TODAY: World Bank Run Dec 7 2010

reply to post by boondock-saint


i'm not gonna lie... if you watch those zeitgeist movies this sounds a whole lot like what started the great depression and gave the rocafellers a whole but load more power... and put us in the strangle hold we're in now... i think there should be a variable to this... only withdraw if you have your money in a huge bank like bank of USA or wells fargo... crash the huge banks leave the small ones to pick up the pieces. (that way they learn)

As expected, no bank run, no nuclear false flag attack in NYC.

DOW is up nearly 100 points at open

reply to post by fah0436


The global meltdown is inevitable. Why take money out of the bank? If there is a global meltdown, cash will be worthless anyway.

I have investments in silver in small easily traded denominations.

OP- I know things are not that great and there seems to be a lot of running back and forth, looking for some illusive thing. When this happens, it seems better to sit still for a while. Usually you will see what causes the turmoil, but if you jump all over the place in reaction you will miss the revelation or lesson.

Plus, I put this on hold for now as I didn't have time to get my money out of the bank. I am glad they listened to me!

In hindsight I guess letting the French lead the charge in the run on the banks wasn't such a good idea.

They started running but once they got there all they did was scream WE SURRENDER.

reply to post by starchild10


The Banks however in Ireland curiously had a problem with ATM machines today

Glitch hits Bank of Ireland services

More than 1.2 million Bank of Ireland customers are still experiencing difficulties withdrawing money by ATM, online and in branches.

The bank, which originally said the problem would be resolved at lunchtime, now says it is “hopeful” of getting it sorted out this evening.

Oh yeah????

Originally posted by PuterMan
reply to post by starchild10

 

The Banks however in Ireland curiously had a problem with ATM machines today

Glitch hits Bank of Ireland services

More than 1.2 million Bank of Ireland customers are still experiencing difficulties withdrawing money by ATM, online and in branches.

The bank, which originally said the problem would be resolved at lunchtime, now says it is “hopeful” of getting it sorted out this evening.

Oh yeah????

Yeah I saw that too:
www.bbc.co.uk...

The Irish truly have a reason to make a run on the banks. The French, not so much, the idea of taking cash money out of a banking system that operates on plastic credit and debit cards is pointless. The response, we are out of cash money go to another branch, NEXT! will be heard over and over again.

The other response would be for more bailouts which are payed for by the people anyways. I never understood this crazy scheme.

Laughable, really.

There's still "hope". The dollar may soon be devalued and replaced as the global reserve currency of choice. There may yet be "Panic in the Streets of London"...

when the defecation hits the oscillation your cash will be worthless. Your precious metals will probably be useless also. However your food, water, guns and ammunition, generators, fuel,batteries and matches?...now that's stuff I will make a "special" trip under the wire for.
Bank Run =a waste of time

Originally posted by babybunnies
reply to post by fah0436

 

The global meltdown is inevitable. Why take money out of the bank? If there is a global meltdown, cash will be worthless anyway.

I have investments in silver in small easily traded denominations.

I do largely agree. In the event of a collapse, having cash in your hand/home is mostly psychological. Much better than ones and zeros in a computer somewhere that you can't get to, but it will still be pretty much worthless. Like you, i feel that commodities like gold and silver are better, but you can't eat them either.

reply to post by fah0436

I do largely agree. In the event of a collapse, having cash in your hand/home is mostly psychological. Much better than ones and zeros in a computer somewhere that you can't get to, but it will still be pretty much worthless. Like you, i feel that commodities like gold and silver are better, but you can't eat them either.

I invested in sheep goats and heritage seed. goes well with my 100 acs

In a Cultural aspect- THIS BANK RUN IS HUGE!

1. It has allowed millions throughout the world, regardless to which human farm they're enfranchised, that we have vast numbers.

2. It has shown that despite the vast numbers, the disparity of wealth is massive (run has little visible effect as of Dec 7th), and while the serft/proles/residents/consumers are pissed off, passionate, their combined wealth has been insufficient thus far to close a door.

3. It has shown the collusion between banks, government and Lame-Stream-Media (I believe this was definitely front page ATS material that I never saw there). While little to NO attention was paid to this by MSM, now the newswires are full of articles about Cantona's failure. Reminds me of the infamous line by Chancellor Adam Sutler, "I want everyone to remember why they need us.

4. Likely the greatest of accomplishments culturally is the mobilization, organization and shared passions of people in one country and others from other countries. This has turned the Waco Texas massacre from something only vets in BDUs were attentive to, to the 9/11 fiasco mobilizing college students and professors. The cat is now definitely OUT OF THE BAG globally.

5. It has thus far provided an opportunity to discuss A: The myth of the "necessity" of banks, B: Alternatives to the banking syndicates.

I am very excited about this Bank Run December 7th. Sure, the folks who pulled money from Chase to put it into BOA didn't entirely understand the gist, but there are a lot more who are now washing their hands of the Syndicates.

