As with most predictions on this site, only time will tell. The idea and rumor of a bank holiday has grown since June, and we can thank a few
specific people and stories for the surge in the rumor.
#1. Harry Schultz, from the Harry Schultz Newsletter, and courtesy of marketwatch.com.
Marketwatch HSL Commentary from June
#2. The warning from the fellow above, which I do not find quite as credible.
I heavily researched this topic on Friday, and some of Saturday, and there IMHO there is a remote possibility of this coming true. There are two
different theories that I have read: The rolling bank closures, in the name of auditing or updating, or possibly a second phase of longer bank
holidays to come, all for a move towards the Nationalization of banks.
The reasons for this is the great possibility of a HUGE sell off/profit in the stock market, from the bull run in a bear market that has happened
since March. This predicts that it will create larger losses then we had in March.
RBS Uber-Bear Fresh Alert on
The prediction of a large number of continued bank closures topping 150-300 this year, in spite of the bailouts, will continue to lead to economic
panic and unrest.
150 Bank Closures
Not to mention the very real potential of the collapse of the dollar, or devaluing of the dollar, or whatever else you want to call it when our US
dollar is worth less, or WORTHLESS.
Which brings up the reported story of two Japanese men were found in Italy with 134 Billion in Bearer Bonds. 134 BILLION, but of course to calm fears
of Japan trying to secretly dump 134 billion US dollars, it is suggested they are forgeries, and some sources claim they have mob ties. Of course, it
Two Men found with 134 Billion
Lastly, the huge insider stock sales, which are either profit taking, preparing for the worst, or both. This to the tune of $53 sold for every $1
Huge Insider selloff.
What frustrates me most on this site is the lack of insight on how to prepare for this situation, other then BUY GOLD, BUY GUNS, BE PREPARED, GET
READY FOR MARSHAL LAW!
I do think something fishy is going down, and I asked a friend of mine on Saturday, who just returned from working as a trader in Amsterdam for two
years, and he said we have every right to fear a Bank Holiday, and HE AND HIS WIFE in fact, have 6 weeks of cash reserves at his house.
We spoke about a reasonable strategy to protect my financial capital in the short term, as he mentioned the bull cycle in a bear market again.
I am hedging my portfolio to the tune of 40% into other currencies and a Gold/Silver ETF, as it makes ZERO sense to me to store gold at my house.
Will I just chip a piece off for payment?
I am also going to keep a stash of cash somewhere when needed. Not in a survivalist sense, but in a common sense sense.
Anyways, I think these warnings should be considered, and as many of the articles I have read have said, they would SPRING this on us. There would
be no warning to us regular folk.
Sorry for the long post.