Forum Post: How about some 'monetary disobedience'
Posted 12 years ago on Oct. 23, 2011, 5:02 p.m. EST by drbob
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As the news media eventually gets bored with this important movement some addition notoriety will be needed. Taking advantage of Gandhi's civil disobedience approach, how about we work some 'monetary disobedience'?
Some thoughts on that line
- Put out a request for everyone to move all their money out of commercial banks and put it into credit unions, which are non-profit and owned by the account holders.
- Where ever possible, use a debit card instead of a credit card for purchases.
- Take one credit card and destroy it. Better yet, have a global card burning event. Loss of income from even a few percent of the cards out there will get the big banks attention.
I am sure others can come up with similar thoughts on monetary disobedience.
Dr. Bob
Pay with cash
Excellent start!!!
Careful with debit vs credit. Debit cards don't offer nearly the level of consumer protection against fraud as credit cards. And unfortunately, those that offer the least protection are usually those issued by credit unions.
Silly, because most Americans adopted these measures three of four years ago. You want to know why I've always used a credit union? Free checking. Want to know why I have no credit card balances? 29 plus % rates. Want to know why I've adopted a voluntary austerity? Because I want an end to the Walmarts.