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Started By
Message
re: Banks Blocking Large Withdrawals without Proof of "Spending Need"
Posted on 1/27/14 at 6:56 pm to Homesick Tiger
Posted on 1/27/14 at 6:56 pm to Homesick Tiger
quote:Go to a casino in Louisiana. They are required to keep insane amounts of cash on hand to cover possible gaming losses. At the Horseshoe in Bossier City we used to count the 10,000 $100 bills on display as $1 million of cash on hand toward meeting our regulatory required cash. Even though the bills were in laminated display cases that would have taken literally days to crack open without the right equipment.
Then where do they keep it?
1
Posted on 1/27/14 at 7:12 pm to Poodlebrain
Casinos have to carry certain percentage of the chips they have on the floor at any given time. I want to say they have to have the cash to cover every chip actually.
Hell, in the high roller room at the Seminole Hardrock here, they have about a dozen BJ tables that have 1-2 full rolls of $5k chips on a busy night. Hundreds of them, which probably a couple of million in just $5k chips at a fraction of there total tables.
Hell, in the high roller room at the Seminole Hardrock here, they have about a dozen BJ tables that have 1-2 full rolls of $5k chips on a busy night. Hundreds of them, which probably a couple of million in just $5k chips at a fraction of there total tables.
This post was edited on 1/27/14 at 7:16 pm
Posted on 1/27/14 at 7:22 pm to Tiger n Miami AU83
quote:Wait! What?!?
they have about a dozen BJ tables
Oh.
Never mind.
Posted on 1/27/14 at 8:26 pm to LSURussian
I hate banks!
Posted on 1/27/14 at 8:28 pm to Revelator
quote:
Russian babies cost 50k? You could probably but a Russian bride for much less?
Why would I want a Russian bride?
Posted on 1/28/14 at 12:21 am to LSUGrrrl
Did you have to declare the $50K at any US airport? Wouldn't this show up on the TSA scanner?
Posted on 1/28/14 at 1:04 am to LSUGrrrl
Real question LSUgrrl. Is it less expensive to adopt a foreign baby than a domestic one? Is there a shortage in the US? Is it a supply/demand thing? I have wondered why people go to such far away places to adopt a child.
Posted on 1/28/14 at 4:49 am to bencoleman
quote:
This has been going on a while, I tried to take 12,ooo to buy a truck and they would only give me 9,999.00. I had to write a check for the rest.
I may be mistaken but this is a result of the war on drugs. I had a customer pay me about $23K in cash once...seriously in paper bags...and I had a helluva a time depositing it in the bank...this was in the early 90's. I had to sign an affidavit stating where and who the money came from. Dude was a well known drug dealer in the Atlanta area and was remodeling a bunch of section 8 housing of all things. I never took that much cash from him or any other customers again.
Interesting part to this story...I was paid on the job site....in a part of Atlanta that is not particualarly where you want to find yourself broken down at night. Everyone in and around that complex knew that this guy carried wads of cash on him and that he had just paid me....yet I never gave it a moments thought until someone asked me if I had lost my mind for carrying that kind of cash in the neighborhood...I guess someone really does look after fools and drunks LOL....
Posted on 1/28/14 at 4:52 am to bencoleman
quote:
This has been going on a while, I tried to take 12,ooo to buy a truck and they would only give me 9,999.00. I had to write a check for the rest.
The state can also confiscate that amount of money without any reason. All they have to do is claim they suspect it is drug money and you will have a helluva time getting it back.
I won a little over $10K shooting craps in a Tunica casino years ago and they were willing to pay me out in cash but I declined....who needs that sort of IRS scrutiny???
Posted on 1/28/14 at 5:48 am to LSUGrrrl
quote:
Why would I want a Russian bride?
To do the housework?
Posted on 1/28/14 at 6:41 am to LSUDropout
quote:
It's the highest cash transaction you can have without having to submit an CTR (Currency Transaction Report) to the IR. It's actually $10,000 as the CTR is required for transactions OVER 10k, so 10,000.00 wouldn't require one, but 10,000.01 would. ETA: Breaking up transactions to avoid a CTR is against the law.
Actually the CTR has nothing to do with the IRS. CTR's are filed with FinCEN at the Treasury. CTR's were designed to combat money laundering, and not necessarily for tracking tax evasion.
Posted on 1/28/14 at 6:53 am to germandawg
quote:Back in the 80s, a friend sold a Beechcraft Bonanza for ~$42k. The buyer paid in cash. (He owned the local foundry so I think he was legit) They put a sheet of plywood on two saw horses in the back of the hangar and counted it out. After they finished counting, I asked if they wanted me to crank the Bonanza up to hear it idle.
I had a customer pay me about $23K in cash once...seriously in paper bags..
It would have been the stuff of dreams. $20 bills floating everywhere.
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