How To Smash The Banks

http://www.washingtonsblog.com/2011/11/real-capitalists-move-our-money.html


Believe in Free Market Capitalism? Then Move Your Money!

Conservative free market entrepreneurial capitalist Karl Denninger notes:

If you have an account at a BANK, go move it to a CREDIT UNION.

You know, a place that you own and is a mutual association of people?

Yes. One that you own. Where the fees assessed go to provide services to…. you, not to feather the nests of bank executives and stockholders.

Denninger is right.

As HowStuffWorks points out:

Banks are for-profit companies. They make money by charging intereston loans, collecting account fees and reinvesting all that money to earn more profit. But as for-profit companies, they also pay state and federal taxes.

Credit unions, on the other hand, are not-for-profit institutions. Technically, credit unions are owned by their account holders, known as members. Any profit earned by a credit union is either invested back into the organization or paid out to members as a dividend [source: Federal Reserve]. As a not-for-profit institution, credit unions pay no state or federal taxes, meaning they can charge lower interest rates than banks for most financial services.

Real free market, capitalist entrepreneurs want to own and control our own capital. With credit unions, we do so.

Moreover, the big banks no longer do very much traditional banking. Most of their business is from financial speculation. For example, less than 10% of Bank of America’s assets come from traditional banking deposits. Instead, they are mainly engaged in financial speculation and derivatives. (and see this).

Credit unions and small banks, on the other hand, are mainly engaged in traditional banking functions like storing deposits and making loans to Main Street.

As I noted yesterday:

1. The only way to save the economy is to break up the giant, insolvent banks

2. The bought-and-paid-for politicians refuse to do so (because … drumroll, please … they’re bought and paid for by the big banks)

3. So we’ll have to do it ourselves

No wonder churches, local governments, community groups, prominent business men and others are divesting from the big corrupt banks.

***

The big banks are not engaging in capitalism … rather, they are engaging in socialism, fascism, looting, kleptocracy, oligarchy or banana republic behavior (depending on your preference of wording).

On the other hand, smaller banks are engaging in capitalism – and are actually allocating capital to entrepreneurs (what banks are supposed to do).

If we downsize the giant, socialist banks, the small banks will thrive, thus reinvigorating the entire economy … saving capitalism in the process.

Real capitalists will move our money away from the giant, socialist banks and to credit unions … where we own and control our capital.

And where our hard-earned money works for us, instead of being gambled and thrown away in the global casino.

Dislike the Fed? Then Move Your Money!
Conservatives and libertarians dislike the Fed, because it warps the free market.

People who dislike the Fed should move their money out of the giant banks, as that is one of the most effective ways to undermine the Fed’s power.

Specifically, ending the Fed and reining in Wall Street are two sides of the same coin. While even top-drawer economists say we must end the Fed, and many libertarians argue that ending the Fed would “change everything”, the Fed is the big banks and the giant banks are the Fed.

It will be impossible to pressure Congress to end the Fed as long as the giant banks have purchased Congress lock, stock and barrel. The dinosaur banks will pressure their water-carriers in Congress to not only keep the Fed alive, but to give it more and more powers.

So all those who want to end the Fed should also support the Move Your Money movement and divest their funds from the giant banks, because only then will it be possible to end the take away the Fed’s main supporters: the giant banks.

As Charles Hugh Smith noted recently:

There are only three things–and only these three–that will cripple Wall Street’s democracy-killing concentration of wealth and power:

1. Transfer the 99%’s money out of Wall Street and the Too Big To Fail Banks

2. Remove campaign contributions from our democracy in a way that the corporate legalist lackeys in the Supreme Court cannot overturn, i.e. entirely publicly financed elections

3. Abolish Wall Street’s dealer, pusher and protector, the Federal Reserve.

My reasoning is very simple:

Everything else people want to see happen cannot happen if:

1) Wall Street and the SDI (systemically dangerous institutions) a.k.a. too big to fail banks, control most Americans’ financial assets and debts

2) The Federal Reserve exists to enable and protect the SDI’s wealth and power via Primary Dealers, the discount window and other pusher/dealer mechanisms

3) Wall Street and the other SDIs can use the billions of dollars they skim from our accounts, IRAs, 401Ks and pensions to buy political influence and protection from regulation and competition.

