Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From ATMs On Friday Morning

Tyler Durden's picture

As tensions escalate in Spain, Catalan Separatists are potentially about to do some real damage and hit Madrid where it really hurts.

In a tweeted message to their 270,000 followers, Assemblea Nacional urged supporters to pull cash from CaixaBank and Banco Sabadell branches between 8 am and 9am Friday to protest at their decision to shift their legal domiciles out of the region...

As the video begins...

"Go to 1 of the 5 main banks and take out as much cash as you want. Don't forget, it's your money".

Catalan News adds:

Civil society organizations in Catalonia call for a mass withdrawal of money from bank ATMs on Friday at 8am in order to pressure the Spanish government. Organizers don't especify how much money should be taken out nor what to do with it.

 

The action targets the five main banks in Catalonia: Caixa Bank, Sabadell, Bankia, BBVA and Santander. Organizers call on clients of Caixa Bank and Sabadell to show their disagreement with the banks' recent decision to move their headquarters out of Catalonia due to the escalating political crisis between governments in Barcelona and Madrid.

 

This is the first "direct and peaceful" action organized by Crida per la Democràcia (Call for Democracy). This is an umbrella group which includes among others the two main pro-independence organizations in Catalonia: the Catalan National Assembly (ANC) and Òmnium Cultural.

 

The mass withdrawal is also aimed at condemning the imprisonment of ANC and Òmnium presidents, Jordi Sánchez and Jordi Cuixart, held in custody on sedition charges since Monday.

As a reminder, both Banco Sabadell and Caixabank - the two largest banks of the Catalan region - moved their corporate headquarters out of Catalonia (with the help of the Spanish government) shortly after the referendum.

And now it's time to find out just how solvent (and liquid) the strong Spanish banking system truly is.

The message has now been retweeted or liked over 7,000 times (and remember its past midnight in Spain).

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Dr. Dooms-a-lot's picture

We should do that here!

AgAuSkeptic's picture

Won't work, they won't give you more than $5K, Fed is smart you sucker!

toady's picture

Too late... had to do it before the article 155...

gmrpeabody's picture

All your cash are belong to us...

MagicHandPuppet's picture

Already grabbed my cash in 2008. It was a Yuuuge hassle.

Bud Dry's picture

Jokes on them...  I never get that high before I turn it into phyz.

ThirdWorldNut's picture

How long before Juncker orders drone strike on whoever posted that tweet, you know to protect the democracy. Didn't he previously made clear that he doesnt want Catalonia to part ways? Serfs must pay for disobeying their lords. Hail EU!

Cognitive Dissonance's picture

"1. Go to 1 of the 5 main banks and take out as much cash as you want. Don't forget, it's your money".

 

Ummm......no, it's the bank's money. You lent it to the bank when you 'deposited' it.. This means you are a creditor.

WTFUD's picture

Rob the Bank, but be courteous about it.

Tippoo Sultan's picture

An historical note: the Borgia family were Catalan.

God Emperor's picture

Nice try lefturds.

Most Spanish ATMs have a 600/day limit if you didn't specifically asked your bank to increase it.

And I believe the max you can increase to is 3000/day anyway.

World Cash Day's picture

GO INTO THE BRANCH GENIUS.

CLOSE THE ACCOUNT.

What is the 3rd Biggest Catalan Bank if Sabadell & Caixa are hellbent on abandoning the region?

Slack Jack's picture

Don't be fooled into violence and war.

This article outlines roughly how people were fooled into the second world war:

Proof that Adolf Hitler was a double agent.

http://www.preearth.net/phpBB3/viewtopic.php?f=22&t=1174

It seems pretty weird when you first read it, but its clearly true.

Haus-Targaryen's picture

Seems like this didn't work out. 

"Independencia!"

"¡Ok, entonces, retira todo tu dinero del banco y mata el sistema bancario de los opresores!"

"Oh, no importa, entonces."

hibou-Owl's picture

Close the account and ask for a bank cheque, they have to cover it from bank capital.

Dame Ednas Possum's picture

Funny that. 

My shoe boxes never fail to give me the exact amount of cash I deposited, no questions asked. 

And they don't hit me with either fees or negative interest rates. 

Never a queue either... the Mrs. doesn't know where they're hidden!! 

 

GeezerGeek's picture

Now if only those shoe boxes could preserve your purchasing power from one year to the next.

Arnold's picture

my thought too.
Shrinkage, it's not just a shoe box problem.

Soundgardener's picture

Isn't he wonderful, audience? Lamingtons for EVERYONE, Darling!

HenryHall's picture

The Catalonian separatist government is right-wing. Not left-wing. Dimwit.

wildbad's picture

true story.i'm in germany but same thing here. all over €urope the limit is $1K tops.

