Politicspoliticsrcwrt

Wed Jan 9, 2019, 10:30 PM

Elected Officials' Worst Nightmare? Yellow Vests Hope To Trigger Bank Run With Financial Protest

Published time: 10 Jan, 2019 00:32

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.

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https://www.rt.com/news/448426-yellow-vests-financial-bank-protest/

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Reply Elected Officials' Worst Nightmare? Yellow Vests Hope To Trigger Bank Run With Financial Protest (Original post)
RCW2014 Jan 9 OP
orson Jan 9 #1
RCW2014 Jan 9 #2
Red Bull Jan 10 #3
Charlie Mike Jan 10 #4

Response to RCW2014 (Original post)

Wed Jan 9, 2019, 11:25 PM

1. The yellowvests have many fans

on this site. i wonder what they'd think of American yellowvests barricading the streets and trying to bring down the banks here at home.

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Response to orson (Reply #1)

Wed Jan 9, 2019, 11:35 PM

2. It is an intriguing thought as how that would work out if attempted here... nt

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Response to RCW2014 (Reply #2)

Thu Jan 10, 2019, 12:04 AM

3. I use to work for an armored car company

Your average bank in America only has maybe 100 grand on hand each week? Some more and some less.

It only takes a handful of people at each bank across the country to start a bank run.

No shit!!

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Response to orson (Reply #1)

Thu Jan 10, 2019, 12:34 AM

4. It was called "Occupy Wall Street."

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