No less than Fortune Magazine has let us know that a run on European banks is very possible, and Irish banks in particular to begin it.
In its latest issue Fortune magazine has stated that a run on European banks in 2011 could happen and that Ireland could lead the way.
Correspondent Colin Barr Barr wrote in an article entitled “ 2011: Year of the Bank Run?” that there was a major chance that a run could happen and it would start with Ireland.
“Irish bank deposits declined in November for the fourth straight month, the central bank said last week,” he pointed out.
“Overseas deposits fled the country at their fastest pace in more than a year.”
All this is making Lindsey Williams look very good.
If it happens, and the Euro collapses, he says you have maybe two, outside three, weeks to get everything out of paper. America will be next.