In France they are withdrawing all monies on the 7th December!!

[Eric J (Viking)]

This looks interesting...anyone heard??

In France they are not wasting time.They are organising themselves to withdraw their money from the banks on the 7th of December!!


http://www.facebook.com/video/video.php?v=1653011133967

http://www.facebook.com/video/video.php?v=1653011133967

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French activists call for a Europe-wide and joint account termination on 7 December on. Everyone should get his money from the account. The question is: What does this protest?
In France the last few weeks has been enough protest - at least find the three fanzösischen citizen Yann Sarfati, Arnaud Varnier and Geraldine Feuillien. Since demonstrating in the street and have brought before parliaments and obviously not - so its findings - the real power lies anyway in the hands of international banks and corporations, they want to provide a novel form of protest a stir on: 7 December, all citizens of the country resolve their account and their money can be paid out in cash. Then, so the activists suggest, one can first put the money in a suitcase or invest it in a social bank. About 7000 people have signed up to Join the linked with the call to the Facebook page.
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http://jetzt.sueddeutsche.de/texte/anzeigen/513473

viking

[Ammit]

A nice thought Viking.. But what if you have overdraft facilities or loans/direct debits etc.
Surely you would just amount interest on this???????

[Jonathon]

The term 'agent provocateur' comes to mind. The reason Caesar stamped his face on all of the gold was because the gold belonged to him. Anyone else in possession was simply borrowing under the good graces of Caesar himself. Fortunately for the modern day Caesars, cotton promissory notes can't be melted down into something of value.

[sojorner]

I applaud the French on their resilience and tenacity. I wonder how we'll fare when it's our turn.

Soj

[Steven]

Actually, that's one of the best simple action the citizen of the world can do. And it will hurt the financial/banking system. I'm not from France, but I'll do just the same on this date by support.

Namaste, Steven

[JoshERTW]

I've been contemplating this for a while actually, more as a safety measure to have some cash on hand in case of a massive stock market crash and bank run like in the 30's - which I haven't ruled out as a possibility in the next little while. Too bad I have no money to withdraw haha.

[Operator]

This looks silly .... do you really think everybody is going to wait till the 7th of December ?

By then you will be too late ... as soon as a run begins the bank will quickly run out of cash and you get nothing.
So this message (if serious) alone will make people nervous and start some of them early.
Besides if a bank would survive till the 7th and they know the plans they will simply take a bank holiday to avoid the run on the bank.

The whole idea is great of course. I am closing one of my bank accounts today (as a matter of dissatisfaction too but not triggered by this news).

[Fredkc]

My Inner Revolutionary loves the idea!

http://fredsitelive.com/images/post/BearsPenguins.jpg

Fred

[Jonathon]

LOL yes awaken the sleeping bear... by a penguin no less. That's hysterical! Can you imagine what that poor penguin is going to do once the bear gains consciousness? Can't bobble more than 2MPH and certainly can't fly. And the penguin friend with the basket... coming to collect ROFL!!! Freakin awesome... LOL.

[Operator]

http://fredsitelive.com/images/post/BearsPenguins.jpg


That's a revolutionary picture alright ... penguins and polar bears can't be separated any further from each other.

[Ilie Pandia]

I tend to agree with @Operator on this one. If there is going to be a run on the bank on the 7th of Dec there will be no more cash left :)). I for one have just set up a reminder two weeks before that date to withdraw what money I have left in the bank :D

[Ba-ba-Ra]

Well, we all love the idea of David standing up to Goliath - but my logic says Operator (see above) is right. It will be interesting to watch though.

I have to give it to the French, when they raised the social security age in US, some grumbled, but most barely batted an eye. Until somehow we can force the politicians to be on the same system of benefits as we are, rather on their "special" retirement and medical programs, they won't give a damn.

