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December 7 Is The Unofficial Pan-European Bank Mutiny Day
After German blog "All is Smoke and Mirrors" floated an idea of an organized bank run (something attempted previously in the US without much success) in France in response to French austerity protests (which have resulted in no gains), the effort has since expanded to a pan-European organized bank run day on December 7, 2010, and has metastasized to Italy, Germany, the Netherlands, the UK and Greece. We are confident that very soon the rest of Europe, which is currently gripped in a climate of extremely unpopular austerity, will join in this symbolic protest against banking, which unlike the US, may just succeed, considering the European banking system is in total shambles, and in far worse shape than its American counterpart.
Since virtually all actions in 2010 by the global central banking cartel have been geared toward stabilizing the European banking system which continues to wobble on the edge of a complete systemic collapse, perhaps the marginal withdrawal of a few billion in deposits could be just the straw that forces a reset first in Europe, and shortly thereafter in the rest of the globalized developed (and then developing, proving what a joke the whole concept of decoupling is) world. As America has demonstrated so very well, 25 weeks of consistent withdrawals from domestic funds (sorry CNBC, there have not been inflows yet, confirming yet again that fact and propaganda don't mix yet) have resulted in a quarter in which bank earnings were simply said crushed. Had Americans followed through and withdrawn their deposits from banks it would have been the final straw. Luckily, the lack of organization among the US population gave the US banking system a reprieve. In Europe things are different: banks are not as reliant on trading, however, they are far more reliant on a stable deposit base to sustain the Ponzi. Therefore, even a partially successful withdrawal campaign could have far more dire consequences to the continent's banking system, and bring the financial system to its proverbial knees.
And before some accuse the blog's activism of some vile form of megalomaniacal quackery, we should highlight that the action has already been noted by such reputable newspapers as Suddeutsche Zeitung. Furthermore, in just 24 hours 1,500 readers have pledge their support to the action's various Facebook support sites, and another 48,000 are on the waitlist. We hope that more alternative media (the mainstream will unlikely support such a radical venture) catches on, and more Europeans realize they have all to gain and little to lose from forcing the balance of power to shift away from the banks, and into the hands of the people.
As for those who wonder why Europe's banking is much more fragile from a deposit base perspective, we present the graphic below comparing asset bases of American and various European banks: since both Europe and the US have roughly comparable GDPs, one would assume that the two regions' banking systes would have the same asset bases. That, however, is completely wrong. In fact Europe's asset base is roughly ten times, if not more, as great, even as it supports an economy the same size as that of the US. Which is also why it is far more unstable as the marginal utility of every deposit dollar goes that much further via the fractional reserve banking model, and supports that many more assets. In other words, every dollar withdrawn in Europe would have roughly the same impact as 10 in the US.
Which is why this action actually has a chance of success. And even more so that when it comes to political activism, Europeans tend to be far more ready to participate in joint causes, unlike their apathetic US brethren, who are perfectly content to watch the world series and collect their unemployment checks (soon expiring).
Perhaps in a jesture of poetic irony, some two hundred years after America showed the "Old World" what miracles an emancipated and ambitious population can do when it revolts, it will be the Old World's turn to return the favor, and rebel against that most destructive of concepts ultimately created by this splinter experiment from across the Atlantic: Central Banking and a fiat system in which money literally grows on trees.
For our European readers who wish to participate in this experiment, below are the various facebook support pages:
h/t Kyle
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Watch the YouTube video "EASING into Oblivion" (http://youtu.be/wHLicYdAa5g) for more information on the Greatest Wealth Transfer in U.S. history.
More bailouts for the banksters at the expense of the PEOPLE!
Ride The Wave.
I'm waiting for the German mark to return.
They never left!
Tyler, thank you for posting this.
Don't forget- when you pull €1000 out, don't forget to buy a 1oz gold coin with it. That'll send an even stronger message.
Let's make it really interesting - have a gold/silver "demand physical deliver" campaign on the same day.
now this is more like it - at present where do you think all the cash that supposedly being withdrawn will go on - ipads? booze, pre christmas sales perhaps ? - seriously deluded if they think they can bring down a corrupt banking system just by withdrawing personal cash (now if you got people cashing in their 2, 3, 5 year bonds etc held with the banks that might cause some concern) - if i was cynical enough i'd say this was a central banking plan to get people spending again...will give a nice rosey glow to an otherwise dismal christmas shopping season....now if they'd just buy pm's with it and join with the rumoured asian push on the silver market there could be an outside chance that something could happen (i.e i could sell at a fat profit and buy back in once the market (JPM) regains control) - the banking cartel can stay corrupt longer than most people can stay solvent.....where's John Law when you need him...
commodities like NAT gas may be a place to put your money as well. It has been pretty beaten down and eventually will rise again. It is just nice to sell dollars and own something real. ETFs like UNG seem to screw you on how they are structured but at least they own contracts. ETN's are more paper claims on real goods. I suppose the same could be said of "contracts" but ETNs are even crappier.
"The banking cartel" only stays in place as long as people stay solvent. If everyone stops using money and refuses to pay their debts, there is no need for banks. Parasites do not survive the death of the host.
Gold bitchez! Dec 7th bitchez!
Sorry, I had to get that out of my system.
...back to your regularly sheduled program...
