Guest Post: Legislation Proposed To Criminalize Calls For A "Run On The Bank"

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Fri, 12/24/2010 - 15:43 | 828334 jaap
jaap's picture

not proud to be Dutch

Fri, 12/24/2010 - 18:22 | 828668 Malcolm Tucker
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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!

Fri, 12/24/2010 - 20:21 | 828860 A Nanny Moose
A Nanny Moose's picture

Been there. Done that.

http://video.google.com/videoplay?docid=-715862862672743260#

Oh, the irony!!!

Fri, 12/24/2010 - 22:48 | 829047 unununium
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Hey, how about we criminalize a bank not being able to withstand a call for a bank run, instead?

For fuck sake.

Sat, 12/25/2010 - 00:40 | 829224 jeff montanye
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good idea.  laws are cool.  now if we could just get some enforcement....

Sat, 12/25/2010 - 22:26 | 830112 Hephasteus
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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.

Sat, 12/25/2010 - 02:19 | 829328 e_goldstein
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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.

Fri, 12/24/2010 - 15:44 | 828337 UnRealized Reality
UnRealized Reality's picture

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!!!

Fri, 12/24/2010 - 16:08 | 828389 samsara
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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.

Fri, 12/24/2010 - 23:26 | 829108 midtowng
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You have a point. They wouldn't be taking these steps if they weren't worried.

Sun, 12/26/2010 - 14:56 | 830597 DosZap
DosZap's picture

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.

 

Sat, 12/25/2010 - 02:18 | 829327 Lord Koos
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"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.  

Sat, 12/25/2010 - 11:39 | 829664 jakethesnake76
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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. 

Sun, 12/26/2010 - 15:06 | 830615 DosZap
DosZap's picture

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.

Fri, 12/24/2010 - 15:47 | 828345 doomandbloom
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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..

 

Sat, 12/25/2010 - 10:17 | 829597 Thomas
Thomas's picture

If BofA has to go down, you might as well have somebody to blame.

Fri, 12/24/2010 - 15:48 | 828351 samsara
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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.

 

 

Fri, 12/24/2010 - 16:04 | 828378 gwar5
gwar5's picture

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.

 

 

 

Sat, 12/25/2010 - 00:52 | 829238 jeff montanye
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don't forget pretty boy floyd; he got a song.

Fri, 12/24/2010 - 16:05 | 828380 John_Coltrane
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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.

Fri, 12/24/2010 - 16:04 | 828382 DisparityFlux
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How do we start a run on Federal Reserve Banks?

Fri, 12/24/2010 - 18:21 | 828665 Golden monkey
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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???

 

 

 

Sun, 12/26/2010 - 15:08 | 830621 DosZap
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KEYWORD, was INITIATE.

You can take all your funds out anytime you want.

You just cannot ORGANIZE the ACT.

Fri, 12/24/2010 - 16:17 | 828406 Motorhead
Motorhead's picture

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?

 

Fri, 12/24/2010 - 16:33 | 828443 Dicite justitiam
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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.

Fri, 12/24/2010 - 17:25 | 828530 Bearster
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+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.

Sat, 12/25/2010 - 00:56 | 829245 jeff montanye
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this is a particularly opaque epoque. 

Fri, 12/24/2010 - 16:42 | 828459 put_peter
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Glad its still not illegal to enter the bank... but probably will be soon.

Fri, 12/24/2010 - 16:48 | 828466 Megalithic
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+

Fri, 12/24/2010 - 20:37 | 828888 Malachi Constant
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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.

Fri, 12/24/2010 - 16:49 | 828472 Critical Path
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Criminalize Calls For A "Run On The Bank"

 

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?

Sat, 12/25/2010 - 01:00 | 829248 jeff montanye
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or are treasury secretary henry paulson thinning the herd (bear, lehman) for goddam sux.

Fri, 12/24/2010 - 16:58 | 828486 sunny
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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

Fri, 12/24/2010 - 17:37 | 828559 Bearster
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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)

Fri, 12/24/2010 - 22:14 | 828997 spdrdr
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The only thing that makes you free is Work.

 

Arbeit Macht Frei

Sat, 12/25/2010 - 14:20 | 829833 arnoldsimage
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WORK SETS YOU FREE. auschwitz lives.

Fri, 12/24/2010 - 16:59 | 828487 LudwigVon
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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.

 

Fri, 12/24/2010 - 17:14 | 828514 Racer
Racer's picture

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..............

Fri, 12/24/2010 - 18:25 | 828673 Golden monkey
Golden monkey's picture

I bid 2000 for tha nice monkey

Fri, 12/24/2010 - 17:09 | 828503 Careless Whisper
Careless Whisper's picture

just make withdrawals a criminal offense.

Fri, 12/24/2010 - 18:15 | 828650 Golden monkey
Golden monkey's picture

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.

 

 

 

 

Sat, 12/25/2010 - 15:13 | 829867 RockyRacoon
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When you don't have any money in the bank it's called "robbery".

Sat, 12/25/2010 - 15:45 | 829891 NumberNone
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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". 

Sat, 12/25/2010 - 22:31 | 830117 Hephasteus
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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.

Fri, 12/24/2010 - 17:12 | 828507 Racer
Racer's picture

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!!!

Fri, 12/24/2010 - 17:30 | 828539 FreeMartinArmstrong
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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.

Fri, 12/24/2010 - 17:38 | 828563 Milestones
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How high was the tree that this guy fell out of onto his head??   Milestones

Fri, 12/24/2010 - 17:39 | 828564 Troy Ounce
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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?

Fri, 12/24/2010 - 18:13 | 828644 dizzyfingers
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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.mov

 

Fri, 12/24/2010 - 18:18 | 828649 Problem Is
Problem Is's picture

Jack Boot Nation
Next it will be a crime to close a TBTF account...

Do NOT follow this link or you will be banned from the site!