# Would this cause panic and high anxiety



## GasholeWillie (Jul 4, 2014)

you're a city dweller or live somewhere that you are a bit dependant on an ATM for your banking needs. You go to your ATM and try to withdraw the limit of $300 cash for the weekend. And it shuts you down cold and every other person in that vicinity at every ATM in your vicinity. And it is a Friday after 6pm. Oh and the card is no good too to use for any other outlet like food and gas, so is all your CC cards. Why, what happened? Chinese hackers.

I freely admit, I am beholden to the almighty plastic. Routinely walk about with less than $10 cash on me. I have gone to the plastic only option after I saw how much time and frustration I would go thru each month trying to reconcile a checking account statement and tracking transactions with paper statements. I do most of my banking online. Bills get paid that way, I use less than a book of stamps a year for US Mail. I bring this up as it was something I heard mentioned on the radio the other day. Who would have thought that the Chinese could hack the USG and make off with over 4 million employee records?

So I got a new EDC bag, I'm thinking I'm going to build up a grand in cash to carry with me. Otherwise i'll be out on a trip and get my cards wacked and have candy bars left to eat and be a long way from home.


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## James m (Mar 11, 2014)

But if someone takes the cash that would be a bad day. Idk how far you travel. Thought about checks? And another thing, I was in a line at a country store when the power went out. They were taking credit cards on paper, those few sheets that copy themselves.


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## sideKahr (Oct 15, 2014)

I don't use electronic banking, the only entity that has my bank routing number is the IRS. I pay all my bills by mail and keep all paper records. I never let a waitress walk away from me with my credit card, in fact I pay by cash as much as I can everywhere. You can actually save money this way, always ask "Any discount for cash?"

I keep things as simple as possible. It's not because I don't know anything about computers, but because I know too much about them. (I started programing on the IBM 370 mainframe back in the 70's.) Banks love electronic banking, it saves them a ton of money, but you don't hear much about all the trouble it causes consumers.

My system works for me. I've had very little trouble, like many of my friends and family have.


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## AquaHull (Jun 10, 2012)

In God We Trust,All Others Pay cash.


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## paraquack (Mar 1, 2013)

I more or less gave up on cash even tho I carry about $100 on me and same for wife. I have gone to Internet banking for paying all of my bills and use CC for as much as possible but carry a zero balance. The way I look at it is that if the system goes fubar, I'm ahead a few thousand every month. Except for my IRA which would probably be gone too. I do have a stash of cash just in case cash works for a while and then I can use the rest for toilet paper or start fires. I've seriously given thought to pulling my money out of the IRA but the tax would be impressive. I guess the big thing is the no balance on the CC. Works for me for last few years.


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## pheniox17 (Dec 12, 2013)

It would annoy me greatly.... But It will be more a inconvenience and spoil my alcoholic fueled plans for the weekend.... I'm sure I would survive


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## Sasquatch (Dec 12, 2014)

I usually carry anywhere from $17 to $3 in cash on me. The ATM not working would be an inconvenience but nothing more. I keep at least 2k stashed at home in small bills. I'd just have to go home to get it.


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## Will2 (Mar 20, 2013)

Should there be panic and anxiety, no. Either you have control or don't. I've had broken and deactivated cards before, so it wouldn't be anything I havn't encountered before. (The cards could still be usuable through manaul transactions or you could do an electronic transaction to something like western union etc.. cheque cashing services etc.. if you have your own business this is even easier.) 
Personally no, but I am sure for some. I don't even have a bank in these parts. (There isn't a bank for around 30 miles)

Just be careful with cash I've had over 10000 dollars cash stolen from me it hurts.

Cops will probably start thinking you are a drug dealer if you start carrying around thousands of dollars of cash and don't have a driver or a BMW.

None the less, if it ain't a GIC why have it in the bank if it ain't a petty cash fund?

Cash or coin is always going to be safer to store than electronic data. If any major event happens the banks will get knocked off.

Food is a better storage if you have food water and shelter, you shouldbe ok in most crises, but definately, having cash savings is part of a sane finance plan. Just make sure it is hidden well.

Note the bank atm system is often seperate from the Debit system - the debit card system such as interact I think uses regular communications lines, while the atm system is on bank fibre optics.

