This Happened To Me At My BANK When I Tried To Withdraw Cash...
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- เผยแพร่เมื่อ 25 มี.ค. 2023
- #Gold #silver #bank
/ @365daysofsilver
@365DaysofSilver
In this video, we explore the challenges that many people face when trying to withdraw cash from their bank accounts. We'll delve into the reasons why this process can be so difficult and frustrating, and how it relates to the concept of owning gold and silver as a means of being your own bank.
We'll start by examining the current state of the banking system, and why banks are becoming increasingly resistant to allowing customers to withdraw large sums of cash. We'll also take a look at the historical context of this issue, and why it has become such a hot-button topic in recent years.
From there, we'll explore the benefits of owning physical gold and silver as a means of preserving wealth and protecting oneself against economic uncertainty. We'll discuss how these precious metals can be used as a store of value and a means of exchange, and why they are such a popular choice for those who wish to be their own bank.
Throughout the video, we'll hear from experts in the field, as well as individuals who have had personal experience with the struggles of withdrawing cash from their bank accounts. We'll also provide practical tips and advice for those who are interested in exploring alternative financial strategies, such as owning gold and silver, and becoming their own bank.
So if you're curious about the challenges of getting cash out of a bank, and want to learn more about the benefits of owning precious metals as a means of financial independence, then this video is for you. Join us as we explore this important and timely topic, and discover the power of being your own bank.
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Topics covered in this video:
banking, finance, gold, silver, precious metals, cash, wealth preservation, economic uncertainty, financial independence, store of value, means of exchange, alternative finance, bank withdrawal, financial strategies, personal finance, financial system, economic trends, global economy, investment, asset allocation, monetary policy, inflation, deflation, wealth management, fiat currency, currency devaluation, financial education, financial literacy, monetary history, financial freedom, financial planning, asset protection. - บันเทิง
I tried to do a simple bank transfer last year, 1500 quid to buy a car. I was then transferred to a call centre in the Philippines and asked 10mins of questions which culminated in them asking me for the reg number of the car, which I refused to give. So they cancelled the payment. It was insane to me that to spend my own money I need to give out personal information to a complete stranger in a 3rd world country. I left that bank the next week. It doesn't even matter saying that it was First Direct, because all the banks are doing this now..
Awful, sounds totally crap
I spent 45 minutes when I was putting a deposit down on a boat. It was surreal.
Oof
Should have told them it was for some gambling , whores and some Caine. that would have been an eye opener for her !
Just say you's really dont have the cash in here do you's thats why the questions
This is why I've been withdrawing small amounts of money on a regular basis via ATMs every week or other week for the last 2 years. Also, this is why I usually buy fractional gold, usually 1/4 ounce coins. If I need money, i will sell smaller amounts of gold and the local coin shop should have the cash to exchange with me. I have some 1 ounce coins for larger and less frequent needs.
Nice!
I starting withdrawing december last year. I already got some fractional coins but I find it kinda hard to find a balance between digital/physical cash and gold/silver/plat.
Got any tips?
I don't know what the right balance is, probably 20% of a total portfolio in metals
@@BackyardBullion I see. Did some quick calculations and I don't seem *that* far off that percentage.
Thanks for answering. :)
This is the way. A friend had his bank accounts frozen due to some identity theft shenanigans, so it taught me to do exactly what you've described, and every pay day is a bank run for me. I'm mostly in silver for metals, and like the 1/10 oz gold coins as slightly more liquid. Need some fiat to grease the bill wheels, but real money is better to hold. People are already taking silver coins for eggs - that's where it will likely go, smaller unit commodities. If it's good enough for the central banks to buy physical gold -- despite what they tell us paeons to do -- it's good enough for people like me who don't want to be left holding the bag of poo they're waiting to light on fire at the Fed.
I smiled so big when you said, "It's none of your business and definitely not the banks..." It's nice to know that that sentiment stands true on the other side of the pond 😂 Great video man.
The Global Weasels are sticking their snouts like crotch bugs into our lives. Or they’ll say you/l haveta wait because they’ve not sufficient cash for you available. Monkey pox droppings is their smelly excuse.