This campaign is originated by the french.
STOPBANQUE – INITIATIVE CITOYENNE SPONTANEERETRAIT MASSIF D'ARGENT ET FERMETURE DES COMPTES EN BANQUE (ÉPARGNE)
"Things fall apart; the centre cannot hold"
"Economist Colm McCarthy has starkly warned that the International Monetary Fund will be running Ireland by February"
http://www.independent.ie/national-news/mccarthy-warning-imf-is-at-our-d...
"Irish Finance Minister Brian Lenihan may have just one month to stave off an international bailout"
http://www.bloomberg.com/news/2010-11-02/ireland-may-have-just-one-month...
“Debts exist to be restructured,”
http://www.ekathimerini.com/4dcgi/_w_articles_politics_100002_01/11/2010...
"EU leaders have conclude another agreement, and once again the bond markets panic"
http://www.eurointelligence.com/
It is not that we are living beyond our means: we are living beyond the willingness of lenders to lend. - Colm McCarthy
Classic encapsulation of the governing paradigm.
My wife and I were doing this every month and buying pms. Been letting a bit build up for a larger buy of gold so I will happily remove it from the bank on the 7th. Will start contacting my friends too, see if we can get ireland on that list too.
Just one thing though, what's all this BS about americans not protesting because of social security? Europe has been a welfare state since ww2, don't hear us sitting idly by. Now, a lot of this mess originated from the good old USofA, why don't you guys get out and get on with it? Getting sick of the apathetic excuses of the Americas. If the tea party is the best you can come up with as a protest vote then clearly we are all doomed.
The fat, lazy and stupid stereotype of America is getting hard to defend guys, social security has nothing to do with it. (You should see what the French get)
Bitcoin is anonymous digital cash. See the recent rally in Bitcoin: http://themonetaryfuture.blogspot.com/2010/10/rally-in-bitcoin.html
"Digital cash is to legal tender as BitTorrents are to copyrights."
thanks for the link...nice to know more peeps are opening their minds to open source currency.
The fed will simply plus up the swap lines...
Amazing how such absurdity can generate some genuine alchemy. The micro imperatives assert themselves once more.
go buy silver now
The government will then send a goon squad to every home and demand there paper money back.
this is a great idea...so if you dont listen to us, we make you listen...I am in...
Ok y'all......you are thinking about this all wrong.
Yes...it would be great if we could crash the system on one day. But this will take weeks if not months. All the banks have to do is set a limit on what you can withdraw as stated above. This has to be a MONTH LONG EFFORT to not only "cash out" of your multinational bank. You have to be BRAVE and cash out of the stock market as well.
You have to be willing to go without your multinational fast food chains and only spend money at your local eateries and locally owned grocery stores. You have to be willing to spend less money on multinational owned gas stations. YOU HAVE TO BE WILLING TO ACTUALLY SACRIFICE TO STARVE THE BEAST.
Until y'all are willing to do that...all this is just lip service.
I will wthdraw some funds on Dec. 7th in a symbolic gesture.
However, the real hurt is coming without fanfare; in fact just the opposite. Defaulting on debt will remove money from the system permanently, and has more of a direct longterm hit on the banks. It is happening massively and quietly.
True...put paying off your debt and living on cash and not cc's is much better. Only when I am sure the system is toast will i unload my available credit on needed items such as matches, candles, beans, rice, seeds, yard tools, axes, and the like.
Oral sex leads to other sex for teens
Oral sex is often a precursor to teenagers having intercourse, concludes a new study published in Archives of Pediatric and Adolescent Medicine. The study asked more than 600 high school students in California to report on their sexual experiences by filling out surveys twice a year, from the beginning of ninth grade, in 2002, to the end of 11th grade, in 2005.
WOW..Shocking!
We need to decouple from CNN...this is truly dumbing down at a frightening level. Exactly who is this tripe aimed at? What percentage of Americans would find this newsmaking?
It was true for Connie Lingus and Phil Achio.
why was i not informed of this earlier!?
the only way to protest the bailouts is to withdraw money from the banks that received any bailout money. i personally have boycotted chase, citibank, and the like. I now only use small local banks.
an organized bank run will be easy to do if you're living off the grid. I just started a business and so it will be more difficult. nevertheless, it can be done.
Zerohedge article is among the references on the spanish facebook page event info. Gonna get heavy traffic soon here.
http://www.facebook.com/event.php?eid=171857536163850
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December 7 ... What a coincidence. Deathwing is scheduled to maul Azeroth on the very same day.
Join our US Facebook group here:
http://www.facebook.com/home.php?sk=group_175858435760629
We will launch a parallel economy May 3, 2011 at night. It will enable participants to obtain significant additional income through access to a prosperous economy. This free market economy will be without credit.
Unity, Peace, Security, and Prosperity.
This campaign is originated by the french.
STOPBANQUE – INITIATIVE CITOYENNE SPONTANEE
RETRAIT MASSIF D'ARGENT ET FERMETURE DES COMPTES EN BANQUE (ÉPARGNE)
Nice to know,
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STOPBANQUE – INITIATIVE CITOYENNE SPONTANEE
RETRAIT MASSIF D'ARGENT ET FERMETURE DES COMPTES EN BANQUE (ÉPARGNE)
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