This Is What Your ATM Will Look Like During a Bank Panic *Video*

From SHTFplan.com


Thousands of Latvians lined up at bank counters and ATMs over the weekend in an attempt to withdraw their savings from Swedbank, the country’s largest banking institution.


As rumors of imminent collapse began to build due to the bank’s reported liquidity problems in Estonia and Sweden, Latvians panicked and headed for their cash. This was the scene outside of numerous ATM’s in Latvia’s capital city, Riga:




There are various reasons for why a bank run may occur in the U.S., but the overwhelming driving mechanism will be panic. Once the public realizes that a particular insititution can’t make good on its debt or the country’s currency goes into a death spiral, depositors will be out in droves. ATMs will be limited on cash and generally allow withdrawals of about $300 per day. Likewise, banks will simply not have enough money to pay out the entire account balance of every depositor, so they will more than likely implement withdrawal restrictions similar to what you might get from an ATM.

At that point, the future of your finances will fall into the hands of the federal government by way of the FDIC, which itself is wholly under-capitalized and unable to effectively cover the deposits of a single major U.S. bank, let alone the entire banking system...

Pan-European Bank Run Day Starts With A Bang: Bank Of Ireland ATM Systems Fail

From Zerohedge.

As a reminder today is the day when Europeans are supposed to withdraw money from their bank, not necessarily in a beneficial manner. And maybe the action is already having an impact with the Bank of Ireland apparently the first casualty. BBC reports: "Customers of one of Ireland's largest banks have been unable to access their cash accounts through ATMs or online. The Bank of Ireland said it became aware at 1000 GMT on Tuesday that ATMs were not working and customers were unable to make online transactions. A spokesperson said the fault lay with the bank's internal system and engineers were working to restore normal services." And by bank's internal system presumably one meant lack of money...Perhaps Eric Cantona will have the last laugh after all...