Is a run on American Banks in progress? You be the judge

hello everyone.

After reading the excellent post on how the Bank con exposed on MSNBC!, I suddenly realized that with the publication of that 'NEWS' item - which IMHO even though exposes the truth as it is, inevitably will be creating a panic and ultimately a run on the Banks... Monday might be too late to try to get some cash, as I envisioned yesterday, that there would be a run by the masses on banks inevitably due to the fear mongering that that MSNBC article undoubtedly will cause amongst the sheeple, and the congregation of ignorance. this in turn will lock other people's money in place, placing it beyond reach, and thus suffer an unstoppable loss.

Today was the day to withdraw, I told myself. So I went to my regular U.S. Bank and explained to them my request. The branch manager then took my request and then started in on how great and insoveable U.S. BanCorp was, and yada yada, and how great his trust in it's CEO was yoda yoda and sought to give me every reason why I should keep my money in the bank, where it's safe. Needless to say, I strongly asserted that I wished for cash and not a check.

That's when he informed me that they didn't have the cash on hand currently because for some odd reason, as they put it, people have been requesting large amounts of money, and they were Whiped out cash wise, and had more on order.

Was I literally WOWED.... and I told him "you see, you already have been having a run occur on this bank, you just admitted that within the last two days you've experienced an increase in monetary withdrawals! Well," he said," that's because the district manager would be fined five hundred dollars for having in his possession within the bank an excess in cash that has been told should be elsewhere to invest.

Then he goes on about how all accounts are FDIC insured and I had no need to worry myself over fear mongering . I then told him, that while that may be true, but if, and most likely when, what assurances did his most revered CEO have in liu of a failed American dollar if it suddenly collapses? He couldn't give me a straight answer at that point. I then just told him about that MSNBC video, which he told me he didn't know about. etc etc (what a load of crap).

Upon continuing the conversation this man could find no flaws in my reasoning, after I put it to him that ultimatly, as an individual who has already been exposed to the diabolical system as it exists, if America were to lose it's economy tonight , what assets of value could he possibly utilize as a form of bartered payment would U.S. Bank provide as a form of tangible value against the money I had in it under their trust ?

He then relayed to me about how stable U.S. Bank is, and about his trust and confidence in its CEO, which - as a matter of fact, "even the FDIC has approached us for loans to offset thier debts, that's how solid U.S. Bank is."

I just stared at him with my mouth open, and asked him if he realised what he just told me. Then without missing a beat I told him," you just relayed to my attention the fact that the FDIC is now so insolvant that they'e now asking private business for loans. Your precious FDIC doesn't have the cash needed to fullfill the obligations they made claim to as an insurer, and how could he in two breaths say one thing about it and then practically assure me of something that in reality no longer has any form of power or position to insure, to argue for the keeping of my money in his bank?

He couldn't at that point answer that question, almost like he never thought of it that way....

I then bid him good day, and went to another U.S. Bank, who interestingly ... LIKE THE OTHER U.S. BANK iD JUST COME FROM, HAD AN INFLUX OF CASH DEMANDS AS WELL, AND DIDN'T HAVE THE CASH NEEDED TO COMPLETE MY REQUEST...

2 U.S. Banks, with no money.

I went to a third U.S. bank, where I discovered they did have the physical assets of cash on hand. My request finally was going to be processed. As I stood there waiting for them to formulate the transaction, in cash, a man walked up to the window next to me, and excitedly wondered if they could allow him to withdraw around 7 to 8 thousand from his account...

BINGO....

The Manager, a lady, then revealed to him THAT THEY DIDN'T HAVE ENOUGH CASH ASSETS ON HAND TO FULLFILL HIS REQUEST.... He immediately left.

As I went about physically counting the money, the phone at the manager's office rang, the manager anwered and then asked "how much are we talking about here?", "15,000? No, I'm afraid we don't have that much on hand currently...."

BINGO.....

I picked up my envelope and walked away from that bank, realising that my meager transaction whiped them out - 3 BANKS... NO CASH ASSETS!

