Crowd sourced Bank run Dec 7th

sam_uk · Post by **sam_uk** » 19 Nov 2010, 19:20

Eric Cantona seems to have started this
http://dailybail.com/home/eric-cantona- ... un-on.html

On the French Facebook page; 11,000 confirmed attendees, 87,000 waiting for reply http://www.facebook.com/event.php?eid=101996426533405

On the UK Facebook page; 2,884 attending 38,575 Awaiting reply
http://www.facebook.com/event.php?eid=137793666269183

I reckon that if even a quarter of that many actually carry through, and it gets some media attention, which in turn gets some media attention, which in turn gets some more media attention..

That could really F--k some stuff up..

JohnB · Post by **JohnB** » 19 Nov 2010, 19:32

If it's big enough to get media attention, and cause some changes that benefit the majority of people, but not so big that it causes a banking crisis, it would be great. If it causes a crisis that affects bankers I don't care, but however bad the system is, we need it to fail in a way that doesn't harm us ordinary people.

sam_uk · Post by **sam_uk** » 19 Nov 2010, 19:39

JohnB wrote:but however bad the system is, we need it to fail in a way that doesn't harm us ordinary people.

I agree, I was hoping for a withering away rather than a crunch..

I guess it's unlikely this will gain much traction, you can never be sure.

Tawney · Post by **Tawney** » 19 Nov 2010, 19:44

A long-term hemorrhaging of money from the core banks would be just as effective as a sudden bank run; though I suppose we’d soon find that strict withdrawal limits would be applied.

Is it wise though? The whole financial system is a tower of cards. No western country is ever going to repay their debts, but the theory is that it doesn’t matter so long as they keep rolling over the loans. Old debt is paid from money borrowed from new creditors.

A successful campaign might starve banks of the new funds they need to keep the system going. Or is that the point? “Timber!!!”

.

JohnB · Post by **JohnB** » 19 Nov 2010, 20:36

I'd rather wait until after I've got my money out of the system, but it's stuck there while my project is on hold. I'm not emptying my current account, as it's with the nice Co-op!

Mean Mr Mustard · Post by **Mean Mr Mustard** » 19 Nov 2010, 20:54

JohnB wrote:I'd rather wait until after I've got my money out of the system, but it's stuck there while my project is on hold. I'm not emptying my current account, as it's with the nice Co-op!

Likewise. But a scary thought occurred. Do the Co-op go in for this interbank lending malarkey? Therefore my humble stash might be exposed to the global *ankers...

I shall ask some questions in the branch soon.

Mean Mr Mustard · Post by **Mean Mr Mustard** » 19 Nov 2010, 21:03

Course, all it would take would be for 40 of we militant anarchist PowerSwitchers to gather outside a nominated evil *ank branch, and just form a nice orderly queue outside, while adopting anxious expressions, but actually making various innocent enquiries about opening accounts and routine stuff like that, then rejoining the queue. But watch the street reaction...

Panic the locals on Pearl Harbour Day.

Nothing to see here, move along...

featherstick · Post by **featherstick** » 19 Nov 2010, 21:13

Mean Mr Mustard wrote:
JohnB wrote:I'd rather wait until after I've got my money out of the system, but it's stuck there while my project is on hold. I'm not emptying my current account, as it's with the nice Co-op!
Likewise. But a scary thought occurred. Do the Co-op go in for this interbank lending malarkey? Therefore my humble stash might be exposed to the global *ankers... I shall ask some questions in the branch soon.

No they don't. Nor do Triodos. Thankfully.

Lord Beria3 · Post by **Lord Beria3** » 19 Nov 2010, 21:35

Or you could buy gold which has nothing to do with the *ankers!!

Vortex · Post by **Vortex** » 19 Nov 2010, 22:23

Go on admit it - you're RGR aren't you?

snow hope · Post by **snow hope** » 19 Nov 2010, 23:07

Lord Beria3 wrote:Or you could buy gold which has nothing to do with the *ankers!!

Except I bet all the *ankers have bought gold....... wouldn't want to be in the same club.

Lord Beria3 · Post by **Lord Beria3** » 20 Nov 2010, 16:12

snow hope wrote:
Lord Beria3 wrote:Or you could buy gold which has nothing to do with the *ankers!!
Except I bet all the *ankers have bought gold....... wouldn't want to be in the same club.

The superrich billionaires are buying gold, your typical banker is still stuck in the world of paper money... the great thing about gold is the lack of counter-party risk, you don't need to pay a bank to buy gold and keep it.

Its totally seperate from a totally f***ed banking system and the bankers who are paid to maintain a bankrupt system. You can see why bankers hate gold.

RenewableCandy · Post by **RenewableCandy** » 20 Nov 2010, 16:29

Dear god, Beria you're new here aren't you?

The super-rich are buying Land.

Mean Mr Mustard · Post by **Mean Mr Mustard** » 20 Nov 2010, 16:40

Mrs Mustard keeps a small balance in a building society, one of the few still not a bank. Today, she got a letter advising that the Financial Services Compensation Scheme can (not will?) protect deposits of up to £50k per person. And what's more, that limit is going up to the £ equivalent of € 100,000 from January.

With all this talk of withdrawing savings, a coincidence, surely.

Mean Mr Mustard · Post by **Mean Mr Mustard** » 20 Nov 2010, 16:46

RenewableCandy wrote:Dear god, Beria you're new here aren't you?

The super-rich are buying Land.

And in large quantities, too.

http://www.irishcentral.com/story/roots ... 94804.html

The Irish property website is called Daft? Kinda figures.