Bitcoin promotion oportunity: Bank Mutiny in Europe for December 7

[hugolp]

The peasants are getting restless in Europe: A Bank mutiny for December 7. And this is something that could really hurt the system.

http://www.zerohedge.com/article/december-7-unofficial-pan-european-bank-mutiny-day

This might also be a great oportunity to promote bitcoin. This are the facebook pages of the organicers in each country. If you speak the language you could go to the facebook page and spread the word about bitcoin. You wont find a better crowd elsewhere:

Italy http://www.facebook.com/event.php?eid=165061130188137
France http://www.facebook.com/event.php?eid=101996426533405
Germany http://www.facebook.com/event.php?eid=119746184753138
Holland http://www.facebook.com/event.php?eid=119746184753138
Great Britain http://www.facebook.com/event.php?eid=137793666269183
Greece http://www.facebook.com/event.php?eid=156793421024126&index=1

As always here in Spain there is nothing organized yet.

[Anonymous]

The peasants are getting restless in Europe: A Bank mutiny for December 7. And this is something that could really hurt the system.

http://www.zerohedge.com/article/december-7-unofficial-pan-european-bank-mutiny-day

This might also be a great oportunity to promote bitcoin. This are the facebook pages of the organicers in each country. If you speak the language you could go to the facebook page and spread the word about bitcoin. You wont find a better crowd elsewhere:

Italy http://www.facebook.com/event.php?eid=165061130188137
France http://www.facebook.com/event.php?eid=101996426533405
Germany http://www.facebook.com/event.php?eid=119746184753138
Holland http://www.facebook.com/event.php?eid=119746184753138
Great Britain http://www.facebook.com/event.php?eid=137793666269183
Greece http://www.facebook.com/event.php?eid=156793421024126&index=1

As always here in Spain there is nothing organized yet.

Oh looks like someone posted on the English one already
 http://www.facebook.com/event.php?eid=137793666269183

 

[BioMike]

So, how is this supposed to work? (/me does not facebook)

I don't think many people will do anything with this (at least in The Netherlands).
Haven't heard anything about this on the news yet.

[hugolp]

So, how is this supposed to work? (/me does not facebook)

I don't think many people will do anything with this (at least in The Netherlands).
Haven't heard anything about this on the news yet.

And you wont.

The banks need some minimum requirements, and its base in the money they have. If people start removing the money in mass, they will be bankrupt.

To be honest if something like that happened the government would declare some sort of "Bank hollyday" or something, but it raises awareness.

[BioMike]

We had 2 times, past 2 years that someone told people to get their money from the bank.
It ended in that one bank got bankrupt (there where already financial problems, people getting their money from the bank helped it to get it bankrupt). The other bank (ABN AMRO) ended in the hands of the Dutch government, because if that one would go bankrupt the whole economy would be severely damaged and even more banks would crash. I think banks have to have at least 7% of their money in free available form. In the latter case only a small percentage was withdrawn (government even raised the insured amount of savings in case a bank would go bankrupt (to 100,000 euro if I'm correct)).

[FreeMoney]

We had 2 times, past 2 years that someone told people to get their money from the bank.
It ended in that one bank got bankrupt (there where already financial problems, people getting their money from the bank helped it to get it bankrupt). The other bank (ABN AMRO) ended in the hands of the Dutch government, because if that one would go bankrupt the whole economy would be severely damaged and even more banks would crash. I think banks have to have at least 7% of their money in free available form. In the latter case only a small percentage was withdrawn (government even raised the insured amount of savings in case a bank would go bankrupt (to 100,000 euro if I'm correct)).

Hahaha, 100,000 is but a finite number. We in great USA now have infinite FDIC insurance, literally. No matter how much you can lose, more can be printed.

[Bimmerhead]

Hummm, if this actually caught on wouldn't the smart money withdraw on December 6?

I see the Facebook events have been cancelled in two countries already...

[FreeMoney]

Hummm, if this actually caught on wouldn't the smart money withdraw on December 6?

I see the Facebook events have been cancelled in two countries already...

And the really smart money would....

