If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Think Progress)   Do you still have money in your bank account? You might want to withdraw it until after October 18th. You see, the thing with bank runs is you don't want to be the last one there   (thinkprogress.org) divider line 234
    More: Scary, bank accounts, Sen. John McCain, Christine Lagarde  
•       •       •

18419 clicks; posted to Main » on 08 Oct 2013 at 5:35 PM (27 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



234 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all
 
2013-10-08 05:17:00 PM
Why do we still have bank runs?

Besides those who have over 100k in the bank, people don't have to worry one bit
 
2013-10-08 05:21:49 PM
I intended to leave my money in the bank.  I have bills to pay.
 
2013-10-08 05:25:21 PM
Money? I don't need no stinkeen money.
 
2013-10-08 05:26:26 PM

cryinoutloud: Money? I don't need no stinkeen money.


Only drug dealers and conspiracy theorists use cold hard currency

Everyone else just swipes plastic
 
2013-10-08 05:27:05 PM
People still use cash?
 
2013-10-08 05:27:33 PM
I don't need money. I have these certificates saying I own gold. My plan is foolproof.
 
2013-10-08 05:29:01 PM

netweavr: People still use cash?


Chinese food place here in town is cash or check only. Several places around like that.
 
2013-10-08 05:30:50 PM

cman: Why do we still have bank runs?

Besides those who have over 100k in the bank, people don't have to worry one bit


Yeah, if the US defaults, the FDIC will still pay you. Right?

/don't think there are going to be bank runs
 
2013-10-08 05:31:27 PM

cman: Why do we still have bank runs?

Besides those who have over 100k in the bank, people don't have to worry one bit


I'm not sure where the FDIC fits in Ted Cruz' list of priorities. I don't want to say he'd actually toy with allowing the credit of the United States to be called into question, but... ok, yeah, I actually think I do want to say that.

Is "every person who owns a T-Bill" on the LOPCATGOPATA yet?
 
2013-10-08 05:32:13 PM
and wall st. is starting to panic too.

i wonder, if you add up all the money the GOP has cost the economy since taking control of the house in 2011, do you think it's in the high billions or have they cracked a trillion yet?
 
2013-10-08 05:34:11 PM

skinnycatullus: cman: Why do we still have bank runs?

Besides those who have over 100k in the bank, people don't have to worry one bit

Yeah, if the US defaults, the FDIC will still pay you. Right?

/don't think there are going to be bank runs


FDIC operates under the Full Faith and Credit of the United States. If no one has faith and credit in the ability of the United States to pay its obligations, game over.

/Then again, if no one has faith in the US paying its obligations, the US Dollar becomes worthless anyway
 
2013-10-08 05:35:03 PM
I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.
 
2013-10-08 05:35:51 PM
You know, I'm pretty sure it's a felony to incite a bank run, or to impugn the financial condition of a federally insured financial institution.  So, yeah.  Maybe let's not do that on Fark.
 
2013-10-08 05:35:56 PM

Nabb1: I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.


I have penicillin and a working uterus. I will be your overlord.
 
2013-10-08 05:36:32 PM

Necessary: You know, I'm pretty sure it's a felony to incite a bank run, or to impugn the financial condition of a federally insured financial institution.  So, yeah.  Maybe let's not do that on Fark.


Um..what?

Stating that Bank of America is a cocksucker is not a felony.
 
2013-10-08 05:37:55 PM
I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry
 
2013-10-08 05:39:18 PM
Never a problem. I'm always broke the day after payday, anyway. Well, not completely, but as far as the bank's concerned, yep, tapped out.
 
2013-10-08 05:39:38 PM

Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry


i never thought about eating my neighbors.
 
2013-10-08 05:39:45 PM

Necessary: You know, I'm pretty sure it's a felony to incite a bank run, or to impugn the financial condition of a federally insured financial institution.  So, yeah.  Maybe let's not do that on Fark.



Given that the US House of Representatives has being doing nothing BUT impugning the financial condition of all federally insured financial institutions, I doubt that FARK has much to worry about.
 