Therefore these are the necessary foundations of any real change.

As long as Wall Street and the other SDIs control much of the nation’s financial markets, assets and debts, and the Federal Reserve exists to protect and enable their predation and parasitic skimming, they will have the means to reap billions in profits which can then be funneled into our cash-corrupted political system of for-sale toadies and apparatchiks.

If we don’t end the Fed, it will keep propping up the Wall Street con artists.

If we don’t downsize the giant banks, they will keep propping up the Fed.

Smash The Banks

http://www.washingtonsblog.com/2011/11/key-lesson-from-iceland-crisis-let-banks-fail.html


Key Lesson From Iceland Crisis: “Let Banks Fail”

Posted on November 7, 2011 by WashingtonsBlog

What Iceland Teaches Us: “Let Banks Fail”
Agence France-Presse notes:


Three years after Iceland’s banks collapsed and the country teetered on the brink, its economy is recovering, proof that governments should let failing lenders go bust and protect taxpayers, analysts say.

***

“The lesson that could be learned from Iceland’s way of handling its crisis is that it is important to shield taxpayers and government finances from bearing the cost of a financial crisis to the extent possible,” Islandsbanki analyst Jon Bjarki Bentsson told AFP.

“Even if our way of dealing with the crisis was not by choice but due to the inability of the government to support the banks back in 2008 due to their size relative to the economy, this has turned out relatively well for us,” Bentsson said.

***

Nobel Prize-winning US economist Paul Krugman echoed Bentsson.

“Where everyone else bailed out the bankers and made the public pay the price, Iceland let the banks go bust and actually expanded its social safety net,” he wrote in a recent commentary in the New York Times.

“Where everyone else was fixated on trying to placate international investors, Iceland imposed temporary controls on the movement of capital to give itself room to maneuver,” he said.

During a visit to Reykjavik last week, Krugman also said Iceland has the krona to thank for its recovery, warning against the notion that adopting the euro can protect against economic imbalances.

***

Iceland’s former prime minister Geir Haarde, in power during the 2008 meltdown and currently facing trial over his handling of the crisis, has insisted his government did the right thing early on by letting the banks fail and making creditors carry the losses.

“We saved the country from going bankrupt,” Haarde, 68, told AFP in an interview in July.

As I noted last week:

Iceland told the banks to pound sand. And Iceland’s economy is doing much better than virtually all of the countries which have let the banks push them around.

Barry Ritholtz noted in May:

Rather than bailout the banks — Iceland could not have done so even if they wanted to — they guaranteed deposits (the way our FDIC does), and let the normal capitalistic process of failure run its course.

They are now much much better for it than the countries like the US and Ireland who did not.

Bloomberg pointed out in February:

Unlike other nations, including the U.S. and Ireland, which injected billions of dollars of capital into their financial institutions to keep them afloat, Iceland placed its biggest lenders in receivership. It chose not to protect creditors of the country’s banks, whose assets had ballooned to $209 billion, 11 times gross domestic product.

***

“Iceland did the right thing by making sure its payment systems continued to function while creditors, not the taxpayers, shouldered the losses of banks,” says Nobel laureate Joseph Stiglitz, an economics professor at Columbia University in New York. “Ireland’s done all the wrong things, on the other hand. That’s probably the worst model.”

Ireland guaranteed all the liabilities of its banks when they ran into trouble and has been injecting capital — 46 billion euros ($64 billion) so far — to prop them up. That brought the country to the brink of ruin, forcing it to accept a rescue package from the European Union in December.

***

Countries with larger banking systems can follow Iceland’s example, says Adriaan van der Knaap, a managing director at UBS AG.