[BioMike]

Hahaha, 100,000 is but a finite number. We in great USA now have infinite FDIC insurance, literally. No matter how much you can lose, more can be printed.

The finite number is good for 2 things:
1) Our government says, don't bet it on saving accounts with high interest rates. People have to have some sort of responsibility. We had some big problems with people putting a lot of money on Iceave accounts (we all know how that ended). Plus the 100,000 euro insurance is per account (and the hope is then that people split the money and put on different banks). Plus it looks nice towards the tax payers (knowing that there is a limit of tax going into that).

2) Yeah, unlimited printing money is good... no problem with that, right?

[hugolp]

Hahaha, 100,000 is but a finite number. We in great USA now have infinite FDIC insurance, literally. No matter how much you can lose, more can be printed.

The finite number is good for 2 things:
1) Our government says, don't bet it on saving accounts with high interest rates. People have to have some sort of responsibility. We had some big problems with people putting a lot of money on Iceave accounts (we all know how that ended). Plus the 100,000 euro insurance is per account (and the hope is then that people split the money and put on different banks). Plus it looks nice towards the tax payers (knowing that there is a limit of tax going into that).

The real problem is that this guarantees are basically psicological and now thee real deal is that the taxpayers are on the hook for the banks. No bank is going to go down.

[BioMike]

No bank is going to go down.

We had a few going down past 10 year (last one was of average size here in the Netherlands, see https://secure.wikimedia.org/wikipedia/en/wiki/DSB_Bank). Nice for those savers to know that they didn't loose their money due to something they didn't have control over.

[Bimmerhead]

No bank is going to go down.

We had a few going down past 10 year (last one was of average size here in the Netherlands, see https://secure.wikimedia.org/wikipedia/en/wiki/DSB_Bank). Nice for those savers to know that they didn't loose their money due to something they didn't have control over.

Actually depositors do have control over things.  They have control over which bank they put their money into.  And if they didn't have the feeling of security that a government guarantee gives them, depositors would carefully evaluate the solvency of a bank before they put there money there.

A lot of people like to blame Wall St. fat cats for the recent financial debacle and they certainly should bear part of the blame, but government deposit guarantees and mortgage guarantees had the effect of separating beneficiaries (depositors and lenders) from risk & responsibility.  Whenever you do that, disaster is sure to follow.

[hugolp]

No bank is going to go down.

We had a few going down past 10 year (last one was of average size here in the Netherlands, see https://secure.wikimedia.org/wikipedia/en/wiki/DSB_Bank). Nice for those savers to know that they didn't loose their money due to something they didn't have control over.

First they were not savers, as in having money stored in a vault. They were investors in the bank fractional reserve lending program, although you could argue its still a type of savings. But nevertheless they were taking a risk. But the main point is that it was the duty of this people to give their money to a institution they trust and control. Because of the government guarnatees people trust their banks as if nothing bad could happen, and its a big mistake. Banks are companies and CAN fail, nowadays specially the small ones, since the big ones are TBTF.

Bottomline dont trust the banks (specially the ones operating under the government granted credit monopoly, which probably means all the banks that exists in your country).

[SmokeTooMuch]

This might also be a great oportunity to promote bitcoin. This are the facebook pages of the organicers in each country. If you speak the language you could go to the facebook page and spread the word about bitcoin. You wont find a better crowd elsewhere:
(...)
Germany http://www.facebook.com/event.php?eid=119746184753138
Holland http://www.facebook.com/event.php?eid=119746184753138

Same link for Germany and the Netherlands ?! And btw it says: Event has been canceled.

EDIT: That's the right link for Germany:
http://www.facebook.com/event.php?eid=137331642983623

[S3052]

This facebook site is very active in German (no mentions of a cancellation)

[bitcoinex]

Hippies will be defeated because on December 7 will appear new World of Warcraft

[SmokeTooMuch]

Just want to remind you on that topic.
Don't forget it tomorrow if you want to take part.

[Bimmerhead]

hummmmm, methinks this is one party that guests may want to arrive at early...

[S3052]

I'll join in Switzerland