I live in Rishi Sunaks constituency. Our last bank is closing down in Bedale in April, there will be no branches in all the market towns here so I've had to stop taking cash through my business because theres nowhere to bank it! It's no coincidence Rishi is a huge advocate of CBDC's. We're not talking about this enough in public discourse. Our older residents here are past themselves with worry. It's also ironic its rural areas that are being clobbered first. Wait until it hits big towns and cities....by the time people notice and join the dots it'll be too late.
I don't have any issues with CBDC's. It's basically what it is now
@@BackyardBullion
Potentially it could be.
Although potentially it could also be used as a tool to get us out of this mess.
I don’t think the CBDC will necessarily be the same currency (as in match the current value of our Pound).
They have already announced a £20K limit when it’d introduced.
Also, that the banks won’t hold or transact the money. It will be independent.
So, the question I have is… What will be the roll of banks? Or, perhaps they know they will be gone by then.
I don't think CBDC's will be what lots of people fear.
@@BackyardBullion
I’m not suggesting I fear it.
I’m saying it could be used a a solution we have with the Fiat Currency and the banking system.
I agree.
Great video BYB, really interesting to hear your experience! Thanks for the shout out also! ❤
No worries buddy
I used to work as a teller about 10 years ago. However, my suspicion is that the $6k you saw was probably just that teller's drawer count. $6k for a branch would be extremely, extremely low (at least by US standards). So, the way it works is you have Bank Vault and then the Teller Drawers. The Bank Vault would have the majority of money in it. In the ledger system this is where you would transfer money into and out of the bank via armed courier services. Within the bank itself you would transfer money from the Bank Vault into or out of the Teller Drawers as necessary. Back then the Banks I worked at would probably have about $100-200k (depending on traffic and location needs), but each teller might only have $5-10K in their drawers. Hope that provides some clarity!
"I'm free and I live in a free society" ... yeah... right...
Great story. I have converted most of the US dollars I had in a bank savings account to silver, gold and hard cash, held in a safe at home, over the past few years. I just keep enough money in the bank to cover business and personal transactions each month.
Kind of like they do with cash in their branches. 🤔
Thanks for sharing
Me too. Do what the banks do, not what they say.
That last line is 💯
Cash can't be tracked, and their overlords don't like that.
True
I live in America, I have to give my bank a notice in order to withdraw $10,000 or more! Apparently they don't keep that kind of money on hand! I took that as a red flag, so when I decided to deposit $300 which would be rare for me to do, they said, is that all! I said I'll put my account right where I want it.
Nice, good to know.
Was it a bank or a credit union?
I couldnt imagine a bank not keeping 10k in cash.
I buy and sell classic cars and motorcycles. And I turn them over rather quickly. My bank drives me crazy when I want large sums of cash. I end up having to make an appointment for the next day, or sometimes two to three days later. They stalk you for your business, then when you give it to them they act like it’s THEIR money I’m taking out!
Yeah, you're not wrong.
In one sense it no longer is your money, you become an unsecured creditor. Look that up.
It quite literally is their money, legally. That is the problem.
I am in a much better mood today. I love your vids mate, been here since the start 🙂
Enjoy the day ⚡️🐺
Hey BYB great vid and have already seen 365 days one too.. as a rambler love both of your channels.. Sovereign saurus also did a similar vid recently.. Spoke to a friend who works in a barklays branch and they deliberately keep minimal cash and if anything inward as well as out from your account triggers an algorithm you can have real problems.. Any excess cash from the branch is taken out regularly by securicor and you normally need 48 hours notice and will get tons of questions and over a few K will try and get you to fill out an "anti money laundering form" as Yankee stacking and 365 say be your own bank.. Keep up the good work BYB AND 365 shout outs to the ramblers and cabbage spider crew 😂😂
Thanks for sharing and appreciate you stopping by!
I have found I have to be ever more forceful as we get closer to full control, cashless socieity ! The "Safety" anti fraud rubbish is just that ! Cashless is what they want so they have total control !
Yep, they just don't want you to take your money out of their hands.
Thanks for your content. Truly informative and well thought out and very much appreciated. I have recently been on a cruise holiday. I have never gambled in my life and for a laugh we put 15 Euros on a slot machine. To our astonishment, we won 320 Euros and we screamed like we won a million! I have decided, because of you and your community, to invest the winnings in our first silver bullion coins. We decided on Britannia's and from one of your recommended dealers. We got a pretty good price after researching 5 or 6 dealers. All the best to you and your channel.
