Forum Post: Massive Withdrawal - Occupy Wall Street Phase II
Posted 12 years ago on Oct. 13, 2011, 5:09 p.m. EST by MassiveWithdrawal
(4)
from New York, NY
This content is user submitted and not an official statement
MASSIVE WITHDRAWAL| Occupy Wall Street Phase II
Show the commercial banks the potential power of the 99%
ACTION: Massive Withdrawal
HOW: All 99%ers withdraw $100 (or what they can spare) from the bank.
WHEN: Monday October 31st Halloween at 12pm noon EST
VISION: A scary Halloween for corporate America: Demonstrating to the commercial banks the potential power of the people.
Are you with me?| Pass it on:
Voting with dollars is for the rich. We vote with bodies. This is the wrong way to go about showing strength. The power of the majority lies in the movement of bodies. It is in telling those with money that their power is a fragile thing when confronted by a movement of the people.
The businesses that you're protesting don't care very much about people who don't have dollars.
I don't think it's wrong. One thing doesn't exclude the other thing. You can move your body and move your money. Even if you have very few money, but if you move it in an organized way, together with the other millions of people who have very few money, the big banks will feel the pain.
An organized run on the banks as a way of protest was never tried before. It's a very creative idea.
Well not a run in the sense of taking out all your money from your bank....for now.
Just move accounts entirely to a local bank? Pull your $ from JP Morgan Chase & Bank of America. It will make a difference even if you don't have much $. The banks will lose out on the millions of dollars in small fees that they charge you each year.
How about moving money to a local credit union?
Hear hear! Hit the banks where it hurts! Move all your money (if you're lucky enough to have any) out of "for profit" banks and into "not for profit" local credit unions now! Same with credit cards. Switch to credit union cards or better yet, cut them up and just stop using credit cards entirely. Pay cash!
Inadequate numbers now -- bide your time, wait for it.
Even 100,000 sympathizers pulling Benjis only add up to $10m -- many, many banks could take a hit like that without blinking, and the impact would be spread across the entire country's banking system -- it would vanish without a trace into the margin of error on the bean-counters' charts.
My advice? Withdraw a bit less, and buy a blanket or a coat or warm pants (thermal undies!) for an Occupier -- denim doesn't hold in heat if it's damp. Cold noses and warm hearts are our wealth, our investment in the future.
You have a good point, although we can't all stand out in the cold. This action is meant to be the next step, to hit the financial system in an organized, targeted way. Protesting on the street is good too, keep it up! We need to reach a consensus at some point as to what we want reform to look like for America. Keep it up!
Take it all out and switch to a credit union.
We are voting with our money that is deposited with the banks, the 99%, this is not the rich doing it, it's us, we have that power, we are the CUSTOMERS, and the CUSTOMER is always right?
How else do you propose to send a scary message to the banks? By people literally occupying banks? I mean you could but..
I'm not calling for a run on the banks - like withdrawing ALL of your money. Just a small but cumulative effective way to send the message.
Causing another financial crisis is going to help ... how?
Remember the underwear gnomes from South Park?
I think the idea is move the money out of the "bad big banks" and into preferable "credit unions" or even "small local banks". Sounds like voting with your dollars to me! It may be a crisis for the big bad banks, but it'll be a boost for the good ones!
Just be done, withdrawal everything. A run on the banks is what we need. That will get their attention.
This can work...everyone ...tomorrow at noon...withdraw 100 dollars
297 million in the 99% * $100 = 29.7 billion dollars. We CAN do this!!