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(Nashua Telegraph)   Man buys coins, stops payment on checks, will be sent to £MITA prison   (nashuatelegraph.com) divider line 39
    More: Dumbass, Nashua, recognizances  
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8557 clicks; posted to Main » on 26 Dec 2012 at 10:35 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



39 Comments   (+0 »)
   
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2012-12-26 07:28:21 PM
People still take checks?
 
2012-12-26 10:09:29 PM
I like this headline.
 
2012-12-26 10:36:53 PM
That's an old crime and one that's massively stupid. It's so easy to catch. Did he really think they wouldn't do anything about it?
 
2012-12-26 10:41:33 PM
I wonder if the bondsman was stupid enough to take a personal check from him.
 
2012-12-26 10:42:21 PM
assets0.ordienetworks.com
For you, subby
 
2012-12-26 10:44:16 PM

Satanic_Hamster: That's an old crime and one that's massively stupid. It's so easy to catch. Did he really think they wouldn't do anything about it?


Can only imagine he thought he was the first...
 
mjg
2012-12-26 10:59:51 PM
+1 subby

/not many ol' school fark headlines like this these days
 
2012-12-26 11:01:32 PM
Shouldn't the minimum bail in a case of theft/fraud be the value of the item(s) stolen?
 
2012-12-26 11:02:23 PM
"Ha! These dumb dealers think I'm paying them, when really all I'm giving them is worthless pieces of paper! With my full name. And address. And bank account number."

That being said, I still can't quite figure out why dealers at coin shows are willing to take personal checks. Or, for that matter, why they're willing to let go of so much "real money" (gold and silver) in exchange for mere worthless fiat greenbacks whose value is sure to "return to zero".
 
2012-12-26 11:03:01 PM
That is to say, not counting virtual "values" of intangible items of interest to the MAFIAA. (Music And Film Industry Associates of America)
 
2012-12-26 11:05:15 PM

jfarkinB: "Ha! These dumb dealers think I'm paying them, when really all I'm giving them is worthless pieces of paper! With my full name. And address. And bank account number."

That being said, I still can't quite figure out why dealers at coin shows are willing to take personal checks. Or, for that matter, why they're willing to let go of so much "real money" (gold and silver) in exchange for mere worthless fiat greenbacks whose value is sure to "return to zero".


I love the notion that the value of "precious metals" is somehow more rational and less arbitrary than the value of "fiat" currency.  Especially given that most of the people who believe that seem to also believe that the collapse of society is imminent.

If society does collapse, at least I could wipe my ass with paper currency, or start fires.  Those gold coins are just going to be a burden, and worth just as much.
 
2012-12-26 11:08:35 PM
Nice jorb subby.
 
2012-12-26 11:10:25 PM

mjg: +1 subby

 
2012-12-26 11:15:28 PM
This is just two different causes of dumb. First who accepts personal checks at a trade show. Second, why would you use an active account and or an account with your name on it?
 
2012-12-26 11:23:01 PM
Why on earth would anyone imagine they could get away with this? If he had to stop the checks instead of just letting them bounce, then that means he at least had enough money to cover the coins he bought in a legal checking account, so it's doubtful that this is an insane homeless person.
 
2012-12-26 11:27:48 PM
headline of the year. right here.
 
2012-12-26 11:42:38 PM

kingoomieiii: I like this headline.

 
2012-12-26 11:49:31 PM
I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.
 
2012-12-26 11:55:51 PM
But what exactly did he buy/steal and for how much?

If it's Krugerrands and $44,000 that's one crime, If it was Those comicly large cast resin coins you see offered as home decor at coin shows and 75 bucks it's another crime altogether
 
2012-12-26 11:57:25 PM

TOSViolation: Shouldn't the minimum bail in a case of theft/fraud be the value of the item(s) stolen?


Bail? OK, here, lemme just write you a check...
 
2012-12-26 11:59:14 PM

Aces and Eights: I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.


lmgtfy
Link
 
2012-12-27 12:10:41 AM
xkcd.com
 
2012-12-27 12:10:47 AM
I am surprised he found dealers that took checks and let him have the coins. The few dealers that take checks usually won't hand over the coins until the check clears.

jake_lex: jfarkinB: "Ha! These dumb dealers think I'm paying them, when really all I'm giving them is worthless pieces of paper! With my full name. And address. And bank account number."

That being said, I still can't quite figure out why dealers at coin shows are willing to take personal checks. Or, for that matter, why they're willing to let go of so much "real money" (gold and silver) in exchange for mere worthless fiat greenbacks whose value is sure to "return to zero".


The precious metals business works on the premium and being able to balance their bets on price movements. They also purchase below spot. If they do it correctly they can replace their inventory and have profit left over that they can either keep in FRNs or purchase more metals with.

I love the notion that the value of "precious metals" is somehow more rational and less arbitrary than the value of "fiat" currency.  Especially given that most of the people who believe that seem to also believe that the collapse of society is imminent.

If society does collapse, at least I could wipe my ass with paper currency, or start fires.  Those gold coins are just going to be a burden, and worth just as much.


Tell it to Mr. Soros and Mr. Paulson.

http://www.bloomberg.com/news/2012-11-20/soros-buying-gold-as-record- p rices-seen-on-stimulus-commodities.html

BTW, why are you hording paper money? Don't you have your money in a bank? Those digits in a computer will neither wipe your ass or start fires.
 
2012-12-27 12:17:12 AM

pete1729: But what exactly did he buy/steal and for how much?

If it's Krugerrands and $44,000 that's one crime, If it was Those comicly large cast resin coins you see offered as home decor at coin shows and 75 bucks it's another crime altogether


www.nationalcollectorsmint.com

Never forget.
 