[Ilie Pandia]

@Ba-ba-Ra: I think one of our mistakes is that we think we are like David and Goliath, meaning that we see ourselves as really small and with little power. I know David wins in the end... but the banks resemble Goliath only in our mind... they do not really have the numbers to match us. We are lots and lots of Davids :)

[Kulapops]

Oh goody. Another date to look forward to. Perhaps something will happen on that date finally.. or maybe sooner? :0)

My advice would be ... watch out for prowlers in ski masks on the streets as you return home with your hard earned loot (to find your wide screen tv gone. Dang ! How they know you'd be out ???? )

Even more scandalous - following our pension funds being on their knees...is new info that all UK citizens will be forced into pension contributions as of next year. (yeah.. they need your money!) A big blow for small companies who will be forced to implement this even if they only have a couple of employees.

Oh.. and did I also mention that the UK are selling off half of all forestry commission land to pay our debts? Something like a million and a half acres (or half of that). Jeez, chump change off the OTC debt.

[Celine]

(to find your wide screen tv gone. Dang ! How they know you'd be out ???? )



Maybe they read in on twitter, or saw the facebook status " Out all night spending my hard earned cash"

[Ilie Pandia]

@Kulapops: Unlike other predictions here on the forum there really is an event set up in facebook for 7th of December.

http://www.facebook.com/#!/pages/Lo-sai/126393880733870

If I understand the numbers right there are about 12,000 people that "Like this" event :). So the question really is if it will reach critical mass as to cause problems with the banks or not and if it will start earlier that 7th of Dec :)

[Ross]

If the bank(s) feel this is a real threat to them and the numbers (acc's) looks likely to be withdrawn, they will intervene, with some legal clause and or support from Govt. They wont let this happen. A freeze on Acc's will be the likely scenario. Also, if acc's number into the 'thousands' they simply wont have the availiable funds to accomodate. Yes, it's your money but their mindset will be...you can't have it.

Regards

Ross

[Ethereal Blue Being]

Doesn't France have laws like here in the US . If there is a "run" on the banks they can close down for 3 days to let people cool down and I'm pretty sure they can limit you on percentage of your overall account that you can withdraw at any particular branch ( they want you to go to another branch and stand in another line I guess). If someone knows more details of this or where the link to the official laws are I would like to read them..it's propably on a FDIC webpage--- 911 changed everything. By they way if people in France do this the "bad guys" will just be following people home and rob them.Criminals will love this idea. I imagine criminals from other countries wil fly in for the "easy pickings"

[Ilie Pandia]

A freeze on Acc's will be the likely senario. Also, if acc's number into the 'thousands' they simply wont have the availiable funds to accomodate. Yes, it's your money but their mindset will be...you can't have it.

Saying "you can't have it" would be just the same as saying "we do not have any more money to give you". Blocking the access to money or running out of money will have the same end result with the general population: people will no longer be able to get to their money! But I guess that "you can't have it" scenario would at least save the banks.

[Kulapops]

Interesting... pixel... I agree with Ross.... there will be contingency plans for any day where a certain amount of cash is withdrawn. So the only way this would work would be by a gradual shift away from banks.

I think the closest the UK Government got to action was Oct 2008 when a steady amount of cash was being withdrawn by people over a long period of time. Apparently they got close to stepping in and freezing cash machines.

This , of course, could just be pure story. However you could look into it if interested.

And as we slip silently away from the use of cash, it won't be long before you have nothing to withdraw. Think on that one !

How many of you write cheques anymore ? How many use credit cards ? Which of us uses Paypal ? Amazon ? How much cash do we actually spend each month in comparison to electronic transfers of one form or another? I'd guess not more than 10%

oooh.. money ! the devil is so convenient isn't he ?

So this could just be another 'what if?' story As funky as it would be to witness... I think you can say the chances of it 'happening' are up there with disclosure...

;)

Love to you all

[Ross]

It may well play into their hands...(If in fact enough ppls decide to withdrawal) as in a reason to abolish cash totally (cos we just dont have it to give you) and introduce 'credit for cash' which of course has been the plan for some time. (dont rule out who is behind this idea) PRS...

In saying that:


So this could just be another 'what if?' story As funky as it would be to witness... I think you can say the chances of it 'happening' are up there with disclosure...


