Europe: Bankrun on 7th December 2010

(translation continued)

But what good does such a form of protest do? Klaus Abberger works at the Munich Institute for Economic Research, where he also deals with the "bank run" phenomenon -- the term for a run of bank customers on their savings deposits.

jetzt.de: Mr. Abberger, is the planned "Stopbanque" event a scenario for the German banking system that should be taken seriously?

Klaus Abberger: That depends on how much money the people have who participate in the event. In general, such a bank run is a very dangerous thing. When a bank has to pay out more money all at once than it has liquid in its vaults, it becomes illiquid and so goes bankrupt. That's independent of whether it is healthy and functioning well.

jetzt.de: What's so dangerous about that?

KA: When a bank goes bankrupt, it can quickly come to a panic that grips the entire population and can, in the worst case, lead to a collapse of the banking system. At the beginning of the worldwide economic crisis -- when the bank Lehman Bros. collapsed -- many people wanted to bring their money to safety, which led to more money being withdrawn in one day in Germany than the entire month before. Angela Merkel then passed a guarantee for savings deposits so that, fortunately, it didn't come to a run on the ATMs and bank branches.

jetzt.de: So could December 7 really turn into a date for a kind of new bank crash?

KA: The question is how many people will get together in front of a branch and how the banks could prepare themselves for that. The date for the event is publicly known, so that the banks probably won't be surprised to have to pay out more money on December 7 than usual.

jetzt.de: How many people would have to withdraw their money at the same time to severely endanger the liquidity reserves of the banking system?

KA: If several thousand people withdraw a thousand euros each, that would, in my opinion, have no great effect. It gets really dangerous when banks have to pay out tens of millions all at once. And if the desire for cash increases each day due to a mass panic and becomes a kind of avalanche. A one-time action by a group of people won't use up the liquidity reserves of the German banks.

jetzt.de: But what happens if a bank just doesn't have money in its vaults anymore because a thousand people stand in front of the ATM and keep withdrawing?

KA: When the branch doesn't have any money left, it can simply close its doors, order money from other branches, and open again the next day. By the way, there's still, as far as I know, the government's guarantee on savings deposits. If a bank is illiquid because it couldn't liquidate its assets fast enough to pay the customers at the counters, the government will jump in.

jetzt.de: What do you personally think of this event?

KA: I don't want to voice an opinion on this. I think one can discuss bankers' bonuses and salaries, but I would like to point out that a destruction of the banking system will always mean the destruction of the economic system as well. The main task of the banks is to turn the money of savers or investors into loans for machines, investments, and real estate. In return for lending the banks their money, people then get the interest. Without their money and without the transformational function of the banks, the economy wouldn't work. That's why politicians are always so worried about keeping the banking system running.

***********

Hey, that's great! That means we have NOTHING left to lose! 1) Here in the US, the banks aren't lending right now; they're just scooping up the money and sit on it, they don't pay out any interest to speak of, they don't give loans to small businesses, and our economic system is already going to # anyway... so there really IS no "transformational function" the banks here have. In fact, when you think about it, if that's the definition of a bank's purpose, then the banks currently don't HAVE a purpose at all!

So I guess it wouldn't make much of a difference if we boycotted all banks, would it?

Originally posted by iceblue20-12
This should be GLOBAL, first week in dec empty your accounts,everyone,everywhere.
At least the french actually do something about it instead of making a thread on a forum complaining about it.
CHANGE STARTS WITH YOU.

The global monetary collapse is imminent anyway,we need to help it along,pull a card out of the deck that the elite did not know existed nor expect.

Money is their power over you.

The French are a bunch of morons. Instead of actually trying to get their economy back in line, they strike. Would there be a World Cup in striking, they would definitely win it. They should stop behaving like stupid kids. In Holland, the pension age has been increased from 65 to 67 and people are all but happy, but there hasn't been a single strike. In France, it has been increased from 60 to 62 and they complain. Fools.

I know that this financial system is rotten, I know that there is a few wealthy families profiting greatly, I know that banks get away with their crimes, but that doesn't mean that we should wish to see our system collapse. People who want that have no clue about the consequences.

If the system collapses, how long do you think it will take for groceries to run out of bread? The survival of the fittest - that's what you will see. Be careful what you wish for.

For some reason I can't edit my last post, anyhow it would be nice to hear some constructive ideas for the aftermath or even better retooling what is already there.

