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Wednesday, January 09, 2019

Yellow Vests go on the offensive

And they are targeting one of the obvious vulnerabilities of the liberal imperialists:
Yellow Vest protesters are hoping to trigger a bank run with a nationwide coordinated cash withdrawal. By threatening the French financial system, protesters say, they want to peacefully force the government to pass their reforms.

“If the banks weaken, the state weakens immediately,” said Yellow Vest “sympathizer” Tahz San on Facebook. “It’s elected officials' worst nightmare.”

Protesters plan to empty their bank accounts on Saturday, withdrawing as much money as possible in a bid to undermine the French banks – if not the euro itself. The plan is to “scare the state legally and without violence,” forcing the government to adopt the movement’s Citizens’ Referendum Initiative, which would allow citizens to propose and vote on new laws.

“We are going to get our bread back…you’re making money with our dough, and we’re fed up,” said protester Maxime Nicolle in a video message shared on YouTube.

A well-coordinated financial action has the potential to bring the French banking system – and by extension the euro – to its knees, as banks always hold only a fraction of the funds the country’s citizens have in their accounts. However, most banks limit ATM withdrawals to a relatively low amount, meaning protesters would have to line up inside the banks to withdraw the rest of their money, giving the state plenty of time to place restrictions on withdrawals – though this would, no doubt, spark further protest.
This will cause the imperialists to put more stress on "the cashless society", although everyone should now understand that a cashless society is a controlled society.

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82 Comments:

Blogger Nate73 January 09, 2019 8:34 PM  

I'm surprised I can't recall any movements engaging in that tactic before now. It's excellent!

Blogger Arthur Isaac January 09, 2019 8:42 PM  

Can a bank run even work with the way things are currently rigged? Won't they just print mire money?

Blogger Ingot9455 January 09, 2019 8:45 PM  

They will run into a scarcity of physical cash, and shut down.
The lack of confidence is what they are going for. The effect of, after a few days, going to the ATM and the well is dry.
Sure, you can still pay with plastic. As long as it lasts.

Blogger TheLiberatorOfBados January 09, 2019 8:48 PM  

They're catching on to what Trump has already been doing for a while now: Go after the money. Trump's economic policies indirectly impact the swamp because of all the lobbying money that is used to buy off politicians. It's the same thing he's been doing to economically cripple China and to a lesser extent Russia and Iran.

People are starting to wake up to importance of money in all of this. Much of this crap is ultimately financial warfare, and now the plebes are starting to realize how they can wage that kind of warfare in kind. I've had a notion that you could see something similar happen over here in the US by having people boycott the Federal Government by not paying their income taxes based off them not actually doing anything and not wanting to fund border security/national security. I wondered if this would be far-fetched but seeing the French resort to this....now I'm not so sure, and a lot more hopeful....

Blogger Jemison Thorsby January 09, 2019 8:54 PM  

Brilliantly creative move!

Blogger R.G. Camara January 09, 2019 9:02 PM  

I'm impressed. This is a higher-level tactic here. Not only effective, shows to the other citizens/world that the banks can make the government do what they want.

Blogger Dave January 09, 2019 9:11 PM  

It'll be interesting to watch this play out, but I expect it will only result in creating a short term headache for the banks and their customers as the banks build up their operating cash reserves to wait out the protestors. Do the protestors have the numbers of account holders and deposits to do anything besides disrupt things for a few days? Perhaps if they all banked at the same bank.

Blogger Rough Carrigan January 09, 2019 9:16 PM  

Another route for attack is taking that cash and then buying gold or silver. The folks who run a fiat currency system hate hard money as much as they hate us.

Blogger D. January 09, 2019 9:19 PM  

Maybe stop using "electronic" money also?

Blogger Doug Cranmer January 09, 2019 9:24 PM  

Ok, but if Q, the anon AMA posts, even CDAN has told us the last couple of years, nothing is spontaneous. Everything is controlled. Mockingbird, 911, Arab spring. All of it.

WHERE IS THIS COMING FROM?

Really? Just out of the blue this is being organized?

I'm not a conspiracy theorist but I question absolutely everything now.

Blogger Dave January 09, 2019 9:30 PM  

Vox is dead-on re a cashless society. That's been a dream of the imperialists for a long time. Of course it's for our own good they say, eliminating cash will allow governments to crackdown on money laundering and funding for terrorism and the illegal drug trade and trafficking and on and on.

Meanwhile we all lose more and more of our freedoms and rights inch by inch and the money laundering and terrorism and drug trafficking go on barely without a ripple of disturbance.

Blogger Doktor Jeep January 09, 2019 9:34 PM  

This notion has come up before on "patriot" channels in the USA probably since the late 1990s. Of course it was just a pipe dream because most of the sheeple don't have any money in the bank.

Blogger Lazarus January 09, 2019 9:46 PM  

Easily countered by a capital control cash withdrawal cap like in Greece and Cyprus.

Should have been a stealth move, unless it is rhetorical strategy.

Blogger kudzu bob January 09, 2019 9:50 PM  

@Doug Cranmer

Q is a hoax, nothing more. That people continue to believe his posts is a textbook example of disconfirmed expectancy.

Blogger KPKinSunnyPhiladelpia January 09, 2019 9:50 PM  

I wouldn't pin your hopes on such a run toppling the government or creating a huge crisis, as the same actions did in Argnentina in the early 2000s. There simply isn't enough scale from the protestors given the 20+ million households in France.

