Cash deposit fee / Wells Fargo Business banking

[Lord M((Squared))]

Gold is nothing more than another commodity and the Gold Standard is flawed.
If an inch is an inch and a gallon is a gallon and a mile is a mile and they are all Standard Units of Measure that never change then how can Gold be any kind of Standard Unit of Measure when its value changes?
In my opinion Gold as a hedge against anything is nothing more than the greatest con man's pitch in history with Bitcoin right behind it.
Just my opinion.

Say what you want about Gold......won't change the fact that it will continue to be the standard for what all future digital and paper currency will be backed by.

 

[motormonkey]

It’s the natural progression of zero percent interest rates and the practical application of negative interest rates..

Negative interest rates occur when borrowers are credited interest rather than paying interest to lenders. With negative interest rates, banks charge you interest to keep cash with them, rather than paying you interest.

Exactly. I've said it before, interest rates needed to climb when economy was strong. Now we are heading full steam into inflation. The stock market is flying high as its a place to park money.

 

[BONER]

Gold? Didn't Roosevelt buy all the gold back at one point?

 

[ChumpChange]

I think I’d just tell them.. why the he’ll do I have to pay you to put money in your bank so you can lend it to others and make money off my money?

waive it forever or see those big accounts with the commas? They will go down the street.

Cash is expensive for banks. All the money in the branches in dead investment money for the bank. It's nothing but a service. If I have too much in the branch, it costs me money, if I have too little and run out, it costs me money. Its a dancing game.

Also, cash takes dual custody. Not in the drawer but anywhere else. Shipping out? Dual verification. Selling to the vault? Dual verification. Checks are checks. Only takes one person so much less expensive to process.

 

[Kachina26]

I wouldn't pay that fee. I'd just keep the cash.


What pisses me off is that I can't sit with a banker in private to make a large cash withdraw. They make you go to the teller in front of everyone and announce loudly what you're doing.

They tried giving me some crap about having to put in an order for cash 1 week in advance. I told them to cut me a cashiers check for all my deposits so I could go bank somewhere else and they gave me the cash I wanted.

I would have cashed out afterwards. When I told them to fuck off back in 02, I'd already opened an account elsewhere. They told me how hard it would be to change everything over, blah blah blah. I told them I'd already handled it and to cut me a check.

 

[Englewood]

I don't understand why any of you with and sort of financial success would bank at a National Bank. I do all of my banking at a business bank and can speak to the VP at any time. These big banks don't give a F about you or your money.

 

[ChumpChange]

I don't understand why any of you with and sort of financial success would bank at a National Bank. I do all of my banking at a business bank and can speak to the VP at any time. These big banks don't give a F about you or your money.

THE VP? Or a VP. Corporate titles at most banks are handed out like candy until you get to Senior levels.

 

[COCA COLA COWBOY]

Is it the norm for banks to charge a business a fee to deposit cash? That really rubs me the wrong way, Wells does it, do other major banks so the same? Roughly about $75 to deposit $7500 cash that a guy gave me for a boat.

I'll cut you a good check from my corporation for $7500 for the cash. I've had more hard times getting cash out of the bank then when I give it to them.

 

[Instigator]

Say what you want about Gold......won't change the fact that it will continue to be the standard for what all future digital and paper currency will be backed by.

Gold isn't currently any kind of Standard of any currency, paper, digital or otherwise.
Lol
Opinions are like assailed, everyone has one.

 

[hallett21]

I don’t deposit cash


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[Lord M((Squared))]

Gold isn't currently any kind of Standard of any currency, paper, digital or otherwise.
Lol
Opinions are like assailed, everyone has one.

Well the US dollar is currently in a free fall and in jeopardy of loosing it's status as the world reserve currency. You can't print money out of thin air.....same people who want you to believe that 2+2 can = 5 seem to also be the ones who think that you can make money by printing it. If there isn't anything backing the dollar like oil or when country's are no longer required to do energy transactions in US dollars, they {the dollars} become worthless....not an opinion just a fact. Exactly why China is maneuvering their currency to replace the dollar as the new world reserve currency and the very reason the CCP has been buying up all precious metals and especially gold. Having large gold reserves is a major factor in backing whatever that country's paper currency is. The US had a place once called Fort Knox in KY that was the storage facility for the nations gold.....rumor has it, there's not much left but once upon a time it was full!

