And, when I call them morons, I’m not simply using typical language that us folks in political blogging use against our opponents (unlike those on the left, I do not consider them enemies, like the left thinks about the right): in this case, they are morons. Here’s a CNBC story from Friday which jumped into trending over at Memeorandum
In an effort to send a message to big banks, some protestors, who seem to be associated with the Occupy Wall Street movement, have organized an event to remove all funds from banks and into credit unions.
Protestors are calling the event “Bank Transfer Day” and are encouraging people nationwide to participate November 5.
The Facebook page for the event states the following:
“Together we can ensure that these banking institutions will ALWAYS remember the 5th of November!! If the 99% removes our funds from the major banking institutions on or by this date, we will send a clear message and give the 1% a taste of the fear that we experience every day when we aren’t able to pay for our rent, food, medication, utilities, student loans, etc.”
So far over 6,500 people have RSVP’ed for the event.
Moron point number one: one of the things that propelled the United States, and the world, into the Great Depression was a run on the banks, where people were taking their money out, or attempting to take their money out, of the banks. Moron point number two: those uber rich 1% tend to have their money in other places than banks. Moron point three: by doing this, they are going to harm average citizens, not those icky rich people.
Surprisingly, they mention the Durbin Amendment as a reason for doing this
The event’s Facebook page states:
WHY ARE WE BOYCOTTING?
The Durbin Amendment is an add-on to the Dodd–Frank Wall Street Reform and Consumer Protection Act (Public Law No. 111-203), signed into law by President Barack Obama on July 21, 2010. The Act allows the Federal Reserve to regulate debit card interchange fees of banks with over $10 billion in assets. Over the summer, the Fed released the final rule on the matter by limiting debit card interchange fees to a maximum of 21¢ per transaction. In response, these “major banks” have decided that beginning early 2012 any consumer with less than $20,000 in combined accounts will be charged a monthly $3-5 fee if they use their debit card at any point during the month. This is a blatant attack on the 99% that cannot & will not be tolerated. In a stand of solidarity, on November 5th we will transfer our money & close our accounts with these major banking institutions to take our business to credit unions (or local banks if a credit union isn’t available). Since #OccupyWallStreet began, these banks are donating our money (and money they’ve made with our money) to law enforcement agencies to heap abuse on our brothers & sisters. NO LONGER.
Moron point four: if they’re upset with Durbin Amendment, Dodd-Frank, Barack Obama, and the Democrats for passing it, why the hell are they planning to boycott the banks? Why not boycott donating to Durbin, Dodd, Frank, Obama, and Democrats? Why not go protest at the White House, Congressional building, and the buildings that house the congressional offices? Why not say they will not vote for Democrats?
What is moron point number 5?
Well, they’re using this Guy Fawkes mask stylized with the American flag. How is that a moron point? Well, consider what Cracked (yes, I know, but, they’re correct) has to say about 8 historical symbols that mean the opposite
While anarchists may be right that Fawkes was the only person ever to enter Parliament with honest intentions, they’ve forgotten what those intentions were. Fawkes wasn’t trying to destroy an evil theocracy, he was trying to install one.
Fawkes was a fighter for Spain and the Catholic Church. His goal was to end the slightly more egalitarian Protestant revolution in England by restoring Catholic domination. If the Gunpowder Plot had actually succeeded, Britain would probably look less like an anarchist commune and more like the fascist police state Alan Moore warned us about.
Cracked is entirely correct. For their symbol, I recommend
Also
Crossed at Right Wing News and Stop The ACLU. Please sign the drill now petition.
[…] and a coherent thought may occupy your noggin, ye Orange-Wreathed Sloth of #OccupyWallStreet.So, go protest a bank, why don’t you?Category: ProgressivismComments /*google_ad_client = "pub-9749646473075980"; […]
Spot on Teach. Like as not, this proposed run on the banks will be for naught because the banks will just close up and refuse to give people their money. Of course, one can still withdraw money from an ATM machine, but those withdrawals are limited to a maximum per day of around $500 bucks in cash. And ATM’s are supplied with a limited amount of money…say 10 grand or so per day and they would run out quick.
I’m not sure whose agenda these people are serving or if some of them aren’t paid provacaters, but I do want to address your points:
1. The Great Depression was caused by a contraction of the money supply in the New York market. The NY Fed was very much involved.
2. The uber rich do in fact put their money in other places, foundations being a favorite. Notice that the uber-riches foundations often support liberal and leftie causes and rarely Constitutional and patriotic American causes. Social engineering is fun!
3. The average citizen is in more imminent danger of a currency collapse caused by the Federal Reserve Banking Cartel, of which it is highly suspected that Bank of America, Wells Fargo, Goldman Sachs et al are apart of.
4. As for not voting for democrats, some honest to goodness libs might be there, although the media will never tell. I find it interesting in my research to know that the uber-rich give to liberals like Durbin to write this legislation for them. I think we all agree with PJ O’Rourke by now that Congress is nothing but a Parliament of Whores. So why not go after the pimps?
I’ve never been able understand why conservatives can’t see that the left are enemies not opponents, Pol Pot Evan Bayh are merely two different points on the same arc leading downward into serfdom and darkness.
The swipe fees were contractual agreements between businesses who had every right make business decisions. The federal government had no right to intefere. However I think the bank fees are much more fair in that swipe fees are reflected in store prices so those who rely solely on debit cards are being subsidised by cash payers.
[…] Cove: Occupy Wall Street Morons Pushing For Boycott Against Banks […]
Critics of Occupy Wall Street claimed the protest was missing focus, and Occupy Wall Street has responded, reports The Street. The focus is now “Bank Transfer Day,†where customers can transfer their cash out of large banks in what would prove to be a more potent form of demonstration against the establishment. Here is a news, Occupy Wall Street introduces Bank Transfer Day .
[…] to BoA to protest multiple times) have no clue. These same morons are advocating for everyone to pull their money out of banks on November 15th, because of the unintended consequences of […]
[…] to BoA to protest multiple times) have no clue. These same morons are advocating for everyone to pull their money out of banks on November 15th, because of the unintended consequences of […]