Besides, the ECB can print money at will, and I bet most of the protestors have most of their money is the huge multi-nationals like BNP Paribas and Credit Agricole.

If anything, such runs would affect a lot of smaller deposit banks in France, and one would think those are last guys the Vests would want to harm, since they do a lot of local business lending.

Blogger Skyler the Weird January 09, 2019 9:54 PM  

If Visa and MasterCard refuse to fund payments to people with a Badthink problem, the administrators of the cashless transactions society will determine who can buy and sell. They'll probably put a banking chip on your hand or if you're hands were chopped off, your forehead.

Blogger kudzu bob January 09, 2019 9:56 PM  

If the Yellow Vests create the fear of bank runs, then perhaps that will stampede others into pulling out their money.

Blogger Up from the pond January 09, 2019 10:01 PM  

Smash the banks!

Blogger PragmaticTroll January 09, 2019 10:03 PM  

It's not about the paper cash. Banks almost always stay maxed out on their reserve requirements. So if ALL the vesters removed their money it would be significant enough to affect the banks. Then all the non-vesters start to worry and remove THEIR money.

Blogger tublecane January 09, 2019 10:05 PM  

When did they start calling them "bank runs" instead of panics?

Blogger Johnny January 09, 2019 10:06 PM  

Rough Carrigan wrote:Another route for attack is taking that cash and then buying gold or silver. The folks who run a fiat currency system hate hard money as much as they hate us.

Back when it was legal to do it, buying up an asset was a money making scheme. Bucky Hunt (I think?) tried to corner the market in silver so many years ago. Drive the price up with purchases and then suddenly sell at the higher price was the scheme.

And then there were the guys who tried to corner the market in sow bellies. Bought them up like crazy to drive up the price. But the price went up only so far. Seems in the butchering industry sow belly was the cheapest cut, and all the meat from a pig could go into the sow belly category. Thus the quantity of meat that went as sow bellies went way up, and the guys who tried to corner the market in sow bellies went broke trying to get the price up.

Blogger Johnny January 09, 2019 10:09 PM  

>>When did they start calling them "bank runs" instead of panics?

Surely a long time ago. They were a common problem in earlier times. The "panic" would cause a "run" on the bank. The panic a mood and the run on the bank an action.

Blogger JAG January 09, 2019 10:14 PM  

Dave wrote:Vox is dead-on re a cashless society. That's been a dream of the imperialists for a long time. Of course it's for our own good they say, eliminating cash will allow governments to crackdown on money laundering and funding for terrorism and the illegal drug trade and trafficking and on and on.

Meanwhile we all lose more and more of our freedoms and rights inch by inch and the money laundering and terrorism and drug trafficking go on barely without a ripple of disturbance.


There are two primary reasons they want a cashless society.

1) Deplatforming on steroids. You will have all your money taken away for wrongthink rather than just being banished from social media, or worse, losing your job. Losing all your cash, too, will have the elite's desired effect of a higher suicide rate. Much higher.

2) Negative interest rates. This is effectively a property tax on wealth. No matter what you do you will steadily lose money in a negative interest rate world. If for whatever reason you cannot add to your account for a period of time you still won't be able to save money as an effective rent will be charged on your savings, eventually bleeding it completely dry. Again, this will lead to higher suicide rates.

The Cashless Society plan is even worse, and more evil than the mark of the beast system.

Blogger Johnny January 09, 2019 10:16 PM  


You would have to know how the French banking system is set up to know how this will play out. If the banks aren't legally required to honor a payout in cash on the spot, they might for example only allow the withdrawal of, say, a hundred bucks (in the local currency) or so at a time, thus slowing the payout. And most likely there is a central authority that will loan the banks cash, probably by having the banks pledge or surrender certain assets as collateral. Unless they are insensible in France, it would be a loan or essentially an asset swap, not a gift.

Back when Greenspan was the head of the fed here in the US, he testified that the fed was prepared to loan the banks any amount of cash, should it be necessary. The means in part was by having a horde of very large domination bills. And way back when I actually read all the fine print that went with a savings account. It announced that the bank reserved the right to delay payout up to thirty days.

Otherwise if it upsets things and makes publicity it would surely be worth doing. And if they can withdraw a really large amount of money it is apt to be disruptive. It would depend on how good the banks are a maintaining normal cash flows. And even a transitory interruption of commerce would be a big deal.

Blogger Doug Cranmer January 09, 2019 10:17 PM  

@kudzu bob

"Q is a hoax, nothing more. "

Fine. But why am I thinking the way I am?

Nothing they said has to be true in the absolute sense.

But they did change things.

Blogger Arthur Isaac January 09, 2019 10:17 PM  

Speaking of drying up, a YouTuber in China has a VPN and has been talking about what's been going on over there. I found it interesting. Serpentza

Blogger Azimus January 09, 2019 10:20 PM  

Who would've ever thought France leads the way. We need some Lafayette battalions...

Blogger Arthur Isaac January 09, 2019 10:21 PM  

And advchina.

Blogger Doktor Jeep January 09, 2019 10:23 PM  

@27
I have a yellow vest and it's been on my couch for over a month. Maybe we'll see it here. Or I'll just start wearing it anyway.