 

[BONER]

Gold is not bullet proof either.

Roosevelt's Gold Program

Explore the Federal Reserve's history

www.federalreservehistory.org

 

[pronstar]

Gold is not bullet proof either.

Roosevelt's Gold Program

Explore the Federal Reserve's history

www.federalreservehistory.org

Considering Warren Buffet has dumped bank and airlines, and is buying gold mines, tells me that gold might be on the rise.


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[BONER]

Considering Warren Buffet has dumped bank and airlines, and is buying gold mines, tells me that gold might be on the rise.


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Possibly. Maybe he's got a plan to control it? All I'm saying is, no currency is really safe from decapitation, as long as the Gov't controls it. I didn't say you can't currently make money on it.

 

[pronstar]

Possibly. Maybe he's got a plan to control it? All I'm saying is, no currency is really safe from decapitation, as long as the Gov't controls it. I didn't say you can't currently make money on it.

Totally agree.

Usually big investors aren’t looking to make money from gold appreciating, so much as hedging it against inflation.

Buffet spent years bad-mouthing gold, and is known for buying businesses. So it’s interesting that he’s suddenly and quietly interested in gold mines.

Pretty sure he sees some sort of shake-up on the horizon.


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[Enen]

Gold isn't currently any kind of Standard of any currency, paper, digital or otherwise.
Lol
Opinions are like assailed, everyone has one.

Gold is to currency what Latin is to western languages. One can make the point that Latin is a dead language, yet both the medical field and the legal field use Latin daily. English is rooted in Latin, so is Spanish, and French, etc.

Gold IS the standard by which currency prices are measured. When the price of gold goes up in US Dollars, one of the primary factors in that price increase is the value of the currency you would purchase gold with (US Dollar) goes down. There are other factors that contribute to price fluctuations, but the value of the currency is a huge consideration.

 

[Enen]

Totally agree.

Usually big investors aren’t looking to make money from gold appreciating, so much as hedging it against inflation.

Buffet spent years bad-mouthing gold, and is known for buying businesses. So it’s interesting that he’s suddenly and quietly interested in gold mines.

Pretty sure he sees some sort of shake-up on the horizon.


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Have you seen the meeting minutes from the recent Fed meeting in Jackson Hole. They literally said inflation is coming.

 

[motormonkey]

Inflation is all ready here.

 

[Enen]

Well the US dollar is currently in a free fall and in jeopardy of loosing it's status as the world reserve currency. was full!

This is such an important point that most people don't fully grasp. The British Pound was the World Reserve Currency and lost that status to the US. Dollar. That effectively neutered the British Empire.
The rumor mill is that the Yuan and the Euro want to be the WRC. I believe this is really why we are seeing the "protests" around the country. It creates the optics that the United States is politically unstable. Combine that with the Fed's reckless monetary policy and the assault on the petrodollar by Russia and Saudi Arabia, and you can see how this creates the space to have the conversation about moving the WRC to a different currency.

This is a very real consideration that has ramifications that are unfathomable to most. Goldman Sachs warned about this in July.

Goldman Warns the Dollar's Grip on Global Markets Might Be Over

Goldman Sachs Group Inc. put a spotlight on the suddenly growing concern over inflation in the U.S. by issuing a bold warning Tuesday that the dollar is in danger of losing its status as the world’s reserve currency.

www.bloomberg.com

 

[BONER]

Have you seen the meeting minutes from the recent Fed meeting in Jackson Hole. They literally said inflation is coming.

Got a link?

 

[motormonkey]

I don't think the Yuan will win. The Euro still has to make it thru Brexit.
I remember being told that nothing was as sound as the pound. That went well. Haha.

 

[pronstar]

Have you seen the meeting minutes from the recent Fed meeting in Jackson Hole. They literally said inflation is coming.

I haven’t read it, but I’m not surprised by that statement.


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[pronstar]

Inflation is all ready here.

Absolutely, asset prices are through the roof.


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[BONER]

This is such an important point that most people don't fully grasp. The British Pound was the World Reserve Currency and lost that status to the US. Dollar. That effectively neutered the British Empire.
The rumor mill is that the Yuan and the Euro want to be the WRC. I believe this is really why we are seeing the "protests" around the country. It creates the optics that the United States is politically unstable. Combine that with the Fed's reckless monetary policy and the assault on the petrodollar by Russia and Saudi Arabia, and you can see how this creates the space to have the conversation about moving the WRC to a different currency.

