How Do the Insanely Wealthy Actually Pay for Something Worth Hundreds of Millions of Dollars?

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As we’ve discussed before, there are a handful of people walking around right now with a hyper-exclusive jet-black American Express credit card in their wallets that they could theoretically use to buy anything currently for sale, regardless of its cost. In fact, the current record we could find charged on such a credit card is $170 million charged by Chinese billionaire, Liu Yiqian, who no doubt is the world record holder for those sweet, sweet flight mileage points. But let’s imagine for a moment that a super-rich person didn’t have such a card or for whatever reason wanted to buy something worth millions of dollars not with a credit card, but cash.
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2 окт 2024

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Комментарии : 2,5 тыс.

@TodayIFoundOut 5 лет назад

Thank you RetailMeNot for making this possible. Check out RetailMeNot here: bit.ly/2BXvyAk

@matthewhammond9575 5 лет назад

Today I Found Out Can you talk about civil asset forfeiture laws in the US? People in the US will have their accounts and property seized because they avoided the reporting requirements by making multiple deposits under $10,000.

@RedOnly 5 лет назад

Wow!! Retail me not looking s good as advertised :) I like listening to your videos while I do other things (two birds and all that ;p) The app just saved me 10 bucks on my Amazon order! Thanks

@SICresinwrks 5 лет назад

Using this instead of honey to help support the channel

@dalezapple2493 5 лет назад

Damn! High finance is SO annoying 😠

@AgnotologyTV 5 лет назад

I would, but I'm already using honey. Same thing but with way better privacy policies.

@Minotaur1975 5 лет назад

Have a Centurion card? We can get you Dead Sea sand for free Have a normal card? We're charging you a fee to receive monthly paper statements

@iliatchaplinski 5 лет назад

Tom did not say they did it for free. The hire of the courier and the delivery fee were charged to the card. Is just that the company has someone there for the rich guy to arrange such transactions. The assistant is free, the actual delivery of the sand is not.

@jiggely_spears 5 лет назад

@@iliatchaplinski The assistant isn't free - when I had my Centurion Amex 20 years ago it cost £600 / year

@iliatchaplinski 5 лет назад

@@jiggely_spears , even better. Sounds like the card is just a set of services that rich people might find useful and are willing to pay for. Reasonable enough.

@mp40submachinegun81 3 года назад

@@jiggely_spears mine is $1500 Canadian.

@PersonalPariah 3 года назад

In fairness, that seems like a pretty easy request to fulfil. Contact someone within arms reach of it, pay someone to mail you a jar. Done.

@eurosonly 5 лет назад

I just walk into a store and throw gold bars at the cashier.

@Scum42 5 лет назад

Assault, and settlement for the assault, in the same motion.

@hydrolito 4 года назад

That could be assault hitting someone with something hard.

@nowthatsjustducky 4 года назад

Wrap the gold bars around slices of lemon, and you could claim the cashier was drunk from a Pangalactic Gargleblaster.

@captainkenzie6873 4 года назад

I stole all of my gold from the national reserve

@dragonicbladex7574 3 года назад

@@nowthatsjustducky *G A R G L E B L A S T E R*

@athenaa23 5 лет назад

Guy 1: What are you in for? Guy 2: Murder. What about you? Guy 1: I paid for a yacht in cash. Guy 2: ???

@fistpunder 5 лет назад

LOL

@biggiejohn3360 5 лет назад

the person BUYING the yacht wouldnt go to jail, the SELLER would

@Damin-Danger-Ledford 5 лет назад

Athenaa, bet u that even if the buyer did go to jail, they would In a different prison. At home or club fed; all rich peopled perks aside, most murderers get regular jail/prison. Anything $ is usually federal.

@Damin-Danger-Ledford 5 лет назад

Athenaa, funny comment tho. It's crazy what people get jailed for nowadays

@hackernews5280 5 лет назад

Blac youngsta got arrested for taking out 200k lol the bank gave it too him an still called the police just for being black.he was trying to buy a new Mercedes So it could probably happen.

@ninjanerdstudent6937 5 лет назад

This is the longest American Express ad I have ever watched.

@isaacsamuel9520 5 лет назад

(≧▽≦)(≧▽≦)

@iniquity123 5 лет назад

🤣👌

@King4sshole89 3 года назад

And by far the most effective and interesting.

@Rybread52 3 года назад

Ironically a Visa ad played for me before this video lol

@goopah 5 лет назад

Interesting. I know of a guy near me who had a decent job for about 20 years, but lived modestly in an apartment. Every payday, he got paid more than he needed, so he started collecting hundred dollar bills and keeping them in a box in his apartment, just for fun. He also had investments, but his extra cash he kept in literal cash in a box. At first, this was fun for him, but as time went on (we're talking 20 years here), he amassed a huge amount of cash. Amazingly, he didn't get robbed, nor did his apartment building burn down (Nor did he collect the amazing interest he could have been earning over all that time). However, when the time came (he was in his 40's) that he finally wanted to buy a house, he found an appropriate house, and decided he would like to pay 50% as a down-payment. In cash. He took his cash box into the bank to make his down-payment, and was stunned when the bank told him that much cash was going to be a big problem. I can't remember the reasons they told him, but there was more than one (possibly money-laundering, drug dealing, counterfeiting, etc. all had to be ruled out). It took him a week or two to sort through the problem, but eventually it got solved, and he got his house.

@Alex-cw3rz 5 лет назад

It is quite amazing how the richer you get the more free stuff you are given

@amoghbv 5 лет назад

There is no such thing as a free lunch buddy.The bank give there rich clients assistants so they can keep there client hooked to there bank

@Alex-cw3rz 5 лет назад

@@amoghbv I know why they give them the money under the system we run under that has to be a reality But it's just incredibly ironic when you think of who actually needs these things with all the poverty there is across the globe

@Josh_Fredman 5 лет назад

So true. Poor people have to pay for every last paperclip. But if you're rich, you can get sand from the Dead Sea shipped to your house on a whim, at no cost. It's amazing how many businesses, from restaurants to car dealers, refuse to charge rich people. And, honestly, it's disgusting.

@raymondthrone7197 5 лет назад

@@amoghbv There certainly is such a thing as a free lunch. You just need to be valuable enough that companies are willing to soak the cost in exchange for the _possibility_ of you becoming a client.

@peterdvornik 5 лет назад

I see someone's a fan of Daniel tosh

@blaster-zy7xx 5 лет назад

Simon is correct. I own my business and when it became successful, I was surprised at what I did NOT have to pay for anymore. I had a personal concierge associated with my credit card. I never used him until we were skiing in vail and we checked to find out all the airlines were cancelling flights due to weather. Instead of doing all the legwork myself, I decided to call my credit card concierge. He did all the work of booking two more nights in Colorado and rebooking my flights home. Didn't cost me a dime. I'm still pretty small time but It made me think that the super rich and famous don't pay for almost anything. I'll be the first to admit that it just isn't fair.

