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pipllman

Could People Power Do It

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With all the talk of people power in relation to the SNP, Jeremy Corbyn etc.

Could people power trigger the house price correction that the market so clearly needs?

By initiating a bank run?!

It could be any bank, but my pick would be Nationwide. If a properly orchestrated campaign caused sufficient savers to withdraw their money from Nationwide and move to another bank, could it / would it cause the downfall of Nationwide?

Would that be sufficient to trigger the next stage of whatever it is we are in the middle of just now?

Anyone saying bank runs are dangerous to talk about - so what?

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No chance.

In the first place, everyone now knows about depositor protection.

In the second place, market manipulation could get you prosecuted, and if you try and publicise it widely you'll get caught. Or would, if TPTB took you seriously enough to let it bother them.

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Well the major ones are.

If you want to panic Pipllman, perhaps begin selling off some of your properties. :)

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I have already started this process by keeping all of my savings outside of the banking system. I have direct ownership of it all and avoid counterparty risk like the plague( except for pensions but there is no way out for those).

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I don't think you need anything as dramatic as a bank run. You just need to get the media a lot more hpc and you have to get it into the minds of the younger generations that they don't have to accept the status quo and it shouldn't be a given that they will have a worse quality of life than their parents. The problem is that at the moment the media sells the line that this is the way it is, has always been and nothing can change. It is almost like everyone has been hypnotised. The ptb have the weight of the media behind them at the moment, they also have the money and power and a system which is very incestuous (basically the rich doing favours for the rich). I think the ascent of Corbyn just shows that things can change quite easily but obviously there are a lot of people who don't like the idea of the status quo changing and will do anything they can to smear and belittle anyone who dares to think differently (e.g. Mandelson, Blair, basically neo-Liberalists in general). Once the weight of sentiment changes (and this can happen regardless of the media, see Corbynmania etc) then you will have a sea change in the status quo.

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No chance. Most people still think HPI is good and the only problem they have is getting on the ladder .... fortunately Dave is here to help with a new scheme every year and soon 40-year mortgages will be the norm which helps the banks so everyone is a winner.

http://www.dailymail.co.uk/news/article-3267429/Home-buyers-desperate-property-taking-FORTY-YEAR-mortgages-cost-tens-thousands-pay-off.html

It helps to allow you to borrow more! And when they've done that 50 year mortgages will be the norm and pretty soon the norm will be to rent the property off the bank with individuals never actually owning anything. Result!

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Well the major ones are.

If you want to panic Pipllman, perhaps begin selling off some of your properties. :)

I don't want to panic

I want the system to panic

And maybe a bank run will be one way to do that. It doesn't have to be a justified bank run, just a run caused by a mass of customers that want to advance things to the next stage.

No question about the security of any funds (below the guarantee level) at any UK bank. Other than the associated delay for the FSCS to sort it out, no one would lose out.

But that doesn't stop people choosing to make a withdrawal does it?

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It would have to be part of a broader banking failure otherwise the banking system would just step in afterwards and "rescue" any individual bank. These days they would probably just print the money up. It would be pretty difficult to organise as well - otherwise likely it would have already been tried.

With Northern Rock there had been rumblings for a while then the news overnight about the BoE stepping in. Rightly people didn't want to take the risk so there was the run on the bank but with a background of general banking instability.

Edited by billybong

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we were forced to bail out the banks so they could do this to us?

there's a lot of anger growing, protests, housing crisis, etc.

long term mortgages didn't stop Japan collapsing. it's more an admission collapse is inevitable.

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