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How to survive a bank run?

Discussions about the economic and financial ramifications of PEAK OIL

Re: How to survive a bank run?

Unread postby Ferretlover » Thu 17 Jan 2008, 13:18:55

"How to survive a bank run?"

Don't leave your uncommitted cash in the bank.
"Open the gates of hell!" ~Morgan Freeman's character in the movie, Olympus Has Fallen.
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Re: How to survive a bank run?

Unread postby finvik » Mon 25 Aug 2008, 09:22:21

yeah its been long since we heard that a bank closed down. for many-many years we have trusted them. just imagine if they close down what will happen to us, where we'll go, whom we'll trust????
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Re: How to survive a bank run?

Unread postby patience » Mon 25 Aug 2008, 12:12:21

The last generation that went through bank failures had a low opinion of banks as long as they lived. That generation had to die off before they could find a new batch of suckers.
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Re: How to survive a bank run?

Unread postby MrBill » Tue 26 Aug 2008, 02:30:49

$this->bbcode_second_pass_quote('patience', 'T')he last generation that went through bank failures had a low opinion of banks as long as they lived. That generation had to die off before they could find a new batch of suckers.



My local banker may not be my best friend, but he is a trusted advisor. Banks are in the business to lend money. If I am going to invest my money using leverage I want a second and third opinion of the risks and possible implications. Therefore, my other trusted advisors are my tax accountant and my lawyer. They are not my enemies. They are my allies.
The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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Re: How to survive a bank run?

Unread postby Iaato » Wed 17 Sep 2008, 19:07:56

Bump-WaMu Bank Runs.

$this->bbcode_second_pass_quote('', '"')The queue to get into Washington Mutual's large Santa Monica branch on Wilshire Boulevard started forming half an hour before the bank opened yesterday, writes Matthew Garrahan in Los Angeles. The anxious faces of those in the line highlighted the uncertainty now surrounding its future.

Washington Mutual has been beset by rumours it would be the next retail bank to fail following the collapse of California-based IndyMac earlier in the summer.

But Monday night's cut of its credit rating to "junk" status was enough to persuade many of those queuing yesterday to get their money out of the bank.

"As soon as they downgraded it I decided to come and was here at 7am," said Lewanne Elwes, an artist manager. "I can't go on waking up in the middle of the night all worried after watching the news . . . I'm tired of this.""


FT-WAMU Runs
“Paper money eventually returns to its intrinsic value ---- zero.” --Voltaire
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