@16randomcharacters 2 года назад

Oh, it's not free, you (or at least your customer cohort average member) already paid for it with interest and fees.

@Psychonautical89 2 года назад

There are plenty of issues with the elites and what they get away with, but as far as not paying for some things or even skating on tax laws, it's because you DO pay for a lot more than the average person. I assume you pay your employees, you paid for your house, you pay for all the suppliers or whoever else you do business with. Your success contributes to the economy and success of others far more than someone just working a standard 9-5 elsewhere. Again, not saying you're wrong necessarily or that the rich in general don't have issues, but to frame it as "we don't pay for anything" leads to college communists, and those dopes never move past the first stage of calculations like this. I've seen so many of them throw out childish examples such as yachts and private jets or whatever other rich people toys they are jealous of as if to purchase one of those just means one rich person paying another single rich person, rather than the entire army of workers, maintenance people, salesmen, and all the smaller employees below them that keep the facilities involved with such a product running. They completely eliminate the dozens of not hundreds-to-thousands of people that are REQUIRED to build, market, sell, register, clean, fix, and transport something as massive as a plane or ship from their equation and just walk away with such a reductive assumption such as, "the rich never pay for anything." Simpletons.

@blaster-zy7xx 2 года назад

@@Psychonautical89 I didn't say that the rich don't pay for anything. My only point is that the rich don't pay for many things that normal people do, and you might be surprised at what those things are. I know I was.

@blaster-zy7xx 2 года назад

@Arthur Morgan I own a small product development company in the medical field. Mine is a small fry company compared to many, but it did open my eyes to what the more wealthy do NOT pay for. Because I have my business account at my bank, I pay no interest on any credit cards or checks, I pay no fees for any bank services, I do not pay for taking money out of ANY ATM. ( I'm reimbursed fees for any foreign ATM withdrawals) and I pay zero for cashiers checks. We also went on a vacation trip recently and paid nothing for airfare, nothing for a suite at a top notch hotel and nothing for high end restaurants. It all came from points and benefits from doing normal business. And I'm small fry. That just makes me think what some of the big boys get away with.

@___Anakin.Skywalker Год назад

I didn't get it. You mean everything was for free? Can you explain it again pls

@zapfanzapfan 5 лет назад

Imagine the disappointment being George Clooney's 15th closest friend...

@redwolfexr 5 лет назад

I have a suspicion that Clooney wanted to bail one or two of them out in particular and figured that being singled out the guys pride would get in the way. It was worth 14M to him to help the targeted ones. Just a guess, mind you. Plus its good PR.

@Minotaur1975 5 лет назад

@@redwolfexr You can buy a lot of Nespresso capsules for that

@redwolfexr 5 лет назад

@@Minotaur1975 heh, I have a superautomatic.. no capsules.

@redwolfexr 5 лет назад

@@spock7945 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-g9e23eH2svM.html (Clooney shills Nespresso) Nespresso are pre-ground in pressurized capsules. Superautomatics are like what they use at Starbucks and fresh grind coffee every cup.

@mommytorres16 5 лет назад

@@spock7945 you're on RU-vid. Look up "Clooney Nespresso" and watch the videos. They should absolutely be here.

@jiminverness 5 лет назад

"Don't get us started on Nicholas Cage?" What about Nicholas Cage? Don't just leave us hanging. You brought him up. Spill the beans.

@deborahhanna6640 5 лет назад

Jim Inverness he is famously infamous for buying bizarre things like fully assembled dinosaur bones & has been bankrupt (cash-wise) while still having several homes & eventually making some REALLY crappy movies just to generate some cash flow. I believe he is the reason that the old "he must have massive student loans" meme came into being.

@collinmonser9857 5 лет назад

Jim Inverness He earns millions of dollars and still spends money way beyond his means. He bought multiple European villas and other outlandishly expensive things to the point where he went broke like Mike Tyson

@scottgardner2950 5 лет назад

More like spill the bees

@johanjonsson6504 5 лет назад

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-QjtlJgK-PXc.html here

@deborahhanna6640 5 лет назад

Scott Gardner lol! NOT THE BEES!

@Arizona4everGirl 5 лет назад

Worked as a teller through college. We were told in training that most people wanting HUGE amounts in cash, the largest concern was that they were being blackmailed or kidnapping payment.

@sbalogh53 5 лет назад

I take cash with me when I go overseas for 5 months at a time. The exchange rate for cash at non-bank exchanges, and the lack of various bank fees saves me about 10-12% compared to using an ATM. I always have to book the withdrawal from the bank a couple of days before, and have to declare at the airport because the amount is well over the $10,000 declaration limit. Other than that I have no problems with cash and prefer having it to using a card and ATMs. I do, of course, still carry a couple of cards in case of emergency or if I am caught short of cash when out on the town.

@james-p 5 лет назад

@@sbalogh53 Odd. I get a better exchange rate withdrawing cash from my checking account at a foreign ATM than I get exchanging cash at the best rates in Los Angeles. So I hit an ATM as soon as I walk off the plane. Maybe that's just my bank tho.

@sbalogh53 5 лет назад

@@james-p ... That might be the case if I converted dollars to Thai Baht in my local bank in Australia, but I take Australian dollars with me and convert to the Lo oval currency overseas. Much, much better rates that way. Also I don't convert at any of the banks but at a franchise called SuperRich who have the best rates in Bangkok. Anyway it works for me. :)

@sbalogh53 5 лет назад

@@chadwillett619 ... Not $500 to a random person but $50 a few times. I did give US$500 to a charity that was supposed to help families of the 911 event in New York back in 2001. Why do you ask?

@chadwillett619 5 лет назад

@@sbalogh53 you sound rich, I could use 500 dollars, that's why I gave you my address it's a joke.

@CluelessHomesteaders 5 лет назад

I downloaded it. I worked for an accountant in TX. We had a doctor client who wanted to buy a million dollar house with his Amex because he wanted the miles.

@rileyfenley522 5 лет назад

Clueless Homesteaders sounds like my grandparents, they have planned their funerals and paid and paid for them with their amex for the miles. They have multiple houses already but im sure they’d do the same thing.

@2headedtasman200 5 лет назад

Tbh that's what I’d do. I need my miles.

@Bacopa68 5 лет назад

@@rileyfenley522 Better stay in their good graces. It will be worth it to you some day.

@notosure2148 5 лет назад

xD Please post this to Dave Ramsey. He's always ranting about millionaires not caring about "miles and points" when it comes to credit cards.

@natashakay7744 5 лет назад

Clueless Homesteaders a million dollar limit on amex I know they have that black card but wow

@andrewbrown7976 5 лет назад

I withdrew $17k in cash to pay my carpenter and concrete subcontractors. The bank gave me all sorts of a hard time. Multiple forms had to be filled out. I did get an escort to my car though.

