Strange Observation - Poss Bank Run?

[jsx1043]

Interesting observation today - 1815 hours, on the way in to work, I passed two banks that had strangely long lines in the parking lot for customers waiting for the ATM. I’ve passed these banks every day for last few years and have never seen the lines that long, even for a payday Friday. The Chase I passed had no less than 15 people waiting in line and more cars pulling up.

Just an interesting observation, and thought I’d share to see if anyone else is noticing anything in their AO.

And no, I’m not wearing my tinfoil hat, but this is as good a place to share that info and crowdsource for more intel.

 

[snorko]

I posted something similar back in February/March. Nothing came of it. It is the first Friday of the month, maybe government payments hit?

 

[jsx1043]

More than likely. Just with everybody losing their shtuff at the drop of a hat these days, who knows what’s likely to kick off.


“POTUS has the “Rona!”

 

[johny5]

(Not really, though. It's 2020. Anything can happen...)

 

[maxwelhse]

The way September ended is sort of a perfect storm as far as days of the month and Friday's go. People that get paid bi-monthly, as well as bi-weekly, and the regular weekly crowd all just got paid, plus it's almost dead-smack the last/first of the month so business must be conducted.

The weather also just turned sharply on a dime from Summer to "off" so a lot of folks probably just had their "oh crap" alarms go off for their fall priorities.

 

[jsx1043]

The way September ended is sort of a perfect storm as far as days of the month and Friday's go. People that get paid bi-monthly, as well as bi-weekly, and the regular weekly crowd all just got paid, plus it's almost dead-smack the last/first of the month so business must be conducted.

This is my thought as well. Occam’s Razor provides that this is the most likely scenario.

If, however, there is a run, I just wanted first on the board for once. LOL

 

[maxwelhse]

This is my thought as well. Occam’s Razor provides that this is the most likely scenario.

If, however, there is a run, I just wanted first on the board for once. LOL

It helps when we're all too broke from ammo prices and stocking up on cheap silver right before 'rona hit that none of us have any purpose to even consider glancing at a bank. You're on the front lines on this one for sure!

 

[Cameramonkey]

Yeah, its the fact the banks lobby is closed for all but necessary business like loans, and those are scheduled. So unlike before, you can see EVERY last customer in line. Before you would only see the ones too lazy to go in.

I see Thursdays and Fridays much busier as people deposit and cash paychecks. I dont think its anything nefarious.

 

[jsx1043]

Yeah, its the fact the banks lobby is closed for all but necessary business like loans, and those are scheduled. So unlike before, you can see EVERY last customer in line. Before you would only see the ones too lazy to go in.

I see Thursdays and Fridays much busier as people deposit and cash paychecks. I dont think its anything nefarious.

I didn’t even think about the lobbies being closed, other than it being after normal banking hours...but yeah, the “new normal” is not normal to me because I haven’t been to a bank in a couple years.

 

[maxwelhse]

I didn’t even think about the lobbies being closed, other than it being after normal banking hours...but yeah, the “new normal” is not normal to me because I haven’t been to a bank in a couple years.

Me either... Looks like monkeys are trainable and can train!

 

[DoggyDaddy]

Yeah, its the fact the banks lobby is closed for all but necessary business like loans, and those are scheduled. So unlike before, you can see EVERY last customer in line. Before you would only see the ones too lazy to go in.

I see Thursdays and Fridays much busier as people deposit and cash paychecks. I dont think its anything nefarious.

My credit union's lobby is still open for regular business and has been for months. I assumed other banks' were too.

 

[churchmouse]

My credit union's lobby is still open for regular business and has been for months. I assumed other banks' were too.

Ours is as well.

 

[4651feeder]

Funny you should mention Chase. Up around us they've been closing locations one after another. Pity the fool in search of a Chase ATM in downtown Elkhart and even the main building there sets abandoned in disarray.

 

[chevyguy]

Wait till the powers that be, decree that after said given date all money is cashless due to the rona. Then you will see bank runs by the more informed people (as they are in tune with the real agenda of all this crap) to get cash to get buy things before they lose their purchasing freedom forever. And I will add general freedom forever.

 

[Cameramonkey]

Wait till the powers that be, decree that after said given date all money is cashless due to the rona. Then you will see bank runs by the more informed people (as they are in tune with the real agenda of all this crap) to get cash to get buy things before they lose their purchasing freedom forever. And I will add general freedom forever.

I have mixed feels about this. I wonder how many people would REALLY grab cash if it were about to be outlawed. What is the point of grabbing a fiat currency when the issuer announces it is going to be worthless. Why would individuals continue to trade in pieces of paper that no longer have any REAL value? Why would they all rely on each other continuing to accept the traditional value when it has become value-less to the rest of the world?

And if people did continue to trade on the black market using paper, how long could it be sustained? At any point somebody could say "sorry, that's just a pretty piece of paper. Its worthless and is no good. You need to give me something of real value instead." and you'd be screwed. (unless you had precious metals, or other barter goods)

And as an afterthought, if .gov were to pass down that decree, how many banks would allow customers to withdraw cash from that point? Isnt that unethical(?) to allow customers to take real value and convert it to something they both know will be officially worthless in days? I'd expect them to stop handing out cash within hours of it being announced "to protect the customer".

The above might make an interesting thread on its own.

EDIT: And I could also see them also try to outlaw precious metals conversions as well. No more buying physical gold/silver. After all, that could be used to create black market currency.

 

[jsx1043]

I’m perfectly fine with that discussion in here Cameramonkey. This thread doesn’t have much else to run it’s course, and I can feel achieved in starting a long discourse on a cashless society.

There’s a TON that I don’t know about money, markets, investing, inter alia....

 

[chevyguy]

I have mixed feels about this. I wonder how many people would REALLY grab cash if it were about to be outlawed. What is the point of grabbing a fiat currency when the issuer announces it is going to be worthless. Why would individuals continue to trade in pieces of paper that no longer have any REAL value? Why would they all rely on each other continuing to accept the traditional value when it has become value-less to the rest of the world?

And if people did continue to trade on the black market using paper, how long could it be sustained? At any point somebody could say "sorry, that's just a pretty piece of paper. Its worthless and is no good. You need to give me something of real value instead." and you'd be screwed. (unless you had precious metals, or other barter goods)

And as an afterthought, if .gov were to pass down that decree, how many banks would allow customers to withdraw cash from that point? Isnt that unethical(?) to allow customers to take real value and convert it to something they both know will be officially worthless in days? I'd expect them to stop handing out cash within hours of it being announced "to protect the customer".

The above might make an interesting thread on its own.

EDIT: And I could also see them also try to outlaw precious metals conversions as well. No more buying physical gold/silver. After all, that could be used to create black market currency.

I see what you are saying about to become worthless, but in a last effort to get what one can without oversight of every cent tracked I believe it is possible to see.

 

[chevyguy]

I’m perfectly fine with that discussion in here Cameramonkey. This thread doesn’t have much else to run it’s course, and I can feel achieved in starting a long discourse on a cashless society.

There’s a TON that I don’t know about money, markets, investing, inter alia....

Good book to read that informs the way the money is and how the “Federal Reserve” works is The Creature From Jekyll Island by G. Edward Griffin