{"id":28037,"date":"2017-11-16T08:11:20","date_gmt":"2017-11-16T13:11:20","guid":{"rendered":"http:\/\/olduvai.ca\/?p=28037"},"modified":"2017-11-16T08:11:28","modified_gmt":"2017-11-16T13:11:28","slug":"eu-preparing-for-the-banking-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=28037","title":{"rendered":"EU Preparing for the Banking Crisis"},"content":{"rendered":"
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EU Preparing for the Banking Crisis<\/a><\/h3>\n<\/div>\n
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\"\"<\/a>Subtly, the EU is looking to establish preparations for the coming banking crisis and how to protect the banks from massive withdrawals. The solution? The\u00a0EU wants to be able to temporarily free up credits for the banks and at the same time to\u00a0freeze bank deposits, In other words, like Greece, you just won\u2019t be able to withdraw funds.\u00a0 Obviously, everything will be frozen.\u00a0The current EU plan envisages blocking account disbursements for five working days and with the authority to extend any suspension to up to 20 days. They may need longer!<\/p>\n

I recommend that you have 30 days worth of cash on hand. What the authorities do not understand is that if they freeze one bank, a run will unfold on all banks. The public will not believe whatever the government says. Therefore, banks that are not in crisis can be pushed into a crisis by a contagion. That is simply how it all unfolded in 1931-1933. The only way to stop a contagion will be a bank holiday\u00a0and you have to close them all.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

EU Preparing for the Banking Crisis Subtly, the EU is looking to establish preparations for the coming banking crisis and how to protect the banks from massive withdrawals. The solution? The\u00a0EU wants to be able to temporarily free up credits for the banks and at the same time to\u00a0freeze bank deposits, In other words, like […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[5496,2086,2014,63,175,279,284,5479],"class_list":["post-28037","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-armstrong-economics","tag-bank-run","tag-banking-crisis","tag-banks","tag-credit","tag-eu","tag-european-union","tag-martin-armstrong"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28037"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28037\/revisions"}],"predecessor-version":[{"id":28039,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28037\/revisions\/28039"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}