People will have long forgotten the last time social mood turned so far down that confidence was lost in the banking system (It was 1929 during the onset of the great depression). During this time they ran to the banks to get their money out in a panic.
Today, we are setting up for a similar event, only this time, it should be much bigger and much worse than in recent history due to the fractal nature of this social downturn being of one larger degree. (Read Conquer the Crash, by Robert Prechter)
Socionomics and elliottwave predicts that there will indeed be a run on the banks. My personal view is that this event will occur sometime in the next 12 months as the European debt crisis starts to hot up.
Best advise? Savers can go and get their money out of the bank now and turn it into £50/$100 Notes. Then they should proceed to deposit them in a safety deposit box. Some people may wish to use their house to store their saving, although safety deposit boxes are generally safer.
Look to Greece defaulting on their debt as well as Italy, Portugal and Spain and other countries as the first dominoes in a series of dominoes fall to the ground. The effect will eventually sweep across Europe and into the United States causing a massive panic and upset in the financial system.
This is just our own causality and a culmination of a downturn in social mood. No government or banking authority has the power to stop this great wave of negativity. IT would be like humans trying to contain a tsunami that is 100Ft high.
People are already losing faith in banks but not yet to the point where they will go and get their money out. This urge will increase as social mood turns down and the stock market follows.
As for the last 6 years of my life of studying socionomics and thanks to Robert Prechter, the prediction is still down and down very far until around 2016.
I am sure as these events unfold and the predictions he makes come true that he will truly become a legend of his field and for mankind much like the belated Steve Jobs was to the Tech and rest of world.
Steve Jobs is another great man that i followed with intent and his Autobiography releases on October 24th written by the same guy that wrote Albert Einsteins Biography. If you want to hear about one of the most influential and great men in the world then get this book titled ‘Steve Jobs’
His mond operateur on a level that i can only pursue to achieve. One that takes the wisdom of the ancients and combines them with insights from todays world to do something truly great. He truly followed his heart and i will miss him even though i didn’t really know him personally.
Until the next blog, Stay safe.