Safe deposit box? Many of you have complained that finding a foreign bank where you could open a savings account was a pain in the neck. Simple solution, albeit with some inflation risk, is just buy the foreign currency in question in the form of foreign cash and put it in a foreign safe deposit box like one in Canada or Bermuda or the Cayman Islands or wherever you want. How big of a box? A stack of 100 wrapped bills is about 6 x 2 1/2 x 1/2. So, say, 20,000 of a currency in the form of 20-unit bills, e.g., $20 bills, would be ten stacks. Let’s say you have a 4 x 5 x 22 box, a standard small size. You could put two stacks side by side and stack them eight high and you could do that three times inside the box wasting four inches at one end. That’s 48 stacks containing 4,800 bills. That unused 4 x 4 x 5 space at the end could hold some unknown number of bills curved to reflect the lack of a 6-inch direction. How much value you could get into the box is a function of the denomination of the bills. If the box will hold 5,000 bills, that’s $50,000 in $10s; $100,000 in $20s; $250,000 in $50s; $500,000 in 100s. If you have more than that, or do not want 100s, you’ll need to rent a bigger box. But let’s keep our eye on the ball. The big problem we are trying to deal with here is the U.S. government hyperinflating the U.S. dollar such that it rapidly becomes worthless. In comparison, worrying about things like mild inflation in some well-managed foreign currency or lack of interest being paid is trivial. There are swiss bank accountz in Houston. At one time u could keep under $ 10,000. Dollarz in Swiss bank account, and not report it to IRS.. just so u know lol Fuk IRS and government lol most USA. Banks are branches. Try to avoid them.
Posted on: Tue, 25 Mar 2014 21:07:32 +0000
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