Bank Holiday in our future?

[barnaby33]

This is too alarming to contemplate.

Why? While by no means the most likely outcome, in my opinion, what about this scenario is to alarming to contemplate? You mean you might have to look up from your own concerns for a bit and focus on other more concrete issues like basic necessities? A house in PB would no longer be your prime economic focus? I’d love to hear why this is so alarming.

I don’t see a bank holiday as likely, we don’t have a gold backed currency, and the world has not shifted away from US demand enough. That will take years, unless of course we actually go through with Obamacare. If that happens, then that alarming scenario, whether too alarming or not, is front and center.

Josh

[SD Realtor]

I was talking to a friend tonite and he was presupposing that there has indeed been a large quantity of dollars put into overseas banks basically for swaps.

That is, we stuff them with dollars so that they will continue to purchase bonds and the auctions.

[SD Realtor]

I was talking to a friend tonite and he was presupposing that there has indeed been a large quantity of dollars put into overseas banks basically for swaps.

That is, we stuff them with dollars so that they will continue to purchase bonds and the auctions.

[SD Realtor]

I was talking to a friend tonite and he was presupposing that there has indeed been a large quantity of dollars put into overseas banks basically for swaps.

That is, we stuff them with dollars so that they will continue to purchase bonds and the auctions.

[SD Realtor]

I was talking to a friend tonite and he was presupposing that there has indeed been a large quantity of dollars put into overseas banks basically for swaps.

That is, we stuff them with dollars so that they will continue to purchase bonds and the auctions.

[SD Realtor]

I was talking to a friend tonite and he was presupposing that there has indeed been a large quantity of dollars put into overseas banks basically for swaps.

That is, we stuff them with dollars so that they will continue to purchase bonds and the auctions.

[paramount]

As of March 13, 1933 FDIC insurance did exist, and as to why a bank holiday might be needed I’m not sure but I would suspect a run on the banks might be a cause.

I agree, a bank holiday seems unlikely to happen, and yet apparently this HSL (Letter) has been fairly accurate in forecasting according to some sources including WSJ Marketwatch (who named it Letter of the Year in 2008).

This was the headline:

By Peter Brimelow, MarketWatch

NEW YORK (MarketWatch) — The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style “bank holiday.” But it’s surprisingly sanguine about stocks — in the (very) short term.

[paramount]

As of March 13, 1933 FDIC insurance did exist, and as to why a bank holiday might be needed I’m not sure but I would suspect a run on the banks might be a cause.

I agree, a bank holiday seems unlikely to happen, and yet apparently this HSL (Letter) has been fairly accurate in forecasting according to some sources including WSJ Marketwatch (who named it Letter of the Year in 2008).

This was the headline:

By Peter Brimelow, MarketWatch

NEW YORK (MarketWatch) — The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style “bank holiday.” But it’s surprisingly sanguine about stocks — in the (very) short term.

[paramount]

As of March 13, 1933 FDIC insurance did exist, and as to why a bank holiday might be needed I’m not sure but I would suspect a run on the banks might be a cause.

I agree, a bank holiday seems unlikely to happen, and yet apparently this HSL (Letter) has been fairly accurate in forecasting according to some sources including WSJ Marketwatch (who named it Letter of the Year in 2008).

This was the headline:

By Peter Brimelow, MarketWatch

NEW YORK (MarketWatch) — The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style “bank holiday.” But it’s surprisingly sanguine about stocks — in the (very) short term.

[paramount]

As of March 13, 1933 FDIC insurance did exist, and as to why a bank holiday might be needed I’m not sure but I would suspect a run on the banks might be a cause.

I agree, a bank holiday seems unlikely to happen, and yet apparently this HSL (Letter) has been fairly accurate in forecasting according to some sources including WSJ Marketwatch (who named it Letter of the Year in 2008).

This was the headline:

By Peter Brimelow, MarketWatch

NEW YORK (MarketWatch) — The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style “bank holiday.” But it’s surprisingly sanguine about stocks — in the (very) short term.

[paramount]

As of March 13, 1933 FDIC insurance did exist, and as to why a bank holiday might be needed I’m not sure but I would suspect a run on the banks might be a cause.

