[CaptainChardonnay]

(01-10-2019 05:16 PM)Oberrheiner Wrote:  

(01-10-2019 04:07 PM)CaptainChardonnay Wrote:  

To be fair, they're charging a service charge. Why would they just hold your money for free?

Because it's money.

It's not just sitting there idly, it's being used for speculation and other activities from which they earn more money for themselves.
And not only am I getting nothing out of all this, but I have to pay for them to be willing to take it from me.

Am I really the only one here who finds this crazy ?

(01-10-2019 04:07 PM)CaptainChardonnay Wrote:  

Most of the time also, the bank doesn't charge your account if you maintain above a certain amount in the account.

Yup, saw this in switzerland, starting from seven thousand francs on your account which is reasonable for most people over there.
Never saw it in france or germany though.

Banks are a business just like any other and they will charge fees where they can. What they are doing is creating an incentive for you to deposit more money so that they don't charge you. Having higher cash deposits allow them to lend it out.

The lending out of money isn't all that bad because that money is used by small businesses in the community on the small scale and large corporations on the larger scale to build a nations GDP.

A person with a small business who wants to expand their business but doesn't have enough cash can borrow that money which comes from the bank, which comes from people who deposit. The bank brings these two people together.

If you were to directly loan out money to someone, you would face the risk of them losing that money and you losing your whole investment. That is the risk that banks face and is why they charge interest. Riskier loans require greater compensation to account for that risk which comes in the form of interest.

Below 7 thousand francs, the cost of holding that money might be higher than the benefits of holding it. Banks have overhead and employees to pay as well.

It could be different with France and Germany however as I know your rules and regulations are more strict. The French for example really don't use credit cards. My roommate thought the concept was quite foreign when I asked him about it.

[Oberrheiner]

(01-10-2019 05:30 PM)Easy_C Wrote:  

Get around that by using Custodial banks.

I looked it up online, we don't seem to have that it here.

There are 2 french entries in that list but they are not for the general public apparently :
https://en.wikipedia.org/wiki/Custodian_...dian_Banks

(01-10-2019 07:14 PM)CaptainChardonnay Wrote:  

It could be different with France and Germany however as I know your rules and regulations are more strict. The French for example really don't use credit cards. My roommate thought the concept was quite foreign when I asked him about it.

True, everybody uses debit card here - they are called credit cards though

Many retail chains are trying to push their own credit card but success has been very limited : once you understand the credit revolving behind it there is just no way it will ever take off here, it's seen as a total scam.

In germany even debit cards are rather rare, I have been seeing most people use the EC card system which has much (much) lower fees for the merchant, but works only in germany AFAIK.

[lookslikeit]

(01-10-2019 02:19 PM)kosko Wrote:  

Banks need to have set floats of reserves on hand to remain solvent, this is why Bank runs make Banks nervous. When people take out all of their cash, technically, the Banks then can't go outsource other cash, can't lend, etc. which constrains their ability to do business. The whole idea of the scam of a Bank is that you never expect everyone to want their money at the same time. You never actually have your money kept in your account, it is simply just a guarantee, and then the Banks go lend out and shop your money to bring in returns -- this is how modern fractional reserve banking works. Technically, if I recall, Banks only need to keep 10% of their reserves and they can go gamble the rest away.

In the digital world it is difficult to do because a Bank can manipulate it systems to hold and delay cash from being accessed by the people. They have the ability to create instant traffic jam in their systems. Expect lineups that go on for days as the Banks limit the cash to a trickle and place withdrawal restrictions per transaction.

So, all the French people would have to do is withdrawal around 8-12% of their cash value and the Banks would be in trouble - maybe then $11-12 billion, which for a modern and large economy is not that much money (which also shows you the danger of how delicate the Banking sector is).

I understand reserve banking. What I'm saying is that most of the money is being held in a minority of the population (not the elite but the top tier of the society). I don't think these guys share the same ideas as the yellow vests.

