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The Mother Of All Bank Runs?

US Politics & Gov't  (tags: financial crisis, treasury, bailout, banks, global crisis, rescue plan, credit crisis )

- 3491 days ago -
It's plain that the current financial crisis is worsening in spite of--or perhaps because of--the Treasury rescue plan.

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Marion Y (322)
Friday October 3, 2008, 7:10 pm

[Excerpt]: The next step of this panic could be the mother of all bank runs, i.e. a run on the trillion dollar-plus of the cross-border short-term interbank liabilities of the U.S. banking and financial system, as foreign banks start to worry about the safety of their liquid exposures to U.S. financial institutions. A silent cross-border bank run has already started, as foreign banks are worried about the solvency of U.S. banks and are starting to reduce their exposure. And if this run accelerates--as it may now--a total meltdown of the U.S. financial system could occur.

. (0)
Saturday October 4, 2008, 6:21 am
This freight-train is trying to leave the tracks, and the financial crisis is creating at least a 7.0 Earthquake underneath! We are all passengers aboard this fated journey, therefore it is my obligation to react with a natural alert warning:

--------======HAAANG OOON!!!=======-------


Joan Mclaughlin (133)
Saturday October 4, 2008, 7:00 am
I am hanging on.But the straps are coming loose.It is time for all of us to put our differences aside and act as a country like our for fathers wanted for us.

Past Member (0)
Saturday October 4, 2008, 8:19 am
The 'last post!'!...

The graphic is very well selected (or created?) Marion... Onya!...

The current situation in Australia is that:...Funds are being dissolved (sold and removed from the Stock, multi-manipulated and legislatively sanctified and warped, Exchange) and deposited into personal bank accounts...The desired opposite of a 'Run on the banks'?...Screw the bankers, manipulators and investors (Bushies mates et al?) ...Suffer ye little children?...Why?...Government guaranteed!...I believe, in your US case?...To the tune of $US250,ooo? each?...Whatever?...Spread it about...Covered on all corners by the revised 'bailout bill'?.

'Give me a penny, a halfpenny will do, if you don't have a penny, then God bless you'...("I, I who have nothing, adore you" [Try YouTube?])...Simple?... Your comments (Beautiful as is your mind)...I have blushingly, yet to come to terms with, Marion...Reply forthcoming post 'party'...It is no party for me...Some things matter, some things don't!!!...You are obviously one that does...

Cannot defeat the 'bailout?...Try the Oz solution...Bushco has no access to your personal bank accounts (as yet) :)...

Contact Hans?...Failing, but do forward the question on if you can be bothered...Will attempt to post following minor thought...Keep well...D.

To anyone else reading this post...It is just a pigment of your imagination (colour?...Elephants breath!)...Pass to The next post (if any?) and be re-connected to reality :)

Hans L. (966) Saturday October 4, 2008, 4:47 am
Debbie i agree with you anyone who is following this will feel a brain damage from this election campaign! It does not matter who will win! This is all just a show! It looks like reality but its all just ab bad dream!

If OBAMA wins he will be the same puppet on a string as most governments before him.

But Mc Cain will win for the risks with OBAMA are to high! They might have to take him out of his office like they did before.....


David Buchan (104) Saturday October 4, 2008, 5:47 am
Brain damage? it is Hans and Debbie...

But what if, and a long 'what if'...(Maybe?)...The mainstreet miscontent leads to general disorder, a declaration of martial law, curfews etc, etc, ID cards, Dob in your neighbour (Heard it all before?...

Hitleresque?...And 'God' knows where from there...The awaiting, re-mobilised ex Iraq troops are called in to quell the impending riots?...(Wellllll ,is not this what they are there for?...Another four years + + + infinitum of Cheney (Bush, his mouth)...The October surprise??

"ZUM KOTZEN WIE DIE DEUTSCHEN SAGEN!"...A translation Mien Fuhrer?...My smattering of German? was derived from "War Picture Library Comics"...C. 1950?...:)

Is my mind wandering?...Down but not out...Cheers Hans!.. .Debbie and Marion (mid party, appologies...Crossed my tiny mind and had to post) XXXXXXOOOOO

I very much hope I am simply dreaming and WRONG?...

Yours, Heinekenelly impaired...D. :) but deadly serious!