I agree, a bank holiday seems unlikely to happen, and yet apparently this HSL (Letter) has been fairly accurate in forecasting according to some sources including WSJ Marketwatch (who named it Letter of the Year in 2008).

This was the headline:

By Peter Brimelow, MarketWatch

NEW YORK (MarketWatch) — The top-performing letter that predicted the Crash of 2008 now predicts a confiscatory Franklin D. Roosevelt-style “bank holiday.” But it’s surprisingly sanguine about stocks — in the (very) short term.

[4plexowner]

“In sum, the insiders want more bank & system control, fewer banks & a lower US$. A bank holiday would suit all their needs.”

that’s how HSL summed up the reasons for a bank holiday

a bank holiday allows for wholesale changes to the existing system while limiting the ability of people to withdraw their assets from the system – when the banks reopen the people are presented with the new system

look at Argentina as the most recent example of bank holidays – while the banks were closed the people were limited to $300/month withdrawals from their bank accounts – the national currency was devalued about 70% during the bank holidays

a recent article put forth the idea that the PTB looked at two possibilities, inflation and deflation, and then implemented those possibilities in the real world – Zimbabwe got the inflation and Argentina got the deflation – the objective of these exercises would be to evaluate which scenario worked out better for the ruling elite – which scenario allowed the PTB to remain in control with their assets intact [and if you believe that there aren’t people on this planet who think and operate at this level, then you are very naive IMO]

George Ure at www. urbansurvival.com posits the following timeframe:
– Aug 22 – after the markets close a larger than ‘usual’ list of banks is announced for closure (‘usual’ seems to be 4 or 5 per week)
– large scale derivatives failure becomes public (remember there are still over a quadrillion dollars worth of mostly worthless derivatives to be unwound – they are still valued at the ‘mark-to-model’ level and FASB is making noises about requiring all assets to use ‘mark-to-market’ valuations)
– FDIC has a ‘disaster week’ – we can’t say that the FDIC will ‘fail’ since we can be assured that it will remain funded with printing press money until the cows come home – however, a widespread perception that the FDIC has failed is another thing – remember that CONfidence is the key ingredient in a fiat banking/currency system
– mid-Sept – bank holidays

what might we expect to see after the banks are re-opened?
– US dollar devalued by 50% or more – devalued against what is the interesting question – gold? new international currency from the IMF?
– 1000 small banks are closed / taken over by the big banks
– Federal Reserve has new and sweeping powers over the banking system

[4plexowner]

“In sum, the insiders want more bank & system control, fewer banks & a lower US$. A bank holiday would suit all their needs.”

that’s how HSL summed up the reasons for a bank holiday

a bank holiday allows for wholesale changes to the existing system while limiting the ability of people to withdraw their assets from the system – when the banks reopen the people are presented with the new system

look at Argentina as the most recent example of bank holidays – while the banks were closed the people were limited to $300/month withdrawals from their bank accounts – the national currency was devalued about 70% during the bank holidays

a recent article put forth the idea that the PTB looked at two possibilities, inflation and deflation, and then implemented those possibilities in the real world – Zimbabwe got the inflation and Argentina got the deflation – the objective of these exercises would be to evaluate which scenario worked out better for the ruling elite – which scenario allowed the PTB to remain in control with their assets intact [and if you believe that there aren’t people on this planet who think and operate at this level, then you are very naive IMO]

George Ure at www. urbansurvival.com posits the following timeframe:
– Aug 22 – after the markets close a larger than ‘usual’ list of banks is announced for closure (‘usual’ seems to be 4 or 5 per week)
– large scale derivatives failure becomes public (remember there are still over a quadrillion dollars worth of mostly worthless derivatives to be unwound – they are still valued at the ‘mark-to-model’ level and FASB is making noises about requiring all assets to use ‘mark-to-market’ valuations)
– FDIC has a ‘disaster week’ – we can’t say that the FDIC will ‘fail’ since we can be assured that it will remain funded with printing press money until the cows come home – however, a widespread perception that the FDIC has failed is another thing – remember that CONfidence is the key ingredient in a fiat banking/currency system
– mid-Sept – bank holidays

what might we expect to see after the banks are re-opened?
– US dollar devalued by 50% or more – devalued against what is the interesting question – gold? new international currency from the IMF?
– 1000 small banks are closed / taken over by the big banks
– Federal Reserve has new and sweeping powers over the banking system