It's my experienced summation folks, that a run on remaining American Banks is in progress. I ran to the bank, and succeeded, but barely - 5 minutes later that guy that came in would have ggotten the money, instead of me.

I can only speculate what Monday is going to bring.... Thank God I got there when I did.

Great Post S&F trust me i will be making trips to atm's to get much as i can..i will be checking this thread hourly..great job

reply to post by DarkspARCS


i must say i am rarely one to ask for evidence, but, without disclosing too much personal info, is there a way you could verify this? for example, receipt? i don't know what other form of evidence there could be though. very interesting without evidence though.

thank you

My bank is closed today due to it being converted to PNC Bank. I hope they are open on Monday.

Citibank require 7 days notice to withdraw funds

“Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.”

This has been news for some time now I assumed most people would already know a out this.

Google: citibank 7 day withdrawal.


I also find it interesting that Ted Turner said on talkshoe radio that there was to be a run on the banks in the third week of April.

Personally, I don't think that there will be a run on the banks on Monday.

While there is still some instability within the banking system (the FDIC still has more banks to close this year), it would take a major calamitous event along with major news coverage before a major bank run.

And, if we did have a major bank run, I assure you that the authorities would have a bank holiday to stop the hysteria.

If ever there was a time in recent history when a bank run was possible, the events of September 11th or even Y2K would have been the time when this was most likely. In both instances, bank runs did not occur.

Most Americans realize that their cash is best stored away safely at a local bank.

Here's my question: Once you withdraw the cash, to the tune of several thousand dollars, where on earth are you going to be able to store it safely without being robbed? Your home? No. In a safe? No. You'll open the safe when a robber forces you to open the safe. Outside in the woods? No. Under your mattress? No.

[edit on 10-4-2010 by CookieMonster09]

lmao

I said it a month ago:
go get your money fore they shut the door.

I did my run on the bank 6 weeks ago.
Have just enough change left in there to say
I have an account and thats it.

Yes I do believe there is a run on the banks
and when people find out there is no money
for them, all hell is gonna break loose.

Good luck on Monday folks

Originally posted by CookieMonster09
If ever there was a time in recent history when a bank run was possible, the events of September 11th or even Y2K would have been the time when this was most likely.

I seriously doubt that !!!
Neither of those events had anything to
do with the loss of people's money.

If there isn't there should be.

Convert your cash and savings now before it is too late and you find yourselves holding worthless paper that isn't even good for wiping.

Imagine, having to fill a shopping cart with cash to buy a loaf of bread.

Imagine going to your bank to find that all accounts have been "temporarily frozen"

Imagine swiping your debit card to find the same.

Don't be a fool.... They know that "change" is coming.

Pray it doesn't happen.

We don't have any money to make a run on. THis is not 1930. We are all in debt. You can't withdraw what you don't have.

Too funny.

I started a post on this very thing on March 31 after a friend in Illinois was declined for a withdrawl that he had made several times before...with the exception of boondock-saint no one saw anything unusual.


My ATS Thread

Without notice his ATM limit was reduced to $500 from $1000 and he was told there was nothing anyone could do to reverse that decision.

Now it's not just ATM's limits on cash, but the actual branches themselves.

I'd wager that no mention of this will hit the MSM, but I'd have to withdraw money to physically make the bet.

[edit on 10-4-2010 by [davinci]]

So, are you going to be using that cash to buy food/water/guns since if the dollar collapses it will be worthless anyway? If the dollar collapses all hell will break loose and I am fairly certain that you will have lots to worry about besides cash at that point.

Here's my question: Once you withdraw the cash, to the tune of several thousand dollars, where on earth are you going to be able to store it safely without being robbed? Your home? No. In a safe? No. You'll open the safe when a robber forces you to open the safe. Outside in the woods? No. Under your mattress? No.

I keep my cash in a money belt, underneath my Glock 22, which I've been wearing a lot lately. In Nevada, you can wear your gun on your hip, as long as it's exposed.

If you see some 6'2'' 250 lb man walking around looking angry, with a Glock 22 on his hip, are you going to Rob him?

