Is a run on American Banks in progress? You be the judge

reply to post by Lookingup


Ain't that the truth lol... I remember once I sat in an area where a lot of vagrant people liked to hang out at, and I took a dollar bill and rolled it nicely into a thin tube, which I then planted in plain site, on the top of an Iris plant. Mind you, the location was also on the Las Vegas Strip, so not just vagrant people, but lots of roaming tourists too.

I watched for two hours, and in plain sight, no one seemed to see it.

Very good possibility. Although the MSNBC video has been out several days before the weekend. I don't keep anymore cash in the bank then needed to pay the bills. If you have excess you are withdrawing I suggest you buy junk silver with it because if there is a bank run your cash will be worthless anyways in or out of the bank.

The sheep probably won't run the bank unless something really panics them from normal grazing. In my observation most still don't get it even after they see the video.

[edit on 10-4-2010 by hawkiye]

my my my....

this happened to me as well.

except it was in 2007.

I asked to withdraw 10,000.

The tellers looked at me like 'sheeple' in the headlights.

'We only have 10,000 total in the bank..." (why tell me that

even though they all know me well).

So I withdrew half, $5,000.

If you don't have a grab bag full of 'just enough' differing currency

by now (ie., Euros, Swiss Francs, Pounds, Gold, Silver) that you can

SAFELY and easily carry without arising too much suspicion,

then you haven't thought about this enough.

But it's ALWAYS been clear in the last 10 years at least,

Banks do NOT keep large amounts of cash on hand, and

anything over $10k takes a week to process...!!!

A few things to point out.

1) There isn't enough paper cash in existence to cover all the dollars in electronic accounts. Has been that way for decades. So banks having a lack of cash on a Friday after a 5 day business week is nothing unusual. Especially in April when people are paying taxes or cashing their tax refund checks.

2) The OP fails to take the next logical step and realize that if the collapse comes that he is illogically predicting this weekend, the dollars he took out would be worthless as well.

3) A run on a bank doesn't cause an economic collapse; an economic collapse causes a run on the bank. See anything happen like that this weekend? Didn't happen when banks were collapsing left and right and money market funds 'broke the buck'. Nothing like that now. Some huge catalyst would have to happen for what the OP proposes.

4) I saw the msnbc video and article, and no offense but it is nothing new and contained no bomb shells. Everything in their is known and it's not something catching fire and spreading all over. If the OP didn't know what was stated in the msnbc article, that is due tok their lack of paying attention the last 3 years.

[edit on 10-4-2010 by johnny2127]

China has been buying up alot of silver this year. I did some searching and couldn't find what I read before...isn't there an issue with silver bonds (or some other term) that aren't backed by real silver? Undoubtably, the fiat currency war is full on. I would never feel safe with silver in the long term because bankers are miners. Unlike gold, readily available silver mining opportunities exist to inject supply and crash the value.

reply to post by DarkspARCS

Every April there is a run on the banks by those who did not have tax withheld.

I'm not sure what the big deal is here...If a run happens (and it won't), all it means is that the Fed has another excuse to pump another 50 billion US dollars into circulation, thus perpetuating the cruelest tax of all on the working man...hyperinflation.

It all falls into place for them that way.

reply to post by ProtoplasmicTraveler


I'd have to agree, banks don't have nearly the amount of actual Cash you'd think they would have most times.


During the peak of the tax season, I had to call all my local banks to let them know they would be having lots of Tax refund checks hitting them from my business and that they should "stock up". Some banks didn't listen/believe me, they ran out of money after 3 or 4 juicy refund checks. It only takes about 12,000 to 15,000 of unexpected withdrawals to drain their reserve money. One time I actually replenished one local branch with money with my daily deposit, as they were running out or funds around 3:45 PM. It's not like the bank was bankrupt, it just didn't have the right amount of money at the branch.

That all being said, I don't trust the big banks at all. Now they want to be able to purchase the smaller banks that are actually run correctly. It's bad enough with the bailout that they managed to gobble up other big banks.

first it's awesome that Dylan Ratigan is on MSN ........he's had some great pieces in the past and this one is another A PLUS


but onto your post.......i think it's nonsense.....here's why

you seem a bit paranoid to think a piece like this is going to get people to pull money out EN MASSE............

most smart people already understand the way that banks work.....and most sheeple (dumb) people ........are telling themselves that dylan ratigan is crazy and trying to drum up ratings and then they switch the channel......they are protecting the bliss they get from ignorance......they lead busy enough lives that they don't value doing a "research project"/ critical thinking...during their free boob tube watching time

also and more importantly the FDIC gaurantee will and has done wonders to stop any bank runs.

Originally posted by DarkspARCS

If I know that you're hungry enough and stupid enough to try to rob me, do you think I'm about to go somewhere to get robbed?

Finally, if you can get past the blue nose, bully bread, American PitBull that LOVES patrolling my (lol..HIS) house - go ahead and rob me, you're worthy.

I had to laugh when I read this as my PitBull is the same way, this is HIS house and we are HIS. He is also trained, with verbal codes and silent signals. (You would have to know his code for halt to get him to stop etc - we did not train him for someone else to be able to control - and he is crotch trained) BTW his name is Roadkill...