I live in Canada and I see people walking into my bank and withdrawing 5000.00 out all the time with no problems, personally I think that if your having a problem getting cash out of your bank, your dealing with the wrong bank, switch to a larger more secure bank and ask them questions before you open an account, talk to the person that knows which would be the bank manager and get the facts and if they say something that does not agree with your thinking, continue looking for one that can meet your needs. The bottom line is, if your having a problem accessing your funds, that tells me that the bank that your dealing with has money problems and thats why they want to keep your funds, get rid of them.
I would tend to agree
@@BackyardBullion Just Common Sense, another point I would like to mention and that is, when the whole house of cards comes crashing down, metals will also drop in price and that would signal a buy opportunity. Also hard assets will also drop in price like real estate, art, jewellery, anything that is worth money will drop, which presents another buying opportunity, but one should also realise that after this deflationary period, we are probably going to go into a hyper inflation period, which means stock up on food now or pay the higher prices later or deal with the shortages, especially in meats like beef, chicken and fish. I know that's not related to your subject but that's on your gov. agenda as outlaid by the WEF.
In 1997 or 1988, Hamilton, Ontario, CIBC (close to downtown area). I go there, service is horrendous. I work in IT, I am dressed in office clothes (slacks, office shirt, clean cut). I had to ask why the bad attitude. The manager shows up and they tell me that’s not an attitude that is regular service. So I said fine, let me withdraw my cash (I had about 4.5K in checking, few hundred in savings). They refused to give me my money. Called the CIBC regional manager, they shipped the money and I picked it up about 2-3 hours later. I closed my accounts, canceled my CIBC issued Credit Card and moved to Toronto Dominion bank where service was way better.
@@dangaines405 Yes TD and Royal are the best !!!!!!!!
@@bruce5895 RBC is the Bank in Canada that has been charged the most for money Laundering. Good luck there, they hate my gut's since I cleaned my accounts out. I would never go to any of Canada's Big 5 Banks.
I've never been asked why I need my cash...but when the day comes, my answer will be : "I need it for hookers and drugs."
Amazing
I told them that then asked the girl cashier if she want to come to the party ?
It’s ridiculous they ask why you need YOUR own money that you worked for.
365 is a top bloke and I consider him a good friend in the PM community. Another awesome video BYB!
Sure is!
Hey Brotha! Great video! :D I hope you are well!
Thanks! You too!
Bro the bank had business questioning your reasons for coming to make a withdrawal. This is the sign that CBDC is in effect because this is the purpose of CBDC; to control what you do
Sorry, CBDC conspiracy theories are just that, theories
@@BackyardBullion and who told you that this is just a theory
I don't see how it's any different to what we have right now. But I understand some people think they will spell the control of everything, but I don't think that's likely.
@@BackyardBullion the paper currency as we have it right now gives every man and woman the freedom to spend and hold their money within the grasp of their own hand or should I say mobility;CBDC on the other hand takes that away from you and puts your hard earned money into their control to where you can only look at it through a monitor, they shut you down and penalize you the death for the slightest infractions until your broke. Gold and silver bullion and my God and Savior Jesus Christ is my hedge against this wicked and evil system my brother. You had better wake up and pay attention to what is happening to us as a society because this is real
@@BackyardBullion - you’re in for a shock… why on Earth would they want a digital currency, with every penny of it having a serial number, if it wasn’t to track how it’s spent, to control how it’s spent, if it’s spent? Why do you think we’re going to a digital currency in the first place? I’m surprised by your “lol, it’s a conspiracy theory, so I’m not interested” attitude.
They really do, and in 2020 is when I started withdrawing as much cash as I could every single week, and even when my one branch closed down, I already had some other accounts with other Banks so I set up a couple more and I can transfer out certain amounts each week and withdrawal and no flags are raised, simply because I know many Banks have a limit with how much you can take out on any given day or week because they don't want people knowing everything they see online is Bank credit and not actual reserves to spend
It's awesome that you saw the oh hand balance. Super interesting!
Ok...
Fascinating BYB, thank you very much.
