Monday, October 17 Day of Big Change

There are bank movements all over, scheduled, but why wait? With the Occupy Movement going on globally, now is the time to speak loudly to big banking and let them know, We The People are more then money, we are more then profit, we are the 99%.

Starting tomorrow go to your local bank and close your account, for some of you this may be hard, for some of you they will not let you. For some of you this will mean a couple of weeks of being diligent in your actions, if you believe in taking back your country then you will proceed. When you go to the bank, simply state you would like to close your accounts, you should receive a form to fill out, if they ask you before you get that paper, tell them simply and politely, because you want too. When you get the paper and fill it out and sign it, let them know at this point you are closing your account because you are the 99%.

I say do this after as there are reports that people have been denied being able to close their accounts before signing said paperwork. It is important to let them know why though, this is the whole point in support of Occupy Wall Street, and all the Occupys world wide. This is about a change, a world wide change, we are not money, we are people and we deserve better then what we have been given. Its time to show the governments of the world that we will not sit idly by and let them play puppet master.

Please use the hashtag on twitter #OpCashBack We start on October 17, and spread the word. Please when you close your accounts, come back and tell about it here

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3 responses

  1. The big corporate banks have gotten so fat and corrupt that their economies of scale can’t protect them in the market any more. They are not in the classical banking business any more, they are in the business of holding retail deposit money hostage. The useful economic function of pooling the savings of the masses as a capital basis for making consumer and business loans is no longer their core business, now they mostly use deposit accounts as a tool for charging fees, raising capital from equity and bond markets supplemented by occasional government bailouts and Fed sweetheart deals.

    Compared to credit unions, corporate banks pay less or no interest on deposits, charge more and higher fees, and have higher interest rates on loans. In business terms, they pay their suppliers less (or even nothing) and charge their customers more. They do that to maximize cash flow out of their businesses to two places: a tall pyramid of management and equity shareholders. In comparison, CU’s have very flat and lean management structures and their equity shares are held as one share per member, represented by a nominal (typically $25) share account for each member. CU’s are not charities. They also are not leftist fantasy co-ops that rely on politically and morally enlightened members and managers all sacrificing for the common good. They are very real hard-headed capitalist businesses that run the same basic interest arbitrage business model that has been the basis of sound and stable banks for most of the last millennium. In comparison, the giant corporate banks are the modern analog to the Templars: holding small depositors’ money hostage on the premise of safekeeping and using their holdings to leverage the corruption and ultimately the bankruptcy of governments.

    The big corporate banks’ influence over our government is the hardest political and economic problem we have in the USA. It will not be entirely fixed by shifting 10% or even 50% of their retail deposits to credit unions. However, making a significant shift can be the start of a change in the way people think about their own economic lives. About 40% of all Americans who have deposit accounts of some sort have credit union accounts. Shift that to 55% and the economics are barely noticeable, but the politics change significantly. Corporate banks maintain what good will they have left politically by being familiar, by being the place people put their money. If most people put their money somewhere else, the politicians will eventually start counting the votes.

  2. Send them a message they can’t ignore, starve them from $. They get rich by re-investing your money. But they are so over extended, even a modest bank run will cause them to buckle. Have fun.

  3. Buckle is an understatement.

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