A friend who started reading FluTrackers asked last week what the "phases" meant. There's been some reference to Phase 2.
I told her that I thought there were three phases of pandemic that had been discussed and there would be different needs in the different phases (correct me if I mis-remember):
Phase 1: The beginning (where we are now)
Phase 2: The pandemic itself
Phase 3 : Recovery
I told her that having cash would be useful in the middle phase and during the recovery phase. Since the chances for raising cash in the middle of a pandemic will undoubtedly be reduced, it therefore makes sense to have cash now.
What's interesting is that the next day we were working on a large community rummage sale and auction. We needed substantial cash in small bills. Several thousands -- in wads of $1s, $5s and $10s -- more than she or I routinely handle. Like everyone, we use plastic. Anyway, we decided to make it a little experiment. We went to her bank. I did the transaction. The management didn't know me. I decided to offer very little info. I wanted to understand the process and see what they'd ask, if anything. I was pleasant but did minimal sharing of information.
I was surprised that it turned out to be such a big deal. The manager was called in. She said they needed a few hours to get it together and warned me they'd need to do it in private (no one behind me in line) for security sake, she said. I hadn't known that if you get more than $5,000 in cash at one time (I think it was that much), you have to fill out a form, they fingerprint you, the bank has to report it to the govt which may put you on a watch list. Guess it's terrorism related. Wow, I was surprised. Anyway I went back to the bank around closing and they counted out the cash with their machine and it was done.
In the case of pandemic, there could be some major anxiety among the public if they run on the bank for cash and have to face that cumbersome process.
At the end of my transaction, I told the manager the cash was for a huge rummage sale/auction. I then asked what they were planning to do if people wanted cash at the beginning of a bird flu pandemic. She looked a bit startled and said she didn't know. I suggested she find out what the bank's pandemic plan suggested as standard operating procedure. I know this particular bank has worked on a pandemic plan. Guess the SOP hasn't filtered down yet.
All together, it was an instructive exercise. My friend "got it" that pandemic would probably mean no business as usual. She's prepping now.
[The fundraiser went off without a hitch.]
I told her that I thought there were three phases of pandemic that had been discussed and there would be different needs in the different phases (correct me if I mis-remember):
Phase 1: The beginning (where we are now)
Phase 2: The pandemic itself
Phase 3 : Recovery
I told her that having cash would be useful in the middle phase and during the recovery phase. Since the chances for raising cash in the middle of a pandemic will undoubtedly be reduced, it therefore makes sense to have cash now.
What's interesting is that the next day we were working on a large community rummage sale and auction. We needed substantial cash in small bills. Several thousands -- in wads of $1s, $5s and $10s -- more than she or I routinely handle. Like everyone, we use plastic. Anyway, we decided to make it a little experiment. We went to her bank. I did the transaction. The management didn't know me. I decided to offer very little info. I wanted to understand the process and see what they'd ask, if anything. I was pleasant but did minimal sharing of information.
I was surprised that it turned out to be such a big deal. The manager was called in. She said they needed a few hours to get it together and warned me they'd need to do it in private (no one behind me in line) for security sake, she said. I hadn't known that if you get more than $5,000 in cash at one time (I think it was that much), you have to fill out a form, they fingerprint you, the bank has to report it to the govt which may put you on a watch list. Guess it's terrorism related. Wow, I was surprised. Anyway I went back to the bank around closing and they counted out the cash with their machine and it was done.
In the case of pandemic, there could be some major anxiety among the public if they run on the bank for cash and have to face that cumbersome process.
At the end of my transaction, I told the manager the cash was for a huge rummage sale/auction. I then asked what they were planning to do if people wanted cash at the beginning of a bird flu pandemic. She looked a bit startled and said she didn't know. I suggested she find out what the bank's pandemic plan suggested as standard operating procedure. I know this particular bank has worked on a pandemic plan. Guess the SOP hasn't filtered down yet.
All together, it was an instructive exercise. My friend "got it" that pandemic would probably mean no business as usual. She's prepping now.
[The fundraiser went off without a hitch.]
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