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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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12389102 No.12389102 [Reply] [Original]

Yellow vests and /pol/ arr ahitting themselves over planning a cash and digital bank run on saturday. Can this actually have any effect?

To my knowledge I think it's bullshit but I'm financially retarded.

>> No.12389116
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12389116

>> No.12389122

>>12389102
Yeah, I’m going to the bank tomorrow to get everything out in cash. I don’t trust them not to hold my transfer

Better safe than sorry

>> No.12389126

>>12389102
Why don't you become financially literate?

>> No.12389135

Won't it just end in ATMs running out of money and that's it? Would have to be very coordinated to have any effect from what I know.

>> No.12389143

>>12389126
Working on it, but takes time. Understanding Germany's tax system is complicated enough for me atm.

>> No.12389156

>>12389135
wiring money would do more harm i think, but where to?

>> No.12389175

>>12389102
So isn't Saturday in the states actually Sunday in France? What fucking bank is open on Sunday? Also most banks close at Noon on Saturday, so good luck with that lol

>> No.12389185

>>12389156
To your coinbase account and convert it all to bitcoin.

>> No.12389201

the plan seems to be pretty plain simple
>withdraw all cash
>exchange to other currencies
>transfer to non-Euro banks

>> No.12389208

>>12389185
yeah, but 99% of people don't own a coinbase account, think common man

>> No.12389244
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12389244

Some people tell me it's impossible to do a bank run on the Euro from France, others tell me Saturday will be the beginning of the end. I'm confused.

>> No.12389247

>>12389102
It would have to be done on an absolutely massive scale to mean anything significant to the banks. Beyond that, since you have the top percentage of the world holding the majority of the wealth it makes you wonder if the "99%" did a bank run, how much does that matter to them if their serious accounts aren't going anywhere? Having millions of people with a low average account balance to begin with pulling their funds out may sting, but may not have the detrimental effect those were hoping for.
Interestingly though, remember that only (estimated) 10% of global wealth is represented physically.

>> No.12389253
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12389253

it will fail.

>> No.12389254

>>12389208
Common man withdraws his couple hundred euros and then just goes back to the bank a couple week later because he has no way of paying his rent or depositing his paycheck or any other number of things he needs a bank account for like paying his credit card bill, etc.

Meanwhile the bank institutes a new policy with new fees for new accounts.

Waste of time and does nothing but empower banks long-term. gg french fags.

>> No.12389280

>>12389254
yeah, kek, end of story nothing is going to happen, maybe a little bitcoin pump on saturday. But because everybody is expecting it it will probably just dump

>> No.12389326

>>12389280
I think it could work, but it would need to be unbelievably coordinated or have hundres of people each with tens of millions of dollars of assets they wish to liquidate for it to really do anything. And what kind of a retard would withdraw ten million in cash? What an easy target. But should at least be fun to see.

>> No.12389354

>>12389326
25% of people would need to withdraw their money i think. Probably even less. But don't underestimate what people have on their accounts. And there are withdraw limits of 600€/day i think and max 2500€/day if you've adjusted it in the past. (Belgium here, so not 100% sure about france). Wiring is about 25000€ at max a i think. So you would need thousands and thousands of people wiring 25000€ to a non french bank?

Nothing is going to happen

>> No.12389377

>>12389354
2500 euros per day max? Is that real?

>> No.12389402

>>12389377
at an ATM yeah, per card.

You'd need to make an appointment to get everything at once.

>> No.12389404

>>12389354
I agree, yellow vests are counting on 70% of people supporting them according to polls, but I guess less than 10% will take part in the bank run - and those will be the people that have no money anyways.

>> No.12389418

>>12389377
It's 1000€ in germany. Yes that's real.

>> No.12389435

>>12389102
>Yellow vests and /pol/

/pol/ is a containment zone that has next to zero effect on the real world.

>> No.12389497

>>12389354
>>12389377
>>12389402
the absolute state of fiatjews