This page has been archived and commenting is disabled.
Guest Post: Legislation Proposed To Criminalize Calls For A "Run On The Bank"
Submitted by reader Jan
Legislation proposed to criminalise calls for a "run on the bank"
There's something going on in the Netherlands: http://nos.nl/artikel/207170-oproep-...strafbaar.html
Calling for a "bank run" in public will possibly become a criminal offense. Ministers Opstelten of Security and De Jager of Finance are preparing a proposal for a new law.
They want to be able to penalize people who are openly calling for a "bank run" a maximum of 4 years or a fine of 19.000 euro. According to the ministers a bank run can seriously endanger a bank.
The ministers say that the collapse of a bank in case of a "bank run" is a question of hours instead of days, since a call for this can be spread fast, using prestent methods of communication. Banks cannot defend themselves from this, and thus must acquire protection under the criminal law, is their thought.
DSB: Reason for the tightened methods is the demise of the DSB Bank. Account holders took out 600 million euro from their accounts in this bank, after the call of Pieter Lakeman, of the Foundation "Hypotheekleed" (Motgage suffering).
The bank run was the initiation of the bankruptcy of the bank of Dirk Scheringa.
------------
What happened to the DSB Bank then?
The behaviour of the president of De Nederlandse Bank (our State bank, our "FED"), Noud Wellink, was part of the reason for the bankruptcy in 2008 of the DSB bank. Politicians called for his (voluntary) resignation, since it became widely known that he acted wrongly, by putting the DSB bank under suspicion in public, in name of the Nederlandsche Bank, and by allowing a banking license in the first place. (at least, that is the official message, it was very clear that the reputation of the DSB was tarnished by the Central Bank) The president of the DSB, Dirk Scheringa fell for the bait and took out his own money. Later he put it back, but by then, it was too late; by then, the warning was issued, and the run had begun.
http://www.elsevier.nl/web/Nieuws/Ec...ter-gekund.htm
This criminalisation of the "run on the bank" existed as plan (Scheltema Commission who investigated this) already after the DSB demise. (concluding in june 2010) http://www.rnw.nl/english/article/du...ent-under-fire
Financial Activism.
As of late, there's been several campaigns to mobilise the "silent majority" into a more active stance against taking on private debt and risk, of private banks.
Notably, the "run on the bank" as proposed by french football player Eric Cantona, as well as the "Buy silver, crash JP Morgan Bank" initiated by agent provocateur Max Keiser, are examples of "financial activism". The purpose of these actions is to break the stranglehold of banks that speculated and lost (and are basically insolvent) over society itself, which is, at least in the Netherlands, very sound. There's political resistance (of aforementioned Minister De Jager) to "pay for debt of other countries". At least those are his words.
Making such acts of "financial activism" illegal is unconstitutional in the Netherlands.
(art. 1.7 freedom of speech, art. 1.9 freedom of protest)
http://www.st-ab.nl/g1/1-83019ks02-grondwet01.htm#1.7
Of course the overleveraged position of banks, and their key role in the present Fiat currency system is the cause of this vulnerabillity. This should have been adressed, not the wish of the savers to take out their own money, and warning others. That is the elephant in the room; that banks here aren't necesserally in a worse shape than anywhere else, but are extending their risk to society at large, because they're engaged in both speculation, and in handling the day-to-day financial affairs of corporations and individuals.
Drs. Jasper Blom of the UvA (University of Amsterdam) stated in a publication that the Basel Accord, to stipulate rules for banks to restrict risk, have been "watered down", and that essentially nothing has changed since 2008. Politicians are, according to him, uninterested, and unconcerned, while it is their responsibillity.
http://www.aissr.uva.nl/aissr/home.cfm/6A9DAB24-D300-4A1E-A57C7FDEC0F6AB7F
Is this important?
Yes, the positition of the Netherlands in the international banking cartel is very important. Moreover the position of the Netherlands is very important to the american government, as can be seen by the latest Wikileaks cables.
The controller of the dutch stockmarket, the Euronext is owned (since 2006) by the NYSE !
http://www.rtl.nl/%28/financien/rtlz...ten2586136.xml
And: "In 2009, the Netherlands was the largest destination for United States direct foreign investment, with 13.4% of the total. This made the United States the largest direct foreign investor in the Netherlands. Vice versa, the Netherlands was the ninth-largest direct foreign investor in the United States in 2009. In 2008, however, the Netherlands was the largest direct foreign investor in the United States."
http://www.state.gov/r/pa/ei/bgn/3204.htm#relations
So, with this move, the dutch government wants to protect it's banking system, at the cost of the liberty of individuals. A dangerous course of action.
