Video clip is of KTLA’s weather man telling us what happened to him during the Indymac bank Run, Holiday Crisis. Try keeping as much cash out of the banks as possible. Buy a high quality safe to store you cash and other valuables. During a declared “Banking holiday” your funds will be frozen along with your credit cards, and ATM’s.
15 Comments Already
May 4th, 2010 @11:33 am
I agree with you Kim, I’m a little torn on whether I should believe these videos or just write them off as paranoia.
I guess I’ll find out tomorrow.
May 4th, 2010 @11:59 am
I can’t wait to see what will happen on August 25 after FDIC 2nd Q report.
Somebody please tell me.
I’m just curious.
What will happen if Federal Reserve just prints money to bail out FDIC to prevent bank runs?
May 4th, 2010 @12:01 pm
Good idea, yes. Better to prepare for the worst.
May 4th, 2010 @12:20 pm
i am from the uk, and i am stocking up on food and water, better to be safe then sorry.
May 4th, 2010 @12:48 pm
Credit Crunch 2 has started, with a prime mortgage and commercial mortgage crisis as the depression has spread and defaults soar. This will spread globally. We are more vulnerable in Ireland than in the UK as all are banks are insolvent. The next 3 weeks will be interesting.
May 4th, 2010 @1:39 pm
phew. Sounds a distinct posibility. I wonder what, if any, effect it would have here in the UK? I’m off to buy some more supplies today I think!
May 4th, 2010 @1:54 pm
This video states worst-case, I think. It is possible that we can neither withdraw cash nor see our balances during a bank holiday. The problem is, if it is national, not local, everything would come to a halt. So I doubt having 6-months worth of paper bills would help. If they stop paying workers, workers will cease to work, so no services or goods. Then we’d all be bartering. That would be a calamity scenario accompanied by social unrest and marches on capitols, I think.
May 4th, 2010 @2:42 pm
The FDIC is out of funds after the Colonial collapse last Friday. They will need more funds from the treasury. 350 Banks are on alert for failing. It only takes 1 instance of somebody not getting there deposit guaranteed to cause a bank run. There would be a bank holiday then.
May 4th, 2010 @3:39 pm
we will see the week of August 26th
May 4th, 2010 @3:57 pm
Is there a real chance that this will happen? What’s the hard evidence please.
May 4th, 2010 @4:01 pm
3.41 sunday pm markets opened overseas, dollar droppes to 78.78 first 5 minutes. This is like a death watch. feeling morbid about the wallet i dont have.
May 4th, 2010 @4:27 pm
good point about having small bills. I overlooked that. looks like it’s time to go break my $100’s into smaller denominations.
May 4th, 2010 @4:36 pm
OMG!! what happens to the people who don’t have lots of cash on them? I know plenty of people who barely have $20 at one time how would they survive?
May 4th, 2010 @5:20 pm
Darn there goes my idea to max out my cards during the bank holiday…. well i guess i will have to do it before it happens. thanks for the info!!
@ JB1528
Even if nothing happens tomorrow & Wed., Aug. 26, we cannot ignore derivatives.
Derivative bubble is 10 times the total wealth of whole earth.
When it bursts, value of currency will go down dramatically.
It’s going to burst, so you can prepare for it.
Even Warren Buffet, who’s been saying that “economy will get better soon,” wrote to New York Times last week that the U.S. could become Banana Republic because of its debt mountain.
Google: Derivative Bubble