Someone dropped their ATM receipt.......

[axiomatik]

....showing $100 million in their savings account.

Mogul, possibly hedge fund manager David Tepper, leaves behind ATM receipt showing $100M balance - NYPOST.com (http://www.nypost.com/p/news/local/slip_up_reveals_mil_balance_0eFxDLfXlz1xkKiB6NnHkL )

[wannabdr1ftr]

Wouldn't that be nice to look at every time you went to an ATM and got your receipt.

[future]

Yeah. Instead of not being able to use it because it's at your set limit -_- lol

[VROOOM]

i used to work at Wells Fargo. i saw a few accts with over 50 million. but the weirdest thing was a middle eastern man who called to see the balance in his checking and savings acct. there was 250k in his savings acct that was seized by the federal govt, there was also 250k in his checking that was also seized. the guy didnt even care that half a million had been seized from his acct. this was less than a year after 9/11. i always wondered if he was a terrorist.

[atom]

I wonder what his ATM withdrawal limit is.

It's pretty ridiculous to have that much money in a savings account too. Who does that? I'm guessing drug dealer.

[Sarom_ps13]

The things i would do with that much money.. GAHH!

[VROOOM]

I wonder what his ATM withdrawal limit is.

It's pretty ridiculous to have that much money in a savings account too. Who does that? I'm guessing drug dealer.

probably $400 they dont usually give high dollar withdrawal limits.

[Speed Junky]

probably $400 they dont usually give high dollar withdrawal limits.

Ya except places like the Wynn in Vegas, the ATMs only gave out $100 bills lol. No idea what the max withdrawal amount is though.

[Quail]

I'm guessing drug dealer.

A drug dealer keeping $100m in a Capital One savings account?

:picardfp:

[ManoNegra]

A drug dealer keeping $100m in a Capital One savings account?

:picardfp:

Make it easier for his accountant, no? :cool:


isn't this an old pick up artist trick?

[tricky_ab]

I'd love to have that much currently in my savings... :(

[Speed Junky]

A drug dealer keeping $100m in a Capital One savings account?

:picardfp:

That's not his bank, why would he have a fee from his own bank?

[S14DB]

isn't this an old pick up artist trick?
Yes it is.

There are some problems with this. The receipt is in color with a streak in the capitalone. But made to look like a thermal printer.
Using a 3rd party ATM(the 2.75 fee) that shows your balance? Usually you can only do your balance check at your home banks atm.

This really just looks like a smear job by one wall street exec to another. None of them would be stupid enough to have more than $250k in a FDIC account.

[SimpleS14]

That's not his bank, why would he have a fee from his own bank?


Still...a drug dealer would NOT have excessive amounts of their money in traceable accounts.

[SLiDe_WaYz]

A drug dealer keeping $100m in a Capital One savings account?

:picardfp:

Cmon man you know he's using his capital one milage/rewards card. The one the Vikings use for cash bak of course

[towlie]

Old news.

Pretty dumb to keep that much $$$ in a bank account

[demonspeed]

Old news.

Pretty dumb to keep that much $$$ in a bank account

right, or you could be like mayweather and keep ALL your money at home in a shoebox lol

[DataXUnknown]

Saw this months ago on Yahoo news

Wait, you guys don't have 100 Mil in your accounts? Chump change

[speedgod^s13]

Saw this months ago on Yahoo news

Wait, you guys don't have 100 Mil in your accounts? Chump change

Lucky is the person who returns your NRGsteering wheel. :rofl: I keed, I keed.

[atom]

A drug dealer keeping $100m in a Capital One savings account?

:picardfp:

ATM fee......:picardfp:

Still...a drug dealer would NOT have excessive amounts of their money in traceable accounts.

...........really?

You realize last year wachovia was fined for laundering hundreds of billions of dollars of cartel funds over a 3 year period? And thats just one bank. You think cartels just pile their cash up in a vault ala Scrooge McDuck? LOL

And not that I really believe that this was a drug dealer, but I can't think of anyone but criminals that really need this amount of money liquid.

[nathanong87]

Old news.