Originally posted by Realtruth
This is by far the, one of the stupidest ideas ever, the only people that will get hurt is the people running to the banks for cash and young ones that need food.

So they run to the bank get some paper that is actually a promise note, crash the system and the notes are worth nothing, hallelujah! brilliant plan.

Ok, so now after the crash they want to rebuild, so all the years spent working and time the people have traded for those dollars are worthless. What's next?

Let's hear some brilliant solutions to the after math.

reply to post by TheDeader


Thanks. I actually enjoy translating.

reply to post by Mdv2


Agree 100%

This is by far the most narrow minded plan I have ever heard of, if people actually knew the repercussions of this type of worldwide plan they would not even attempt this.

Originally posted by Realtruth
This is by far the, one of the stupidest ideas ever, the only people that will get hurt is the people running to the banks for cash and young ones that need food.

So they run to the bank get some paper that is actually a promise note, crash the system and the notes are worth nothing, hallelujah! brilliant plan.

Ok, so now after the crash they want to rebuild, so all the years spent working and time the people have traded for those dollars are worthless. What's next?

Let's hear some brilliant solutions to the after math.

The current system is not repairable. All they are doing is propping it up to get as much of YOUR money out of it as they can for themselves. It is going to crash anyway.

What sense does it make to keep shoving 2 X 4's against the side of an old rotting house that is leaning so far to the side that it cannot be repaired.

It needs to come down and be rebuilt from the foundation up.

reply to post by Realtruth


Create a more fair system that doesn't treat us like slaves.

This is a message to those a$$holes who think they can control everything without any repercussion. They even got our governments by the balls.

They robbed us already, the banks robbed us, then used our money to pretend saving themselves, which double F'd us like a threesum.

Sorry for the angry rhetorics but I have every right to be angry, if you are a good slave for the banks, then continue your support, the rest of us are sick of this BS.

Don't get me wrong, they need a lesson, I actually believe they should be captured, hands and legs tied up, and then hanged.

reply to post by oozyism


The true value of anything is people trading time for something.

Think about what is valuable to you and others?

Originally posted by Realtruth
reply to post by oozyism

 

The true value of anything is people trading time for something.

Think about what is valuable to you and others?

The banks are not valuable, that is all I know.

They are robing machines, why the hell would I want them.

And you have the choice to not use them, as does everyone.

People scream they are getting robbed, yet they extend their credit limits, take out loans they cannot afford.

If some institution robs or cheats us once, shame on them, if we keep letting it happen shame on us.

My point is what are the solutions?

Originally posted by oozyism


The banks are not valuable, that is all I know.

They are robing machines, why the hell would I want them.

reply to post by Realtruth


Well I got zero dollars in any bank, and I want to encourage every one to do the same.

I still stand with my point, why do we need banks?

No one needs a BS robbing machine

What is the solution?

What do you mean what is the solution?

The solution is to get rid of banks zzz

Originally posted by oozyism
reply to post by Realtruth

 

Well I got zero dollars in any bank, and I want to encourage every one to do the same.

I still stand with my point, why do we need banks?

No one needs a BS robbing machine

What is the solution?

What do you mean what is the solution?

The solution is to get rid of banks zzz

Hey genius, if there are no banks in the economy, how do we expect the big corporations that you love so much to invest and make the products you use everyday? Did you not know that Investment equals savings?

Don't want to put money in the bank? Fine. But you can kiss the future development of the products you use every day goodbye. The Government can't just hand out newly printed money to corporations to stimulate investment.

I think the majority of ATS users do not understand the fundamentals of economics and thereby believe that anything done that goes against the "system" is automatically righteous and a good idea.

reply to post by For(Home)Country


Wait professor, why do we need banks again?

Because they loan money

But they are loaning your money out, can't you loan your own money out

Tell us professor, why do we need banks?

They are simply robbing machines

December 7, 2010
This is what I am going to do in NC, USA.

I am going to strike. I am not going to work.
I am withdrawing all I have out of my bank account.
I am not gonna eat at any public restaurant.
I will not solicit any business establishment (except to withdraw funds).
I will not purchase any gasoline.
I will not purchase any products or goods or services.
I am gonna fast and pray to God for his divine intervention.

And everything I'm doing is perfectly legal.
Let the chips fall where they may and let
God's will be done.

