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Old 11-01-2019, 02:24 PM   #1
decim
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Arrow Yellow Vest Call For Run On French Banks

Furious yellow vests are preparing to withdraw all their euros in a massive run on French banks, as the violent protests spill over to Britain.



Yellow vest activists are urging French citizens to empty their bank accounts and spark a massive run on the country’s banks in their longstanding fight with the government — which could lead to the collapse of its banking system.
The call for citizens to withdraw all their euros come as copycat protests are planned for Britain on the weekend.
The left-wing “People’s Assembly” activist group has invited thousands of people to wear yellow vests at an anti-austerity “Britain is broken” march in central London this weekend.
“See you on the streets and don’t forget your #YellowVests,” the group, which is demanding a general election to end the ruling Conservatives’ program of austerity, wrote on Facebook.


Meanwhile right-wing, Brexit-supporting activists have signalled their intent to hold demonstrations in British cities, including the capital, under the banner “#YellowVestUK”.
This comes ahead of the ninth straight weekend of protests across France, with yellow vests now issuing calls on social media for massive cash withdrawals from banks.
Protesters hope the move will force the government to listen to their demands, notably their call for more direct democracy through the implementation of popular votes that allow citizens to propose new laws.
Activist Maxime Nicolle called it the “tax collector’s referendum.”
In a video message, Nicolle said “we are going to get our bread back … You’re making money with our dough, and we’re fed up.”


WHAT COULD A BANK RUN MEAN?
If a bank run succeeds, the yellow vests could cause a complete failure of France’s banking system.
Unlike Australia, France operates on a Fractional Reserve System meaning their banking system holds a fraction of money that’s deposited by customers. The rest is used to make loans, creating new money.


The countries banks are believed to have about a quarter of the cash needed to weather a bank run.
If reports are true in saying 70 per cent of the population plans to withdraw all their euros, it means more than 46 million people will be directly revolting against the system.
This could lead to a systemic banking crisis in the country where almost all the banking capital is wiped out.
HOW COULD IT AFFECT ECONOMY?
France has the seventh largest economy in the world and the second largest in Europe, valued at $US2.58 trillion, according to world bank data.
It relies heavily on tourism and agriculture to sustain this — and boasts being the most visited country in the world.
If a bank run leads to widespread financial crisis it can result in a long economic recession for businesses and consumers who don’t have enough money.
During the Great Depression in the 1930s much of the economic damage was caused by bank runs.
A bank run like the one being promoted in France now could potentially paralyse the country’s economy and lead to a collapse in the Euro.


FUNDRAISER FOR ‘ORDINARY’ BOXER
Meanwhile, French officials slammed a fundraising drive that brought in more than 100,000 euros ($A160,000) for a former boxer filmed punching police officers during the latest “yellow vest” anti-government protests in Paris over the weekend.
Christophe Dettinger turned himself in to police after videos emerged of him assaulting shield-carrying officers during the demonstrations on Saturday.


More than 7000 people had pledged a total of 117,000 euros ($A187,000) to help pay legal costs for Dettinger, who remains in custody.
In a video posted on YouTube on Sunday, he described himself as an “ordinary citizen” acting out of anger with what he called the repressive tactics of the police.
“I was tear-gassed, with my friend and my wife, and at a certain point the anger just rose up inside me,” said the 2007 and 2008 champion of France’s light heavyweight division.
His case garnered many pledges of support on social media, with some calling him a hero for defending a movement which has accused police of using excessive force against demonstrators.



mural by street artist PBOY depicting yellow vest protesters inspired by Delacroix’s painting Liberty Leading the People. Picture: Philippe Lopez/AFPSource:AFPPublic sympathy for the movement is strong, with a huge mural celebrating the revolt appearing in one of the most traditionally left wing districts of the French capital. Street artist Pascal Boyart created the work, based on Eugene Delacroix’s monumental canvass Liberty Leading the People, which glorified the revolution of July 1830 in which the people of Paris drove King Charles X from power.
He told AFP that the mural was to show his support for the anti-government protests which have shaken France since November.
“Art has always been a means of expression for all political movements,” said the 30-year-old painter.
He has also added a “bitcoin puzzle” to the work, and said the person who finds the key will win 1,000 euros ($A1600).
One of Boyart’s previous works shows Delacroix setting fire to a 100-euro note.



Several hundred women wearing yellow vests have marched during a rally in Paris and in other cities to give a different image to the movement. Picture: AP Photo//Michel EulerSource:AP
Ten people have died in the revolt and over 1400 have been injured, according to the BBC. But several hundred women wearing yellow vests marched through Paris in a bid to restore a peaceful image to the grassroots protest movement, a day after demonstrations veered once more into violence.
Some women carried yellow balloons, and at one point, they fell to their knees in a minute of silence for the 10 people killed and many others injured since the movement began in mid-November.
Women also marched in other cities around France carrying signs reading “I am your daughter” or “I am your Grandma.”
https://www.news.com.au/world/europe...a1b108c78f25eb
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Old 11-01-2019, 04:05 PM   #2
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Where's their supreme leader whilst all this is going on?

More to the point, who is really behind this yellow vest thing?

Maybe people in Europe have genuinely had enough of forced immigration, austerity and the EU.

Is anyone on this site based in France?
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Old 11-01-2019, 05:03 PM   #3
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Dieudonné once called for it when he started his career as a 'truther'... it's quite a challenge because in case of bankrupt all customers lose their assets at once... so it wasn't followed in acts at the time...
.

Last edited by TheArranger; 11-01-2019 at 05:24 PM.
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Old 11-01-2019, 10:07 PM   #4
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remember the run on northern rock? close the branches and switch off the atm system. no run.
you dont announce it, you gradually take it all out.
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Old 11-01-2019, 10:59 PM   #5
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The run on the Northern Rock was the start of the financial crash on the TV here in the UK. Showing all the geordies queueing up to get their cash out...

The rest is history and nothing has been the same since.
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Old 13-01-2019, 04:03 PM   #6
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what they need to do is riot in the banking quarter, get it smokin and watch just how many troops turn out to protect the bankers interests.
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