In the long term, this will have an impressive impact upon the banks. Let's say that $1Billion has been withdrawn from the banks globally (could be more, could be less... just a number I heard mentioned about France's participation).

We all know from the fractional reserve model that $1B in saving is nearly $1T in loans. $1T in loans at 5=15% interest is REALLY a significant chunk of the revenue stream. Already, the banks are tight, choosing to stockpile cash instead of loan, and this will definitely affect the bottom line.

The ramifications will be difficult for a fast-food culture to find patience waiting to see, but I am certain that this is the difference of light and day with global awareness and empowerment. The difference between Ron Paul's presidential campaign and Campaign for Liberty: Huge!

If you take your money out of a bank
and then use it to buy food/guns/gold/whatever
doesn't that just put the money right back into the system
with a multiplier attached?

Won't the stores direct deposit that income to their employees' bank accounts?

Self sufficiency, kids.

Use your money to ensure you never have to use your money.

One of the biggest factors of economic growth is changing technology.
Changing technology is figuring out how to use resources differently.

We have great resources here in the U.S.A.
We're not using many of them.

...most of our yards are covered in grass.

Maybe we should stop caring about the national, macro economy
and start worrying about our own individual micro economies?

I mean, you don't have to buy anything in "the market" if you make it yourself.

Boondock is right, we need a post Fed economy.
You can start today.
Move in with your family.
Begin a garden.
Reuse everything you can.

There's still a mountain of hope.

Is the whole idea of this so-called "bank run" based on a former has-been French Soccer player's "call" to do a "revolution"?? ???

French [former] Soccer Star [Eric Cantona] Calls for a Run on Banks

You people gave this idea more than its fifteen minutes??

An agent for Mr. Cantona, now an actor, said Monday that his client was filming and unavailable to comment.

...wait a minute, while I !!

Just some data for you guys, I work for a mortgage lender/broker and mortgage lending rates in the U.S. had a VERY sharp mid-day increase today. Mortgage rates are usually calculated and released at 10am weekdays and occasionally there will be a mid-day adjustment, but it's pretty rare, maybe a couple times a year. Today, there was an adjustment of about .5% to pricing (pretty big) around 2p-3p EST for most wholesale mortgage lenders. I know at least one, Cardinal Financial Company, completely shut down their pricing desk and cut off the ability to price or lock loans.

Also, understand that the only mortgage products out there (other than private mortgages) in the U.S. these days are Fannie Mae, Freddie Mac, FHA and VA loans which are ALL government organizations. They extend credit to mortgage lenders who originate loans underwritten to their standards. The banks sell the loans to the govt. organizations who then sell the loans in pools or individually to investors who collect interest through servicing companies. This is an extremely over simplified explanation of what happens on the secondary market for mortgages.

So the pricing adjustments would be something initiated by these government entities and/or the federal reserve, I believe.

My manager seemed to think it had something to do with Obama and Republicans and some something about taxes, but I think this international bank run is probably the culprit.

Just my $.02

Originally posted by babybunnies
As expected, no bank run, no nuclear false flag attack in NYC.

DOW is up nearly 100 points at open

Hmm
imagine that,. nothing happened,.wow
Only a moron would have gotten all excited

Originally posted by Lil Drummerboy

Originally posted by babybunnies
As expected, no bank run, no nuclear false flag attack in NYC.

DOW is up nearly 100 points at open

Hmm
imagine that,. nothing happened,.wow
Only a moron would have gotten all excited

We've all been there at one time or another so the use of the word "moron" only reflects upon your intellect and lack of perspective. If something has, or had, happened that you may or may not be aware of, what would that make you?

Wrong, but not a moron.

Show yourself a bit of respect and take your game up a level and quit the name calling. Civil discourse is all that's necessary.

Pricing for mortgage rates went up about another .5% this morning, so a total of 1% change to pricing in 24 hours. Not very common, especially in a dwindling economy.

Well, that's my $.02 again for a total of $.04 now!

Originally posted by Oldnslo

Originally posted by Lil Drummerboy

Originally posted by babybunnies
As expected, no bank run, no nuclear false flag attack in NYC.

DOW is up nearly 100 points at open

Hmm
imagine that,. nothing happened,.wow
Only a moron would have gotten all excited

We've all been there at one time or another so the use of the word "moron" only reflects upon your intellect and lack of perspective. If something has, or had, happened that you may or may not be aware of, what would that make you?

Wrong, but not a moron.

Show yourself a bit of respect and take your game up a level and quit the name calling. Civil discourse is all that's necessary.

well this was between myself and babybunnie
not intended for anyone else. should have clarified that,.

You see, on another thread I had posted that there was no worrie about the economic situation
and our dear bunnie jumped my $hit and called me a moron,.
so dont take defence,.