Hey great video! I just wanted to mention in the US about 13 states are excepting gold and silver as currency. I see that as me being able to buy a house in the silver I own! Just wanted to mention that and there is states and also debit cards backed by silver and you get the amount in cash but have it in silver at the bank.
Very well balanced opinion, thought about the same thing, when cashing out bullion you could get slighted out of the desperation of the sale not to mention the amount of on-hand cash needed by dealers would vary meaning a lot of running around. Just give that 1 day notice if possible, however in a dire situation wherein one does need the cash it would be faster in theory, just not nearly as practical.
You English guys are so polite. I love fill the bathtub and play Scrooge McDuck😂😂 I'm an @$$hole I more than likely would have lost my temper. You handled it great better than I would have. The older I get the less tolerant I am. God bless ya brother😊
Thanks my man, I thought it was a good way to diffuse the situation
Not all of us lol
Interesting story! I dont like them questioning us about our cash, I hope cash stays for a very long time. Its great to give youngsters in the family Christmas and birthdays presents.
PS those silver coins are so shiny, I love the clink of silver coins
Great ramble on banks and getting ones own cash out when needed. Its more difficult as time goes on. Here in the US any deposits 10 grand or over are reported immediately to the gov't as well. Besides additional time to withdraw that much or more. Didn't use to be that way
I have heard of some bank "questioning" leading to the prevention of people losing money to scammers. This seems to be a real problem, especially for senior citizens who may be a bit more trusting. I suspect the conversation will go a bit longer if you tell them you are going to send it to this nice person who sent you an email from Timbuktu.
I totally agree that they need to protect people, but it's too far right now. I have other stories I might share about making transfers online
Tell them you want to put it on a horse 🤣🤣freaks them out
In the US, they are really fishing for info to see if you are money laundering or illegal activities. If they suspect anything from the questioning, they must file a federal form with your info. "Suspicious Activity Report"
Some banks depending on how much you are trying to withdraw might ask questions which they shouldn't because it's your money
Yeah, totally agree
Well I think its reasonable for them to ask a question or two.
Like ID, and or if you are being coerced.
Nothing more than something to that effect.
My LCS here in S Florida was counting out $18k and the customer was not very happy, he’d ran out of 100s and the customer did not appreciate the extra bulk of the 20s this was Friday. That’s how we roll down here
I ask for smaller notes
Wow, fair enough!
@@BackyardBullion he also closed this Saturday something he seldom does.
Moral of the story. Keep some cash on hand, and not just a couple of hundred pounds. Save you having to negotiate with a tellerist behind the counter at the bank.
Yeah, totally agreed
I've never had an issue withdrawing £5,000 in London - sure they ask a couple questions (as they should because of the people who do get scammed) but it's never been a problem. Ok so I was paying for building work and (cough cough) it may or may not have been to avoid VAT - let's just say the builder offered a discount for payment in cash. The whole job was 50K so over a few months I made a few trips to the bank. A bank not having physical cash is not the same thing as them "not having your money" and lately I've been seeing a lot of videos insinuating that this is the case. Anyone moving a serious amount of money will do it electronically
I completely agree.
Well sure, if you want to withdraw 50-100k
I could understand needing to like make an appointment to get it later.
But it should not be an issue to take out 1-10k.
If a bank wont let you withdraw that much, its not a good bank in my opinion and they really dont have your money.
The 365 silver guy tried withdrawing 2-5k.
They wouldnt even let him get out over 300, and tried getting him to use the ATM.
One bank even denied him the ability to place an order for cash in a few days or week.
If I am in an emergency, and need cash, I should easily be able to take out a portion of my money.
What if I want to buy a car, or need to do shopping for something that broke in my house?
Santander are the absolute worst for withdrawing cash. 100 questions about why you need X amount in cash. As soon as I get paid, I spend it on gold and silver and I keep just enough in the bank to pay the bills. I've done this for years though, mainly as a way for me to not waste my money on crap I don't need. If I have gold and silver, I'm not going to go buying tech / games / stupid purchases etc. But in an emergency I should in theory be able to go sell some gold or silver and obtain fiat. I just don't like banks, and I don't need or want cash either.
Great idea. I think its so intrusive
I stockpiled cash during the last financial crisis. Inflation eats away at it but I still sleep better at night knowing that I have it.
