Quote:
Originally Posted by Waking.Up
The point is not to move the money from one bank to the other.. The point is to WITHDRAW all your money from whatever bank youre in. If enough people do that, there will be a downfall of the monetary system because there is not enough physical money that the banks can let out.
The catch is that enough people must act at the same time withdrawing all the money they have.
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I agree this is part of the solution for people to become independent from the banks. But, at some point in time, we're either looking at a sovereign debt default or a "new deal" type program with a currency re-evaluation or hyperinflation. At this point, it won't matter whether you money is in the bank or in FRNs in your hand -- either way it will have the value of toilet paper.
--sjkted