[Barron]

Massive explosions in Paris

[rotekz]

The Mail is saying a single gas explosion at a bakery.

Quote:

A large explosion has rocked central Paris seriously injuring at least 12 people with five critical following a suspected gas leak at a city centre bakery.

Fire department officials said five people are in a 'critical condition' following the blast which destroyed the Hubert bakery on the corner of the streets Saint-Cecile and Rue de Trevise in the city's 9th arrondissement.

Firefighters used ladders to rescue elderly people trapped in apartments above the bakery.

A Paris police spokeswoman said firefighters are currently at the scene of the blast at the bakery on Rue Trevise in the 9th arrondissement of north-central Paris.

Several of those injured in the blast were sitting in the street eating their breakfast when the bakery exploded.

Witnesses told local media that if felt as if there had been an earthquake, with buildings rocked several hundred metres by the blast.

French prime minister Edouard Philippe arrived at the scene around an hour after the blast to inspect the damage.

[Syberpunk]

So is this bank run happening today or what? Found this on 4chan:

[Foolsgo1d]

Just a coincidence or an actual tactic? How often are such outtages over a weekend conducted because these systems are 24/7 and they do need maintenance.

The reason I ask this is because fake news goes both ways.

[Paracelsus]

(01-12-2019 08:28 AM)Foolsgo1d Wrote:  

Just a coincidence or an actual tactic? How often are such outtages over a weekend conducted because these systems are 24/7 and they do need maintenance.

The reason I ask this is because fake news goes both ways.

All I'd say is that even in PropagandaWood, the movie adaptation of The Big Short had a sequence where, when the guys who saw the Subprime Crash coming tried to cash in their chips, the investment banks who held their contracts held off paying them on, among other things, the excuse that they'd had a "computer failure". It's not as if there's any government body that would investigate to see if that failure was real or not.

[Syberpunk]

(01-12-2019 08:28 AM)Foolsgo1d Wrote:  

Just a coincidence or an actual tactic? How often are such outtages over a weekend conducted because these systems are 24/7 and they do need maintenance.

The reason I ask this is because fake news goes both ways.

It usually happens on a Sunday night, early Monday morning at 3 am though.

[ChicagoFire]

I don't think it's a matter of are they doing it this weekend. It's a matter of can the bank run tactic ultimately collapse the EU over x amount of time. The people that sit on the sidelines during the vest protest may have to get involved when their finances tank. You may not ask for war but it will find you.

(01-12-2019 08:28 AM)Foolsgo1d Wrote:  

Just a coincidence or an actual tactic? How often are such outtages over a weekend conducted because these systems are 24/7 and they do need maintenance.

The reason I ask this is because fake news goes both ways.

I didn't look up all the sources but for the first one about Ireland the article was posted about 22 hours ago. I'm leaning towards these are preliminary measures by the central banking system.

The best way to know if the bank run tactic is working is through eyewitness accounts. Go figure the MSM will report the truth as that will lead to more blood on the streets.

[ChicagoFire]

More food for thought:

Foreign powers, especially anti-EU countries, are either involved or will be getting involved with these protests. If you don't think Vlad, the Poles, or Hungarians will come in with assault rifles and their gang of expert military trainers for Frenchie to kick things into overdrive you're dead wrong. Based on my very limited knowledge, doesn't Putin have an axe to grind with the EU? What better way to get even than to collapse one of their cash cows. We are still fighting in a 4G war (state versus non state actors) so this scenario can happen. Even without foreign powers getting involved once domestic terrorists using molotovs and pressure cooker bombs decide their way is the only way we will see the EU blow up this year. French RV forum guys should report back to us if there's recruitment appealing to the younger crowd that tend to be attracted to this group.

Yellow Vests is a controlled movement that has already been coopted. Everybody involved will be rounded up and shot. Bank runs will end up being a dud. When you consider the previous paragraph there's no way the state will want to lose its nukes. This movement will die off and Macron will remain President.

