BANKRUN 2010! DEC 7th

[themadscientist]

http://www.bankrun2010.com/

First of all, we wanted to raise public awareness on the functioning of the monetary system.

The overwhelming majority of holders of a bank accounts, savings accounts or even a pension plan, are unaware the way money is created or what the banks are doing with the money that 'they are given. They know nothing about the principle of money as debt. They do not know the reality behind words like "asset bubbles", "Treasury bills", "Hedge Funds" or "securitization". Hence the media in general make little effort to inform in an objective, transparent and accessible way to all. The only thing the public really understands is that most major financial crimes and insider trading remain mostly unpunished, but they are the first to pay the consequences.

Not only do we deplore how many questions posed by ordinary citizens on the economic situation remain without clear answers in your columns, but we also regret your lack of zeal in denouncing the measures that have allowed the global economic situation get to the point where it is today: a situation that has bought our heads of states and Governments to their knees before the rating agencies, trembling with fear at the idea that our currencies are deteriorating.


Our politicians can't meet both the interests of financial markets and those of its citizens. So, it is time to remind them who they were elected to serve.

Strikes and demonstrations are no longer useful because whatever we do, we are not heard. And whatever they do, we are not consulted. So we decided to hit the system at its core - THE BANKING SYSTEM

The idea is intriguing. I wish them luck. I made my run a year ago and haven't looked back.

[Encryptshun]

Hey, remember that time in 2007 when the entire banking system was on the verge of collapse and, even with the government printing money and using it to prop them up it still threw us into an economic downturn from which we have YET to recover?

Yeah.

And remember when the banks started pulling out of it, they learned NOTHING from the situation and elected not to expore new profit models in favor of hoarding their capital, ensuring that essential credit continued to be a dry riverbed?

Yeah.

LET'S TRY TO DO IT AGAIN!

Wow, what a colossally stupid idea.

[themadscientist]

history repeats itself, people don't learn. Individuals can, but for the majority of society as a whole, people just do the same things over and over expecting different results. I avoid the moneychangers as much as possible these days.

[Encryptshun]

Your approach is the right one, TMS. If people gradually move their investments from banks to other institutions it will give the system time to commercially react to the change. If people do it all at once, the system will go into shock and bad decisions will be made which are detrimental in the long-term.

Bankers are terrible in a crisis, because they are so disconnected from the fundamentals of capitalist economics.

[themadscientist]

Screw that. I don't want banks to have time to adjust to a damned thing. I want them and their manipulative schemes stripped bare in the public square like a TSA body scanner.
The "system" benefits the elites and crushes the little guys. The "system" is purpose-designed to steal real wealth from hard-working people in exchange for the Fed's funny money and back room deals with the big banks and foreign interests. The system needs to be brought down and real money and responsible banking brought back.
Gradual measures won't work because it gives the con men time to manouver and the lack of shock and drama keeps the lemmingesque American populace tuned in to Dancing with the stars like good little sheep.

This is what you are up against, people like this and what they would do. You trust them? you want to help them? I say it's us against them.

In order for America to support the value of the dollar, it will devalue it.

I say no, I say BTMFD!

[Jesda]

I have a bum knee. A bank walk might be okay.

[themadscientist]

There is a government program for knees. You get on them and beg for mercy. I'd rather die on my feet than live on my knees, thank you.

I find it ironic that when I take the fractional banking system mechanisms and fundamental assumptions to task, I am simply following in the deductive and rhetorical footsteps of a former Federal Reserve Chairman.

The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

http://www.321gold.com/fed/greenspan/1966.html

[MinisterofDOOM]

I deal in cash. I have a savings account at a credit union.

There is a government program for knees. You get on them and beg for mercy. I'd rather die on my feet than live on my knees, thank you.

I'd rather live on my feet.

[themadscientist]

Silver cracked $30 an ounce today.
http://www.thestreet.com/story/10939533 ... -high.html

Silver prices reached a 30-year high as ongoing European debt-contagion fears and Federal Reserve Chairman Ben Bernanke's talk about a possible third round of quantitative easing brought out the sparkle in gold's cheaper alternative.

Gold reaching an all time high
http://www.thestreet.com/story/10939136 ... -talk.html

Gold for February delivery closed up $10.80 to $1,417 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,422.40 and as low as $1,409.80 Monday .

Bernanke signaled that the central bank could expand its $600 billion bond purchase program to address the high unemployment rate. "We're not very far from the level where the economy is not self-sustaining," he told CBS.

You should be imprisoned for treason Ben, you are one of the pivotal figures in the coming collapse.