The most likely story Kula...tho the French are battlers and are not afraid of a good ole fisty-cuff. :p

[yiolas]

Truth be Told, I started to cash my paycheck rather than deposit it months ago, as well as take out whatever meager savings I had ! I also stopped using my debit card and credit cards. I pay any monthly installments on the absolute last day in cash and in person. If I didn't have any loans, I would not step foot into any financial institution ever again. That's my goal !

[lightblue]

Default Re: In France they are withdrawing all monies on the 7th December!!

Truth be Told, I started to cash my paycheck rather than deposit it months ago, as well as take out whatever meager savings I had ! I also stopped using my debit card and credit cards. I pay any monthly installments on the absolute last day in cash and in person. If I didn't have any loans, I would not step foot into any financial institution ever again. That's my goal !




really good on you, i'll try to copy you... !



.

[Ilie Pandia]

Did you know that instead of keeping your money in a bank account you could keep it in a bank "safe box"? (not really sure about the terminology of the safe box). The idea is to store money as cash in that box instead of "bits of data" in the bank account. You should be the only one to know what is in that safety box, and (short of a bank robbery) I know of no reason why the bank should block access to your box.

So with the safe box you have the money stored in a relatively secure place (rather than keeping then under your pillow) and the bank/state can not touch then since they are not in your bank account. There are some storage fees of course but I think they are comparable with the account maintenance costs.

I should mention that I, personally, do not use this because I have little to no savings left :), but is an idea to contemplate. Of course you could buy your own safe at home if you afford one.

[Ross]

Rest assure that all cash boxes (safety deposit boxes) are within the confines of the bank...so...if all hell breaks loose they will lock you out...somewhat neg...but thats what will happen.

[Teakai]

My Inner Revolutionary loves the idea!


Fred

So does mine.

However, like Operator pointed out, if people knew that was the plan - and that they might risk losing out on withdrawing their money that day - wouldn't people get in early?

I live in hope - but human nature is what it is.

[NoTingles]

msg. deleted

[Teakai]

The term 'agent provocateur' comes to mind. The reason Caesar stamped his face on all of the gold was because the gold belonged to him. Anyone else in possession was simply borrowing under the good graces of Caesar himself. Fortunately for the modern day Caesars, cotton promissory notes can't be melted down into something of value.

Hi Jonathon,
having read that opened up another line of thought ; Maybe this event would be a good reason for implementing military control systems.

I think a whole lot of people would have to be in on it for that to happen, though.

[xbusymom]

It may well play into their hands...(If in fact enough ppls decide to withdrawal) as in a reason to abolish cash totally (cos we just dont have it to give you) and introduce 'credit for cash' which of course has been the plan for some time. (dont rule out who is behind this idea) PRS...



which is exactly why this might be a good time to start a local time bank... create our own MONEY system... as I said before on another thread... if we don't use their money, we don't have to follow their rules...

I for one, will have to start the money-jerk early cuz their is a limit on daily ATM withdrawal amounts...

[Luke]

I would suggest to check how it looked in Argentina , when they de-pegged their currency from dollar .. or any other bank run.
Banks are allowed to have only specific small amount of cash on hand, supposedly for safety reasons.
When it runs out, they simply block withdrawals till central "sends more". Might takes days :) Convenient, isn't it ?
During the time the cash-out amount is lowered more and more .. imagine taking out $5000 when you can take out $100 at the time.
Then of course, after few days you have bank holidays guaranteed.
Point is- 90% of cash would be still in the system :P

[morguana]

Will be joining my French brothers and sisters in this peaceful protest :)
Thank you for posting this and helping to pass on this info
Love
M

[Olam]

So I realize that Im ahead of the pack. I have been removing my money from my bank for 2 years now.
I keep a minimum which is about 40 dollars. I even went to the trouble of speaking to the manager to ask to not have any solicitation from the cashiers. At one point it was rediculous,getting asked everytime I showed up...."Hello Mr, we notice you have no credit card, you know we have very advantagous rates and services".....