Pretty dumb to keep that much $$$ in a bank account

dumb or AWESOME? .... even if savings account earns you like 1% a year annually. what's 1% of 100million , ask yourself that question :fruit:

[TougeLove]

You think cartels just pile their cash up in a vault ala Scrooge McDuck? LOL

i loved that show!!!!

espcially when the duplicating ray gun was used on money but doubled everytime the bell rang ahahhaa


aspen ain't got nothing on scrooge!
http://www.debtorsunite.com/getattachment/Blog/Solvency-Shark/March-2011/Loan-Yourself-Money/SCROOGE-MCDUCK.jpg.aspx?width=450&height=328

[Jay420sx]

dumb or AWESOME? .... even if savings account earns you like 1% a year annually. what's 1% of 100million , ask yourself that question :fruit:

^Thats a good point! I personally wouldnt have that much cash in the bank, if I had it lmao, but thats a good idea free money FTW!

[VROOOM]

ATM fee......:picardfp:



...........really?

You realize last year wachovia was fined for laundering hundreds of billions of dollars of cartel funds over a 3 year period? And thats just one bank. You think cartels just pile their cash up in a vault ala Scrooge McDuck? LOL



drug dealers house. over 200 million cash

http://s3.amazonaws.com/picable/2009/07/21/1190837_Room-full-of-cash_620.jpg

[dudermagee]

A drug dealer keeping $100m in a Capital One savings account?

:picardfp:

actually they do, not capital one but still a major bank
Report: Wachovia bank helped launder Mexican drug money (http://content.usatoday.com/communities/ondeadline/post/2010/06/report-wachovia-bank-helped-launder-mexican-drug-money/1)

[ronmcdon]

dumb or AWESOME? .... even if savings account earns you like 1% a year annually. what's 1% of 100million , ask yourself that question :fruit:

no, you are probably losing money if it's 1% returns.
Inflation of the US$ is probably much more than 1% a year, esp with dismal economy.
(i'm sure some smartass here knows, I'm too complacent to keep up)
It's probably a lot less risky to say invest in gold if you had that much dough.

[slowvia]

http://s3.amazonaws.com/picable/2009/07/21/1190837_Room-full-of-cash_620.jpg

:eek2:
msglngth

[sw20>>s14]

dumb or AWESOME? .... even if savings account earns you like 1% a year annually. what's 1% of 100million , ask yourself that question :fruit:

^Thats a good point! I personally wouldnt have that much cash in the bank, if I had it lmao, but thats a good idea free money FTW!

its INCREDIBLY dumb...no one with that amount of money should have it in a joe shmoe bank account...dont even worry about the interest rate, the point is that 99.9% of the balance isnt insured by the FDIC...why would you risk that for beans of interest? think again, chief...

[!Zar!]

Seems fake.

And on that note, most people use multiple safe houses to store product/money.

[WanganRunner]

dumb or AWESOME? .... even if savings account earns you like 1% a year annually. what's 1% of 100million , ask yourself that question :fruit:

It's not dumb because of the interest rate (although that doesn't help).

It's dumb because FDIC protection only extends to amounts up to $250,000 per account, and so if there was a run on that bank, he'd be SOL for $99,750,000.

If you have it in some sort of security, or treasuries, or whatever, at least you own something. People with minimal savings don't spend a lot of time contemplating black swans, but if this guy is a hedgie, I find it hard to believe that he could sleep at night with 9 figures in checking. Seems fake.

[DriftN00b]

Seems fake.

And on that note, most people use multiple safe houses to store product/money.

i was just thinking this. lets say you robbed one, burned the money to prove a point and get them to move all the other cash into one spot. sounds like a good heist plan to me.

[simmode1]

^^^Hmmm... Why does that sound so familiar... lol

[sr20sean]

http://d24w6bsrhbeh9d.cloudfront.net/photo/216221_460s.jpg

[Matej]

With 100MM$ in savings I would just live off the interest.

[nathanong87]

With 100m in savings I would build a sweet mid nineties nissain sports car

[WanganRunner]

With 100m in savings I would buy a Honda Fit and some road bikes

Fixed that for you

[One_love_silvia]

why do we care how much money some rich snob has? jesus christ americans are the nosiest people in the world.

