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- - I'm going to withdraw some cash now from the bank... (http://goldismoney.info/forums/showthread.php?t=226006)

Goald | 01-22-2008 05:19 AM
I'm going to withdraw some cash now from the bank... I'm in the E.U and may be living in the States in the next few months. I'm not a fan of the Euro and think it might be overvalued but it has fallen alot against the $. I off for my cash. Not all of it but some stuff to keep on hand. I can't buy PM's here. USD Swiss Franc Euro Yen Singapore Dollar Hong Kong Dollar Some USD makes sense because of my life situation but the rate my bank quotes me is 2.2% below the price shown on xe.com, does that sound fair?

buff01 | 01-22-2008 05:29 AM
Re: I'm going to withdraw some cash now from the bank... What part of EU and what's your biggest reason for leaving? If you don't mind my asking...

Goald | 01-22-2008 06:37 AM
Re: I'm going to withdraw some cash now from the bank... I don't really wanna say too much my friend. I am going to live in the U.S as my lady friend is from there. A few formalities to sort out before that can happen though. Just got a few Franklin Notes. As things stand, they will not be able to print their way out of this. They can add numbers electronically and inject so called 'liquidity' all they like but there is a great disparity between cash and the electronic numbers that are always controlled by the banks and other companies/institutions. The latter is the one they can create at a whim. As I understand it, few FRN's will be created in a recession as they require collateral that there simply will not be. Too few paper bills guys, don't forget. I know that could change- but not yet. Agnus' thread does a superb job of discussing the merits of having cash on hand.

Atahualpa | 01-22-2008 06:49 AM
Re: I'm going to withdraw some cash now from the bank... I'm also going to hit the bank first thing this morning and get a few thousand in cash. I had a good cash stash but I pissed it away...I need to tighten up my spending.

buff01 | 01-22-2008 01:47 PM
Re: I'm going to withdraw some cash now from the bank... Quote:
Originally Posted by Goald (Post 929690) I don't really wanna say too much my friend. I am going to live in the U.S as my lady friend is from there. A few formalities to sort out before that can happen though. Just got a few Franklin Notes. As things stand, they will not be able to print their way out of this. They can add numbers electronically and inject so called 'liquidity' all they like but there is a great disparity between cash and the electronic numbers that are always controlled by the banks and other companies/institutions. The latter is the one they can create at a whim. As I understand it, few FRN's will be created in a recession as they require collateral that there simply will not be. Too few paper bills guys, don't forget. I know that could change- but not yet. Agnus' thread does a superb job of discussing the merits of having cash on hand.
I understand. Good luck to you my friend.

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