@chrisj197438 5 лет назад

Good thing you went through the trouble. Some people are tempted to make multiple withdrawals or deposits for under the amount that requires reporting it to the government which is illegal under federal law and will put you in prison. I personally know a man who received 17 months in prison for it.

@DJRonnieG 5 лет назад

I like that, pointing out the annoying part but also looking at the situation in a positive light, "I did get an escort to my car.."

@andrewbrown7976 5 лет назад

DJRonnieG a couple forms was an inconvenient but it was only around 10 minutes. they let me use one of their private rooms to divide it up into envelopes. I felt really rich....for about 4 hours.

@andrewbrown7976 5 лет назад

Chump Johnson I did ask as i was doing the paperwork about that. they said the systems look for that type of activity. true? I don't know. they did have to give me a stack of twenties as I didn't know I should have called ahead.

@DJRonnieG 5 лет назад

@@andrewbrown7976 I gotcha, it seems that a minor inconvenience outweighed the ensuing convenience of being provided a relatively secure space to count and sort. Definitely way safer than doing it in the car, or in a messy kitchen. Not saying your kitchen is messy, just saying.. it's easy to be frazzled counting lots of cash in anything room that isn't neat.

@eustache_dauger 5 лет назад

With nuka-cola bottle caps of course..

@dustinp120 5 лет назад

Those are worth one seventy-sixth of what they use to be worth. If you saved enough they might get you a one way from West Virginia back to New Vegas if your luck is special.

@cannibalbananas 5 лет назад

Yes! I knew I was hoarding mine for a reason.

@JoeBob79569 4 года назад

I'd definitely watch a TV show about one of these "personal assistants" and the antics they get up to while trying to fulfill requests for the super rich. Seems they can "get things done"..

@kinderjoker 4 года назад

I'm having a lot of fun watching this, currently unemployed and living with my parents..

@godbearxd 4 года назад

Bro same 😂

@MackAlton 4 года назад

Never too late to change that

@MackAlton 4 года назад

Currently unemployed and living in a very shitty apartment.... so yea i should also get on that

@holdenbaldassi3697 3 года назад

How do you do it? How or why do they support you? How do you get laid or buy things or enjoy your life? How old are you?

@kaldo_kaldo 3 года назад

What I'm seeing is that you have no expenses and no stress. Good for you!

@palehorntea 5 лет назад

Am i the only one that hears faint 8-bit video game music in the video? Like someone was playing pokemon in the background while he was recording?

@Lex-Rex 5 лет назад

Some subliminal shit man.

@onespiceybbw 5 лет назад

i heard it too. it was making me nuts, i'm glad it wasn't just me!

@abasi-dominiquerawlings1470 5 лет назад

They're definitely in a fierce battle with Sgt Surge for the voltage badge

@kitecorbin3914 5 лет назад

I thought that was my roommate!

@larrydrozd2740 5 лет назад

I used my black card when I bought my 4 Lambo's and 3 Ferarri's. It was easy and they had no problem. Then I woke up.......

@mountainman6172 5 лет назад

Surprised you didn't take an arrow to the knee. If you know; you know. lool

@OrNaurItsKat 5 лет назад

Excuse me Larry, but where is my Bugatti?

@YJ0AUF 5 лет назад

A better dream than mine. I dreamed I was eating marshmallows and when I woke up I couldn't find my pillow...

@sidgar1 5 лет назад

I dreamed I was eating chocolate pudding. Then I woke up with a spoon in my ass 💩

@CharacterMatterz 5 лет назад

@@YJ0AUF I see what you did there...

@beavis4763 5 лет назад

Im still waiting for my $10 Billion dollar cheque from a Nigerian prince.

@assasain999 5 лет назад

Uhhuhuhuhuh.... you said nigerian

@louisdangelo6253 5 лет назад

I got mine yesterday, takes 30 days to clear due to international banking laws ... 🤪

@allnamesaretakenful 5 лет назад

Wow, you are lucky, I'm only waiting on 1.4 Million dollars from a Nigerian Prince.

@Otokichi786 5 лет назад

A while ago, the "Chinese Minister of Mines and Heavy Industry" was trying to get mr interested in a smuggling operation. The enterprise was underwritten by a "Kim Jong-Il."

@winnifredforbes8712 5 лет назад

Excellent!

@chouavue9056 5 лет назад

least now we know the price cap for future smart phone. 10k.

@jannor321 5 лет назад

Banks are going to start doing phone loans at that point

@spydercatd8238 4 года назад

If somebody ever pays 10K for a phone, I'd rather never know about it.

@hubertboisvertboucher2071 4 года назад

"Those guys got Al Capone, they can get anyone" Actually made me laugh out loud ! :D

@Tim.Stotelmeyer 3 года назад

Even The Joker is scared of them.

@TheMickyb1994 5 лет назад

Used to work at a payments (visa/mastercard etc) provider, there was an in house story where one particular scenario where a very rich arab prince decided he would like to buy the entire inventory of an exclusive jewelley shop in dubai. The number of bits allocated in the transaction file was not sufficient to carry the number of digits in the transaction and failed, the arab prince was very displeased at this scenario as this was the first time in his life his card had failed him.

@didiyuyu522 2 года назад

hahahaha

@savagedragon79 5 лет назад

Amex black card! No limit but you have to pay in full when the bill comes. I came across one working at a gas station before. That thing is heavy compared to a normal card.

@greatleader4841 5 лет назад

thats the updated version, my ex's dad had one and it was plastic. but yes, you have to pay the bill within 3 months.

@AirQuotes 5 лет назад

I knew a guy who had Business cards covered in gold. They were made of standard steel or something but painted with gold. He owned a fleet of private planes and was very flirty but very respectful and an excellent tipper

@davidwolfe7309 5 лет назад

A card made of gold would be to soft. Gold plating wears off over time. Jewelry is mixed with other metals to harden it. 18 carat gold is used for jewelry not exposed to daily wear. 14 carat gold is less gold and more other metals to harden it for daily wear. 24 carat gold is so soft it can be scratched with a thumbnail. Plastic is harder than gold and cheaper to manufacture in many colors and designs.

@jasonevans4970 5 лет назад

It does sound kinda cool, even if it violates the earn quickly, spend slowly rule for most ppl.

@jacquesmerl2977 5 лет назад

Only if they want to flex. You get a standard plastic card with the titanium one. The only reason not to use it is to show off

@Destide 5 лет назад

I've processed black amex cards never realised they were that exclusive made of metal too if I remember right.

@CordovaMage 5 лет назад

Explains why a car dealership refused my cash offer to buy a car. It is kind of amusing. You get punished in society if you dont play along with the banking system.

@TheBaldr 5 лет назад

Hmm, must find a way to agree to buy a car, sign it over then pull out the cash, once your indebted, they are legally obligated to take it.