So now I even refined the whole process. I have an ATM machine 2minutes from my house. I deposit checks and take out the money at the same time. Bingo, no waiting, no solicitation, no money in the bank and I leave with a pile of easily usable 20 dollar bills....
Now thats banking !

[Operator]

So now I even refined the whole process. I have an ATM machine 2minutes from my house. I deposit checks and take out the money at the same time. Bingo, no waiting, no solicitation, no money in the bank and I leave with a pile of easily usable 20 dollar bills....
Now thats banking !

Same here ... but that was the reason why the bank now introduced a yearly fee of $60 besides the monthly fee of $6 ... so I had to close the bank account at all.
I am not going along with it anymore ...

[Kulapops]

Two years ago I had nearly £1000 in cash at home. In readiness of the banking shutdown that never came. It was very handy though if you're going out and forgot to go to the ATM. A little cash liquidity never hurt anyone !

S'all gone now though... still, I had a good time spending it :).

What I need now is just a really good ATM in the wall of my house with a dial in to the Canadian President's expense account. I'm sure they wouldn't miss the odd $100 here and there...

:)

I do think you have to admire the French. And if anyone could pull a stunt of mass disobedience, it's them.

[sojorner]

I think it's wonderful that the French people are not taking the austerity measures lying down. Maybe the bank run will be sabotaged, but they're showing the world how to unite and work together to try and make an effect. Like David Icke says..they are the few, and it's we who are the many. Non compliance, refusing to use banks or financial institutions, shopping at your local stores, not the major corporate owned chains, these on a massive scale will definately be felt by the Rich and Greedy.

Soj

[Luke]

I think it's wonderful that the French people are not taking the austerity measures lying down. Maybe the bank run will be sabotaged, but they're showing the world how to unite and work together to try and make an effect. Like David Icke says..they are the few, and it's we who are the many. Non compliance, refusing to use banks or financial institutions, shopping at your local stores, not the major corporate owned chains, these on a massive scale will definately be felt by the Rich and Greedy.

Soj

Well, not to spoil the show.. but French that strike actually want to have a free lunch, which they were promised for like, 60 years? Problem is, ponzi scheme that they count on to give them early retirements and all that "something for nothing" that western people are so used to, that they do not even ask "how", simply run out. There are not enough spoils to feed the Boomers.

For years West lived in make-believe world of bismarckian "retirement funds" that brought wealth to power elites, but also gave enough of share to "normal folks" that they stopped to ask why. Problem is, that was financial pyramid from day 1, that based on same principle as Bernie Maddoff based his business on. Now, this scheme fallen apart. There is no cash to give out promised retirement. Zip. Nada.

Of course that angered lots of people. But real problem is, they wanted to believe in this scam. Any person that spent an hour studying this system knew it was a lie. Now, chicken came home to roost, and folks are angry.

Problem is, they are angry for all the wrong reasons. They do not want to for govt to pack things and go away, stop meddling in economy. They want govt to extend and pretend that financial pyramid still exist!

Sorry folks, TANSTAAFL (http://en.wikipedia.org/wiki/TANSTAAFL), like it or not....

Way I see it, those French strikes are just heroin addicts mugging for next shot, but carefully avoiding issue of addiction.

[Rocky_Shorz]

well I think it is awfully nice of the protesters to let the bank know they are getting the first 2 weeks of December off...

ATM's closed with no cash?

send an email to complaints... ;)

They'll get back to you...


in 2011...

[Olam]

I think they are smarter than that!.....some form of steganograpy perhaps.

[norman]

Way I see it, those French strikes are just heroin addicts mugging for next shot, but carefully avoiding issue of addiction.

I think the point that the French and others are right about is that the relationship between the people and the state is essencially a partnership. They put up and compromise with the state as part of that. Think partnership contract law.

[MargueriteBee]

I moved recently and went to close out my old account in cash and the bank would not give me all in cash because they don't keep that much cash 'on hand'.apparently the banks only get dolled out just so much cash. I,ve been hitting the ATM machine everyday.

