You would have to be well over 90 years of age to remember when American banks were closed for days to stem against an impending bank run by its clients. On March 6, 1933, towards the end of the great depression, a bank holiday was declared by the, at that point only 36 hours old, Franklin Roosevelt administration. The intent of the proclamation was to bring confidence back into the monetary system. For a week people were not able to access their bank accounts nor withdraw any money. According to the Federal Bank website the “holiday” resulted in the death of over 4000 banks. It could be perceived as a kind of coup d’etat by bigger banking institutions to get rid of the smaller unwanted competition and if you really wanted to follow the moneytrail – not surprisingly the banks that were shareholders and owners of the Federal Reserve were not among the 4000 banks. Nowadays …
The Great Reset – the coming bank holiday
You would have to be well over 90 years of age to remember when American banks were closed for days to stem against an impending bank run by its clients. On March 6, 1933, towards the end of the great depression, a bank holiday was declared by the, at that point only 36 hours old, Franklin Roosevelt administration. The intent of the proclamation was to bring confidence back into the monetary system. For a week people were not able to access their bank accounts nor withdraw any money. According to the Federal Bank website the “holiday” resulted in the death of over 4000 banks. It could be perceived as a kind of coup d’etat by bigger banking institutions to get rid of the smaller unwanted competition and if you really wanted to follow the moneytrail – not surprisingly the banks that were shareholders and owners of the Federal Reserve were not among the 4000 banks. Nowadays …