Nice, why not just buy gold with it and then cash out the gold at the other end, inflation protection
@@BackyardBullion Because emergencies / great deals don't always keep regular business hours.
The cash in my safe is making 0% interest. The cash in my bank account is making .1% interest. Not a significant difference to me. Particularly with real inflation being 10% or more.
And I like having access to MY money when I choose.
Lots of good easy access savings accounts out there. Why not park the cash in there and make 3%
Same thing is happening here in US if you want to wire large amount for precious metals purchases. They will block it and give you a hard time
In Sweden the banks don't have cash anymore. You can only get it at the ATM. But only 1100$ every 4 days. Last week it was 1500$ every 4 day. Crazy!
Ouch!
For me it's the general direction of travel in regards to banks and currency and how they treat/view what us our money on top of what they do with our money.
Yes, I agree
Here in nz some banks will only give 2k cash and they say they have to order it in for larger amounts but if I walk in with 5k cash they are more than happy to take it seems like they are always coming up with things to make it harder for people to get there own money out
Yeah, it's not a fair fight isn't it!
In the 1980s cashiers at retail stores were still required to ledger entries. Whenever an electric till stopped functioning. Now the cashiers just refuse all sales. How long are businesses going to refuse cash when the credit freeze happens? A number of businesses here in the United States utterly refuse cash at the point of sale. Some states have adopted laws that businesses must continue to accept cash as payment. How many of these businesses are going to refuse gold as payment. Two weeks after the credit freeze?
Interestingly, thanks.
well im glad the intro took a turn. i have 130 ozn of silver. paid $5+ over a spot. plus half my stack is down. itd be awful to have to use as cash today. ans then replace it with more premiums
Thanks for sharing!
Here in Australia we have had thousands of bank branches close in the last few years never to re open and online banking in now king!
Yep, it's how it's going to go!
I have most of my gold as very small pieces. Like pamp 1 gram, Mexican Dos Pesos, etc. because co workers and neighbors generally have $100.00 to $200.00 dollars to buy it, but not necessarily $2500.00 for my St. Gaudens 😮
Pretty much most of my transactions these days is digital. Even buying the "sausage sizzle" in Australia at the local hardware store is via card/phone.
Great video. I love silver an gold but I have to say in a World Doom Scenario or in a Major Bank Run that lasts for months, I believe we might just be able to look at our gold and silver and that s it. In that scenario a Pawn or Local Coin Shop will not buy our coins, because there s no cash on the market and people a supposedly crazy for cash. Yes precious metals can be our own bank in normal, peace, quiet times , but not in time of Bank Runs or Doom Day Scenario. Anyway...May The Stack be With You...Always. This is the way😅😅😅.
It's a crazy world. Thanks for sharing
banks are good for paying bills thats about it ... that being said ,, so far using a local bank in eastern PA I have had no problems ... yet ... even depositing & pulling up to 10,000.00 a few times a month ... I did get some friction once recently ( in the last 2 weeks) so we will see how that plays out and ive been with the bank over 30 years ... I still believe cash will be around longer than most think because IMHO there are too many big companies, politicians and wealthy folk , and frankly very powerful people who still rely on cash to hide there shenanigans ...
Thanks for sharing!
😂😂😂 The good ol’ scrooge mcduck line from ozark 🤑🤑🤑
Banks shouldn't ask their customers the reason why they want to withdraw their money. It is as if they think the money is theirs and no longer yours.
I completely agree
My bank only warns that IRS will be notified if you request more than $5000.00,
More common sense , spot on . At the end of the day generally if you need to transfer some of your stack into cash quickly then I’d go on spot price . If your only going to get spot price then bullion in my opinion is best as there are heavy premiums on coinage and your local / online dealer will take a big cut out of it or just offer you spot price ( in weight ) .
Bullion should be accepted at some scrap metal dealers / jewellers though I haven’t tried .
I very much doubt if you went into a bank any staff would know about Britannia’s etc and wouldn’t exchange them for ‘FIAT’ . So that means your local / online bullion dealer is the actual ‘Bank’ . Of coarse they don’t use fractional reserve accounting as a way of making money so technically more secure.