»
- 12140 reads
- Printer-friendly version
- Send to friend
- advertisements -
not proud to be Dutch
Anybody even contemplating pulling THEIR money out of a bank will be caught by....THE PATRIOT APP
http://fedupmontrealer.blogspot.com/2010/12/patriot-app.html
I sometimes wonder if we are in some strange filming of 1984...Orwell eat your heart out!
Been there. Done that.
http://video.google.com/videoplay?docid=-715862862672743260#
Oh, the irony!!!
Hey, how about we criminalize a bank not being able to withstand a call for a bank run, instead?
For fuck sake.
good idea. laws are cool. now if we could just get some enforcement....
Funny you should mention that. Dreams often are just models or tests to see how you react. The dream I JUST HAD was I was driving my car I couldn't see the road lights were shining on a dirty windhshield a cop pulls me over because I wasn't able to stay in the right lane and he wouldn't let me pull over into it because he as aggressively following me in my blind spot. Simulation ended with me deciding to crush his skull with a hammer.
Test also woke me up because it was using energy flooding to try to get me to "react" unconciously. This always stirs me up and makes me come back out of sleep.
sorry.
in the united states, it is illegal to instigate a bank run.
however, to call for everyone to withdraw their funds on the same day (or over a 3 to 5 day period), in protest, is completely legal.
something to ponder in the new year.
This is so much bullshit, WHEN are people going to stand up against these bastards. Is there any hope left? It seems it is only getting worse and time running out for all of us. What a crying shame!!!
A group of people (say), about 5,000 - 10,000 who feel their grip on control and way of life is slipping away. The Powers That Were. TPTW
They are very scared. Expect many many convulsions as it struggles.
You have a point. They wouldn't be taking these steps if they weren't worried.
They are very scared. Expect many many convulsions as it struggles.
Nah, their not scared this is their version of Chinese water torture.
YOU must be kept on the defense, and YOU, are guilty of breaking "A" law, 100% of the time.
These are simply tools, to let you know your ass is on the hook.
"According to the ministers a bank run can seriously endanger a bank."
It's become obvious that a bank can seriously endanger the life, liberty and health of a society.
If i had been at the Austin Airport i would probably be in jail right now because so many of you people think that laws MUST be followed .By you i mean most Americans,
http://www.kvue.com/news/local/Woman-arrested-at-ABIA-after-refusing-enhanced-pat-down-112354199.html
can you imagine hearing women inline saying well atleast we're safe even if this rape VICTIM is actually DRUG away by a cop.
jake,
Bingo, your ass would be in jail.
Bottom line, do not fly, or comply.
I will never fly again, unless its to expat,and then likely it will be by ship.
ah the first fallout from Wikileaks....nice..and people ask me why i dont trust Julian...
its easier for Netherlands to raise this concern....and US to follow..
If BofA has to go down, you might as well have somebody to blame.
And so the decree was nailed to the door, anyone convicted of saying the emperor has no cloths in public will be put in the stocks for a fortnight.
The bankers are wankers. What a bunch of criminal pussies. Criminalizing depositors for worrying about getting their own money out?
I always wondered why people treated Dellinger and Bonnie and Clyde as folk heroes back in the day.
don't forget pretty boy floyd; he got a song.
Wouldn't the 19,000 Euro fine itself cause a run on the banks in order to pay it? Another nasty positive feedback loop. Lawmakers need to understand why negative feedback is better for equilibrium! Other than that: (as Nelson might say: ha ha, fractional reserve banking is so fake.
How do we start a run on Federal Reserve Banks?
Even a blind could see tha fat money printer bitchez machine in there.
Gentleman, for each million needed, expect mandatory 3 minutes waiting time.
Ready to wait, bitchez???
KEYWORD, was INITIATE.
You can take all your funds out anytime you want.
You just cannot ORGANIZE the ACT.
Geesh, I would have thought that such a hair-brained idea would have begun in the US. I would have never expected to hear something like this emerge from the Netherlands. Did someone have some bad space cakes?
