Now here's a form of protest that just might work: Bank Transfer Day

Would this effect the economy, if so make it worse or better??

maybe this is all part of the divine plan to trick the populace into believing they are rebelling, but actually doing what they intended as planned. I think that we will have chips in our forhead or hand that have our money or credits on them like my religion says. And evolving to that point in time will take a step by step evolution. In order for the next evolution to take place hard currency will need to be replaced with credit. Credit has no weight nor does it require physical means to be transported. This sort of uprising is simply in the cards. WE all live in a house of cards...nothing more

This sounds like a great idea and everything, and maybe the damage it could do will be better for us in the long run? But I'm pretty sure the banks don't actually have all the money that they should have, meaning if everyone took out their money a lot of people are going to get to the bank and find there's nothing left for them, and that, would suck.

Maybe we could get everyone to withdraw like 10% of their money one week at a time? I don't know.

The fact of the matter is we have a huge problem that we let grow for way too long and now we're stuck in a corner and there's no pretty way out, there's nothing we can do to avoid a lot of suffering for a lot of people. If we do nothing and the system keeps chugging along as is, we're screwed, the world is screwed. If we take action to end the system, the majority of us will be screwed...

But at least with option B, there's a point to grow from, a point to start again new, option A leads us and our future generations deeper into this collapsing prison, I mean world.

On a related topic, the Wells Fargo "Debt Card Activity Fee" starts today in at least Wisconsin so please check your local area to see if yours starts today as well. I read that this is $3.00 per month if you use your debit card at all, but they don't list the amount right on the site, they just state that it will show up on your November statement.

"This fee applies to purchases or payments (including recurring payments) made on or after October 14, 2011 using any debit card, check card or ATM card linked to the Wells Fargo checking account. This fee applies in any monthly statement cycle when you make at least one purchase or payment (U.S. or International) using any card linked to your account. (The use of a Wells Fargo or Wachovia ATM is not a purchase or payment.) The fee will appear on statements starting November 14, 2011. Note: Retailers may also charge a fee for purchases. The Debit Card Activity fee is waived for customers with the PMA Package and for Analyzed business checking accounts."

You can find additional information on wellsfargo.com by searching for your specific state and taking a look at the fees for checking accounts.

And for those wondering, the PMA Package requires a total relationship with Wells Fargo (Mortgage only counts 10% of the total balance) of $25,000 or more per month. So if you have more than $25,000 each month with them they will graciously waive your $3.00 fee.

how would a family member go about getting out of BOA if they hold the mortgage to their house?

this is a great idea, for those who can't go to protests, we can all do this

Originally posted by FortAnthem


The best thing about it is you won't have to look like a tool standing out in the rain holding a cardboard sign with a silly shopping list of demands.

Bank Transfer Day: A Protest With Your Money

The social uprising — called "Bank Transfer Day" — encourages bank customers to take their cash out of big banks and put it in smaller banks and credit unions instead. The movement is ostensibly in response to aggressive fees institutions are rolling out to recover profits lost from new financial regulations, notably Bank of America's (BAC - News) decision to stick debit card users with a $5 monthly fee and Wells Fargo's (WFC - News) $3 test of the same.

Here's an explanation from the organizers of Bank Transfer Day, straight from the group's Facebook page:

"Together we can ensure that these banking institutions will always remember the 5th of November!! If the 99% removes our funds from the major banking institutions on or by this date, we will send a clear message and give the 1% a taste of the fear that we experience every day when we aren't able to pay for our rent, food, medication, utilities, student loans, etc."

As of Oct. 10, the group's organizers say 6,500 Americans have already signed up in support of the event. How many of those consumers will actually yank their deposits from big banks is an open-ended question that won't be answered until Nov. 5, if at all.

Yahoo News


My bank recently changed names and left me underwhelmed with the changes so I was thinking of taking my pittance down the road to the local credit union anyway. Imaging what would happen if millions of people did this and took all of their money out of the big mega-banks!


Maybe this is the way a real revolution could work.

Im surprised people actually protest these days...protesting does nothing ...boycotting does everything.....this kind of stuff does indeed work.

A few years ago I moved into a rural community. The banking choice was either a Major bank (4 miles), or a farmers bank (8 miles), the latter owned by an insurance company.

I went with the farmers bank.. Unfortunately there are no Credit Unions within 50 miles.

My SS check goes to the bank.

Some years ago I realized that the Dollar was in serious decline and could end up being as valueless as the Deutch Mark was when Hitler took over Germany. So I invested in Silver. (The real hard stuff you hold in hand, not stocks) At today's market price, my investment more than doubled. That is my money doubled in value over 4 years. Go to a bank and you would be lucky to see Your money gain 25% in 4 years.

Why give money to a bank. They should be a place for daily transactions, not long term investment.

Likewise I'm not a gambler, so the stock market is out.

Silver is presently undervalued. Gold is about $1600. an ounce, and the accepted ratio of gold to silver is 1:16 so presently silver should be more like $100 an ounce rather than in the low $30's.

The value of Silver is being manipulated and eventually, and probably very soon, that manipulation will fail and silver will rise. If you invest in silver right now, and silver rises to its predictable value, your investment will more than triple.

