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Thread: Bank Holidays Coming: Get Ready For US Banks To Reduce Hours, Limit Withdrawals

  1. #1

    Bank Holidays Coming: Get Ready For US Banks To Reduce Hours, Limit Withdrawals

    While Europe twitches and waits for the other shoe to drop in the bank crisis, as usual Americans are sleeping through it. Despite the banking crises of the last five years, Americans are acting as if they never existed. Many look at the crisis in Europe as if it is happening on some distant planet in a galaxy far, far away.In fact, there have been many bank crises in the US and abroad. How can we forget the Wall Street Crash, the Housiing Crash, and the still bubbling Student Loan meltdown?
    The United States has a 250 year history of bank crises and panics, beginning with the 1763 crisis which began in Europe. As Wikipedia note, bank crises tend to spread, often far beyond national borders
    Bank Holidays Coming: Get Ready For US Banks To Reduce Hours, Limit Withdrawals | Alternative



  2. #2
    While Europe twitches and waits for the other shoe to drop in the bank crisis, as usual Americans are sleeping through it.
    That's silly. Americans are NOT sleeping, they're wide awake.*


    * (and focused like a laser beam on watching Honey Booboo, Snookie, Duck Dynesty, American Idol....).
    -- Do not meddle in the affairs of dragons, for you are crunchy and good with ketchup. --

  3. #3
    Most liberals are sleeping Rob.

  4. #4
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    I don't believe that there will be bank runs in the US. Most Americans don't having any savings as opposed to Europeans that horde cash. Americans also use a lot more credit cards and have less need for cash. Though the biggest difference is that the Federal Reserve can print money and bail banks out.

    More likely that the US could see a run om mutual funds in the event of a stock market crash and the funds 'breaking the buck'.

  5. Quote Originally Posted by bogart View Post
    I don't believe that there will be bank runs in the US. Most Americans don't having any savings as opposed to Europeans that horde cash. Americans also use a lot more credit cards and have less need for cash. Though the biggest difference is that the Federal Reserve can print money and bail banks out.

    More likely that the US could see a run om mutual funds in the event of a stock market crash and the funds 'breaking the buck'.

    Peter Schiff had an interesting write up on Cyprus, equating the actions our Federal Reserve takes with the theft going on in Cyprus. His analysis seems flawed insofar as it ignores the fact that, unlike Cyprus, we are capable of manufacturing everything we consume, so every time we devalue our currency (print money), we stimulate our manufacturing sector. Another important difference is that devalued currency takes from everyone holding the currency, not just those holding their cash in a certain bank.

    Another interesting side effect to notice, for those foreign US bashing idiots that go on and on about how the US is past its prime. Watching foreign economies collapse as we take a pause from consumption and devalue our currency serves as a stark reminder that we are still the planets #1 consumer, #1 economy, and that the US dollar is still the world's reserve currency. What we do economically here has the power to send many if not most foreign nations back to the stone age. Perhaps after this all shakes out and we get a real leader running the country, we will once again bathe in the economic afterglow of being the worlds sole economic super power, much like we did in the decades after WWII. We just need to hasten China's inevitable collapse/recession along a bit.

  6. #6
    Cypriots are allowed to only pull out $313 from their accounts.
    They are also severely limited to how much cash they can take out of the country, how much they can spend outside the country via debit cards and credit cards!

    So, that means people, we are not safe just because we use debit and credit cards and keep little money in the bank.
    And there is still some talk in the buck ofama regime, including democrat senators and representatives, to limit how much Americans can keep in off short bank accounts.
    And how much can be sent out of the country.

    Now US companies (from Apple to Google to Wal Mart) keep their offshore earnings offshore.
    Because the tax rate is like 35% on moving that money back home to the USA.
    Buck ofama and his regime will not lower that rate to bring in all that money!

  7. #7
    Quote Originally Posted by iowadawg View Post
    Now US companies (from Apple to Google to Wal Mart) keep their offshore earnings offshore.
    Because the tax rate is like 35% on moving that money back home to the USA.
    What a great irony, these multi national corporations are liberals and most of them gave millions to President Obama for his compaign!

    Do as i say not as i do...

  8. Quote Originally Posted by Natural Elements View Post
    What a great irony, these multi national corporations are liberals and most of them gave millions to President Obama for his compaign!

    Do as i say not as i do...
    From my experience, most corporations are apolitical, feeding instead whatever political candidate or party will feed their coffers. I suppose they don't differ much from all those people on welfare from that perspective. Perhaps it is just that the Democratic party is (slightly) more corrupt.

  9. #9
    Quote Originally Posted by obamanation View Post
    From my experience, most corporations are apolitical, feeding instead whatever political candidate or party will feed their coffers. I suppose they don't differ much from all those people on welfare from that perspective. Perhaps it is just that the Democratic party is (slightly) more corrupt.
    Are you sure about that?

    Corporations taking a political stance: Smart move or liability?
    Corporations taking a political stance: Smart move or liability? Spartan Daily

  10. Quote Originally Posted by Natural Elements View Post
    Are you sure about that?

    Corporations taking a political stance: Smart move or liability?
    Corporations taking a political stance: Smart move or liability? � Spartan Daily
    What I am sure of is that corporations, like individuals, work on a basis of self interest. In fact, for profit corporations are obligated to operate in their own self interest as a fiduciary duty to their share holders. The give away from your article was the following quote:
    Walmart, the largest seller of guns and ammunition in the country, was instrumental in pushing for the adoption of the “Stand Your Ground” law across the country, according to New York Public Advocate.
    For the largest gun retailer in the US to advocate for laws that perpetuate gun ownership is operating in their own self interest, pure and simple.

    Mind you, there are examples where that is not necessarily the case, such as the Chic-fil-a CEO openly speaking about his views on gay marriage, though I'm not sure he did that in his official capacity. I suspect his statements actually got him more business than it lost him, so perhaps we can call it a marketing tactic. Hell, look at Current TV, peddling green and liberal issues, only to sell to oil interests in the middle east. Makes one wonder if there is such a thing as a principled stand in the corporate world. Principles are for (a few) individuals. Corporations are about making money.

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