7 Dec Bank Run

[genjix]

http://www.bbc.co.uk/news/magazine-11811238

[ribuck]

If your bank chooses to provide you with a "no-notice account", the bank had better be prepared to give you your money on demand.

With bitcoin, you can spend your entire balance at any time. Why would your bank not be expected to provide an equally good service?

[Anonymous]

If your bank chooses to provide you with a "no-notice account", the bank had better be prepared to give you your money on demand.

With bitcoin, you can spend your entire balance at any time. Why would your bank not be expected to provide an equally good service?

You can do that when you can point guns at people by proxy.

[ribuck]

From here:

BRITISH BANKERS' ASSOCIATION WARNS OF CANTONA-INSPIRED CRISIS!

Tuesday 23 November 2010 – by Will Henley
 
A plan hatched by ex-footballer Eric Cantona for a mass run on the banks could cause a financial “crisis”, the British Bankers’ Association has admitted.

The UK trade body warned that the direct action revolution promoted by the French former Manchester United striker risked a new Northern Rock “if enough people” withdraw their savings.

“I don’t understand what benefit there would be in trying to crash the banking system,” a BBA spokeswoman said.

“You would very quickly get into a Northern Rock situation if everybody wanted their money at once. It wouldn’t take very long before you get queues and then you would get camera crews.

“Once something looks like a crisis it becomes a crisis...