Forum Post: Occupy Banks a bad idea, yet it is posted in news section
Posted 13 years ago on Oct. 14, 2011, 10:29 a.m. EST by DArmstrong
(4)
This content is user submitted and not an official statement
Can someone explain why OccupyBanks is a good idea. The way I see things is that if we withdraw cash, the bank fails. FDIC steps in and sells the bank to a larger bank for pennies on the dollar and the larger bank makes millions. If a larger bank doesn't buy the closed bank, the FDIC borrows money (because they have little reserves right now) to pay all of the insured. That money is borrowed from the larger banks at interest in which case the larger banks make millions. My assessment is OccupyBanks is good for banks, not for our movement. All intelligent discussion welcomed, please include references.
Occupy call your neighbors, friends, families, and anyone you know who uses the big banks. Tell them to take their deposits out and put them in a local credit union or small bank Oct. 29th 2011.
That's the start date of the G8 meeting. The G20 meets Oct 23. We can try for that date if we act fast enough!!! (finance ministers and central bankers of the world’s twenty richest nations, called the G20 [eight richest called the G8])
If you want to get 6% interest on your savings up to $50,000 deposit the funds in Inter National Bank's savings account here: https://www.mangomoney.com/
When it asks for a referral code during the signup process use 6304504154