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JPMorgan Chase & Co. Message Board

  • bankerbuster bankerbuster May 27, 2012 9:40 AM Flag

    Why Bank Runs In USA?

    People will learn the hard way when they try to withdraw their own accounts. In time of national financial duress it will obviously be too freakin late.

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    • You wont see it in America.
      It has been realised (overseas)elswhere however.

      As made clear.

      Greece's debt crisis has plunged it into five straight years of economic contraction,
      thrown half of its young people out of work and led to a considerable depletion of funds in
      the country's banks.

      In the past two years, Greeks withdrew €72bn from bank accounts, leaving just €165bn behind.

      Since then, withdrawals have accelerated.

      Some of that money was wired abroad and some spent, but much of it was hidden in homes,
      either in cash or converted to gold.

      The unexpected bonanza is attracting foreign crime networks, including two from the former
      Soviet state Georgia which police dismantled in recent months, blaming them for
      300 burglaries.

      One officer told Reuters news agency that he had come across a man who had €30,000 in
      cash and gold stolen from a storage room next to his house, and an elderly woman had her
      life savings of €100,000 stolen from her apartment.

      A banker reported the case of a family on the island of Rhodes who recently visited their
      local branch, trying desperately to figure out how much their late father had withdrawn
      from his account before he died.

      Not trusting the bank, the old man had taken out his life savings. But he hadn't told anyone
      where he hid it. His children were searching everywhere, tearing down walls in the
      house trying to find it, but with no luck.

    • You act like this would not affect you. Are you stupid or are you posting from a secret island redoubt in the S. Pacific?

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