PDA

View Full Version : I'm not Wells Fargo, but....



clr8ter
19th July 2008, 17:49
I need to move around $10K +- pretty soon. It's in a CD currently, and a lot of it is going into physical silver. Anyone have any suggestions/opinions on how to move it to avoid anyone taking notice of the transaction? Thanks in advance.......

Scrap Metal
19th July 2008, 18:19
Can you just take the cash from the CD and put it in your savings? Keep $1,000 out and make a purchase. Leave the other $9,000 in your savings and then make another $1,000 purchase every now and then. That is how I would handle it.

Another option is to take an amount below the $10K figure that has to be reported...say, $7K and tell the bank that it is time for a used car. Then take the other $3K in $1K withdrawals over three months.

A few years ago I took $7,000 cash out and went car shopping. No questions were asked.

Tell your coin dealer what you will need a bit in advance so he will have it for you.

Argentum
19th July 2008, 19:03
Humm, I've been moving some rather large amount's here of late ((512b for 10k, and an IRA for 50K, 100k for some other things)) and I'm of the opinion to let them report away, I ain't doing nothing wrong so screw 'em. It is not illegal, immoral, or wrong to move funds in the U.S. to invest for ones financial well being.

That being said, I do realize that poking a bear in the eye is not a wise move. So just pull $9999, leave a buck and your cool. Done it many a time. Or you can just ask them what the max amount for non-reporting is.

skijake
19th July 2008, 19:22
I agree with Argentum's thoughts. It's your money and you aren't doing anything illegal [are you?] I understand THEY are looking at your travel routines, booze purchases, entertainment choices and such anyway. Do what you know is right and let them look. A one shot 10k movement doesn't flag concern anyway. Look at Indymac for confirmation there!

clr8ter
19th July 2008, 20:42
Well, I'm considering a SE Monster Box, and I don't know if that will be doable for under $10K. One part of me says yeah, screw it, let them look, but another part of me says the less the govt. knows about what you do, the better. And, nah, nothing illegal. But thanks for the opinions.

hiyosilver
19th July 2008, 21:37
There's nothing wrong with keeping your business your own, either, and since you frequent this forum, you already know the reasons why.

skijake
19th July 2008, 21:54
Well, I'm considering a SE Monster Box, and I don't know if that will be doable for under $10K. One part of me says yeah, screw it, let them look, but another part of me says the less the govt. knows about what you do, the better. And, nah, nothing illegal. But thanks for the opinions.

Wether you buy diect from the Mint [unlikley] or somewhere else, it sounds like you want to invest in America. While maybe you don't want everyone else to know, wouldn't the Goverment be happy you were using the cash to buy a Goverment approved finacial vehicle? I'm all for revealing as little as possible,but does this fear go too far or am I naive?

balou2
19th July 2008, 22:54
Not sure why you would think the bank would question your use of your own money, or rather, why they should have the right. I agree with all the comments made. Take $9999, do your business and be done with it. Nothing has to be reported until you hit the $10k mark, and that' only a concern if you care. Nothing wrong with it. Have fun!

Drumblebum
19th July 2008, 23:11
Humm, I've been moving some rather large amount's here of late ((512b for 10k, and an IRA for 50K, 100k for some other things)) and I'm of the opinion to let them report away, I ain't doing nothing wrong so screw 'em. It is not illegal, immoral, or wrong to move funds in the U.S. to invest for ones financial well being.

That being said, I do realize that poking a bear in the eye is not a wise move. So just pull $9999, leave a buck and your cool. Done it many a time. Or you can just ask them what the max amount for non-reporting is.


DO NOT ASK THEM WHAT THE MAX AMOUNT FOR NON-REPORTING IS. Willfully attempting to avoid reporting requirements is a crime in and of itself! DOING THIS WILL GET YOU REPORTED AND THE FEDS WILL BE ASKING YOU SOME DIRECT QUESTIONS.

I'm all about the government minding its own GD business, but this is one thing they don't compromise on. And you just know some teller is just itching to be a good citizen and report a possible bad guy to the authorities and be a local hero. Wanna spend the money? WRITE A PERSONAL CHECK. It's not considered cash.

Or, wire the funds.

clr8ter
20th July 2008, 07:21
Well, I'm not really concerned on the buying end if they know, but on the selling end, if they do not know, that's better. What silver? I never had any silver.....HintHint.

argentos
20th July 2008, 07:56
There's nothing wrong with keeping your business your own, either, and since you frequent this forum, you already know the reasons why.

Unless you log in from different public computers there is a very good chance that your (insert own country) guvmint already has you flagged.

Guvmints like to keep tabs on dissenters and nowadays they have the electronic means and the staff to do it.

I expect that they undetectably hack into the databases of sites like this and have recorded the IP addresses of the members and maybe the guests.

Here in England we have http://www.gchq.gov.uk/. It is believed they screen all emails and phone text messages for specific words which are then flagged up automatically and further software sorts out stuff for a human bean to look at.




P.S. An old saying: "Just because you are paranoid, it doesn't mean they aren't watching you!"

