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US Banks Stuffing ATMs With 20-30% More Cash In Case Of Panicked Withdrawals
Zero Hedge
Submitted by Tyler Durden on 10/03/2013
Even as the fearmongering over the debt ceiling hits proportions not seen since 2011 (when it was the precipitous drop in the market that catalyzed a resolution in the final minutes, and when four consecutive 400 point up and down DJIA days cemented the deal – a scenario that may be repeated again), some banks are taking things more seriously, and being well-aware that when it comes to banks, any initial panic merely perpetuates more panic, have taken some radical steps. The FT reports that “two of the country’s 10 biggest banks said they were putting into place a “playbook” used in August 2011 when the government last came close to breaching the debt ceiling. One senior executive said his bank was delivering 20-30 per cent more cash than usual in case panicked customers tried to withdraw funds en masse.Banks are also holding daily emergency meetings to discuss other steps, including possible free overdrafts for customers reliant on social security payments from the government.”
Seems like a good thing to just be more aware than usual. Anything can happen and be blamed on the gridlock Congress. But all of them are guilty for taking this country to the Brink.
time to get rid of the Obama Bucks & buy up silver… ammo… corn flakes… toilet paper… anything of value to barter with…
New 100 come out soon also.
WARNING: Chase Bank is offering $50 if you deposit $2,000 or more. The big banks want your accounts full before The Bail-In when they take your money to line their pockets before shtf.