Latest topics
» How is RMN doing with all the ZAP crap?
Today at 5:15 pm by PurpleSkyz

» Flying cars closer to reality as test footage reveal vehicle which ANYONE can drive
Today at 4:39 pm by PurpleSkyz

» Wealthy Elite Reveal Plans To Leave Earth Before ‘Imminent’ Apocalypse
Today at 4:32 pm by PurpleSkyz

» The Catholic Church & The Abuse Of Ireland
Today at 4:25 pm by PurpleSkyz

» Cindy Kay Currier ~ Zimbabwe currency plus more
Today at 3:25 pm by PurpleSkyz

» Is JFK Jr. alive, and collaborating with Trump? Behind Q, is R?
Today at 3:12 pm by PurpleSkyz

»  Bank Trolls By Anna Von Reitz plus more
Today at 3:01 pm by PurpleSkyz

» Anonymous: HAS ANYONE ELSE MENTIONED THIS?" DO THEY KNOW WHAT'S COMING?"
Today at 12:11 pm by MartyM

» Organics are fully enabled on the planetary surface
Today at 11:24 am by PurpleSkyz

» Trumpy vs Queen
Today at 11:21 am by PurpleSkyz

» EGYPT: Archaeologist Find Ancient Mummification Workshop Near Cairo
Today at 11:10 am by PurpleSkyz

» NIBIRU News ~ **RED PLANET**IXTAPA-MEXICO plus MORE
Today at 1:15 am by PurpleSkyz

» Martian green flash observed on the Red Planet as Mars is approaching Earth for a 15-year close encounter on July 27th
Today at 1:09 am by PurpleSkyz

» What the Heck is Going on in the SKY??
Today at 12:51 am by PurpleSkyz

» UFO News ~ BRIGHT REDDISH ORANGE LIGHT FILMED OVER THE NETHERLANDS plus MORE
Today at 12:44 am by PurpleSkyz

» Victory for Assange!
Today at 12:30 am by PurpleSkyz

» Trump ambassador 'lobbied Britain on behalf of jailed right-wing activist Tommy Robinson'
Today at 12:29 am by PurpleSkyz

» Öræfajökull volcano showing clear signs of unrest, Iceland
Today at 12:21 am by PurpleSkyz

» Something just doesn't look right here - Normally PRISTINE beaches look rough
Today at 12:18 am by PurpleSkyz

» Linda Moulton Howe Dan Eugene Willis Part 1
Today at 12:16 am by PurpleSkyz

» Gaia TV = nefarious plans for you
Yesterday at 10:34 pm by Serena1

» Clif High speaks on Human Origins and our Aquatic Creators
Yesterday at 3:39 pm by PurpleSkyz


CLICK THE SUBSCRIBE BUTTON BELOW TO RECEIVE OUR DAILY NEWSLETTER

A 2ND EMAIL COMPLETES THE ACTIVATION PROCESS




CLICK THE PURPLE BUTTON TO VIEW OUR LATEST POSTS



You are not connected. Please login or register

Out Of Mind » THE INSANITY OF REALITY » CABAL AGENDA & WORLD DOMINATION » Greeks Rush the Banks; Lines Form at ATMs; Nearly $1 Billion Withdrawn in Past Week

Greeks Rush the Banks; Lines Form at ATMs; Nearly $1 Billion Withdrawn in Past Week

Go down  Message [Page 1 of 1]

godsfool713

avatar
http://www.shtfplan.com/headline-news/greeks-rush-the-banks-lines-form-at-atms-nearly-1-billion-withdrawn-in-past-week_05152012

Greeks Rush the Banks; Lines Form at ATMs; Nearly $1 Billion Withdrawn in Past Week

Without a government for the last eleven days, and amid mainstream discussion of a Euro Zone exit, the Greek people are realizing that the economic and political system as they know it is rapidly descending into chaos.

With massive jobless rates that have forced many into bartering to survive, and facing credit destruction across the entirety of the country that has led to shortages of critical supplies like life saving medicines, those with any money left at national banks are taking the desperate step of withdrawing as much of their savings as they can from a banking system on its last leg.

This is what it looks like when a populace plagued with uncertainty finally loses trust in the credibility of their country’s leadership and financial system.

Anxious Greeks have withdrawn as much as 700 million euros ($893 million) from the nation’s banks since the inconclusive May 6 election, President Karolos Papoulias told party leaders yesterday, according to a transcript of the meeting posted on the presidency’s website today. Papoulias said he got the information from the head of the Bank of Greece, the central bank, George Provopoulos, according to the transcript.

Via Zero Hedge

Greeks line up at ATM’s across the country to withdraw cash:





As has been said before, Greece is the canary in the coal mine.

The debt has piled up across Europe and the United States. Like the Greeks, Americans will soon hit a breaking point from which there will be no return. When it does finally happen you can be assured that your local ATM’s and banks will be inundated with panicked depositors attempting to take possession of as much of their money as possible.

But once the lines start forming it will be too late. Banks will have no choice but to limit withdrawals and close their doors (even to safe deposit box owners), because they will not have enough cash on hand to meet demand.

The choice is simple: Either prepare now and have physical assets in your possession, or join the crowds and hope the government will come up with a solution to the massive outflows that will ensue when the bank run begins.

Considering the madness we’ve seen when people can’t get their hands on a Black Friday discounted Xbox or flat screen TV, our guess is that any solution the government puts forth to deal with the anger and frustration of people who can’t access their money will involve something like this:

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum