It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

EU Proposes Account Freezes To Halt Bank Runs

page: 1
11

log in

join
share:

posted on Jul, 30 2017 @ 09:45 PM
link   
It's starting.

European Union members are getting people all buttered-up for bank account seizures !!

The claim is that some banks and lenders are in trouble and will suffer hard if a "Bank Run" happens.

Well hardy har har.

IT’S YOUR MONEY BUT YOU CAN’T HAVE IT: EU PROPOSES ACCOUNT FREEZES TO HALT BANK RUNS

European Union states are considering measures which would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs, an EU document reviewed by Reuters revealed.
The move is aimed at helping rescue lenders that are deemed failing or likely to fail, but critics say it could hit confidence and might even hasten withdrawals at the first rumors of a bank being in trouble.

The proposal, which has been in the works since the beginning of this year, comes less than two months after a run on deposits at Banco Popular contributed to the collapse of the Spanish lender

Giving supervisors the power to temporarily block bank accounts at ailing lenders is “a feasible option,” a paper prepared by the Estonian presidency of the EU said, acknowledging that member states were divided on the issue.




!| Fail Imminent |!





posted on Jul, 30 2017 @ 09:47 PM
link   
a reply to: xuenchen


Finland just voted in the Nationalist party last month. Wonder if this is punishment that the global elite are losing their authority?



posted on Jul, 30 2017 @ 10:02 PM
link   

originally posted by: xuenchen
It's starting.


♪ Grab that cash with both hands and make a stash ♪



posted on Jul, 30 2017 @ 11:01 PM
link   
well, if people start to think that they won`t be able to get their money out of the bank they will STOP putting money into the bank and how is that going to help rescue struggling banks?
by telling people that that can`t take their money out of your bank you are guaranteeing that your bank will fail because nobody will be putting money into your bank ever again.



posted on Jul, 30 2017 @ 11:07 PM
link   

originally posted by: Tardacus
well, if people start to think that they won`t be able to get their money out of the bank they will STOP putting money into the bank and how is that going to help rescue struggling banks?
by telling people that that can`t take their money out of your bank you are guaranteeing that your bank will fail because nobody will be putting money into your bank ever again.



Well, they are planning to eliminate cash. So, if you don't put your money into some bank, where is it going to go?



posted on Jul, 30 2017 @ 11:11 PM
link   

originally posted by: Tardacus
well, if people start to think that they won`t be able to get their money out of the bank they will STOP putting money into the bank and how is that going to help rescue struggling banks?
by telling people that that can`t take their money out of your bank you are guaranteeing that your bank will fail because nobody will be putting money into your bank ever again.






Cmon man how long have you been on this site, you should know by now how fractional reserve banking works.

The banks make money from lending, not from people leaving money in their accounts.



posted on Jul, 30 2017 @ 11:13 PM
link   
a reply to: Tardacus


A self-fulfilling death spiral. Oh my..



posted on Jul, 30 2017 @ 11:18 PM
link   
Maybe it's time to get our $$$ out of U.S. banks?
www.bloomberg.com...

Or is this another Anti-Trump tabloid masquerading as a serious financial paper?



posted on Jul, 30 2017 @ 11:21 PM
link   
When they did this in Greece people just demanded to be paid in cash after emptying their accounts so the EU couldn't steal their money.

This is just another sign of the closing days of the European Union, it's demise is more or less inevitable at the rate things are going.



posted on Jul, 30 2017 @ 11:27 PM
link   

originally posted by: AMPTAH

originally posted by: Tardacus
well, if people start to think that they won`t be able to get their money out of the bank they will STOP putting money into the bank and how is that going to help rescue struggling banks?
by telling people that that can`t take their money out of your bank you are guaranteeing that your bank will fail because nobody will be putting money into your bank ever again.



Well, they are planning to eliminate cash. So, if you don't put your money into some bank, where is it going to go?



Where else to put your money? Hmmmm. Well: there's always gold and silver.

Or spend all of your cash on this:




posted on Jul, 30 2017 @ 11:43 PM
link   
a reply to: hopenotfeariswhatweneed

but the people don`t care how the banks make money they only care about being able to get their money back from the bank and if bank tells them they won`t get their money back, nobody is going to put anymore money into that bank.



posted on Jul, 31 2017 @ 12:18 AM
link   
a reply to: hopenotfeariswhatweneed




The banks make money from lending, not from people leaving money in their accounts.


