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

Tyler Durden's picture

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jaap's picture

not proud to be Dutch

Malcolm Tucker's picture

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!

unununium's picture

Hey, how about we criminalize a bank not being able to withstand a call for a bank run, instead?

For fuck sake.

jeff montanye's picture

good idea.  laws are cool.  now if we could just get some enforcement....

Hephasteus's picture

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.

e_goldstein's picture

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.

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!!!

samsara's picture

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.

midtowng's picture

You have a point. They wouldn't be taking these steps if they weren't worried.

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.

 

Lord Koos's picture

"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.  

jakethesnake76's picture

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. 

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.

doomandbloom's picture

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..

 

Thomas's picture

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

samsara's picture

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.

 

 

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.

 

 

 

jeff montanye's picture

don't forget pretty boy floyd; he got a song.

John_Coltrane's picture

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.

DisparityFlux's picture

How do we start a run on Federal Reserve Banks?

Golden monkey's picture

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???

 

 

 

DosZap's picture

KEYWORD, was INITIATE.

You can take all your funds out anytime you want.

You just cannot ORGANIZE the ACT.

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?

 

Dicite justitiam's picture

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.

Bearster's picture

+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.

jeff montanye's picture

this is a particularly opaque epoque. 

put_peter's picture

Glad its still not illegal to enter the bank... but probably will be soon.

Malachi Constant's picture

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.

Critical Path's picture
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?

jeff montanye's picture

or are treasury secretary henry paulson thinning the herd (bear, lehman) for goddam sux.

sunny's picture

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

Bearster's picture

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)

spdrdr's picture

The only thing that makes you free is Work.

 

Arbeit Macht Frei

arnoldsimage's picture

WORK SETS YOU FREE. auschwitz lives.

LudwigVon's picture

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.

 

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

Golden monkey's picture

I bid 2000 for tha nice monkey

Careless Whisper's picture

just make withdrawals a criminal offense.

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.

 

 

 

 

RockyRacoon's picture

When you don't have any money in the bank it's called "robbery".

NumberNone's picture

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". 

Hephasteus's picture

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.

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!!!

FreeMartinArmstrong's picture

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.

Milestones's picture

How high was the tree that this guy fell out of onto his head??   Milestones

Troy Ounce's picture

 

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?

dizzyfingers's picture

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

 

Problem Is's picture

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