I am NOT asking anyone to join me or participate
or act or inciting violence in any way.
I am just relating my intentions.

Originally posted by Mdv2

Originally posted by Mr Poopra
I wish we had balls like this in the United States. If they pull this off, France's reputation is restored.

It's time we start entertaining this idea here.

So you want to experience another Great Depression, but ten times worse? Do you realize what you are saying? The current system is rotten to the bone, but you cannot possibly wish it to collapse, because the chaos is going to be extreme.

edit on 28-10-2010 by Mdv2 because: (no reason given)

I believe you are wrong on this in two ways. First is The Great Depression and the bank runs that came about, which were purposely carried out by none other than JP Morgan! History anyone??? Second, Americans definitely have balls.... let's not forget why the Frenchie's are free in the first place and not speaking German right now!

Back to the topic at hand... it was rumors spread by JP Morgan that the banks were completely broke which was what caused people to run out and take their money from the banks, and it was done intentionally to craft the beginnings of the Federal Reserve.

Why you ask?

The main reason was to get the Federal Reserve created. But this had to be done through a carefully crafted plan. If everyone believes the banks are broke, they will take their money out of the bank and hold on to it, causing an excess amount of cash to enter the money pool. This is what causes the value of the dollar to go down (because there are so many more of them available), which in turn causes the hidden tax of inflation. When that happens, the same exact gallon of milk or gas costs you double the amount of paper cash (because the dollar is worth half of what it was), but did the amount of milk produced change? Did the demand change? NO!!! There is still the same milk coming from the same cows in the same amounts with the same amount of supply and demand, which is the cornerstone of economics. This is where the problem resides.

Now look at the big picture on this for a moment... in the above scenario, you've just given twice the number of dollars to the supermarket for the same food you bought a week ago, who gives twice the amount to the farmers and food companies, who then puts twice the amount of dollars back in the bank. So without doing anything but spreading a rumor, JP Morgan and his banking pals just got double the paper cash from every single person all the way from the consumer to the manufacturer for the same things you were buying last week.

Next, the banks start holding those dollars and stop giving out as many loans, not completely closing the tap because that would look suspicious.... why would they do this?

Because too many loans would keep the inflation level the same by keeping the money in the pool, and that doesn't serve the purpose of the banksters.

So they keep the money, thus reducing the amount of cash being put back into the money pool. So what happens next because of that?

Less money in the pool means the value of the dollar goes UP!

What does that mean for you and I?

It means we just gave away more money for nothing... literally, nothing!

What does it do for the banksters?

It doubles the worth of the money THEY are holding after YOU AND I have had to spend it all to survive.

Deflation kicks back in eventually (after enough money has been collectively gathered from the pool), just coincidentally before a full blown revolution breaks out, and then the money becomes worth something again, and the banksters now have ten times the wealth that they had prior and people forget what happened because they are happy and complacent that they can live somewhat normal lives once again. This has been going on since the inception of the Fed here in the US, and longer than that in Europe and other countries with centralized fractional reserve banking.

While I'm on my rant, the whole bailout thing was the biggest scam ever and not only that, it wasn't the first time it's happened! Has anyone ever heard of Amtrak? Just one example but a good one. Well, a little history on that will reveal that the same big banks of today stood in front of our government in the 70's because Penn Central Railroad (aka Conrail), which was a giant at the time, was going under and needed to be bailed out with hundreds of millions in federal money because "they were too big to fail" and it would cause a domino effect on the economy. (I'm not making this up, look it up yourself) The REAL reason is because the big banks had poured "real" money into Conrail as investment capital and were in danger of losing it all, so rather than cut their losses, they decided to get paid back through the tax payers. Since the banks only had a certain amount of actual money in reserves, but had loaned out so much to Conrail, they were "upside down" and would go bankrupt without intervention. In return for Congress helping the banks to fund Conrail through the tax payer, the government took part ownership of Contrail. After everything was said and done, the tax payer's taxes paid the banks back the money they lost (on a poor investment decision), the federal government got a bread basket that they could continue to sink grossly inflated costs into using tax payer money for decades to come, and we get Amtrak to ride on for outrageous amounts of money EVEN THOUGH at the same time, our taxes still pay the billions it costs to operate it year after year. Does any of this sound familiar? It also happened with several other businesses and banks, and it's happening again now thanks to the banksters and their friends in Congress.