Amongst the hysteria there is a salient point to be made: if banks promise delivery upon demand, they should honor that promise. They should not need to criminalize the behavior of people who want to verify the banks' promises. When the promise structure is unreliable, the financial/money structure will follow.
To me it's somewhat facile to demonize fractional reserve outright. Unless we want to return to a more barbaric manner, we can benefit from financial nodes. Certainly, less fraction, more diffuse ownership, more robust structure...but all these things eat profit from the big dogs, so they won't see the light of day.
This reminds me somewhat of the labor movement to form unions. That has shown mixed results. Many hate unions for the graft and inefficiency. Others applaud the transfer of power to workers.
+1
The issue isn't fractional reserve banking per se, but duration mismatch (borrowing short to lend long). Get rid of the regulators, and let banks offer different accounts for different durations. Let people pay interest for demand deposit accounts, and banks offer higher and higher rates for 1 week, 1 month, 3 month, 6 month, 1 year, etc. CD's.
Right now, regulators say a bank must have X% reserves, but everyone ignores that the economy is dynamic and no one bothers to ask depositors what reserves should be kept on hand. And in any case, borrowing from depositors in a 1 month CD to lend a 30-year mortgage is insane as well as being so opaque that no one can tell whether a bank is solvent or insolvent.
this is a particularly opaque epoque.
Glad its still not illegal to enter the bank... but probably will be soon.
+
I'd say the ultimate goal of the Gubb is to ban cash. But then again, they must push drugs somehow, so we're good for a while.
Unless of course you are either:
a.) Another larger bank forcing the run on said bank through some combination of heavy naked shorts, rumor milling and/or other method that may or may not be considered to be gods work for the sake of your deep out of the money puts, CDS, or other modern day mircale of financial engineering.
b.) Residing in the upper UPPER percentile of society (and by default probably places you to some degree in option a.) in which case rules simply do not apply
Legislators are well aware of these scenarios. Instead this is aimed, as far as I'm concerned, at bloggers and fringe economic journalist.... truth tellers. Coincidental this happen prior to the so called bank release by Wikileaks?
or are treasury secretary henry paulson thinning the herd (bear, lehman) for goddam sux.
Many comments about how terrible this is and when will the masses stand up and take control. Exactly, in Europe, here in the US, when will people get pissed enough to take back the government from the banks. What will be the trigger? What will be that one event that is one event too many? I've wondered that a bunch. I could guess that it will be when the gub'ment types finally realize that there are 300 million guns, one trillion rounds and a whole bunch of people who are genuinely upset. If anyone tries to take the guns away, that could be a trigger. The sheeple don't give a rat's ass about any of the other amendments, couldn't care less. Any other possible triggers?
sunny
I don't think anger and pain ever caused anyone to discover reason. Right now, in their pain and confusion people are calling for more power to be given to government (to "regulate" (control) markets to make them more "free" or something)
The only thing that makes you free is Work.
Arbeit Macht Frei
WORK SETS YOU FREE. auschwitz lives.
This is an argument for deep infringement on liberty itself. This governments call for criminalizing monetary freedom and freedom of speech is an embarrassment to its people.
If this passes, the only hope left would be that all withdraw from these "banks" and use The Infinite Banking system in its place.
If they do this then I will have no dealings with banks ever again.
They give us no interest to keep savings in the banks, and they lend it out (to those who now have to show they really don't need it) at massive rates in interest... on OUR money... they are thieves, snakes, sharks, con merchants and now they want more?
Give them less!! Give them nothing..............
I bid 2000 for tha nice monkey
just make withdrawals a criminal offense.
sheeple can't handle cash anymore. too greedy. easily stolen, hiden, hoarded
gvt will fix everything,
and we will all be microchiped monkeys.
God bless America, Ben, and the black monkey.
When you don't have any money in the bank it's called "robbery".
When you don't have any money in the bank but create it by keying in some numbers into a computer it's call "Doing God's work".
There's nothing wrong with coutnerfeiting as long as EVERONE doesn't do it. It's all a play on big picture small picture or distortion of will. As long as you have 1 fox who willingly will get along with 1 hound you can present it as an entire big picture and say all foxes will get along with all hounds and call it The Fox and the Hound and make a movie about it and make big bucks.
So the banksters can lie cheat and steal from the ordinary people and get away with it with huge bonuses paid to them for doing so, and when the people protest against these criminal banksters they are threatened with prison
What about PRISON for the Banksters who robbed us and who are still robbing us? Where are the punishments for them, the prosecutions for them!!!
dutch here ...
