Sanctum Zone

Keyword
A+ A A-
Welcome, Guest
Username: Password: Remember me
Forgot your password? Forgot your username? Create an account
  • Page:
  • 1
  • 2

TOPIC: Bank makes you give reasons for withdrawing your own money!

Bank makes you give reasons for withdrawing your own money! 25 Jan 2014 16:35 #21

  • andyh
  • andyh's Avatar
  • ZONED OUT
  • Platinum Boarder
  • Rank6
  • Posts: 10337
  • Thank you received: 3545
  • Karma: 62
knobmeup wrote:
Did you get as far as explaining what happens to the 'cash' you deposit into the bank under a fractional reserve system or did you think you may actually be done for manslaughter if you did? :chuckle:

The last person I told went purple, I had a PC to hand so also showed him the documented info showing fractional reserve happens for real.
He just kept saying 'it can't be right!' again and again. I actually got genuinely worried at one point, I thought he was going to have a mental breakdown lol.
“Fascists are not human. A snake is more human.” - Hugo Chávez
You must register to post here.
The following user(s) said Thank You: dubmeup

Re:Bank makes you give reasons for withdrawing your own money! 25 Jan 2014 16:37 #22

  • andyh
  • andyh's Avatar
  • ZONED OUT
  • Platinum Boarder
  • Rank6
  • Posts: 10337
  • Thank you received: 3545
  • Karma: 62
Verlander wrote:
Banks never have more than a small fraction of deposits in cash. That has been the way for centuries, but the fraction has got smaller over recent decades. (That's my understanding anyway.)

WakeUpBomb had a link a while back in the forum showing that UK banking actually had infinite fractional reserve.
The old 9:1 ratio went out a long time ago, we went ballistic.
“Fascists are not human. A snake is more human.” - Hugo Chávez
You must register to post here.

Re:Bank makes you give reasons for withdrawing your own money! 25 Jan 2014 16:43 #23

  • dubmeup
  • dubmeup's Avatar
  • ZONED OUT
  • Gold Boarder
  • Rank5
  • Posts: 3239
  • Thank you received: 2296
  • Karma: 0
andyh wrote:
Verlander wrote:
Banks never have more than a small fraction of deposits in cash. That has been the way for centuries, but the fraction has got smaller over recent decades. (That's my understanding anyway.)

WakeUpBomb had a link a while back in the forum showing that UK banking actually had infinite fractional reserve.
The old 9:1 ratio went out a long time ago, we went ballistic.
I believe that at present, there is no enforced fraction that must be reserved in the UK. Merely guidelines based on what's supposed to protect the system from collapse. So yes, that would equate to the possibility of creating an infinite amount of cash from a quid.
Not likely to ever happen or to be permitted but a theoretical possibility all the same.
"laws are unenforceable if the majority break them."-humanspirit,
"avoid the concept of an ambassador for truth altogether"-gilly.
Last Edit: 25 Jan 2014 16:45 by dubmeup.
You must register to post here.

Bank makes you give reasons for withdrawing your own money! 25 Jan 2014 18:22 #24

  • Barnfish
  • Barnfish's Avatar
  • ZONED OUT
  • Banned
  • Rankbanned
  • Posts: 302
  • Thank you received: 93
  • Karma: 0
I have always had to give notice of large cash withdrawals, but never a reason. That is with a Building Society.
You must register to post here.

Bank makes you give reasons for withdrawing your own money! 25 Jan 2014 19:30 #25

  • thoreau
  • thoreau's Avatar
  • ZONED OUT
  • Expert Boarder
  • Rank4
  • Posts: 1563
  • Thank you received: 2189
  • Karma: 47
Barnfish wrote:
I have always had to give notice of large cash withdrawals, but never a reason. That is with a Building Society.

I had thought that notice for large (10k+) withdrawals were the norm as not all branches have huge amounts of cash just lying about - asking what it is for is ridiculous - so glad i dont have a bank account and havent for 10 years plus - no building society one either.
Sometimes, if you stand on the bottom rail of a bridge and lean over to watch the river slipping slowly away beneath you, you will suddenly know everything there is to be known.

