Forum Post: How Best To Occupy Wall Street Effectively
Posted 13 years ago on Oct. 15, 2011, 2:23 a.m. EST by rapidash
(16)
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The best way to Occupy Wall Street without having to go there, is to withdraw all your savings from the banks right now. The system is 10% capitalized, mostly with Treasuries issued by the government which is essentially worthless. Since the top 1%controls 40% of the wealth, all we need is for a quarter of the 1% to withdraw their savings and the other three-quarters loses it all! Except the $250,000 which is guaranteed of course.
I urge everyone who protests the greed of Wall Street to put their money where their mouth is, and withdraw their money and keep it under their pillow. It will NOT affect your wealth, or the wealth of others in the 99%. It will only affect the wealth of the top 1%, because the $250,000 limit means that billionaires have to keep their money in 4,000 different banks before they are truly safe, whereas the rest of us do not face that problem. Keep the money at home, put it under the pillow, or transfer it to credit unions and smaller banks that are not "too big to fail" and see how far the fictitious wealth conjured by Wall Street can go. Or whether they would be in the position to ask the taxpayers for a bailout the next time.
This is without doubt, the best and most effective way you can protest Wall Street in a peaceful manner without infringing upon any one's property, or any one's wealth for that matter.
don't put your money under a pillow, you know that u.s. currency is no longer backed up by gold right? it's legal tender. it says that right on the paper notes. so that means that all it is, is paper. nothing less or more (if the economy does plundge, then all you can do is use it as tissue paper) people need to take there money out of corporate banks then invest back into the credit unions. look at smaller and local banks
I agree, a movement away from "too big to fail" institutions gives them less of an excuse to ask taxpayers for bailout money the next time.
Wow, good point! I'll consider that; right now my money is definitely in a "too big to fail" bank. That's a powerful move. The scary thing is I think it may have dangerous consequences
I just don't think that people are fully acquainted with the notion that 2005 to 2007 were bubble years that will never come back again whether or not we have a free market system or a socialist system, and its got nothing to do with laziness. The next few years should change the minds of a lot of people.
I agree with this, we should all withdraw our money and see what the 1% have to say about it....
if it is 10% capitalized and 1% own 80%, that leaves us having a 2% impact even if we all did it. this isn't even complicated math homie. please try harder.
uh.. Im sure if the 1% were savvy enough to earn their millions and billions they are not stupid enough to keep it in cash... probably in stocks, bonds, property etc
Helpful hint - once you withdraw your cash, buy gold or other currency because if you do this the value of U.S. dollars will collapse.
Before you protest Wall Street, you should understand it. I guess it is true that people are most afraid of that which they do not understand...
Good idea. Here are some more things that all of us can do: http://www.youtube.com/watch?v=cXdmNFNqaQc
My money has been in a credit union for decades. A better option than the pillow. ;-)
That is good, at least you are not keeping it in "too big to fail" institutions, but you could do better if the goal is to end the greed on Wall Street. All you have to do is leave the minimum working capital you need in there, and keep the rest at home. It will be the same for you just that it takes a little bit more effort.
Point taken. As a side note, I don't know a soul that keeps their money with BOA anymore.
oh ind mind and spiriit he is one of the 99% truly
sir richard branson would be a great leader in this cause
1%er can't lead the cause of the 99%ers
FDR did a pretty good job.
kind of funny how world war 2 is what brought the US out of the great depression, not FDR's programs.
what we really need are some nazis.