Nout Wellink is chairman of BIS, probably the most important factor !!!
this legislation will not happen, it is more of the same, all for show, dutch politics don't have any ideas left, all waiting for the day the dollar crashes, and they don't even know that themself.
then freegold and the euro takes over, or does anybody here seriously thinks the PIIGS are a problem ? think again, look at the gold, we just don't want to take the blame for the fall, but BIS and all it's allies knows what it is doing.
How high was the tree that this guy fell out of onto his head?? Milestones
You can pick up the cash short on your deposit after the bankrun at the home address of Minister Opstelten. His wife informed me she is happy to be of assistance.
What is his home address again?
Probably passing this link on will be illegal too.
I feel hostile, so here it is. Probably all here have seen it, but just in case.
http://www.youtube.com/watch?v=U71-KsDArFM&feature=player_embedded#! The Secret of Oz - English - FREE.movJack Boot Nation
Next it will be a crime to close a TBTF account...
You dont need to close anything just make sure your credic card and margin are maxed out that will kill'em faster
In general IF the currency were well managed and strong this would not be an issue. (no duh!) BUT such behavior would NEVER ever be criminalized, the folks engaged in it would be patted on the head and this would never go viral.
It is only exactly when this is at critical mass and directly because of the currency endgame that this is an issue.
And this whole BORING "oh don't say THAT" from the PTB is too much. Hey, bankstas, don't you have a new one? A new schtick to bring out? One you thought up that is a new flavor? Something to zing me with, so I will feel cared for in a novel way as you have your way with my anal cavity?
Same old BORING rape.
As your perpetual victim I tell you I AM NOT satisfied with your performance!
You suck and the Grab, Throw Down, and Fuck.
You failed. You have no art in your repertoire. Picasso you are not. Vincent carved his ear struggling for his disillusionment and service to us all.
You are low-life punks, you bankstas.
Someone more inventive and cruel is going to take your job.
The people of Earth deserve a better class of criminal.
And they are going to get it.
Hey Tyler
My shitty Cramer the Clown and Chase google ads are back... What ever happened to the travel agent porn cruises and meet milfs today ads?
Which really means...
Legislation Proposed To Criminalize Calls For A "Run To Take your own money out of the Bank"why should it be illegal to suggest people take their OWN money out of a bank!!!!!!
How about a law that banks must be able to withstand a run? Or how about creating fear among the banksters to run in such a way that a "run" would be remote or non existant? hmmm
Truth is treason in the empire of lies. George Orwell was wayyyy ahead of his time......
In the face of the lies, let's bank run!
On the bright side... This is a clear indication of just how desperate the power elites have become. Obviously the end is near and they know it.
Well it's about freaking time!!
Let's end it with a bank run.
I have no money in the tbtf banks,none zip zero. I've made my run! I worry about getting to the safety deposit box at the CU, ARGHH matey thats were the golds at!
PM's in a CU SDB?.
Same as a Bank dudeski.
Not smart.
Sounds like a DAMN GOOD IDEA! The fucking hedgefunds run up the CDSs, then circulate rumors of bank "irregularities", this is an attempt to stop these bastards, they get the principals who circulated the memo, and hold them personally for criminal "fire" in a theatre. Stomp these bastards, a Danish bank doesn't have a good mechanism dealing with the perpeTRAITORS. My .02.
a run caused a bankruptcy? What, the bank couldn't get a loan from the CB or somethin?
Bank run!
See Bank run.
Run Bank, run.
Running Bank
Apacolypse Bank Run
Edward Running Banks
Top Bank Run
Silence of the Running Banks
Room With a Bank Run
Jurassic Bank Run
There Will Be a Bank Run
broke bank mountain
Bank on it!
Fight Bank
Bank Da Hoes
Telling people to sell stocks should be illegal too.
Don't give them any more great ideas.
might have something to do with the netherlands being in the top five widest default spreads on CMA today.
we will all be better off just robbing each and every bank of the money, as calling for a bank run will be a greater punishment
"According to rational people, a bank can seriously endanger a nation"
i'm tbtf (too broke to fail). took all my money ($259)out of the bank. fuck them. surf was pretty good today.
