France is possibly heading for a huge financial nightmare as yellow vest protesters are calling on the people to cash their money from the banks on Saturday.
The capitalist system and it’s evil connected law has hijacked the people’s savings, which legally only covers 15% of their money in the banks?
Yellow Vest protesters are hoping to trigger a bank run with a nationwide coordinated cash withdrawal. By threatening the French financial system, protesters say, they want to peacefully force the government to pass their socialist reforms.
Protesters plan to empty their bank accounts on Saturday, withdrawing as much money as possible in a bid to undermine the French banks, if not the euro itself.
We are intending to get our bread back, because now the banks are making money with our dough, and we’re fed up,” said protester Maxime Nicolle in a video message shared on YouTube.
A well-coordinated financial action has the potential to bring the French banking system – and by extension the euro – to its knees, as banks legally hold only a minor fraction of the funds the country’s citizens have in their accounts.
However, most banks limit ATM withdrawals to a relatively low amount, meaning protesters would have to line up inside the banks to withdraw the rest of their money, giving the state law makers plenty of time to place restrictions on withdrawals, though this would, no doubt, spark further protest.
The financial demonstration is a novel means of circumventing PM Edouard Philippe’s proposed crackdown on “unauthorized protests,” announced earlier this week after a particularly violent weekend of clashes with heavily armed riot police.
The French government has urged the protesters to make their voices heard in a national debate instead of demonstrating in the streets as they have done for the last two months.
The debate, scheduled for next week, will cover climate change, “democratic issues,” taxes and public services.
RT. com / ABC Flash Point Banking News 2019.