I would guess that if a bank put a freeze on my account to take money out of it, I would put a freeze on any payment of loans to said bank. Back to the drawing board.



posted on Jul, 31 2017 @ 02:10 AM
link   

originally posted by: Tardacus
a reply to: hopenotfeariswhatweneed

but the people don`t care how the banks make money they only care about being able to get their money back from the bank and if bank tells them they won`t get their money back, nobody is going to put anymore money into that bank.









Most employment requires you to have a bank account to get payed. Either way your screwed.



posted on Jul, 31 2017 @ 03:32 AM
link   
holding onto cash is foolish anyway. Look at what the Elite do as soon as they hit it big....they buy tons of stuff! Get your money tied up into as many resources as possible.....real things that can be USED......mineral mining.....farming....land....food storage.....arms and ammunition....medicine.....seeds...all the prepper stuff......


get on it!



posted on Jul, 31 2017 @ 03:34 AM
link   

originally posted by: tribal
holding onto cash is foolish anyway. Look at what the Elite do as soon as they hit it big....they buy tons of stuff! Get your money tied up into as many resources as possible.....real things that can be USED......mineral mining.....farming....land....food storage.....arms and ammunition....medicine.....seeds...all the prepper stuff......


get on it!





You heard the man, spend spend spend, don't look back, take that money and spend it...quick...go...spend...



posted on Jul, 31 2017 @ 05:46 AM
link   
I can sort of see the logic. Most bank runs when they happen are largely illogical irrational things, driven by herd behaviour and fear. If banks had a system to just close the doors, it might head off the herd behaviour that turns a rumour of bank failure into the reality of bank failure.

It's a hard pill to ask people to swallow though, that they might not be able to get their money when they want it.



posted on Jul, 31 2017 @ 07:36 AM
link   
It's not going to prevent bank runs. On the contrary, runs will start at the first whispers of trouble, due to everybody trying to get their money out before the government steps in and slams the doors shut. After the panic is over, assuming the bank didn't actually fail, they'll still be a slower "bank jog" as people assume the bank is doomed and will still want to get their money out of it.

Overall, I agree that the EU is doomed. I read somewhere that they just coined the term "Euro-sabbatical" as a politically-correct version of Grexit, Brexit, etc. (They're not leaving, they're just on sabbatical.) Which to me sounds like they're starting to resign themselves to the reality that countries are going to leave.

And, even if they ban cash, people will just start using another country's cash. Maybe US dollars, maybe Russian rubles, maybe British pounds. That's what they do in a plethora of Third World countries where the local currency is basically just fancy toilet paper. More US currency circulates outside the US than within it, for exactly this reason.
edit on 31-7-2017 by AndyFromMichigan because: (no reason given)



posted on Jul, 31 2017 @ 08:37 AM
link   

originally posted by: AndyFromMichigan

And, even if they ban cash, people will just start using another country's cash. Maybe US dollars, maybe Russian rubles, maybe British pounds.


Maybe Bitcoin.

The beauty of bitcoin is that you can print it out, and keep it in your safe, or under the mattress. And since no country controls bitcoin, they can't arrest you for holding cash, nor can they seize your bitcoin when you cross borders and don't declare it, since it's not any nations currency.

The Chinese use bitcoin a lot to get around China's currency restrictions.



posted on Jul, 31 2017 @ 11:16 AM
link   
What causes runs on banks is not the ordinary man in the street. He is the one blamed for it but it's heavy money men playing games. People like George Soros.
I think a lot of you aught to realize where the power of banks lie. Do not believe their BS. Banks earn all their money by using YOUR money to "gamble" with. Without your money they are nothing. The biggest con ever pulled on the working man was to have your wages paid straight into the bank. This ensures that 1. the can control your expenditure and 2. because they LIKE you in debt they have first dibs on your money.
I think the majority of the time the banks start their own runs by allowing their employees to take reckless gambles with your money creating huge short falls and the ensuing information getting out creating runs.



new topics

top topics



 
11

log in

join