When I was a kid, a silver dime would buy a candy bar (note that candy bars weighed more then than today). It would buy a cup of coffee, or 2 doughnuts. It would buy 1/3 of a gallon of gasoline. It would buy a loaf of bread or 1/3 lbs of butter.

When I was a kid mom hauled me around while she shopped in the grocery store. She would fill the shopping cart till it held no more, and her bill was rarely over $55 and that included meats. (She complained about spending that much on groceries back then).

Yesterday I bought three small bags of groceries at a discount store and spent $68.54

What I'm trying to point out is that if our Dollar fails, and it will, you will need thousands of dollars to buy your food, but an ounce of silver will still buy you a heaping shopping cart or more of food.

Heed my warning. Don't put your money into savings accounts or stock certificates. Put it in silver.

Keep only enough money on hand in cash to pay 2 months bills.

Originally posted by openminded2011
I dont think there is enough money involved to make a dent. Most people have less than 1000 dollars in their bank accounts these days.

You have to remember that the banks work on a fractional reserve system; that means that they can lend out 10 times the money that they have in their vaults (or computers nowadays). When you take out $10, that is $100 dollars less the banks have to lend out. If everybody were to take out their $1000, that would be $10,000 per customer that the banks would lose in lending power.

Thousands of people removing just a few bucks at a time will add up exponentially against the banks as they will have less and less deposits to back up their fraudulent loans.

Some say this is a run on the banks that will destroy the banking and lending system that props up our economy. I say let that system fail, the banking boom and bust cycle is what causes these finincial crises on a regular basis. People need to learn to live within their means and the only way we're gonna do that is to destroy the monsters who enable us to get ourselves buried in debt.

We really aren't taking the money out of the banking system anyway by doing this, just moving it to smaller, more customer friendly and accountable lending institutions who will manage the money more wisely than the "too big to fails".

Credit unions operate for the benifit of their members and the local community. Big banks operate for the benifit of their shareholders and CEOs. I've never heard of a credit union giving their execs obscene bonuses while the CU was bleeding money and facing insolvency. Last I heard, I don't think any credit unions took any of the TARP money either because they don't gamble with their member's money.

If we destroy the big banks and the system they have built up, sure, it will create some major financial pain and strain on the economy. It takes pain and suffering to break away from a broken system and, when the dust settles, the world will be a better place for our having slain the big banking dragon.

Banks do nothing but drain money from the economy and the little guy while propping up a false economy based on debt, not real value. The sooner this system dies, the better.

I'm now actually STRONGLY considering this. Perhaps I've been blind/ignorant to all of this, but this morning, it really hit me-HUGE wake up call. As of this morning (Oct. 14) my citizens bank account (and Im assuming a lot of other peoples) is "temporarily unavailable" I cant access online banking, the 800# for account details is down, and they cant access it at the branch either. Therefore, I have no idea what is in there, if my bills were paid or anything. Of course I understand the risks of technology, but this is scary! Credit Union-maybe...the poster who uses a wool sock in a safe sounds a lot better!!!!!!! lol

Don't forget, there is still at least some regulation on banks. If we remove enough of the deposit money, we limit their ability to loan additional funds, and we even handicap their credit card accounts!!

Move the money away from the global conglomerates, and move it into your local community!! Each $1 of your deposit money can end up being as much as $14 of investment via loans and interest back into your community. As long as it resides in a global bank, it could go anywhere, but as soon as you put it in your credit union, you can be assured the majority of it is staying right in your town.

This movement actually has a LOT OF TEETH!! It is powerful to move that deposit money away from them and back into your own town.

Everyone should do this immediately. It will work, and it will have global implications!

Wow the fact that this thread has gotten so many flags and stars tells a lot about the collective intelligence of this forum, and the FACT that most if not many of you have ABSOLUTELY NO IDEA what you are talking about.

This would send the country into another GREAT DEPRESSION, worse than the one before from the cause of massive bank runs.

Sure the first million or so people to withdrawal their money would be fine, but as soon as the banks ran out of money, the rest of us would be completely screwed. What then? Your great idea to withdrawal all this money would completely bankrupt the WORKING CITIZENS of this country.

You all who flagged this thread and think its such a great idea are ALL UNEDUCATED MONKEYS

DENY IGNORANCE!! And do your reseach about economics and banks runs so you can understand how terrible of an idea this is

Use their techniques against them!

They play dirty

They are organized

They plan # before they do it.

THats what OWS is about.

Using their techniques against them!!!

Play Dirty!

Be Sneaky!

Think Ahead!

But do it all for the greater good,
not like them,
who only do for the good of a few.




reply to post by xX aFTeRm4Th Xx

Originally posted by xX aFTeRm4Th Xx
Wow the fact that this thread has gotten so many flags and stars tells a lot about the collective intelligence of this forum, and the FACT that most if not many of you have ABSOLUTELY NO IDEA what you are talking about.

Here we go again....

This would send the country into another GREAT DEPRESSION, worse than the one before from the cause of massive bank runs.

