What will happen when our banking system collapses totally? (loan, real estate, credit rating)

[Timothylogan3]

So what will happen when our banking system fails altogether? I mean can it fail altogether?

[evilnewbie]

It will be socialized before it will ever fail... and yes, that means you will pay a salary of millions of dollars to CEOs of these banks... isn't it nice?

[Timothylogan3]

But what if, lets say for argument sake, we are already caught in a course that will, inevitable, lead us to a banking system failure, what will happen when this happens?

[J Arp]

Originally Posted by Timothylogan3

But what if, lets say for argument sake, we are already caught in a course that will, inevitable, lead us to a banking system failure, what will happen when this happens?

I'll trade you three cows for your Toyota.

[nightbird47]

Originally Posted by J Arp

I'll trade you three cows for your Toyota.

That happens before when you have an empty bank account but you do have the Toyota.

I know people who are buying things which are easily tradeable should they need to go to this "bank".

[ViewFromThePeak]

Originally Posted by Timothylogan3

So what will happen when our banking system fails altogether? I mean can it fail altogether?

Got physical precious metals or commodities?

No? Shoot, it sucks to be you.

[texdav]

Basically everything will collapse. If you think its bad now then you definely don't want to see that.

[Barkingowl]

You think the cops have a slow response time now, you ain't seen nothing yet.

[oleo]

It won't.

[carp killer]

The banking system has just about collapsed now. I just spoke to a real estate friend who said he has a buyer who has a high 700 credit rating, husband and wife both have good government jobs and have 25% down....AND THE BANK IS HESITATING ON THE LOAN.

This is why the economy is going down. The banks are scared to loan to anyone, even good safe buyers.