Alert: Banks parked a record $590.72 billion overnight with The European Central Bank.

The European Central Bank said the continent's banks parked a record $590.72 billion overnight with the ECB, reflecting distrust in the European banking system.

Source:
finance.yahoo.com...

Euro hits 11-month low against the dollar as banks hoard ECB cash

2012 could be interesting however not very great for the economy. Is this relocation of funds an alert?

Certainly sounds like the rich and not so famous are taking their cash out of the local bankimg systems.
The collapse seems imminent, but im wondering what the trigger will be?
It shouldnt take much, but what>
Looking at the european situation is like looking at a wheelchair patient at the top of a set of stairs with a furtive psycho sneaking up behind.....
You just know hell pounce but when.................
Britain is preparing to evacuate their citizens from europe if nessessary....and to close its borders too......
How likely does all this make it?
its still anyones guess...whats yours?
A day? a week? a month?

reply to post by stirling


No nation is safe, an euro collapse would lead to £,$ collapse within weeks. UK cannot produce more than half of the food it needs to feed the population, also has no energy resources so imports are needed. I am in the UK at the moment, should be here to spring 2013 but I would rather prefer to be in Romania when SHTF , simply more likely to survive with no currency out there.

reply to post by Romanian


The UK as a whole would struggle. However, I believe Scotland has quite enough food and other resources to supply its very small population of just 5 million.

reply to post by Romanian


I love this.
The BBC is reporting the massive drop in Italy's borrowing costs, to the extent of it scrolling across the screen today, and yet they don't even mention this in the business news

Always push the positive wherever possible, don't mention the negative unless it would be conspicuous by its absence.

I wonder when people will finally realize that the materialization of money out of nowhere to keep banks afloat come from their taxes. euro's, dollars, yens... it doesn't matter, and neither does this, just another excuse to raise inflation and delete the middle class

reply to post by Romanian


You'll be fine as long as you prepare and read the signals, like the one in the OP!

You're already further ahead than millions of other people in the UK. As long as you follow what's happening you'll be prepared while most of the country is still waiting for our government to rescue them and fix everything.

reply to post by detachedindividual


They did mention it on Bloomberg, Reuters and Yahoo finances. Blame the Christmas hehe! Still finding this transfer of funds quite suspicious , we will see.