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(NJ.com)   Let he who has never kept $60,000 in cash at his apartment cast the first stone   (nj.com) divider line 48
    More: Unlikely, New Jersey City, apartments  
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5358 clicks; posted to Main » on 29 Dec 2012 at 11:38 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-29 10:36:32 AM
*casts stone*
 
2012-12-29 11:40:08 AM
*starts chucking rocks*
 
2012-12-29 11:41:17 AM
A friend of mine who died last year had 3 million in cash hidden in his bedroom.

3. Million. Cash.
 
2012-12-29 11:41:51 AM

FarkinHostile: A friend of mine who died last year had 3 million in cash hidden in his bedroom.

3. Million. Cash.


Incoming!
 
2012-12-29 11:44:12 AM
The drug business is profitable. I bet they still use EBT.
 
2012-12-29 11:47:44 AM
My Greek buddy and his dad are the same way. "I don't trust banks."

Enjoy your money at 0% growth. Hope you have fire insurance.
 
2012-12-29 11:50:03 AM
A Jersey City family that had just moved into an Ege Avenue apartment building was robbed of $60,000 in cash and nearly $15,000 in jewelry on Thursday one of the victims found herself locked out of her own home

The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction.


That's some mighty fine writing there, Lou.
 
2012-12-29 12:01:26 PM

S.A.S.Q.U.A.T.C.H.: My Greek buddy and his dad are the same way. "I don't trust banks."

Enjoy your money at 0% growth. Hope you have fire insurance.


With inflation, it's costing them about 2% a year to hide their money under their mattress.

Not that money market accounts are paying anything near 2%, but it's better than 0%.
 
2012-12-29 12:01:40 PM
"The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction."

Are you telling me they wont take a check at car auctions? Really?
 
2012-12-29 12:07:07 PM

ElBarto79: "The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction."

Are you telling me they wont take a check at car auctions? Really?


They do.
And don't like that much cash like many other reputable businesses.
 
2012-12-29 12:07:50 PM
Who opens the door to a buzzer?

Anyone I'd want to talk too would call first.

/
 
2012-12-29 12:08:32 PM
And this is why I simply hang up the intercom if people do not answer when I ask who's there. I'm not expecting anyone, they aren't telling me who they are and therefore it can't be important. If they keep ringing the bell I'll simply go out on the balcony to see who it is.
 
2012-12-29 12:20:46 PM
All I did was say to my wife, "That $60,0000 in cash was good enough for Jehovah!"
 
2012-12-29 12:24:18 PM
Someone in jersey city kept $60k in their apartment, not too smart.
 
2012-12-29 12:26:15 PM

wichitaleaf: ElBarto79: "The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction."

Are you telling me they wont take a check at car auctions? Really?

They do.
And don't like that much cash like many other reputable businesses.


That's what I thought. Seems the more likely scenario is they were involved in some shady business and someone who knew they kept the money at home decided to rip them off. They probably knew they had been robbed right away but waited an hour before calling the police to figure out their story
 
2012-12-29 12:34:14 PM

ElBarto79: "The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction."

Are you telling me they wont take a check at car auctions? Really?


I think it's codeword for "paying for used cars brought by shady people with missing paperwork".

Another business that deals with a lot of cash is scrapyards. Mostly because scavengers are the old types that don't trust the gib'ment and their taxes.

/csb

Used to work at a factory. One day someone stole about 10 grand worth of stainless steel conveyor parts waiting to be installed. Boss took a look at the scrapyards in the area and found his equipment. Thief got 400 dollars for it (which my boss had to compensate the scrapyard to get back). When the police came in the scrapyard to file the report and release of stolen goods, everyone else gave them the stink eye. My boss looked at me and whispered "Thieves, all of them."
 
2012-12-29 12:36:41 PM
Seems like a lot of planning went into this. May want to see who knew he kept lots of cash around.
 
2012-12-29 12:38:34 PM
Used auto parts requires a lot of cash.

Just saying.

/shocked I have never been rolled
//NYer
 
2012-12-29 12:40:09 PM
They knew what they were after, and knew exactly where to find it. Probably an insurance scam.
 
2012-12-29 12:42:52 PM
Lots of Blame the Victim here.