This is a very real consideration that has ramifications that are unfathomable to most. Goldman Sachs warned about this in July.

Goldman Warns the Dollar's Grip on Global Markets Might Be Over

Goldman Sachs Group Inc. put a spotlight on the suddenly growing concern over inflation in the U.S. by issuing a bold warning Tuesday that the dollar is in danger of losing its status as the world’s reserve currency.

www.bloomberg.com

Cool article.

 

[motormonkey]

Absolutely, asset prices are through the roof.


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What's even crazier is the amount of depreciating assets that have been aquired with low interest loans. The market will be flooded at some point.
Great time to own rentals if they stop the deferd rent program.

 

[Enen]

Got a link?

I'll link up the Fed meeting minutes shortly. Here is one to watch in the meantime.

 

[EmpirE231]

I don't understand why any of you with and sort of financial success would bank at a National Bank. I do all of my banking at a business bank and can speak to the VP at any time. These big banks don't give a F about you or your money.

we'll be switching from wells very soon...... what business bank do you recommend in the socal area?

 

[EmpirE231]

This is such an important point that most people don't fully grasp. The British Pound was the World Reserve Currency and lost that status to the US. Dollar. That effectively neutered the British Empire.
The rumor mill is that the Yuan and the Euro want to be the WRC. I believe this is really why we are seeing the "protests" around the country. It creates the optics that the United States is politically unstable. Combine that with the Fed's reckless monetary policy and the assault on the petrodollar by Russia and Saudi Arabia, and you can see how this creates the space to have the conversation about moving the WRC to a different currency.

This is a very real consideration that has ramifications that are unfathomable to most. Goldman Sachs warned about this in July.

Goldman Warns the Dollar's Grip on Global Markets Might Be Over

Goldman Sachs Group Inc. put a spotlight on the suddenly growing concern over inflation in the U.S. by issuing a bold warning Tuesday that the dollar is in danger of losing its status as the world’s reserve currency.

www.bloomberg.com

I agree with what you're saying... and worry about the dollar no longer being the reserve currency.

But all the other countries you mentioned have just as big / if not bigger problems than we do when it comes to unrest and debt.

so the big question is, CAN the world get off the dollar.... and if they do, what will it be? I don't see it being another nations currency.

 

[2FORCEFULL]

Put it in a safe. Cash is king....


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I don't know about that,... were headed towards Germany ww1 where a wheel barrow full won't buy a loaf of bread..

 

[BONER]

I agree with what you're saying... and worry about the dollar no longer being the reserve currency.

But all the other countries you mentioned have just as big / if not bigger problems than we do when it comes to unrest and debt.

so the big question is, CAN the world get off the dollar.... and if they do, what will it be? I don't see it being another nations currency.

It's going digital. Soon. Mark my words.

 

[D19]

Bumped this thread because I read a new disclaimer on my latest business account statement about a fee for cash deposits over $5,000 per period. LOL So stupid. They are conditioning us away from cash.

I agree with what you're saying... and worry about the dollar no longer being the reserve currency.

But all the other countries you mentioned have just as big / if not bigger problems than we do when it comes to unrest and debt.

so the big question is, CAN the world get off the dollar.... and if they do, what will it be? I don't see it being another nations currency.

The United Nations will solve that problem unfortunately. Aka the NWO.

 

[WhatExit?]

This thread is like this year. Depressing as all hell and I fear the worst is yet to come...

 

[2FORCEFULL]

Cash is expensive for banks. All the money in the branches in dead investment money for the bank. It's nothing but a service. If I have too much in the branch, it costs me money, if I have too little and run out, it costs me money. Its a dancing game.

Also, cash takes dual custody. Not in the drawer but anywhere else. Shipping out? Dual verification. Selling to the vault? Dual verification. Checks are checks. Only takes one person so much less expensive to process.

I needed a large large cash withdraw yesterday, the credit union said they don't keep that much and it would have to be ordered...mabey 2 to 3 days... they also said that most all of their business was on line with direct deposits..so no more on hand cash...