In general one would still be able to do telephone transactions, although, who knows it all depends on your bank and whether local places offer cash back on debit purchases.

You can also consider opening up a small credit union account that is seperate from your main bank as a backup.

I would think the US banking system is way more insulated though than the Canadian one because there are just so many damn banks in the US, whereas in Canada there are only 5 major banks more or less and a few smaller ones.

http://rt.com/news/232795-kaspersky-hackers-banks-security/

Its not impossible, if cash runs dry crime rates will increase, wait till monday, banks all have backup systems so everything gets restored in short time. Go to the bank on Monday, it is difficult to starve to death in 3 days.


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## Camel923 (Aug 13, 2014)

I vary what I have depending on what I am doing. I never lump it all together. Just like other preps.


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## GasholeWillie (Jul 4, 2014)

James m said:


> But if someone takes the cash that would be a bad day. Idk how far you travel. Thought about checks? And another thing, I was in a line at a country store when the power went out. They were taking credit cards on paper, those few sheets that copy themselves.


well starting tomorrow morning I'll be about 450 miles away from home and back the next day. I'm on the road 250+days a year. Right now I'm letting my tip money grow and will use that as my carry with me emergency stash.

Now back to my original post, multiply the scenario I laid out times several million times like say NYC.


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## Will2 (Mar 20, 2013)

Wont happen by hacking. It would take a physical attack.

It happens there have been widespread power outages before without any major emergency cropping up.

If the banks are down for over a week things will get a little bad, if it is over a month there will be lots of panic. Won't happen without a massive war, or really major event like pole shift.

http://blog.taitradio.com/2014/09/11/what-happens-when-the-power-goes-off/


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## Spice (Dec 21, 2014)

I think some people would freak immediately...suddenly faced with no dinner and no way to get home. There's a lot of people; young adults especially, who've never even *considered* that electronic 'money' is in the end just electrons, and electrons can quit flowing.


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## James m (Mar 11, 2014)

If I remember correctly some data centers and servers use 56k connections for remote desktop or to dial into fix problems. I have some routers and switches that have phone line support. That could be a pretty nasty thing if someone knew what they're doing. On the physical side, fire and water. Set a fire to set off the sprinklers. Nasty scenario. You could also physically damage hardware remotely. Running things wrong.


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## OctopusPrime (Dec 2, 2014)

Eh I'd be alright a little pissed off but I always keep cash on me enough to get me something to eat and gas if needed.


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## Medic33 (Mar 29, 2015)

nope I would just go home make some popcorn and roast some marshmallows with my kids over the fir pit(the marshmallows ,not the kids silly) and make some yummy smores while looking at the stars with the telescope. we might even enjoy a coke or two.


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## jnichols2 (Mar 24, 2013)

Why are hackers the first thing to think of?

Think beck three rears ago to Greece.

The government had the banks close down Friday so they could take what they wanted over the weekend.
Everything opened up Monday. The only difference was that people only had half of their money, the government had the rest.

Can't happen here ??????????????


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## Smitty901 (Nov 16, 2012)

I travel a lot and because of the laws with business expense use a credit card. I do have ever have cash stashed away and a spare card. I have had my card froze due to activity that was suspect.
Yes if ATM shut down it would also mean credit cards would also be effected. It would get nasty real fast. I know many that carry very little cash .
When I was very young my farther taught me to carry my cash and ID in different places that has now become carrying my cash and cards in different places.


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## Prepared One (Nov 5, 2014)

I use my ATM card a lot. Especially when I am traveling for business. I usually have 50 to 100 dollars in cash on me at all times. Plus, I have between 500 and 1000 dollars in the safe at home so I would be covered short term. I do pay most of my bills on lines. It's just to easy.


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## alexus (May 31, 2015)

I think, in the given scenario, some people would panic and my heart would probably race a little. My immediate weekend would not be my concern, but I would be anxious for answers first thing Monday morning. I just had this discussion with my son. He just opened his first savings account and started working his first job. Anything can happen any time don't let yourself get down to your last few dollars always have a little something somewhere.