It's kind of scary how stigmatized carrying and using cash has become. It's almost as if there's a PR campaign out there (funded by the banks/credit cards/government no doubt) trying to make carrying cash out to be suspicious.

The victim should not have to justify why he's carrying cash. It's a normal thing to do. Carrying lots of cash does not make you a drug dealer or dishonest. Try going after the thieves instead of harassing the victims.
 
2012-12-29 12:43:01 PM
That's about $80K. I have a safe though. Otherwise not a real good picture. And for the Exif snoops, no I no longer live there.

img832.imageshack.us
 
2012-12-29 12:48:18 PM
upload.wikimedia.org
Sympathizes.
 
2012-12-29 12:53:00 PM

FarkinHostile: A friend of mine who died last year had 3 million in cash hidden in his bedroom.

3. Million. Cash.


Jesus man. Aside from the risk of losing all of that to a fire or a team of home invaders, just the logistics of handling that much cash is crazy. Did he have a hot tub in his room that he filled with cash so he could swim in it Scrooge McDuck style?
 
2012-12-29 12:59:38 PM

Loueloui: That's about $80K. I have a safe though. Otherwise not a real good picture. And for the Exif snoops, no I no longer live there.


Saving up for lipo?

This is going to be a good one.
 
2012-12-29 01:10:12 PM

stiletto_the_wise: Lots of Blame the Victim here.

It's kind of scary how stigmatized carrying and using cash has become. It's almost as if there's a PR campaign out there (funded by the banks/credit cards/government no doubt) trying to make carrying cash out to be suspicious.

The victim should not have to justify why he's carrying cash. It's a normal thing to do. Carrying lots of cash does not make you a drug dealer or dishonest. Try going after the thieves instead of harassing the victims.


Carrying a couple hundred bucks cash in your wallet is one thing. Keeping 60 grand in your house is another. Keeping that much cash in your home is not smart. That's a fact, and stating that fact does not make someone 'anti-cash'. Hey, I hate banks as much as the next guy, but there are better alternatives than storing your entire life savings in your home where it can be stolen by any jackass that breaks into your house. And if you're worried some sort of catastrophic economic collapse then hoarding cash is still the wrong way to go, since chances are it won't be worth the paper it's printed on.

Do I think it should be illegal or legitimately suspicious to have large amounts of cash? Of course not. And it sucks that someone ripped the guy off. But he's a victim of his own stupidity as much as he's a victim of theft.
 
2012-12-29 01:11:24 PM
Nah, just bigger pants. Because that's how we do it here in 'Murica. Maybe I will save a few dollars to visit you in your cardboard cottage. Oh, wait. Canada? That's punishment enough. You don't need my abuse.
 
2012-12-29 01:13:05 PM

Neondistraction: stiletto_the_wise: Lots of Blame the Victim here.

It's kind of scary how stigmatized carrying and using cash has become. It's almost as if there's a PR campaign out there (funded by the banks/credit cards/government no doubt) trying to make carrying cash out to be suspicious.

The victim should not have to justify why he's carrying cash. It's a normal thing to do. Carrying lots of cash does not make you a drug dealer or dishonest. Try going after the thieves instead of harassing the victims.

Carrying a couple hundred bucks cash in your wallet is one thing. Keeping 60 grand in your house is another. Keeping that much cash in your home is not smart. That's a fact, and stating that fact does not make someone 'anti-cash'. Hey, I hate banks as much as the next guy, but there are better alternatives than storing your entire life savings in your home where it can be stolen by any jackass that breaks into your house. And if you're worried some sort of catastrophic economic collapse then hoarding cash is still the wrong way to go, since chances are it won't be worth the paper it's printed on.

Do I think it should be illegal or legitimately suspicious to have large amounts of cash? Of course not. And it sucks that someone ripped the guy off. But he's a victim of his own stupidity as much as he's a victim of theft.


STOP BLAMING THE VICTIM!!!!!ONE!!!1
 
2012-12-29 01:30:11 PM
I know a guy who has 100K in his locking toolbox in the back of his truck.... so his wife won't gamble it...
 
2012-12-29 01:30:16 PM

Firststepsadoozie: They knew what they were after, and knew exactly where to find it. Probably an insurance scam.


