Jim Willie: Rumor of Fed Preps for 1-Week Bank Holiday

Goatlady · Coal Joined: Oct 02, 2008 Posts: 8

There is a great deal of information on the Global Research site.

"Will the Crisis Bring Down the Global System? Go Get Your Dollars Out NOW! FAST!'
by; Adrian Salbuchi

He is from Argentina and gives a detailed account of the problems we may face in the near future...

Minus the 'Gog of Magog' stuff...
LOL!

We only have a webtv so I can't post an link, but would appreciate it if someone else could.

Smiles,
Goatlady

Jotapay · Intermediate Crude Joined: Jun 21, 2008 Posts: 642

Goatlady · Coal Joined: Oct 02, 2008 Posts: 8

Adrian Salbuchi being a economic analyst based in Argentina - and therefore living an economic meltdown - seems a good person to lend an ear to.

What does it hurt and at the moment there seems to be plenty of 'tin foil' to spare for my hat....

hey, thanks for sharing!

Smiles,
Goatlady

Delphis

That is odd, I think Alcoa was the only stock that closed up today...

Perhaps there is hope after all (LOL)

D.
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smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 6359

AirlinePilot

Dukat_Reloaded · Light Sweet Crude Joined: Jul 31, 2005 Posts: 1009

The debit & credit card will still work during a bank holiday, the problem is they don't have cash to pay out peoples deposits when they come to withdrawl cash from the bank, the banks can still allow their debit cards to function at the shops. I reckon the FED has a heap of printed currency in storage somewhere and they will give that to the banks. It will be hyperinflation.
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galacticsurfer · Heavy Crude Joined: Nov 09, 2005 Posts: 394

How many banks are there and how much cash do they have on hand if people start to panic?

We all know what has been happening in the South East and that "topping up" can cause shortages. There are X number of gas stations and so many people and so many cars with a potential need of so much gas total if everyone tops up their tanks.

The same discussion could take place with bank deposits. X thousand banks(ATMS), so many customers, and rationing to so much cash per customer, debit card payments included. Could this avoid a bank holiday. Cash is like real money. How much is in circulation?

For example 1 Trillion USD cash on hand/ 300 million people = 3300 USD per person. If nobody hordes and money velocity is high enough everybody will have enough cash to live on. This is a naive model which assumes no credit cards. People for example would not be allowed to write cheques or use debit cards above the rationed amount. This is what a depression lookslike, no more revolving credit or installment loans for furniture and cars as everything freezes up. Cash is all you have and you have ot pay cash for everything and cash is rationed like gold so that inflation immediately obvious if they start printing.
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"The horror, the horror"

topcat

I went to our little branch bank today to get a little WAM (walkin around money) and my teller only had 19 100 bills.
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"...the problem is today we have unknown unknowns."
Dominique Strauss-Kahn; IMF chief

oswald622 · Heavy Crude Joined: Aug 28, 2005 Posts: 171

when i first heard of this rumor, i was a little startled. and then i remembered the rumors about this time last fall, when martial law was all about around the corner, and i figured, eh, this current rumor is probably just part of a psychological operation. nothing to worry about.

but smallpoxgirl reminded me of an important point - sometimes psyops are test runs, and sometimes they're the real deal. martial law has been mentioned a couple times in congress in just the past week, and of course we all know about the groundwork which has quietly, patiently, and painstakingly been laid the last 8 years...

to sum, i think this is really it. it's coming soon.

burtonridr · Intermediate Crude Joined: Aug 03, 2007 Posts: 763

Captain_Meh · Heavy Crude Joined: Jun 09, 2008 Posts: 109

Say I buy the rumors of a bank holiday or anything else that would motivate me to cash out my money market, savings, and checking accounts. Honest question: what the hell do I do with that cash?

the48thronin

Revi · Fusion Joined: Apr 25, 2005 Posts: 3460 Location: Maine

Here's what happened to Argentina after they defaulted on their debt. They international repo men came in.

I know one of them. He's about halfway down the page.

http://www.aei.org/events/filter.,eventID.767/transcript.asp
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Deep in the mud and slime of things, even there, something sings.

deMolay · Intermediate Crude Joined: Sep 04, 2005 Posts: 894

Fox/CNBC Reporting A Bank Holiday Needed Next Week link
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