Let's intentionally crash the financial system

I'd love to crash the financial system, but I think the Op's methodology is not the way to do it.

Here's my plan: Everyone, take a cash advance from all of your credit cards, for your full limit. In other words, max out your cards.

Everyone withdrawal all your money from your bank accounts right now. Find a VERY good hiding place for it. I don't mean under your mattress. I don't mean in a heavy metal safe. I mean somewhere GONE. Close your accounts.

Everyone, miss paying your credit card bill this month.

Everyone, miss paying your credit card bill next month.

And the next month. And the next month.

You don't have money to pay them. So they won't be getting their money. They'll take legal proceedings to take everything you own. This costs them money from their now dwindling accounts. You will now go to jail and get free meals, shelter, and exercise.

No one will be around anymore that can afford anything. They own everything, but can't sell any of it because no one can buy it! It's like having 10 tons of acorns, but no one accepts acorns as payment!

Hence, everything they own is WORTHLESS. If everything the financial system owns is WORTHLESS, the financial system is WORTHLESS.

Viola! Crash!

There are more practical ways of crashing the financial system as we know it. For starters, stop doing business with one of those banks that was "too big to fail." Send your business to your local credit union. They give better interest rates because they are not profit-making entities.

reply to post by Divinorumus


If you go even cheaper -- those informerical products -- then they shop for you! -- charging your card and sending you the cheap goods -- nonstop!!

www.providianfinancialsucks.com...

reply to post by danj3ris


The problem with this suggestion as well as many others is that you need a critical mass of people to pull it off. If only a few people try this, creditors and law enforcement will be able to crack down on them and ruin their lives.

And here lies the problem. Nobody is going to want to put their neck out unless lots of people are doing it. Lots of people will not be doing it unless somebody puts their neck out.

reply to post by hotpinkurinalmint


www.washingtonpost.com...

J.P. Morgan is expected to take a hit of $500 million to $750 million from the new rules, according to Dimon, who added that the bank will no longer offer cards to 15 percent of its customers because they pose too much of a risk in light of the regulations. The bank has reduced credit lines, canceled cards that had not been used for a long time, and substantially reduced offers for introductory rates and promotional balance transfers. ad_icon Bank of America has said the new regulations will cost it $800 million.

www.huffingtonpost.com...

"By all measures, 2009 was a terrible year for our credit card business," Dimon wrote. Charge-off rates, the amount of card debt the company had to write off as uncollectible, reached 8.5 percent, an all-time high. But while poor, that performance was better than competitors, he said.

Originally posted by danj3ris
Everyone, miss paying your credit card bill this month.

Everyone, miss paying your credit card bill next month.

Yeah, that's some good advise there too. I mean, why wait and do this AFTER you've lost your job and have no choice? If you're already in debt, it's just a matter of time before you loose your job and end up with a f'up credit rating anyhow. Don't worry though, it's a good thing to be prohibited from living on credit.

Also, sell every damn thing you have that you do not need and then sit on your pile of cash until you absolutely need it and then you will thank yourself later after you've lost your job. During a depression, CASH IS KING!

You know, a lot of people haven't considered this yet, but a whole boat load of people have really messed up their credit during these last few years, and you know what that means? THESE will be people that will not be stimulating the economy for many years to come. Their bad credit will prevent them from getting a mortgage for years, prevent them from shopping on credit for years ...

It's going to be a very long long time before we're ever out from underneath this mess and you may as well start living now as if you've already lost your job.

Um.. how you propose people don't use money? I suppose if you live in a cave, it's all good. But let's see.. utilities.. shelter.. food.. these things do cost money. A huge % of the nation does not have a yard or any space to grow a garden, so that's not even an option.

To be honest, most people are screwed because they did it to themselves. Easy credit is not reason to accept it.. but so many did.

reply to post by fleabit


Yeah just don't open your mail box because it's full of credit cards!

Originally posted by MR BOB
I cant live like that. i need money to pay for my car.

and I dont fancy having a chipshop oil(mixed with diesel) car.

See its all about the oil!

This is a great plan, too bad there are too many people that won't give up their oil usage for something like this. Most people can't barter for oil...

[edit on 2-4-2010 by Smell The Roses]

reply to post by Smell The Roses


Yeah I gave my car to my brother-in-law 10 years ago and was biking during the Minnesota winters! Dangerous!

Still I accrued some serious carbon credits.

Originally posted by danj3ris
I'd love to crash the financial system, but I think the Op's methodology is not the way to do it.

Here's my plan: Everyone, take a cash advance from all of your credit cards, for your full limit. In other words, max out your cards.

Everyone withdrawal all your money from your bank accounts right now. Find a VERY good hiding place for it. I don't mean under your mattress. I don't mean in a heavy metal safe. I mean somewhere GONE. Close your accounts.

Everyone, miss paying your credit card bill this month.

Everyone, miss paying your credit card bill next month.

And the next month. And the next month.

