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the latest figures released by the privately-owned Federal Reserve (FED) indicate that America's largest banks saw record cash withdrawals during the first full week of January 2013. As reported by Bloomberg Businessweek and scant others, account holders withdrew a record $114 billion in just one week, which represents the largest one-week withdrawal sum made in America since the September 11, 2001, terrorist attacks. The data, which accounts for all cash withdrawals made from the nation's 25 largest banks, has reportedly shocked many financial analysts who say they are unsure exactly what sparked this minor bank run. Some have speculated that the December 31, 2012 expiration of the Transaction Account Guarantee (TAG) insurance program, which was designed to protect smaller banks from insolvency, may have played a role in triggering what appears to have been a wave of panic withdrawals. Learn more: www.naturalnews.com...
Originally posted by winterkill
www.naturalnews.com...
the latest figures released by the privately-owned Federal Reserve (FED) indicate that America's largest banks saw record cash withdrawals during the first full week of January 2013. As reported by Bloomberg Businessweek and scant others, account holders withdrew a record $114 billion in just one week, which represents the largest one-week withdrawal sum made in America since the September 11, 2001, terrorist attacks. The data, which accounts for all cash withdrawals made from the nation's 25 largest banks, has reportedly shocked many financial analysts who say they are unsure exactly what sparked this minor bank run. Some have speculated that the December 31, 2012 expiration of the Transaction Account Guarantee (TAG) insurance program, which was designed to protect smaller banks from insolvency, may have played a role in triggering what appears to have been a wave of panic withdrawals. Learn more: www.naturalnews.com...
I sincerely doubt that excuse, since the bulk of these withdrawals were made at larger banks that were not covered by TAG, Another more likely explanation is that Americans are simply freaked out with the current state of the financial system.
This is further reinforced by a similar run on "physical" gold around the exact same time, suggesting that depositors are anticipating rocky times rapidly approaching.
Sadly what people don't know is that the gov has made it clear they have the right to make everyone turn in this gold and silver or face massive jail time.
People would be wise to buy gold and silver american coins as collectors under the junk coin selection as the gov usually doesn't touch american coinage. Bars and leafs on the other hand are fair game.
Originally posted by winterkill
So if you knew the system was about to crash, would you pull your money?
Originally posted by woodsmom
reply to post by winterkill
If it's true, this is a very good indicator of how far along in the process we are.
However, if the system is about to crash, won't the paper money be useless anyway? I agree that small amounts of junk silver may be a good idea, but you can't eat money, of any kind.
Maybe it's time to go to the grocery store instead? Just my 2 cents.
Originally posted by woodsmom
reply to post by winterkill
If it's true, this is a very good indicator of how far along in the process we are.
However, if the system is about to crash, won't the paper money be useless anyway? I agree that small amounts of junk silver may be a good idea, but you can't eat money, of any kind.
Maybe it's time to go to the grocery store instead? Just my 2 cents.
Another more likely explanation is that Americans are simply freaked out with the current state of the financial system
Originally posted by spy66
Originally posted by woodsmom
reply to post by winterkill
If it's true, this is a very good indicator of how far along in the process we are.
However, if the system is about to crash, won't the paper money be useless anyway? I agree that small amounts of junk silver may be a good idea, but you can't eat money, of any kind.
Maybe it's time to go to the grocery store instead? Just my 2 cents.
The problem with buying precious metal and daimonds and so forth. And the system crashes. Is that you wont have acces to your resources. So basically you have wasted money.edit on 27.06.08 by spy66 because: (no reason given)