These "people" (if that's what you call them) are narcissistic. They look at us as children that need to be taken care of because they see us as being too stupid to do things the "right way", which is how they think things should be done. We are nothing more than slaves to them. They see themselves as god-like because of their money and power, thinking that because everyone else doesn't have the same money and power, that there is something "special" about them that puts them above everyone else. The biggest problem is that they have enough money and assets and properties to survive extended recessions, depressions, bank runs and anything else you can throw at them. This is what makes it so hard is because we've allowed them this much control and the only way out is, as history has shown us, a massively bloody revolt where many people will turn against the elites and take from them what has been taken from us for decades, if not centuries. It has happened before, and with good results in most cases, but we have short memories.

I encourage everyone to check out the following links and video (video explains things perfectly imo):

Who Owns the Media?

Who Owns the Fed?

REAL Economics

All the Known Bailouts

Bailout Visual



My hope is that history serves as an example and the people will revolt. Yes, it would be bloody, yes there would be violence, yes it would be hard (what revolution isn't?)... but in the end, it would be worth it to be truly and completely free once again than to be slaves to the people who print the paper that we all find so damn important.

~Namaste

reply to post by TheDeader

Oh Lordy, they ought not have let it get out... their own TPTB will do something to prevent it somehow!!!

Also, there's surely not enough money at the banks to give all the folks all of their money, soooo... major meltdown with worldwide implications. Makes me want to go ahead and do it myself right now as a precautionary measure. (My husband would have a coronary, tho!)

Originally posted by For(Home)Country

Originally posted by oozyism
reply to post by Realtruth

 

Well I got zero dollars in any bank, and I want to encourage every one to do the same.

I still stand with my point, why do we need banks?

No one needs a BS robbing machine

What is the solution?

What do you mean what is the solution?

The solution is to get rid of banks zzz

Hey genius, if there are no banks in the economy, how do we expect the big corporations that you love so much to invest and make the products you use everyday? Did you not know that Investment equals savings?

Don't want to put money in the bank? Fine. But you can kiss the future development of the products you use every day goodbye. The Government can't just hand out newly printed money to corporations to stimulate investment.

I think the majority of ATS users do not understand the fundamentals of economics and thereby believe that anything done that goes against the "system" is automatically righteous and a good idea.

edit on 043131p://444 by For(Home)Country because: (no reason given)

I think you're on ATS also, so that must include you?

Just curious... what qualifies you as the "genius" in economics that you feel compelled to insult someone?

Why not just better explain your position stated above and perhaps explain how your above statements demonstrate a benefit to anyone other than the elitists and corporatists?

~Namaste

Originally posted by Mdv2

Originally posted by Mr Poopra
I wish we had balls like this in the United States. If they pull this off, France's reputation is restored.

It's time we start entertaining this idea here.

So you want to experience another Great Depression, but ten times worse? Do you realize what you are saying? The current system is rotten to the bone, but you cannot possibly wish it to collapse, because the chaos is going to be extreme.

edit on 28-10-2010 by Mdv2 because: (no reason given)

There comes a point where you just have to uproot the weed, instead of cutting of its top. I think our system is so corrupt, the only thing that can be done is to start over. Corruption is a cancer that has permeated through every branch of government. The whole thing now is rotten to the core. How do you "fix" that? You can't.

It's time to pull the weeds and plant a new garden. I think our only weapon is the money we think we have control over.

Originally posted by oozyism
reply to post by Realtruth

 

Create a more fair system that doesn't treat us like slaves.

How? This is much more complex than it seems...

This is a message to those a$$holes who think they can control everything without any repercussion. They even got our governments by the balls.

They robbed us already, the banks robbed us, then used our money to pretend saving themselves, which double F'd us like a threesum.

Sorry for the angry rhetorics but I have every right to be angry, if you are a good slave for the banks, then continue your support, the rest of us are sick of this BS.

I 100% completely and totally agree. There is more than enough documented proof of this, see my other post with links.

Don't get me wrong, they need a lesson, I actually believe they should be captured, hands and legs tied up, and then hanged.

Spot on. I don't see anyone else offering a better way for the banksters and elites to learn and not repeat their mistakes. There has to be a clear message from all of humanity that this type of slavery will not continue nor will it ever be permitted again once we rid ourselves of it.

~Namaste

I hit attending on the french fb page and left a comment that essentially said I would do that here in America and that was 15 mins ago and already 3 people liked it lol