Re: Bank Run -- OarClub

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Date Posted: 12:25:38 07/18/08 Fri
Author: RadioRay
Subject: Re: Bank Run
In reply to: A 's message, "Re: Bank Run" on 11:32:30 07/18/08 Fri

The trouble with hysteria, is that they waste it on the hysterical.

Essentially, paper money/electronic banking IS viable only as long as people believe that it is. If a significant enough slide begins, banking systems topple quickly, rather like the classic Hollander tulip bulb economy of a few hundred years ago. One day it hit a critical mass of those who didn't think that it was worth a life's savings for bulbs and it collapsed in short order. When banks fall and how many - how far - who knows? that's above my pay grade. However, it's always wise to have a grub stake. As a friend of mine opined "Used paper is 18 cent a ton. I don't care what's printed on it."

>RadioRay ..._ ._
s/v Milenka

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Replies:

Re: Bank Run -- Jay, 19:03:04 07/18/08 Fri
- Which ones are the optimists? -- Zombi ("you can run, but you can't hide" Lord Humongous), 06:40:24 07/19/08 Sat
- Re: Bank Run -- A, 10:51:00 07/19/08 Sat
  - Two more dead banks this morning, , , -- Jay, 12:41:09 07/26/08 Sat
    - Re: Two more dead banks this morning, , , -- Danny, 12:58:53 07/26/08 Sat

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