ARE BANKS MESSING AROUND WITH BANK DEPOSITORS FUNDS TO COVER THEIR LIQUIDITY ISSUES
Steve, something happened yesterday that I wanted to share with you and your listeners. Yesterday, my wife called me IN PANIC MODE and told me she made a withdrawal from our bank ATM. When she got the receipt it showed a checking account balance of $115.47. We average a couple of thousand a month in our checking account and she only withdrew $60.00.
I went to another branch and arrived 30 minutes later after she called me, did a balance inquiry at ATM and sure enough, the balance was back were it should be. Glitch or trial run Steve?
By the way Steve, we took your advice years ago and bought PM' s and continue to do so. My wife used to cringe when I told her we had bought more PM' s. She might have been 50% on board with these purchases. After yesterdays incident she told me that all she could think of at the time was our stash of PM's that we physically hold, as you've said Steve, if you don't hold it you don't own it. I have a feeling she is now 100% on board now.
Lastly, the bank involved was PCN bank here in the state of Indiana.
Oct 23, 2013