“Just living is not enough, one must have sunshine, freedom, and a little flower”
You must register to post here.

Bank makes you give reasons for withdrawing your own money! 26 Jan 2014 00:50 #26

  • angelchemuel
  • angelchemuel's Avatar
  • ZONED OUT
  • Gold Boarder
  • Rank5
  • Posts: 2901
  • Thank you received: 1356
  • Karma: 11
thoreau wrote:
Barnfish wrote:
I have always had to give notice of large cash withdrawals, but never a reason. That is with a Building Society.

I had thought that notice for large (10k+) withdrawals were the norm as not all branches have huge amounts of cash just lying about - asking what it is for is ridiculous - so glad i dont have a bank account and havent for 10 years plus - no building society one either.

So how do you do 'stuff' then Thor? Serious question 'cos I would like to dump that system too.
:jane:
"love it better"
the more you sweat in peace, the less you bleed in war
You must register to post here.

Re:Bank makes you give reasons for withdrawing your own money! 26 Jan 2014 14:41 #27

  • andyh
  • andyh's Avatar
  • ZONED OUT
  • Platinum Boarder
  • Rank6
  • Posts: 10337
  • Thank you received: 3545
  • Karma: 62
I don't have 10k to withdraw anyway, lol:-)
“Fascists are not human. A snake is more human.” - Hugo Chávez
You must register to post here.
  • Page:
  • 1
  • 2
Moderators: psketti, oioioi, batou
Time to create page: 0.143 seconds

Latest Members Blogs

  • 1
  • 2
  • 3
Prev Next

What is going on when it comes to 9-11 I…

The EPA (environmental protection agency) and OSHA took air samples in the days following September 11th, they reported that they found no excessive levels of asbestos contrary to other findings....

Read more

9-11 Eleven Years Later

9-11 Eleven Years Later

With the anniversary of September 11th literally just around the corner, unanswered questions still remain for families who lost loved ones during the tragic event, as well as from families...

Read more

Strange Noises, Possible Link to Mass An…

Strange Noises, Possible Link to Mass Animal Deaths

In 2008 the U.S. Supreme Court agreed to review a series of lower court rulings that restrict the United States Navy's use of sonar in submarine detection training exercises off...

Read more

Annual Server Target

Whether its 50 cents or five dollars, your donations are appreciated and help keep this community site running so we can all continue to enjoy using it.
This target is to meet our server cost for one year, June 2020 - May 2021, in USD.
$ 340 - Target
( £ 250 GBP )
donation thermometer
donation thermometer
$ 192 - Raised
( £ 140 GBP )
donation thermometer
56%
Most Recent Donation:
$122 USD on 4th Jan 2021
Bitcoin Address: bc1q0kazqya0nurfxtunxv807vm0m8852nnrrk8mj8
 
Ethereum Address: 0xe69915c80dd75df19f438d556267e04f932f057d
 
More Info: Donation options for TZ

No one is obliged to donate, please only donate what you can afford. Even the smallest amount helps. Being an active member is a positive contribution. Thank You.

TradeZone Latest

default
99 CDs all in good condition
Music
09.11.2012 21:12

default
Cream, 2-seater leather sofa
Miscellaneous
18.08.2012 12:14

default
Enfield Striking movement
Miscellaneous
04.08.2012 0:16

Visitors

Today643
Yesterday4432
Week643
Month25578
Total1124002
Your IP Address: 216.73.217.112 Your Browser and OS: Unknown - Unknown Monday, 24 August 2026 06:51

Who Is Online

Guests : 693 guests online Members : No members online
© 2012 – 2021 Sanctum Zone | All rights reserved. This website is a place for people to express and discuss their views on the news and world events. DISCLAIMER: Please Note: Views expressed and submitted by contributors are their own personal opinions and do not necessarily reflect the views, opinions and beliefs of the Sanctum Zone website and its founder(s) , administrators , moderators , and any other website maintenance technicians, personnel and volunteers. Articles and messages posted on this website and forum are solely the opinion of their authors.

Login or Register

LOG IN

Register

User Registration
or Cancel