Wednesday, October 15, 2008

Bank Run Coming to a City Near You. Prepare for Credit Freeze (Video)

Don't let this happen to you. With today's global credit freeze, no one really knows what will happen tomorrow. What if the grocery stores and gas stations no longer accept credit cards? Not likely? Think again. According to CNBC, there have been scattered reports that some stores in Europe are not accepting U.K.-based credit cards anymore. That means cash is king and you'll need to get access to some money quickly. Remember that the bank only stores enough cash at the branch for day-to-day operations. Most of your money has been lent out (to people to buy things they probably can't afford and most likely will not be paid back. Oh wait, isn't this how it all got started??).

Be prepared and avoid long lines at the bank. Go to the ATM today and withdraw some cash for emergency purposes.

Related Posts:
The Collapse of America in Three Minutes (Video)
Visa (V): Buy, Sell, or Hold? (8/2008)
Bank Failure Interactive Map


2 comments:

  1. Ha, looks like we need to build a cash-help-each-other group:-))

    ReplyDelete
  2. Can anyobody give me some ca$h right about now ?

    ReplyDelete