Monday, October 24, 2011

Occupy Vancouver's "Run On The Banks"

On Saturday the Occupy Vancouver protest spilled into downtown banks so that protesters could close their accounts in what they called their "run on the banks". Miraculously, our banks and our entire financial system did not collapse as a result of this loss of wealth. I'd be interested to know just how much money the banks lost during this run on the banks. Are you even allowed to close your account if you have a negative balance?

Have fun living your lives without bank accounts guys and gals. I'm sure they'll all be back re-opening their accounts in the very near future so their parents have an easy way to send them money. It is unlikely that any of these clowns who went in and closed their accounts get direct deposit pay from an employer, if they even have jobs at all. The few people left camping out downtown seem to have a lot of free time on their hands. Occupy Vancouver does have a paypal account and are accepting donations. They are not a registered non-profit so they do not count as a charity.

Today's poll question; should banks be allowed to earn profit?

14 comments:

  1. Bruce from CambridgeOctober 24, 2011 at 6:31 PM

    I guess the fools will now have to use Money Mart

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  2. This is priceless. Someone must have finally got through to them that banks did not fail in Canada and therefore they were not bailed out in Canada. That all happened in Obamaland. So they probably figure that if they can intigate a major run on Canadian banks, it will cause them to fail. It would be so much simpler for them to just move on down to Obamaland with their protest.

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  3. they probably lost about 50 dollars lol

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  4. Nice to see the TSX add 212 points today. Financial shares actually went up; remarkable considering they just lost the business of "the 99%". How much could that business have been worth if markets opened Monday to banking shares going up?

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  5. Gee, and in NYC the idiots have 500,000. in the bank, moving them into the 1% class. Trouble is, they are not sharing it with the rest of the idiots,. Isn't that what they are demanding banks do.
    So, no debit cards, cc will be cancelled, no automatic deposits of their gst cheques. And if that cheque goes back, good luck getting it any time soon.

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  6. Most young people do not get bank stmts. And I wonder how many of those that closed their accounts realize what they have done. At least they wont have numerous charges for ATM withdrawals.

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  7. It would be interesting to find out the name(s) authorized on the OWS bank account. Who has unfettered access to the $500,000.00 ?

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  8. Someone is going to seize the wealth contained in the OWS bank account; the question is who?

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  9. Do you think Maryt, that now that the occupiers removed their money from the bank, are they planning to show the rest of us their redisbution of wealth.

    BTW, to refresh my memory what is OWS?

    I guess the unions would gladly keep their money for safe-keeping or maybe CBC.

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  10. Refresh my memory-What is OWS?

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  11. Maybe they should check with their parents and find out the reality: CPP, company pension plans, and many RRSP's hold bank stocks. If the banks don't make a profit, there are no dividends to fund all those pensions. Are the protesters going to go out and get jobs so they can support the older generation they're trying to impoverish even more?

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  12. ocvcupy wall street

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  13. Now you know why the political Left target younger folks in general.They do not think long term.Heck i didnt even think long term till about 10 years ago.

    Banks at least here in Canada provided me a good service that has always been friendly and why not?I mean they are holding my money.Like anything else its an investment.Get greedy though with the stock market and youll pay the price for that greed.Sounds familiar.Where have i heard that before?Oh yes holy scriptures, take your pick which ones.

    Joshua

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  14. Closing bank accounts is a step toward homelessness. No where to deposit checks (even welfare checks), govt checks etc. Oh wait - they are living in tents on provincial property - kind of like homeless people.

    Now the Mayor has said that city bylaws don't apply to the art gallery property. So who is going to clean this up?

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