“It wouldn’t upset the financial system,” says Van der Knaap, who has advised Iceland’s bank resolution committees.

***

Arni Pall Arnason, 44, Iceland’s minister of economic affairs, says the decision to make debt holders share the pain saved the country’s future.

“If we’d guaranteed all the banks’ liabilities, we’d be in the same situation as Ireland,” says Arnason, whose Social Democratic Alliance was a junior coalition partner in the Haarde government.

***

“In the beginning, banks and other financial institutions in Europe were telling us, ‘Never again will we lend to you,’” Einarsdottir says. “Then it was 10 years, then 5. Now they say they might soon be ready to lend again.”

Even the IMF praises Iceland’s strategy:

As the first country to experience the full force of the global economic crisis, Iceland is now held up as an example by some of how to overcome deep economic dislocation without undoing the social fabric.

While the conditions in Iceland are in many ways different from the conditions in the U.S., Iceland’s lesson applies to America, as well.

Specifically, a study of 124 banking crises by the International Monetary Fund found that propping banks which are only pretending to be solvent hurts the economy:


Existing empirical research has shown that providing assistance to banks and their borrowers can be counterproductive, resulting in increased losses to banks, which often abuse forbearance to take unproductive risks at government expense. The typical result of forbearance is a deeper hole in the net worth of banks, crippling tax burdens to finance bank bailouts, and even more severe credit supply contraction and economic decline than would have occurred in the absence of forbearance.

Cross-country analysis to date also shows that accommodative policy measures (such as substantial liquidity support, explicit government guarantee on financial institutions’ liabilities and forbearance from prudential regulations) tend to be fiscally costly and that these particular policies do not necessarily accelerate the speed of economic recovery.

***

All too often, central banks privilege stability over cost in the heat of the containment phase: if so, they may too liberally extend loans to an illiquid bank which is almost certain to prove insolvent anyway. Also, closure of a nonviable bank is often delayed for too long, even when there are clear signs of insolvency (Lindgren, 2003). Since bank closures face many obstacles, there is a tendency to rely instead on blanket government guarantees which, if the government’s fiscal and political position makes them credible, can work albeit at the cost of placing the burden on the budget, typically squeezing future provision of needed public services.

Indeed, numerous Nobel prize winning and otherwise highly-regarded American economists say that our economy cannot recover until the big banks are broken up.

If the politicians are too corrupt to break up the big banks (because the banks have literally bought the politicians), let’s break them up ourselves.

Many people are doing just that.

How The Zionists Control The British Media

http://www.gilad.co.uk/writings/this-is-how-israel-runs-the-british-press.html



Introduction by Gilad Atzmon:

The following is a glimpse into the Israeli Hasbara's/Mossad's/Sayanim's operation in the UK. It explains how Israel and its agents manage to dominate news coverage in Britain and beyond. It seems from the following leaked email as if BICOM (British Israel Communication & research Centre) runs the News desk for the BBC, Sky and the FT. I guess that last week the Guardian also joined the party. It is now an offical Israeli propaganda outlet.

Shockingly enough, not a single British paper was brave enough to report the story or publish the leaked email. Surely they know who their masters are. The message is pretty clear. British press is not trustworthy. It is as Zionised as our political system.

Bicom 'embarrassed' by misdirected email
Source http://www.totallyjewish.com/news/national/c-16955/bicom-embarrassed-by-misdirected-email/


There were red faces at Bicom this week when an email from its
director intended for donors was in fact sent to the organisation’s
media database.


The email, sent by Lorna Fitzsimons, the director of the organisation,
“dedicated to creating a more supportive environment for Israel in
Britain”, stated: “Throughout the weekend, Bicom staff were in contact
with a whole host of BBC and Sky news desks and journalists, ensuring
that the most objectively favourable line was taken, and offering
talking heads, relevant to the stories unfolding.”

