33 votes

ALERT: Possible Bank Run, Need Info

OK so I don't want to cause a panic but I have to tell everyone about an experience I just had at Bank of America. I just went into my local branch to deposit a check and get some cash back. When processing the transaction the teller (who happened to be a bank manager) asks what size bills I'd prefer. I tell her large bills and she asks if it's alright if she gives me a bunch of $20'S instead, because the bank is very low on large bills.

I half jokingly say sure and ask if there's been a bank run or something. The lady looks me dead in the eyes and says "Not yet, but there will be". I double take and say "What!?". She then says "Yeah, I don't know when it's going to happen but it'll be soon". I then say, "What do you mean?". She says, "Trust me... have a nice day". She did not seem mentally unstable or nutty in any way. She wasn't joking and was being very hush hush about the whole thing. Why would a person who works for a bank even talk about a bank run? That's like someone who works for the fire department telling you that your house is about to burn down.

To top it off, I get back to my desk and see this headline on drudge:

"Americans flee banks for home safes..." (http://www.smartmoney.com/plan/banking/more-americans-keepin...)

I thought about it some more and I realize that the FDIC insures deposits... so it's not like we have to worry about our money "not being there" in one sense. Then it hit me, rapid currency devaluation would trigger a bank run because people would want to get their money out and convert it into hard commodities before it lost it's value.

Does anyone have more info on this? This has got me pretty rattled.




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Dollars? No thank you!

I for one have bought a safe, and am now holding a majority of my savings in silver. I bank at a credit union and haven't had any issues transferring money thus far.

I agree BRICS may have something to do with it

.

God grants liberty only to those who love it, and are always ready to guard and defend it. – Daniel Webster

What could she know lol

So all the bank managers across the country are keeping secret a vast conspiracy? What do you think, that bank tellers are sent off to the CFR to be trained into bank management and inducted by a secret bilderberg rite? She hears the same things we do.

That doesn't mean she is wrong of course. :)

We all know the BRICS are moving off the USD as their "reserve" currency and have already started valuing trade with other benchmarks. France's Hollande outed his support of it just days ago.

Her comment, any day now seems to ring true when the class one nations are lining up to unseat the dollar.

Buy what you need... buy what you want... buy what others will pay for ...buy enough to feed your security force.

FDIC?

Have you read the Creature from Jekyll Island? The FDIC isn't for little people like you and I... If there is any sort of systemic failure or bank run, the puny little FDIC won't be able to do a damn thing.

Delayed electronic transfers another sign?

About 2 weeks ago, I electronically transferred some money between accounts at different banks. They placed a "hold" on the money, so even though the money was debited and credited, the amount of the transfer was not immediately available. I called and asked why, etc. The bank said this was standard procedure, but I have never seen this happen before when I have done this. Odd. It made me wonder if the one bank did not have the money right away to send to the other bank...

Ann in Florida

I have seen this happening too at my bank

--Regions --though they are trying to hide it.

The few times I have asked for hundreds, the teller seems reluctant. Once last year, it was close to 5 pm and I wanted 3 hundred dollar bills for cash back. The teller said she was down to the last one! She ended up "finding" a couple more, so as not to make me nervous, I guess.

It seems to have gotten better over the last few months, but I think they are still rationing the large bills. I think a bank run is possible at any time. Cash is a problem for banks, and I think that's why there seems to be an attempt to move to a cashless society. Of course, this is only to fight fraud, counterfeiting, drug dealing, etc.

Ann in Florida

reedr3v's picture

I cannot imagine Obama/theFed would

jeopardize their status before the election. After, it's inevitable.

Just had a relative tell me they couldn't get 100's either from

Chase bank this time.

In a world of paper money,

In a world of paper money, how can there ever be another bank run? Just call up the Federal Reserve and have them deliver another truck. I know this sounds kind of silly, but I mean it sincerely.

No I think what may be happening here is the same thing

that precipitated the 1929 crash. The banks are removing currency from circulation.Money is going to get real "tight" in the next few months.

I think we've been set up like a bowling pin and are just starting to get wind of it.

November 6th 2012 I voted for Dr.Ron Paul
"We must remember, elections are short-term efforts. Revolutions are long-term projects." ~ Ron Paul

Go with a Credit Union

.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

I work for a large bank. That

I work for a large bank. That manager would know about a bank run as much as Mitt would know about govment cheese...

She is probably a RP supporter lol...

"Any fool can criticize, condemn and complain and most fools do." -Benjamin Franklin

Little Elm, Tx

Friend had a very similar experience at BOA today

He went to BOA to withdraw 3,000, and they told him he could only get 2,500 because they don't have very much cash. People cash paychecks bigger than 3K!

Bank of America Pulled the plug on McMillan, maker of the TAC 50

This know firearms manufacturer had been doing business with BoA for about 12 years I think when the manager showed up and said they would be cancelling all business. These are the makers of the Canadian sniper team long distance record rifle, TAC 50 .50 cal. BoA Ownership by the present govt. and it's anti-gun politic was given as motivation. Remember, this is the BoA that got $45billion in TAARP money.

This is their homepage
http://www.mcmfamily.com/

You can follow the story on their Facebook page
https://www.facebook.com/McMillanGroupInternational

Also covered on Fox Business
http://video.foxbusiness.com/v/1618048543001/can-mcmillian-g...

Now it's about the Constitution and the fight to defend it.

What INSTITUTION to put it in? Are you kidding?

Man, haven't you figured out yet that your money is safer with you, hidden where only you know where it is?

