What would you do if all banks closed their doors ???

Originally posted by wasco2
It's a stupid question, not gonna happen. US banks are privately owned for profit enterprises. To get them all to do the same thing at the same time would be like trying to herd cats.

careful !!

the Feds can close all the banks....

"Bank Holidays"...

look it up .....

it will scare you.

i think it has happened in the distant past ??

en.wikipedia.org...

The Emergency Banking Act (the official title of which was the Emergency Banking Relief Act) was an act of the United States Congress spearheaded by President Franklin D. Roosevelt during the Great Depression. It was passed on March 9, 1933. The act allowed a plan that would close down insolvent banks and reorganize and reopen those banks strong enough to survive.

(partial)
Title I

Section 1. To affirm any orders or regulations the President or Secretary of the Treasury had given since March 4, 1933.

Section 2. To give the President the ability to declare a national emergency and have absolute control over the national finances and foreign exchange of the United States in the event of such an emergency.

Section 3. To authorize the Secretary of the Treasury to order any individual or organization in the United States to deliver any gold that they possess or have custody of to the Treasury in return for "any other form of coin or currency coined or issued under the laws of the United States".

Section 4. To make it illegal for a bank to do business during a national emergency (per section 2) without the approval of the President.

www.prisonplanet.com...

Bank holidays are not without precedent in the United States. On March 5 1933, newly elected Franklin Roosevelt declared a “bank holiday” that lasted four days, during which he rammed through the Emergency Banking Act which granted FDR near dictatorial control over the dealings of banks. The Act also forced every citizen and business in the country to relinquish their gold in exchange for paper currency.

The 1933 bank holiday served as a face-saving mechanism for many financial institutions – thousands of them never reopened after the closure period had ended.

Obama CAN do this !!!!!

edit on Jun-11-2011 by xuenchen because: not

I

if tobama can do something,sooner or later he will...

I'd just go to the ATM. I can't remember the last time I walked inside a bank anyways.

reply to post by boondock-saint


Presupposing three more "not gonna happen"s doesn't make your original "not gonna happen" any more likely.

Originally posted by Hydroman
I'd just go to the ATM. I can't remember the last time I walked inside a bank anyways.

MAN,

read the posts above yours !!!!

the ATM's will go off at the same time !

and what about computer glitches / outages ???

they can turn EVERYTHING OFF any time they want to !!

i thought the Boy Scouts always said "Be Prepared" ?

en.wikipedia.org...

reply to post by boondock-saint



Checks would still be valuable as currancy. A piece of paper is as good as the word of the person behind it. If I didn't know the person I wouldn't take their check, If I did I would.

If I got paid by check I would use that check to pay other bills. (Get a check in return for the overage and so on and so on....)

Can it happen? Yes. What would trigger it? The repeal and change of currency after a severe market crash.

Usually they announce the current currency is now worth 2to1 or 1to3 or however they plan on changing it out. Then give a 2 week to 30 day period to turn in all old currency for new before it becomes worthless.

The best example of not closing the banks and trading to a new currency is Nazi Germany when they continued devaluation eventually required 5,10, 20,50 and 100 million mark notes to buy simple daily items.


Its done for two differing reasons.

1. Market crash or crashed economy. To stabilize things and provide an outlet to continue trade at a rate trade partners can agree with.

2. To kill off rouge political/subversive factions and organized crime groups, as they will not be able to turn in money they can't explain.

If all the banks closed in the U.S. due to crash of our current financial system, which in reality is not working too well, an internal system alternative to "money" would be established within a few weeks imo. I am guessing that it would be something along the lines of having "credits" in the new monetary system which would be used to buy and sell things as is the case now, basically a reset button.

Everything would be in the form of a debit card, and "cash" would not legally exist or be an option to use.

In order to make this "credits" system work, or be acceptable in society, an initial incentive would have to be offered to the general public. Something along the lines that every current bank account holder in the U S (who is either an American citizen or resident alien) would be given 100,000 credits as a baseline amount.

Those "credits" would be acceptable (by rule of law) for wages, and everything that money can buy or pay for now. If for example you have $15,000 owed on your car, 15,000 of your 100,000 in credits could be used to pay off that vehicle. If you are one of the lucky ones who had no debt, you could use the credits to buy things which would stimulate the economy. These "credits" could also be transferred to others, with conditions. There would be other conditions, (of course) for issuance of these cards, including a biometric national id card system which would be mandatory.

And for those without bank accounts, they would be again issued an initial debit type card with requirements and conditions, but with a lesser number of credits such as 10,000 - 25,000 credits since they had previously chosen not to participate in the banking system for a variety of reasons, but would obviously need some sort of medium for exchange.

And what about those who had a substantial or any amount of savings previously one might ask? Again, "credits" would have to be issued. If you had a lot of money before the system was instituted, you will simply have more "credits" than the ordinary Joe.

