FED directed 7 day "banking holiday"....what would you do?

Discussion in 'Chit Chat' started by AMT4SWA, Oct 9, 2008.

  1. I have heard about the rumored FED directed week long banking holiday now from 3 separate sources (to include the news that B of A has already made signs ready to be posted if directed). This is a food for thought type thread, to see what plan of action ET'rs would use to handle 7 days of no banking access or transactions if suddenly implemented overnight by the FED.

    ***No debt card usage

    ***No check processing

    ***No bank withdrawals or ATM access (banks would be closed)

    ***No money wiring/ACH/Direct Deposits

    What would be your plan?
  2. Enjoy a nice 7 day vacation?
  3. I thought of this already 2 weeks ago.
    They should have done this earlier, no kidding.

    Close everything and discuss USEFUL measures.

    IMO they should declare all existing CDS void.
  4. Hey AMT,

    I know one source. What are the other two?
  5. why would they restrict debit cards?

    what would they gain by doing that?
  6. EPrado


    Sounds like a great plan...if people didn't need to eat to survive.

    How would one pay for food?

    That plan is insane.
  7. I don't know if they'd do this or not, but if they do it will mark the end of life as we know it. Heavy rioting in the inner city. Martial law imposed! Major run on the banks when they opened again. Nationalization! I wish I were joking but I really think this would be the worst possible thing they could do. They had better think long and hard before making such a move.
  8. Rense is now reporting sources as of last night, and I have one person I know in banking that I have been talking to about this. Bob Chapman was the first person that I had heard this reported from....did some digging and there does appear to be some "smoke" (where there is smoke..................).
  9. EPrado


    In all seriousness......they cant do that.

    It will be like the movie Mad Max. We all will be cruising around on motorcycles with chainsaws killing anything for food.

    McDonalds will be serving Quarter pounders made out of human ......the value meal will include a side of fingers.
  10. Well a run on banks may actually kick off this action.....never know what will happen first as people could start a run on banks at anytime.
    #10     Oct 9, 2008