Myself personally??? 1-2 years not long term , BULLION , as coins ( I am not knowledgeable enough on values and collectibility) . I’ll be hedging on the spot price so premiums on coins is unviable .
Of course I’m no expert so if anyone has a better plan !!! 🇬🇧👍
Banks here in the US, Arizona, Phoenix, are running low on coin now. Especially rolls of pennies or cents. For the past couple of months my branch had very little to none. I tried going to different branch. Same thing happened. Zero available!
7:15 a serenade ? Ha ha haa
I like to express my disappointment through interpretive dance
@@BackyardBullion in a time where people aren't wearing face shields anymore I hope nobody takes an accidental boot to the eye 😂😂🤣
I was buying a car recently and saved up a bunch of cash over some time and had almost 3k in just 20’s. I went to 4 banks to trade 20’s for 100’s to cut down on the bulk and they all said they don’t have it so I just went to the casino, bought some chips and turned them back in a few minutes later and received my 100’s
I used to work in rbs and when someone requested a larger sum, we would need to get cash transferred from another branch not that this is a concern but you can NOT expect to walk in and get cash, right or wrong it’s doesn’t matter they just don’t hold that cash
I agree, but when their guidance says £5000 for walk ins and they only have enough for one person that's not good.
@@BackyardBullion 5 years ago they started questioning for security my withdrawal of less than 5 grand. No problem, I told them it was to purchase a van but then they asked me where the money had come from.
That made me ask if they had the ability to carry out a correct and polite transaction as they had all my incomings available, vast majority of which were not cash deposits. That was met with rude, frustrated taking of my signature and followed by the money brought forward and virtually thrown at me. Their loss, I have had much better experience since, with another bank I chose to deal with.
@@BackyardBullion P.S. And yes, I had phoned the bank to give notice of intent ror what it was worth. Hey Ho!
My dad was a part of the team that installed Coinstar machines in the UK and Hawaii... Good times
I was able to remove 6.5 K from my TSB UK bank last week with minimum fuss, although they did ask and also stated it was a private matter. Smiling nervously she handed it over. I only keep a thousand in that one bank now for bills etc. My other UK Bank had to order my other sum in and took four days. I've been stacking silver and gold since 2008. I feel that the time is near for my 'hedging' to come into play. I've also stacked 25yr food tins for the last 10 years. Good luck to everyone when all this goes ass up !
Now this is well worth the telling. Strikes a point that perhaps we should pay more attention to.
My bank wanted two weeks to process a similar withdrawal. That 50 Peso coin is sweet...
My local pawn shop is willing to beat the prices on Bullion By Post and Chards whenever I buy or sell silver or gold.
Nice, that's good.
@@BackyardBullion Yeah it's only cause I told them I will always get my gold and silver from them if they can beat those dealers. They phone me up every time they get gold and silver in, LOL! I got maples for £26.50 each a couple of days ago.
Nice, that's an OK price. I will be selling some this week for £24/Oz though, so better prices can be had.
@@BackyardBullion OK I'll check out your website. How many do you think you'll have in stock?
Probably 25. Drop me an email to byb@backyardbullion.com and I can add you to the mailing list.
1st. I have had a good cash float for a while, plus metal
A good idea!
🥇
NatWest refused to let me purchase some gold coins from an reputable online dealer because they thought it was a scam. After 5 calls and a day on the phone I gave up. They won. I think they were instructed to actively prevent outflow if cash to precious metals. This was when SVB bank went under.
Precious metals are a store of wealth and insurance against hyperinflation. Day to day price fluctuations are irrelevant.
I agree.
In the past higher value coins where made of gold and silver or had high content of the precious metals: on bank notes oit states i promise to pay on demand the sum of £20 for example? Does anyone know what the banks are promising can we demand the notes value in gold or silver 🤔
my bank wants a notice if you are pulling $1000 or more, I lost out on a car because of this and after that I learned to take out a little bit of money each week my bank isn't paying interest anyways so I am not losing out on it and I generally only keep enough in there to pay my bills everything else goes to work.
Ouch
Yes, I use online banking, which is digital on my computer
I just don’t want my money controlled on what I spend it on or what I can spend it on
They will only ban illegal things, isn't that bad!?
Illegal things ie Drugs, guns prostitution?