The people withdrawing their OWN hard earned money isnt what will cause a financial collapse, its been the fallacies of The Federal Reserve and our government that has led us to this point. Printing money out of thin air, bailing out some of the worlds greediest companies, banks overcharging and adding additional fees, and the lack of jobs is why we're at this point.

Sure the first million or so people to withdrawal their money would be fine, but as soon as the banks ran out of money, the rest of us would be completely screwed. What then? Your great idea to withdrawal all this money would completely bankrupt the WORKING CITIZENS of this country.

Do you know how many WORKING CITIZENS have already been robbed by the banks? Its not just about withdrawing the money but reassigning the funds to local credit unions. Also, the government has the FDIC to reimburse those who lost money in situations like this. But we cant really depend on them anymore can we?

You all who flagged this thread and think its such a great idea are ALL UNEDUCATED MORONS

How do those wanting to be in control of their hard earned money and have it localized mean they're uneducated morons? Do you have any different ideas or suggestions?

reply to post by xX aFTeRm4Th Xx

This would send the country into another GREAT DEPRESSION, worse than the one before from the cause of massive bank runs.

Yes. Exactly.

The depression is inevitable. Easy credit, outrageous leverage, a global economy we weren't prepared for, a leap in technology that outpaced law-making, and risky lending practices have now left the economic situation beyond repair. We MUST dive into the depression, take our lumps, let the FREE MARKET recover to sustainable levels, let the over-leveraged businesses fail, let the bankruptcies and foreclosures peak, and let new laws be written to give a better legal framework to the emerging industries and markets.

So, the only question is, do we let the bankers and elites control the when, where, and how? OR, do we control it ourselves and make sure we are represented?

Lets move our money from global corporations to local proprietorships and cooperatives. Lets allow the system to fall on our terms so we can be prepared. Lets take our lumps and get started in the rebuilding phase.

I think you are exactly right, and I think we realize you are right, and that is the whole point of the movement.

reply to post by getreadyalready


Ok well said, I can definitely respect that.

But do you want to be the one to lose your entire life savings? Because I certainly dont.

Guess I'll just have to be one of the first few to withdrawal my money, and screw the other citizens who that fail to act immediately out of their hard earned savings

More so a catch 22. A lot of people are going to lose either way and realistically this would never happen. Not sure what the solution is, but it seems like a reformation and policy of transparency between big banks, policies and spending would be a much more viable solution.

I recommend that people not wait 'till the 5th of November to move their money. Also, I think the credit union is the better option than the small, local bank. I put off looking into the CUs for years because I've been a happy customer of a small local bank for years with no problems.

Then, a few months ago, I started having problems. At first, my direct deposit money wasn't available at Friday, midnight as it had always been. My wife used to go out food shopping late Thursday night after the money went in for years. I actually had to call out of work that morning because I didn't have money for gas to and from work. I called my work and they said the money had been deposited, as usual. I went to the bank after it had opened and the teller told me that the bank puts a 24 hour hold on my money. She actually lied to my face, telling me this had always been their policy but, said this problem would be solved in October when my small, locally owned bank merged with a larger, reigional bank.

They created a problem in order to make it look like the merger would make things better and solve the problem. Like I was stupid and would believe their lies that the bank had always done that. Then, when the merger went through, they closed on the Saturday when a check came in for my wife that we needed to pay our bills on time. To add insult to injury, they put a 24 hour hold on that check on Monday (after our bills were already late) because it was an out of state check. We never had that problem before the name change either. So much for improved service.

My point is; even if you belong to or move your money to a smaller, local bank, there is nothing stopping the big mega-banks from taking over and screwing everything up for you. Take your money to the local credit union where the chance of a hostile take-over in much less likely.

reply to post by xX aFTeRm4Th Xx

but it seems like a reformation and policy of transparency between big banks, policies and spending would be a much more viable solution.

That would have been a great solution 5-10 years ago, but I think that window has closed. It would require a strong and reputable administration and congress to initiate and enforce it, and it would require some voluntary commitment by corporate mega-conglomerations that operate outside most national laws. I don't think we could get such a thing accomplished at this stage, we just don't have the influence and power to make it stick. I don't even think the Obama Admin or the Congress has the power to pull it off, unless they were to suddenly come together as a cohesive unit, and that doesn't look possible.

Nope, I think at this stage, it is time to pull the plug, drain the dirty water, wipe down the tub, and start over.

The depression was caused by exactly the situation we are in now. Not because of everyone pulling money out of accounts. The depression was caused by extreme credit card debt, the mass misappropriation of wealth, and the farmers not being able to pay back loans. This caused the bubble to burst, true everyone pulling their money out didn't help but it didn't cause it. If you have money in an account, the banks are required by law to have that money. This is due to the FDIC reforms, so pull all of your money out, if you have less than 100,000 dollars in your account.

This plan would have the effect of getting more money out further from the central banking cartel. It would stimulate the local economies around the nation and the world if this can be copied in other nations as well. It would throw a lot of financial weight further from the central banks and put more into the hands of your neighbors.

It would also give the big banks a Nov 5th they would never forget.

It might get the notice of their largest shareholder at the same time.
www.nytimes.com...