Drumblebum
20th July 2008, 10:48
Unless you log in from different public computers there is a very good chance that your (insert own country) guvmint already has you flagged.

Guvmints like to keep tabs on dissenters and nowadays they have the electronic means and the staff to do it.

I expect that they undetectably hack into the databases of sites like this and have recorded the IP addresses of the members and maybe the guests.

Here in England we have http://www.gchq.gov.uk/. It is believed they screen all emails and phone text messages for specific words which are then flagged up automatically and further software sorts out stuff for a human bean to look at.




P.S. An old saying: "Just because you are paranoid, it doesn't mean they aren't watching you!"

As I'm sure the citizens of other authoritarian countries became accustomed to over time, I've just learned to assume that every keystroke I make, every call, every text is recorded and analyzed by TPTB. Even this post... (HI SPOOKS!!:p)

Most of the time it doesn't matter - they already know I don't like them, but I'm certainly not the only one. I just know what trips their trigger, and they know I'm no particular threat to what it is they do.

To the spooks: I'm not violent. I am looking out for the well being of my family and other people I care about. I know the difference between RIGHT and WRONG. I will always try to act accordingly, regardless of the consequences. Maybe you should try to do the same.

Argentum
20th July 2008, 12:56
Ah, thanks for that tip Drumblebum. But most times I've had the folks TELL me if I would break up my amount so they wouldn't have to fill all the paperwork out... lol.

I'll admit, sometimes I do have a bad habit of poking bears in the eye... just for spite and to let them know us little guys are still here.

argentos
20th July 2008, 14:09
Silver: Atomic number 47; chemical symbol Ag. Derived from the latin word Argentum, which means "white and shining".



Off topic. I've been looking at http://en.wikipedia.org/wiki/Silver

I'm quite ancient. Am I your dad?


Silver is a chemical element (http://en.wikipedia.org/wiki/Chemical_element) with the symbol "Ag"
(Latin (http://en.wikipedia.org/wiki/Latin_language): argentum, from the Ancient Greek (http://en.wikipedia.org/wiki/Ancient_Greek): αργήντος - argēntos, gen. of αργήεις - argēeis, "white, shining" ).

Drumblebum
20th July 2008, 14:29
Ah, thanks for that tip Drumblebum. But most times I've had the folks TELL me if I would break up my amount so they wouldn't have to fill all the paperwork out... lol.

I'll admit, sometimes I do have a bad habit of poking bears in the eye... just for spite and to let them know us little guys are still here.

I also hear of a lot of people having to field an inquisition about their intentions when they want to withdraw even 2K from their banks. My personal experience is that no matter the size of the WD I make, tellers just smile and ask if there is anything else they can do for me. So I can relate with the idea that some, if not many couldn't care less about "reporting" requirements. It just causes them more work. If you have a good working relationship with the people at your bank then I wouldn't worry about it.

It only takes one jackass with power issues, though, to cause a person a world of grief. Nothing changes the fact that the feds are never happier than when they are up in someone's shite making their life difficult, preferably relieving them of their money and/or liberties.

That's why I say be careful. They are just begging for an excuse.

mick silver
20th July 2008, 17:36
it your money jusy get it out , its yoursssssssssss

argentos
20th July 2008, 17:47
My personal experience is that no matter the size of the WD I make, tellers just smile and ask if there is anything else they can do for me. So I can relate with the idea that some, if not many couldn't care less about "reporting" requirements. It just causes them more work. If you have a good working relationship with the people at your bank then I wouldn't worry about it.





It may well be that the bank's computers automatically compile lists of withdrawals over a certain sum to send to the guvmint, without the teller having to do anything.

If I were bank management and knew I could be prosecuted (or the bank fined, or whatever they do in the USA) for non-compliance, I would certainly have such a system.

UK banks have dedicated Compliance Departments to keep them out of trouble with the regulators.

Argentum
20th July 2008, 19:38
I'm quite ancient. Am I your dad?

Why yes you are, and I'm also the oldest son - first in line for that will!!

argentos
20th July 2008, 19:57
Why yes you are, and I'm also the oldest son - first in line for that will!!


Oh. Err. Ummm.

JesterJay
20th July 2008, 21:52
You guys don't look a thing alike.
Can't be related,
I think Argentum was adopted.
JesterJay



Why yes you are, and I'm also the oldest son - first in line for that will!!

Take a look at both of them. Really? Related? I think NOT!

I'm quite ancient. Am I your dad?

DaveK
21st July 2008, 11:51
But most times I've had the folks TELL me if I would break up my amount so they wouldn't have to fill all the paperwork out.

The government isn't /that/ dumb, they watch for people trying to avoid reporting requirements by breaking up large withdrawals. In fact, since it is exactly that sort of evasive behavior they are interested in you may draw more attention than if you just made your withdrawal normally. I've had tellers in the past inform me that they are instructed to report people who make multiple withdrawals near the reporting limit. I would suppose that is automated now.

I have no idea what heuristics they use to find cheaters, but I suppose you'd be best off by trying to maintain consistent cash flow patterns.

hiyosilver
21st July 2008, 22:39
Write a check to a close friend as a loan...repayable in 5 minutes...