Business/Finance

Withdraw your money from the banks – Says the Yellow Vest Movement

french yellow vests

Source: 4chan POL Board

The french yellow vest movement is calling all people who support the cause to withdraw ALL THEIR MONEY from the (((banks)))

Knowing that 70% of the population supports them, shit is about to hit the fan

Read more on the carnage of the French economic landscape here. Be very wary of the future economic landscape.

 

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10 replies »

  1. Frenchman here. I sympathize, to some degree, with the yellow vest movement, although I most definitely do not identify as part of it. Here’s my perspective on this:

    The yellow vest movement is very much in open defiance of the established power in general, which includes banks, but keep in mind it’s a mass movement including people from all horizons, and with different opinions of what the yellow vest movement is about. It’s not a monolithic block at all, and it has seen a fair bit of infighting, so for starters, any article titling ‘Yellow Vest movement says X’ should be met with a healthy dose of skepticism, to put it nicely.

    I also see you mentioning the number of 70% belonging to the yellow vest movement in other comments. That’s inaccurate. First, that figure is not about people ‘being part’ of the yellow vest movement, but rather comes from polling about popular support towards the movement, which is an extremely important distinction to make. You don’t see 70% of french people rioting in the streets, not even goddamn close. 70% of a country’s population in the street in not a riot by any standard, but rather a fucking bloodbath shaped revolution. We’re not anywhere close to that. The actual proportion of the population rioting in the streets at a given time is actually in the ballpark of… .1% to 1% (I’m too lazy to check the exact numbers for the past 8 weeks of protests, hence the ‘in the ballpark of’ and the 1 to 10 margin, but you get the picture), depending on the mobilization of the day and whose numbers you trust (i.e. police or protestors). Second, this 70% figure is a few weeks old, and the latest popular support figure is, IIRC, more along the lines of 55%. Which, yes, is still an encouraging thing if you identify with the movement, but that doesn’t mean that your or their dreams are just gonna come true overnight, far from it.

    Guess what I’m trying to say here is, while I can to some degree understand people wanting to believe this is happening, it realistically very much is not, or at the very very least not on the scale you are hoping for. By the way, encouraging a bank run is not without precedent in France. You probably never heard of the previous ones, and that would be because they amounted to exactly fuckall. In fact, the one I remember well was a complete fucking joke, and the guy who instigated it (a former French national soccer team player, Eric Cantona) claimed he would pull all of his money. The mofo ended up withdrawing one thousand bucks, and didn’t get much following, which is not exactly a fucking surprise given his definition of leading by example. I would guess mentioning that event to a French banker would be a very good way to make them erupt in laughter, with good reason. So, there is that.

    Of course, I could be wrong, which time will tell. But given my experience of two months of observing this movement and my twenty something years living in this country, I would say any hopes of a large scale bank run are, as of today, a complete pipe dream. Sorry.

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