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The next step of this panic could become the mother of all bank runs, i.e. a run on the trillion dollar plus of the cross border short-term interbank liabilities of the US banking and financial system as foreign banks as starting to worry about the safety of their liquid exposures to US financial institutions; such a silent cross border bank run has already started as foreign banks are worried about the solvency of US banks and are starting to reduce their exposure. And if this run accelerates - as it may now - a total meltdown of the US financial system could occur. We are thus now in a generalized panic mode and back to the risk of a systemic meltdown of the entire financial system.
Originally posted by grimreaper797
reply to post by oconnection
History has shown the opposite to be true. Anyone that believes that people will do anything but hand over their rights to government, in exchange for their wellbeing, is foolish.
The most monsterous of leaders came into power when the people were weak with desperation and poverty. Central Governments take root when the people are too poor to survive on their own.
Should our economy, and then our country, fail as a result of this crisis, what will come out of the ashes will not be pretty. History has shown us that good only comes when we aspire to something higher, not when we cling to survival.
Originally posted by rufusdrak
Good I hope it happens. I live on a lake near a forested area, I've got plenty of fish to fry and enough small game to last me a few years. Bring on Depression 2 and let the bankers all jump in front of trains while I do my Daniel Boon impression for a few years.
Originally posted by oconnection
reply to post by rufusdrak
Yea most of us live the city my friend. I personally would love to take my family out of place but this is where my entire family lives, where I work, ect. Don't get me wrong, I have been stockpiling water, food, and ammo.
My friends to this day mostly think I'm crazy even in this day in age. But guess who will be knocking on my door if sh*t hits the fan.