cash when the conversion to electronic currency happens. I suspect it will go something like this. Bring all your cash in to convert or lose it. Then when you go to convert you will be tagged a drug dealer or terrorist for having so much cash to begin with. I am rethinking my strategy.

Buy more pallets of Tampons with any extra cash.

Then start an EBay business selling them when the time is right.

They’ll never suspect drug dealings or find out about your terroristic intentions that way.
 

Avalon

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Buy more pallets of Tampons with any extra cash.

Then start an EBay business selling them when the time is right.

They’ll never suspect drug dealings or find out about your terroristic intentions that way.
I have moved on... I'm going to open a stock trading account and put some cash in there and wait for the bottom to fall out and then buy a few stocks. Maybe some miners too. Then I am going to challenge my brain and try to figure out how to open a crypto account. I will put a little in there. Then I'm not sure.
 

Voodoo

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in Mother Russia the Bank Robs You. Wait....