Maybe like an inside job? Maybe there never was any money, and they got their friends together to fake up the job?

What decent mother walks out of the apartment with the door standing open, and goes downstairs, just to answer a wrong number at the door, when she knows damn well that not only is her newborn baby inside, there is also 60 thousand dollars cash and 15 thousand worth of jewelry inside?

Why don't you leave your baby and your cash and jewels out on the front lawn while you are at it? This sounds like a scam all right. Maybe by some "guest workers" who think American insurance companies are rich and stupid. "Miguel" right.
 
2012-12-29 01:31:38 PM

DerAppie: And this is why I simply hang up the intercom if people do not answer when I ask who's there. I'm not expecting anyone, they aren't telling me who they are and therefore it can't be important. If they keep ringing the bell I'll simply go out on the balcony to see who it is.


Screw going outside. Just call the cops and ask an officer to run them off.
 
2012-12-29 01:32:14 PM

Neondistraction: Do I think it should be illegal or legitimately suspicious to have large amounts of cash? Of course not. And it sucks that someone ripped the guy off. But he's a victim of his own stupidity as much as he's a victim of theft.


Are the victims stupid for keeping valuable jewelry in their house too? I know people that keep over $100,000 in jewelry in their bedroom, in a box the size of a microwave oven. Why is that less stupid than keeping $100,000 in cash stuffed in a dresser drawer?

We can all agree that they should have used a safe, but come on, I wouldn't call keeping valuables in your house stupid.
 
2012-12-29 01:43:26 PM

stiletto_the_wise: Neondistraction: Do I think it should be illegal or legitimately suspicious to have large amounts of cash? Of course not. And it sucks that someone ripped the guy off. But he's a victim of his own stupidity as much as he's a victim of theft.

Are the victims stupid for keeping valuable jewelry in their house too? I know people that keep over $100,000 in jewelry in their bedroom, in a box the size of a microwave oven. Why is that less stupid than keeping $100,000 in cash stuffed in a dresser drawer?

We can all agree that they should have used a safe, but come on, I wouldn't call keeping valuables in your house stupid.



If you had those valuables in your house, would you walk out and leave the door open for no damned good reason? and not bring a farking key with you? and leave your first born male child in there too? Does any of THAT sound stupid to you?
 
2012-12-29 01:46:18 PM

ElBarto79: "The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction."

Are you telling me they wont take a check at car auctions? Really?


The ones I've been to take cash, money orders or cashiers checks... making cash the easiest way to pay.

/Every time I watch "Storage Wars" I think... "Man, with a crew of two or three well armed guys I could easily roll all of those people in about 10 minutes."
//I'm a bad person I guess.
 
2012-12-29 01:52:38 PM
Loueloui: That's about $80K. I have a safe though. Otherwise not a real good picture. And for the Exif snoops, no I no longer live there.

[img832.imageshack.us image 640x480]

Every day you keep this in your safe, you lose a large starbucks coffee at even a piddling 2% interest rate. the only reason to have such amount of money at home is if you are either a nut or avoiding taxes.
 
2012-12-29 02:00:16 PM

Bomb Head Mohammed: Every day you keep this in your safe, you lose a large starbucks coffee at even a piddling 2% interest rate. the only reason to have such amount of money at home is if you are either a nut or avoiding taxes.


Most savings accounts I've seen offer less than 1% interest. So assuming you need to keep the money liquid, your choice is between instant availability in case of emergency vs. maybe-availability, a few pennies a month in interest, and the chance your bank will hit you with an "Oh We Forgot To Fee You" fee.
 
2012-12-29 02:28:27 PM
I really don't get the accusations that anyone keeping large amounts of cash is automatically doing it for criminal purposes. I have large amounts of cash at home, too. The most I ever had was about $6000, though right now it's rather less than that since I had a large expense recently. And I do have a bank account, so why, you ask, do I keep cash at home?

It's helps me save money.

I tend to be an impulse shopper, so if I have money in the bank (hence accessible via my debit card) it is way too easy to rationalize a small purchase here, and a small purchase there, until I find myself a lot poorer than I used to be. But if the money is at home, then it takes too long to get. In the hour or more it would take me to go get the money and come back to a store, my shopping impulse would have gone away. Money not spent is money saved!