Blogger Lazarus January 09, 2019 10:27 PM  

kudzu bob wrote:@Doug Cranmer

Q is a hoax, nothing more. That people continue to believe his posts is a textbook example of disconfirmed expectancy.


Sauce?

Blogger Doug Cranmer January 09, 2019 10:30 PM  

It's distaction.

It's not about Q.

WHERE DID THIS COME FROM?

Blogger OGRE January 09, 2019 10:30 PM  

This is pretty darn clever. I'm not at all familiar with the french/euro banking systems and if they differ from the Fed Reserve, so I've got no idea what they might be able to do to forestall any issues. But a sudden draining of paper followed by a period of no more being deposited (or far less being deposited than is being withdrawn) could have some significant ramifications.

Blogger tublecane January 09, 2019 10:33 PM  

"Nationwide coordinated cash withdrawal" is boring. What is this "financial action" being called? Money Strike?

Blogger Johnny January 09, 2019 10:44 PM  


Alas, what they are doing is screwing over the next generation, and they are not usually the people with the big bucks. And that likely will limit how much money actually moves.

People go to all this trouble and expense to raise a child, and then when they are an adult they just sort of cast them off. That is what made democracy work in France, at least at first. The key to success is that the warriors who fight the battles were not adequately rewarded, in that they didn't get to be in charge. And guess what, they were the young people.

(It was Nelson Bunker Hunt, Bunkey Hunt, who did the silver manipulation.)

Blogger Dave January 09, 2019 10:51 PM  

The Cashless Society plan is even worse, and more evil than the mark of the beast system.

A cashless society is what allows the Mark of the Beast to be implemented and enforced.

Blogger doctrev January 09, 2019 11:00 PM  

Start a panic against a fiat money system? You must be joking. It MIGHT have worked if the French population was withdrawing francs from French banks, but the French government doesn't even depend on a national central bank anymore. The flow of physical euros to France from the rest of the eurozone can be as strong or as weak as it needs to be, even if a quarter of the French population rebels against their bankers. Rt.com runs some very fanciful propaganda, but their journalists are as incompetent as the American variety. Even if they are less overtly evil.

Now, if a substantial portion of the productive French population is angry enough with the euro to forswear any further use of the EU currency? Creating a large local nexus where cryptocurrency or gold enjoy a dedicated and substantial customer base? That would actually be a gamechanger.

Blogger OneWingedShark January 09, 2019 11:02 PM  

TheLiberatorOfBados wrote:They're catching on to what Trump has already been doing for a while now: Go after the money. Trump's economic policies indirectly impact the swamp because of all the lobbying money that is used to buy off politicians. It's the same thing he's been doing to economically cripple China and to a lesser extent Russia and Iran.

People are starting to wake up to importance of money in all of this. Much of this crap is ultimately financial warfare, and now the plebes are starting to realize how they can wage that kind of warfare in kind. I've had a notion that you could see something similar happen over here in the US by having people boycott the Federal Government by not paying their income taxes based off them not actually doing anything and not wanting to fund border security/national security. I wondered if this would be far-fetched but seeing the French resort to this....now I'm not so sure, and a lot more hopeful....

Trump could, right now, eviscerate much of the lobbying money with one simple EO: apply Art. 1, Sec. 8, Cl. 8 as written. (That is patent/copyright only available to their respective inventor/author; since corporations cannot be an inventor or author [they merely commission a work from the actual authors/inventors].)

Just think of how fast heads would spin. I would wager you would see a constitutional amendment drafted within 24 hours. (This would show not only that Congress can move when it wants, but also that their allegiance is to corporations and not the American people.)

Rough Carrigan wrote:Another route for attack is taking that cash and then buying gold or silver. The folks who run a fiat currency system hate hard money as much as they hate us.
There's a lot of truth to that; and, in conjunction with Vox's observation: what could be more fiat than the "cashless society"?

And the control would be absolute. "Oh, I'm sorry Mr. Shark, you expressed wrongthink and so I deleted your life's savings!" / And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Rev. 13:17

Doug Cranmer wrote:Ok, but if Q, the anon AMA posts, even CDAN has told us the last couple of years, nothing is spontaneous. Everything is controlled. Mockingbird, 911, Arab spring. All of it.

WHERE IS THIS COMING FROM?

Really? Just out of the blue this is being organized?

I'm not a conspiracy theorist but I question absolutely everything now.

This is probably the best mode to operate under right now. Given everything we've seen and learned in the past 20-years, we know that the various elite, orgs, and corps all view us as cattle to be ranched, manipulated, and milked.

Blogger JAG January 09, 2019 11:03 PM  

Dave wrote:The Cashless Society plan is even worse, and more evil than the mark of the beast system.

A cashless society is what allows the Mark of the Beast to be implemented and enforced.


Could be. The description in the Bible only mentions buying and selling. Negative interest rates destroys you even when you are not engaged in buying or selling.

Blogger JAG January 09, 2019 11:05 PM  

Thanks OneWingedShark for the quote. My last post is in error.

Blogger Dave January 09, 2019 11:20 PM  

The description in the Bible only mentions buying and selling.

True, and think about if cash is outlawed and every transaction is monitored and controlled by some authority, just as credit card and debit cards are now. Everytime you use plastic it has to be approved by some authority. How easy will it be for that authority to unperson somebody if they choose to. Some would argue it's already happening, but we do still have the ability to use cash or checks for the time being, but we can all see where it's trending.