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## GasholeWillie (Jul 4, 2014)

Smitty901 said:


> I travel a lot and because of the laws with business expense use a credit card. I do have ever have cash stashed away and a spare card. I have had my card froze due to activity that was suspect.
> Yes if ATM shut down it would also mean credit cards would also be effected. It would get nasty real fast. I know many that carry very little cash .
> When I was very young my farther taught me to carry my cash and ID in different places that has now become carrying my cash and cards in different places.


You and I are in the same boat. You know what it is like to be 100s of miles from home and a blip like I describe could dent your day. The luxury is working close enough to home to pop in and grab a few dollars and move on. I am fretting about next week, work in DC on the 4th, threat alert is raised.


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## Will2 (Mar 20, 2013)

JNICHOLS2
Actually greece just opted to shut their banks again. 

The states is not greece it has a private reserve system, they can introduce new money by printing it, the greeks have to borrow money outside their tax control system. This is why control of your own central bank is useful in insuring monetary supply. As soon as you loose print you loose the ability to increase supply. Since money concentrates in the top of wealth holders, money makes money, it will lead to localized deflation unless new supply is created, but if no new money is made it will dry up. It is simple economics. In the US 1/3rd of the banks are controlled by the top 10%, so it is in their interest to insure supply occurs only at the rate that they maintain or grow their wealth, meanwhile inflation lowers wage payouts so financially it is a beneficial system. The point is that Greece doesn't control its supply without borrowing. The US does control its supply in US currency unlike Greek dealing with the multinational Euro. Greeces public service is just too big, and now it is burdeoned under debtload, it is failure by design. US more or less has a monetary tax system but it is a stopgap. Its debt can only be as large as it lets it be. US currency can fail but US banks can't unless they give their money away or their costs are greater than the interest rate of their held funds. Its really simple math. Banks however do give away thier money so they are susceptable as they try to maximize profit. 

I don't think we can see Greece in the United States, it just ins't the same system.


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## MisterMills357 (Apr 15, 2015)

Would this cause panic and high anxietyyou're a city dweller or live somewhere that you are a bit dependant on an ATM for your banking needs. You go to your ATM and try to withdraw the limit of $300 cash for the weekend. And it shuts you down cold and every other person in that vicinity at every ATM in your vicinity. And it is a Friday after 6pm. Oh and the card is no good too to use for any other outlet like food and gas, so is all your CC cards. Why, what happened? Chinese hackers.

Yes, it would cause panic. And, hackers who are government agents, Chinese & Russian, are getting better. It is used as low intensity warfare, and anyone that thinks that it can't bring down a monetary system, isn't thinking big enough. We are facing dangers, that were never dreamed of 50 years a go. Eventually, they will get through the gaps in the armor.​


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## Ripon (Dec 22, 2012)

My cars / trucks all have a hundred dollars in 5-10's tucked in them. There are also some pre 64 quarters and dimes with the paper. Not a lot but enough for some barter on the way home.


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## oddapple (Dec 9, 2013)

If I were in the uk, I would probably be getting all my cash in hand before next week. Don't really get much about the finacne side, but even if the effect would take a couple months to get here, ours would try to act like it as soon as possible, prices, banks and all..


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## Ripon (Dec 22, 2012)

Greece is saying banks closed tomorrow and ATM limit 60 euro till July 7. Some will make a big deal of this, and many will profit.


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## James m (Mar 11, 2014)

Isn't the US invested in Greece just as much as Britain and Germany. There was a graphic on here somewhere.


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## Ripon (Dec 22, 2012)

If so it wouldn't be a sniffle. As noted we go into debt daily what Greece might default on.



James m said:


> Isn't the US invested in Greece just as much as Britain and Germany. There was a graphic on here somewhere.


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## Salt-N-Pepper (Aug 18, 2014)

I've used an ATM exactly once in the last 20 years. I did it just to see if it worked.

So, for me, it would be a non-issue.


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## James m (Mar 11, 2014)

But even if you go into the bank its still hooked up to a PC. That's how it all works now a days.


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## paraquack (Mar 1, 2013)

How many others have a "few" dollars stashed away for just such a mess?


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## GasholeWillie (Jul 4, 2014)

I'm thinking for my purposes, I'm planning to keep $750 in my new GO bag. It is working out great, probably about 95% stocked with what I want to have near me while working, and I'm getting real comfortable with it's use and carry. I'm just trying to determine denominations, nothing bigger than a $50 or smaller than $5, need to put in another $100 and I'll be there. Also thinking of attaching another separate credit card, over and above what I use daily, just active with zero balance, all bundled up with a metal binder clip.


