Revealed: Day the banks were just three hours from collapse

Revealed: Day the banks were just three hours from collapse

www.dailymail.co.uk

Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed.

City Minister Paul Myners disclosed that on Friday, October 10, the country was 'very close' to a complete banking collapse after 'major depositors' attempted to withdraw their money en masse.

(visit the link for the full news article)


Related News Links:
www.bloomberg.com

The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.

It almost all came crashing down on October 10th and no one outside of the privileged few knew about it. Not only that, but Lord Myners is being blasted for telling the truth "while the recession [is] still deepening and major institutions such as Barclays remain under intense pressure." No problem, just keep on lying to the British public, ol' chaps. They can't handle the truth, obviously.

Here's the thing.
If the UK goes, other major countries including the US will go too. Likewise, if the US goes, it sets of the same domino effect. Our financial systems, our economies, are so intertwined that a banking collapse isn't contained to one country. We're seeing that now as nearly the entire world falls further into recession.
Many people believe the US is in worse shape than the UK. If that's the case, what does this bit of news tell America about the state of its banking system?

The GBP is struggling in the forex market tonight, falling more than 1% against the US$ and the Japanese ¥ before leveling off some.

www.dailymail.co.uk
(visit the link for the full news article)

HAH! I remember how much scold I got for posting this thread in the exact same month of October....

www.abovetopsecret.com...

I had a feeling there was indeed some truth to it.

reply to post by solarstorm


The timing is there. If the UK banks had gone down, the US banks would have as well, no question.

On another forum I frequent, people say "What used to be (conspiracy-type news) is now breaking news." It's true. There's a lot of scorn and derision lobbed towards rumors like your above post, and they turn out to be based in truth - or all out true! - as this mess progresses.

Unfortunately Hal Turner was involved with the news you posted, which is generally a source to ignore. It seems there was more behind it in this case - though I still take anything that man posts with a HUGE grain of salt!

Originally posted by anachryon
reply to post by solarstorm

 

Unfortunately Hal Turner was involved with the news you posted, which is generally a source to ignore. It seems there was more behind it in this case - though I still take anything that man posts with a HUGE grain of salt!

Yes very true about Hal Turner...I do pay more attention to him unlike some of the other booger flickers on this forum that just flame because of anything associated with Hal Turner. He could be dead on in some cases.