I also pay cash for things as often as possible, even for big ticket things like computers. Partly I don't like the idea of all my transactions being monitored and logged by the banks and government. (They didn't need to do that when I was growing up, and they don't need to now either!) But mostly I pay cash so I can get coins back in change. That's another part of my savings plan, you see. I have more than $600 in coins at the moment. That's a kind of savings that is even less subject to impulse shopping, since if I want to spend that money I need to take it to the bank and convert it.

So please don't go around assuming that everyone who keeps cash on hand must be doing so for nefarious reasons, since that simply isn't true.

If you want to say that the money would be safer in bank because of the risk of fire or theft, then feel free, but you might also want to check how common such things really are. I don't know about the neighborhood the people in the story live in, but I've never lived in a place where I felt unsafe, and I doubt that I ever will since I'd be unlikely to move to such a location in the first place. The odds are with me, not against me.
 
2012-12-29 02:32:35 PM

Moriel: I really don't get the accusations that anyone keeping large amounts of cash is automatically doing it for criminal purposes. I have large amounts of cash at home, too. The most I ever had was about $6000, though right now it's rather less than that since I had a large expense recently. And I do have a bank account, so why, you ask, do I keep cash at home?

It's helps me save money.

I tend to be an impulse shopper, so if I have money in the bank (hence accessible via my debit card) it is way too easy to rationalize a small purchase here, and a small purchase there, until I find myself a lot poorer than I used to be. But if the money is at home, then it takes too long to get. In the hour or more it would take me to go get the money and come back to a store, my shopping impulse would have gone away. Money not spent is money saved!

I also pay cash for things as often as possible, even for big ticket things like computers. Partly I don't like the idea of all my transactions being monitored and logged by the banks and government. (They didn't need to do that when I was growing up, and they don't need to now either!) But mostly I pay cash so I can get coins back in change. That's another part of my savings plan, you see. I have more than $600 in coins at the moment. That's a kind of savings that is even less subject to impulse shopping, since if I want to spend that money I need to take it to the bank and convert it.

So please don't go around assuming that everyone who keeps cash on hand must be doing so for nefarious reasons, since that simply isn't true.

If you want to say that the money would be safer in bank because of the risk of fire or theft, then feel free, but you might also want to check how common such things really are. I don't know about the neighborhood the people in the story live in, but I've never lived in a place where I felt unsafe, and I doubt that I ever will since I'd be unlikely to move to such a location in the first place. The o ...


Most people said nefarious or crazy. I posit that you do indeed fit into one of those two categories :)
 
2012-12-29 02:42:54 PM
stiletto_the_wise: Bomb Head Mohammed: Every day you keep this in your safe, you lose a large starbucks coffee at even a piddling 2% interest rate. the only reason to have such amount of money at home is if you are either a nut or avoiding taxes.

Most savings accounts I've seen offer less than 1% interest. So assuming you need to keep the money liquid, your choice is between instant availability in case of emergency vs. maybe-availability, a few pennies a month in interest, and the chance your bank will hit you with an "Oh We Forgot To Fee You" fee.

Yes, keep thinking that. By all means keep your cash under your bed. And thanks for the loan.
 
2012-12-29 03:49:32 PM

Silly Jesus: Most people said nefarious or crazy. I posit that you do indeed fit into one of those two categories :)


Would you care to elaborate? I will admit, that as an American who actually tries to save money I am very much an outlier, but snark aside I fail to see anything wrong with it. The only problems with keeping the money at home are both trivial in my case.

1) The risk of fire or theft. This risk is vanishingly small compared to the very real problem of impulse spending.
2) The loss of interest earned in a bank account. Since I have so little money, and the interest offered by my bank is currently 0.25%, I'm really not missing anything inspiring.

I've found something that works for me, so what's crazy about it?
 
2012-12-29 04:05:56 PM

ElBarto79: wichitaleaf: ElBarto79: "The victim told police that he the large amount of cash in his home because he is a used car dealer and uses the money to buy cars at auction."

Are you telling me they wont take a check at car auctions? Really?

They do.
And don't like that much cash like many other reputable businesses.

