Daily Archives: January 25, 2009

Britain’s Hidden Near Run On The Banks

Revealed: Day the banks were just three hours from collapse at the UK Mail, certainly goes to show how something so important to a nation’s financial system, can remain such a closely guarded secret. 

The UK Treasury was apparently 3 hours away from a run on the banks on Friday October 10, 2008. 

Yup, only 3 months ago, that country was on the brink of complete financial meltdown. 

Big time depositors abroad were about ready to withdraw big time funds all at once, nearly bringing the financial system to its knees.  Fortunately, Prime Minister Gordon Brown and his associates were able to quell the creditors from yanking their cash and sending the country into nationalization.  For their hard work, the banking system averted shutdown of ALL cash withdrawals and transfers.  The doors thus stayed open, and the commoner was none the more privy.

Kudos to Brown and his colleagues. 

Now to wonder.  If the UK was able to keep such such a massively important issue from its own people, would any other country, like say, the U.S., ever do such a thing?