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  • Jim Costa

Jim’s Rant For The Day. Only Two Straps.

Last week I withdrew $1,500 from my bank. I told the Teller “Big bills”. I received 12 hundreds and the rest as 50s and 20s. After she counted I said “Before we married, my wife collected baby dolls, now she collects “thousand straps”. Can I have one please?” (Betty straps the money before placing it in her safe.)

The Teller must have misunderstood me because she went to the drive-in window Teller and conversed, then came back and said “We are low on straps so I could only get you two.” I was stunned as much as I would be if I went into the Post Office and told they are out of stamps! Money paper straps is the stock in trade of Tellers. For them that is like a paper pusher being out of paper clips; it just doesn’t happen.

All paper cash going into, or out of, the bank vault must be strapped. Those straps are color coded so they go into the right inventory shelf. You get the picture. So my question is “why are they low on straps?” Is that Credit Union so broke that they can’t afford paper clips?

I wonder if they are about to issue new gold backed Dollars and redeem the replaced Federal Reserve Notes? If they did that then they would have to have new straps in different colors to denote both the money to continue to use and the old money to be taken out of circulation, right? They would stop using the current straps. Sounds crazy doesn’t it. But don’t forget that no new Federal Reserve Notes have been printed since 2017 so apparently they are to be phased out.

But there has to be a reason why the Tellers are told to operate without straps, just like telling a pilot to take off even though there is no fuel in the plane.

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