And so it begins

[41mag]

This is exactly one of the reason I tell my wife to not put money in the bank.. GET YOUR CASH OUT

I don’t trust them. Just because they have a building and all, a biz license, etc., doesn’t mean they ain’t crooks !

 

[rugerguy]

I don’t trust them. Just because they have a building and all, a biz license, etc., doesn’t mean they ain’t crooks !

oh they ARE crooks! no doubt!

 

[Torn]

Give a man a gun he can rob a bank.
Give a man a bank and he can rob everyone.

 

[rightway1974]

The fed will bail them all out.

 

[rightway1974]

If people make a run on the banks and withdraw their money, it should get the ball rolling for a great downturn.

 

[Bear44]

Great thread! Let's encourage everyone to go get their money out of the banks and create a huge run that will destroy the banking system and the economy. That way any money you do manage to get out of the bank or have stuffed in the mattress really will be worthless. Fantastic idea!

 

[Gixxer]

Great thread! Let's encourage everyone to go get their money out of the banks and create a huge run that will destroy the banking system and the economy. That way any money you do manage to get out of the bank or have stuffed in the mattress really will be worthless. Fantastic idea!

If history is anything to go by, even though the value of the cash pulled out would be significantly diminished in such an event, is not cash in hand better than your cash the bank says they don't have?

FDIC insures it, true, but how many of us would like to be told our money doesn't exist until the following week like those folks that had money in OP's link?

I'm not advocating a run on the banks like it's 1929, but still. Bird in hand is worth a dollar in the bush?

 

[Bear44]

If history is anything to go by, even though the value of the cash pulled out would be significantly diminished in such an event, is not cash in hand better than your cash the bank says they don't have?

FDIC insures it, true, but how many of us would like to be told our money doesn't exist until the following week like those folks that had money in OP's link?

I'm not advocating a run on the banks like it's 1929, but still. Bird in hand is worth a dollar in the bush?

It all happens due to panicking account holders rushing to the bank to draw out all their money. Do you really think that encouraging that panic is a good idea? 1929 and the Great Depression would never have happened if not for people panicking.

A run on the banks is exactly what this thread is encouraging.

 

[bigt61]

Get your cash out folks

Let it crash

 

[Gixxer]

It all happens due to panicking account holders rushing to the bank to draw out all their money. Do you really think that encouraging that panic is a good idea? 1929 and the Great Depression would never have happened if not for people panicking.

A run on the banks is exactly what this thread is encouraging.

Like I said, that's not what I'm encouraging. I'm just saying the argument could be made that if something like that were to happen, would not the doofuses who contributed to the problem and have their money in-hand, regardless of it's lesser value, be in a better position than the non-panickers who can't access their money at all? Temporarily or otherwise?

If the past few years have taught us anything, though, if there is a potential panic to be made, people will do the same things every time while those of us that plan ahead sit back and watch. Or unfortunately still have to deal with the fallout of their poor planning and stupidity.

I didn't panic buy extra gasoline during that little debacle last year, but it sure was a pain in my rectum when I wanted to try and fill up at a pump.