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Forum Post: Let's get more control over our bank deposits

Posted 12 years ago on Nov. 18, 2011, 4:05 p.m. EST by ruralsupporter (0) from North Arlington, NJ
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I read the OWS movement is depositing thier money in certain banks which they deem trustworthy, such as Amalgamated in California; but that certain wealthy depositors in the bank are, or in the future may be, demanding that bank funds be invested in highly risky in- struments such as mortgage backed securities. This is going to be a continual problem. At the moment, the OWS movement does not have enough money to significantly fund a bank with only OWS deposits, so the wealthy investors have more leverage.
I think we should look to trying to gain more control in the near future. We should all agree to put, not only our donations, into one or a very few banks; but also all agree to do all our personal banking at these banks (or credit unions). In fact, we could even start our own bank or credit union. Our combined assets (especially as the movement grows) should be enough to support a bank completely. Once we have enough money deposited, we should make it a rule that the bank provide complete transparency of all its investing activity to all of its members--otherwise, we take out our deposits and go elsewhere.



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[-] 1 points by beniquin (2) 12 years ago

El sistema de la Reserva Federal es un sistema monetario privado creado el 23 de diciembre de 1913 y sus dueños son las familias Lehman, Goldman, Sachs y Rockefeller de Nueva York; los Rothchields de Londres y Berlín; Lazard de Paris; Israel Moses Seif de Italia; los Kuhn, Loeb y Warburg de Alemania. Los ciudadanos no son propietarios del dinero de la Reserva Federal, el ciudadano paga una tasa prima de intereses del 5% por todos los billetes de la Reserva Federal en circulación anualmente lo que causa automáticamente un 5% de inflación cada año. La Reserva Federal tiene el monopolio de la emisión de dinero en Estados Unidos y sus políticas afectan a todo el mundo. Esa es la raíz del problema, la sinarquía dueña del poder económico y político y del Estado. http://dianaduquegomez.blogspot.com/2010/09/por-una-sociedad-libertaria-diana-duque_19.html

[-] 1 points by AdamForChange (9) 12 years ago

Hello (Sussex Co., NJ boy here);

I think that would be an incredible idea. To me, a bank is meant to do two things; make loans, and pay interest. Of course, there will always be some fee for the loan, but I too am thinking pulling my funds out of my investment bank to instead focus it on a community bank. I think the founding of a Occupy credit union with simple rules and no risky investing practices. If you hear of one or recommend a good national credit union, I'm all ears.