You don't have money to pay them. So they won't be getting their money. They'll take legal proceedings to take everything you own. This costs them money from their now dwindling accounts. You will now go to jail and get free meals, shelter, and exercise.

No one will be around anymore that can afford anything. They own everything, but can't sell any of it because no one can buy it! It's like having 10 tons of acorns, but no one accepts acorns as payment!

Hence, everything they own is WORTHLESS. If everything the financial system owns is WORTHLESS, the financial system is WORTHLESS.

Viola! Crash!

LOVE IT! BUT DIDNT THE BANKS ALREADY BEAT US TO THAT, AND WITH THEYR OWN CREDIT NO LESS?? hehe well lets try it anyway, i could do with enough food for the family, for once =/

[edit on 3-4-2010 by THEsmokefrog]

[edit on 3-4-2010 by THEsmokefrog]

reply to post by THEsmokefrog


Dude you got a Second Harvest in your town? They're getting major tax deductible donations of food from the big box retailers Walmart and Target:

www.startribune.com...c:UHDaaDyiUiD3aPc:_Yyc:aUHDYaGEP7eyckcUs

I would have to strongly disagree with you. Crashing the financial system is not a solution to stop the NWO/Corporations/TPTB. It is too far fetch, ridiculous and if there are enough people like you to do this, it will cause untold misery to billions of people.

First of all, you claim you had a bad credit record. Whose fault can that be? Do remember, no one POINTED a gun at your head and say you must spend. You do so at your own free will. And irresponsibly resulting in your disability to return money owed.

No one ever promised or guaranteed you a career or a job that last through a lifetime. The only ones who promised such were the Commies, and you know how it ended. The govt is not omnipotent, and will do all it can, and in a democracy, will not interfere in private enterprise unless it goes out of hand.

The only certainty in life is change. And one must be versatile and adapt to changes quickly in order to survive. If not, you will be left behind. In an egalitarian society, many of us will do all we can to help, but if you don’t even help yourself and prefer to rot or stubbornly believe your lifestyle is better, none of us can help you.

Do think through your ‘theory’ rationally. I would not have responded had I not see many agreeing with you. Barter trade is unwieldy and at the mercy of those you trade with, upon which your needs are assessed and weighted to give you what you need. It is an unfair system, corrupt and dangerous and subjected to being conned.

The monetary system today while far from perfect, it has its good points and uses. It only needs more inclusive and fairer improvements to make it better for mankind. As for the fight against TPTB, there are many other ways to skin a cat, more so in a democracy.

It is them you want to hurt, so make sure whatever half baked ideas you have, you must NOT hurt anyone or foul yourself with taking lives, which I believe that line is not what you will take. Uncover them, expose them and then give them the boot. They should be exiled into the jungles where they belong.

Income tax was invented by the communists. There was no income tax before it appeared in the Communist Manifesto.

reply to post by OurManInGlasgow


books.google.com... UzbsXb-BI&hl=en&ei=32q3S_zqH8P_lgf-vcSXCg&sa=X&oi=book_result&ct=result&resnum=7&ved=0CB4Q6AEwBg#v=onepage&q=&f=false

Income taxes in the 18th C.

OK, so to the OP.....let's say we all stop using money and just barter for what we really need, what happens? The economic functions in play don't cease to exist. How do you acquire gas from Texaco for your car to get to your bar gigs? You have to understand where the problem starts, it's not with the government or the monetary system or the exchange of goods and services, the problem is Texaco and the rest of the corporate infrustructure within the economy! If the current system was destroyed, what do you propose to replace it with? Or are we to drag chickens around with us all the time to get what we need for our cave?

reply to post by Operator 911


Time to watch the Money Fix documentary!!

www.themoneyfix.org...

lietaer.com...

[edit on 3-4-2010 by drew hempel]

reply to post by washingtonsghost


With many ways Ive done my part - and still continuing to do so - I am with you:

- No bank account
- No money paid salaries
- No credit cards or bank cards
- Not paying any taxes
- Not using government benefits...

... Everyway I can, every single day, I have stayed out from this human slave factory system. And I am happy from that. Only place where I live by system is in Thailand - not here in Europe, and I will not.

reply to post by JanusFIN


www.youtube.com...

Hazel Henderson tells it like it is.

reply to post by Millions


So your saying mass declarations of bankruptcy? Already done it!
Bankruptcy actually forced me into the cash only situation I'm in,
and I love it.

One year after I declared bankruptcy, almost to the day, I started getting pre-approved credit offers, some from the same crdit card companies that I had wrapped up in bankruptcy.

That just went to show me that the bankruptcy was the right thing to do, the companies were more than willing to overlook the fact that I had caused them to lose thousands of $$$.

As long as they could get me (and my future $$$'s) back, that was all that mattered.

No credit cards for me, ever again.

If I can't pay cash, I don't need it.

I had purchased, and still pay for, my house, outside of the BR.