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European Movement Calls For Mass Withdrawal Of Cash

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Some French activists have picked up on the idea and are using it as part of their campaign against the French Government’s austerity measures. They have a web site stopbanque.blogspot that calls for a mass withdrawal on 7th December.

There is an English British facebook page promoting the withdrawal as well as ones for Germany, Italy, Greece, Netherlands, Denmark and Portugal

SOS LINK

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I posted this the other day but the general consensus seemed to be that it wouldn't happen.

However I doubt it would take more than 5% of people to bring the whole thing tumbling down seeing as they have lent on OUR money so many times via the wonders of fractional reserve banking.

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A mass withdrawal would screw the bankers.

I would love to see how the govt would react to people actually wanting their own money.

Simples

Civil Contingencies Act means enforced bank holidays, dark cash machines and unreachable bank sites on Internet. Have we all forgotten they steps they planned when RBS started to fall over a couple of years ago? They were hours away from doing the above then.

Be in no doubt they would enact such measures if they thought a momentum was building up. Its not so much the amount of paper cash in the system and whether it is lodged in bank A,B or C or under a mattress. It is about maintaining confidence in the whole kaboodle for us and our creditors (read trading partners) abroad

Once the genie is out of the bottle it is lost. It cannot ever be put back in. Gold really would be king then.

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Ever heard of daily withdrawal limits?

If you want your money out of the system, start today. Nobody is stopping you. I started a couple of months ago, I feel a lot better having a significant chunk of it somewhere I can access it no matter what happens to my bank.

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Well, I'm going to do something on this day. Not sure what but at the least withdraw alot more than I usually do and transfer some money to my share dealing company or IG index, easy to put it back again a few weeks later if need be.

If they see a large spike in withdrawals it may just remind them what can happen and who's money it is.

Every little helps.

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Ever heard of daily withdrawal limits?

If you want your money out of the system, start today. Nobody is stopping you. I started a couple of months ago, I feel a lot better having a significant chunk of it somewhere I can access it no matter what happens to my bank.

Seen it. Pinched it. Spent it. :D

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It’s a nice concept but won’t happen. As has already been mentioned the govt would control the withdrawal regardless, or just change trash and then change the currency.

A lot of good having 100k of useless paper.

Plus it’s a huge gamble, you have a stash of savings you have worked for (or maybe not in case of HPI), are you going to take the risk of collapsing all this?

The only way to beat ‘them’ is to stop using the damn stuff fullstop.

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Well, I'm going to do something on this day. Not sure what but at the least withdraw alot more than I usually do and transfer some money to my share dealing company or IG index, easy to put it back again a few weeks later if need be.

If they see a large spike in withdrawals it may just remind them what can happen and who's money it is.

Every little helps.

Not sure what difference that would make im pretty sure IG index bank with LLoyds and i cant imagine your share dealing Company keep the money under their mattress

Edited by Tamara De Lempicka

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Great day to be a mugger...

That's what I was thinking!

>mass withdrawal on 7th December

Smart ones will get their money out on the 6th.

So very true! :lol:

TBH, I'm sure the BoE would just give the banks all the liquidity they needed - they may even be printing more tenners now, just in case.

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Not sure what difference that would make im pretty sure IG index bank with LLoyds and i cant imagine your share dealing Company keep the money under their mattress

What difference can I make? I don't want to see any banks collapse but if they see people do anything/atleast trying it shows the mood of the people even if the initial actions we take are ineffective.

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That's what I was thinking!

So very true! :lol:

TBH, I'm sure the BoE would just give the banks all the liquidity they needed - they may even be printing more tenners now, just in case.

Exactly would be equivalent to withdrawing iou's, wonder if there are any of those gold bar vending machines near me (no I'm not a gold bug, but still....) :D

Edited by madpenguin

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That's OK, the bankers will just render the Euro worthless and introduce a new currency to bypass the silly peasants with their delusions of freedom, just like they did with gold in the great depression.

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I posted this the other day but the general consensus seemed to be that it wouldn't happen.

However I doubt it would take more than 5% of people to bring the whole thing tumbling down seeing as they have lent on OUR money so many times via the wonders of fractional reserve banking.

there would be a bank holiday if 0.05% tried it.

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there would be a bank holiday if 0.05% tried it.

Probably, I plucked my 5% out of thin air this morning :D

I just have this nagging feeling at some point the USA will go down / there will be a global crash (36 hours max) and a long bank holiday in the UK will be declared whilst they work out what to do and I will kick myself for not having a plan.

With this in mind does anyone have any more info specifically to do with the financial aspect so this Civil Contingencies Act that might give us lot some chance of staying ahead?

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>mass withdrawal on 7th December

Smart ones will get their money out on the 6th.

I think that smart ones are starting to do it quietly already. Paranoid ones at least. I doubt it will happen though and all that will result if it does is that they empty the ATM's when taking out their daily limits.

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I think that smart ones are starting to do it quietly already. Paranoid ones at least. I doubt it will happen though and all that will result if it does is that they empty the ATM's when taking out their daily limits.

happens every christmas...I mean, the shops ( most) are actually closed for ONE whole day.

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I think that smart ones are starting to do it quietly already. Paranoid ones at least. I doubt it will happen though and all that will result if it does is that they empty the ATM's when taking out their daily limits.

You do know you can go into the bank and get as much cash as you want over the counter - presuming they have it?

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If they achieved what they wanted, many banks going bankrupt due to lack of liquidity, then it will just end up with pension funds losing money (in their shares), the taxpayer having to pay to restore confidence. If confidence is destroyed, then the Euro will become worthless and the whole of Europe will become a 3rd world country. People will get murdered, raped and go hungry and thirsty. The life expectancy will fall below 50 again.

In short it is a stupid idiotic idea.

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If they achieved what they wanted, many banks going bankrupt due to lack of liquidity, then it will just end up with pension funds losing money (in their shares), the taxpayer having to pay to restore confidence. If confidence is destroyed, then the Euro will become worthless and the whole of Europe will become a 3rd world country. People will get murdered, raped and go hungry and thirsty. The life expectancy will fall below 50 again.

I agree with you that it's a stupid idea and could cause untold damage but it is just bringing forward the inevitable anyways?

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If they achieved what they wanted, many banks going bankrupt due to lack of liquidity, then it will just end up with pension funds losing money (in their shares), the taxpayer having to pay to restore confidence. If confidence is destroyed, then the Euro will become worthless and the whole of Europe will become a 3rd world country. People will get murdered, raped and go hungry and thirsty. The life expectancy will fall below 50 again.

In short it is a stupid idiotic idea.

it wont happen that way...they shut the doors.

the regulators move in, and a fortnight later anotehr bank has bought the assets, the deposit protection swings into action and the Central banks help out.

Course, the end result of QE is exactly as you describe.

letting a few banks go enables a full recovery.

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