[towlie]

dumb or AWESOME? .... even if savings account earns you like 1% a year annually. what's 1% of 100million , ask yourself that question :fruit:

Or, you could invest it and have your money work for you.. Come out with alot more than 1% of 100m lol:ddog:

[Flexin]

Or, you could invest it and have your money work for you.. Come out with alot more than 1% of 100m lol:ddog:

or you could lose it all by doing that...

[WanganRunner]

or you could lose it all by doing that...

Depends on where you put it.

You can get 10% cash-on-cash from ~B quality apartment product these days, and with low leverage and proper insurance it's a very secure play, at least in good markets.

Granted it's not "hands off", you need to either know something about it or have a partner, and if the latter, you need to make sure the partner can't screw you in the LPA and that your returns aren't all going into their fee stream.

Even if you parked half your money in this kind of product with ~50% leverage and then half in money market, your blended rate would be like 4x the MM rate and your risk profile would be pretty tolerable.

[Sleepy_Steve]

With 100m in savings I would do two chicks at the same time.

Fixed. :hsdance:

[dam262a]

that's so stupid all that cash in a bank, needs to exchange that for gold and silver asap

[axiomatik]

that's so stupid all that cash in a bank, needs to exchange that for gold and silver asap

and if the gold market crashes?

[dam262a]

and if the gold market crashes?

gold and/or silver.. will always be a great investment and I don't mean stocks I mean real gold bars/coins, it's way better than the American dollar which is increasingly turning into shit. If this guy has 100mil in his account and that bank could become bankrupt and he'll lose everything and hopefully be left with only 50k (which is supplied by americas funds which was brought in after the great depression, if you know your history). Now that's if America isn't bankrupt already, then he'd be just fuked.

I know this is saying a lot but the best thing to do imo that i would do my self would be just invest in land, gold, guns, food and if you need to at least have about 50k in your bank and/or have multiple bank accounts from multiply banks just in case. You can never know what will happen in our near future.

[axiomatik]

gold and/or silver.. will always be a great investment and I don't mean stocks I mean real gold bars/coins, it's way better than the American dollar which is increasingly turning into shit. If this guy has 100mil in his account and that bank could become bankrupt and he'll lose everything and hopefully be left with only 50k (which is supplied by americas funds which was brought in after the great depression, if you know your history). Now that's if America isn't bankrupt already, then he'd be just fuked.

I know this is saying a lot but the best thing to do imo that i would do my self would be just invest in land, gold, guns, food and if you need to at least have about 50k in your bank and/or have multiple bank accounts from multiply banks just in case. You can never know what will happen in our near future.

Bank deposits are insured up to $250k by the FDIC, not $50k. Gold is a market-traded commodity, and it's price fluctuates with the market. The price of gold has been going up for the last few years because it is a safe-haven investment. But that doesn't mean that it will continue to rise, nor does it mean that it will stay so high. If the gold market crashes, then your investment crashes with it.

[mkezzo16]

Yes it is.

There are some problems with this. The receipt is in color with a streak in the capitalone. But made to look like a thermal printer.
Using a 3rd party ATM(the 2.75 fee) that shows your balance? Usually you can only do your balance check at your home banks atm.

This really just looks like a smear job by one wall street exec to another. None of them would be stupid enough to have more than $250k in a FDIC account.

what he said because i believe thats the most amount of money they insure.

[dam262a]

Bank deposits are insured up to $250k by the FDIC, not $50k. Gold is a market-traded commodity, and it's price fluctuates with the market. The price of gold has been going up for the last few years because it is a safe-haven investment. But that doesn't mean that it will continue to rise, nor does it mean that it will stay so high. If the gold market crashes, then your investment crashes with it.

oops thats right 250k lol!.. i meant 250 of course not 50k that's to low. Still 250k Sucks compared to having 100m, their goes 99,750,000 down the drain. Still gold seems to be a great investment unless the whole world goes into destruction from nukes, aliens, zombies(lol), or just regular shit, hence why I included guns, food and land, I really can't see it happening.

[WanganRunner]

gold and/or silver.. will always be a great investment and I don't mean stocks I mean real gold bars/coins, it's way better than the American dollar which is increasingly turning into shit. If this guy has 100mil in his account and that bank could become bankrupt and he'll lose everything and hopefully be left with only 50k (which is supplied by americas funds which was brought in after the great depression, if you know your history). Now that's if America isn't bankrupt already, then he'd be just fuked.