. (0)
Saturday October 4, 2008, 9:34 am


Marion Y (322)
Saturday October 4, 2008, 10:13 am
Thanks for info, David and will follow through...Hang on could be an 8.0, Robert.

Here are a few rumors I'm still trying to find out if true. Spare me the 'this is propaganda, conspiracy theory' comments. We need to seriously consider everything at this point:

Chinese Police Units Begin Entering US To Protect Assets
Hawk's alert #1 - Oct. 2
Hawk's alert #2 - Oct. 3

Reality check...

Controlled Demolition: The PRE-PLANNED Financial/Economic 911 of 2008
Nearly 1 Million People Enroll in Federal Food Stamp Program 2Q08
Woman shoots self over foreclosed home
600,000 jobs lost - and counting, plus another 159,000 lost last month
Basic grocery items rise 10.5% from last year
Welcome to the final stages of the coup...
Queen asks UK Government for pay rise(I have absolutely no comment on this, David...what do you think?)
Betrayed by the Bailout: The Death of Democracy
Keep the WASHINGTON POST or the NEW YORK TIMES for when you can no longer afford toilet rolls

The hits, lies, distortions and unbelievable news keeps rolling in daily...

Past Member (0)
Saturday October 4, 2008, 12:12 pm
"THE Queen plans to ask the UK Government for more money to run her household after being hit by rising costs, officials say".

Well, Maid Marion?...Why ask me about British politics?...

I am but a simplistic adjunct of the Commonwealth...(The part of the map of the world...Once coloured pink and labeled 'The Commonwealth'!)...Not a lot of that any more...(Doesn't 'The Commonwealth' stir an extra beat in your heart?) Common - WEALTH...What is that?...Big daddy owns all wealth I thought (As does your George?)...

QE11 has her problems, like that of all of her her serfs'...Imagine the elevating medical costs of having Bonnie Prince Charlies' ears pinned back to make him look real...

Imagine the outrageously inflated (since her last raise) maintenence costs of BuckHouse etc, etc and beyond...And indeed, all serf denied occupied land...Must be huge!...Poor thing...

The Corgies' food costs , also, must have wildly been inflated also.

The guards currently holding Phillip down (In the 'Tower'?) to prevent a new outbreak of foot in mouth disease have, probably. also received a pay rise in the last few years and, God forbid, she must also have to 'reign' herself in to maintain that?

As her son recently married a horse, the vet fees are probably a drain?

The woman is but one of us?...She is as much entitled to an increase in her wage as you or I..."If I saw her on a bus, she would be one of us"?...

My case rests...

The Bushy bailout proceedes should immediately be re-directed to a worthy cause...Her Majesty The Queen!...Isn't it time you took responsibility for your neglect to provide my Queen (Oz is not a republic yet but don't hold your breath) with all due back taxes and all she deserves?...

Britain did not occupy your country with nothing to offer in return (other than the odd angry shot, here and there) ...Francis gave us tobacco...We gave America to you...Now that we (and you?) are fully aware that Smoking is bad for your health...We wish, no longer, harm on you...Get real and give your money to Liz...Not GWB!


Marion Y (322)
Saturday October 4, 2008, 12:44 pm
David, you ARE a classic in many ways, and this post is one of them. I'm holding my side from splitting after reading this, LOL!!!! Your input was requested because you have an uncanny knack of seeing through the b.s. as only an outsider can. You did not disappoint.

The lifestyle, Charles' ears, the Corgis' food, Phillips' foot in mouth disease and Charles' horse's vet bills must be driving the poor Queen batty trying to decide what will have to go. With all this juggling of the finances, it's a wonder she can carry out her duties.

Do you think $700B might tide the woman over? Arbitrarily speaking, mind you...

Of the two evils, I believe Liz would handle our money better. At least we would know we're being screwed up front and have some idea where our money is going.

Thanks for your delightful post!!!


Past Member (0)
Saturday October 4, 2008, 2:13 pm
Wellll... Maybe Marion...You are already being screwed up front with no end to the withdrawals to follow...And no guarantees either...Isn't that sweet?...There is no end!

Leave it to Liz...She has compassion (I think?...So do the Corgies) and will probably (after siphoning off a little for herself, as everyone that can will) put your money into the safekeeping of LLoyds of london...Which bank will crash next! :)

Louise L (48)
Saturday October 4, 2008, 2:15 pm
Now, David, I would hate to think that the Queen might run out of gold rimmed dishes to sup on...after all, it's what she's used to! As for the run on the banks, I would hope people would not panic to that extent. Thanks for the post, Marion, and forwarding so I could see David's "English" take on the situation.

