The Predicted Run on Banks is On

[rush2112]

The worst case scenerio is finally happening.

http://www.huffingtonpost.com/lauren...b_1514808.html

from the link:

If bank runs in Greece spread to Spain, Italy, Portugal, and Ireland, they will then spread to Belgium and France and from there to other parts of Europe and, potentially, even the U.S.

[valerb]

The worst case scenerio is finally happening.

http://www.huffingtonpost.com/lauren...b_1514808.html

from the link:

If bank runs in Greece spread to Spain, Italy, Portugal, and Ireland, they will then spread to Belgium and France and from there to other parts of Europe and, potentially, even the U.S.

Greece is not Argentina where they were trying to get their money out and turn it into a tangible asset before it turned to dust. They would be trying to get their money out while it was still the Euro, which would retain a high value.

There really wouldn't be a need for any of the other countries to do the same unless their residents were sure their governments were on the verge of dumping the Euro.

If there was to be a cascading effect over there and the Euro was taken down, that would only cause the Dollar to keep rising in value as it is today. The Euro was still above $1.30 last Wednesday and is below $1.27 right now.

You want to flee your currency when it is crumbling not when it is experiencing high trading levels. That's not to say it wouldn't be the best time to purchase more of things like Silver that have a world price versus a US price tag like a Big Mac that wouldn't change price, even it the value of the Dollar double on the world market.

[billmr]

The worst case scenerio is finally happening.

http://www.huffingtonpost.com/lauren...b_1514808.html

from the link:

If bank runs in Greece spread to Spain, Italy, Portugal, and Ireland, they will then spread to Belgium and France and from there to other parts of Europe and, potentially, even the U.S.

This confuses me, I do not live in Greece, but the future road was very clear even last year.

are people there so complacent that they are only now going on a nice panic ?

does anyone know what the average fluoride level in greek drinking water is ?

[Quo_Vadis]

Most People with savings, keep them in Banks in their own Countries; along with their Salaries, which are paid in Weekly or Monthly. Even if Greeks saw a crisis coming, they still need to Live Day to Day and need the Money they earn, or have saved, to do that. That being the Case, most People like to have their Money close to Hand, so they can access it easily. As it is also in Euros, a recognized currency throughout the whole of the Euro Zone, they have SOME stability. However, for those that know how these things work, if a Country or Bank are about to go under, the first thing they do is to freeze all assets. In the case of a Bank, that's just the Bank's OWN assets; in the case of a Country, that's the assets of ALL Banks in that Country. When there starts to be a run on Banks, as is now happening in Greece, that means the Clever investors; can normally see an asset freeze coming imminently and are getting their assets out while they can. The German Chancellor, says that there is no Mechanism in place; to allow Greece to leave the Euro, she says entry was NON reversible. So, as is usual, these Clever People, went into something; without having an exit strategy.....................and NOW, of course, people are looking for the Exit.

[rush2112]

This confuses me, I do not live in Greece, but the future road was very clear even last year.

are people there so complacent that they are only now going on a nice panic ?

does anyone know what the average fluoride level in greek drinking water is ?

A bank run is as much a physcologial event as it is a financial event. The road is also clear in respect to the current U.S. banking crisis or non-crisis, whichever you feel comfortable with, but there are no bank runs as of yet.
This is due to the dumbing down effect. People are to busy sending tweets and keeping updated on the Kardashians.

It appears Citibank is already prepared for a bank run. I was unaware of their plan untill today when I started researching the physcology of bank runs. This should scare the hell out of every American citizen with a bank account.

http://seekingalpha.com/article/1897...-funds-can-too

[billmr]

there have been lots of bank failures in the usa, I cannot remember the last bank run

yes most people live paycheck to paycheck, and for some reason most have "direct deposit"

I do not have this, only because I like paper.

I am more worried about the places where most people really keep their money.

[Cpleus]

Yes, you are right!

[rush2112]

Yes, you are right!

Wussup c-plus, hows Mary Jane doing this year?