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Friday, February 26, 2010

Read Between The Lines of Citigroup Customer Announcement for Hint of Bank Holiday

A recent notice by Citigroup advises its customers that it now reserves the right to require 7 days notice for any withdrawals from its checking or savings accounts - effective April 1st 2010. Read the full article by Paul Watson for more details.

Does this mean the stars are aligning for a good old fashioned bank holiday. Do they foresee a banking crisis a la 2008 happening later on in Spring. Bear in mind that if Greek national debt gets downgraded then this will have huge repercussions for Greek banks who hold the sovereign debt as collateral for new loans and who will need to roll over their debt in the next few months!!!. This could be the straw that breaks the camel's back or the butterfly that gently brushes the first domino. Whatever the metaphor it could be wise to read huge things into this annoucement

In Gold We Trust is an Online Silver and Gold Calculator that gives easy up to the minute silver dollar values, prices on all junk silver coins as well as scrap gold prices and the value of gold coins


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