Unless You Want to Go to Prison, Read This Before Taking Money Out of Your Bank
George Soros won’t go to prison for taking his money out of the bank, but you could, if you are not very careful.
In response to yesterday’s article which detailed how it is a good idea to monitor George Soros’ money movements, because they are predictive of future economic collapses as they have been so many times before. We should all be more a little more than nervous when Soros, in the first quarter of 2014, removed his money from three megabanks.
“Rick” wrote to me following the publication of yesterday’s article with some very pointed concerns and questions. Here is his response:
“Ok, the idea of removing your money from the bank for me is a joke! I have a substantial amount in 3 different accounts. It’s VERY difficult to remove more than $8,000 or $9,000 at a time without extreme scrutiny from the IRS and the DEA. Plus, the banks will tell you that frequently they don’t have enough on hand to give you even $8,000. If you close your account, guess what? They give you a check, NOT cash! So you have to go to another bank WITH A CHECK once more!
So, how does one remove their money from the bank without causing major transaction reports to be filed with the government about your banking activities????
Dave, thus, please give us tips on how to remove substantial amounts of cash without incurring the wrath of the government, and how to take out large amounts of cash to begin with, as the banks discourage taking out more than $1,000 to $3,000 dollars in any given transaction.”
At first glance, Rick appears to be correct. The odds are stacked against all average depositors. With all that is available to read on this topic, it is mind boggling regarding how few people are preparing to act to preserve what assets they have remaining by not removing their money from the bank. Because you have put your money in the bank, you no longer own your money.