I know this is saying a lot but the best thing to do imo that i would do my self would be just invest in land, gold, guns, food and if you need to at least have about 50k in your bank and/or have multiple bank accounts from multiply banks just in case. You can never know what will happen in our near future.


This is Glen Beck alarmist tinfoil-hat bullshit.

The best investments are those that provide low capital basis, good relative returns, and below-average risk. Gold, at the moment, provides NONE of these. Gold prices are at crazy highs right now, it provides NO return, and a physical asset always carries more risk than a security based on a physical asset because of risk of loss, destruction, or damage.

If you think gold is at an attractive value to buy, then you should buy a gold-based paper security, probably a gold ETF.*

If you're worried about the dollar, then you should buy securities denominated in some currency other than dollars.

If you want to do BOTH of these, then buy a gold ETF denominated in some currency other than dollars.

Under NO circumstances should you actually go buy bars of gold like you're Scrooge McFuckingDuck unless you think the world is coming to an end in the near future and all fiat currencies and paper securities will be worthless to our future gasoline-stealing midget-piggyback-riding post-apocalyptic Mad Max Thunderdome overlords.

Planning for realistic black swans, like a second recessionary dip, is perfectly reasonable, and a position in a gold ETF is an equally reasonable part of such a strategy. Planning for preposterous shit like alien invasions, meteor impacts, and the collapse of western civilization is idiotic because in such situations you would have far more pressing concerns than the integrity of your personal balance sheet. These events cannot be feasibly hedged as the opportunistic cost of the hedge outweighs the chance of said event occuring. Anyone who TRIES to hedge against ridiculous nonsense will just become a profit center for those of us that know better.


As I'd mentioned earlier, due to the $250,000 FDIC recovery limit, keeping all of this in a checking account is INDEED a terrible idea, which is the primary reason I think this is fake.


*HINT: Gold prices are not attractive.

http://www.money-management-works.com/images/GoldChart1990-2011.jpg

[S14DB]

Fake ATM receipt Generator (http://fra.bz/gen/fake-atm-receipt-generator.php)

[dam262a]

This is Glen Beck alarmist tinfoil-hat bullshit.

The best investments are those that provide low capital basis, good relative returns, and below-average risk. Gold, at the moment, provides NONE of these. Gold prices are at crazy highs right now, it provides NO return, and a physical asset always carries more risk than a security based on a physical asset because of risk of loss, destruction, or damage.

If you think gold is at an attractive value to buy, then you should buy a gold-based paper security, probably a gold ETF.*

If you're worried about the dollar, then you should buy securities denominated in some currency other than dollars.

If you want to do BOTH of these, then buy a gold ETF denominated in some currency other than dollars.

Under NO circumstances should you actually go buy bars of gold like you're Scrooge McFuckingDuck unless you think the world is coming to an end in the near future and all fiat currencies and paper securities will be worthless to our future gasoline-stealing midget-piggyback-riding post-apocalyptic Mad Max Thunderdome overlords.

Planning for realistic black swans, like a second recessionary dip, is perfectly reasonable, and a position in a gold ETF is an equally reasonable part of such a strategy. Planning for preposterous shit like alien invasions, meteor impacts, and the collapse of western civilization is idiotic because in such situations you would have far more pressing concerns than the integrity of your personal balance sheet. These events cannot be feasibly hedged as the opportunistic cost of the hedge outweighs the chance of said event occurring*. Anyone who TRIES to hedge against ridiculous nonsense will just become a profit center for those of us that know better.


As I'd mentioned earlier, due to the $250,000 FDIC recovery limit, keeping all of this in a checking account is INDEED a terrible idea, which is the primary reason I think this is fake.


*HINT: Gold prices are not attractive.

http://www.money-management-works.com/images/GoldChart1990-2011pg

1st bold: yeah good idea still is gold
2nd bold: how long with that last?
3rd bold: haha haven't thought of the mad max point of view, good fucking idea!
4th bold: True hence why i mentioned, guns, land, and food.

and finally 5th bold.. case closed... i think we got this already.. we all can agree this is some stupid shit here.

Maybe it was made with that generator thing posted above which is what really happen.