If I know that you're hungry enough and stupid enough to try to rob me, do you think I'm about to go somewhere to get robbed?

Finally, if you can get past the blue nose, bully bread, American PitBull that LOVES patrolling my (lol..HIS) house - go ahead and rob me, you're worthy.

That's quite amazing as a story. I think a lot is true in what this man was saying to you, but you have to realize that if the banking system does collapse then even cash will be worthless. The problems in the economy can be fixed but it is more a matter of will than execution.

The worry is not so much about people taking money out of the banks in the US, but about foreign deposits in US banks (much larger) that could be withdrawn from the system and leave the banks, the FDIC, and the federal government with no cash.

I think a legislation has been put in place to prevent that by setting a withdrawal limit to 500k per day on those accounts, but I would assume people having several hundred millions dollars have means to bypass this by creating phony transactions.

The MSNBC video is strange because the situation has been known for quite a while and everybody has been happy to blame wall street, which is only a puppet in the game orchestrated by the financial masterminds of the country, but will the rest of the MSM catch up?

The banks won't go down from US customers withdrawing cash don't worry. If they don't have cash it is because they have intentionally relocated cash available at the desk in branches to short term stock market investments to gamble some more...

I can confirm issues with a debit/ATM card.

I live on the road, and my card was inactive for three weeks last month, I had to spend hours on the phone with my bank, until ultimately it was blamed on a computer error and my new card was unusable... Then they told me that I'd have to come into my local branch when I returned home to get a new card.

I got my money, ALL of it.... Too much weirdness for me.

I still have to keep my account open, but only keep a minimum in it, I cleaned out my savings. My pay is directly deposited into my checking account and as soon as I can I get it out.

As another poster said, paper money could end up worthless so do as I did convert as much of your cash as you can.

Originally posted by CookieMonster09
Personally, I don't think that there will be a run on the banks on Monday.

While there is still some instability within the banking system (the FDIC still has more banks to close this year), it would take a major calamitous event along with major news coverage before a major bank run.

And, if we did have a major bank run, I assure you that the authorities would have a bank holiday to stop the hysteria.

If ever there was a time in recent history when a bank run was possible, the events of September 11th or even Y2K would have been the time when this was most likely. In both instances, bank runs did not occur.

Most Americans realize that their cash is best stored away safely at a local bank.

Here's my question: Once you withdraw the cash, to the tune of several thousand dollars, where on earth are you going to be able to store it safely without being robbed? Your home? No. In a safe? No. You'll open the safe when a robber forces you to open the safe. Outside in the woods? No. Under your mattress? No.

[edit on 10-4-2010 by CookieMonster09]

You sound like a banker...hmmmm....

There's plenty o' people that stash some cash.

Jason

Originally posted by Pimpish
So, are you going to be using that cash to buy food/water/guns since if the dollar collapses it will be worthless anyway? If the dollar collapses all hell will break loose and I am fairly certain that you will have lots to worry about besides cash at that point.

First, I've managed to actually secure the cash. now, it will go to - yes - the purchase of munitions, a sizable amount of durable consumables, as well as the remainder will be invested in a commodity of my choice, that will carry it's value over into the coming new currency system.

my security apparatus has been mutually secured via the neighbor system, as I reside amongst a wealth of noble minded folks with hearts that reveal concern - who I find worthy enough to produce a communal effort with to provide a force of protective barrier against invasion - either foreign and / or domestic.

Mainly for security reasons most banks keep only as much cash on hand to meet average daily demands for cash.

That’s why you see armored cars come and go on a daily basis.

Most small bank branches believe it or not dole out less than 12,000.00 a day in cash.

On days that business clients are issuing payroll checks they increase their cash orders to mirror those average payrolls.

So on Thursday a non-payroll day, you might find the average bank has less than 30,000.00 cash on hand.

On Friday a Payroll Day it will have shipped in that morning an adequate amount to cover their client’s payrolls, whether that’s 70,000.00, 100,000.00, 1,000,000.00 or 3,000,000.00.

