Had Enough? Time For A Boycott! ~ KARL DENNINGER

peaceandlove · 10-20-2009, 11:13 PM

Had Enough? Time For A Boycott!

Tuesday, October 20. 2009
Posted by Karl Denninger
http://market-ticker.denninger.net/

Have you had it with the scams, frauds, "mark to myth" and lies?

Tired of this sort of garbage - being punished for being responsible? Latest bank fee is for paying off credit card on time every month http://www.usatoday.com/money/perfi/...card-fee_N.htm

You may believe that your exemplary behavior shields you from unexpected credit card fees. Sadly, that is no longer the case.

You can stop it.

Yes, you. (CAN) (PaL COMMENT)

All 330,000,000 of you.

Here's how.

Go withdraw all your money and business from the following institutions:

Bank of America
Wells Fargo/Wachovia
Citibank
JP Morgan/Chase

Those four.

Place your business with a local community bank or credit union in their place, and tell the above four institutions to "**** off."

I've resisted doing this, but the idea that banks are now going to try to penalize those who do not carry balances or pay late fees is the last straw.

This is a call for a boycott.

A call to break these institutions by destroying their deposit base and "net interest margin", one consumer at a time, as a protest against the outrageous actions these firms have taken in terms of risk and their shifting of the costs of that risk, which should have resulted in their failure and closure by The FDIC and OCC, onto the backs of their customers via outrageous fees, interest rates and costs, along with the direct subsidy being paid by all taxpayers generally.

CONTINUES: http://market-ticker.denninger.net/a...-Boycott!.html

SEE ALSO THIS PREVIOUS POST

CALL for a National BANK BOYCOTT Bank of America by KARL DENNINGER
http://www.projectavalon.net/forum/s...ad.php?t=16667

TRANCOSO · 10-21-2009, 03:32 AM

This plan can only work when the capital that is drawn out of the accounts is big enough to make small banks so 'healthy' that they become independed of the Fed & have at all times a very large cash reserve, so they can withstand a possible 'run' on the bank by their customers. Because they will fall over & be 'bankrupt' otherwise, which could cost a lot of people their savings.
If I was an American with money in a bank, I would withdraw it & buy pure gold (South African Kruger Rands) silver or platinum.
The dollar ain't worth the price of the paper it's printed on.

Christo888 · 10-21-2009, 03:54 AM

Quote:

Originally Posted by TRANCOSO

The dollar ain't worth the price of the paper it's printed on.

Ya it even says 'Note' on it; a debt note

... like we get a note from our teacher for credit towards schoolwork.

MargueriteBee · 10-21-2009, 04:51 AM

I agree. I paid off almost all of my debt and don't want to get charged for just having a card. I am closing all credit card accounts. Man, they nickel and dime us to death!

I think we should boycott all corporate products; just don't buy any of it.

10-20-2009, 11:13 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Had Enough? Time For A Boycott! ~ KARL DENNINGER Had Enough? Time For A Boycott! Tuesday, October 20. 2009 Posted by Karl Denninger http://market-ticker.denninger.net/ Have you had it with the scams, frauds, "mark to myth" and lies? Tired of this sort of garbage - being punished for being responsible? Latest bank fee is for paying off credit card on time every month http://www.usatoday.com/money/perfi/...card-fee_N.htm You may believe that your exemplary behavior shields you from unexpected credit card fees. Sadly, that is no longer the case. You can stop it. Yes, you. (CAN) (PaL COMMENT) All 330,000,000 of you. Here's how. Go withdraw all your money and business from the following institutions: Bank of America Wells Fargo/Wachovia Citibank JP Morgan/Chase Those four. Place your business with a local community bank or credit union in their place, and tell the above four institutions to "** off." I've resisted doing this, but the idea that banks are now going to try to penalize those who do not carry balances or pay late fees is the last straw. This is a call for a boycott. A call to break these institutions by destroying their deposit base and "net interest margin", one consumer at a time, as a protest against the outrageous actions these firms have taken in terms of risk and their shifting of the costs of that risk, which should have resulted in their failure and closure by The FDIC and OCC, onto the backs of their customers via outrageous fees, interest rates and costs, along with the direct subsidy being paid by all taxpayers generally. CONTINUES: http://market-ticker.denninger.net/a...-Boycott!.html SEE ALSO THIS PREVIOUS POST** CALL for a National BANK BOYCOTT Bank of America by KARL DENNINGER http://www.projectavalon.net/forum/s...ad.php?t=16667 Last edited by peaceandlove; 10-20-2009 at 11:29 PM.

10-21-2009, 03:32 AM	#2
TRANCOSO Avalon Senior Member Join Date: Jul 2009 Location: Amsterdam Posts: 964	Re: Had Enough? Time For A Boycott! ~ KARL DENNINGER This plan can only work when the capital that is drawn out of the accounts is big enough to make small banks so 'healthy' that they become independed of the Fed & have at all times a very large cash reserve, so they can withstand a possible 'run' on the bank by their customers. Because they will fall over & be 'bankrupt' otherwise, which could cost a lot of people their savings. If I was an American with money in a bank, I would withdraw it & buy pure gold (South African Kruger Rands) silver or platinum. The dollar ain't worth the price of the paper it's printed on.

10-21-2009, 04:51 AM	#4
MargueriteBee Avalon Senior Member Join Date: Sep 2008 Location: Northern California Posts: 216	Re: Had Enough? Time For A Boycott! ~ KARL DENNINGER I agree. I paid off almost all of my debt and don't want to get charged for just having a card. I am closing all credit card accounts. Man, they nickel and dime us to death! I think we should boycott all corporate products; just don't buy any of it.