@kingdomseeker88 5 лет назад

Many dealerships makes more on the interest from financing a car than the price. #debtslaveryscam

@mattdavidson535 5 лет назад

100% correct, contrary to popular belief, paying cash will actually hurt your pricing often. Many of the rebates, and deals on NEW cars especially require that you finance with the dealers preferred lender.

@pupasarus 4 года назад

Yeah just buy a car from an individual. Much less depreciation.

@peterkoller3761 4 года назад

@@mattdavidson535 only stupid people buy new cars and throw away 25% of the car value just by signing the contract, without even having turned the key yet to start it. My rules: 1. only buy used cars; 2. only pay cash - if the seller doesn´t like it: bad luck for him, I´ll buy somewhere else.

@lay-dee 5 лет назад

Me: I found a $10 bill in my purse I forgot was there! 😁 Simon: ....Floyd Mayweather has been known to walk around with more than a million dollars in cash on his person.

@Lovuschka 5 лет назад

There's a picture currently going around (probably fake). Some guy asks "What Apple product could you buy with the money in your bank account?" Bill Gates: "Apple"

@gerRule 5 лет назад

Most likely fake, bill gates net worth is only about 1/10th of what apple is worth

@fridaycars9029 4 года назад

Apple is worth over $1 trillion, bill gates still couldn’t afford to buy Apple if he multiplied his wealth by 50 lmaooo

@h.m.5724 3 года назад

@@fridaycars9029 I see someone can't do simple Maths.

@vooveks 5 лет назад

"WHY COULDN'T I HAVE BEEN ONE OF THE PEOPLE THAT LET GEORGE CLOONEY SLEEP ON THEIR COUCH IN THE LATE 80s?! WHYYYY?!!!"

@gerRule 5 лет назад

Imagine being the guy that let him sleep on his couch but the wife came home and made him kick him out

@jazoinklastname4289 4 года назад

@Behavior & Handwriting Reveal the Truth with u 😳

@godbearxd 4 года назад

Because I wasn't born yet

@t185bear 3 года назад

My dad used to let his buddy crash on his couch when they were both in their late 20s. The dude became rich years later, and a billionaire years after that. They probably haven't spoken with each other in 40 years.

@corynorell3686 5 лет назад

Anyone else only see 'How Do the Insanely Wealthy Actually Pay for Something' and assume this was just going to be about a coffee or something?

@doll_dress_swap12 5 лет назад

This is what I'm actually interested in too! If you usually throw around thousands of dollars at a time, how do you go about your everyday cup of starbucks? Do you use your black card for something like that? Lol

@jdrancho1864 5 лет назад

So did I, actually. I thought it would be stories about rich people either throwing Benjamins around like they are going out of style, or going about their day with zero cash in their pockets, just a business card to let merchants know where to send the bill.

@legateelizabeth 5 лет назад

Cory Norell If you're curious, as someone who knows a multimillionaire, usually they'd just use a credit or debit card like you or me. It's the same process, just that if they ever check their balance it comes out as ???'s. If they need cash for whatever reason it tends to come in £50's and they don't bother with change. So y'know, a taxi driver owed £30 is getting a £20 "tip", things like that.

@winnifredforbes8712 5 лет назад

Nope. But since you mentioned it!

@jamesleaty7308 3 года назад

They use a credit card. The AMEX was really popular. The security of credit card, and global acceptance. The big stuff is dictated by the seller. Whatever he accepts.

@shanemccormick3483 5 лет назад

Wow! The burden of being filthy rich...... breaks my heart

@GARYFERNANDEZ 5 лет назад

I downloaded the link and just started using the service. Thank you for making this service available.

@ClellBiggs 5 лет назад

Last time I bought a car I wanted to make a $10,000 down payment but they wanted it to be $9,500 instead. I figured the $10,000 rule was the reason and didn't push it.

@pgoeds7420 5 лет назад

All 4 cars I've bought come to about that.

@crazeguy26 5 лет назад

The 2 cars i'll owned came to 1050.@@pgoeds7420

@henrymarckisotto9025 5 лет назад

The US is 20k I believe

@Tigerscar12 5 лет назад

@Frank Roquemore watch the video

@naturegirl2110 5 лет назад

@Frank Roquemore Some checking accounts have a daily spending limit regardless amount in you account. That spending limit is usually $10k anything over that is refused by most places because of instances as fraud and money laundering.

@stentor1980 5 лет назад

I think there are a couple of other points worth mentioning when it comes to making large payments in cash. The first is that cash does take up physical space, and above certain amounts it's simply difficult to carry that much money. The estimate I saw was that an average briefcase can hold about 2.4 million in $100 bills, or 6.35 million in euros. This is further complicated by the fact that banks and merchants will typically want to hire security and counters when dealing with such large amounts. Secondly, banks are under no obligation to accept any particular deposit and they will generally refuse if they're suspicious of its provenance. So while George Clooney's friends may have felt touched in the moment when he presented them with briefcases full of millions of dollars, they may also have wished he had written a check while they were trying to explain where it came from to their bankers the next day.

@peterkoller3761 4 года назад

write a check?! who in their clear mind has ever written a check after about 1960/65 when bank accounts for everybody and money transfer came along? Iam over 50, and apart from the time I worked in Ireland, I have never seen, let alone written a check in my whole life!

@ryanvellutini7012 3 года назад

@@peterkoller3761 dude i am french and there using check is normal

@jdrancho1864 3 года назад

@@peterkoller3761 dude, up until I started paying my bills online, I wrote about a dozen and a half checks a month, mostly utilities, house payment and credit cards.

@peterkoller3761 3 года назад

@@jdrancho1864 I don´t know anyone in my country here in central Europe who has seen or written a check in the past 40 or so years: before online banking came along, it has been and still largely is direct money transfer from account to account (in particular regular payments like rent, car payments etc) or cash payment.

@becademarques 5 лет назад

I can only imagine George Clooney's friends going to the bank and having to explain how they got a million dollars out of nowhere.

@GeorgeVCohea-dw7ou 4 года назад

It's not the bank's business, and if the IRS had, likely, gotten involved, they could verify exactly where it came from and why. I'm sure George was thorough in that and probably discussed it with his tax attorney before doing anything. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Vn9BeN8NBaA.html

@deltavega9203 3 года назад

@@GeorgeVCohea-dw7ou The bank needs to be aware that the $1mm was not gained from illicit activity (drugs, terrorism, other black-market activities) so they'd still need to verify the source of funds. They could hold the deposit and not disburse funds if they suspect illegal activity. I trust Clooney had a "gift letter" and a contact number the bank could reach out to verify the source of funds but the bank has a right to investigate so that illegally procured money does not enter their bank.