Yes! You have a problem with government controlling this?
Maybe it will be a good thing for society I don’t know?
All I got asked was what bills would you like...$3,000, then came back and got the rest, $7,000. I love my little home town bank
I was raised on the saying "sound as a pound". Guess this gives my age away. Oh for the good old days (financially speaking).
Totally!
Sound as a 12ozt pound!
Not heard 'sound as a pound' for a very long time
Must be a tad older than you, I remember it as " sound as a pound and tuppence ha'penny", Happy days.
Living in London, many shop owners come from countrys where its understood that metals are money. I bet the middle east shops would accept a silver coin for some groceries should the banks go dark. PS I love how bank cashier's get upset at people wanting to their money. You'd think it was coming out of their pockets.
Gold and Silver are real money and all the rest is just credit on borrowed time.
Would tend to agree
Spot price matters because a lower price means a better exchange rate for your fiat.
I really like your table full of metal. Please make more videos
Thanks!
I Bank at a Credit Union in Canada, one of the Biggest. My commercial Account is now charged (since Jan. 1st) for depositing cash.
Here in America I think we're about to go back to our constitutional or otherwise known as junk silver as currency, I think that's the type of gold and silver that's about to start being used again
Nice, I wish that was like that here.
Going back to a gold (or silver) standard is the exact opposite thing that can save this country.
Spread out assets. Physical cash in the safe. Physical gold and silver in your vault. Multiple banks and check your limits. At least one emergency credit card. Be smarter than the sheep.
Its going to get worse, I hold very little cash in the bank . I take cash out at the atm every week. Too late once the crash happens .
I do agree that we will have need of metals after all the shit hits the fan. However, for a time, and it could be months, cash will be king. Best to have some around for just that reason.
What so many people do not understand, is that when you deposit cash in the bank, you do not own it anymore. The bank owns it. You have first right to the funds, but they own it. READ THE FINE PRINT FOLKS!
I mean, you're not wrong!
Whoa your cash has a window on it!
Cool isn't it!
@@BackyardBullion very!
Natwest got funny with me trying to buy one gold sovereign! in Birmingham. They stopped my card. Had to go in branch and get cash. They said it was suspicious, like I can afford to buy full gold sovereigns everyday. 🥴 and second time with the royal mint.
In Australia, All the bullion dealers only accept cash on purchase of precious metals . No card
What about online?
@@BackyardBullion yes you can buy online and then it's not cash. Bullion dealers like ABC Bullion will give you access pretty easily to bullion online. The Perth Mint is a bit more difficult you have to fill out paperwork and send it all back to them first before you can open an account.
But every time I've been to a billion store it's been cash only. Some places will accept bank transfer but most it's all cash only
Perth Mint is cashless for all purchases…..has been for at least 12 months now
A few thoughts. 1) this story is not unique. Happens everywhere including here in the US. 2) the banks ask all these questions about large cash withdrawals because of the tightening anti-money laundering regulations. They have no problems transferring 100x that amount from account to account no questions asked and 3) low cash on hand is to be expected as interst rates rise. Banks give you 0.25% interest on your savings when 7 day T bills will give you 3% per annum. So deposits have gradually been migrating out as interest rates have been rising. The banks have no problems managing these transactions, except when they get high volume cash requests.
Thanks for sharing your thoughts
Slightly off topic but what's your view on asteroid/lunar mining of PMs devaluing terrestrial PMs? IMO, yeah sure it's definitely possible (one day) and I do see a market for 'space silver' and 'space gold' but there are many reasons why I don't see it as a huge threat (at least not within 100 years):
1) It's not economically viable at present. The cost of mining and returning space PMs will be astronomical compared to doing it on Earth.
2) Flooding the market with so much new PMs will drive values into the basement thus removing their precious nature which in turn makes expensive off Earth mining a pretty pointless endeavour.
3) Governments and banks have huge stockpiles of gold, somehow I don't think they will want their holdings to become near worthless.
4) We are on the brink of another World War, we are hardly in the utopian mindset of working together to expand into the cosmos.
5) the apparently looming climate/ecological/food crisis will put any such endeavours on the back burner.
6) Does the huge amount of space material that's brought back pose a risk to life on Earth? Although it sounds like science fiction, unknown viruses etc could be lying dormant within asteroid material (according to scientists in the know).
