Run on the Banks

[Duddy]

I watched last night and today as markets around the world dropped bigtime. With all the talk about the recession starting hardcore this week, I wondering if I should bother withdrawing all my money from the bank tomorrow morning while the US markets crash?

 

[DaveSimmons]

Only if you take the money and buy lots of guns and ammo.

 

[edro]

Originally posted by: DaveSimmons
Only if you take the money and buy lots of guns and ammo.

... and canned food and lamp oil...

 

[ElFenix]

Originally posted by: Duddy
I watched last night and today as markets around the world dropped bigtime. With all the talk about the recession starting hardcore this week, I wondering if I should bother withdrawing all my money from the bank tomorrow morning while the US markets crash?

why the hell would you do that?

 

[iamwiz82]

You certainly are acting the part of a Ron Paul supporter.

 

[K1052]

Originally posted by: edro

Originally posted by: DaveSimmons
Only if you take the money and buy lots of guns and ammo.

... and canned food and lamp oil...

gold too, can't forget that

 

[Delita]

Originally posted by: Duddy
I watched last night and today as markets around the world dropped bigtime. With all the talk about the recession starting hardcore this week, I wondering if I should bother withdrawing all my money from the bank tomorrow morning while the US markets crash?

This doesn't make any sense at all

 

[QurazyQuisp]

While I don't think a recession is at all funny, I do find it funny how so many people were/are claiming that the US was/is losing it's economic influence on the world due to the falling dollar, yet you see economies all around the world go in to the crapper because there are fears that the US is going to have problems.

 

[iamwiz82]

Originally posted by: QurazyQuisp
While I don't think a recession is at all funny, I do find it funny how so many people were/are claiming that the US was/is losing it's economic influence on the world due to the falling dollar, yet you see economies all around the world go in to the crapper because there are fears that the US is going to have problems.

I was just thinking about this about 10 minutes ago when I read the story on CNN.

 

[Duddy]

I don't know if it makes sense or not, my studies are in Computer Science. I'm just asking, it was advice from my crazy as he'll uncle.

 

[K1052]

Originally posted by: iamwiz82

Originally posted by: QurazyQuisp
While I don't think a recession is at all funny, I do find it funny how so many people were/are claiming that the US was/is losing it's economic influence on the world due to the falling dollar, yet you see economies all around the world go in to the crapper because there are fears that the US is going to have problems.

I was just thinking about this about 10 minutes ago when I read the story on CNN.

Apparently you guys haven't spent enough time in P&N, according to half the kooks in there the US is on the cusp of becoming a 3rd world country that has almost no economic power because they have to fork over a buck or two more at the gas pumps.

 

[iamwiz82]

Originally posted by: K1052

Originally posted by: iamwiz82

Originally posted by: QurazyQuisp
While I don't think a recession is at all funny, I do find it funny how so many people were/are claiming that the US was/is losing it's economic influence on the world due to the falling dollar, yet you see economies all around the world go in to the crapper because there are fears that the US is going to have problems.

I was just thinking about this about 10 minutes ago when I read the story on CNN.

Apparently you guys haven't spent enough time in P&N, according to half the kooks in there the US is on the cusp of becoming 3rd world country that has almost no economic power because they have to fork over a buck or two more at the gas pumps.

I stay out of that forum. My blood pressure goes through the roof when I simply read the thread titles. :laugh:

 

[Delita]

Originally posted by: Duddy
I don't know if it makes sense or not, my studies are in Computer Science. I'm just asking, it was advice from my crazy as he'll uncle.

Good thing you aren't in English

 

[Mxylplyx]

Find a really big rock and crawl under it too.

 

[OS]

Originally posted by: Duddy
I watched last night and today as markets around the world dropped bigtime. With all the talk about the recession starting hardcore this week, I wondering if I should bother withdrawing all my money from the bank tomorrow morning while the US markets crash?

only if you have more than 100K at a CFC branch bank.

 

[Duddy]

Originally posted by: Delita

Originally posted by: Duddy
I don't know if it makes sense or not, my studies are in Computer Science. I'm just asking, it was advice from my crazy as he'll uncle.

Good thing you aren't in English

You can blame Steve Jobs for that. Appearantly 'hell' autocorrects to 'he'll' on the iPhone.

 

[imported_Imp]

Originally posted by: K1052

Originally posted by: edro

Originally posted by: DaveSimmons
Only if you take the money and buy lots of guns and ammo.

... and canned food and lamp oil...

gold too, can't forget that

Forget gold, bottle caps will be the currency of the new world.

 

[waggy]

Originally posted by: ElFenix

Originally posted by: Duddy
I watched last night and today as markets around the world dropped bigtime. With all the talk about the recession starting hardcore this week, I wondering if I should bother withdrawing all my money from the bank tomorrow morning while the US markets crash?

why the hell would you do that?

because he is a idiot?

 

[Kirby]

Yes, everyone run out and withdraw all your money from the evil banks! That'll be great for the economy. :roll:

 

[Capt Caveman]

:music:Run to the Hills!!!

Run for your life!!!:music:

 

[Duddy]

Anandtech sucks.

 

[Pathogen03]

Well you havent really given a reason for WHY you want to withdraw

what does it accomplish?

 

[FoBoT]

Originally posted by: Duddy
With all the talk about the recession starting hardcore this week, ...

that demonstrates a fundamental misunderstanding, "recessions" don't start on a certain day or week, they are macro events, they start over a period of months

besides, taking US dollars out of the bank is meaningless, they are just as worthless in your pocket as in the bank, so withdrawing cash in a panic would be silly


now buying some guns/ammo with your debit or credit card, that i can see as a good move


<note to self, stop at the new Bass Pro Shop tonight and buy a gun/ammo>

 

[BeauJangles]

Originally posted by: Duddy
Anandtech sucks.

Go post on the Ron Paul forums.

 

[sandorski]

Originally posted by: iamwiz82

Originally posted by: QurazyQuisp
While I don't think a recession is at all funny, I do find it funny how so many people were/are claiming that the US was/is losing it's economic influence on the world due to the falling dollar, yet you see economies all around the world go in to the crapper because there are fears that the US is going to have problems.

I was just thinking about this about 10 minutes ago when I read the story on CNN.

Those are not quite equivalent issues though. The $US is losing its' attractiveness as a Global Currency. As a Global Currency it gives the US great influence on the World Economy. If it loses its' position as the Global Currency, the US loses direct influence.

A US Recession effects the World Economy for 1 main reason, generally speaking, but at this time a secondary reason for this specific Recession is also contributing:

1) US Consumption rates are very high compared to the rest of the World. So many Economies who Supply Goods to the US get affected.

2) US Banking crisis caused by the Mortgage issues affects more than just US Banks/Financing. Foreign Banks/Financial Corps also bought much of the US Mortgages that are now in doubt. Certainly this effect is not as bad outside the US, but it has caused some significant Losses on some Foreign Lending Institutions.