International Cash Withdrawal Day?!!!!
Indykid | 22.11.2001 10:23
Quite a while ago, I remeber reading that only a small percentage of the worlds currency actually exsists in physical coin or paper form, and that if everyone was to demand all their money back from their banks at once (something people are quite within their rights to do surely), the worlds markets would collapse due to the fact that all this money could not be provided at once.
So I had this idea.....why not organise an international cash Withdrawal Day. We could campaign for as many people as possible to withdraw all their money from banks and cashpoints worldwide at once in an attempt to cripple the world economies. If succesful, everyone whether rich or poor would be back on a "level playing field", allowing an attempt to re-build our world in a way that would benfit all, not just small populaion of rich leaders and business men.
So I had this idea.....why not organise an international cash Withdrawal Day. We could campaign for as many people as possible to withdraw all their money from banks and cashpoints worldwide at once in an attempt to cripple the world economies. If succesful, everyone whether rich or poor would be back on a "level playing field", allowing an attempt to re-build our world in a way that would benfit all, not just small populaion of rich leaders and business men.
Indykid
Comments
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Good Idea
22.11.2001 10:49
(?)
slightly misguided
22.11.2001 12:21
lw
Later, perhaps.
22.11.2001 12:58
The rich are perhaps also less reliant on cash than the poor, so might be hit less hard.
"Let's take out all our cash
I hear that's not a good idea
Switch of the box, and watch the system crash.
But then again, it might not crash at all
Not if we, think positivly
If we don't pull the wiring from the wall
Completly, off the wall"
Seize the Day
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who has all the money?
22.11.2001 14:08
al
We live on 20%
22.11.2001 16:01
Think about it, I reckon I could pull out about £400 at the beginning of a good month, later in the month all I could do is increase my overdraft, which would be more interest for them
Crap idea
vincent
Bad Idea
22.11.2001 20:51
Also, since this idea would have to be well publicized, the banks would be prepared (increase their money reserves or be open for limited business only) you can't catch the banks by surprise with a national campagin. Even, if by some miracle you could surprise the banks, since market transactions are done by credit, not actual money, the markets of the world would contine to operaite as they normally do, the credit ratings would not disappear as the money does.
Finally, what happens after national withdrawl day, most likely national deposit day. The banks would simpily regather and go back to normal, the system will not crash.
Tom
Guerrilla withdrawals
22.11.2001 22:31
Only me