Definitely not a good sign

[1Admin]

http://ca.news.yahoo.com/latvias-largest-bank-fights-off-depositor-run-rumours-103638265.html

Runs on a bank in Latvia.

In these days of "social media", things get started quickly and are fueled far and fast by a posting or two on Tweeter, Facebook, etc.

[Klayton]

Wait, I had to read this part twice withdrawn 24 million lats ($48 million) you mean to tell me our US dollar is so weak now it takes TWO US $ to equal ONE LAT??? HOLY SMOKES BATMAN!!!

[qrprat77]

Wait, I had to read this part twice withdrawn 24 million lats ($48 million) you mean to tell me our US dollar is so weak now it takes TWO US $ to equal ONE LAT??? HOLY SMOKES BATMAN!!!

I wouldn't be so worried about exchange rate unless the economies can compare. Last time I was in Jordan, (2000), the exchange rate was 1.5 Dollars to 1 Dinar. Nobody had any money though, so it wasn't a big deal. A lot of things were a lot cheaper there than in Israel.
Sometimes you could work a better angle dealin' in Dollars though, either place.
Now the fact that there was 'an attempt at a run' is interesting. I wonder what a bank run would look like in this country. We can go to the ATM, sure, but we can also do a lot of things online too. Strange days brothers, strange days.

[Not_Yet_Prepped]

I wonder what a bank run would look like in this country. We can go to the ATM, sure, but we can also do a lot of things online too.

The ATMs have very little cash on hand (if you have been to a large "street fair" the ATMs are always running out of cash) and they usually limit single withdraws to few hundard dollars at time and they then limit the 24 hour total to a few thousand (or less for your own "protection"). And the Banks themselves will close the doors to try to stop a run. Which makes it even worse because then everyone gets even more affraid and the day the reopen the doors more customers will try to withdraw.

This is another reason to always carry cash.

[MustangGal]

I cringed when I saw this! I am afraid it is coming to bank near us, too! Right now we are keeping just enough cash in the bank to pay bills. Not that we have a lot of money, be we always have some cash on hand. Of course, right now, most of our cash is being invested in preps.