It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Sharrow
reply to post by I_am_Spartacus
Actually yes, this can be part of it. If people are starting to withdraw their money at once, the bank will collapse as they'll don't have enough cash in reserve to pay out everyone. In my country this happened once, when someone want to send our national bank to bankrupt. The people heard a hoax the bank will go to bankrupt. The effect was they immediately started to withdraw all their savings from the bank. The result, the bank really gone to bankrupt, because they didn't have had enough cash for everyone.
So, if someone is intending to bankrupt the national banks, this is the way to do that as the bank never has enough cash to pay all the customers at once.
[edit on 14-10-2009 by Sharrow]
Originally posted by chiron613
Some time ago, a disk jockey pulled a prank on his audience. He informed them that there was an impending shortage of toilet paper. So many people ran out to stock up on toilet paper, that the shortage actually happened. It was a self-fulfilling prophecy.
If there is a run on the banks, the banks will collapse, and so will our economy. If you think things are tough now, they'll be much worse if that happens. Fortunately the US has some ways of avoiding this, including a bank holiday. Deposits are also insured, which is comforting (as long as the FDIC pays up). Still... What would be the point of all this?
You'll "send them a message"? The message will be, "Goodbye", because they'll wind up closing. They're already shaky. Why push them over the edge? Who benefits? Not us. Who do we hurt? Not them - not as much as we wind up hurting ourselves.