BANK OF AMERICA BANK RUN

Talking of Bank of America, Wow! Have you had a look at their stock prices? Down to 5.53 or 9.64%!!

[link to finance.yahoo.com]

There is an equivalent idea in the UK (govt. guarantees up to about £100k per person / business), so it's plausible there's something in Germany.

Everyone should close thier accounts woth BOFA. PERIOD. This will send the message we need at this time

ATM withdrawal this morning, no problem.

FDIC: The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

That's another misconception, in my opinion. The dollar won't be worthless overnight. There will be other things happening at the same time the economy is swirling down the drain.

One of the most plausible scenarios is that banks become insolvent. As they start going down, the FDIC, which is already in the red, will have trouble supplying money. At the stage a banking collapse occurs and a bank run starts, many will immediately and painfully become aware of the difference between physical money (bills and coins) vs electronic money (ones and zeroes).

What will be worth more: a loaded (but otherwise inaccessible bank account) or the bills in your pocket? I'll take the bills over a check at that point.

People will still use currency, as long as they can, because that's the only thing they know how to use. The smart ones will barter, move to another currency, or trade for metals. Eventually everybody will catch on and then the $ will be useless.

But between here and worthless, cash will be king.

[link to www.straightdope.com]

Phrase your Statements as Questions to say what you want.

I withdrew all my money and closed my three BofA accounts last week after they announced they will begin charging $5 a month for me to use my own money.

Fuck BofA! They won't be charging me for shit!

They brought this on themselves.

They brought this on themselves.

Why else do you think their website keeps going down for long periods of time?

Most people can transfer money to other banks with just a few clicks. If you slow the website to a crawl nobody can log on and do a transaction.