[Ilie Pandia]

apparently the banks only get dolled out just so much cash. I,ve been hitting the ATM machine everyday.

This is true in my country also, but here in Romania you can give a 2 day notice to the bank that you want to withdraw a large amount of cash (and you have to provide a reason and fill up pages and pages of documents and go trough the legal department) but eventually you will get your money. So maybe you can do the same thing where you live. I would be outraged if someone would tell me that I can not access my own money for whatever reason!!! :)

[xbusymom]

I think you sign an agreement, when you open the account, that you will only be allowed to withdraw up to a certain amount per day for the very reason so the banks won't be in the position of being broke if everyone takes all their money out at the same time. So again, it is a contract that you agreed to and contracts must be honored. (At least you need to keep honoring your word and reputation...)

[Alloya]

This looks silly .... do you really think everybody is going to wait till the 7th of December ?

By then you will be too late ... as soon as a run begins the bank will quickly run out of cash and you get nothing.
So this message (if serious) alone will make people nervous and start some of them early.
Besides if a bank would survive till the 7th and they know the plans they will simply take a bank holiday to avoid the run on the bank.

The whole idea is great of course. I am closing one of my bank accounts today (as a matter of dissatisfaction too but not triggered by this news).

Closing my savings account tomorrow , have not got much but what i do have i want to monitor myself not leave it in the hands of greedy bankers.

[Operator]

Closing my savings account tomorrow , have not got much but what i do have i want to monitor myself not leave it in the hands of greedy bankers.

It's not only that but with every penny you leave with them they can create loans out of thin air ten times the amount that you leave with them. So inherently we're to blame ourselves ...

[Rocky_Shorz]

actually up to 80 times what are held on deposits...

The lower the risk of default, the higher percentage they can lend...

[Ross]

Banks are 'legal' theives...

Ross

[Alloya]

actually up to 80 times what are held on deposits...

The lower the risk of default, the higher percentage they can lend...
wow that is incredible , i never knew that ....

[Ilie Pandia]

actually up to 80 times what are held on deposits...

The lower the risk of default, the higher percentage they can lend...

And then some of those 80 percent become deposits in some other banks generating another "80 times more money"... and so on... and on... :)

[Ilie Pandia]

So... do we have any French Avalonians here? Are there any loooong queues at banks and ATMs? Does anyone have any updates on this?

[Bill Ryan]

wow that is incredible , i never knew that ....

An excellent and very simple-to-understand reference (a VERY well-done cartoon documentary - essential viewing to understand the modern financial system, and how it evolved):

MONEY AS DEBT (http://video.google.com/videoplay?docid=-2550156453790090544)



http://video.google.com/videoplay?docid=-2550156453790090544

[conk]

Money As Debt is a good video. I used it as a teaching tool for my young teens. After that we watched The Money Masters

[kalimistik]

I stopped using the banks years ago, just maintain one account for the essentials but keep it at a bare minimum. I worked years ago in finance and came to the realisation then, how the whole system works. I still remember the day a colleague of mine explained gearing to me.....well what can I say, that is what started my worldview which I still hold today. When I saw how rigged the money system was it made me suspect that maybe everything else is a lie aswell which of course it is. To explain this concept to people I usually use the anecdote " A man goes into a bank and deposits 1 million , the bank then has to pay him the going interest rate. Then the bank through a 10 to 1 gearing can lend another 9 million which do not exist. Another man goes into the bank and needs to borrow 1 million to buy a property which the bank then lends him at the going interest rate. However until the borrower pays back the last cent on the loan and the interest, the value of the property i.e. 1 million is then on the banks balance sheets so hay presto! they can now gear this up and lend another 9 million which again doesn´t exist and so on.

