Quote:
Originally Posted by gibonos
I seriously doubt that everyone would walk away and patiently wait for their money, people would be furious, maybe they wouldn't be bank runs anymore, more like bank downs or bank burns 
gibonos |
If you want to see the logical progression for this, look at what is happening with Greece right now and Argentina in the '90s.
The Greeks have pulled 8 billion Euros from banks as the banks increase their financial control measures:
http://www.zerohedge.com/article/gre...ops+to+zero%29
Also in the 1990's, Argentina had a few bouts of hyperinflation. When this happened, the banks made limits on how much money people could withdraw at any one time. Many people went totally bust and some lost as much as 50% - 75% because their money was tied up in the bank while it was being devalued. If you check Adrian Salduchi's Youtube videos, you can get some good details on this.
My point is that we are in a chess game right now that is about to end. Our side (the Western countries including the US and Europe) have a remaining King and a few pawns. As the game progresses, the West can only play defense which is a well defined progression as evidenced by what has already happened in economic history.
--sjkted