2013-10-08 05:40:08 PM
Starting a bank-run, however, is something that maybe one should aspire to be last in.
 
2013-10-08 05:41:08 PM

Nabb1: I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.


All I have is a shotgun and a can opener.  We should get together and talk about our plans.
 
2013-10-08 05:41:10 PM

Nabb1: I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.


Your kind always die in the first wave. :P

"if the time comes I need one, there'll be plenty lying on the ground"
 
2013-10-08 05:41:58 PM

what_now: Nabb1: I've spent years hoarding canned food and shotgun shells just for this scenario. I will rule this new world.

I have penicillin and a working uterus. I will be your overlord.


Pfft. I'm allergic to penicillin. Z-packs are where it's at.
 
2013-10-08 05:42:06 PM
Oh look, the left trying fear mongering.

// Nothing is gonna happen (much like their G.W. predictions)
 
2013-10-08 05:42:11 PM

what_now: Stating that Bank of America is a cocksucker is not a felony.


No, but saying, "Bank of America is going to be out of cash on the 18th, so withdraw yours now because BoA won't be able to survive it" might be, particularly if it results in damage to a financial institution.  Just saying "they have bad customer service," perfectly fine.  I said impugning the financial condition, not the quality of operations.
 
2013-10-08 05:42:44 PM

OnlyM3: Oh look, the left trying fear mongering.

// Nothing is gonna happen (much like their G.W. predictions)


where?
 
2013-10-08 05:42:48 PM

dustman81: skinnycatullus: cman: Why do we still have bank runs?

Besides those who have over 100k in the bank, people don't have to worry one bit

Yeah, if the US defaults, the FDIC will still pay you. Right?

/don't think there are going to be bank runs

FDIC operates under the Full Faith and Credit of the United States. If no one has faith and credit in the ability of the United States to pay its obligations, game over.

/Then again, if no one has faith in the US paying its obligations, the US Dollar becomes worthless anyway


If the US currency collapses you have far bigger concerns than the $30,000 you had in savings.
 
2013-10-08 05:44:17 PM

Isitoveryet: Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry

i never thought about eating my neighbors.


I think about eating her all the time. Oh wait. I think we're talking about different things.
 
2013-10-08 05:44:44 PM

MisterTweak: LOPCATGOPATA yet?


who's in charge of that list, anyway?
 
2013-10-08 05:46:21 PM

Isitoveryet: Majick Thise: I have all the money that will still be worth anything locked up in a safe. Also I have guns and neighbors so I won't go hungry

i never thought about eating my neighbors.


Most of mine are republican so they would probably be mostly gristle. Definitely not a T-bone to be found anywhere
 
2013-10-08 05:46:25 PM
Why would there be a bank run? I'm confused.
 
2013-10-08 05:46:54 PM
I have hoarded over 50 terabytes of ebony tickle porn and several cans of catfish grease. My left forearm looks like Popeye's so I'm pretty sure I will be able to find a vein if I decide to overdose on cheap Mexican heroin.

Seriously, please put more pictures of your fat children on Facebook. I'm thinking that not only will they be plump and tender, but slow and easy to catch.
 
2013-10-08 05:47:02 PM

Necessary: what_now: Stating that Bank of America is a cocksucker is not a felony.

No, but saying, "Bank of America is going to be out of cash on the 18th, so withdraw yours now because BoA won't be able to survive it" might be, particularly if it results in damage to a financial institution.  Just saying "they have bad customer service," perfectly fine.  I said impugning the financial condition, not the quality of operations.


The First Amendment does not protect against making a bank look foolish? Really? I don't think that's true, and I have a GED in Law.
 
2013-10-08 05:47:02 PM

OnlyM3: Oh look, the left trying fear mongering.

// Nothing is gonna happen (much like their G.W. predictions)


Shhh. The left is busy letting Obama destroy America and laughing as ObamaCare cripples the country. It's the worst law ever, after all....
 
2013-10-08 05:47:37 PM

DamnYankees: Why would there be a bank run? I'm confused.