My friend and I had this great idea once of how to end this madness. All we needed was 5 million which we could not raise, to buy a banking entity ( african or something like that, you can actually buy them for this kind of sums ) and then using their same rules to effectively gear them out of existence. The idea was as follows:-
We start a massive advertising campaign offering 10% interest on deposits, you would instantly attract a lot of custom. Then when you reach your first million for example, you can gear this up 10 - 1 and loan out 9 million ( which of course do not exist ) then loan out this with the condition that the borrower only has to pay back half of the loan, you can imagine the interest this would attract! Before you know it, you have nearly all the business you need to ensure the big boys go under. Hope you all get the jist of this? It really is that simple!

[str8thinker]

Thanks Bill for that cartoon. Also thanks kalimistik and everyone else who posted.

It's pretty obvious that those who make the greatest profit out of all this are the banks. So... if you can't lick 'em, join 'em. Community banks at the grass roots level in Third World countries seem to be flourishing; we could learn a lesson or two from them.

http://www.escapefromamerica.com/2009/03/third-world-economics/

When I saw Bill's Money as Debt cartoon it reminded me of Wake Up Call (http://www.myspace.com/johnnada80)(Remastered, 2008) by Harvey Lester (formerly John Nada). His MySpace page (http://www.myspace.com/johnnada80) contains links to the YouTube, Google Video and also AVI version of this two and a half hour long epic, which covers a variety of topics of interest to us all here. It has been called a good way of bringing newbies up to speed on what is being discussed in these forums. The bit about the history of banks is near the beginning.

Well, the 7th December has come and gone, and it seems the French remain too individualistic to heed Eric Cantona's call (http://www.nytimes.com/2010/12/07/business/global/07cantona.html). As Charles De Gaulle once expressed it, "How can anyone govern a nation that has 246 different kinds of cheese?"

[Anchor]

The cartoon is great, I'll be giving this to people on a USB stick :)

[iceni tribe]

the film money as debt is being shown on showcase sky channel 201 and 203 every 2 to 3 weeks. paradigm shift tv or pstv.

who ever is behind the channel is getting this information into the front rooms of the non internet users and i take my hat off to them.

they have also shown bill stills , archetects of control , he is the fella that put together the money masters film and this is a newer version.

o and they have and are showing
blue print for the truth
national security alert
high jacking humanity
esoteric agenda
7/7 ripple effect

and i believe theirs a lot more to come.......... well worth putting the word out

[Teakai]

So... do we have any French Avalonians here? Are there any loooong queues at banks and ATMs? Does anyone have any updates on this?

Yes, I was wondering the same thing, Undeadpixel. Curious to know how it all went and if anything came of it. Think I'll go do some gooogling and see what I can find.

[Teakai]

oh, bit anti-climactic, really:

Cantona's bank run set to flop in France
By Dan Hyde
7 December 2010
Reader comments (15)
Today's mass bank run plot that was launched off the back of an Eric Cantona interview on YouTube looks set to flop.

'Bankrun 2010' was created by two filmmakers in response to Eric Cantona's call for millions of people to 'cripple the banks' by all withdrawing their cash at once.
A date was set for Tuesday 7 December, but the plan looks to have fizzled out with just a handful of activists turning out across France.
The campaign – and Cantona's controversial video - went 'viral' online, with some 40,000 people signing up to the French event on the Facebook social network.
Similar events across the rest of the world, from Albania to the USA, had been planned on Facebook.
The story drew a flurry of responses from This is Money readers in November, too, making it one of the month's hottest topics.
Bankrun 2010 had claimed 16,000 customers were genuinely committed to the plan. And a French bankers union had expressed concern over the huge potential damage to the French economy.
But news sources in France today reported just a thin trickle of withdrawals.

Read more: http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=519485&in_page_id=7#ixzz17ae3PSJQ

So much for commitment.

[Ilie Pandia]

I did not expect the main stream media to actually say something about a bank run because I it would cause panic and would become a self fulfilling prophecy. But apparently very few people still believe they can affect change in this system.

Some of my friends working in France said that there was a lot of talking about it but nobody actually went to a bank.


Christine Lagarde, the French finance minister, was skeptical.

