Forum Post: YANK the BANKS
Posted 12 years ago on Oct. 4, 2011, 11:13 p.m. EST by KiriofGreenfield
(21)
This content is user submitted and not an official statement
What would happen if we all withdrew our money from the banking system?
Could we reinvest - let's say just our checkings and savings accounts - in local institutions that support local community infrastructure?
Could we reinvest in local food banks? Local farms? Local schools?
What if we all yanked, right now?
Would it cause innocent people pain and suffering? More than they (we) are already undergoing?
Could we put our money instead into supporting those in real need in our own communities?
I think it could stop the machine pretty cold. Maybe it could save the planet and the human race.
Somebody inform me - is this a good idea?
love, an overworked mom.
It's the simplest way to make collapse a bank already. A bank never got enough supply to pay whole owned money from costumers, this is how banking works. For this reason banks declare how much money they can afford in an economic cris, like %40 of cash money of costumers guaranted in their stock. If all costumers claim their money from a bank in cash, it will be bankrupt or will be needed credit from goverment. But this makes an economic cris bigger and inflation. And inflation means your withdrawed money will got less value.
If you guys are a big crowd enough to make collapse a bank, and if you really want a revolution and don't care about the inflation and other economic difficulties which's gonna effect you also. Just do it.
Greetings from Turkey. Sorry about poor english. Anyway i support you guys.
Hello to Turkey! Tashekur Ederim for your post! Send out our solidarity with the whole world in this! We need each other right now, more than ever!
Yes, I think we should collapse the banks, especially the top four: Citigroup, Band of America, JP Morgan Chase and Wells Fargo. Everybody spread the word!
I took my money out of Wells Fargo last year and put into Wescom credit union. I don't even notice the difference except it's closer to my house.
Simply pulling your money out of banks will not accomplish much. The money masters already have too much power (hyperinflation - unlimited printing of the dollar via the FED)
I think its a great idea. It would really make an impact.
during the last depression , the us government outlawed the owning of gold. also presently we appear to be in a gold bubble. like the housing bubble-that burst--
I was under the impression that since money is a flimsy concept, that if everyone took their money out there wouldn't be enough to pay up and the banks would close.
Hmmm, don't we already have high unemployment and economic depression?
Hi,
No, a run on the banking system would not be productive. Bank runs are generally followed by high unemployment and economic depression.
All deposits are Federally insured up to 250K anyway.
Take all your money out and put it in gold and silver, it's not affected by inflation and there are no fees charged on it.
If you are worried about the value of the dollar I would follow Julian's advice.
I am not worried about the value of the dollar, I am worried about the value of LIFE. My question is; would this stop them?
My question comes from the concept of DIRECT ACTION AT THE POINT OF PRODUCTION. Our most personal, direct point of production is our monetary support of the system. Our most direct action is to withdraw it.
The Federal Reserve can print an unlimited number of dollars. If you take yours out, they will just create new ones to replace them.
What will happen is ... nothing, because this a fringe movement with too few supporters to make a difference.
Invest in "local institutions that support local community infrastructure"? Really? You pay taxes, right? My town takes $700/mo from me. How bout yours? Half of the 99%ers pay NO taxes. Time to step up.
glooskap, you just said you were part of the 1% just two hours ago on the 100-1 thread, and that you'd like to stay there. So as far as I'm concerned your voice here is now invalid.
glooskap on 100-1: rebalance income equality thread: "It will limit CEO pay, but not increase worker pay. When will we all realize that vilifying the 1% and punishing them will in NO way improve the individual workers situation. At all. Maybe it will make you feel better, but is that virtuous? Do any of us care whats right? Right is not defined by equal discomfort and pain. Time for bed. I have a job and strive to stay in the 1% while you'll let me."
I am. Nowhere above do i claim to be a 99%-er. Dont invalidate my views because you disagree. The movement should consider all viewpoints.
How rich are you?
Rich enough that everyday I wake up with a financial and philosophical bulls-eye on my back, placed there by the Obama administration and the vast majority of your movement.
Wow I'm sorry about that. It's not fun to feel threatened. Maybe in that way we have more in common that you think.
What do we have in common? We both breathe.
What do you mean? Please don't be snarky. I am trying to think of ways to effectively disconnect and create anew. I'm thinking more of grassroots local institutions. Time to step up where?