0 votes

‘Bank Run 2010′ aims to end ‘criminal, corrupt’ financial system

He says starting a revolution is easy...guess he hasn't read DP...

----------------------

In what may be the most subversive reaction yet to global outrage over the financial crisis, a European soccer star has inspired an international "bank run" protest aiming to collapse the global financial system.

The organizers of "Bank Run 2010" have chosen December 7 as the day when protesters are meant to withdraw their money from the banks, which they hope will cause a run on the banks that could collapse financial institutions.

http://www.rawstory.com/rs/2010/11/bank-run-corrupt-financia...




Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Fools indeed but pay attention to Ireland

Sigh. Even if they were successful in so engineering a collapse, I wonder if they are prepared for such a collapse!

As noted in another comment to this post, it is not as easy as they think. . .the should have been paying attention to the DP.

Ireland, though. The Irish could bring the whole system down before the weekend is out. On the brink we are. It may or may not happen now. But on the brink we are indeed.

He needs to read the fine print

Bank runs don't work because banks are not obligated to pay out all your cash at once. It took me weeks of withdrawals to empty my bank account, even though I told them up front what my intentions were.

Even if people were able to get their money out, I'm sure the commercial banks could just get loans from the central banks to cover their required minimums.

That said, I still think getting your savings out of the bank and into precious metals or other hard assets is a good idea at this point. If you haven't realized that yet, you haven't been paying attention.