Legislation Proposed To Criminalize Calls For A "Run On The Bank"

Discussion in 'Markets & Economies' started by chimpanchu, Dec 25, 2010.

  1. chimpanchu

    chimpanchu New Member

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    Ask you self this question. Why would citizens would want to take down banks if banks doing honest and fair business and if putting money in a bank is safe? The average citizens do not and will not ban together and plot to take down a bank or two, neither they want to without any good reasons. In fact it is in their best interest for banks to stay in business, because they have money in banks and how inconvenient can it be to have all of your money stuffed under your mattress?

    Only when banks went to far and their deposit in those banks are in jeopardy then there is a massive withdrawal out of the banks. Without credible reasons people won't do this. And when bank run does happen it will be for a good reason on depositors side.

    IMO when the people have the power to take down banks this is not necessarily a bad thing. In fact in my view is a good thing. Bankers through out history possess a tremendous power if left unchecked can cause alot of financial mayhem on the street and average joes the ones that suffer. This is why President Andrew Jackson banned together with the people and took down the Second Bank of America (equivalent to today's Fed Reserve).

    This legislation is wrong in so many level. At worst it is use for capital control, at best it is to get the camel nose under the tent for even worse banking law in the future.

    Think about it, why all over sudden Government decided to ban "Bank Run" speech in public??? Why "Bank Run"? Why now? Why not banning speech about "Communism" instead, or "Terrorism"? I think bank insolvency is in the horizon for the dutch, bank run is due more than ever. This is why the government and bankers coming down with this legislation to stop depositors to take their money off the bank before they collapse, so bankers can make a run with depositors money.

    People need to stand up straight and stop being bank's pushover.
     
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  2. chimpanchu

    chimpanchu New Member

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    I think this legislation is the result of Max Keiser's "Crash JP Morgan Buy Silver" campaign which turn out to be a success and have a huge effect on JPM.

    The success of this campaign send a wake up call to all bankers around the world, that the people have the power to take them down and end their corrupt way of banking.

    This is why the bankers put up legislation like this to limit free speech. Under this legislation Max Keiser's speech to take down JPM will be deemed criminal.
     
  3. intelligencer

    intelligencer Active Member

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    Yes, why now?
     
  4. Guest

    Guest Guest

    Absolutely +1 on this.

    I do not keep my cash in the bank.

    This is getting worse every day. A call for legal proceedings against free speech means the death of the American constitution. This is a direct attack on the sovereignty of the people and to be honest, even a call for such a 'law' should be considered an act of TREASON.

    If I was a US citizen at the moment, I'd be getting the hell out of that country asap. The US is very rapidly becoming a rogue state IMHO.

    Very reminicent of the early 30s in Germany (as the risk of inducing Godwin's law).

    Whilst the concept of Godwin's law is meant to be mocking, it also illustrates how history repeats. Such an open attack on the constitution rings very big alarm bells for me.
     
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  5. Guest

    Guest Guest

    Apologies, I assumed it was from the following commentary by members here & noticing the Zero hedge link. With the way things are headed in the US though, I naturally thought this would fall in line with what's going on there.

    France though?

    Wow, they have some balls to even discuss such a thing. The French have a habit of beheading leaders who over step their mark.

    This clamping down of the people seems to be happening everywhere lately, doesn't it?
     
  6. Tacrezod

    Tacrezod Member

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    It's in the Netherlands...........
     
  7. Guest

    Guest Guest

    You can see I didn't read the article. Lol.
     
  8. goldpelican

    goldpelican Administrator Staff Member

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    Maybe you should come visit ;) I'm having a blast at the moment, and the fishing is great (2kg/60cm redfish for dinner tomorrow, caught from BP's very own drain). Only been felt up by TSA once.
     
  9. Guest

    Guest Guest

    Where are you based atm GP? I speak to folks in the US almost every day and they report some rather grim circumstances over there right now.

    It must be your accent ;)
     
  10. chimpanchu

    chimpanchu New Member

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    If the dutch sheeples have a brain cell or two, they would have take their money out of their bank now while they CAN, before they HAVE TO. The fact that this legislation came out of the blue, is a strong indication bank insolvency is looming ahead.

    But of course, sheep won't be a sheep if they don't act and think like sheep.
     
  11. goldpelican

    goldpelican Administrator Staff Member

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    Been visiting Florida and Maryland, plus a day in California.

    Florida is in deep recession - the only busy shops I've seen have been toy stores. Lots of foreclosures and half built houses. Florida's money is "imported" though - so it's like a concentrate of the rest of the country - snowbirds skip visiting, retirees on fixed income get hurt by market earnings downturns, retirement and tourism are the main industries down here - some cities have average ages of 62 etc.

    Maryland on the other hand just seems to be undergoing "lean times" - stayed with older relatives, their teenage/early 20s kids are all still studying or working, one actually got a first job out of college while we were visiting. Shops are much busier up there, and people talk about how house prices have stopped dropping. Visited friends and cousins of my wife in their 30s - all working in private sector. Plenty of houses in the $350-700k range still (which you could buy in FL for $100k).

    So I've been staying with "normal" people - teenagers, 20s, 30s, 50s, 60s, across the spectrum of college students to workers to retirees. It's not as bad as some YouTube commentators would have you believe on the ground, but there's always going to be places and people worse off. Everyone is aware of the economic situation as reported in MSM, and EVERYONE is complaining about government spending and QE, and seem to be aware that "something bad" is over the horizon, but the gun show was far less busier than I expected ;)

    LOTS of retail sales though - paid full retail price yesterday on a purchase for what felt like the first time since we arrived. Macy's (roughly equivalent to Myer) have 50% or more off almost everything when shopping. We've been able to get up to 80% discounts in retail stores. Incredible times if you've got the dollars in your pocket. Doing our usual "bring two extra suitcases back) of cheap clothing.
     
  12. President Trump

    President Trump Member Silver Stacker

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    I tried to withdraw more than $8000 from the Westpac in Queen St Mall, Brisbane week before last (to pay a silver stackers member at a F2F). Nope $5000 limit at Westpac. We ended up using a bank cheque. Whether it happens or not, institutions are preparing for bail-in , cash ban, and negative interest rates.

    But I don't agree with being able to call for a run on bank, anymore than I agree with being able to call a guy a "rapist" or a "pedo" without any proof. You are saying the bank is insolvent. If it is true, fine, but it needs to be true by reasonable evidence first.
     
    66rounds likes this.
  13. willrocks

    willrocks Well-Known Member Silver Stacker

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    Do you seriously believe that replacing "bank run" with "flash boycott" will save you from prosecution? Of course they'll word it in such a way that your feeble attempt to side skirt the law will be moot.

    It would be like going into the movie theater and (falsely) shouting "smoke", it would have the same effect as yelling "fire".
     
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  14. SilverDJ

    SilverDJ Well-Known Member

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  15. Number 47

    Number 47 Active Member

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    Because the banks provide the all important service of enabling the fiat and keeping the fiat alive is NO.1 on the Government's priority list.
     

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