She added: “Bicom has one of BBC News’ key anchors on a bespoke
delegation. When planning her very first trip to the region, Sophie
Long got in touch with Bicom to see if we could help her out with
meeting in the region. Sophie is now spending three days of her trip
with Bicom Israel, taking a tour around the Old City, meeting [Israeli
government spokesman] Mark Regev…as well as visiting Ramallah and
Sderot.”

Most embarrassing, however, was the revelation that Fitzsimons – a
former NUS president and Labour MP for Rochdale – had “briefed
Jonathan Ford, the Financial Times leader writer for his upcoming
leading article” in the paper.

She noted Bicom had “regular contact with the Editor at Large of
Prospect Magazine, David Goodhart, helping to inform him about the
forthcoming UN vote on Palestinian statehood”.

A Bicom spokesman told the Jewish News that this “administrative
error” was “slightly embarrassing”. He stressed that Fitzsimons had
not been “asked to resign or had offered her resignation”.

—–Original Message—–
From:
Lorna Fitzsimons [mailto:lornaf@bicom.org.uk]
Sent:
Mon 12/09/2011 16:44
To:

████████████████
Subject:
BICOM’s rapid response to events over the weekend and continuing work
on September and the UN
Dear████

Please find the correct analysis attached.

I thought you would be interested to hear of BICOM’s response to
events overthe weekend in Egypt as well as ongoing issues in the
region.

Events over the weekend

* Over the weekend, BICOM’s rapid response to the unfolding events in
Egypt included distributing our analysis on Egyptian/Israeli relations
to key UKMedia contacts, generated extremely favourable responses.
Attached here is the link to today’s analysis on this subject.

BICOM Analysis: Israel-Turkey relations after the Palmer Report
http://www.bicom.org.uk/context/research-and-analysis/latest-bicom-analysis/bicom-analysis–israel-turkey-relations-after-the-palmer-report
which details the events that took place, their aftermath and
associated implications. In particular, the briefing examines the
explanations for hostilities between Israel and Egypt, and the
responses to the events in Israel, Egypt and internationally.

* Throughout the weekend, BICOM staff were in contact with a whole
host of BBC and SKY news desks and journalists, ensuring that the most
objectively favourable line was taken, and offering talking heads,
relevant to the stories unfolding. BICOM’s Senior Analyst Dr. Noam
Leshem, briefed the BBC World News Editorial Board on Saturday
afternoon regarding the fall-out fromthe Israel Egyptian Embassy
siege. After contact with the BICOM Media Team,SKY News changed their
narrative in explaining the prior events in the region which lead up
to this weekend, eventually acknowledging that both Egyptians AND
Israelis were killed in Sinai a fortnight ago.

This Week

* BICOM has one of BBC News’ key anchors on a bespoke
delegation. When planning her very first trip to the region, Sophie
Long got in touch with BICOM to see if we could help her out with
meeting in the region. Sophie is now spending three days of her trip
with BICOM Israel, taking a tour around the Old City, meeting Mark
Regev and Dr. Alex Yacobsen, as well as visiting Ramallah and Sderot.

* My second article for the Huffington Post UK entitled ‘How to make
the next9/11 less likely: myth busting and truth telling,’ will be
published today.It is a timely response, synthesising the messages
which can be taken from 9/11 with the current, unnerving events
unfolding between Egypt and Israel. The American version of the
Huffington Post has 1.2 million readers in the UK,and 38 million in
the U.S.

September & the UN

* I briefed Jonathan Ford, the Financial Times leader writer for his
upcoming leading article in tomorrow’s paper.

* BICOM had regular contact with the Editor at Large of Prospect
Magazine,David Goodhart, helping to inform him about the forthcoming
UN vote on Palestinian statehood. The uniquely tailored BICOM
Spotlight -http://www.bicom.org.uk/context/research-and-analysis/spotlight/un-vote-on-palestinian-statehood-
has the most up to date news, as well as BICOM analyses and podcasts
on the Palestinian drive to the UN.

