Bank Holiday Rumors Swirl Amidst Currency Crisis

Cleaver

nearlynew wrote: »

Do you believe the "democrat" and "republican" politicians are different?

I don't. They're both full of liars and thieves.

nearlynew

Cleaver wrote: »

I don't. They're both full of liars and thieves.

.....Correct

1984ReturnsForReal_2

Graham_Devon wrote: »

Is there a bank holiday?

Every day is a Bank holiday

Masomnia

Cleaver wrote: »

I don't. They're both full of liars and thieves.

:rotfl:That really tickled me. Not sure why.

Generali

I'm not sure why QE would lead to a bank run. Surely it's the reverse. If people aren't going to want cash, why would they go to the bank to withdraw all their cash? It seems bizarre.

Hauptmann wrote: »

Your grasp of US politics is pretty sketchy, to say the least (why am I not surprised...LOL!). The last time the 'Southern' states were largely Democratic was in the time of President Lincoln, over 140 years ago. The American South has, for many many years, been largely Republican by some margin. The Northern states, especially the industrial/financial urban centres, have been largely Democratic.

Correct me if I'm wrong as I'm not strong on US history but I thought the Democrats lost The South when Johnson signed the Civil Rights Act into law in the 1960s. There is a famous quote from the time, "This will not only cost you the South it will cost you the election". Johnson won by a huge majority.

Clearly the Democrats aren't completely dead in the South. Clinton was from Arkansas which presumably counts as The South*






*I'm not being sarcastic, I'm genuinely not sure of what is and isn't The South given the placing of the mid West in the east and centre of the country!

sabretoothtigger

QE might bring doubts to the worth of a currency. I dont think people would doubt it because we dont print enough, if prices do go up 10% people will blame the shops or switch to lower quality products, etc
International bond holders are more likely to lose confidence because they measure more precisely and know the worth is dropping in their own currency so the alternatives start to appear better and they could sell the bonds/currency in increasing numbers so a kind of bank run I guess

I personally see a knock on increase to the worth of debt of 'pauper' nation countries like India or even maybe vietnam where their wealth or maybe just growth (to pay debt yield) is greater then usa ?
I would have to check that again but I think their growth or just general wealth is underrated vs their debt quality pricing (usa debt yields under 1% its overpriced)


Im not sure why a single date was given

US citizens will be prevented from withdrawing money or at least limited in the amount of the withdrawal they can make.

In Zimbabwe they did restrict cash machine withdrawals to slow down spending of money I guess. There was never any shortage of money just value and no bank holiday occurred there. They did shut down the stock market for producing inflation ie. prices rose
In Venezuela they also talk about this kind of thing, companies are seized for putting prices up
In 1970's usa Nixon also did something similar for a while to stop the capitalists from taking advantage of the people.


Its not completely ridiculous that we could see at least talk of similar moves where the fat cat producers of inflation and price rises have measures taken against them.
This will be a gradual, freely reported process not 1 day or a weekend


I think the 1930's usa closure of banks was mainly to rebase the fixed currency worth. Since we have no fixed worth now, theres no need to close or cease trading, every day the exchange rates adjust downwards back then they were not floating like now as far as I know

instead making classic end of empire 'plays' of foreign wars to secure assets and resources.

they havent done a great job of seizing iraqis oil. Just having it more available should lower the overall price.
Iraq has no opec restriction and has the world largest reserves

Afghanistan I dont see the wealth, local industry of worth is hand made guns and drugs not even that efficient

Loughton_Monkey

If Obama wanted all US banks to be in Chaos by November, surely he would have simply sold them all to Santander.

sabretoothtigger

:laugh: True but they would still be open just with useless customer service I guess.

In the middle of a stockmarket boom, Santander is one of the few stocks to fall pretty badly so maybe some think they do have finance problems. Most likely its misplaced fear that also favours usa as the most secure debt in the world

purch

Is there a bank holiday?

No.

The term 'Bank Holiday' is not used in the U.S.A.

Asheron

Cleaver wrote: »

I can't even take the slightest bit of notice of an financial article, which presumably wants to be taken seriously, that has this picture next to it:

lol that picture is funny