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UK bank run unfolding.

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posted on May, 20 2010 @ 11:02 AM
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www.zerohedge.com...

"Pan-European Bank Run Is Now On: Capital Flight From UK To Switzerland, As GBPCHF Intervention Strikes Next"

This is not only logical, it was inevitable.




posted on May, 20 2010 @ 11:23 AM
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reply to post by leo123
 


Interesting post. It has to be said that extraordinary claims require extraordinary evidence. Corroborating evidence would be a good start.

A little caution is advisable, as calling a run on the banks all too often leaves the messenger looking like Chicken Little.

(Still watching with interest, nevertheless.
)



posted on May, 20 2010 @ 11:27 AM
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reply to post by leo123
 


Maybe thats why the DOW is dropping like a load of Bricks. They seen the run in Europe and are getting nervous.. So much for a global economy.



posted on May, 20 2010 @ 11:30 AM
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Ameritrade is down right now? I just got off the phone with them and they told me they are in "red alert right now." They don't know why they are down, and the guy I spoke with said he has never seen this happen before!

The DOW is going down, down, down.

The internet is working slow today, and my computers at work have gone down several times as well?

Where is ATS on this thing? Are we missing something?



posted on May, 20 2010 @ 11:43 AM
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reply to post by leo123
 



From here-Money Central


12:30 ET Dow -291.18 at 10153.18, Nasdaq -78.12 at 2220.25, S&P -34.19 at 1080.25[BRIEFING.COM] Stocks recently tried to trim a portion of their losses, but failure to gather momentum has turned into another descent. All 10 major sectors in the S&P 500 are now down by at least 2%, but half of them are down by at least 3%. Nasdaq -78.12 at 2220.25... NYSE Adv/Dec 122/2972... Nasdaq Adv/Dec 177/2493.



12:00 ET Dow -250.91 at 10193.46, Nasdaq -67.76 at 2230.61, S&P -29.45 at 1085.60

[BRIEFING.COM] This is the fourth session in six that the stock market has fallen by at least 1%. This session's slide also marks the tenth loss in May's 14 trading sessions. Those losses have left the S&P 500 to trade with a month-to-date loss of more than 8%.

Commodities have fared even more poorly this month. Specifically, the CRB Commodity Index has fallen 10% since April ended. It is presently down 1.1%. Oil has been a considerable drag on the CRB, given that oil prices have fallen approximately $20 from their 52-week high to almost $70 per barrel, based on the July contract, in less than three weeks.
Nasdaq -67.76 at 2230.61... NYSE Adv/Dec 131/2949... Nasdaq Adv/Dec 188/2464.




11:30 ET Dow -216.60 at 10227.77, Nasdaq -61.88 at 2236.49, S&P -25.78 at 1089.27

[BRIEFING.COM] Stocks are trying to work their way back to the levels that they saw during the first hour of trade, but resistance at the 1090 line has impeded the S&P 500's move.

With weakness so widespread, stocks remain on track for their third straight loss and their worst single-session slide since the "flash crash" exactly two weeks ago. Amid such persistent and stiff selling stocks are now down nearly 11% from their 52-week intraday high.
Nasdaq -61.88 at 2236.49... NYSE Adv/Dec 131/2933... Nasdaq Adv/Dec 191/2441.



posted on May, 20 2010 @ 11:44 AM
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reply to post by getreadyalready
 


Personally the distraction is the Korean issues.... Greeks have gone on strike again, and Merkel is jumping up and down and leading the charge against the banks (bit like Gordon Brown tried to do) lots going down down down..

My take is that before the market fall off a cliff that we'd enter a state of conflict, and I do wonder at the timing of the report on the South Korean ship..

We certainly live in interesting times..



posted on May, 20 2010 @ 11:55 AM
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reply to post by getreadyalready
 


Ameritrade Online Trading


We are having technical difficulties that may result in limited access to your account. We are working to correct this problem as quickly as possible. We apologize for any inconvenience.


This across the top of the page!



posted on May, 20 2010 @ 12:12 PM
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Originally posted by endisnighe
reply to post by getreadyalready
 


Ameritrade Online Trading


We are having technical difficulties that may result in limited access to your account. We are working to correct this problem as quickly as possible. We apologize for any inconvenience.


This across the top of the page!


Convenient while the DOW is in a major sell-off don't you think?



posted on May, 20 2010 @ 12:16 PM
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reply to post by getreadyalready
 


Yeah, would not want anyone to be able to get out.

I told my brother a couple months ago to think of pulling his investments.

Also, told him two years ago to put it all into gold. He didn't. Now, I am wondering if the increase in the dollar is going to make the gold crash or just flatline. Going to take a look on how that is doing.