I hope you find this of interest. Yours, Lorna

Background Sophie Long:-
http://knightayton.co.uk/Women-Presenters/Long-Sophie.html

Sophie Long is one of the main presenters on the BBC News Channel.

She has covered many big stories and can regularly be found anchoring
the channel’s output on location.

During the last General Election she was on the road with Nick Clegg
in that extraordinary campaign. Her coverage was acclaimed for its wit
and insight.

She regularly presents bulletins on BBC1.

After graduating from King’s College London with a degree in War
Studies, Sophie travelled extensively, including a period working as
an election monitor in Cambodia. It was there whilst working as a
researcher for Reuters she crystallised her ambition to pursue a
career in the media.

The BBC of course are impartial. They say so themselves.

excerpt

The Agreement accompanying the BBC Charter requires us to do all we
can to ensure controversial subjects are treated with due impartiality
in our news and other output dealing with matters of public policy or
political or industrial controversy. But we go further than that,
applying due impartiality to all subjects.

End

Well Done Adrian Davis

This morning in Court 74 of the Royal Courts of Justice, Lord Justice Ward dismissed Nick Griffin and Simon Darby's application for leave to appeal in the Decembrist case.


Griffin and Darby's counsel accepted that this is the end of the road. The £45,000 that had previously been paid into the Court Funds Office is today being paid out to the solicitors for the Decembrist defendants. Kenny Smith et al. now simply await the "taxing" of the overall costs, which in December 2010 stood at c.£111,000.


In addition to any further costs incurred this year, and of course their own costs, Griffin and Darby will have to pay 8% interest (calculated from last December).


Lord Justice Ward expressed pity for the barrister who had drawn the short straw of having to represent Griffin and Darby:
"You've done very well. I'm unimpressed, I'm afraid. It's not your fault."


He concluded:
"None of the arguments are substantial enough to give a realistic prospect of success. I see no realistic prospect of success and I dismiss the application."


Griffin and Darby were foolish enough to commence this action in February 2008, and I well recall their hubris when I met them in court early that year. (The last occasion I met Nick Griffin, as it happens.) They (and their trusting donors) must now pay the price of that folly – and it will be a very high price.


Despite further hubristic predictions on internet forums (even in recent months) the Welshpool cabal has been comprehensively outmanoeuvred by the Decembrist legal team, represented in court by barrister Adrian Davies.

Diversity Devours Itself

http://www.sundayworld.com/columnists/index.php




TINKER RAIDERS, SOLDIER, SPY
Travellers rob €200k that spook gave Libyan freedom fighter living in Ireland

ROBBED: Mahdi al-Harati
ROBBED: Mahdi al-Harati

A GANG of Irish traveller thieves are in the middle of a holy war - after liberating €200,000 cash destined for Libyan rebels. In a tale worthy of the John le Carre thriller Tinker, Tailor, Soldier, Spy, the scam artists from Rathkeale in Co Limerick hit the jackpot when they robbed a home in Dublin's Firhouse.

As well as a haul of family jewels, they stumbled upon €200,000 in €500 bills hidden in the hot press. But the homeowner was well-known Irish Libyan freedom fighter Mahdi al-Harati, who was one of the leaders of the bloody revolt against Gaddafi.
He has told cops that the cash was a gift from US secret agents to aid the war effort in Libya. Now the money trail has led to the traveller strongholds in Rathkeale, where €500 notes have been popping up all over the place.
Cash donated by U.S. spooks stolen from hot press

A gang of rogue Irish travellers is in the frame for the bizarre robbery of €200,000 in cash donated by US spies to Libyan freedom fighters. In an astonishing tale worthy of the John le Carre novel Tinker, Tailor, Soldier, Spy, the cash that was destined for rebels fighting Colonel Gaddafi's forces was stolen from a hot press in a Dublin house.