Blogger kudzu bob January 09, 2019 11:22 PM  

@Douglas Cranmer

The elites (for for lack of a better term) aren't as smart and as well-organized as some would have us think. They are making ever more unforced errors.

Blogger ZhukovG January 09, 2019 11:34 PM  

So the 'Yellow Vests' threaten a bank run on Saturday. They probably hope to actually cause a run on Friday as all of France tries to get cash ahead of them.

Blogger Doug Cranmer January 09, 2019 11:37 PM  

Justin Trudeau said ‘there is no core identity, no mainstream in Canada’

The world’s “first post-national state” with no “core identity” or “mainstream.”

Does he have no idea what the personal consequences of those statements will be?

God I want the best for Canada.
I want it to be the good country that I knew it.

But we're throwing it all away.

And I understand it will be the good men that make this land again.

Blogger kudzu bob January 10, 2019 12:08 AM  

@Doug Cranmer

No, Trudeau understands nothing. He is quite stupid.

Blogger bobby January 10, 2019 12:55 AM  

The announcement was all they had to do to accomplish their goal.

So long as it was believable - so long as the banksters really believe that a large number of people are going to try to withdraw cash on Saturday - then the banksters are going to incur costs making sure they have cash on hand on Saturday.

That's why they announced it ahead of time. If they really wanted to generate a panic and a run, they would be quiet until Saturday morning. But they announced it ahead of time, giving the banks time to gather cash.

But gathering cash is expensive.

So, they do this, and then there aren't many withdrawals on Saturday. But they make the same announcement in two weeks - and it's believable - and once again the banksters have to pay out money to gather cash.

And eventually the banksters all go to Macron and say "fix this crap!"

One more point of pressure on Macron.

Blogger Harambe January 10, 2019 2:10 AM  

Yes, piss off the bankers. That always works out well.

Blogger mike January 10, 2019 2:18 AM  

Read this bois, early SJW rationalizations, great info to use against their psyche.

https://www.zenspider.com/pdf/CascadiaRubyConf_2012_-_Occupy_Ruby.pdf

Blogger Arthur Isaac January 10, 2019 2:25 AM  

Has anyone else been stealth purged from Amazon reviews? I'm gone and haven't posted anything over there in years. No notice of anything until I tried to comment tonight. Can wait to get an Alexa so they can include audio when they dox me.

Blogger Don't Call Me Len January 10, 2019 4:21 AM  

Sounds nice, but banks didn't get into their current central positions by being stupid shitweasels. Much like Boomers kvetching about "their" SS money, "your" money in the bank ain't yours, and the banks feel no obligation to cough it whenever you ask. Those "privacy" notices that you ignore every year are just like the EULAs nobody ever reads, and MUCH harder to get around.

Besides, who exactly are you going to turn to when the banks refuses to return 'your' money, their BFF the government? Ask how that worked out for the clients of Sentinel and MF Global.

It sounds nice, but a "bank run" launched by retail customers is a pipe dream, and the banks have nothing to fear from folks who could be described at the very best as "multithousandaires". Don't believe me? Then riddle me this: who got the shitty end of the stick in the last financial clusterfark?

Blogger Avalanche January 10, 2019 5:03 AM  

Oh lovely, all those yellow vesters lining up inside the bank withdrawing cash, and all those vibrants lining up outside the banks to take it. Just lovely.

Blogger kudzu bob January 10, 2019 5:06 AM  

@Len

You don't understand. If the French public suddenly can't get money out of the bank, then that will be a huge victory for the Yellow Vests.

Blogger Avalanche January 10, 2019 5:15 AM  

@20 When did they start calling them "bank runs" instead of panics?"

Trading rhetoric for rhetoric... The govt / media CALLING it a panic helps create a "panic" -- a bank run sounds like exercise... "Look! The herd is panicking?! Maybe *I* should start stampeding too!" vs. "Bank run? Yeah, I guess I should run by the bank this week."

Lots of thought-provoking ideas about (govt-described) "panic" (or the govt's own "panic panic") here:

"Fear of Fear: The Role of Fear in Preparedness …
and Why It Terrifies Officials"
http://www.psandman.com/col/fear.htm

"Tsunami Risk Communication: Warnings and the Myth of Panic"
http://www.psandman.com/col/tsunami1.htm

"Fear Is Spreading Faster than SARS" – And So It Should!
http://www.psandman.com/col/SARS-1.htm

Blogger Duke Norfolk January 10, 2019 5:32 AM  

Don't Call Me Len wrote:"your" money in the bank ain't yours, and the banks feel no obligation to cough it whenever you ask.

Yes, all that you said is true. But right now nobody really knows it, or understands it. Or you could argue that it doesn't matter - yet.

But what happens if everybody really wakes up to the fact that their money isn't theirs? It could get interesting.

Blogger Ingot9455 January 10, 2019 6:33 AM  

Lehman Brothers thought they were too big to fail until they weren't.

Blogger Pierre Truc January 10, 2019 6:36 AM  

The boxer who was arrested is a Gipsy. Message from the Gipsy community: we're coming for you.

Seen on TV: CEOs of large companies are terrified their heads will end up on pikes, sending panicked texts to their pet politicians.