As for run on the banks &/or pulling my money out... As someone else said earlier, we have no money to pull in the first place! Hubby has not worked (except for odd jobs) since Jan 2009! Thankfully all vehicles/land/house are paid for. And any odd jobs we get along the way is for food/electric/water/gas/insurance/phone/internet, although first and foremost the money goes to daughter's athletics/ Girl Scouts/ etc to give her a better chance at an acedemic scholarship; she currently is in AP classes and a member of the National Honor Society, Cross Country, Track, weight lifting, soccor and will be Acedemic Decathelon next year in addition to all the other, not to mention what she does outside of school. We are not on food stamps or any other gov help. We are struggling all the time anyway, if bartering comes about - we might have a leg to stand on!

Casing

PS Daughter is not overworked/overloaded, she knows she has our full support if she wants to drop something or another and has plenty of time to herself - in fact right now is on a date w/boyfriend...

Sorry had to brag on her some - she NEVER complains about lack of money.

S & F!

Peoples actions are a sign of whats to come!

You guys need to make up your minds.

On one hand, every claims the FED is printing trillions of dollars and debasing the currency.

And on the other hand, I have people claiming there will be a shortage of cash at banks.

Yeah Right guys.

Only one can exist at a time. Make your minds up.

Either the FED is pumping billions of $ into the banks or they are not.

Did you know the FED actually runs all these banks indirectly ?

Well, See I don't care either way though.

My bank account is negative 700$ right now.

If my bank collapses thats 700$ i wont' have to pay back.

Originally posted by CharlesMartel
reply to post by DarkspARCS

 

Every April there is a run on the banks by those who did not have tax withheld.

Yeah. Or those who got a tax return.

I got my 3000 $ return and went and payed off bills.

That money was gone in a week. And I didn't even get to buy anything.

Rent, Gas, Electric, Phone, Car. Thats where it all went.

That's why I did a run on my account last week. The bill collectors were getting impatient!!!

Originally posted by DarkspARCS

If you see some 6'2'' 250 lb man walking around looking angry, with a Glock 22 on his hip, are you going to Rob him?

Robbers are thankful that people like you wear your gun on your hip. Now they know you are armed and will not give you the chance to draw your weapon; they will just shoot you in the back before they rob you.

Do yourself a favor and get a concealed carry permit; robbers may be bold if they don't see a gun on you and they may make a mistake.

reply to post by muzzleflash


You do understand that dollars are used internationally don't you?

Most of the money the fed is "printing" is never actually printed.

It is an extremely complex monetary system, that is now extremely fragile.

The economy is collapsing, money is LOST in investment markets by banks and financial institutions, The impact of that affects us all in lost jobs and a very bad economy.

This system is faltering after years of corruption fraud and greed.

Your money in the banks has been used in these games.

They are trying to re-inflate a balloon full of holes.

Failure is nearly certain, anyone who waits to act to protect their savings and assets now could be in bad shape real quick.

So your worried about the run on the banks that you discovered during your run on your bank, and are now telling everyone to hurry up and make their run on their bank before it's too late!!

I'm not even sure where to begin with the fallacy in that. Do me a favor and find a history book and look up the great depression. Read the chapter on the bank runs and how much damage they caused to the system and in turn the economy. A wise man once said something to the effect of if you don't take the time to learn history you are doomed to repeat it.

-E-


[edit on 10-4-2010 by MysterE]

their can be an excess of electronic CREDIT.......

and a SHORTAGE of tangible CASH

They are very different

for instance would u think twice about taking (cash) a hundred dollar bill

would u think twice about taking (credit) a 100 loan.

the phrase "the banks are 'printing' like mad" is mis-used and is not applied correctly by many......

also the banks are not lending the money into existance.....inflation WILL not be a problem for the USA so long as

1. the fed is not under control of congress (congress would hyperinflate the currency in order to temporary boost economy during mid term elections)....both groups are corrupt ....but congress is dumber and more short cited

2.banks are not forced to lend by politican's .....banks may be sitting on excess reserves (inflation *potential*) but this potential will NEVER be realized so long as banks are concerned about setting aside cash for loan loss reserves....the ability for people to pay back loans is poor.....and small bizness risk is high....and loan demand by consumers is low

3 a one time devalution against gold does not occur (thou it could ....like in the 30's)

I've seen this coming, long back when ALL those smaller banks started going under. Since then I've been stocking up on food, water, seeds and other survival items.

I DO agree, once this thing ramps up, there's gonna be no getting cash out. I also agree CASH by then will be WORTHLESS!!....so, hit the pawn shops and get stocked on gold 'whatever' that you can use for barter once the dust settles in the streets.


May people view this as 'alarmist'....ya know what?...by the time the alarm is actually heard, it's far too late to do anything to save yourself!!

Here in Canada, there is about 50 billion dollars of money available but they have 1.5 trillion lent out. It costs 4 cents to make 1 cent. That makes no cents (sense).

Originally posted by DarkspARCS
I've managed to actually secure the cash. now, it will go to - yes - the purchase of munitions, a sizable amount of durable consumables, as well as the remainder will be invested in a commodity of my choice, that will carry it's value over into the coming new currency system.

That's the smart thing to do. You should probably buy some seeds or something so you can grow a garden as well.