Could this happen? Answer is unknown......

I wouldn't much care.

1. I have developed a yearly financial plan that guarantees I meet goals monthly in the real of useful worldly goods for going on without the modern world. (Whenever it stops, at that point I have already secured the most important things, and am only collecting 'ad ins' every month) In the second year of this plan, I have a set of crash proof living items that can be handed down from my estate to go through a couple lifetimes.

2. I have extensively researched every occupation from the 1880s and the beginning of mechanization via steam and other sources. Back when all of the lights were gas or oil. I have carefully meshed the critical modern non electrical items with that time period, as well as stored much modern knowledge and am prepared for the banks, internet, electricity and most modern things to go away in the blink of an eye.

3. I have selected my new/old trade for the time when it all goes away, and I am collecting all of the needed equipment in storage. I am also taking advantage of all the modern state of the art equipment that doesn't require fuel or electricity, for said trade. I will be practicing the trade every weekend through this summer starting in July and will use the efforts to fund the free and clear purchase of land to continue the trade.


So let them all crash. I'm 90% there right now.

reply to post by boondock-saint


Why, do anything just live life for yourself and have fun. Is it not what alot of people want any ways to collasep the system, well they atleast talk like they do but in the end it better to be a slave and secure than to be free and unkowing.

When the banks close who cares about the politicians who cares about the banks and money let it die.

If the banks were to close I think I would do alright since I dont have or need a bank account, I already pay cash when I pay my bills BUT if they do close how am I supposed to cash my check from work??? Hmmmm something to wonder about. My boss could pay me cash I suppose. I'm just happy I opted out of direct deposit years ago.

Kick open the doors to the bank and ransack the joint!!!!

I wouldn't care to much, don't keep much of my money in la banka...

I'm prepped, I would yell game time!!! And begin my march NW...

At this point my preparation is virtually nonexistent for that type of scenario although I have family I could follow it would require me getting to them and depending on the state of things travel may not be an option. Although I have known about possible scenarios which should be prepared for, for years my income has been mediocre to the point where we have been able to do nothing but survive on a day to day basis (trying to pay bills). I have just become a Licensed Massage Therapist and am hoping to have enough time to build my business up and make a substantial windfall in order to BE ABLE TO PREPARE lol.

Otherwise when TSHTF I will probably be stealing a truck and running it through the back of a gun store in order to stock up, assuming we can't talk the people who own the store to give up the guns since money is almost totally unavailable, then I would arm myself to the teeth and grab a CATerpillar and run it through the back of the bank breaking the vault free from the building and commence breaking that thing open like an egg on a side walk. This is assuming of course that money is still being allowed to be used.

I would then go into a grocery store with said money and guns and use whatever they would take, devalued currency or force! ? And I would proceed to get everything I needed right then and there. If possible I would choose SAM's club since it's all bulk items. I would also grab some fishing gear....for the months and even years ahead. Then if there were any abandoned vehicles or any such thing I would choose an economical one that is quick but good on gas and I would take that and go to meet my family in the mountains, and no I'm not exaggerating my immediate family has some land about 10 hours north of me, one road in, one road out, about 1 mile up a mountain, it's actually like a 5-10 mile drive but is only literally 1 mile UP, and they literally have a trailer, a log cabin, 16 acres, a creek, a well, and about a 200ft x 100ft garden with more than enough food for all members of my immediate family. As well as canning stores and a few guns of their own.

If some of that didn't work out and I ended up getting shot at by police or citizens for trying to take things that weren't mine well then I'd just abandon those efforts and head for the hills so to speak......lol

This is exactly what "the big one" is that we've always talked about here. No money, no atms, banks closed, party stores, groceries...cant buy gas, food ,tickets..everyone starts stealing from your neighbors...and killing.

Watch "After Armaggedon" sometime on History channel. Roving gangs going house to house in your neighborhood, pulling dead people out of cars cause the cars have a little gas in them...turned away at the next town by armed guards protecting what they have left. Its a horrible and frightening scene.

What did you think we've been implying would happen all along? This is it. And the banks are just a small, small part. Jammed freeways, and stalled cars-gas-less, gangs throwing you out of your house and taking what they want.

The banks and electronics going? That will signal the 'ole SHTF scenario...and nowhere to run. Oh. And what would I do? Nothing. There would be nothing to do. Start walking anywhere but the cities or suburbs...and its a
long one....

Without $$-no stuff. Without stuff-you'd be useless. To yourself, your family and anyone else.

reply to post by boondock-saint


i'd be thrilled to know paying back the loan i just took out would be deferred until our bank again opened. being a married man, i haven't had to worry about money in Savings for years. it took a while but i've realized my wonderful wife would take ill if we had money in Savings. Heaven forbid.