German Ex-finance minister Wolfgang Schäuble: "Emmanuel Macron is game over".

Crowdfunding campaign in support of the cops was fake and funded by bots.


Blogger rumpole5 January 10, 2019 7:13 AM  

So long as they allow people to hold physical gold and silver, governments will not be able to fully impose a particular money exchange system. If whatever system the government endorses becomes too burdensome, average people will come up with their own medium of exchange. An example is the use of cigarettes as money in Europe after WWII. One would also see an increased use of barter exchange of goods and services. The bottom line is that once the tax rate goes too high, it goes to zero because people just don't pay it.

Blogger Stacey January 10, 2019 7:15 AM  

@29
I was thinking the same thing here in Pittsburgh. I like the arm band on the girl with the balloon, I think I'll get one today.

Blogger Dirk Manly January 10, 2019 7:37 AM  

@2

"Can a bank run even work with the way things are currently rigged? Won't they just print mire money?"

Not legally.

If they obtain more cash from the printers than what they turn in for destruction (due to wear and tear), then that becomes another liability, of which they can, at max, return out only (100-Reserve)%.

However, because they need that cash to REPLACE the withdrawn funds. So, if the reserve mandate is 10%, and it has 100 Billion Euros (100 Thousand Million for you Brits) of account holders deposits, then a well-run bank will have 90 Billion (90 Thousand Million) of that loaned out. To make the nightly balance, if 1 Billion (1 Thousand Million) were withdrawn, then the bank would be forced to call in 9 Billion (9 Thousand Million) in outstanding loans. But you can't get money from borrowers that don't have the money and are unprepared to make loan payments much larger than their monthly payments. They used that money to buy stuff, not park it in a savings account that pays less interest than what they are paying on the loan.

Remember, everything is upside down in a bank -- when you make a $10,000 deposit in a bank account, that is NOT $10,000 in assets for the bank -- it's a $10,000 LIABILITY (because some day they will have to pay that back to you -- or, if you die, your estate). Similarly, for a bank, a $100,000 mortgage is NOT a liability -- for them, it is an asset (they are making money on it, and it has a value -- they can sell it to another bank). This is why bankers tell you that taking out a mortgage to buy a house is an asset. It's not an asset for you, it's a liability -- the mortgage itself *IS* the asset, because the bank is earning money on it, and they can sell it.

(Hmmm, inversion. Satanic???)

Ultimately, if depositers from the general public decide to withdraw, say, 20 Billion Euros in cash, the ONLY way the bank can balance the book at the end of the night is to call in 18 Billion Euros worth of outstanding loans (not going to happen -- if the creditors could pay off that debt overnight, they would do so), OR they can replace 20 Billion Euros of money from private depositors (20 B liability) with a 20 loan from another bank (another 20B liability), essentially, making that bank a new depositor.

This is how banks worked before the Federal Reserve System law. Now, the Federal Reserve is the "Lender of Last Resort" and the purpose was to stave off bank runs, by reassuring people that their bank would NEVER fail, so don't screw up the bank's books by wanting to withdraw all of your money out of fear. This, in turn, would supposedly stave off recessions and depressions. Yet the Federal Reserve System's first test resulted in the BIGGEST depression we've ever had, causing a worldwide depression.

(Continued)

Blogger Dirk Manly January 10, 2019 7:37 AM  

(Cont.)

But back to the topic.

Now, this lending from one bank to another bank is all well and good, as long as it's just a couple of banks facing a run on their deposits.

What NO system of national banks can handle is ALL of the separate banking entities ALL suffering a run on their deposits all at the same time -- each of them needs to borrow currency, and NOBODY is in a position to make the loans.

Now, the Euro widens the scope -- this lessens the scope from "complete across the national economy" to "One country within the Eurozone."



However, France and Germany are the (per person) two wealthiest countries in the Eurozone, and have the largest populations. Without looking up the numbers, each of them probably accounts for about 1/3 of all of the wealth within the Eurozone that is monetized and has anything to do with the banking system.
If even half of that gets withdrawn in a matter of days, the whole thing goes poof. You cannot have 15% of the cash reserves across the entire Eurozone withdrawn from the banksystem without causing the collapse of the Euro.

Printing money won't help. If you start just giving free money to banks, you might as well use leaves that have fallen on the ground as your currency.

The Weimar government tried printing it's way out of financial disaster, and all it did was produce insane prices, such that a wheelbarrow full of small denomination Reichsmark bills was insufficient to buy a loaf of bread. A figure I saw was something to the tune of 10,000,000 Reichsmarks for a loaf of bread. During the darkest days of the famine caused by the spread of the Spanish Flu into Germany in 1918 didn't cause the price of bread to rise far enough to even hit 1.000 Reichsmark.

Now, %50 might be a little high, but I expect that some depositors in other Euro-using nations will start making withdrawals. Russians, who typically keep foreign currency on hand as a hedge against devaluation of the Ruble, will respond the quickest, by exchanging their Rubles for British Pounds, Canadian Dollars, US Dollars, or Australian Dollars. Possibly Japanese Yen or Chinese Wuan. But they WILL dump their Euros. This will add fuel to the fire by weakening the value of the Euro, thereby reducing the rate that Euros are deposited into banks by people outside of the Yellow Vests zone, which has the same marginal effect as if those people making partial withdrawals of their Euros.... or conversely, their bank accounts being hit with larger withdrawals from debit-card transactions, and monthly payments on credit card debt.

