France’s Yellow Vests Plan Bank Run to ‘Scare State Without Violence’

Dec 2013
31,089
18,647
Beware of watermelons
#1
French grassroots political movement the Gilets Jaunes — Yellow Vests — is planning a bank run similar to Bitcoin’s (BTC) Proof of Keys, sources revealed on social media Jan. 7.

Dubbed the “Collectors’ Referendum,” the latest demonstration by the movement calls on supporters to withdraw all their savings and other deposited cash from financial institutions on Saturday.

Speaking in a video uploaded to Facebook, an activist known only as Tahz San said the gesture aimed to “scare this (French) state completely legally and without any violence, yet more effectively than ever expected” throughout the history of the Gilet Jaunes movement.



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Ohhhhh, this could be bad
 
Likes: Jimmyb
Jun 2012
41,363
14,997
Barsoom
#2
That would probably equate to another seven euros each. Also, it would be like shooting fish in a barrel for muggers if they worked by volume.
 
Likes: Sabcat
Mar 2013
8,662
9,339
Middle Tennessee
#4
Does anyone actually understand what they are upset about ?? Macron gave the RICH a huge tax break. Now he's wanting to increase gas taxes and tolls on road ways which affect the less affluent and rural parts of the country. He's also lowered to speed limits on most major roads which combined with the country's more than 3200 speed trap cameras also impact rural and poor. At the moment 60% of the traffic cams have been disabled.

The term yellow vest refers to the high visibility yellow vest every driver MUST by law keep in their cars.
 
Likes: imaginethat
Jun 2018
628
204
Toronto
#7
If a bunch of lunatics have enough savings to bring down the financial system simply by withdrawing money from the bank .... what the hell do they complain about??

BTW if some clever criminal convinces them to invest their withdrawals into bitcoins, that would be a delight to watch.

:)
 
Mar 2013
8,662
9,339
Middle Tennessee
#8
If a bunch of lunatics have enough savings to bring down the financial system simply by withdrawing money from the bank .... what the hell do they complain about??

BTW if some clever criminal convinces them to invest their withdrawals into bitcoins, that would be a delight to watch.

:)

Most banks simply do not have the cash on hand to cover more than a small percentage of their depositors. In some cases it wouldn't take more than a few dozen small depositors to drain a bank of its cash. Tens of thousands of depositors across the country ?? If the French central bankers have any brains at all, they're shipping large quantities of cash to their branches at this moment to head off such a situation. Of course enterprising thieves might think it's a good time to hit the armored cars carrying all that extra cash !!
 
Jun 2018
628
204
Toronto
#9
Most banks simply do not have the cash on hand to cover more than a small percentage of their depositors. In some cases it wouldn't take more than a few dozen small depositors to drain a bank of its cash. Tens of thousands of depositors across the country ?? If the French central bankers have any brains at all, they're shipping large quantities of cash to their branches at this moment to head off such a situation. Of course enterprising thieves might think it's a good time to hit the armored cars carrying all that extra cash !!
Most banks have limits on cash withdrawals by default. Anyway:

Indeed, the failing Bitcoin scam immediately jumped at the chance to lure some fools:

How the French Yellow Vest Protest Movement Can Increase Bitcoin Adoption with a Bank Run?

Some of the Yellow Vest protestors had ‘Buy Bitcoin’ written on their rioting uniform. Although only a few of the rioters are aware of Bitcoin, they could have a significant impact in spreading such awareness to their colleagues. So far, the protests have inspired the creation of a Bitcoin puzzle concealed in an artwork depicting yellow vest protestors. The painting was published on Twitter by Pascal Boyart, a popular French artist. The prize money for this competition is $1,000 (0.28 BTC).
They would invest in a currency that has fallen from $15.000 to $3000, five times within a year.
 

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