“He’s an immense footballer, but I’m not sure we need to pay heed to all his suggestions,” Ms. Lagarde said last week, using the European term for soccer player. “There are those who play football magnificently, and I would not dare to try. I think it’s best for everyone to stick to their own competencies.” (from: http://www.nytimes.com/2010/12/07/business/global/07cantona.html?_r=2)

[Luke]

As with any such actions in the future, we must remember one simple thing:

BEING AGAINST IS NOT ENOUGH
YOU MUST PROVIDE WORKING ALTERNATIVE TO PART OF THE SYSTEM YOU ARE AGAINST TO

That said , you remove cash .. and what? watch it loose value due inflation? Unable to make shopping via iNet? Push it to stocks (and be ripped off by HFT bots in a second?).. or maybe into bonds, giving the system that strangles you even more power? Buy precious metals, very few people like to make transactions with?

This is simply another meaningless act of defiance.

If you want a difference - you must provide alternatives to banking system. Illegal alternatives, as anything legal is controlled and be easily taken over, like say, paypal. Moreover, most of peoples, even here, are indebted and need to earn funny money in order to pay for assets they borrowed to purchase.

As long as there would be no alternative, people subconsciously will believe that coloured pieces of paper have value .. and doing so they will remain slaves.

[steve_a]

Hi teakai,

It was set to fail from the beginning. The vast majority of Anarchists don't have any money to withdraw from the banks!

Best regards,

Steve

[Teakai]

Hi teakai,

It was set to fail from the beginning. The vast majority of Anarchists don't have any money to withdraw from the banks!

Best regards,

Steve

:lol: - well that would explain why not very many went into the banks, then.

[Ilie Pandia]

That said , you remove cash .. and what? watch it loose value due inflation? Unable to make shopping via iNet?

Well the real impact would have been caused by those people that were unable to remove their cash. In my mind this should have been a wake-up call for those still believing that banks handle actual money. So this "Cantona" event should have been about expanding awareness and not necessarily providing a solution to the banking system. But other than that I absolutely agree with you Luke.

[Ahkenaten]

I stopped using the banks years ago, just maintain one account for the essentials but keep it at a bare minimum. I worked years ago in finance and came to the realisation then, how the whole system works. I still remember the day a colleague of mine explained gearing to me.....well what can I say, that is what started my worldview which I still hold today. When I saw how rigged the money system was it made me suspect that maybe everything else is a lie aswell which of course it is. To explain this concept to people I usually use the anecdote " A man goes into a bank and deposits 1 million , the bank then has to pay him the going interest rate. Then the bank through a 10 to 1 gearing can lend another 9 million which do not exist. Another man goes into the bank and needs to borrow 1 million to buy a property which the bank then lends him at the going interest rate. However until the borrower pays back the last cent on the loan and the interest, the value of the property i.e. 1 million is then on the banks balance sheets so hay presto! they can now gear this up and lend another 9 million which again doesn´t exist and so on.

My friend and I had this great idea once of how to end this madness. All we needed was 5 million which we could not raise, to buy a banking entity ( african or something like that, you can actually buy them for this kind of sums ) and then using their same rules to effectively gear them out of existence. The idea was as follows:-
We start a massive advertising campaign offering 10% interest on deposits, you would instantly attract a lot of custom. Then when you reach your first million for example, you can gear this up 10 - 1 and loan out 9 million ( which of course do not exist ) then loan out this with the condition that the borrower only has to pay back half of the loan, you can imagine the interest this would attract! Before you know it, you have nearly all the business you need to ensure the big boys go under. Hope you all get the jist of this? It really is that simple!

Well Kalimistik you are spot-on! How about we start an AVALON international bank - anyone can do it. It would be not for the purpose of stuffing our pockets with ill-gotton money, but providing a genuine alternative to the controlled international bankster game. How much money would we need? With radical deregulation of banking here in the US I hear it is actually pretty easy to start your own bank! Just a thought!

redit unions are in the US anyway are a whole other animal and they overall, are very responsible.