No problems here. I withdraw what I want.. when I want.
Can't remember the last time I used cash in the UK. Europe yes .
Yeah, it's not common to use it
I didn't empty my bank account but I did use it to buy a boatload of gold and silver! I didn't spend any cash as such, I just transferred it into REAL money rather than holding it in depreciating currency. I am on the verge of becoming a prepper, if I had 99 guns I'd literally be an American. Speaking of Americans, I think we are caught up in their business a little too much sometimes like Constitutional silver might be great for barter but gold coins? Never. Silver bullion might work for small-medium transactions but then if we are the only ones with gold and silver, how is every supermarket, petrol station and so on supposed to operate under a gold/silver monetary system?
Thanks for sharing
In Australia we or I & all my massive family members have never had problems with transfer of our own money. Credit Cards with a large sum maybe a hiccup as it’s still not you’re own money. As for withdrawals at the Bank I can take anything under 10K Aud$ anytime per day. I recently did a Bank transfer to a Dentist for 17.5K of my own $ & it only took me 5 min on my mobile device. Surprise me how ridiculous the Banks in UK are.
I bank at a credit union in America I went in later the week after sbv take over because my car broke down and I needed a newer one pulled out 7k and they understood I told them I was getting a car out the gate and it wasn’t a problem at all.
Wish I could have spent it on Silver or gold instead just saying
Thanks for sharing!
Europe has large value notes than what we do €500!!!. I think it’s not so much of a problem. But we have very low numbered notes, it’s been maybe 10 years since I’ve seen a £50. So often you need larger volume of notes for big money.
With all that gold on the table you only have £20 notes 😂
I know right!
You sounded like Cartman demanding his cheese puffs in this video 😂
Amazing
Anything more than a 1000 or so has to be ordered from our bank to make sure they have it there
Ouch
I had to wait 3 days but I withdrew 78K this week. Crispy 100 dollar bills.
Nice, that's not so bad.
I managed to pull out £5000 in dec and £5000 3 weeks ago
Yes I did have to answer a couple of questions but wasn’t a problem total time in the bank on both occasion prob about 15 mins
Nice, good stuff
I think many in the precious metals community need to cool off with the lolbertarian conspiracy theories and doomsday scenarios and instead hope the gold trend of the last twenty years continues for at least another twenty - then us gold stackers will all have something to be happy about. Good vid as ever, BYB.
Totally agree my friend
Just lie and say it is for a holiday or home repairs or something. But you're right, it really is none of their business.
Indeed, it's definitely intrusive
@3:56 " I'm free and we live in a free society ..." Oh you're such an idealist.
By the way, and OT, have you noticed the difference in dimensions between 2003 and 2022 silver Britannia ?
The dimension difference is because the 2003 is made of 22ct gold and not 24ct gold like the 2022. Therefore the 2003 actually weighs 8.33% more because it has silver or copper in it to make up the difference. Both have 1 oz of gold content.
Nice banknote.
Thanks!
I wanted a little withdrawal and was looked strange! Wow but like I'm taking theirs!
Next time you make a deposit, ask the bank what they are going to do with it. And then ask them if they feel safe, and if anybody has pressured them in anyway.
Tell them you want to ask a few questions before you let them have your money. Ask them how long it's going to take to get it back when you want it back. Ask them embarrassing questions while you are making the deposit. Ask them what they need the money for? And then ask them if they have all of their bills paid?
ask them if they're safe??
And if anybody has pressured them???
dude if I asked my bank this I'd have guns drawn on me
your gonna get people hurt if they did this
🤣
😂 just tell them it's like a credit check but it's a reverse credit check and you want to make sure that your money is safe.
Tell them if they don't like it, then don't ask me questions when I take my money back.
Truly, it's not worth keeping your money in the bank, they don't give any interest, and their security is worthless. if somebody hacked into your account, they might not cover it. Even though it their job to protect it, they don't want to take responsibility.
They are upset that they won’t have your money to gamble with. It’s not really yours once you give them the freedom to hold onto it.
I would like to buy a couple of the notes you're showing on this video. Would that be possible?
They are £20 notes! Just get some foreign currency exchange!