The EU could implode far quicker than we ever expected.

Blogger Dirk Manly January 10, 2019 7:46 AM  

@8

"Do the protestors have the numbers of account holders and deposits to do anything besides disrupt things for a few days? Perhaps if they all banked at the same bank."

A banker's biggest nightmare is a line of depositors stretching out the door, and down the street, for blocks, and knowing that, if he's lucky, only 1% of those people want to make a deposit.

And it doesn't even have to be HIS bank -- bank runs can be as contagious as chicken pox and the common cold. The beauty of this move is this -- as the run on the banks gain momentum, even those who SUPPORT THE SYSTEM will eventually become fearful enough that they, too, will come in and demand to withdraw all of their deposits.
Thus, even the opposition's own assets will be used against their goals... and as these people tend to have larger bank accounts, once it hits that stage, the whole thing will accelerate, like an exothermic chemical reaction or nuclear reaction that is proceeding above the critical rate (the critical rate is where the reaction rate stays constant -- striking a match works because the reaction rises above the critical rate. Your car's accumulation of rust is below the critical rate.).

Blogger Dirk Manly January 10, 2019 7:47 AM  

@11

"Meanwhile we all lose more and more of our freedoms and rights inch by inch and the money laundering and terrorism and drug trafficking go on barely without a ripple of disturbance. "

Of course -- because the biggest players in all of that are the moneymen... i.e. the bankers.

Which means that ALL of the above constitute a meta-false-flag operation.

Blogger Dirk Manly January 10, 2019 7:50 AM  

@15

"I wouldn't pin your hopes on such a run toppling the government or creating a huge crisis, as the same actions did in Argnentina in the early 2000s. There simply isn't enough scale from the protestors given the 20+ million households in France."

How many more are silent sympathizers, who don't want to be in the middle of a protest in which the police are behaving very violently (all but live bullets) against people who are doing absolutely NOTHING other than just standing around, holding signs, and chanting.

Blogger Dirk Manly January 10, 2019 7:53 AM  

@19

"It's not about the paper cash. Banks almost always stay maxed out on their reserve requirements. So if ALL the vesters removed their money it would be significant enough to affect the banks. Then all the non-vesters start to worry and remove THEIR money."

Bullseye!
X-ring, dead center.

Blogger Dirk Manly January 10, 2019 7:55 AM  

@20

"

"When did they start calling them "bank runs" instead of panics?"

1880's IIRC, or 1st decade of the 20th century.

Blogger Dirk Manly January 10, 2019 8:18 AM  

@34

"Alas, what they are doing is screwing over the next generation, and they are not usually the people with the big bucks. And that likely will limit how much money actually moves."

Damaging the Rothschilds by undermining the root of their power (and possibly destroying huge amounts of Euro-based fiat wealth) is harming the next generation how, exactly?

Cutting off a gangrenous finger is a setback, but absolutely necessary for the person with the gangrene.

Putting a man through military basic training is a setback, compared to say, working his civilian job. That sacrifice is an INVESTMENT, not a loss.

Blogger Dirk Manly January 10, 2019 8:28 AM  

@41

"The elites (for for lack of a better term) aren't as smart and as well-organized as some would have us think. They are making ever more unforced errors."

That's because the people who originally set this up, almost a century ago, were very smart.
What you're seeing is how the Flynn Effect successive generations. The 3rd and 4th generation trust-fund babies have their New England private high school diplomas and Ivy League degrees, but their collective IQ is roughly around 110, not lie their great-grandfathers' 150+

Blogger Dirk Manly January 10, 2019 8:55 AM  

@43

"
God I want the best for Canada.
I want it to be the good country that I knew it.

But we're throwing it all away."

I have a friend. Born in Windsor, Ontario. His parents moved to Michigan when he was in grade school. Became a naturalized citizen about 20 years ago in his mid-20's. Probably the most zealous American Nationalist that I have ever met -- in studying for his naturalization exam, he started collecting old history and political philosophy books regarding the era of the founding of the country. Has vocally complained since the 1990s to anybody who will listen that too many in the U.S. military don't even understand the Constitution they swore to defend.

He used to visit his grandmother frequently. She's been dead for about 10 years. About that time, he remarked to me that his old neighborhood in Windsor is not only completely Chinese now, but that they literally tried to run him out of a store there for daring to even get out of car in "their neighborhood." The biggest loudmouths weren't some teenage punks, but a couple geriatric Chinese women minding the store. Now, in my lifetime, the U.S./Canadian exchange rate has always been 1.X US to 1.0 Canadian, with the exception of a few months several years ago, when the Canadian dollar was briefly stronger than the US Dollar.

Never in my life have I EVER heard of a Canadian retail business not being EAGER to do business with an American customer using American dollars.

Detroit radio and TV stations rarely mention the exchange rate... once a year would be considered excessive, even for round-the-clock news channels (such as WWJ 950 AM).

On the other hand, many stations in Windsor will quote the exchange rate on a daily basis. Shopkeepers want to know the exchange rate so that they can have an idea of what premium to offer for U.S. dollars. Canadians wanting to go to the U.S. want to know, because American retailers don't want to fool with Canadian currency, because it trades at below par for U.S. dollars. They WILL conduct credit/debit transactions on Canadian accounts, because the exchange rate is worked into the transaction, and the deposit in the retailer's account is in U.S. dollars, thereby removing all uncertainty.
Back to my friend.

