bank run »

China Has A Little Bank Run

Is China starting to implode financially as well? If so, what will this mean for the U.S.? From the FT: Hundreds of depositors have raced to pull their cash from a small rural bank in eastern China, forcing local officials to take emergency measures to calm the panic after the bank run began to spread. …But it has also been a localised event, contained to one farming county where lightly regulated credit co-operatives and loan guarantee companies failed this year after mismanaging funds. …With the panic reaching other branches of the bank,...

Is your money safe at the bank? An economist says ‘no’ and withdraws his

Editor’s note: While this is a very long article, we had to take it in its entirety as it has disappeared from many sources. It seems the powers that be keep removing it. Why? Terry Burnham, former Harvard economics professor, author of “Mean Genes” and“Mean Markets and Lizard Brains,” provocative poster on this page and long-timecritic of the Federal Reserve, argues that the Fed’s efforts to strengthen America’s banks have perversely weakened them.  Last week I had over $1,000,000 in a checking account at Bank of America....

Wall Street Adviser: Stock Up On Guns and Ammo For The Collapse

It’s not everyday you hear a Wall Street adviser telling America to start packing heat in preparation for whats coming, but that’s exactly what David John Marotta says you should be doing. Marotta says that at all times you should have a “bug-out bag” that includes food, a gun and ammo to help stay alive. This bag should have you prepared for at least 72 hours.

Cyprus Is An Alarm Clock For The EU & America

The tiny island of Cyprus is demonstrating that government money is nothing more than the people’s money and to make the point, we are now watching as the European Union is set to seize private citizen’s bank accounts to pay off debt that is a result of bad monetary policy and unchecked spending.

CONFISCATION: Panicked Europeans Rush ATMs as Leaders Move To Seize Funds Directly From Bank Account Holders

Over the last few years political and financial leaders in Europe and the United States have implemented policies, regulations and bailouts costing global taxpayers trillions of dollars with the promise that these measures would lead to economic growth and recovery. What happened in Europe today is yet further proof that nothing they’ve done has fixed the underlying fundamental issues surrounding the events that led to the crash of 2008.

A New Run On The Banks? Spaniards Pulling Cash Out At Record Rates

Spanish consumers are pulling their cash out of banks at record levels, according to figures released on Tuesday. Private sector deposits fell by nearly 5 percent in July to €1.509, the Telegraph reported, citing European Central Bank data, as public confidence in the banking system reached all-time lows amid a worsening economic situation.

Warning: Get Your Money Out: “All Legal Bank Deposit Protections Are Now Officially Gone”

Former money manager Ann Barnhardt, who in November of 2011 made the decision to cease operations of her brokerage firm and return funds to her customers citing “systemic” problems within the entire financial industry, has issued a new warning about the stability of US banks and the safety of individual deposit accounts.