Archived material Access restricted Article
Rantburg

Today's Front Page   View All of Tue 12/06/2011 View Mon 12/05/2011 View Sun 12/04/2011 View Sat 12/03/2011 View Fri 12/02/2011 View Thu 12/01/2011 View Wed 11/30/2011
1
2011-12-06 Europe
Greeks emptying their bank accounts
Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.
Posted by Steve White 2011-12-06 17:05|| || Front Page|| [2 views ]  Top

#1 Only the stupid ones, the smart ones did it long ago.
Posted by g(r)omgoru 2011-12-06 17:12||   2011-12-06 17:12|| Front Page Top

#2 From the otherwise laughable OWS people, I noted something very serious when they tried one of their little didoes. A meager group of about 20 of them went to a major CITI branch, to as a group withdraw their savings.

Importantly, they were dressed and behaved politely when they did so, which was odd in itself.

But the reaction by the bank branch was anything but funny. I should say, gross overreaction. They not only mustered their bank security people, but also called the police. And then they locked their customers *in* the bank.

One woman standing outside looking in the window was actually strong armed *into* the bank so that she could be detained as well.

They were *not* arrested, but they were not free to leave, either. And then, under armed scrutiny they were allowed to withdraw their savings and were let out of the door one at a time.

The whole thing was videotaped by one of their confederates who was outside the bank but was not detained.

To me, this suggested a contingency plan against a bank run, and a plan with the full cooperation, and maybe coordination, with the local police authorities.

Now granted, congress recently changed the law so that banks may on their own declare a bank holiday, even for demand deposits, which were formerly sacrosanct. But detaining people, that is over the top, and very troubling.

Yet again, this seems a very good reason to slowly withdraw enough funds to keep as "mattress money", so that if there is a bank crisis, you will not be left destitute, and now, at the point of a gun.
Posted by Anonymoose 2011-12-06 17:33||   2011-12-06 17:33|| Front Page Top

#3 congress recently changed the law so that banks may on their own declare a bank holiday
Most of the pages I look at when I open a savings or checking account, have included that proviso for some years now. I'm not aware that it was a recent change.
History provides every American with a highly significant event: when the federal government confiscated private gold supplies (aka 'buying' them at a set rate, then resetting the rate at a disadvantage to the original owners), the robbery was declared lawful & constitutional by the US Supreme court.
Posted by Anguper Hupomosing9418 2011-12-06 18:38||   2011-12-06 18:38|| Front Page Top

#4 "By withdrawing money, they are forcing banks to scale back their lending -- and are inadvertently making the recession even worse."

You sure it's inadvertent?

/conspiracy theory
Posted by Barbara 2011-12-06 23:08||   2011-12-06 23:08|| Front Page Top

23:47 trailing wife
23:36 Grease Jith3343
23:29 gorb
23:28 gorb
23:16 Barbara
23:08 Barbara
22:17 Grease Jith3343
22:09 trailing wife
21:50 Grease Jith3343
21:43 Frank G
21:39 Frank G
20:46 JosephMendiola
20:45 swksvolFF
20:38 swksvolFF
20:30 Richard Aubrey
20:29 JosephMendiola
20:22 JosephMendiola
19:55 Nimble Spemble
19:48 Eohippus Phater7165
19:46 badanov
19:39 Eohippus Phater7165
19:34 SteveS
19:14 Deacon Blues
19:12 Iblis









Paypal:
Google
Search WWW Search rantburg.com