Has anyone done a bank run, if not, are you considering it?

Could gold be more vauable thab just its moneytery value.
What other uses could it have??

Try a google search for "gold DNA"

Short answer: allegedly gold atoms have a tendancy to bind to DNA. Filling in the "empty gaps" so to speak.

Now, ask yourself what might be the result of a few hundred tons of gold being dumped into the water supply.

whose dropping gold into the water supply?

hu? Whats THIS about?


superfluous line.

[edit on 27-9-2008 by theRiverGoddess]

I bring in very little & Gold is way out of my league, yet...

All of my funds not needed for bills has been going into Silver for a year now.

That's Physical Silver on hand, NOT paper silver.

Bank accounts are insured. You should not withdraw all the money from your savings account just because you feel the money is no longer going to be there. This is not to say that people who have large amounts of cash in bank accounts should not be concerned. It looks like the government is basically going to bail out the financial sector by printing up a punch of money, which will devalue currency.

It might be a good idea to take your cash and use it to buy land, stocks, bonds, precious metals, commodity futures, and other securities. The market is not going to go down forever and people who buy now will turn a nice profit in a few years time. Also, while the value of currency may plument, the value of assetts like stocks, precious metals, and commodity futures may remain static or even appreciate quicker than inflation.

Dude yesterday morning I was at the Wachovia in Toluca Lake (a section of North Hollywood likened as the Beverly Hills of "the Valley") and there was a seperate line of people about 5 or 7 of em just to remove their assets from the bank. this was at 9:45AM. these were rich people with lots of money and they were panicking and doing a bank run.

One guy in the line was bitching to his CPA that he had a 7,000 SqFt house and two jacuzzies and he couldn't live with his life style changing one iota or he'd have a break down i'm sure I could have handled a step down from that life style no problem.

So yeah there are some people doing bank runs out there. The bank had a really sullen atmosphere that morning.

Then some cute girl in her late 20's in front of me who spoke in the most vapid of terms exclaimed "a savings account?!? whats that??? I have a savings account?"

I thought how cute, she doesn't know what a savings account is. then I watched her skip out of the bank (La La La La almost brainlessly humming to her self) and hopped into the drivers seat of a new 65SL AMG and screech clumsily off down the street. Yeah there's nothing wrong with our economy and financial system when people who don't even know what a savings account is get to drive 250K cars. nothing wrong there at all.

Hey SD. I can't believe I missed another of your excellent threads.

No, we haven't done a bank run, and when I tell you why, perhaps it will add a little perspective, comparing your financial systems with ours.

First, for about the last 10 years, the two of us have worked on a cash basis. We have credit cards, and when we use them, it's to order goods from the U.S., and if we cannot pay them off, we don't order the stuff. I have a business checking account and the primary purpose of it is to have a mechanism for rendering checks written to me/business into cash.

We have a bit in a credit union, but NONE of our [personal] accounts are insured. We have a retirement account that is mandatory and government sponsored. We have never figured Social Security into our plans, and we don't figure our retirement into it. If it's there, good.

We've been investing in goods that can and do and will benefit us, and what small amount of cash we do keep is split between U.S. and Cayman dollars. We learned after Hurricane Ivan (when the primary banking computers were down) that we were wise to keep a small amount of cash aside, but most of all to prepare for those contingencies, to not be part of the feeding frenzy that rears its disorganized and fearful head in the aftermath of any disruption of normalcy.

The country's economy is closely tied to the U.S. economy -- most of our goods come from there as well, along with our primary infusion of dollars in the form of offshore banking and tourism. There are no taxes, but we do pay duties on imported goods, fuel, etc.

I'm of a mind that the simpler we live, the better, regardless of if TSHTF or not. I don't count on ours or your dollars being worth anything.

Our primary concern in the event of economic breakdown -- at least insofar as our own selfish needs are concerned -- is keeping cool and hydrated. The hydration part I've solved via a well and two cisterns I built which catch rainwater (4000 gallon capacity). We have a manual pump as well as DC/battery/solar charger arrays. The coolth? A 150 sq. ft. screen house, which I just finished and is going to be used for growing UV-delicate plants. It would be much cooler than the house to sleep in, given a situation where there was no power.

