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10 Reasons Why The Cantona Campaign Will Fail.

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We would all love to give a good kicking to the banks, but this protest is ill considered because:

1. Banks carry little cash. The only people able to take out cash will be dealing with relatively small amounts and this will be insignificant to the banking system.

2. Muggers now know of the scheme and will be waiting around street corners. They must think Christmas has come early.

3. If robbers dont take it off you on the streets, they will come for it at your private address. Either way you risk personal injury.

4. Banks will close up when they have run out of their daily allocation of money. You have then wasted your day queueing.

5. You can use a cheque or BACs transfer to move funds to say a Building Society. But, if you do succeed in destabilising the bank during the 3 day clearing period, then your cheque/transfer will bounce. Without the funds residing in an account you may have trouble getting compensation.

6. Very few people will want to keep cash forever. Eventually it will be put back in the hands of the establishment so what has been achieved?

7. The only people being inconvenience will be those who genuinely need to us the bank on that day.

8. If panic and mass hysteria is the motive then most people will remain unconcerned, knowing they have £50,000 worth of insurance cover from the FSA. During the last crisis, deposits in all on-shore banks were covered in full.

9. The only people to pick up the tab if there were problems would be the tax payers. Why shoot yourself in the foot?

10. Eric Cantona is a bloody footballer. Their credibility ranks somewhere below Estate Agents.

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We would all love to give a good kicking to the banks, but this protest is ill considered because:

1. Banks carry little cash. The only people able to take out cash will be dealing with relatively small amounts and this will be insignificant to the banking system.

2. Muggers now know of the scheme and will be waiting around street corners. They must think Christmas has come early.

3. If robbers dont take it off you on the streets, they will come for it at your private address. Either way you risk personal injury.

4. Banks will close up when they have run out of their daily allocation of money. You have then wasted your day queueing.

5. You can use a cheque or BACs transfer to move funds to say a Building Society. But, if you do succeed in destabilising the bank during the 3 day clearing period, then your cheque/transfer will bounce. Without the funds residing in an account you may have trouble getting compensation.

6. Very few people will want to keep cash forever. Eventually it will be put back in the hands of the establishment so what has been achieved?

7. The only people being inconvenience will be those who genuinely need to us the bank on that day.

8. If panic and mass hysteria is the motive then most people will remain unconcerned, knowing they have £50,000 worth of insurance cover from the FSA. During the last crisis, deposits in all on-shore banks were covered in full.

9. The only people to pick up the tab if there were problems would be the tax payers. Why shoot yourself in the foot?

10. Eric Cantona is a bloody footballer. Their credibility ranks somewhere below Estate Agents.

If you have money in the bank, don't get mad, get even. Put the anger aside and focus on safeguarding your wealth instead by using your paper 'wealth' to invest in other assets. Of course spending your paper wealth on other assets means your paper 'wealth' will just become someone else's paper 'wealth' in a bank somewhere, but who cares? When the SHTF, you'll be home and dry.

If you take part in this, you really are just cutting off your nose to spite your face.

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The main reason is, people arent interested or bothered.

..but will still bitch and moan on forums all over 'tinternet to anyone who'll listen.

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1. Banks carry little cash.

Tell me about it! I withdrew £4000 once to buy a second hand car. The bank teller read me the riot act for not calling ahead of time to 'pre-book' my withdrawal.

I left the bank feeling lucky to have been allowed access to my own money! :huh:

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We would all love to give a good kicking to the banks, but this protest is ill considered because:

1. Banks carry little cash. The only people able to take out cash will be dealing with relatively small amounts and this will be insignificant to the banking system.

2. Muggers now know of the scheme and will be waiting around street corners. They must think Christmas has come early.

3. If robbers dont take it off you on the streets, they will come for it at your private address. Either way you risk personal injury.

4. Banks will close up when they have run out of their daily allocation of money. You have then wasted your day queueing.

5. You can use a cheque or BACs transfer to move funds to say a Building Society. But, if you do succeed in destabilising the bank during the 3 day clearing period, then your cheque/transfer will bounce. Without the funds residing in an account you may have trouble getting compensation.

6. Very few people will want to keep cash forever. Eventually it will be put back in the hands of the establishment so what has been achieved?

7. The only people being inconvenience will be those who genuinely need to us the bank on that day.

8. If panic and mass hysteria is the motive then most people will remain unconcerned, knowing they have £50,000 worth of insurance cover from the FSA. During the last crisis, deposits in all on-shore banks were covered in full.

9. The only people to pick up the tab if there were problems would be the tax payers. Why shoot yourself in the foot?

10. Eric Cantona is a bloody footballer. Their credibility ranks somewhere below Estate Agents.

Good points and I share your sentiment.

A mass withdrawal would only be effective if everyone also defaulted on all their debt and the cash remained out of the banks. I guess this would also include holders of other paper assets such as treasury bonds.

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As much as I'd like to see this succeed its pointless, however I would like to find a bank to use that isnt up to its neck in sleeze.

My thought is to open up with the Co-operative Bank any known objections to them?

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If I was actually going to do it (which I don't see the point really), I'd give a weeks notice, withdraw every penny, put it in one of the banks safe deposit boxes, buy insurance against theft.

It would just be using banks for what they were originally designed for.

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......

I left the bank feeling lucky to have been allowed access to my own money! :huh:

It isn't your money. You lent it to the bank. You only have an IOU. Bank goes bust = you lose the money you lent them. HPC = banks go bust. :D:D

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1. Banks carry little cash.

...the reason being it costs Banks' money ...cash is dead and non earning ...and it's better invested in even the overnight markets ....a prudent Banker carries minimal cash for that reason....from a security point of view it's expensive being freely negotiable if stolen.... :rolleyes:

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it wont work because as soon as you take out you £ the government will borrow a £ and lend it back to them on your behalf.

You will then have £ and a £ of government debt. This extra £ will then cause inflation and your standard of living will fall.

Heads you loose tails you loose.

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its a big build up, hes two yards from the line, he's beat the goalie, he shoots......he's hit the corner flag...unbeleivable......the press are gonna have a field day after the game..

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The main reason it will fail is because the people who have enough money to matter are at either at work and busy, or don't keep their money in banks - instead opting for shares/gold etc.

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The dangers of a bank run are very real, and this action would definitely cause (possibly multiple) bank holidays, runs, closures, and economin breakdown.

The reason this won't happen are fivefold:

1. Apathy

2. Fear

3. Panic

4. Herd mentality

5. Subservience to those in power.

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Well, he certainly seems to have got everyone's attention - but it should have been focused at one particular bank and his particular issue with that bank should have been spelt out as someone suggested. Identify the culprits and the crimes and make sure they are marked men. Maybe next time?

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As much as I'd like to see this succeed its pointless, however I would like to find a bank to use that isnt up to its neck in sleeze.

My thought is to open up with the Co-operative Bank any known objections to them?

Yes, they have a sub-prime & BTL mortgage division at www.platform.co.uk

I think www.triodos.co.uk is probably the best bet (my ISA is there) - it's Dutch, however.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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