Bank Holiday this month?

Misthos · Aug 16, 2009

Quote from Ivanovich:

What would be the purpose of this bank holiday?

For arguments sake, let's say it's true - and I'm not saying it is.

The only reason I could come up with is they need the time to adopt the new FASB mtm rules and anticipate a really big bank (or two) blow-up - one that not even the FDIC could handle in time. So...

Bank Holiday, shut down trading and have a "managed" bank implosion. They immediately nationalize it and chop it up.

A managed soft landing, then they re-open markets and banks. Why do they need the holiday? to buy time and make sure people will be calmer after the wind-down. If they don't and the markets and banks are open - it would be a panic like we experienced w/ the money markets in the Fall '08.

(I'm taking the tinfoil hat off now)

Ivanovich · Aug 16, 2009

They can't shut all markets down. Forex, Commodities (ICE), international markets, the USD....all of these are at risk in such a move.

obama-lama · Aug 16, 2009

Quote from Ivanovich:

They can't shut all markets down. Forex, Commodities (ICE), international markets, the USD....all of these are at risk in such a move.

And your point is??

Oh, I got it. You don't think it CAN happen. LOL

Ivanovich · Aug 16, 2009

Quote from obama-lama:

And your point is??

Oh, I got it. You don't think it CAN happen. LOL

No, that's not my point. If I didn't think it could happen, I'd never have posted in the thread. Try not to be a dick.

My point was that I'm not sure they're prepared for the international fallout that will occur from such a move.

SideShowBob · Aug 16, 2009

Quote from Ivanovich:

They can't shut all markets down. Forex, Commodities (ICE), international markets, the USD....all of these are at risk in such a move.

Please don't bring rational arguments into this discussion, this thread is marked for loony conspiracy theories only.

ajacobson · Aug 16, 2009

Snopes has had this as a false story almost every month since late 2008

Ivanovich · Aug 16, 2009

Quote from SideShowBob:

Please don't bring rational arguments into this discussion, this thread is marked for loony conspiracy theories only.

LOL...reminds me of an old boss: "What does fact have to do with anything?"

TGregg · Aug 16, 2009

Might there be anybody willing to wager on this? I'm thinking this is a pile of BS.

zdreg · Aug 17, 2009

Quote from TGregg:

Might there be anybody willing to wager on this? I'm thinking this is a pile of BS.

I am willing to wager that there will be a bank holiday before the next US presidential election. worldwide the financial system is teetering particularly in the US and Europe.

jprad · Aug 17, 2009

Quote from Misthos:

The only reason I could come up with is they need the time to adopt the new FASB mtm rules and anticipate a really big bank (or two) blow-up - one that not even the FDIC could handle in time. So...

Bank Holiday, shut down trading and have a "managed" bank implosion. They immediately nationalize it and chop it up.

A managed soft landing, then they re-open markets and banks. Why do they need the holiday? to buy time and make sure people will be calmer after the wind-down. If they don't and the markets and banks are open - it would be a panic like we experienced w/ the money markets in the Fall '08.

That's exactly what weekends are for...

And, that's exactly what they did when Bear Sterns failed, they took care of it over a weekend.

The Fall of '08 happened because they let Lehman Brothers fail.