That's what I thought. Seems the more likely scenario is they were involved in some shady business and someone who knew they kept the money at home decided to rip them off. They probably knew they had been robbed right away but waited an hour before calling the police to figure out their story


Pretty lame story.  It will be easy to verify whether he's a car salesman and where the cash came from.
 
2012-12-29 04:22:50 PM

BarkingUnicorn: Pretty lame story. It will be easy to verify whether he's a car salesman and where the cash came from.


Not neccessarily. I used to live next door to someone who bought and sold used cars as his primary source of income, but he was not a regular dealer or anything so there would not be any records of any kind to "prove" what he was doing. He just bought them from individuals most of the time and sold them the same way. He didn't even bother to get the titles put into his name since he only held the cars for a week or two at most. Was he breaking the law? Since he was doing it as an informal business, probably. He was not collecting sales taxes, for example. But he was hardly comparable to a drug dealer, for example. He was closer to someone who has garage sales every week.
 
2012-12-29 05:49:14 PM

stiletto_the_wise: Lots of Blame the Victim here.


It's not blame the victim, it's blame the idiot.
 
2012-12-29 06:40:32 PM

CujoQuarrel: Who opens the door to a buzzer?

Anyone I'd want to talk too would call first.

/


This is London, CujoQuarrel; It's not someone with cake... Unless that cake is made of dog poo and knives.
 
2012-12-29 07:58:49 PM

Moriel: BarkingUnicorn: Pretty lame story. It will be easy to verify whether he's a car salesman and where the cash came from.

Not neccessarily. I used to live next door to someone who bought and sold used cars as his primary source of income, but he was not a regular dealer or anything so there would not be any records of any kind to "prove" what he was doing. He just bought them from individuals most of the time and sold them the same way. He didn't even bother to get the titles put into his name since he only held the cars for a week or two at most. Was he breaking the law? Since he was doing it as an informal business, probably. He was not collecting sales taxes, for example. But he was hardly comparable to a drug dealer, for example. He was closer to someone who has garage sales every week.


i dont know about your area,but here,sales tax is collected when you register a vehicle,not at point of sale. it does seem a little strange that younger folks would keep that kind of cash around,but true story.about 20 years ago when my grand pa died,my aunt found 35k in the trunk of a car he had in his carport. course that never got reported.he was batshiat crazy too. even spent a little time in a mental hospital in the 60's and got electro shock therapy.
 
2012-12-29 10:17:26 PM

stiletto_the_wise: Are the victims stupid for keeping valuable jewelry in their house too? I know people that keep over $100,000 in jewelry in their bedroom, in a box the size of a microwave oven. Why is that less stupid than keeping $100,000 in cash stuffed in a dresser drawer?


Because you can't put the jewelry someplace where it can't be stolen but can still be accessed anytime it's needed. That money can be used just the same whether it's in your bedroom or in an account, but it's a lot easier to steal if it's in your bedroom. Keeping large amounts of cash in your home is an unnecessary risk that you don't need to take.

Also, jewelry is covered by insurance. Many insurance policies don't cover cash, and the ones that do usually have a limit of a few thousand dollars. It's possible you could get a specific policy to cover more, but you can bet your monthly premiums would be obscene. Seems silly to pay an overhead cost like increased insurance premiums when you could put that money in an account that is federally insured, accessible 24 hours a day, and will actually earn you money - a very small amount, sure, but I'd rather have my money earning me a miniscule amount of interest than paying extra money to some blood-sucking insurance company in case some asshole breaks into my house and steals the large amounts of cash.
 
2012-12-29 11:23:40 PM
maniacalclown:

Sympathizes.

upload.wikimedia.org



At last! An obscure Fark reference that I actually recognize!
 
2012-12-30 07:44:58 AM
I would never carry that much cash on me. The dog's a little shady though.

i73.photobucket.com

i73.photobucket.com
 
2012-12-30 02:40:45 PM

FizixJunkee: S.A.S.Q.U.A.T.C.H.: My Greek buddy and his dad are the same way. "I don't trust banks."

Enjoy your money at 0% growth. Hope you have fire insurance.

With inflation, it's costing them about 2% a year to hide their money under their mattress.

Not that money market accounts are paying anything near 2%, but it's better than 0%.

.
But they probally saved 50% in taxes.
 
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