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Banks to go under on December 7th ?

TOPIC: Banks to go under on December 7th ?

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#64562

Banks to go under on December 7th ? 13 Years, 6 Months ago

www.facebook.com/event.php?eid=137793666269183&ref=mf

This campaign is spreading fast around Europe and the USA.

It may be prudent to take your money out if you are worried about leverage in the banking system.

Even if only 10% of people withdraw at once it would cause a run on all banks on 7 December and basically the whole system would collapse because the money does not really exist on paper to support even 1% of bank withdrawals.

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#64565

Prunella Minge

Re:Banks to go under on December 7th ? 13 Years, 6 Months ago
Cut down on the coffee, BR! Enter code here Please note: although no board code and smiley buttons are shown, they are still usable.

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#64567

veritas

Re:Banks to go under on December 7th ? 13 Years, 6 Months ago

BR wrote:
www.facebook.com/event.php?eid=137793666269183&ref=mf

This campaign is spreading fast around Europe and the USA.

It may be prudent to take your money out if you are worried about leverage in the banking system.

Even if only 10% of people withdraw at once it would cause a run on all banks on 7 December and basically the whole system would collapse because the money does not really exist on paper to support even 1% of bank withdrawals.

I believe you. If I had any money in a bank I'd take it out and put in under the mattress with the rest.

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