@GeorgeVCohea-dw7ou 3 года назад

@@deltavega9203 It would have been awkward for any of those people to have been victims of civil asset forfeiture. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zRakAuHQguo.html “But I got this cash from George Clooney!” ... “Sure, you did (rolls eyes).”

@t185bear 3 года назад

Clooney also took care of the taxes.

@endoetz 5 лет назад

marry a wealthy man divorce get lots of money repeat

@IDontKnow-mf5wi 5 лет назад

And that's the reason for a prenup lol

@DonLee1980 5 лет назад

Men: work hard to earn a fortune. Women: work hard to find a rich man. Also women: on avg women make less money than men. Me: yeah, obviously.

@LiftOffLife 5 лет назад

Divorce rape of men is a crime in itself.

@ieatgremlins 4 года назад

Y’all sad

@lukeshaul820 3 года назад

A small group of wealthy people are in fact supported and financed by entire countries. These men and women effectively have the GDP and wealth of an entire country at their disposal.

@funny-video-YouTube-channel 5 лет назад

Do they still pay 3% on the transfer ? Or something like 1%, which would be 10k USD , if they buy something for 1 Mill USD. *Payment providers milk everybody :-O*

@benterry2681 5 лет назад

epSos.de you pay for transactions in the USA? In Europe it’s all free, I imagine the perk of a billionaire account is not to get charged or theirs an upper limit.

@CoveringFish 5 лет назад

Ben Terry U.S.A is fucked everyone whines about how you pay because you can pay 10 ways but 11 of them cost money to pay with money

@shawnfreeman3932 5 лет назад

Why not just have Bitcoin and cut out the middleman and transaction fees

@nicklinik4454 5 лет назад

Shawn Freeman Lol

@Drunkledore 5 лет назад

@@shawnfreeman3932 fuck you and fuck crypto currency

@Bigfoot_With_Internet_Access 5 лет назад

"How Do the Insanely Wealthy Actually Pay for Something Worth Hundreds of Millions of Dollars?" Ok, I'm not an expert or anything. But I'm just gonna guess they use hundreds of millions of dollars.

@uglyweirdo1389 5 лет назад

@Henrik Wallin Also government subsidies, pension funds, and good old fraud. Can't forget fraud.

@canag0d 5 лет назад

Ugly Weirdo It’s a joke u nerd get a life.

@uglyweirdo1389 5 лет назад

@@canag0d Oh dont worry. I am a living human nerd. Edit: Your concern for my wellbeing is greatly appreciated. You are a gentleman and a scholar.

@killman369547 5 лет назад

i think they mean the process of getting that amount of money from buyer to seller with a 100% guarantee that said seller gets the money.

@lilllwizzzle 5 лет назад

I'm assuming a wire transfer? Seems obvious idk.

@DniAngel3982 5 лет назад

'us peons' ... thats the best compliment I've extracted from a random sentence thus year. thx mr whistler.. for lumping your success w my shame.

@KelticTim 3 года назад

In South Carolina, roughly 20yrs ago, I was almost arrested for carrying more than 20k cash on my person. The only thing that saved me was the cops allowed me to hand the friend I was with a stack, putting me under the threshold. Not sure if that law still stands, they told me it was a way to stop drug dealers and other assorted criminals.

@crazyoncoffee 2 года назад

3:20 Those benefits don’t just come for free. The card has an annual fee of $5,000 and it costs $10,000 to sign up

@exactinmidget92 5 лет назад

Pretty sure AmEx just went down the street for the dead sea sand.

@gendoruwo6322 5 лет назад

true sand connoseurs can tell. Don't mess this up, or they'll call "IT'S FCCKIN RAW!!" on you.

@NFH1994 5 лет назад

Honestly that task didn’t even seem that hard to me

@laurenbee6340 5 лет назад

Would you consider doing a video on what happens to our waste or recycling? I am very into the environment and was just curious if there was something you can tie related to that with your informative videos?

@MatthewStinar 5 лет назад

I'd be curious to know the numbers on pollution emitted by shipping recyclable goods and the subsequent recycling process.

@laurenbee6340 5 лет назад

Matthew Stinar good point as well. I am trying to reduce my personal waste and do my part but, it is hard because companies are not forced to use sustainable packaging, and recycling is a joke here in NYC at least. With your question I think that is something we should learn about since that pollution may be adding to the climate issue, even though it may be less than same day shipping and other transported goods.

@Gothead420 5 лет назад

Fun fact: Strangely, burning waste/trash counts as a renewable energy source in Europe...

@jakek584265 5 лет назад

@@MatthewStinar just think of the hundreds of extra miles these garbage trucks drive to pickup recycling. I heard something about one city, I'm think it was LA buying a couple hundred new garbage trucks to pick up recycling. Plus believe it or not, most recycling happens overseas. Places like China used to buy garbage by the ton.

@malcolmhardwick4258 5 лет назад

Jake k not now for a while. The shit must be piling up somewhere 😕

@jamielancaster01 5 лет назад

I’m a realtor and 15 yrs ago I cashed a $18,000 commission check at the bank with no problem - but two years ago I tried to withdraw $5000 in cash out of that same bank and they didn’t have the cash on hand to do it.

@qtheplatypus 5 лет назад

Mason Valenzuela two possibles the armored car with the money had not arrived yet or the vault is on a timer.

@pluto8404 5 лет назад

So you gave them a cheque, and they didnt have cash? What are you on about. Should they write you a cheque for your cheque? Most money isnt in cash. Shocking.

@ComradeTomatoTurtle 5 лет назад

Ofc they didn't do it, what kind of bank has 5000 pennies on demand?

@oxyrisin 5 лет назад

Wow? only 5G’s ? Was it some small, backwoods town type bank?

@errolm8313 5 лет назад

Banks use deposits to fund their investments. Depending on what the said bank has available in the vault, including what they have available to do that days transactions, banks will "order" money from other banks, which is a loan that they pay back

@alexandria8743 4 года назад

literally thank you sir for solving all my high thoughts

@jester886 5 лет назад

I’m not rich so people don’t care what I do but if I’m ever rich and people start calling to see what I’m using my money for I’ll be mad. Mind your own business.

@kingjames4886 5 лет назад

george cloony is literally the only example I've ever heard of a rich person repaying their appreciation like that.

@alexandercanella4479 5 лет назад

There's a lot more than him. George Lucas puts Clooney to shame when it comes to percentage of wealth given away.

@BraindeadCRY 5 лет назад

Most such cases probably never make the press since its a private and personal matter between friends. And to be fair, at least I personally would not advertise it much when a rich friend of mine hands over a small fortune to me :D theres bound to be a shitstorm that kicks loose and it's easier to just not mention it outside of your circle of close personal friends and family. Gotta give it to him though. A coffer full of cash has a certain style to it. Far more fun than a bank transfer

@OtakuUnitedStudio 5 лет назад

JK Rowling gave away millions of her money because she didn't really know what to do with it.