[Malone]

(01-12-2019 09:52 AM)ChicagoFire Wrote:  

Yellow Vests is a controlled movement that has already been coopted. Everybody involved will be rounded up and shot. Bank runs will end up being a dud. When you consider the previous paragraph there's no way the state will want to lose its nukes. This movement will die off and Macron will remain President.

You are seriously predicting that the French government is going to round up and shoot working class protesters? I have no words.

That would be the quickest way to turn France into a civil war hellhole, and it's definitely not going to happen.

The rest is very plausible. The movement will probably just die out.

[Syberpunk]

[Praetor Lupus]

[url=https://twitter.com/IrexitFreedom/status/1084112835196669953][/url]

[Oberrheiner]

(01-12-2019 09:52 AM)ChicagoFire Wrote:  

If you don't think Vlad, the Poles, or Hungarians will come in with assault rifles and their gang of expert military trainers for Frenchie to kick things into overdrive you're dead wrong.

Who do I send my address to ?

[redpillage]

@Syberpunk LEARN HOW TO SIZE IMAGES - you're blowing up the page.

[Syberpunk]

(01-12-2019 11:42 AM)redpillage Wrote:  

@Syberpunk LEARN HOW TO SIZE IMAGES - you're blowing up the page.

Apologies, one hour limit on editing passed, I will remember for next time.

[Foolsgo1d]

A bank run requires a large number of people and coordinating that would be a problem in itself, let alone the majority of people who dont even watch the news or anything related to current events.

Crashing banks will also lead to worse things down the road and there is 1 thing in this world which you dont fuck with without repercussions and that is peoples money.

[Praetor Lupus]

I get the impression the yellow vest movement has moved well on from taxes and is now a general anti-EU movement.

[url=https://twitter.com/PrisonPlanet/status/1084183940682919936][/url]

Pass me the fucking popcorn.

[Design Engineer]

Wonder what the long term implications for French politics and society will be.

I'm thinking France will become a more right-wing and nationalist culture. If Macron resigns or when he leaves, a more conservative coalition could do very well in the next election. We will likely see France's policies shift to the right on immigration as well. I wish France was a gun-friendly country like the US, but most western European countries are so restrictive when it comes to firearms.

[MrLemon]

(01-12-2019 11:54 AM)Syberpunk Wrote:  

(01-12-2019 11:42 AM)redpillage Wrote:  

@Syberpunk LEARN HOW TO SIZE IMAGES - you're blowing up the page.

Apologies, one hour limit on editing passed, I will remember for next time.

Haha. It took me forever to learn how to resize images. I technologically incompetant.

But is a great photo!

[BaatumMania]

How is it right-wing? Most of the interviewed people so far have held working class jobs. There's some anti-EU sentiment. But like the Brexit crowd nobody is pointing the finger at the real leeches such as Middle Eastern people that are 50% unemployed (and the employed ones have McJobs that likely make incomes too low to pay taxes).


Only thing I'm seeing being brewed across Europe seems to be latent Marxism. Except Marxism is a bunch of crap that doesn't override economic realities: France is old, too many leeches and doesn't make anything people want (who even buys Renault outside of France anymore?).

So life is tough and bullshit. I'm sure it will get better once productivity reaches a zenith (imagine robots doing everything for almost free except mineral cost and pennies of electricity) but who knows how far away that is.

[ChicagoFire]

Holy Shit! This genius expects people to read a 2300 word letter in the age of Instagram, Twitter, and Snapchat??!! PJW knows how to communicate to the younger generation which is something Macron is years (if ever) from getting to. Way to dig your grave.

https://www.zerohedge.com/news/2019-01-1...-solutions

[Once Was Not]

France is getting exactly what they just voted for. What the fuck did they expect to happen? Let's see if they show up when it counts next time, or if they're simply content to throw temper tantrums and riot/strike as usual.

Time is running out.

[kamoz]

(01-12-2019 11:42 AM)redpillage Wrote:  

@Syberpunk LEARN HOW TO SIZE IMAGES - you're blowing up the page.

It was so good it was worth it