2012-12-27 12:20:05 AM

Begoggle: Aces and Eights: I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.

lmgtfy
Link


Oh. OK. I did get it the second time around. I didn't know that was a "thing."

Thank you Begoggle, and thank you FARK for educating me in the ways of the world.
 
2012-12-27 12:47:35 AM

soj4life: This is just two different causes of dumb. First who accepts personal checks at a trade show. Second, why would you use an active account and or an account with your name on it?


They probably ran it through some sort of verification system.


I'm wondering if this is some of the sovereign citizen crap.
 
2012-12-27 01:10:09 AM

fusillade762: People still take checks?


Yes. I know the grocery chains in my area do.
 
2012-12-27 01:11:41 AM

jfarkinB: That being said, I still can't quite figure out why dealers at coin shows are willing to take personal checks. Or, for that matter, why they're willing to let go of so much "real money" (gold and silver) in exchange for mere worthless fiat greenbacks whose value is sure to "return to zero".


Because those worthless fiat greenbacks are more liquid and they have bills to pay.
 
2012-12-27 01:33:25 AM
meh.

try again subby:

Man pleads guilty to stealing $69,000 in antique coins, will be sent to £MITA prison

/unless you're the subby of that one also
 
2012-12-27 03:44:40 AM

Aces and Eights: I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.


It's a play on PMITA (pound me in the ass) prison.
 
2012-12-27 03:49:50 AM

Aces and Eights: Begoggle: Aces and Eights: I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.

lmgtfy
Link

Oh. OK. I did get it the second time around. I didn't know that was a "thing."

Thank you Begoggle, and thank you FARK for educating me in the ways of the world.


It's also a reference to the movie, "Office Space". Office Space--PMITA prison
 
2012-12-27 06:03:17 AM

Bathia_Mapes: Aces and Eights: Begoggle: Aces and Eights: I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.

lmgtfy
Link

Oh. OK. I did get it the second time around. I didn't know that was a "thing."

Thank you Begoggle, and thank you FARK for educating me in the ways of the world.

It's also a reference to the movie, "Office Space". Office Space--PMITA prison


I will make a point of using this phrase at least 5 times today in conversation. Folks at the office will be impressed with my expanded vocabulary.

Thank you!
 
2012-12-27 06:19:17 AM

Aces and Eights: Bathia_Mapes: Aces and Eights: Begoggle: Aces and Eights: I feel stupid. I don't get the headline.
"Pound Mothers in the Article?"

Oh....I think I just figured it out. I got the "pound" and "in the" parts right, right?

/still not entirely sure though.

lmgtfy
Link

Oh. OK. I did get it the second time around. I didn't know that was a "thing."

Thank you Begoggle, and thank you FARK for educating me in the ways of the world.

It's also a reference to the movie, "Office Space". Office Space--PMITA prison

I will make a point of using this phrase at least 5 times today in conversation. Folks at the office will be impressed with my expanded vocabulary.

Thank you!


Heh!

I accept no liablity for any weird looks you get from your co-workers. :-D
 
2012-12-27 09:11:24 AM

fusillade762: People still take checks?


What I don't get is why the US makes this a criminal offence. Waste of money for the police, the prosecutor, the judge and the prison if the guy goes down.

Leave the vendor to sue the purchaser. The court can recover its costs from him too. Job done.

/ can't believe any retailer would accept a cheque...

// they don't in the UK. Unless you want to wait a week for it to clear before you get your goods.
 
2012-12-27 09:45:45 AM

opiumpoopy: / can't believe any retailer would accept a cheque...

// they don't in the UK. Unless you want to wait a week for it to clear before you get your goods.


Weird. Back in college (1980's), I paid for most purchases -- groceries, clothing, whatnot -- via check. I guess the rate of bounced checks was low enough to make it worth their while.

I've actually come across quite a few dealers at coin shows who were willing to take checks; I suppose even today most people aren't criminals. And, yes, joking aside, I do understand the economics of the precious-metal trade; I'll happily buy silver quarters for $5 each and sell them for $5.50 each all day, regardless of what I think will or won't happen to the dollar in the long term. The really interesting stuff goes for a lot more than metal value anyhow.

/wouldn't take checks from strangers, though
 
2012-12-27 10:45:55 AM

jake_lex: jfarkinB: "Ha! These dumb dealers think I'm paying them, when really all I'm giving them is worthless pieces of paper! With my full name. And address. And bank account number."

That being said, I still can't quite figure out why dealers at coin shows are willing to take personal checks. Or, for that matter, why they're willing to let go of so much "real money" (gold and silver) in exchange for mere worthless fiat greenbacks whose value is sure to "return to zero".

I love the notion that the value of "precious metals" is somehow more rational and less arbitrary than the value of "fiat" currency.  Especially given that most of the people who believe that seem to also believe that the collapse of society is imminent.

If society does collapse, at least I could wipe my ass with paper currency, or start fires.  Those gold coins are just going to be a burden, and worth just as much.


You can't be serious. I don't even know where to start on what's wrong with everything you just wrote.
 
2012-12-27 04:07:39 PM
"Oh, a check! I thought you wanted money!"


-Jeff Foxworthy
 
2012-12-28 02:56:46 PM

pete1729: If it was Those comicly large cast resin coins you see offered as home decor at coin shows and 75 bucks it's another crime altogether


Hey now, those are legal tender in Liberia you know.
 
2012-12-29 12:41:38 PM

Loren: soj4life: This is just two different causes of dumb. First who accepts personal checks at a trade show. Second, why would you use an active account and or an account with your name on it?

They probably ran it through some sort of verification system.


I'm wondering if this is some of the sovereign citizen crap.


I worked at a bank, those systems are useless.

If it was, why would they use a bank backed by the big ole government?
 
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