@disrespectthemwomensubjuga5471 5 лет назад

@Davvy Jannes where do you live?

@basmca1 5 лет назад

Bill Gates has donated litterly billions.

@artistwithouttalent 5 лет назад

Simon that is criminal. WHAT DO YOU KNOW ABOUT NICHOLAS CAGE?

@ViviSectia 5 лет назад

He spent all of his money on a single string of purchases which included everything from 15 separate multi-million dollar homes, mansion, two castles, two islands, a 9 foot tall pyramid tombstone, a haunted house, the first superman comic, a really expensive octopus, albino king cobras, crocodiles, sharks, four yahts, a private jet, the shah of Iran's Lamborghini, and a stolen dinosaur skull. He also owes the IRS millions which is why he had to accept almost every role that was offered to him because he desperately needed money.

@paultoomey8537 5 лет назад

How do volunteer fire departments work in the US? I always lived in a town with professional firefighters. My grandmother lived in a suburb with volunteers. As the suburbs are heavy on commuters, I do not know how that can work. Do volunteers get a break on taxes or some other perk? There must he a lot of training and retraining involved.

@theanachronisticlife8574 5 лет назад

Paul Toomey in my area of rural PA it’s all volunteer fire dept’s. They apply and complete a training course (110 hrs), no pay exactly but reimbursed a little, tax free, for time on calls and training.

@Gamefreak8112 5 лет назад

Whats this got to do with the video?

@gerRule 5 лет назад

I though he was going to see my grandmother was a firefighter

@ZedF86 5 лет назад

Here, they aren't live in or full time. Basically, they always have a radio on them and are on call. Paid pretty well if they show up too. Something like 26+ an hour depending on training, and paid for showing up. I'm sure there is more to it, but I'd have to ask my buddy for any more info.

@stanleyzabecki7821 3 года назад

What Mr. Clooney did almost made me cry. To be able to give such a gift, even a fraction of that, to the people who truly helped me go from an a**hole jerk to where I am now would be so awesome. Thank You Simon for including that in this video. Made my day and then some. 💖

@dereklawr 5 лет назад

Thanks for the recommendation for Retail Me Not. It will be very helpful to save a few bucks as I purchase my $94M yacht on Amazon!

@kaldo_kaldo 3 года назад

I hope you got that $5 off

@BudgetBeautyBabe 5 лет назад

I worked at a check cashing place. The largest check I ever handled was a little over $100,000.

@Bacopa68 5 лет назад

Did you have that much on hand? Or if you did, would cashing such a check prevent you from serving other customers?

@787brx8 5 лет назад

Handled papers worth billions and their worth is continuing to accumulate at rate of A few billion each year. Good thing I don't have that job anymore too much stress.

@MrJosephdrummond 5 лет назад

i went to bank of america with a $4000 check and they didn't have enough cash on hand that day, "sorry, try again on friday" then i went to walmart with a $50 bill and they wouldn't accept it bc it wouldn't scan in the automatic teller machine- had to call the cops. then i tried to pay for gas with a roll of quarters and they said they don't accept coins, had to call the cops again. tried to pay a doctor bill, "we're not set up to accept cash- we'll bill you, ok?" had to pay a fine at the courthouse- they sent me to the gas station to buy a money order! "legal tender" my ass! cash is quickly becoming the least accepted form of payment in the world

@LordDragon1965 5 лет назад

The B of A branch must have been a small one or you were not a depositor. If you had ASKED (nicely) to speak to a manager, it would likely have happened. I call full shenanigans on the Walmart story UNLESS the bill had been tampered with. A friend of mine had the bad habit of pulling the security strip out of high value bills to collect. He has strips from about $5000 in bills. Hopefully, the bills he swiped them from were recycled a long time ago.

@Jimjolnir 5 лет назад

@@LordDragon1965 what the hell??? lol. Why?

@jeep146 5 лет назад

@@Jimjolnir Why? Because he is a idiot. Such a bright person should know it's illegal. I don't accept large bill for this reason, people rightly could assume it is counterfeit. ***This is what he would use them for to try to pass fake money***

@jonathanjones770 5 лет назад

You sound like a bitch

@TheNohar123 5 лет назад

The George Clooney is so touching. Now i know why i love that guy. He is so cool for doing something like that.

@1pcfred 5 лет назад

Yeah but Clooney starred in Tomorrowland too.

@cyberhawk80 5 лет назад

the bitch is crying europe/usa should take "refugees".. fuck clooney

@willberman1562 4 года назад

Paul Frederick we all make mistakes

@juliankurwan7357 5 лет назад

Added RetailMeNot Genie, and have to say it acctually worked and is awesome!!

@lisamiles1157 5 лет назад

This guys voice I could listen to for hours he has such a nice voice it reminds me of Tom Hiddleston xx

@MrEdrftgyuji 5 лет назад

So, the most expensive thing that rich people have to pay for is divorce. Good thing I'm never getting married.

@Skyline_NTR 5 лет назад

this is why prenups exist

@CAHSR2020 5 лет назад

@@Skyline_NTR Prenups aren't the silver bullet many people seem to think they are. If you can convince the court that the prenup didn't represent both parties adequately and/or wasn't explained properly and/or wasn't vetted by an independent lawyer it can be invalidated at divorce.

@Skyline_NTR 5 лет назад

maybe, maybe not. but its better than no prenup. and IANAL but this is probably the kind of thing that can be dragged out in court for a long time

@elissitdesign 5 лет назад

TheLaughingMan0603 not in California.

@fumanchu7 5 лет назад

Marriage, not even once.

@CarbonFiberSpoon 5 лет назад

Video starts at 1:00

@foeof 5 лет назад

da real MVP

@deiosp13 5 лет назад

Dude... Just let them have a one minute sponsor.

@7-ten 5 лет назад

Thank you much!

@7-ten 5 лет назад

@@deiosp13 they still have their 1-minute sponsor that doesn't mean we have to watch it

@chrisneale2036 5 лет назад

Today I found out I've been mispronouncing Sothebys my entire life.

@jcarry5214 5 лет назад

you better not watch his video about bidets, it's horrifying.

@seiyuokamihimura5082 5 лет назад

How exactly were you pronouncing it before? I've only ever heard it the one way.

@SunflowerSpotlight 5 лет назад

j carry Lol, or a drinking game!

@jcarry5214 5 лет назад

@@SunflowerSpotlight lordy, that's an idea.

@SnoodDogg 5 лет назад

His pronunciation wasn't quite right either. It's pronounced SUH-the-bees, with a hard th.

@cobalt1754 5 лет назад

$10,000 in 1970 would be $65,000 today??? Inflation has more than pentupled in almost 50 years? It must be nice to be super wealthy. Meanwhile, the cost of living is so high where I live, I might as well just die.

