Posted on 01/10/2019 4:10:46 PM PST by DeoVindiceSicSemperTyrannis
Yellow Vest protesters are hoping to trigger a bank run with a nationwide coordinated cash withdrawal. By threatening the French financial system, protesters say, they want to peacefully force the government to pass their reforms.
“If the banks weaken, the state weakens immediately,” said Yellow Vest “sympathizer” Tahz San on Facebook. “It’s elected officials' worst nightmare.”
Protesters plan to empty their bank accounts on Saturday, withdrawing as much money as possible in a bid to undermine the French banks – if not the euro itself. The plan is to “scare the state legally and without violence,” forcing the government to adopt the movement’s Citizens’ Referendum Initiative, which would allow citizens to propose and vote on new laws.
(Excerpt) Read more at rt.com ...
Only two out of five of us can identify the three branches of government;
^ The old man is Dick Van Dyke!
This is an important development.
Central Banks are at the root of wars and social ills. More than you can know. Banking reform is critically needed and the Mockingbird press will never write about it.
If you see a line coming out of the door at your bank.........get in it.
The banks could limit the protestors to a maximum withdrawal of 100 Euros, or less.
I don’t know about Europe but here people could divest themselves of the stock market which would crash not only our own economy but the world economy.
After 3 years, Greece ends limits on bank cash withdrawals
https://apnews.com/57fcf1f4694a486aa4b7cd43095ae8ee
The economy is more than the stock market, it is largely the efficient movement of goods and services which do not need a stock market. Commodity futures markets are not the same as Wall St. stock exchanges which are tied to central banking liquidity accounts through Fed intermediaries which are the big banks.
The suffering would be a crashing of retirement accounts which were stupidly used to prop up Wall St. a couple of decades ago when pension liabilities were created through mismanagement and larceny.
Wall St. has now taken over retirements of millions of Americans which is akin to the fox guarding the coop. It should never have happened. It is a recipe for continued bad behavior. There should have been hard reform of pensions rather than ERISA legislation allowing the wolves of Wall St. to feast at the retirement accounts of millions.
In effect, the Central Banks have formed their own protection racket. It can crash and cause pain but POTUS won’t let it happen. But it should.
As for the American economy, it will be fine in any event.
What would happen if millions of Americans cashed out their retirement accounts and bank accounts at the same time? Let’s say around 5-10 million?
Oh dude. That is scary.
LOL, you win the internets for the whole day! Maybe you’re right. I just wonder if a stampede would happen or of people would notice their debit cards still work just fine.
> “What would happen if millions of Americans cashed out their retirement accounts and bank accounts at the same time? Let’s say around 5-10 million?”
There would be PAIN, every which way.
The scammers on Wall St. hold America retirement accounts hostage. They are in effect saying “screw with us and the retiree gets it, capisce”?
And just like kidnappers, any rescue attempt of hostages risks murder of the innocent. The same human vice behavior is in play here.
But the scammers wear suits and get nice haircuts, hang out with the Bush league, country clubs, elite memberships, and so on. And they are expert at talking gobbledegook. They are the used car sophisticate class.
Retirement pension funds, at least the private ones, have been trashed and put down in favor of Wall St. scam schemes.
For many, many, many decades, the retirement system shut Wall St. out for good reason and based its pension fund investments on solid investments like gold-backed insurance bonds or US 30-year treasuries. Ordinary employees couldn’t purchase say a $50,000 treasury on their own so employers pooled employee retirement funds so that the employee group could afford the valued investment instruments. This system worked well when there were moral standards and reputable actuarial firms that would oversee pension funds. But employers appointed themselves as executors, as representatives of the employee’s pension funds. When a company would flounder, the appointed pension executive would siphon funds ostensibly for survival of the company while granting themselves special dispensation. In other words, they stole it fair and square.
Instead of legislating to allow Wall St. to eat the retirement carcass, Congress should have passed draconian law on the executor class that in effect would say “you touch it, you die.” A company could go belly up but at least employees would have their pensions in a safe status.
So what we have today is a bunch of Wall St. knuckleheads pressing a gun on the retiree saying “move and he gets it.”
This is something everyone should be aware of.
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