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What happens when there's a run on the banks?

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posted on Mar, 6 2011 @ 11:31 PM
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I was at the bank last week and had a similar experience to the gentlemen in the YouTube video. I asked to withdrawal 5,500 USD from my account and I was told they would only give me 4,000 due to new policies. I was then told that if I needed more I would have to come back tomorrow. This had me thinking that with the media focusing on the Charlie sheen distractions what is the other hand doing so to speak. Here are some recent events that I found to be important.




What if a perfect storm is brewing? What would happen if the world dumped the dollar as the world reserve currency? What if China stops buying our debt and the world begins to dump treasury bonds while oil prices Rapidly rise... Spooky

China 5 year plan to Dump the Dollar

China and Russia dumping the dollar

China Threatens to dump bonds

$200 dollar a barrel of oil

Possible Timeline


what timeline do you think we are looking at for all this to unfold? What would that be like if we had a run on the banks?




posted on Mar, 6 2011 @ 11:39 PM
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Then we'll see a scenario that is like that economic crisis in homefront game trailer (minus the north korean invasion)

www.youtube.com...


(watch 1:00-1:29 if you want to know what I mean)



posted on Mar, 7 2011 @ 12:04 AM
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reply to post by Deja`Vu
 

Thanks for posting the Beck clip I believe he's doing good work; many many others here will "disagree"and hand you your head in a basket: He is introducing alot of "fringe" concepts like complete utter collapse to run of the mil(American idol) Americans' who have no idea what we are in for if(?)when(?) things progress.the more people who at least have a week or two of chunky soups in their basement the fewer will show up in your basement at 0200.looking for some.



posted on Mar, 7 2011 @ 12:07 AM
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reply to post by 46ACE
 


You mean he's stolen yet more ideas from Alex Jones and spun them as his own.

Sorry, but Glenn Beck and the word "credibility" go together like a square peg in a round hole.

As for a run on the banks? Don't see it happening what with the new season of American Idol and Charlie Sheen's problems.



posted on Mar, 7 2011 @ 12:10 AM
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Originally posted by starwarsisreal
Then we'll see a scenario that is like that economic crisis in homefront game trailer (minus the north korean invasion)

www.youtube.com...


(watch 1:00-1:29 if you want to know what I mean)

wow I'm not a "gamer" but that looks pretty believeable.
(and that Hillary is smo ho-kin' hawt huh?)



posted on Mar, 7 2011 @ 12:17 AM
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Originally posted by The Sword
reply to post by 46ACE
 


You mean he's stolen yet more ideas from Alex Jones and spun them as his own.

Sorry, but Glenn Beck and the word "credibility" go together like a square peg in a round hole.

As for a run on the banks? Don't see it happening what with the new season of American Idol and Charlie Sheen's problems.


Yeah that took all of 3minutes from my post to yours.."slippiiinnn doood"...whatja' go outside for a smoke?
That's your opinion and you're certainly welcome to it..


most folks outside of patriot/militias types and internet denizens have never heard of alex jones.even if he was doing something awful by spreading his stuff.

Added:As for the "run" I hope you are correct I think the only people who really have a good handle on knowing are running computer simulations deep in a basement somewhere in Langley va. and they aint talking to anybody.

edit on 7-3-2011 by 46ACE because: added:

edit on 7-3-2011 by 46ACE because: (no reason given)



posted on Mar, 7 2011 @ 12:32 AM
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First of all, you need to be able to run faster (toward and away from the bank) than everybody else (maybe this is a bad idea).....;second, you need to stock food, ammunition, water, and every other things. Last, pray for your and your love ones's safety.



posted on Mar, 7 2011 @ 12:57 AM
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I hope we can turn the ship around but it feels like we are just rearranging deck chairs on the titanic.

I think we have a 2 year time frame to prepare... I hope



posted on Mar, 7 2011 @ 01:07 AM
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Commenting on the first video, I like that the guy brought a hidden camera.

Strange coincidence, a friend of mine tried to withdraw a similar sum as the person in the video and the bank only gave them half and asked for them to come back in two days. Which is strange, because I had never heard of that before.

We are in mid-eastern Canada.

While it is just a coincidence, it does let the imagination run....



posted on Mar, 7 2011 @ 01:17 AM
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reply to post by boncho
 


I was told by a economist friend that he believes deflation will accure and that fiat currency will become scarce and that having a bunch of one dollar bills would be important. I don't fully understand his logic but he is a fan of Bob Prector and if banks are limiting cash withdrawals there may be some truth to it.



posted on Mar, 7 2011 @ 01:54 AM
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Originally posted by Deja`Vu
reply to post by boncho
 


I was told by a economist friend that he believes deflation will accure and that fiat currency will become scarce and that having a bunch of one dollar bills would be important. I don't fully understand his logic but he is a fan of Bob Prector and if banks are limiting cash withdrawals there may be some truth to it.


I presume in a deflation scenario the bank would limit the number of large bills in circulation? I don't see why you would want low denomination unless because of the demand that they become scarce. I have very little understanding about banking though.

Deflation is what Bernanke has been warning people about for the last few years. And he is starting to look less and less confident every time he sits in front of congress. That is scary because the guy never seemed to care about anything before. I wonder what's bothering him?


Whatever happens, minus all the ill effects, this will be an interesting time to live in for the next decade.



posted on Mar, 7 2011 @ 02:25 AM
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As far as I know, any particular bank branch must have available 10% cash for all deposits at the branch and a diverse bank with multiple branches only has to have 3% cash assets available over the entire franchise / bank network.

I'm not sure how a bank, such as Bank of America, can satisfy the 3% overall requirement and the 10% available at the branch though. Rather simple, albeit a hypothetical situation, the math shows that if people at each branch withdraw their money, the 10% requirement will be quickly overwhelmed, and since 10% is more than 3%, their entire bank system will be short on cash.

I may be wrong, but the math doesn't work.


edit on 3/7/2011 by abecedarian because: (no reason given)



posted on Mar, 7 2011 @ 03:05 AM
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reply to post by abecedarian
 





I may be wrong, but the math doesn't work.


I think you just described the entire banking system in a nutshell.



posted on Mar, 7 2011 @ 03:14 AM
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Originally posted by boncho
I presume in a deflation scenario the bank would limit the number of large bills in circulation? I don't see why you would want low denomination unless because of the demand that they become scarce.


Deflation = greater purchasing power of the dollar. Inflation = Dollar buys less.

I wish we'd tested the deflationary spiral Hurricane Ben was so paranoid about, I really do. Seems like the guy has the reverse Midas touch and everything he touches turns to crap. Would have been nice to have seen the old paycheck go further every week but instead here we all are staring down the barrel of hyperinflation. My God Bernanke is a champion of suck.

As for the banks, I suspect they've instituted a lot of secret security measures to try to slow bank runs... at least where the middle class and below are concerned. You can bet your last dime that the ultra wealthy don't have such restrictions on their funds.



posted on Mar, 7 2011 @ 07:04 AM
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reply to post by abecedarian
 


10% of what?

If a bank has 100 branches in one city and spans several states how do you calculate 10%?

CDs are locked in for months to years so do you add those to the calculation?

More likely that one branch was having temporary issues and had to limit cash output.

One poster says it happens in Canada too, so I don’t think it’s a dollar collapse issue.



posted on Mar, 7 2011 @ 08:50 AM
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The FDIC garantees deposits up to 200k so unless you have more than that in the bank you neednt worry.



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