Warning:Banking Holiday In Panama Announced


(Randy Hilarski)  This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October. The National Bank of Panama says that the reason is to upgrade systems. The Banking Holiday in Panama was announced this am.

This system wide shutdown has country wide implications. The National Bank of Panama did not warn the people before making the announcement and shutting down the banks. The people do not have access to ATM’s either. We received word of this from family members first. This weekend is payday for people across Panama.

I am active among the Gold and Silver investing community. We have been discussing at great length about the possibility of bank holidays in countries on the Dollar standard. Could Panama just be the first domino to fall in the banking system? Could this be more than just a system upgrade? Why not tell the people ahead of time to prepare for the closure of the banking system?

What are some reasons for a bank holiday? The National Bank of Panama says it is a system upgrade, I don’t believe it is that simple. Maybe a Dollar revaluation could be coming soon. Maybe it is something more serious like a banking crisis like we had in Indonesia back in 1997 or more recently in Cyprus. I am hoping for the best and preparing for the worst.

What are some things you can do to protect yourself if Panama is just the first signal of a pending banking crisis? First and foremost make sure to have some cash. Second buy the essentials for your family. Be frugal until the storm passes. I know this sounds simplistic, but those who are prepared will be fine.

I feel for the Panama families who live paycheck to paycheck. They were expecting to be paid tomorrow. This is the time that they go grocery shopping, put gas in their cars and pay the bills. This delay will have wide ranging affects on the people of Panama.

Do not be unprepared, you have it within your power to be ready for such a situation!

This story was first seen on Gold Seek

  • Meathead

    Standby, folks, this is going to be the new “normal”. What would YOU do if you woke up tomorrow morning and your debit and credit cards didn’t work at the ATM, at the gas station, at the grocery store? You simply could not purchase anything without cash and the value of the dollar was rapidly falling and prices were soaring. Couldn’t happen? Tell that to the Germans who lived through the Weimar Republic Mark disaster. Or, Zimbabwe a few years ago.
    It’s coming, citizens, and those who are prepared will survive while those who are not will perish!!


    agreed, 99% of Americans are not prepared….it will be chaos

  • Bob Nona

    There is a world reset of currency’s taking place in the very near future. The FED is ending and we are going back to a gold backed currency. Look at Basel III and the IMF (International Monetary Fund).

    I’m not afraid and i will not be controlled by fear. People tend to look for the worst case scenario and chaos.

    There is a big change coming for all and it’s called Freedom!

    There is nothing to fear but fear itself…