Bank run in Greece.

Darren · #1 05/15/12, 04:29 PM

Almost a billion dollars was pulled out of Greek Banks on Monday.

Greek Depositors Withdrew $898 Million From Banks Monday - WSJ.com

Ambereyes · #2 05/15/12, 05:23 PM

Not surprising, look for this to happen in more of the countries in financial difficulties. I also think there will be quite a few leaving.

mekasmom · #3 05/15/12, 05:46 PM

I actually think that is a very wise move for the people. The banks will be looking out for themselves, and will probably freeze people's accounts. If I were in that nation, I would be spending every penny that was withdrawn on real "wealth" like food, toiletries, and daily need items rather than saving the money itself.

Forerunner · #4 05/15/12, 06:19 PM

Quote:

Originally Posted by mekasmom

I actually think that is a very wise move for the people. The banks will be looking out for themselves, and will probably freeze people's accounts. If I were in that nation, I would be spending every penny that was withdrawn on real "wealth" like food, toiletries, and daily need items rather than saving the money itself.

As should anyone living in this nation.

Coloneldad5 · #5 05/15/12, 07:14 PM

Yup, watch out for the "Bank Holiday" that should be coming soon in Greece. Then once Greece defaults and is kicked out of the EU watch for the next country to start having significant problems: Italy, Spain, Portugal. As these start toppling the EU and Euro will begin to falter. People will then start to pull out their money throughout the continent and you'll have a European wide "Bank Holiday" then watch out for the repercussions to hit our shores. May not be as bad here but it'll definitely impact us.

zant · #6 05/15/12, 08:24 PM

Quote:

Originally Posted by Forerunner

As should anyone living in this nation.

Agee 1000%...4 yrs ago we decided cash/tangible assets are way to go..keep enough in bank to pay bills-...now if those Missouri Reds and the bulls decide to head to Vegas-we're broke

7thswan · #7 05/16/12, 07:43 AM

Sounds like someone is trying to speed up the collapse.

mekasmom · #8 05/16/12, 10:47 AM

Quote:

Originally Posted by Forerunner

As should anyone living in this nation.

I agree with you on that.

Aintlifegrand · #9 05/16/12, 12:18 PM

It's out there today that the ECB stopped all monetary actions with Greek banks.. then it was later revised to say some banks.. which tells me that the banks they refused must have negative equity since that is a policy of the ECB... their collaspe is days away IMO...

Ozarks Tom · #10 05/16/12, 08:34 PM

A little know fact is that our banks can legally limit withdrawals, and delay transactions. This was put in place to prevent "runs".

OkieDavid · #11 05/17/12, 09:41 AM

Yep....Keep enough in the bank to pay bills and keep all "spare" change invested in the pantry. When the US Dollar collapses I would rather lose a few dollars in the bank and be caught "holding" a full pantry.