Joycey B (750)
Saturday October 4, 2008, 2:22 pm
Thanks for this great post Marion and David. LoL.

. (0)
Saturday October 4, 2008, 3:24 pm
Somebody let me know, when you feel you've been 'rescued' by this plan.

I am waiting!


Marion Y (322)
Saturday October 4, 2008, 3:37 pm
Keep breathing, Robert. It may take 50 years or so...

Gravitas S (7)
Saturday October 4, 2008, 5:11 pm
Nouri is a true genius. But hey, let's not listen to a genius. Lets let Paulson, the jerk who helped create the mess fix it. After all, doesn't he deserve more than the millions he has already swindled!!!

. (0)
Saturday October 4, 2008, 7:41 pm
I'm screwed, Marion. Robert may be young enough to be able to wait 50 years but I'm 68 years old; ain't no way I'm going to be able to wait that long. This article only confirms what I have thought all along. If you have any wealth get it out of the big banks and put it in the small local banks where you will still have access to it or buy gold or silver and a BIG safe to put it in. This bailout package is not going to stop the crash and the people that earn their living in the stock market know it. Those people know money and the market is going down because they know the collapse is just around the corner.

Past Member (0)
Saturday October 4, 2008, 7:55 pm
Why bother Ralph?...There ain't no pockets in a shroud...Mine either!

. (0)
Saturday October 4, 2008, 9:00 pm
This is for the sake of those who have not heard before:

During the worst phase of The Great Depression, the United States Government outlawed all gold transactions, and many were jailed for trying to buy and sell goods. The moral of the story: People who had sacks of gold, starved! In order for the government to stabilize the 'new' U.S. currency, they had to control all gold transactions across the board. This could not be done with citizens hoarding and moving the public gold supply in unknown quarters. Control!

It's a wonderful feeling to know, that the FDIC guarantee will protect and hold your bank funds, while you go hungry waiting for it's safe return in 3-4 years, while the government tries to stabilize a financial crisis???


Carol W (119)
Sunday October 5, 2008, 3:23 pm

This should have been bottom up. It would require 49B to pay every single foreclosure and save homes, leaving 651 B to infrastructure, taxpayers, single-payer Health Care System, on and on.

49B to save every home in foreclosure.
How about a stimulus check of 500,000 for every US family (legal us family) to go shopping and put in the banks that need the money to loan???

KISS Keeping It Simple...
But,, complex is a great smoke-screen.

. (0)
Monday October 6, 2008, 6:52 pm
I'm not saying to trade with gold or silver. What I'm saying is invest in gold or silver like it were stocks and when you need money, chase it in at your local bank for the currency of the country you live in. You are not bypassing the central bank when you turn your gold of silver over to them for their worthless paper.

Deborah Hooper (59)
Wednesday October 8, 2008, 7:47 am
But the really good news is, to keep the dollar down, the fed cut interest rates. The stock market wasn't impressed either, currently down over $100.

I still don't remember bending over.

Marion Y (322)
Wednesday October 8, 2008, 10:23 am
Carol ~ That makes too much sense. The Feds don't want to be accused of help the constituents.

Ralph ~ This is just for you.I'm not encouraging or discouraging buying gold, but thought this information might be useful to you.

Deborah ~ None of us bent over...Our backs were broken. :(

Carol W (119)
Wednesday October 8, 2008, 10:49 pm
Thanks Marion

The difficulties ahead arise from the problem that business as usual cannot go on under conditions of a credit crunch, which has its roots in the distortions of the economy's capital structure. Thus, even if the financial market turmoil were to settle, there won't be the simple resumption of the old ways of doing business. The belief that, after the financial crisis is over, the real economy can reemerge unscathed, is probably the greatest error that many investors share with the policymakers.

As a result of the bailouts and the socialization of the mortgage agencies, the financial system is now fully infected with moral hazard. The disastrous effects of these government interventions will show up soon. The major task of bringing the capital structure in order is still ahead and more pain is in the waiting.

As long as governments and central banks continue to focus on the monetary symptoms of the "secondary depression" and continue to ignore the structural aspects of the "primary depression," they act like quacks. Ignorant of the lessons, the authorities will most likely continue with their disastrous policies.
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