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re: What are some instances where you would need 100k cash?
Posted on 8/20/18 at 12:52 pm to HempHead
Posted on 8/20/18 at 12:52 pm to HempHead
quote:
but it isn't absurd to think that the owner might be taking 30-35k to the bank in the morning.
It’s bid night. I don’t even want to think of how much money they’ll be raking in from cover. $20 a head come 10:30 tonight. Book it
1
Posted on 8/20/18 at 12:57 pm to Cosmo
I watched the CNN documentary High Profits about a couple that opened a legal weed store in Breckinridge. The banks wouldn't take their deposits so they had to do every thing in cash. The girlfriend would walk down to the court house with 50k in purse to pay sales tax. The guy would have 200K in a duffle bag when he bought legal weed for his store.
Posted on 8/20/18 at 12:59 pm to Cosmo
Whenever I need to post a $100k bail.
Posted on 8/20/18 at 12:59 pm to slackster
quote:
There are no instances that are legal where you would absolutely need $100k cash.
The last CAF story that I read about was a man who was traveling back to his home country and claimed that currency exchange and a less developed financial system made dealing in cash much more reliable. The explanation seemed plausible to me.
Posted on 8/20/18 at 1:00 pm to slackster
quote:
However, carrying it shouldn't be a crime in and of itself.
Shouldn't be but if you're pulled over and the police know of the cash you're bearing, you'll be labeled a drug dealer and it will be seized. Police chief needs a new boat.
Posted on 8/20/18 at 1:03 pm to Cosmo
For a weekend in vegas?
Posted on 8/20/18 at 1:03 pm to Cosmo
quote:
Buying a car or other large purchase would be a cashiers check from my bank.
wrong thread
This post was edited on 8/20/18 at 1:05 pm
Posted on 8/20/18 at 1:04 pm to Cosmo
Sketchy auctions.
Posted on 8/20/18 at 1:06 pm to Peazey
quote:
The last CAF story that I read about was a man who was traveling back to his home country and claimed that currency exchange and a less developed financial system made dealing in cash much more reliable. The explanation seemed plausible to me.
went on tour with Buffett years back, road manager always had this Haliburton brief case the size of a suit case on him, after I got to know him a bit I asked him what was in it, he opened it up and it was full of cash, lots of cash, he said it was there to smooth over any potential bumps in the road
Posted on 8/20/18 at 1:07 pm to Cosmo
Paying off an aging porn star to keep quiet about our forbidden romance.
Posted on 8/20/18 at 1:10 pm to Cosmo
quote:
Cosmo
First I don't think there is any reason anyone should need to provide this kind of answer ever.
What if it isn't a need?
Some people choose to keep large cash or valuables on hand in case of emergencies or crisis events.
I've been at a poker table with 250k+ on it. Nothing illegal happened but one guy left with 130k.
More importantly though most crimes need way LESS than 100k. The 9/11 commission indicated that the largest terrorist attack in US history "only" cost between 400-500k. And as a result all Americans now are subject to CAF and the patriot act
Posted on 8/20/18 at 1:11 pm to Cosmo
I’ve carried $100K around. No biggie. Bought a $40K hot rod from a private citizen once upon a time. Paid cash. Same with my current $20K daily beater. Had to fill out IRS paperwork on the latter one. Dealer was surprised when I pulled out a roll of $100s when it was time to pay. But, there are plenty of legit reasons to carry $100K. Also, CAF is a crime in itself.
Posted on 8/20/18 at 1:32 pm to Cosmo
quote:
instances where you would need 100k cash?
Cartel may be running a 5 kilo special?
Posted on 8/20/18 at 1:41 pm to Cosmo
I might not need 100 grand cash but I. might need 10K to 20K to buy some hot ramen noodles.
Posted on 8/20/18 at 1:43 pm to Peazey
quote:
The last CAF story that I read about was a man who was traveling back to his home country and claimed that currency exchange and a less developed financial system made dealing in cash much more reliable. The explanation seemed plausible to me.
Plausible, sure, but you can easily work around the need to have cash.
I'm not criticizing carrying cash, just pointing out there is always an alternative, and usually a safer one at that.
Carrying $100k cash in a country with a poor financial system and unfavorable currency exchange is quite a dangerous activity.
Posted on 8/20/18 at 1:53 pm to Cosmo
quote:
need
Since when is it up to law enforcement to determine what I "need"?
Posted on 8/20/18 at 2:23 pm to FCP
quote:What you listed doesn't seem to be an instance where you would NEED the cash, as the OP was asking.
But, there are plenty of legit reasons to carry $100K
Posted on 8/20/18 at 2:23 pm to HempHead
quote:
Need? Very, very few.
But let's say someone owns a bar/nightclub that is very large and very busy. They charge cover, and, of course, end up doing a lot of cash sales.
100k is pushing it for one night, but it isn't absurd to think that the owner might be taking 30-35k to the bank in the morning.
I've been in the office of The Library in Oxford on a Sunday after a big game weekend and the 20's were stacked a foot high across an entire desk.
It was A LOT of money.
For those that don't know, on game weekends that place hits capacity and is 1-in-1-out for 4+ hours, 3 nights in a row, and is a $40 to $60 cover. And it holds over a thousand people.
So conservatively, on game weekends if they have 3,000 people visit over 3 nights at $40 cover, they make $120,000 in just cover charges
So they have a lot of cash on those Sundays
This post was edited on 8/20/18 at 2:26 pm
Posted on 8/20/18 at 2:32 pm to Pat Sajak
quote:
Why must I have a need?
Yep, I approach this topic similarly to the way I approach the gun topic. Why would anyone ever need 5 guns? Who said I need it? Why do I have to need it?
Posted on 8/20/18 at 2:34 pm to Cosmo
I’ve never come across one
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