# A run on the banks



## db2469 (Jun 11, 2012)

In the beginnings of an economic collapse, I imagine there will be runs on banks and even though it's likely the collapse will mean the paper money we would withdraw could become useless, I believe we should still withdraw it BEFORE the run just in case it retains some value...if one waits for the SHTF, you probably won't get any...also, I guess we can kiss our 401Ks, IRAs, etc. goodbye...
DB


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## Tweto (Nov 26, 2011)

There are runs on the banks in Greese and Spain right now. It would always be best to remove your money from your bank before it collapses, even if the dollar is collapsing it will take time for most people to realize that the dollar has no value and it still gives you the option and time to use it some how. Buy supplies, fuel, ammo, if you can.

The mechanics of removing your money from a bank is another problem. The bank will want to transfer the funds or give you a cashiers check. You don't want a check or an electronic transfer you want CASH. Be aware that any sum above $10,000 is reported to DHS and the IRS. I do not want any government agency to be notified and my name put on their list. So CASH withdraws need to be taken out in quantities less then 10K. A smart person has already started to do this now before SHTF. If you wait till the panic starts it will be to late. Banks carry very little CASH and a run on a bank could run a bank out of cash in hours.

IMHO


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## BillS (May 30, 2011)

Yes, you can kiss your 401k goodbye. If there's stuff you need to buy yet you could always take a loan out from it. That's what we did.


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## db2469 (Jun 11, 2012)

I agree Tweto...good post!
DB


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