Yeah easy enough for Anarchists with no money to pull down the walls around us................what we need are practical alternative economic and fiscal systems that everyday people understand and that work

[Kulapops]

Another prediction comes and goes...

I love the sound they make as they go whooshing by !

[John Parslow]

Ha ha ha Kulapops - I love your sense of humour ...

Love to you. JP :cool:

¤=[Post Update]=¤

Hello Ahkenaten

IMHO The best way to start a bank is to start banking with yourself at home, at least you will know what you have - you keep!

Best regards JP

[Kulapops]

Hey John ! We're neighbours...

There'll be another one soon... like buses, you get none for ages and then three come at once...

:)

[Ilie Pandia]

Another prediction comes and goes...

I love the sound they make as they go whooshing by !

Hello Kulapops - I was wondering when you're gone say something about this :p

[Kulapops]

Tee hee undeadpixel... I was going to scroll back and read what I wrote on this very thread... but at 7 pages.. that's going to take a while.. and time is of the essence as we all know !

I'm not feeling at all smug... but it is a reminder of my early schooldays, that the most vibrant rumours, that would whizz round from mouth to ear speaking of impending doom, never materialised. I had forgotten this until I came to the same phenomenon here at Avalon and reflected on it. My thread or posts on that are still at AV1.

I can spare everyone the research, but basically, we all love a good bedtime story. Something that will frighten us just a little. THough I believe none of these stories will ever come to pass because that is their function (bedtime entertainment, what is even stranger, is that I suspect even the folks who really believe it's going to happen may actually, at a subconscious level, also known they are bunk, and can just enjoy the story for the buzz it gives on reading, even though they seem to really believe it.

There was an interesting section in What the Bleep on how opiate receptors in the brain get us to repeat behaviour... I'm thinking that bedtime stories is just another equivalent for let's say, a large Jack Daniels and coke. The brain is happy, everyone is happy.

So I always look to the 'shock and awe' factor with any new story. Eveeryone taking out their dough is pretty big in this stake, so it's pretty unlikely to happen in my view. BUt is sure grabs the attention.

The whole wikileaks thing is much more complex story I think.

Good to see you!

[kalimistik]

[QUOTE=Ahkenaten;78486]Well Kalimistik you are spot-on! How about we start an AVALON international bank - anyone can do it. It would be not for the purpose of stuffing our pockets with ill-gotton money, but providing a genuine alternative to the controlled international bankster game. How much money would we need? With radical deregulation of banking here in the US I hear it is actually pretty easy to start your own bank! Just a thought!

redit unions are in the US anyway are a whole other animal and they overall, are very responsible.

Hi Ahkenaten,
The problem is brother, they stopped allowing individual parties from forming banks a long time ago! All we can do nowadays is buy an entity, ( a bank which is already formed, costing a minimum of 5 mil ) therefore the reference to the african banks etc. It would be a lot more difficult than maybe you think. ( at least working on their rules, if there was enough interest worldwide however this would not matter. ) The problem being to be recognized as a fiscal entity working within the realms of legality, you would not be able to do this, they have it effin stiched up... so to speak. There probably is a way of accomplishing this but it would need a lot of organisation, research and effin money! I think personally the whole cash thing is vehmently screwed and very sinister, what we need to do is change the banking laws and regs. Then and only then could we start to get a grip on the situation! These f..kers have it all nailed down bro, they invented the GAME ! Sorry for pissing on the party but that is the reality of the it!

[Rocky_Shorz]

the sad part is everyone withdrew all their money....

the banking elite didn't even notice......

[Louis]

On December 7, Eric Cantona has withdrawn just 1,500 euros (about 2,000 US$) in a bank in Amiens, France... and yet, Mr Cantona is rich as a former soccer player and movie actor.
In April 2010, his wife Rachida Brakni did a TV commercial to promote a well-known bank (LCL). Isn't it funny?
I really don't know if we have to cry or laugh.
Aren't you fed up with all the "blablabla" coming from all those "revolutionaries" and insiders in "rabbit skin"?
It's time to return down to earth and open our eyes.