There is no "safe" institution; if it isn't lost in an MF Global style taking, the IRS takes it, or the Feds take it some other way.

And in case of bank failure, the FDIC is an empty shell,nothing to count on.

Institutions are "irresponsible third parties" when it comes to your money. In fact, money in a bank is not YOUR money, it is actually THEIR money, and you are their CREDITOR.

I know all that - it will first go in my safe,

then the decision: I know where/how I will buy physical gold and silver (local/cash) but I think we are still in a pull back in both. The bank I may put it in is the Bank of North Dakota, it is owned by the state of ND and backed by the state not the fed res

Backed by the "state" means the taxpayers.

What if the taxpayers are all in the same boat?

When it comes to my money, I trust no one but myself to keep it safe and secure.

In short, when a collapse happens - if it isn't in your hands, you don't have it.

I went to Chase today to get out all of the money

in one account and they can't give it to me until Tuesday! Said they only keep 10k in the bank.

When I get this big chuck o cash out, I'm not sure which institute I will put it in, but certainly it is none of Chases business and they would know where it went if I electronically transfered it. I'll then go in the next couple of days and get the max of 5K/day and close the account.

I am glad for your post because it got me off my fanny and at least got some of my $$ out of one of the big banks.

you may want to invest instead

Gold
Silver
Lead

Just a guess but it could be

Just a guess but it could be because of the $100 they were having trouble printing. The machines were getting all screwed up and they had to get rid of a bunch so they probably lost a lot making bills that they had to throw out. So, again a guess, they may not have made as many 100s lately because of it.

Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution

"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT

There was a thread here on DP last week...

that included a link to a couple economics articles, in which they were calling for the total collapse of Europe in May or June of THIS YEAR!!! Should that happen, banks like B of A that own $300B or so of French debt or Italian debt are gonna get creamed...and then the domino effect will take down the remainder of American banks.

------------------
BC
Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry

Oh, what a tangled web they

Oh, what a tangled web they wove in Bretton Woods

Couldn't happen to a nicer set ot thieves at B of A

....it's the nationawide lawsuit of home loan servicers and they are going to get creamed.

SequoiaTrees4RonPaul

SteveMT's picture

Hmmm: Spanish, Italian Banks Running Low on cash?

There seems to be something happening, but there always seems to be!
Best to always keep some of your cash at home these days. No way to know when the end will arrive.
http://www.valuewalk.com/2012/05/spanish-italian-banks-runni...
Spanish, Italian Banks Running Low on Reserves
May 2, 2012
By Matt Rego

A few months back, the European Central Bank starting opening a line of credit for European banks in an attempt to avoid any bank failures. Banks in the ailing Italy and Spain took some of the money from the ECB and are reportedly running out of those reserves.

Italian banks have spent 46.4% of the funds that they had received from the ECB, while Spanish banks have used up 42.3% of their capital. In terms of being able to use the reserves to buy government bonds, Spain only has 1.6 months left if the buying continues at the same rate while Italy has under a month.

Spanish and Italian banks have been buying government bonds hand over fist since they received the funds from the central bank and now a loan which was intended to last for quite some time, will have ran out by summer.

Of the 26 government bonds tracked by major organizations such as Bloomberg, Spanish bonds were the worst performing with a loss of 1.8% while Italian bonds were second worse with a loss of 1.3%.

Short Version

I think the FED has thought of this and they have massive amounts of 20s and 50 printed ready to give out. They are however having problems with the 100s.

I think this did happen in 2008. I only saw new crisp sequential 20s for about a year, I did not see an old 20 bill until about 2010.

This year I have seen a lot more 50s (crisp new sequential)

I'd love to see a run...

At least with the horrible B of A--they won't do business with anyone that's in the firearms industry--for political reasons.

If you support the 2nd Amendment, NEVER do business with B of A!!!

For though you think you know the thing, you have no certainty, until you try. -Sophocles

I don't know if this has

I don't know if this has anything to do with it but found this article from Jan. 2012 on Bank of America."Bank of America Prepares Emergency Plans at Fed Behest, May Need to Amputate on Geographic Basis"

http://www.nakedcapitalism.com/2012/01/bank-of-america-prepa...

Is this connected to the recent serving of liens, I wonder?

There were apparently liens served on all the central banks, their member banks, the Bank of International Settlements and their directors and shareholders. The liens are claims against these banks in the amount of trillions of dollars.

These refer to the theft of gold deposited after WWI with the Federal Reserve System and its owners in the City of London. i.e. the Rothschild group, who control all the central banks served in this action.

If this is for real and it may well be then this will transform these primaries and make the election of Dr. Paul a near certainty, God willing.

Here is the link that details the summary of these actions and a record of the actual liens served. These will be I believe the basis of the mass arrests that have been mentioned here at the beginning of April.

http://divinecosmos.com/start-here/davids-blog/1051-g7banks

It was my understanding that this was to be the year of Awakening and this would take place in every realm. Perhaps these events are associated with this. Certainly it is worth keeping an eye on.

"Jesus answered them: 'Truly, truly, I say to you, everyone who commits sin is a slave to sin. The slave does not remain in the house forever; the son remains forever. So if the Son sets you free, you will be free indeed.'" (John 8:34-36)

I just saw a promotion where

I just saw a promotion where BoA will give a free $100 if you bank with them and set up a direct deposit within 90 days.

seems like that would keep cash flow into deposits.

I thought immediately... they must be hurting for cash. I wonder if there is anything to this...

they've been running these

they've been running these for YEARS so this isn't related, they're set up so you must keep your money with them for 6 months or you either don't get the money or they take it back, that part is a little hazy