In case you don’t know, a Bank Holiday in this context is not where the employees take a vacation, but where the bank shuts it’s doors for a period of time due to financial distress or other issues. There have already been reports of at least one bank in Greece shutting down for a month, and I’m sure others will follow shortly. Basically, the major banks in Europe AND the U.S. are ALL insolvent and liens have been filed against the entire western financial system to force it into bankruptcy. It’s only a matter of time before it gets shut down for good, and that time appears to be approaching very fast.
I’m still reminded of some speculation a few months ago that France would be the first to leave the Euro Monetary Union instead of Greece. Hmmmm. I’m keeping an eye on France as well as Greece, Spain, Italy, the BIS, the Fed’s… it’s enough to keep one busy all day long. –Dennis
Contagion fears and panic appear to have reached France’s shores ahead of Sunday’s Greek vote, as Max Keiser has received a first-hand account that France’s large Banque Postal stopped outgoing bank wires due to ‘technical glitches’, and also stopped cash transactions beginning at 8am Friday!
A global financial collapse and subsequent bank run could occur within minutes-hours once the trigger is detonated – which appears to be a possibility (although likely remote) with this weekend’s rhetoric from numerous Central Bankers stating they will provide whatever liquidity is necessary .
As a precaution, we recommend readers take the time Sunday to ensure they have a minimum of 1-3 months supply of necessities on hand, and as always, protect your financial assets with PHYSICAL gold and silver held in your own possession.
From Max Keiser:
Banque Postal is in in very bad position (Dexia accounts)
i received this and this friday and saturday
The mail says that my reader went to the bank in the morning and asked 250 euros
the lady answered “i am sorry, i just have 180 euros”…
The guy understood that his account had only 180 euros so he asked again : – )
she explained that she only had 500 euros to open her desk and 180 left !!!
The reader made 3 Banks Postale before getting his money.
The picture below (taken by an another reader on friday in Maison-Alfort, parisian suburb) shows another Banque Postale saying that there will be no cash transaction on friday from 8h to 14h30 !
Other friends are reporting to me that (whatever bank) they are not able to do wires due to “computer technical problems blabla”) !
something big and dangerous is going on here in France with Bank Postale one
of the most important banks of the country