@iteate 5 лет назад

press f to doubt

@jdrancho1864 5 лет назад

Just think about what you paid for gas in 1970 ...

@MacKeyser 3 года назад

In the US, while the limit where a transaction HAS to be reported is $10k, they can and often do report transactions as low as $3k. As well, lots of transactions in the $7-9k range are a huge red flag.

@skywalkersounds7020 5 лет назад

Blockbuster card?

@tristissimvshominvm8999 5 лет назад

Simon, what really happens if you put two private detectives to investigate each other?

@Abdega 5 лет назад

Can a Centurion Concierge help with businesses that don’t accept American Express?

@Finkenstein 5 лет назад

No, but that's why we have the black Mastercard with concierge and all access to VIP rooms, tickets and stuff that American Express usually can't, it's just silly to rely on single services no matter how good they are... Why having a sinlge benefit when you can have twice the benefit for the same price?

@BrilliantDesignOnline 5 лет назад

The music barely audible in the background is annoying. There must have been a HUGE amount of research to produce this. Thank you. Well delivered and VERY interesting.

@Zevonfan524 5 лет назад

The things I would have that assistant track down... “Hey, ya know what would be awesome? “ *assistant sighs & throws back a shot of tequila*

@phillenan2494 5 лет назад

Everyone talks about the black card, but most rich people have an unlimited gold card to not look suspicious but to have all the perks needed like flight and hotel upgrades :P

@phillenan2494 5 лет назад

@gilbert martinez It has not much to do with how much money someone has, but more about how old the family money is. Since its a cultural thing, but you are right, the wannabes and the new rich people have the tendency to go for such black cards, cause they got no class. :D

@Finkenstein 5 лет назад

Funny statement, but you're right... I don't use AmEx, but I do have a black Mastercard and a gold mastercard in my wallet, black is the big one obviously but the one shows up mostly is the gold one, ha! Neither card is unlimited or anything, but they both generate same reward points for the same spending quantity and stuff, but I do need to show the black at airport VIP lounges and services like that if I want certain perks.

@silverhawk7324 5 лет назад

I really wish Fight Club would happen.

@ytnoname1189 5 лет назад

Billionaires are gods, we are mere mortals - today i found out

@thomshere 5 лет назад

Thanks for this and all the great videos on your channel! By the way, you should be hired as a voice over artist as you have a great voice as well!

@JLenny 5 лет назад

Sotheby's is "Suth-a-bees". Everything else is perfect :D

@robertt9342 5 лет назад

What are the yearly fees like on the black card? Performing tasks for free, who is paying for that? I guess we know why our credit card rates are so high.

@London_miss234 5 лет назад

Possibly five hundred a year, one time fee.

@ShadowFox10587O 5 лет назад

Robert T I don't remember exactly what they were but they have a really high one time buy in fee plus a rather high annual fee of course these fees are high to us but if you're rich enough to get an invite it's probably pocket change

@92Karoola 5 лет назад

www.canstar.com.au/credit-cards/centurion-card/

@92Karoola 5 лет назад

In the US: "Initiation fee of $5000 and then $2500 p/a with minimum spend of $250k/year

@MatthewStinar 5 лет назад

I'm not sure what the interchange fees on the Centurion Card are, but Visa business cards can run as high as 2.95% and and Amex is known to run as high as 3.5% in some instances. In other words, $30K out of a million dollar purchase might go to Amex instead of into the merchant's bank account.

@2ndGenBen 5 лет назад

The IRS has a big warning on their website that they never call people so. The accountant of that millionaire the paid in cash would get a strongly worded letter instead.

@malinagillooly5981 5 лет назад

I downloaded RetailMeNot Genie and will be trying tonight! Thanks! 😊

@Dervraka 4 года назад

Short answer is they don't...they have people to take care of all those little details for them. Back in my college days I worked as a tour guide on Martha's Vineyard and made friends with one of the locals who was the son of one of the old money billionaire families. I ended up spending some time at their estate and getting to know them. Basically if they wanted a new sports car, or piece of art, or house in France or whatever. They simply turned toward their staff and said, I want a new Porsche 911 with these features, make it happen. Then the personal assistant takes care of the purchase, all the paperwork and has the car delivered.

@faythward2943 3 года назад

Just FYI the Centurion card is a charge card (must be paid in full) not a Credit Card (can carry a balance)

@4444egor 5 лет назад

Downloaded! I was wondering, what differentiates RetailMeNot Genie compared to something like Honey?

@senpai-sama-6675 5 лет назад

I only pay in *V-Bucks*

@HorkPorkler 5 лет назад

What syndicate are you affiliated with Jc Denton? U fucks are everywhere

@FreeSalesTips 5 лет назад

@@HorkPorkler Oh yeah yeah

@waterandafter 5 лет назад

@@HorkPorkler Money is only worth what we agree it's worth.

@d4mdcykey 5 лет назад

Whoa, now I like George Clooney even better. I seem to recall reading somewhere that after illicit drugs the 2nd most common place to launder money has been from high-end auction houses and art dealers.

@RetroPlasticAddic085 5 лет назад

D4md Cykey casinos too 😉

@NarwahlGaming 5 лет назад

Step 1) Buy mystery crate at auction for cheap. Step 2) "Discover" rare or expensive item in crate. Step 3) "Sell" item for amount being laundered. Step 4) [in this generation] Post selfies to social media while doing said laundering.

@shawnshurtz9147 5 лет назад

I'm confused the purpose of laundering money is to take the money you got from selling the illegal drugs or illegal what ever and make it look like you got it legally through a legitimate business. Casinos are great for smaller amounts of money go in buy a few thousand dollars in chips play awhile take the chips then cash out. It looks like gambling winnings. Or so I've heard. That would be impossible with large amounts of money though. Casino would definitely have their eyes on you because it would look like your taking them for millions of dollars.

@ahettinger525 5 лет назад

@@shawnshurtz9147 You misunderstand. The customers of the casino aren't the ones doing the laundering....

@travisrocks21 5 лет назад

Downloaded. Thank you

@EricTrang 5 лет назад

It rumored that in the early '80s Saudi Arabia purchased 21 Dongfeng 5 missiles from China (without nuclear warheads, of course) with 2.1 billion dollars, and they paid cash. They used several civilian ships escorted by F16 fighters to ship those cash to China.

@kalemercer7053 5 лет назад

FYI: As of 9-11 Banks are required to now report transactions of $5,000.

@robertt9342 5 лет назад

It is still $10,000 to the IRS, the SAR is a different regulation and triggered at an aggregate of $5000 when Banks have a reason to suspect something illegal or that it's something that seems out of the ordinary for the customer. There is a pile of more caveats with that too. Feel free to correct this as I am not fully up to speed on the issue.

