Sunday, January 17, 2010

Scotland: Move Your Money!

Clearly the British political class have been intimidated and controlled by the banking elite. So, people must take matters into their own hands!

MOVE YOUR MONEY is a campaign to get ordinary people to take their deposits and savings out of the big banks who are robbing the country blind and destroying economies and move them to local banks and credit unions. The campaign was launched on hogmanay and in the US has had a phenomenal response.

As reported in The Nation:

In the first forty-eight hours more than 100,000 responded with inquiries. Within a week, people had searched for good banks in 16,631 ZIP codes--nearly 40 percent of the nation. The search tool is now getting 45,000 users a day. Naturally, the corporate media promptly assured readers that "ordinary Americans lack the power to hurt the big banks," as a Washington Post headline put it.

Banks really do vie for your deposits. Every pound deposited is multiplied by banks between 10 and a hundred times. Then they use it to buy and sell derivative contract which are fraudulant. When these fraudulant contracts go bust the banks then threaten the government with economic ruin unless they receive bail-outs. So, there is no risk for the banks to prevent them from gambling recklessly with your deposits. If our idiot PM can't take them on the we, the people, must!

The propaganda is that the man on the street can't hurt the banks but no so:

The cynics either do not understand banking or misunderstand the widespread public anger. Dennis Santiago, IRA's CEO and managing director, explained that banks compete fiercely for the "core deposits" provided by individual and small business accounts--this stable money is their preferred base for profitable lending. Take away core deposits, and bankers feel immediate balance-sheet stress. Expand the account base for community banks, and they gain greater stability and greater lending power. "Will moving your money have an effect?" Santiago asked. "And by effect, I don't mean making a momentary political statement. I mean making a structural difference to the country's financial system. The answer is yes."

There you are people. If you don't join the campaign you are allowing the destruction of your economy and future. If you do you bring the beast to its knees. Need I say more?



Anonymous said...

thank god for the internet and bloggers I love this idea
thank you

Anonymous said...

very useful post. I would love to follow you on twitter. By the way, did you learn that some chinese hacker had hacked twitter yesterday again.

Alex Porter said...

Thanks for the complements and I hope it helps! Spread the word..

As for twitter, well I just started this blog recently so give me a chance to get with the pro ;)


Anonymous said...

great article. I would love to follow you on twitter. By the way, did you guys learn that some chinese hacker had hacked twitter yesterday again.

Craig McGill said...

Alex, a good post and an interesting concept but you may have wanted to back it up with some links to local Scottish banks or similar institutions.

Anonymous said...

Agree with last comment. Alex, any suggestions on where we should be moving our money?

Alex Porter said...

I don't have the time to compile such a list. I'm looking for a job right now and don't have the time to dedicate to a capaign. I think credit unions and small banks is the starting point...