They basically run Bank Branches no different than McDonald’s Branches; they have enough cash on hand to cover the normal daily trends their clientele create.

This has been going on a very long time. Decades and decades, depending on the overnight loan rates that the Fed is offering and even competitive banks, they may even opt to borrow cash for a big transaction day, as opposed to shipping it from their own main branch and vaults.

None of this has to do with whether panic might cause a run on the banks, but most bank branches do keep cash on hand at a minimum to minimize robbery losses.

Had you gone yesterday on a payroll day, you likely would have found all three branches could have easily met your cash demands.

Saturday is one of the slowest days for in-bank business, and they simply weren’t anticipating large withdrawals of the extraordinary kind to have the adequate cash on hand to meet those exceptional and unanticipated demands.

Once again that does not mean their won’t be a run on the banks as you fear, but typically most banks who anticipate that there might be a run, order more cash on hand, to display to all the customers in the bank, that they have adequate cash on hand to meet large withdrawals as a psychological measure to encourage other people not to withdraw their money.

They likely weren’t aware of the MSNBC piece that was done, or anticipated it would lead to many customers wanting to withdraw large amounts.

Chances are if they thought it could lead to people starting what would be a run, they would have shipped in extra cash, as that’s the main method of stopping a run, having lots of cash on hand.

Personally I don’t think MSNBC has enough of a market share to cause a panic, and I don’t see a run on the banks happening.

It is after all just paper and the Fed can print it at will. The banks that have been allowed to fail are in fact part of a scheme for the dominant banks to take over the less dominant banks and gain more market share.

Because the system is itself based on fraud, it’s not actually possible for it to fail, unless that too is part of a fraud being committed.

What the banks are really after is your tangible assets, like land, homes, cars, jewelry, precious metals, that you have borrowed against. Cash itself is worthless to them, its just paper and script. It exists in fact just as means to leverage those physical assets, which they can then reposes and take ownership of, when financial manipulation forces you to default on your loans.

The whole banking process is, basically stealing physical property, by financing it’s acquisition for the individual with worthless paper, and then waiting to impose conditions where the borrower will default, so you in fact subsidize the banks purchase of those physical assets with your own labor.

Nice scam!

Try not to worry, these guys are professionals.

Originally posted by CookieMonster09

Here's my question: Once you withdraw the cash, to the tune of several thousand dollars, where on earth are you going to be able to store it safely without being robbed? Your home? No. In a safe? No. You'll open the safe when a robber forces you to open the safe. Outside in the woods? No. Under your mattress? No.
[edit on 10-4-2010 by CookieMonster09]

There is some very interesting information on this to be found online. Usually the people who come up with creative stash methods are stashing precious metals. That takes care of the problem of devaluation it TSHTF and the dollar is worthless. (Notice that precious metals are rising, even though the MSM reports the economy is better. This must mean enough people aren't buying the happy news.)

Just remember it's a three dimensional world out there to hide things in. One can find a variety of containers, from high quality purchased from chemical supply stores, metal pipes, capped off and sprayed in camouflage colors, glass jars with plastic lids, saved from the grocery, to heat sealed Food Saver type bags in a jar stashed lovingly in the koi pond, or thrown under rusting, weed covered junk. The possibilities are endless.

I'm just keeping enough in the bank to pay the bills. My savings have been taken out. Later, if I look like a paranoid nut, so be it. Better safe than sorry.

What the banks are really after is your tangible assets, like land, homes, cars, jewelry, precious metals, that you have borrowed against. Cash itself is worthless to them, its just paper and script. It exists in fact just as means to leverage those physical assets, which they can then reposes and take ownership of, when financial manipulation forces you to default on your loans.

I agreed with just about everything you said except the statements above. Banks hate to repossess anything. They don't want to be in the repo business, believe me. They don't like to repo cars, houses, etc. - It's too expensive. All they want is the amount due - the interest owed.

Most of the assets held as collateral are worthless by the time the bank comes to repossess the item. Houses are worth 50% of what they were 5 years ago. Cars repossessed are trashed. You get the idea. Banks don't want the collateral, believe me.