Is there any way to tell if there is a silent bank run?
Is there any source of publicly available information that would allow us to determine whether there is a silent bank run happening? Or, must we just rely on speculation and anecdote?
There are may ways to answer this question. I will do my best.
1. Bank runs occur on fear so we can assume average people will give into that fear. The media usually creates this fear. This is because the average individual does not know enough about how banks do business. Anytime there was bad press on a bank people started to close their accounts. Before Indymac failed many people thought the large banks were "to big to fail". There have been silent bank runs occuring at many institutions. Without inside information I find bankrate.com is very accurate and helpful. You can look up any bank and there is detailed financial information to back-up the rating. So far it has been 100% accurate knowing who is in trouble.
Knowing if a bank run is occuring is not going to help you with today’s issues. You are better off enjoying life knowing you are prepared for whatever may happen.
Its so easy. Here are the steps.
1) Get a job at a place called the FDIC, near or close to Shelia Bair, she runs the place. This does not need to be a major job, just one within earshot of her phone so you can hopefully listen. A day janitor job will even work, or a window washer (you will need a glass to listen throw the window or some sort of listening device)
2) This is the important part. She will call a guy called Jamie Dimon, who runs a big bank called JP Morgan Chase. She will maybe mention a bank or Two, and then Jamie will alert his media friends to start talking about the bank or banks and how they made big boo boo’s
3) Don’t worry about the bank, they will be saftly in the hands of Jamie now. Soon all big banks will be under Jamie’s love and care.
There you have it. See, it’s so simple!