In his eyes, Canada has become so damaged that he won't go across the border now, even to visit relatives, or a relative's funeral.

Oh, and a few years ago, he decided to follow through with long-secret plans to become an M2F tranny -- and STILL refuses to set foot in Canada ever again.

Now imagine that... a Canadian-born tranny saying that Canada is far too liberal to even step foot into ever again, unless under duress.


Yes, he still has his Canadian passport (because Immigration didn't demand that he turn it in when they gave him his citizenship papers)... his thinking being that if things get to screwed up in the U.S., he'll go to Newfoundland... but also says that if the U.S. gets to that point, Canada will have already been completely destroyed beyond repair probably 20 years earlier.

Blogger dc.sunsets January 10, 2019 9:00 AM  

Ironically, a bank run is the endgame for Globalism anyway...but any non-spontaneous move in that direction seems to be a head-fake.

In 1964 silver was removed from US coinage, severing any tangible link to "the USD." [Gold ownership was still illegal, so the 1971 action only affected foreign balance of payments.] This enabled what followed, which was the largest credit creation bubble in recorded history.

We can debate "moneyness" all day long, but to me the filling of the Bond Ocean with $250 trillion of IOU (a future cash flow) IS the embodiment of a monetary inflation for the Ages. It came about during a 35 year bull market for bonds (1981-2016) and because debt (like stocks) is an intangible, the higher prices went, the greater became the quantity supplied...because for intangibles, the Econ101 supply/demand price curve is irrelevant. Intangible markets gyrate in positive feedback loops of boom and bust, a product of pure mass psychology surrounded by Cargo Cult Rationalizations.

How does one "cash out" of $250 trillion in IOU's? Everything is an IOU (IOU-dollars) all the way down to banknote cash, which is a zero-maturity promise to pay----dollars. Cash is the only form of money now in existence that doesn't rest on conversion. And banknotes are ultimately the final collateral in that $250 trillion cross-collateralized market, an inverted pyramid of IOU's of declining duration and rising confidence (in being honored), from the junkiest of junk at the top, down through municipal debt, state debt, federal debt and bank balances...ending in banknotes, the tiny point of the pyramid on which the entire Ponzi rests.

For nearly 40 years governments (and others) borrowed a dollar, spent it into the GDP-counted economy, and a second dollar of wealth, an asset (a receivable called a bond) magically appeared on the bondholder's (or creditor's) balance sheet. Ever wonder how Congress could cut taxes and spend like drunken sailors on shore leave, yet GDP magically rose and we all "got wealthier?"

Borrow-to-Spend was a magic wealth creating machine. Two more more dollars in wealth were "created" for every dollar borrowed and spent.

Of course, that's a lie. It was Cargo Cult thinking through-and-through, and an entire industry arose to "splain" why it was wonderful. It all rested on social mood optimism and pathological levels of trust, a mania of manias, a social condition that far exceeds all prior Extraordinary Popular Delusions and Madness of Crowds combined.

Ponzi's break down when the number of new participants can no longer sustain the withdrawals of earlier marks. This Ponzi will collapse as the pathological trust (in all those promises to pay) drains away in its inevitable cyclical downturn.

The French Yellow-Vest nod in this direction could be the coal mine canary, a signal that a vague, unconscious hint that trust is turning to distrust or much ado about nothing.

Funny thing is, whenever something does change, people will search the millions of prior "events" for "the cause." People are nothing if not wedded to post hoc logical fallacies.

PS: The urge to eliminate cash seems to emerge mostly from those in Power's desire to establish complete control. I find this hilarious because bank runs (and bear markets) are the stuff of mass psychology, which cannot possibly be controlled. We are always and everywhere governed by fools. Control is an illusion.

Blogger Dirk Manly January 10, 2019 9:03 AM  

@47

"https://www.zenspider.com/pdf/CascadiaRubyConf_2012_-_Occupy_Ruby.pdf"

Slide #3 (in pseudo-html)

Occupy Ruby ============= Ryan Davis, Seattle.rb

[center]

What I am talking about
[color=red]
[size=50-point]
MY
FEELINS
[/size][/color]

[/center]
== Cascadia Ruby Conf 2012, Seattle, Cascadia ==

Blogger Dirk Manly January 10, 2019 9:05 AM  

Anybody know if the fat, ugly, demonic shoggoth "Coraline Ada Emhke" is the SJW previously known as Ryan Davis?

Blogger Dirk Manly January 10, 2019 9:15 AM  

@55

"The boxer who was arrested is a Gipsy. Message from the Gipsy community: we're coming for you."

Wait a second now...

Boxing is a generally honest, and certainly painful way to make a living.

That guy must be the only honest Gypsy on the entire planet.

Blogger Dirk Manly January 10, 2019 9:34 AM  

More LOL at the slideshow

Slide #56
---
My time at _EVERGREEN_STATE_COLLEGE showed me lots of ineffective forms of protest.
--

[Emphasis mine, not Ryan Davis's.]

Evergreen State.... figures.