In Spain and france it is ILLEGAL to do a cash transaction over €1K

for your own protection naturally

coming to a slave farm near you

Conscious Reviver's picture

As this is destruction of liberty continues to get traction, freedom will catch a bid. In other words, places where freedom still reigns will draw freedom seeking capital, entrepreneurs etc. There are places. It's not something they want to over emphasis, because Why draw attention from the Death Star?

Amsterdam got started as a kind of freedom place a long time ago. Prpbably slipping lately like most if not all of the AngloZino world.

Good job Catalan, but close the accounts as mentioned already.

new game's picture

i drive around making deliveries and all i see is mostly sheep, dumb fuks and idiots.

now, i ask you one simple qurestion: do these fukheads represent freedom?

i'm thinking NOT! numbers aren't there. too far gone- snowflaked.

least common denominator stuff.

they are doing as they do with no critical think.

just observing...

SSM

 

Ghordius's picture

"An historical note: the Borgia family were Catalan"

were? you mean are. descendents still in Catalonia
(and Italy, France, UK, Germany, Poland)

HenryKissingerZuckerberg's picture

"An historical note: the Borgia family were Catalan"
were? you mean are. descendents still in Catalonia
(and Italy, France, UK, Germany, Poland)

yes, they are all interbreed cousins, we know

https://en.wikipedia.org/wiki/House_of_Wettin

wildbad's picture

note 2.

Catlan is still spoken in Catalunya, The Ibearic Islans and Sardinia.

The kingdom of Sardinia once stretched high into what is now Switzerland and Catalan was spoken in all of that area.

Wizard of Finance's picture

not true.

 

they were from Valencia. thank's god, not Catalonia yet.

overbet's picture

I live in a large city. Many times, when traveling overseas, I would head to a big branch wells fargo, and try to withdraw $20k in 100s. They have told me come back in 3-4 days 90% of the time. I end up having to go to 3-4 branches to get filled. Good luck trying to get your money if there is even the slightest hint of a run.

in4mayshun's picture

Totally not the point. Banks operate on a premise of security and safe keeping. If that paradigm is disrupted, banks are toast because even if they don't give you your money, they will not be getting any further deposits and their business is essentially over. Pulling as much cash out as possible every day will eventually crush any financial institution.

Dame Ednas Possum's picture

Then pull, and keep pulling people. 

 

FIAT CON's picture

Very true. When people pull out their daily limit, daily, it would be like a fast acting Cancer to the banks. 

BigJim's picture

Not any more. The gloves are off now, since 2007 they're not even pretending we have capitalism in the finance sector, or that banks have to have reserves. The CB can and will just step in and fund them if the bank is TBTF.

lucitanian's picture

But, like they did in Greece, they will probably reduce the daily limit presently at €400. or €600. to some paltry sum. But nevertheless it is a reasonable protest which makes the banks and the government show their tyranny against the people.

fiddy pence haff pound's picture

Daily limit? 400, in Greece?

Try weekly. 420/week max,

with some small exceptions.

lucitanian's picture

Also, there's no daily limit on transfers, and most people are using computer banking. So draw the cash one needs from the ATM, and transfer the rest to buy Bitcoin, = end of deposits, sure problem for the bank.

If they'd done it yesterday, they'd have benefited from the difficulty they created...... Still might be so today.

Interesting times! There's always a tool to be used to beat the system. Screw the banks.

AR15AU's picture

Exactly.. if Catalonia can set up a paralell banking system to the Euro then the Euro is FUCKED. 

wildbad's picture

yes..but oddly, the separatists do not want to separate from Brussels..just Madrid.

I don't get it.

smacker's picture

Catalonia is like Scotland which also wanted to stay wedded to the EU but voted on whether to leave the UK.

They both want their own direct relationship with the EU, not thru an intermediary.

Killdo's picture

last year I took 15k in cash (did not want to pay 25$ or so electronic transfer)- I walked with all the money in my cargopants pocket few block to anotehr bank where i opened a new account. Did not have any problems taking out that money - it coudl have been more I don't exactly rememebr - at least 15k. max 20k

Donald J. Trump's picture

I've recently had trouble cashing a $1400 check.  Yes that's 14 hundred.  Bank barely had enough.  I cleaned them out.

FIAT CON's picture

A few years ago I walked in to the bank with a $234,000 cheque and asked for cash.... You should have seen the look on the tellers face.

radio man's picture

The bond holders of GM and Chrysler should have served as a warning.

Cognitive Dissonance's picture

No one talks about that anymore. But the Rubicon crossing was when they changed the capital structure rules. More rules and laws will soon be broken when the next crash is upon us.

Arnold's picture

Rules are for the little people.

radio man's picture

Reminds me of a fast-food commercial, "No rules, just right". WTF?