UBS : Europe-wide bankrun is happening and could turn ugly

Well this is fun. And I hope it happens. The whole system needs to go down.... the people needs to bring it down... not the banks in their own way to screw us all.

Dow Sinks 500, Worst Day Since Dec. 2008

Art Cashin, director of floor operations at UBS Financial Services told CNBC. "We’re hearing reports of funds drawing out of European banks and we’re pretty close to something that might turn ugly."

Well it's no big surprise people are doing this. Big European banks are bankrupts... and those that aren't are leveraged in several bankrupt countries... so if one big bank goes down or one big country goes down, the whole thing goes down.

Originally posted by Vitchilo
Well this is fun. And I hope it happens. The whole system needs to go down.... the people needs to bring it down... not the banks in their own way to screw us all.

Dow Sinks 500, Worst Day Since Dec. 2008

Art Cashin, director of floor operations at UBS Financial Services told CNBC. "We’re hearing reports of funds drawing out of European banks and we’re pretty close to something that might turn ugly."

Well it's no big surprise people are doing this. Big European banks are bankrupts... and those that aren't are leveraged in several bankrupt countries... so if one big bank goes down or one big country goes down, the whole thing goes down.

Oh snap. I'm going to go withdraw my 300.00 tomorrow as soon as the bank opens.
Really. It's all I have. And I desperately need it. I would hate for all the wealthy to phone ahead of time and have their loot moved elsewhere, so by the time I show up, along with the rest of the working class, they just say...oops we're fresh out of cash...Will you take an I.O.U.?

reply to post by Vitchilo


Could turn ugly? Ya have to be kidding me.

It is going to turn ugly and a whole lot quicker than most think.

Just a matter of time now, for the USA.

Way to go Congress and Obama. You triggered the final shot-that will be felt around the world.

Go ahead an deny it but you can't beat history.

You should all be ashamed of yourselves (Congress & Pres Obama). Instead of being true leaders and a nation to look up to, you showed the whole world

What failures you really are by worrying about your own elections and not putting the USA first. The world will follow suit.

Well except China.

Cool, I'm gonna draw all my savings....

all 66 pence of it !

That'll er show them !

On a more serious note, is this the tipping point ?

I am not finding any other sources about bank runs taking place. Is it being blacked out or is it not a problem yet? A big enough bank run could be even more disastrous for the markets than bad jobs data at this point.

ETA: If jobs data for tomorrow is terrible, and there is a bank run....LOOK OUT BELOW!

Gold, Guns, Goodwill...

Peace to all....

if the SHTF everyone is invited to Portland for a BBQ. BYOB!

Where's your source or are you just trying to scare people?

Originally posted by IndieA
Where's your source or are you just trying to scare people?

Can't read? It's in the OP.

Seriously... read before making worthless comments like that.

First, a 'sell-off' is when people sell their stocks in exchange for cash and put that cash in the bank and wait.

A 'bank-run' is when people take their cash out of the bank and keep it in their houses.

We might be seeing both happening all over the world.

Spain and Italy possibly needing a bailout isn't the source of this 'bank-run'.

This debt deal that the Republicans won and Obama capitulated to and approved of will destroy the U.S. and world economy.

No capital gains tax breaks will expire.
Payroll tax breaks will probably expire.
No unemployment insurance extensions.
No government spending to create new jobs.

Now there will be riots. My advice to you is to start growing vegetables in your yards and start sharing. Start going to the firing range.

If you can read this message, brace yourselves for what is going to happen now.

This is John Thomas from the Titor Project.

This is what should have happened. It won't happen now.
The government should have increased spending to create jobs by hiring private contractors to build and repair that raises demand and stimulates more private sector jobs.

Originally posted by ren1999

If you can read this message, brace yourselves for what is going to happen now.

This is John Thomas from the Titor Project.

This is not the first post you have claimed this title. I am slightly skeptical of your claims to say the least but the message of being prepared for the inevitable upcoming whatever is always a good idea.

Not fearing death is the first step. I only fear for those people that I have in my charge (family).

Your can only trust and count on those who are in your immediate circle.

So Mr. John Thomas? What source of inside information are you leaning on to provide all of us with these dire predictions?

Zerohedge is always a good place to check on days like this.

www.zerohedge.com...

Less than an hour ago, Larry Kudlow tweeted the following: "Sources tell me Italy has to restructure bonds.Deposit run on Italian banks.EU will have to mount Tarp rescue.Big stress on interbank loans." Basically, this is the worst possible combination for Europe which means that another bailout is not only imminent but has to happen tomorrow.

reply to post by Vitchilo


One guy speaking to the press. Anything else?

reply to post by ren1999


Are you somehow trying to relate yourself to THE John Titor, The Time Traveller?

Lovely. Nothing like the smell of fresh economic doom in the morning

"Some men just want to watch the world burn"

Originally posted by Nomad451
Lovely. Nothing like the smell of fresh economic doom in the morning

The same smell that has been around for a very long time now.

There are worse things that could happen.

In the end, if you have money in a bank, take it out and spend it all, just in case it may end up worthless later... If enough people do that, the economy will be stimulated for real... Good times for all, for a while anyway.

reply to post by LightAssassin
Look at some of this person's other posts... All claiming to be connected to John Titor in some way. I guess there is little proof they could provide to back up their claim...


Best Wishes

William Jefferson Clinton

I'd withdraw my money but by the end of pay-period it's empty anyways!

Originally posted by redzareptile

Originally posted by ren1999

If you can read this message, brace yourselves for what is going to happen now.

This is John Thomas from the Titor Project.

This is not the first post you have claimed this title. I am slightly skeptical of your claims to say the least but the message of being prepared for the inevitable upcoming whatever is always a good idea.

Not fearing death is the first step. I only fear for those people that I have in my charge (family).

Your can only trust and count on those who are in your immediate circle.

So Mr. John Thomas? What source of inside information are you leaning on to provide all of us with these dire predictions?

2031Aug0510:56-->2011Aug0510:56
You can see my message! Great! Please read my posts around the net as Ren1999!
You will find that all of my predictions have come true.

There is now a cure for the cold, cancer, V.D. -- HIV. But it is being hidden.

We are only weeks from total world economic collapse.
The earth's magnetic field is shifting causing natural disasters.
Then we will have a desert age.
When the DOW keeps plummeting.
When people start to pillage.
Get the neighbors, head north.
Aegean hit.

reply to post by LightAssassin


Yes.