National Run-on-the-Bank Day
I was watching the Corrupt Banking System videos again on YouTube (http://www.youtube.com/watch?v=cy-fD78zyvI) when I came up with the idea for a national run-on-the-bank day. This would be a day where countless bank customers would withdraw some, if not all, of their funds from their respective bank(s). This holiday would serve 3 main purposes: (1) it would bring awareness to the use of fractional reserve banking with fiat currency, and (2) it would keep the banks on alert on account of they would need to have enough in reserves to satisfy their customer's withdrawal claims, and (3) it would force us to consider ways in which to store (and safeguard) our financial reserves without using a bank.
Ron Paul got about 1.2 million votes this past year. The $6 million Boston Tea Party Money Bomb saw over 50,000 people logging on and donating to the cause. There are limitations on campaign contributions, but there are no limits on how much money we can withdraw from our accounts. If nothing else we would have gone through a practice session of taking out our hard-earned money in the event of an emergency. We could always put it back later on.
There are several possible dates to chose for this day and I am open to suggestions. One possible date would be February 3, as that was the day that the Sixteenth Amendment (http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_Unit...) was ratified back in 1913. We might also consider switching up the day from year to year, and not giving out the date until the last minute so that the banks can't gear up for it.
I have already reserved the domain name: http://runonthebankday.com for us to use in this effort. Let me know your thoughts, comments, suggestions, etc. Is this a lame-brain idea or does it have some potential?
Hmmmm
This would not be good. If this actually played out, then RP supporters would be to blame hurting the message.
I like the idea...for the message it would send.....but in the end it would hurt us.
My 2 cents.
I hear you
But, with the same token, we can't get our message out if we are constantly walking around on egg shells. We are not trying to cause a panic, just simply trying to point out the inherent flaws of a corrupt system.
If we used your logic then we would never speak out against the Federal Reserve system or the IRS or the war in Iraq. Getting rid of any of these would entail pain of one sort or another, yet they are defining points in the Ron Paul cause. Should we abandon the efforts against the above things because the damage caused would hurt the perception of the Ron Paul message in the eyes of the general public?
" In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot." - Mark Twain
"Liberty, when it begins to take root, is a plant of rapid growth." - George Washington
I love the enthusiasm
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but everytime I have over $100.00 in my bank, I run on it. I will not leave a large sum of money in the bank anymore for obvious reasons. I respect your motivation. Keep up the great work.
Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine
The R3volution requires action, not observation!!!!
Been
Been done.
RestoreTheRepublic.com tried to do a bank holiday.
It didnt work.
reverse leverage
If enough people with enough funds targeted a small bank, there would be some pain.
What if ...
1) Many people put sizeable amounts into a small bank (regional or smaller).
2) Leave it there for a few weeks so the bank can make loans against the deposited funds.
3) On the same day, withdraw cash or transfer out all the money.
Banks make money by taking your $1 in savings and loaning out $10 at a higher interest rate. When you take out your $1, the bank has exposure to the $10 and this must be unwound. This has been known as "deleveraging".
This can be fatal to a small or undercapitalized bank.
http://FlipFlopRomney.blogspot.com
hey thats a good idea!!!!
hey thats a good idea!!!! and the only people that will be left holding the bag is the people not in the group....
SO YOU BETTER JOIN THE GROUP OR ELSE YOU will not know when everyone will pull the lever
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That's an interesting thought!
I think the primary mantra of this cause would be to let the bankers and politicians know that, hey, we are going to run on year each and every year...so keep your house in order!
This might be the best check against inflation aside from having the dollar backed by hard assets.
" In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot." - Mark Twain
"Liberty, when it begins to take root, is a plant of rapid growth." - George Washington
Except the Fed would print
Except the Fed would print more money to bail out the bank. Check out MeetTheFed.com. We interviewed a PR guy from the fed. He actually talked about this.