Gardai are now investigating the extraordinary robbery which is being blamed on a traveller gang from the Limerick town of Rathkeale. An Irish freedom fighter who helped bring down Gaddafi's hated regime in Libya has claimed that €200,000 cash stolen from his Dublin home was given to him by an American intelligence agency.
The Sunday World can reveal that gardai are investigating the robbery of two envelopes containing €200,000 in €500 notes from the home of Mahdi al-Harati in Firhouse, south Dublin, and that the money trail is leading to the Rathkealers. Al-Harati was in Libya following the successful campaign that toppled Gaddafi when the rebel's house was broken into on October 6.
Ransacked

BATTLEZONE: Mahdi al-Harati helped to lead the assault on Tripoli which ultimately resulted in the fall of Sirte

BATTLEZONE: Mahdi al-Harati helped to lead the assault on Tripoli which ultimately resulted in the fall of Sirte

His Irish wife, Eftaima al-Najar, received a phone call from a local school informing her that one of her four children had a badly injured leg and had been taken to Tallaght Hospital. Eftaima spent a number of hours in the Accident and Emergency department and when she returned home and opened the front door, she realised the house had been broken into. Her house had been ransacked and a substantial amount of expensive Libyan and Egyptian jewellery had been taken from the couple's bedroom.

The hot press had also been emptied and she immediately phoned gardai at Tallaght Garda station and reported the robbery. When detectives arrived at the scene, Eftaima told them that her husband had left a substantial amount of cash with her before he went to Libya. She said she had hid the money in the hot press in two envelopes and estimated that they contained €200,000.

Astonished officers made contact with Mahdi al-Harati who told them that he had travelled to France, the United States and Qatar the previous month and that representatives of an American intelligence agency had given him a significant amount of money to help in the efforts to defeat Gaddafi. He said he left two envelopes with his wife in case he was killed and took the rest of the cash with him when he went back to Libya.

The couple had no comment to make when the Sunday World called to their home last week. Al-Harati led the main rebel advance that captured Tripoli on August 21, a move regarded as being the beginning of the end for Gaddafi. He was appointed deputy leader of Tripoli's military council, a group which had the aim of merging all rebel units into one coherent national army.

RARE: Cops are looking for €500 notes
RARE: Cops are looking for €500 notes

Just days after the robbery in his home, al-Harati resigned from the council and returned to Dublin and has since been formally interviewed by gardai. Astonished detectives have launched a major probe into the daring robbery and issued an alert to all banks to be on the lookout for €500 notes, which are extremely rare in Ireland but would be relatively common in other European countries.
Officers were then stunned when it emerged that members of a well-known traveller gang from the well-known town of Rathkeale in Limerick had lodged a number of €500 bills into their bank accounts. The gang are known to have carried out dozens of burglaries of houses across south Dublin in recent months.
Gardai believe the gang happened upon the home of al-Harati and his wife by chance and had no idea of the massive cash windfall they would find when they broke in. The garda probe into the robbery is ongoing and officers are confident that they will make arrests in the case.

TRAVELLER TOWN: Rathkeale
TRAVELLER TOWN: Rathkeale

A number of rogue traveller gangs operate out of the small Co Limerick town which has become famous for the annual homecoming. Every Christmas the high rollers return from dubious trading jaunts around Europe in fleets of brand new cars worth hundreds of millions. They stay for several weeks for a legendary "wedding season" before heading out on the road in the new year.
Al-Harati and his wife are cooperating fully with the investigation. The 37-year-old teaches Arabic in Dublin. He came to Ireland over two decades ago and met his Irish-born wife here. Her father was born in Libya and her mother is Irish. She changed her name and religion when the couple met.

The Zionist Harvest

http://www.israelnationalnews.com/News/News.aspx/149374#.TrQLPnGGwl4



Israeli security officials are keeping a wary eye out on several groups that are planning mass marches on Jerusalem. One march is scheduled for November 25, and is being organized by the group that tried to conduct a mass march to Jerusalem last September.

