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Saturday, June 27, 2015

Bank run in Greece





Wow! As a former vault supervisor at Washington Mutual each ATM could hold an absolute maximum of $20,000 per cartridge with 4 cartridges per ATM. That's $80K per ATM if completely stuffed full. Typically we would cut out a handful of bills in each cartridge to prevent jams. So although they could hold $80K most were holding in the low to mid $70K. On normal weekends it wouldn't be unusual if one ATM ran out of cash. With a bank run, and lines like these at 1AM I would suspect most bank ATMs will run out very quickly.
IsItFlowing

If everything collapses and there are capital controls and you aren't allowed to take much money out of the country, that's when bitcoin really shines.

LOL! There is a queue even at the ATM inside the Athens parliament!

Bank run - queue even at the ATM inside the Athens parliament

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