Run for the BANKS!!!
Cyprus reopened their banks to the public after strict restrictions over the past week. People stormed the banks to pull out what cash they had left in their accounts in fear of government bankruptcy. Although The European Commission bailed out yet another country, people are still afraid of the worst.
Are we close to another great depression?
Understanding that we have come a long way from 2009, we are still in a recovery stage with a very unconfident market. Will our government regulate the banks to allow us only to pull $300 dollars a day? With sequestration bombarding our government budget and our house not coming to any middle ground, the thoughts of fear can be instilled into the publics’ eyes.
What would it take for you to run to the bank?
There is a lot to consider when the government administers such a policy. The first and foremost caution is the safety of people before and after the policy. With people storming the banks to withdraw lots of cash comes the concern of personal safety. The second fear is the trample effect that is caused by the mass of people outside the bank as if it were Black Friday at Wal-Mart. The third and most important risk is the economy flush that is caused with the lack of resources and confidence.
Where is your line drawn?
What would you do?