This time, however, organizers – and Israeli security officials – believe that the group may attract larger numbers. The group is set out from three locations – Jordan, Syria, and Lebanon – on November 25, with the objective of reaching Jerusalem on November 29, the anniversary of the adoption of the UN partition plan for Mandatory Palestine. Officials said that the group was encouraged by the recent attempt – and temporary success – of Syrian Druze who “invaded” the Golan Heights for several hours, tearing down a border fence to enter the country. Several sources claimed that some of the Syrian Druze were able to enter the interior of Israel, with several claiming to have reached Tel Aviv.

But even more worrisome is another march is scheduled for March 2012, Israeli officials said. That march is being organized by Indian activist Feroze Mithiborwala, who said in a recent press conference in Pakistan that the march will unite people from all over the world, and of all faiths - including Muslims, Hindus, Christians, Sikhs and Jews - "to participate in the march towards the Jerusalem and liberate it from the Zionists.” The march would be in the form of a “caravan” which would start from three directions – Asia, Europe, and Africa, originating in India, Turkey and Morocco respectively. The caravans would stop in all the countries on the way and pick up more participants. The objective is to gather hundreds of thousands, if not millions of people at the borders of Israel who would simply push their way through, reaching Jerusalem and “liberating” it.

A group helping to organize the March event, the International Committee of the Global March towards Al-Quds, said in a statement this week that “since the Zionist occupation of 78% of Palestine in 1948, and the subsequent occupation of Jerusalem and the rest of Palestine in 1967, we have witnessed growing efforts to Judaize Jerusalem and colonize Palestine. These crimes against humanity are done under the political protection and full support of successive American administrations and enforced by its veto at the United Nations.

“Jerusalem and all of Palestine need to be liberated, redeemed and restored as a land of freedom and coexistence by people of the world from all religious and cultural backgrounds. As part of this movement and at the invitation of Palestinians, we decided to organize a Global March to Jerusalem (GMJ) aimed at raising awareness of the mortal threat to Jerusalem and all of Palestine by the hands of Zionists and helping us move closer to the day of freedom.”

Mithiborwala is the head of Indian radical political group Awami Bharat, which bills itself as conducting “an international struggle against imperialism, Zionism, and Brahmanism.”

This Is The Real Revolution

This is how you create a revolution.

You dont demonstrate / riot / attack the state or its corporate masters.

Thats what the state wants you to do.

This is how you bring down the bankers - you take your money out of the banks and put it into Credit Union.

I began this campaign on Twitter at the start of the Occupy Wall Street protests and gave the idea to Max Keiser on Twitter.

Good to see the plan is working.




http://www.msnbc.msn.com/id/45176720/ns/local_news-los_angeles_ca



The big banks are keeping mum about whether customers are switching to non-profit credit unions this weekend as part of the Facebook-propelled "Bank Transfer Day" protest.

In Los Angeles, organizers predicted that thousands would move their accounts from the big commercial banks, but it was unclear how many actually did.

Doug Allen moved the bulk of his and his wife's savings to Partners Credit Union in Burbank, which has added some 600 new accounts recently and took the unusual step of opening its doors on a Saturday.

"I've meaning to do it for awhile, so when I saw this event today, I thought, 'That's the perfect reason to finally do it,'" Allen said.

An estimated 650,000 consumers have transferred $4.5 billion from banks to credit unions since the end of September.

Colleen Haggerty, a spokeswoman for Bank of America's Southern California operations, said the giant institution had no comment.

But she said that the bank has to publicly disclose its deposits every three months to comply with regulations governing financial institutions and publicly traded companies.

That means the information will be broadly available at that time, though it might not be possible to check whether deposits dropped on a particular day.

She said the bank, under fire for a now-abandoned plan to charge customers $5 per month for ATM privileges, was still "great" for customers.

"Bank of America continues to be a great place for customers to manage their everyday finances and achieve their savings goals," Haggerty said in an email. "We offer customers more choice and convenience, including industry-leading fraud protection, access to thousands of banking centers and ATMs, and the best online and mobile banking, which allow customers to bank on their terms 24/7."