Market Curiosity: Exploring Markets And Systems

December 7, 2010

How Come The Calls to Withdraw Money To Cripple Banks Did Not Work

Filed under: Systems — Tags: , — Jeff Fitzmyers @ 10:41 am

Eric Cantona’s call for millions of people to “cripple the global banking system” with mass cash withdrawals appears to have had little impact.

Not surprised about the “fail”. This is an example of an pseudo “market”. So you take your cash out. Then what?? Put it back in the next day?? It’s still the bank’s money — their faces are on it — they ~own it — they control the float. Need to put your stored value in something with personal control and no counter party risk like silver or gold.

On the other hand, maybe if they keep their money out for a week the will be golden 😉 Bonds are down 1.7% today. Everything except bonds and the Dollar Index started out up today. Then almost everything reversed — except bonds — which are still down. TLT: From Stockcharts.com

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