If memory serves, there is already such a law on the books in the US. Seldom enforced, as, in that sort of environment, how the hell do you seat a jury that would convict?
P.S.: +1 for Doc Sandi!
My these banks as you call them do sound quite weak and crumbly, if something as simple as people demanding what is rightfully theirs can do them such grievous harm.
Is calling for the lyching of these ministers ...Ministers Opstelten of Security and De Jager of Finance going to be a criminal offense. After all it would not even taken hours we can get it done in minutes..
So when banks are led by criminals, instead of calling for a run on the banks we can call for lynching of these ministers
Legislation like this will make people stop using banks. You can't interfere in such things with the governments heavy hand. Once you go down this road, people will start asking what the next logical step will be. And the next logical step is to stop letting people take their money out if the government or the bank decides you might be participating in a bank run. And their decisions can only be based on the relative pain they are feeling, AKA their balance sheet on a given day. So on a bad day, a run is 50 people or 50000 people? It just means you can't have your money if it is in a bank.
next week they're initiating a bill banning anyone from announcing they are making "a run to the store." It may affect pork bellies.
No surprise coming from the Netherlands as the Dutch Royal family along with the English Saxe-Coburg-Gotha royal family and the Rothschild banking dynasty are the primary unholy trinity of the emerging planetary slave grid.
From an Infowars article on Queen Beatrix’ third born son, Prince Constantijn and his role as Programme Associate of Bilderberg:
"After the young prince checked out of the office of the Dutch European Commissioner he checked into a more comfortable office at RAND Europe’s Bruxelles division to further tinker on his ‘strategies’. Here he co-wrote several technical reports on a range of subjects: from web 2.0, to RFID technology and other matters concerning ‘global governance’. In 2008 Constantijn was promoted to head the Bruxelles RAND office, expanding his influence even more.
Of all of the prime research areas the prince could envelop himself in, throughout his short career he specifically chose the subjects we identify with the worldwide surveillance grid and the new world order: RFID tracking technology, a regulated Internet and the promotion of more ‘cooperation’ worldwide through inflated transnational institutions."
http://www.infowars.com/nepotism-rules-at-bilderberg/
Sooner or later physical cash(paper, coins, gold ,silver, chickens) will be benned too, if we let them get their way
I buy physical gold and silver with cash. Been doing so for over a decade. I always get a receipt to document sales if necessary. The risk of this off-the-radar model is the elimination of non-electronic currency. I have pondered exiting a non-employer-based retirement account, but haven't pulled the trigger (normalcy bias?).
While they're at it - may as well threaten bearish analysts with execution. No one would dare threaten the bankers with logic. The executions could be televised - on CNBC - which could help ratings. Advertising revenue could be taxed at 95% - the the proceeds could be used to subsidize future bond auction failures. Win win win.
Hell, I'm just glad to be able to get to the bottom of the comments without some troll blaming the whole thing (never mind what the thing may be) on the Juice.
Where would the Juice be without a squeeze? The squeeze is on!
Only the Ash-can-Nazi berries, but they're full of anti-occidents!
HWL! (That would be howling with laughter....)
And shorting banks will also be banned. And not a bad word was said about the banks, for they had become our god...
Hey, my name is mentioned in this article!? I know nothing....
Well now, after reviewing the 1913 Federal Reserve Charter. One can see the panic the TPTB has in making up rules when times get tough for them.
Audit the FED! --- 1913 Federal Reserve Charter
http://www.llsdc.org/attachments/files/105/FRA-LH-PL63-43.pdf
Without the trust of serfs depositing money into their accounts, the banking system will collaspe on itself. Threating the serfs only confirms that the banks are insolvent and the mere lack of trust will bring down their own Bullshit Ponzi scam.
you must give them some credit, as it is quite an impressive ponzi scam
Isn't it wierd how they shoot kennedy and then we all of a sudden go into a long term generational uranus aspect that fills this planet with rebellious sickle weilding nut choppers.
Can we just call this article..... What if basement dad had cop protection? Would it have been worse better or the same?
http://www.google.com/imgres?imgurl=http://seemslegit.com/_images/9ac8f1...
Fuck a bank run. I want to see a COMEX and LBMA run. And I want to see banksters running away from mobs of people with pitchforks, rope, torches, and more.
If they criminalize calls for "run on the bank", it's only fair they criminalize banker calls for more "Stress tests" to hide the banks are failing.