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## 8301 (Nov 29, 2014)

Ever gone to the store and their card payment system is down? I've seen it 3 times in the last year, usually after a lightning storm. Fortunaly I always keep a bit cash well hidden in the vehicle . But if the SHTF your 1st solid sign may be the local store won't take a card. They won't even know a SHTF situation is developing, just that their card machines are offline for some unknown reason.

If you're serious about protecting your family you need to keep some cash well hidden in the house and a bit in the car. The amount depends on your financial situation and how well you can hide it in a preferably fireproof location. $300 is nice. $1000 is better if you can. even just $40 in the glovebox to get gas to get home.


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## PaulS (Mar 11, 2013)

The cash is a great idea... the card? not so much for me. The cash is usable anywhere and anytime but the card will be worthless in a power outage or anyplace that doesn't take cards - there are a few.

I wouldn't consider a card of much value in the bag - I have the one in my wallet for emergencies that are over the amount of cash on hand. I won't carry precious metals or gemstones either because while they have value they are not provable under most circumstances. Stones are worth more than you can get for them and the same is true of precious metals. People simply don't trust that they are worth what they have that you want. Besides - if you want it bad enough to pull out silver, gold or rubies then that makes what they have a lot more valuable.


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## sparkyprep (Jul 5, 2013)

Sasquatch said:


> I usually carry anywhere from $17 to $3 in cash on me. The ATM not working would be an inconvenience but nothing more. I keep at least 2k stashed at home in small bills. I'd just have to go home to get it.


I don't know if I would have put that out on the internet, but I agree.


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## PaulS (Mar 11, 2013)

It's OK, nobody knows where Sasquatch lives. 

I always post that I keep gold and silver at home. It's free target practice.


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## Sasquatch (Dec 12, 2014)

sparkyprep said:


> I don't know if I would have put that out on the internet, but I agree.


I'm not worried one of you (or anyone else) is going to use that info and come to my house to steal it. If someone does they'll have 2 big dogs, a big owner and a couple of boomsticks to deal with. Plus they'd have to find it.


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## PaulS (Mar 11, 2013)

Boom sticks? You got dynamite?


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## Sasquatch (Dec 12, 2014)

PaulS said:


> Boom sticks? You got dynamite?


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## William Warren (May 28, 2015)

Convert the cash to Swiss Francs and have American Express issue you Travelers Cheques for the money. Since the Swiss Franc is still the hardest currency in the world, and Travelers Cheques never expire. You'll be in a much better position to deal if "it" happens, since merchants will _always_ trust the Swiss, and AMEX will make good on any theft.

William Warren


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## Arklatex (May 24, 2014)

William Warren said:


> Convert the cash to Swiss Francs and have American Express issue you Travelers Cheques for the money. Since the Swiss Franc is still the hardest currency in the world, and Travelers Cheques never expire. You'll be in a much better position to deal if "it" happens, since merchants will _always_ trust the Swiss, and AMEX will make good on any theft.
> 
> William Warren


Seems logical but not practical. I don't think any local stores would accept francs. Or travelers cheques either.


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## GasholeWillie (Jul 4, 2014)

William Warren said:


> Convert the cash to Swiss Francs and have American Express issue you Travelers Cheques for the money. Since the Swiss Franc is still the hardest currency in the world, and Travelers Cheques never expire. You'll be in a much better position to deal if "it" happens, since merchants will _always_ trust the Swiss, and AMEX will make good on any theft.
> 
> William Warren


Travelers Checks? You living in the 60's? Last time I used travelers checks was 1984. Perhaps you did not read the original post, this is a short term situation, not end of the world money system. Swiss francs? No one, especially a clerk in a gas station working the weekend shift, will accept either as payment. He/she won't even know what a Swiss franc or TC is. Why not try bit coin? (dripping with sarcasm). Cash is King, and where I will be when the need arises, it WILL work and get me to where or what I need immediately. I've just been personally debating myself, most in $50 and $20 or more smaller bills so I don't have to flash a wad of cash when payment needs to be made.


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