Forum Post: Why a mass withdrawal / termination of major bank accounts is a bad idea
Posted 13 years ago on Oct. 12, 2011, 4:10 p.m. EST by Bravery
(5)
from Palm Desert, CA
This content is user submitted and not an official statement
Correct me if I'm wrong (in which case I hope I am)
But banks make a business by making loans out to people with interest. Banks get that loaning money from savings accounts they also have. Because the money comes from the same pool, people who suddenly withdraw all their money from the savings account is not guaranteed the full amount because some when out as loans to other people. However, the banks are obligated by the fed to have that amount ready. This is where the federal reserve comes in. The reserve 'bails out' the bank in danger because the money is not available, prints paper value money, allowing the bank to give the person who made the withdraw his/her money back. However, the money being printed out is nothing but paper, and the value decreases as there's more (worthless) money in circulation in the country.
There are two possible outcomes if this is true.
Banks get bailed out by the federal reserve, inflation of the dollar increases, another bank buys the failed bank because its job is to collect the debt on people that have loans by the previous bank. National debt is increased, taxes are raised to collect the debt (in which everyone pays for, not only the person who made the loan).
Banks get bailed out by the federal reserve, inflation of the dollar increases, another bank buys the failed bank because its job is to collect the debt on people that have loans by the previous bank. National debt is increased, taxes are raised to collect the debt (in which everyone pays for, not only the person who made the loan). Congress wakes up and puts stricter regulations on banks to separate pools of money the bank may loan to people, banks start charging people for starting savings accounts rather than offering them interest.
I think that, United, the 99% need to refuse the Credit System and bring the Banks to their knees so they will relinquish control of the Government back to the People. We need to stop paying our mortgages, car loans, insurance, medical bills, student loans, etc. We need to pull our money out of the Stockmarket, bonds, 401k's, etc. We need to show the Banks that We stand against their corrupt system of Capitalist Governance and that we want our Democratic Republic back. We do this not to get rid of Capitalism, or to punish the wealthy with new taxes, or to bring in any kind of Socialism. In fact we do this to remove Socialism for the wealthy 1% and have them return to the Capitalistic economy we live in. But, Capitalism is not our system of Government. So We the People have to rise up and fight this Financial Revolution. We have to play chicken with the economy on the brink of destruction and force the Banks and their Corporate pawns to leave our Government alone.
We have to remove the banks from the equation so that when the Government handles the resulting shit storm they can do so without the puppet strings of the 1%.
http://occupytogether.com/forum/discussion/comment/1234#Comment_1234
someone answered my question i guess
Pretty much true, but the reason I would support it this:
Then it will wake people up to the bare fact:
The bank will be bailed out with printed money, and it will be laid on the people as more DEBT!
Once people realize that they already owe the central bank for the dollar they just earned, it's game over. You owe it, plus interest, before you can even earn it!
Wake up, people. This issue trumps everything.
sorry but what does that have to do with what I typed?
Also i've seen plenty of conspiracy videos (zeitgeist included), but I also see both sides of the story. While some of the messages in the movie were true, many more were false / debunked.
That may be a long term consequence in a situation free of context. Encouraging everyone to pull their money out on the same day is an idea that is very easy for common people to do, its not illegal, and it would make the banks $%&t their pants. This idea should be used once a concrete "list" of demands is finalized. I think its a trigger that would never have to be pulled if they believed us.
Please watch, this is eye-opening: http://www.youtube.com/watch?v=PNRVRbpJMP0
http://www.occupytogether.org/discuss/#/discussion/463/why-a-mass-withdrawal-termination-of-major-bank-accounts-is-a-bad-idea