[4plexowner]

“In sum, the insiders want more bank & system control, fewer banks & a lower US$. A bank holiday would suit all their needs.”

that’s how HSL summed up the reasons for a bank holiday

a bank holiday allows for wholesale changes to the existing system while limiting the ability of people to withdraw their assets from the system – when the banks reopen the people are presented with the new system

look at Argentina as the most recent example of bank holidays – while the banks were closed the people were limited to $300/month withdrawals from their bank accounts – the national currency was devalued about 70% during the bank holidays

a recent article put forth the idea that the PTB looked at two possibilities, inflation and deflation, and then implemented those possibilities in the real world – Zimbabwe got the inflation and Argentina got the deflation – the objective of these exercises would be to evaluate which scenario worked out better for the ruling elite – which scenario allowed the PTB to remain in control with their assets intact [and if you believe that there aren’t people on this planet who think and operate at this level, then you are very naive IMO]

George Ure at www. urbansurvival.com posits the following timeframe:
– Aug 22 – after the markets close a larger than ‘usual’ list of banks is announced for closure (‘usual’ seems to be 4 or 5 per week)
– large scale derivatives failure becomes public (remember there are still over a quadrillion dollars worth of mostly worthless derivatives to be unwound – they are still valued at the ‘mark-to-model’ level and FASB is making noises about requiring all assets to use ‘mark-to-market’ valuations)
– FDIC has a ‘disaster week’ – we can’t say that the FDIC will ‘fail’ since we can be assured that it will remain funded with printing press money until the cows come home – however, a widespread perception that the FDIC has failed is another thing – remember that CONfidence is the key ingredient in a fiat banking/currency system
– mid-Sept – bank holidays

what might we expect to see after the banks are re-opened?
– US dollar devalued by 50% or more – devalued against what is the interesting question – gold? new international currency from the IMF?
– 1000 small banks are closed / taken over by the big banks
– Federal Reserve has new and sweeping powers over the banking system

[4plexowner]

“In sum, the insiders want more bank & system control, fewer banks & a lower US$. A bank holiday would suit all their needs.”

that’s how HSL summed up the reasons for a bank holiday

a bank holiday allows for wholesale changes to the existing system while limiting the ability of people to withdraw their assets from the system – when the banks reopen the people are presented with the new system

look at Argentina as the most recent example of bank holidays – while the banks were closed the people were limited to $300/month withdrawals from their bank accounts – the national currency was devalued about 70% during the bank holidays

a recent article put forth the idea that the PTB looked at two possibilities, inflation and deflation, and then implemented those possibilities in the real world – Zimbabwe got the inflation and Argentina got the deflation – the objective of these exercises would be to evaluate which scenario worked out better for the ruling elite – which scenario allowed the PTB to remain in control with their assets intact [and if you believe that there aren’t people on this planet who think and operate at this level, then you are very naive IMO]

George Ure at www. urbansurvival.com posits the following timeframe:
– Aug 22 – after the markets close a larger than ‘usual’ list of banks is announced for closure (‘usual’ seems to be 4 or 5 per week)
– large scale derivatives failure becomes public (remember there are still over a quadrillion dollars worth of mostly worthless derivatives to be unwound – they are still valued at the ‘mark-to-model’ level and FASB is making noises about requiring all assets to use ‘mark-to-market’ valuations)
– FDIC has a ‘disaster week’ – we can’t say that the FDIC will ‘fail’ since we can be assured that it will remain funded with printing press money until the cows come home – however, a widespread perception that the FDIC has failed is another thing – remember that CONfidence is the key ingredient in a fiat banking/currency system
– mid-Sept – bank holidays

what might we expect to see after the banks are re-opened?
– US dollar devalued by 50% or more – devalued against what is the interesting question – gold? new international currency from the IMF?
– 1000 small banks are closed / taken over by the big banks
– Federal Reserve has new and sweeping powers over the banking system

[Author]

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