I hope he listened to me this time.



posted on May, 20 2010 @ 12:19 PM
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Maybe it's just me, but I see a Bank Holiday afoot.
2nd line



posted on May, 20 2010 @ 12:22 PM
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Originally posted by Afterthought
Maybe it's just me, but I see a Bank Holiday afoot.
2nd line


Good thing I don't have any money in the bank!


I do have a couple of thousand in Ameritrade though.
I want it back.

I have spent the past year making sure that my household was designed to withstand anything short of all out extended war in my town, LOL! We have food, water, medicine, blankets, tools, bullets, etc. We don't need the local WalMart or the Bank to survive any short to medium crisis.

Any crisis that goes beyond short term will require specific and unique action, so no use preparing for that unknown until it happens, but bank-run/bank-holiday...NO PROBLEM! LOL.



posted on May, 20 2010 @ 12:23 PM
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The government controls the root servers that are the "internet". Based on last weeks sudden crash and rebound - which no doubt netted the big trading houses billions in profit - I could totally see them limiting the traffic to purposely slow done all of the electronic batch trades which could cause the market swing wildly and quickly.

In short, they're doing anything and everything to maintain the illussion that everything is cool. It's NOT!



posted on May, 20 2010 @ 12:24 PM
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let it begin! I think we still have sometime before the all out blast but the cards are wavering. A few more straws to go.



posted on May, 20 2010 @ 12:27 PM
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reply to post by getreadyalready
 


Have you tried to get your money from Ameritrade? If so, what have they told you?

I always did think it was strange that they quit playing It's A Wonderful Life a few years back. I guess any movie, especially a holiday one, that illustrates a run on the banks wasn't good for programming the masses into thinking that everything was just fine & dandy.



posted on May, 20 2010 @ 12:31 PM
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reply to post by Afterthought
 


Unfortunately I planned to sell about 50% this afternoon. Friday afternoons are typically down and Monday mornings are up, so I usually try to sell on Monday or Thursday and buy on Friday afternoon.

The Memorial Day weekend (or any 3 day weekend) usually has an even bigger Friday dip and Monday rebound. With all the volatility this week, I was actually going to sell some today, and some on Monday, and then buy back in next Friday afternoon.

Hopefully the site will come back online before Monday. It isn't a good day to sell anyway with the market diving. That is unless it keeps diving and diving, and then I am going to miss that money! Luckily I can live without it.



posted on May, 20 2010 @ 12:40 PM
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Well, it does not look like there is a move on gold.




posted on May, 20 2010 @ 01:53 PM
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reply to post by endisnighe
 


Do you think maybe certain "special" people are starting to purchase platinum & more precious metals thus causing the gold trade into the Doldrums? I doubt the MSM would ever report something like that if it were happening.



posted on May, 20 2010 @ 03:28 PM
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I had 'the feeling' about 2 weeks ago and sold everything i had.

I told people what i had done the day after and nobody took much notice. I didn't really know what to say than " something bad is going to happen soon" but it seems to be happening faster than i though it would.

Im not exactly an expert, i have only been playing with the stockmarket for a little under a year, however it is worrying me that globaly we piled on the debt in order to get out of the toilet. Now we have no money left. Greece seems to have been the first to feel it, but were all in a similar situation.

As an aside, does anyone remember anyone who posted here on ATS at the time of the bailouts saying that it would last untill about mid 2010? - ie NOW
(somethintg about the money being used to keep the stockmarkets artificially high, and when it runs out we would be screwed again)



posted on May, 20 2010 @ 04:58 PM
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So, Ameritrade mysteriously let me in with no problem now that the market is closed. Earlier the problem was not the typical server problem. The problem was that the system kept telling me my password or username was wrong. When I called in to them, they were aware of the issue and it was system wide? How does the system lose everyone's password and username?

Anyway, I was planning on selling a couple of stocks today. My portfolio lost 8% today while I did not have access, and each of my stocks are trading even lower in after hours trading, so I put orders in to sell first thing in the morning.

I have a feeling that I will not be the only one doing that exact same thing, so be prepared for a HUGE drop first thing in the morning. I haven't decided yet if I will immediately buy up some stuff as the market falls, or if I will take my cash and buy more bullets and rice, LOL!



posted on May, 20 2010 @ 05:23 PM
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I am with Lloyds TSB and my last statement was dated 30 April, arrived early May. The first page was an explanation of the Financial Services Compensation Scheme and how my money is protected should the bank go bust. I immediately went and drew out a chunk of money and stocked up on even more of the stuff I'm already stocked up on.
Don't know why they included this information. They've never done this before. I was worried it might cause a run on the bank so I ran to the bank.



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