@thomasknight604 5 лет назад

@@robertt9342 SARs only occur at the $5,000 level if it throws a money laundering flag related to the Bank Secrecy Act. There is another $5,000 cutoff if there is believed to be illegal activity and the subject can be identified, but that gets bumped to $25,000 if the subject cannot be. There are other FINCEN reports for $10,000 cash or cash equivalent transactions, FBAR reports for foreign accounts, and IRS reporting for certain non-electric transactions over $10,000. Kale Mercer is not quite correct. The $5,000 is not necessary just for withdrawing or depositing $5,000, and if they did report it you would never know as disclosing a SAR is illegal. The reporting cutoff for depositing or withdrawing being reported is $10,000. They may be referencing a bank-specific policy of informing a manager to ensure the transaction is not suspicious or structured.

@kkfoto 5 лет назад

It still is $10,000. I know from personal experience.

@aycc-nbh7289 5 лет назад

But what if they do it in $5,000 increments?

@kkfoto 5 лет назад

@ aycc-nbh72 If you do it in several increments in the same day in the same bank, it will be reported. It also applies when an individual receives several deposits totaling $10,000 or more over the course of 12 months from the same payer. Also, banks might report any transactions they consider suspicious, regardless of the amount.

@AcidDaBomb 5 лет назад

I sell cars, I once had someone from a family worth about $750 million buy a vehicle from me. He came in, looked at the car (it was a Challenger SRT8) said he wanted it, gave me a card and said "Contact my family office for payment" I did. They paid for the car.

@zappawoman5183 5 лет назад

Did you let him drive away in the car before receiving payment?

@vincentproductions8963 5 лет назад

@@zappawoman5183 Same Question haha.

@originalbluebuddha 5 лет назад

I just pay with a Discount Club card like John Candy in Planes, Trains, and Automobiles. Sometimes I throw in a Casio watch to seal the deal.

@jamesleaty7308 3 года назад

Does anyone have a department store card still. I had all of them.

@foxhound2531 5 лет назад

There should be a content you should release of what the credit cards have done for thier customers liking.

@samcasey2067 4 года назад

I once stood behind Anglina Jolie in the neighborhood grocery store in the Hollywood Hills watching her hand the clerk a large wad of cash and say "I don't know how this works". Clearly the assistant should never have a sick day.

@kingjames4886 5 лет назад

with their credit line? there are about 2 people in the world that actually have that much physical wealth and they're saving it for when the economy fails.

@Amadeus8484 5 лет назад

When the economy falls their wealth will be worth a whole lot less...

@alalalala57 5 лет назад

@@Amadeus8484 Proof it so it will worth a lot more.

@Amadeus8484 5 лет назад

@@alalalala57 Money's value is relative. Money isn't worth anything if there is nothing to spend it on. The actual intrinsic value of money is based on the circulation of money throughout the economy, as well as supply, demand, debt, income, cash reserves, etc.

@kingjames4886 5 лет назад

physical wealth not in the form of credit or local currency is the only thing that will have value when the economy fails...

@Amadeus8484 5 лет назад

@@kingjames4886 Gold and gems, those are things that are just shiny and people will just take when economic crashes hit. Things like fuel, water, food, ammunition, medicine. THOSE will be worth their weight in gold (before the crash anyway)

@DangerClose13E 5 лет назад

I can only speak for myself but I just love the sound of that word....."C-A-S-H"

@Angel_Billy4-30-23 5 лет назад

Wow, this is such a great question and definitely something that I've never thought about before. Thanks for answering this. I love watching your videos cuz I always learn something new from your videos. They are not only very entertaining but extremely informative as well, so thank you for this.

@dcengland 5 лет назад

I have worked in US banking for a while and I shock customers all the time when they try to buy a car or a boat or whatever with cash and I tell them no. Most banks outside of major financial centers only have enough cash to process their normal day to day transactions plus a little extra. People get mad too when you start filling out the CTR for that large cash transaction. The public seems clueless on what banks do.

@dcengland 5 лет назад

Also if you try and avoid that CTR by depositing or withdrawing under $10k in cash enough times, the bank will catch on and close your account. I had to close a large account because the customer didn’t want to have a CTR filled out about them. I’ve also threatened to close several others mostly businesses that I knew were spreading their cash deposits out.

@pupasarus 4 года назад

I used to work at Tourneu in the cash office. The majority of our customers paid with the black card. It was the norm. I think i had to file a cash irs report about once every 3 months.

@quinadams8088 5 лет назад

Dude I really thought this was vsauces second channel

@LordPrometheous 5 лет назад

I clicked on this video thinking this was Vsauce.

@nobody59909 5 лет назад

But this is VsiualPolitik second channel

@tynis 5 лет назад

Michael here

@aarontkachuk 4 года назад

It is vsauce.

@ckm-mkc 5 лет назад

I remember reading a story (with a photo) of someone taking cash out of an ATM and looking at the receipt left by a previous person. The balance was $180 million dollars on the account....

@ComradeTomatoTurtle 5 лет назад

Its sad really, how far off most of us are. I been to a house worth more than that to install directv, guy is richer than Trump and his security guards threaten they'll taze me if I took pictures of my work, thus his house. XD

@WaddickLawnCare 5 лет назад

I Tuurtley don't even care lmfao such lies!

@DerpEye 5 лет назад

Many places, outside of the US don't actually accept the American express cards, because the fees are too expensive.

@BonaparteBardithion 5 лет назад

Half the places in the US don't. Nearly every store stops at Visa and MasterCard. Discover is even more uncommon.

@BonaparteBardithion 5 лет назад

@@jbird4478 Most people I know use Debit-Credit. We only run credit when we don't want it taken out right away (which is rare) or when the store doesn't accept debit. It's checks that are going extinct on account of debit replacing them. I've never met anyone that pays exclusively by credit. Paying exclusively by cash is much more common.

@r.a.d.h.4260 5 лет назад

Downloaded it, thanks :)

@dman19893 5 лет назад

i added the retailmenot extension :) keep up the good work

@mcbrite 5 лет назад

As a bank apprentice I once held a brick of 1 Million Euro in 500 notes! Why? - Because I asked and the cashier said that I could... ^^

@mcbrite 5 лет назад

@John Smith Settle down, Neo...

@DCfred 5 лет назад

The very rich are also notoriously bad in paying their bills. My first job after college was working for Amex!

@stantheman3480 5 лет назад

DCfred spill the tea ☕️

@watchthe1369 5 лет назад

The insanely wealthy shop just like everyone else shops for a house. The scaling works out that the hundreds of millions are like buying a house. The super rich do not have that much cash available compared to their total worth. They only have a couple million or hundred thousand in liquid cash. They use the card so that as a guarantor of payment, the customer service department of the bank arranges the necessary securities and property transfer to move the cash and pay for what is wanted. Paying cash is problematic when you are talking amounts that require forklifts and pallets... Most bank branches probably have an amount available depending on their depositors.