Spoke with a manager at a TD bank in New Jersey. She stated the branch had actually ran out of cash. Each customer was withdrawing between $3000-$7000. They had to truck more cash in just to cover the demand.
It appears people are extremely wise to what is coming.
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A Bank of America branch on Park Avenue experienced a run of wealthy customers seeking to stockpile cash on Thursday
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The rush came amid dramatic drops on the stock market, and caused the bank to run out of $100 bills
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The banks says smaller bills were available as normal, and $100 bills were replenished the following day
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The Federal Reserve says it has not seen a dramatic spike in the demand for cash despite the coronavirus crisis
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Coronavirus symptoms: what are they and should you see a doctor?
A Manhattan bank temporarily ran out of $100 bills on Thursday as wealthy customers sought to withdraw large sums of cash as Wall Street suffered its biggest drop in more than 30 years.
Frantic clientele at a Bank of America branch on ritzy Park Avenue requested to retrieve tens of thousands of dollars to stockpile, which accounted for the shortage.
Two people who witnessed the rush told The New York Times that several people withdrew as much as $50,000.
On Thursday, the S&P 500 dropped more than nine percent – the largest percentage drop since the ‘Black Monday’ crash of 1987.
The fall was attributed to the worsening coronavirus crisis, however the markets largely bounced back on Friday after the Trump Administration announced new measures to fight the pandemic.
Wait for Friday. That’s when the bank holiday will occur. Better take your money out and put it into something tangible because you know that’s the day it’s going to happen. They’ve been preaching about it for years.
Goddamint….
Then how do I get the $1000 cash that President Trump is depositing…. ?
Into my account right now….. ?
Those banks better not fking close yet…..
Plus…. if I had 3-4k to pull out…
I’d buy some poptarts and ammo and silver…… online…
Hey Amazon I want 2k dollars of pop tarts….
1K of Ammo…..
and the rest silver.
There ya go…… no run on the banks.
Just keep it open long enough so I get my $1000.00 in cash.
You CockaRoAchEs.
One thing I don’t have to worry about
LOL
Bleh, not wise at all. Just consider this:
1. Cash in hand when everything is SHUT DOWN.
2. If it WERE an apocalypse your paper means ZILCH.
3. Most banking is machine run as it is so if they do take this one thing to the “next tier” for containment… Guess what? Cash is out, get your card or do banking online.
Cash.
You can always start a fire or wipe your caboose with it (The New Toilet Paper).
😉