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Forum Post: Big Banks are Scared You'll Implement This

Posted 13 years ago on Oct. 20, 2011, 9:15 p.m. EST by DeadHand (45)
This content is user submitted and not an official statement

someone else's post....quite interesting....

"1.Get a large number of the "average Joe," non-professional people currently trading to STOP trading (buying and selling stocks) in the financial markets (because they are almost certainly gambling their money away). 2.Get a large number of Americans to take their retirement moneys OUT of "actively managed" financial funds (most mutual funds, etc.) and into market index funds (which are "passively managed" but perform better than 80% of all "actively managed" mutual funds). It is a well-known fact that most Americans would be making more money on their investments if they took their money out of actively managed mutual funds. Most Americans just don't know about how they're getting ripped off! See: http://articles.businessinsider.com/2011-08-14/news/30047425_1_index-funds-star-funds-mutual-fund; and http://finance.yahoo.com/blogs/daily-ticker/most-mutual-funds-ripping-off-says-ifa-mark-20110412-105137-183.html 3.Get 5% of Americans to take their money OUT of the big banks and into community banks or, better yet, Credit Unions! Because banks hold such a low fraction of cash reserves for their obligations, this one step could virtually shut down all the big banks. To avoid a catastrophic collapse of the banking system, the transfer would take place GRADUALLY, which is by far the most likely thing to happen anyway. Update: It seems there's already a group doing this at: (http://moveyourmoneyproject.org/)."

9 Comments

9 Comments


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[-] 1 points by DeadHand (45) 13 years ago

chase bank of america citibank

read how awful they are....esp bank of america

[-] 1 points by cmt (1195) from Tolland, CT 13 years ago

Brilliant! Scares the big banks and improves your personal financial life at the same time!

[-] 1 points by DeadHand (45) 13 years ago

lol this story shuts down all trolls on the spot. the corruption is so enormous they have No possible response

http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/10/20/bloomberg_articlesLTBZHS1A1I4J.DTL

[-] 1 points by DeadHand (45) 13 years ago

not shutting down all the banks................try and read : )

rael, you think its better for the average joe that the bailouts will continue? I refer you to bloomberg news' story regarding Bank of America attempting to get the FDIC to

insure

up to 57 trillion dollars

that B of America moved into its retail division

go look it up and tell me that is better

moron

[-] 1 points by Rael (176) 13 years ago

Yep, because shutting down the banks has always worked out well for the average Joe...

[-] 1 points by DeadHand (45) 13 years ago

lol this scares the crap out of them

[-] 1 points by Mooks (1985) 13 years ago

To say that the average joes are "almost certainly gambling there money away" by investing in stocks is pretty naive. There are plenty in the 99% who make good money in stocks and bonds.