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Jimmy2008 (< 20)

Bank Holiday Coming? Prepare?

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June 22, 2009 – Comments (9) | RELATED TICKERS: CEF , RJA , DBA

The link http://thecomingdepression.blogspot.com/2009/06/bank-holiday-coming-prepare.html. Here is some text from the article.

”Some US embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of US cash to purchase currencies from those govts, quietly. But not £’s. Inside the State Dept there is a sense of sadness & foreboding that ‘something’ is about to happen, unknown re a date—just that within 180 days, but could be 120-150 days.”

Bob quotes another source that “Panasonic has told their people to be back in Japan by Sept 09.”

Harry Schultz, dean of newsletter writers, has quoted the Chapman letter of May 30 regarding US embassies being sent large amounts of cash with which to buy local *currencies, to last them a year. Here is Harry’s remarkable take on the situation:

“My HSL suspicion is that the elite plan another FDR style “bank holiday” of indefinite length, perhaps very soon, to let the insiders sort-out the bank mess which is getting more out of their control every day.*Insiders want/need to impose new bank rules.

What shall we do to get prepared for the potential event? I can think of the following:

1. Take as much cash as possible. The question is whether to keep most cash in USD or CAD. Upon bank holiday, USD could devalue a lot. Maybe CAD could go up? Maybe we can buy things with CAD in US?

2. Keep lots of silver coins handy. May we buy things using silver coins?

3. How likely is it for the government to confiscate gold/silver stocks (I try hard to get my physical gold out of the country)?

4. It is difficult to get stock certificate. In wide spread brokerage failure, how safe is our stock holding with the brokerage (like scottrade)?

5. It is difficult to stockpile meat/vegetable. It is still summer time and we can buy local fresh vegetables. We should maybe hoard lots of dry food now, like rice, flour, raisin, milk powder, etc?

Leap 2020, an European forecast institute, predicted debt defaults by US and UK by the end of the summer. It seems very likely that a major event will be happening in the next few months. I would like you help me out to get prepared! Any suggestions? Thanks!

9 Comments – Post Your Own

#1) On June 22, 2009 at 9:41 AM, kaskoosek (67.54) wrote:

Jimmy

 

I do not think it will happen this soon. In order for the dollar to be worthless, the stock market should be exploding right now. It is not, so I think it will take more time than just a couple of months. 

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#2) On June 22, 2009 at 9:45 AM, kaskoosek (67.54) wrote:

This article is trash. He doesn't understand what he is talking about.

 

Devalue against gold? Really????

 

I never knew that the dollar was still pegged against gold. 

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#3) On June 22, 2009 at 10:12 AM, svande8952 (< 20) wrote:

PREPARE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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#4) On June 22, 2009 at 10:57 AM, biotechmgr (35.21) wrote:

I have considered these types of situations and came up with these thoughts. Whoever "they" are want the economy to keep going. It puts money in their pocket. They are likely to keep the present system going as long as possible, hence the pumping of Fed credit into banks. A bank holiday would be a response to panic, which is not imminent. It may happen in the future when all the problems are revealed, but only in response to an acute situation. A proactive shutting down of banks is not in anyone's economic interest. Spending would freeze up and a total loss of confidence would ensue, sending everything into a downward spiral. Why precipitate it now? "They" are trying to keep up your confidence.

Therefore I believe this is not going to happen soon, and later only in response to an emergency. That said, it is best to prepare if you see the wheels coming off the system.

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#5) On June 22, 2009 at 10:58 AM, Retired31B5M (< 20) wrote:

I read that article and it is no better than those faxes I get trying to get me to buy some no-name stock.  No references, no evidence, nothing to back up the claims - and all from a website that is convenentily selling you 'survival guides.'

Would you invest in a stock based on claims that cannot be backed up?

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#6) On June 22, 2009 at 11:19 AM, Jimmy2008 (< 20) wrote:

I am very skeptical of what the power has been doing. Looking at what happened last September/October, we know that the whole ponzi financial system is very fragile. Gerald Celente issued a bank holiday warning late last year. A Congressman from PA told that the world financial system was only a few hours away from complete meltdown last year. That's why I don't discount the possibility of a bank holliday. Everything is possible in this country. I just would like to have a good approach to get prepared for the worst case at the right time.

 

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#7) On June 22, 2009 at 12:16 PM, chk999 (99.97) wrote:

Perma bears, like stopped clocks, are occasionally right.

But not very often.

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#8) On June 22, 2009 at 4:25 PM, jstegma (29.22) wrote:

Yeah, this is a lot of BS. 

The meltdown was fixed when the government/fed agreed to insure money market accounts.  If all the money had been pulled out of them the financial system would have collapsed, but that has now passed.  When they said the financial system was a few hours away from collapse, that's what they're talking about.

That didn't fix the economy, but it avoided the problem you seem to be worried about.  

This stuff about an extended bank holiday being planned is just pure fiction. 

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#9) On July 31, 2009 at 12:38 PM, rich1more (< 20) wrote:

I normally would find the type of thoughs coming out of the LEAP2020 people to be absurd. However, it certainly is not like buying some "no-name" stock from someone with no credentials, as they have some unusually solid "proof." If you read their entire newletter from February of 2008, it is shocking. It's almost as if they were looking into a crystal ball. Yes, they were wrong about the dollar going down, but quite frankly that was the thing that surprised many of us the most. But they were correct in almost every other detail - and they were quite detailed in their analysis. Of course they may have simply gotten lucky, but their accuracy then certainly gives an objective observer pause about what may happen next.

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