Not a full run. Just a 5k.
 
2013-10-08 05:47:38 PM
HOLY SHIAT We're all gonna die!!
 
2013-10-08 05:48:17 PM

DamnYankees: Why would there be a bank run? I'm confused.


Cause Boehner hasn't yet delivered quite ALL the money to his rich pals and people are afraid he's comin' for the small change next
 
2013-10-08 05:49:44 PM

OnlyM3: // Nothing is gonna happen (much like their G.W. predictions)


The one where G.W. is going to insert us in an unnecessary military conflict that resulted in lots of unnecessary American and Iraqi lives lost?
 
2013-10-08 05:50:25 PM

FarkingReading: I think about eating her all the time. Oh wait. I think we're talking about different things.


vitamin P, it's good for overall health.


Majick Thise: Most of mine are republican so they would probably be mostly gristle. Definitely not a T-bone to be found anywhere


you can also render their fat deposits and us that as lantern oil.
 
2013-10-08 05:50:28 PM

DamnYankees: Why would there be a bank run? I'm confused.


There won't be. George Bailey will talk sense into the townsfolk.
 
2013-10-08 05:51:12 PM

Truther: HOLY SHIAT We're all gonna die!!


I've been promised eternal life.
 
2013-10-08 05:51:38 PM

mediablitz: I don't need money. I have these certificates saying I own gold. My plan is foolproof.


And I have a gun that says I own a gun. I win.
 
2013-10-08 05:53:38 PM

DamnYankees: Why would there be a bank run? I'm confused.


Treasuries are commonly held as a very safe investment used to meet reserve requirments by insurers and lending institutions.  If those are suddenly worth less than they were previously believed to be worth, then the insurers and lending institutions suddenly need to increase their cash positions to offset the loss to maintain their reserve requirements.

If everyone suddenly needs cash, this tends to cause banks to collapse.  See 2008.
 
2013-10-08 05:53:38 PM
Don't worry, it will be just like the Great Depression. When after the economic collapse a charismatic leader rose up and showed the oppressed how to fight back. Sure he was a community organizer and socialist, but he sure did get those trains to run on time, built a car for everyone, and showed those rich accountant, banker, money grubbing 1%er why they could no longer hoard money. Why he even had a Freedom Through Work program that put those lazy undesirable welfare bums to work on useful civic projects. Like building community gas lines, ovens, and vehicles.
 
2013-10-08 05:53:42 PM
yafh.com
 
2013-10-08 05:53:50 PM

cman: Why do we still have bank runs?

Besides those who have over 100k in the bank, people don't have to worry one bit


Your money is guaranteed... just not today :)

The FDIC can take it's sweet time and most of us with less than 100k in the account have bills to pay.
 
2013-10-08 05:54:17 PM
Hi! Could you put all of the bits representing my money in this bit bucket? Thanks.
 
2013-10-08 05:54:20 PM

DamnYankees: Why would there be a bank run? I'm confused.


There shouldn't be. But people are stupid. The problem is bank runs become a self-fulfilling prophecy if there are enough stupid people.
 
2013-10-08 05:56:08 PM

mediablitz: I don't need money. I have these certificates saying I own gold. My plan is foolproof.


this is my goto argument with the "gold will always have value" crowd (in terms of apocalyptic scenarios).

first ask them if they've invested in gold, then continue with the "and how much gold do you have in your possession" blow.

then ask them to explain how they plan on gaining access to their gold.

they usually shrug, hard to actually counter on that one.

/yes investing in it can yield substantial returns
 
2013-10-08 05:56:12 PM
cman * * Smartest * Funniest 2013-10-08 05:17:00 PM Why do we still have bank runs? Besides those who have over 100k in the bank, people don't have to worry one bit
=========================================================

A) It's 250k now.

B) Sure, it's insured by the FDIC, but when you can't print new money to cover the debt, you can't really insure it.
 
Displayed 50 of 234 comments

First | « | 1 | 2 | 3 | 4 | 5 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report