Discussion in 'Financial Cents' started by CATO, Jul 13, 2011.
What An American Bank Run Would Look Like | zero hedge
What's even more illuminating is what I've read in the comments. Beyond the debates weither or not a bank run would occur I found this nugget of information written by a poster by the name of Cranky-Old-Geezer:
"A bank run is not going to happen because the treasury will just announce that all deposits in banks, money markets, and CD's will be backed by the full faith of the United States Treasury. That's the only thing that backs up paper currency as it is.
"Full faith and credit of the US Government" has to do with the government paying its debts.
It has nothing to do with the currency, which the US Treasury has no control over.
I don't foresee a bank run in America. If demand for physical currency suddenly skyrocketed, the Fed would declare a bank holiday, you can't get your money out, end of story.
The real threat is a dollar collapse, where the rest of the world suddenly loses confidence in the US dollar.
That's exactly what the growing CRIIPE alliance is quietly working on, taking the rest of the world away from the US dollar.
When (not if) that happens, OPEC nations will suddenly stop accepting US dollars for their oil.
Not even Iraq. America will be kicked out of Iraq (and Afganistan) instantly under threat of China / Russia / India / Iran / Pakistan nuclear attack.
Forget Brent crude too, Britian will join the alliance (along with the rest of Europe) and back away from America.
America won't be able to buy oil anymore, at any price. Bernokio can print all the currency he wants, it won't matter, America won't be able to buy oil for any amount of dollars, those dollars won't be accepted by OPEC.
Domestic oil production will be nationalized, fuel will be severely rationed. It won't matter how much gold and silver you have, you won't be able to buy fuel except perhaps on the black market, and it won't matter, the American economy will collapse into chaos quickly, you won't have a job to go to, and store shelves will be empty.
That's when the US dollar collapses and America collapses in a few days or weeks.
By the way, Israel will be hung out to dry. Sure they have nukes. But Israel would be turned to glass if they tried to use them, so Israel will back down and go along.
S-C-O. That's the most frightening three letters to America's (criminal) leaders now. They know what it means and they know America's time is almost up. That's why they're looting America fast as they can now. They know America doesn't have much time left."
I've never heard of the SCO. So I looked it up: Shanghai Cooperation Organisation - Wikipedia, the free encyclopedia
The result was rather enlightening. It seems the media never bothers to tell us about this stuff. I remember the US getting kicked out of the Uzbekistan airbases back in 2005. The media never said a thing about the cooperative, only blaming it on various other little nitpicking things that didn't really make sense.
Now it's starting to.
gunbunny, good find, scary find! That is probably the way it will go. Think of what might occur after that happens. I don't think it's possible to prep enough for this. Total chaos, violence, and starvation until the foreign troops arrive? But then with our southern border the way it is, a lot of them are probably already in place. Zero did promise us change.
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