Forum Post: "Running on the Banks", Nov. 5, 2011 (like running of the Bulls, the Wall Street Bulls!)
Posted 12 years ago on Oct. 8, 2011, 5:27 p.m. EST by hemajang
(23)
This content is user submitted and not an official statement
November 5,2011, "The running on the Banks". Be there to withdraw from the big banks like but not limited to:
- Bank of America
- Chase
- Citicorp
- Wells Fargo
Remember, "Tuppence, tuppence," in Mary Poppins.
Michael: "Give it back! Gimme back my money!"
Be waiting at the door of your local branch; wait for them to open.
This is a great idea to suggest a concrete action that anyone who still has a bank account or any cash remaining in it can participate in from anywhere. Credit unions are a good place to switch money to as they are likely to invest in the local community, less likely to invest in bad things like mountain top removal coal mining projects. There is even a permaculture credit union out of Santa Fe that makes loans to people building non traditional ecofriendly homes that regular banks have not been willing to loan for. They have a good record for their customers paying back their loans too. Like many people who support the aims of occupy wallstreet I have wondered what actions I can take that might actually be effective. I live in a rural area where it is a long way to most protest gatherings and I have neither the extra gas money nor the time these days to be gone long or far from where I live. I also try to minimize my carbon footprint. I think another reason the crowds are not larger yet is that most people who support the cause are working more hours for less money when they can get work at all, and cutting as many costs as possible. A large number of us are making ends meet working a few hours here and there. For the self employed it is always a scramble, but much more so now. It all pays less than it used to, but we are grateful to have work when we find it. Much gratitude to all Occupiers and supporters for getting this ball rolling. It's what the world needs. Flick
This is what we need! Deal direct blows to the business and corporations we want to learn a lesson!
example: go ask a bank for a mortgage, they get a note from you for lets say 100,000 bucks. that note goes as an asset on their books then they cut a check to you for 100,000 bucks that goes down as a debt. ( double entry bookkeeping) Duh! you just funded your own loan. then the Bank sells your Note for 35x the original value through fractional reserve banking. savings deposits are chump change to these crooks.
Seriously, this tactic will never work, the banks make way more money selling loans, because they sell your promissory notes as an asset. people dont know how the system works. Just like people do not know they fund their own house loans
Why do you suppose that when a bank is in trouble, what do they do? They lock the doors.
Au contraire. Banks need working capital just as any business. Remove enough of it and...
Well, this is one way to hasten our journey down the fiat currency drain of history...
moving your fiat based monetary instruments from one commercial bank to another commercial bank will not solve the problem it will just kick the can down the road. we need a movement that will kill the international banking cartels control over our monetary system here in America. Henry Ford once said " It is well enough that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning"... Well Henry, tomorrow morning has arrived Because the American people now know how the banking and monetary systems work in this country and I am one of them. I know where the wealth of the American people is hidden!
And where is it hidden?
various trust funds administered by governments both state and federal. The funds got there through the certificate of live birth your mother signed in your name at birth. The credit on your future earnings was bailed to your state of birth and you were supposed to claim it when you turned 21. But, We the People are never taught this on purpose, so that our funds may be used by international banking cartels and their puppet government corporations for their private projects.
I have already moved my own funds out from Wells Fargo. Your turn.