We won't do a run on the bank nor credit union, because that would only escalate the demise of buying power.

I think that was your point of doing this thread, to demonstrate that point. I've come to really appreciate the subtle way you present information, friend, and if that is the case, you've been very successful.

If we had money in U.S. banks, we wouldn't withdraw it either. That borrowing power and interest quotient is vital for the viability of banking systems, and thus whole economic systems. If the economy is toast, the dollar is as well, so nothing REALLY gained by a knee-jerk reaction, as far as I can see.

On the other hand, several pounds of dry goods, peanut butter, honey, hand tools, and...... toilet paper ..... seems a pretty smart bet.

Of course, as a public service, in the interest of science, I have perfected a system of rendering local fruits into a tasty wine. It requires no added sugar and utilizes ambient yeasts. I would liken it to a moderate-quality chardonnay. My Bride says it tastes like socks. She is clearly pallatallialy challenged.



[edit on 28-9-2008 by argentus]

reply to post by schrodingers dog

Don't Burn Your Bridges

Do the bank run, but leave the account open. Use your funds to open a new account at a good bank. One place to watch banks: Market Watch.

Now you can pay through the first account as neccesary by transfering funds from the new account.

Have two accounts, in different banks, just in case.

reply to post by Chakotay


Well I'm with PNC, which I found out is pretty solid.
Unless it's disinfo.
But I think I will take your advice.

Anyone reconsidering after todays events?

Btw, dow futures are trading at -700 already for tomorrow!

reply to post by schrodingers dog


I never liked Banks that much, so even if I loose the money in deposits I won't be to worried...
Besides, when my Bank collapses their will be no more Banks left in the world. I, however, prefer to invest in other commodities, and to always have enough cash to live on, for quite a good time, in a safe, in my "panic room"...

As for Banking, choose wisely: www.lcf-rothschild.lu...

Sorry for the free advertisement...

reply to post by LiquidCrystalz


Good choice, did you manage to reevaluate your mortgage in accordance with the devaluation of your property, if that is the case?

If there is a meltdown the $ will go the way of the Confederate currency, an historical curiosity to leave to your grandchildren...

I took a quarter of my cash out, a few weeks ago, and bought gold. It's locked in a bank vault. I hope they let me back in to get it some day.

Im paycheck to paycheck, dont have much in there. But I will say, this is the time to start buying gold and silver, go to Kitco and buy some, try to get physical gold and silver to keep, I did this a few years ago and a few months ago after unexpected expenses I went to a coin dealer and sold 30 ounces of silver for cold hard cash, no questions asked.
Also stock up on water and canned food, ammo and whatever else you can get a hold of, money wont be useful when it takes a wheel barrow full of dollars to buy a loaf of bread!
Plant vegetables!

We've had some developments since I asked the question in the OP.
The "bailout package was passed, we have record breaking unemployment for last month, etc...

And today the markets are tanking again, with the dow under 10,000, and the word depression is now being debated all over the news.

So I thought it was time to ask again:
Are you NOW considering a bank run?
Have you changed your mind since last week?
What will it take for you do actually do it?

On another thread someone posted
today.msnbc.msn.com...

Carmer says sell, sell, sell it is going another 20%.
I am sure some are hitting the banks.

Originally posted by BlackProjects
Carmer says sell, sell, sell it is going another 20%.
I am sure some are hitting the banks.

Well I don't have any stocks, but if I did I'm sure I wouldn't let Mr. Cramer guide me in my investments. Not so much because of his knowledge, I just don't enjoy yellers.

I agree with you that a lot more people are hitting their banks this week, or at least considering it.

There's a tipping point you know. A few stories in the msm and a view vids of people withdrawing money and we could have panic on our hands. And no Jimmy Stewart to calm us down.

I think I'm going to do it tomorrow and avoid the rush.

I really don't put anything past our government anymore...if the economic climate stays like this much longer (or gets worse) I'll will definately be pulling my funds out. I just hope by the time I get around to it, there will still be funds accessible to pull!!