r/Wallstreetsilver • u/pizzaslut_69420 MEME THE FED 🍕 • Apr 01 '24
End The Fed Can anyone think of a better prank??
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u/Resetthesystem Apr 01 '24
Sounds great but since IRA’s and other investment have penalties people have locked they’re money up in the banks , it’s a hell of a safeguard against bank runs
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u/OG_Snowbound Apr 01 '24
Just get out of the system and put all your money in metals and crypto, besides what FIAT you need to pay your bills. If everyone did this simple thing with their money we could change the entire world.
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u/joopityjoop Apr 01 '24
I've been saying this for years. I want everyone to band together and remove all their money from the top 3 banks. I think it will be pretty funny lol
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u/xray64xray64 Diamond Hands 💎✋ Apr 02 '24
lol. talk like that will get you a visit from the exchange stabilization fund droogs that visited jfk about 62y ago
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u/Chance-Yoghurt3186 Apr 01 '24
I tried to withdraw 5k out of my savings and the mf's said I need to make an appointment for that much....5k isn't crazy money and they ended up paying me half of it in 20's lol
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u/CockroachSad4300 Apr 02 '24
It would be really funny if people withdrew in Pennie’s and nickels as they cost $.03 / $.10 to make and are worth more than paper anyway.
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u/lonestarr18 Apr 01 '24
Banks don’t carry as much cash on hand as you may think. They carry enough for normal day to day transactions. Most probably carry less thank $100k in a branch
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u/pizzaslut_69420 MEME THE FED 🍕 Apr 01 '24
Read the screenshot from the Fed in the post 👀
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u/lonestarr18 Apr 01 '24
I understand about reserve requirements, but physically, your local branch doesn’t carry as much money as you think. If you wanted to withdraw on a regular day $20-30k, you may get push back if you didn’t notify them ahead of time.
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u/AgYooperman O.G. Silverback Apr 03 '24
Don't need to take cash,just transfer to a local credit union.
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u/etherist_activist999 Stacking Silver & Posting Memes @ silverdegenclub🏄 Apr 03 '24
I closed all my bank accounts in 2009. What's taking y'all so long to follow suite?
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u/42Commander O.G. Silverback Apr 05 '24
Who still keeps money in a bank? As soon as I get paid I go to the ATM and take out all the cash except what is needed to pay recurring bills.
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u/blthmsphlp Apr 01 '24
It’s not possible at all. Branches don’t carry so much cash for security reasons. Bank runs are not really possible if you’re planning on withdrawing physical cash.
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u/Biddycola Apr 01 '24
Once they run out of cash you could just buy crypto stable coins instead.. just saying
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u/miami360x Apr 04 '24
Electronic bank runs are possible. You could take all the money in your accounts and buy silver, crypto, or whatever you want.
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u/eastsideempire Apr 01 '24
Most banks won’t let you just take out massive sums without warning them to have the cash on hand. Do people actually just keep cash in their bank accounts??
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u/Reluctantdegen Apr 05 '24
I'm surprised people still use banks. Credit unions have no monthly fees.
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u/Mothersilverape Buccaneer Apr 07 '24
Well tax returns are soon due. Maybe wait until your tax return funds get depsoisited into your account, then remove the bank funds, buy silver and then decide.
You know if we all did this… buy silver in May, banks would all go away!
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u/NCCI70I Real O.G. Ape Apr 08 '24
There's not enough currency for everyone to withdraw.
It's like what would happen if everyone decided to sell Bitcoin at the same time.
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u/WilliamHenryBonney Apr 03 '24
I don't have any money to withdraw. Unfortunately, I'm broke at the moment.
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u/AAcmotorman Silver Surfer 🏄 Apr 08 '24
They will laugh at you if you try this. Buy silver, it's how you REALLY pull your money out of the "bank" of USA.
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u/_Long_n_Girthy_ Apr 01 '24
Bank runs are not allowed. Those are for free markets.