Blogger liberranter January 10, 2019 9:37 AM  

A bank run is just one tool the protestors have at their disposal. Also, the key word in describing this tactic is "peaceful." Whether it succeeds or not, we know for certain that the puppeteers controlling Macron won't let it stay that way. We are about to see how the Deep State reacts when massive numbers of "deplorables" challenge it openly and directly, France representing a test case for the rest of the western world. However the DS reacts, the deplorables already hold the moral high ground.

Blogger Robert What? January 10, 2019 9:58 AM  

The governments of Western countries have basically declared war on their own (White) citizens. When did this start in earnest?

Blogger Dave January 10, 2019 10:08 AM  

Look out below! It's a Dirkvalanche!!

Blogger Purge187 January 10, 2019 10:27 AM  

"The governments of Western countries have basically declared war on their own (White) citizens. When did this start in earnest?"

On college campuses back in the 60s. Those students are now the professors.

Blogger OneWingedShark January 10, 2019 10:43 AM  

Robert What? wrote:The governments of Western countries have basically declared war on their own (White) citizens. When did this start in earnest?
Some people would cite the `65 Immigration-bill, but I think most of our political elite in the 60s were still American [I could be remembering] -- so perhaps this was the "opening salvo" rather than being in earnest -- if I had to put an exact event: when Reagan did his amnesty for border-security deal w/ Congress, and then got shafted on the security from Congress.

JAG wrote:Thanks OneWingedShark for the quote. My last post is in error.
You're welcome; I always get the feeling there's more to the trinity of "the name of the beast", "the mark of the beast", and "the number of the name" than we see there. What is the significance of the three alternatives, individually and collectively?

Blogger Unknown January 10, 2019 11:12 AM  

Remember, everything is upside down in a bank -- when you make a $10,000 deposit in a bank account, that is NOT $10,000 in assets for the bank -- it's a $10,000 LIABILITY (because some day they will have to pay that back to you -- or, if you die, your estate). Similarly, for a bank, a $100,000 mortgage is NOT a liability -- for them, it is an asset (they are making money on it, and it has a value -- they can sell it to another bank). This is why bankers tell you that taking out a mortgage to buy a house is an asset. It's not an asset for you, it's a liability -- the mortgage itself *IS* the asset, because the bank is earning money on it, and they can sell it.

Not really, the house itself is indeed an asset. The mortgage is a liability (an offset to your asset). So if you have a $100,000 home (asset), with a $70,000 mortgage (Liability) then what you have is an asset worth a net of $30,000. Still an asset. Just not the full price of the asset as the bank has a lien payable by your asset.

Blogger dc.sunsets January 10, 2019 12:13 PM  

@78 and if the house's market price falls to $65,000 you still have a $70,000 liability and the bank's loan is technically (in part) unsecured.

This was the lesson in leverage taught (and since forgotten) 2005-2009. Does anyone have any idea what is the leveraged percentage for the estimated $250 trillion in debt currently in existence?

Better yet, for each 0.5% uptick in interest rate for the 3-month T-bill or 10-year T-note, how much capital value evaporates from that $250 trillion, keeping in mind that capital value evaporation comes off the debtor's balance sheet, not the creditor's.

It's the equivalent of every tiny blip upward in interest rates decreasing the sale price of your house (which, in fact, actually is the case now that I think of it.) It reduces YOUR value, but not YOUR LIABILITY to the bank.

This is the asteroid on a collision course with the World's economy.

Blogger Dirk Manly January 10, 2019 1:34 PM  

@80

"Not really, the house itself is indeed an asset."

It's a property with fluctuating value. *IF* it goes up in value (and that increase in value is more than the interest you paid on the mortgage PLUS the property taxes PLUS insurance costs PLUS expenses of repair and upkeep), then you've made a profit on it.

An asset is something producing an income stream.


For most people, the long term costs between renting and buying are about the same. I've heard more than one financial advisor say that the decision to rent or buy is more of a lifestyle choice than a financial one. And for those who it is not a financial one, they're either too poor to buy a house, or so wealthy that it doesn't matter.

The most prominent of this advisors would be Ric Edelman who innovated the Independent Financial Advisor model. He runs one of the most honest business models in the field: He doesn't charge commissions, because his people don't handle your assets. He advises his clients on which of all available alternatives they should exercise to meet their financially-dependent goals.

Because his business doesn't get paid for your financial transactions, his people have zero incentive to advise you to engage in transactions which do nothing but generate commissions for some broker or another.

Stock brokers are the last people who you should be listening to for financial advice. If they aren't seeing much action this month, they'll call you up and advise you to sell something and buy something else... so that they get the commissions. Or, if there's a stock that they think is overvalued, they'll want you to buy some up, so that they can borrow your shares and short the stock. [Yes, that's right. Stock brokers spend a considerable amount of time betting AGAINST the shares held by their clients.]

Two of his most important books are "The Lies About Money" followed some years later with "The Truth About Money."

Blogger Francis Parker Yockey January 10, 2019 10:59 PM  

@74
The governments of Western countries have basically declared war on their own (White) citizens. When did this start in earnest?

https://www.theoccidentalobserver.net/2018/09/23/modify-the-standards-of-the-in-group-on-jews-and-mass-communications-part-one-of-two/

Blogger mike January 10, 2019 11:42 PM  

@81

Good article:
https://www.theoccidentalobserver.net/2018/09/23/modify-the-standards-of-the-in-group-on-jews-and-mass-communications-part-one-of-two/

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