Move Your Money (MYM)

It's Our Money

NoMore — Fri, 14 Oct 2011 19:15:32 -0600

We the People of the United States of America should take back all of our money from all major banks, close all our accounts with these banks, and open new accounts with neighborhood banks and credit unions. Fight fire with fire. The 1% have proven time and time again that money is all they care about. The lives of the people of this once great country mean nothing to them.

National Monopoly Day

allmeansnecessary — Fri, 30 Dec 2011 02:02:16 -0700

I want to propose a National Monopoly Day be set up. I suggest summer time so we can occupy in comfort and have massive Monopoly and Anti- Monopoly games to highlight the moving of our money from big banks, I am writing a story about this action and have a check list to organize it.
Please pass this on if you will. http://allmeansnecessary.wordpress.com/

Bail out of your Bank

AZmama — Sat, 29 Oct 2011 08:24:54 -0600

Please watch the videos within the article of the pasted link.
http://www.washingtonsblog.com/2011/10/big-banks-refuse-to-let-people-close-accounts.html

In light of this I STILL support everyone with a pulse who is a member of the BIG Banks to close your accounts. But remember why you are closing them.
To Stop Making Them Money. Yes, you. You are the one making them money. They own your money as long as it is in there. They make interest on every cent for every second. You need to realize when they claim right to refusal of service and force arrests YOU MAKE THEM money.
I suggest the following:
How to Peacefully Protest and Stop making THEM money
Open your new account first. Choose your Credit Union or Community Bank carefully. Research them. How community minded are they?
Make sure to LEAVE money in bank checking accounts for any un-cleared transactions.
Make loan payments on time. The point is to Stop Making Them any more Money. You will be charged out the WAZOO if you don’t pay your loans or bounce your check book.
Change all your automatic deposits or auto Bill Pay to your new account BEFORE You go to close your old account

Start withdrawing your cash from ATMS or get cash back on your debit transactions. Banks make interest EVERY SECOND on EVERY CENT. Reduce that amount with every transaction. There is a limit to how many Savings withdrawl/transactions can be made in a month for FREE. Check with your bank and ask them how many free Savings withdraws. You don’t have to tell them your name, just call them and ask. If you move your savings to your checking that counts as one as well. BEFORE you close your account get out as much as you CAN. Now they are making less money.

Talk to your new Credit Union or Community Bank about transferring any credit cards, personal, auto, house and bizness loans to them. Many will be happy to do just that.
Peacefully and individually Go to the BANK and close your account. The point is to get your account closed quickly so as to STOP Making Them Money.
Be prepared to be stalled. They are thinking they are still making money on you. But if you have taken the bulk of it, they have less of it. They have no idea WHO you are, or how much money you have. It doesn’t matter, they make money every second. Don’t go with a band or parade. I Love a parade but not this protest. We can shame them later. Just get your money out as quickly and quietly as possible. The point is to STOP MAKING THEM MONEY. That is the protest. The longer they hold your money the MORE MONEY THEY MAKE.
STOP MAKING THEM MONEY.
December they will cry and we will laugh.

Bank Transfer Day is Nov 5th: Transfer you money to a credit union by that date.

thkthe99 — Wed, 26 Oct 2011 21:00:35 -0600

Bank Transfer Day is November 5, 2011. Everyone move your money from your bank to a credit union by that date. This speech by Victoria on 10/15.

Can we not control big money and the banks by having the 99% withdraw all its money from all banks?

Lindamorton56 — Wed, 12 Oct 2011 21:59:32 -0600

Can we not control Wall Street if the 99% withdraws its investments?

Action: OWS National Bank

PoorRichard — Wed, 19 Oct 2011 04:06:47 -0600

I suggest that the OWS General Assembly tap some NYC expertise and form a National Bank asap and create an OWS State-Bank-in-a-box kit that can be used by all the state and local OWS affiliates. All such banks can borrow from the FED many multiples of their deposited assets. We the 99% can then transfer our funds and our debts to our own banks. Please pass this along. ~PR

Why a mass withdrawal / termination of major bank accounts is a bad idea

Bravery — Wed, 12 Oct 2011 14:05:39 -0600

Correct me if I'm wrong (in which case I hope I am)

But banks make a business by making loans out to people with interest. Banks get that loaning money from savings accounts they also have. Because the money comes from the same pool, people who suddenly withdraw all their money from the savings account is not guaranteed the full amount because some when out as loans to other people. However, the banks are obligated by the fed to have that amount ready. This is where the federal reserve comes in. The reserve 'bails out' the bank in danger because the money is not available, prints paper value money, allowing the bank to give the person who made the withdraw his/her money back. However, the money being printed out is nothing but paper, and the value decreases as there's more (worthless) money in circulation in the country.

There are two possible outcomes if this is true.
1. Banks get bailed out by the federal reserve, inflation of the dollar increases, another bank buys the failed bank because its job is to collect the debt on people that have loans by the previous bank. National debt is increased, taxes are raised to collect the debt (in which everyone pays for, not only the person who made the loan).

2. Banks get bailed out by the federal reserve, inflation of the dollar increases, another bank buys the failed bank because its job is to collect the debt on people that have loans by the previous bank. National debt is increased, taxes are raised to collect the debt (in which everyone pays for, not only the person who made the loan). Congress wakes up and puts stricter regulations on banks to separate pools of money the bank may loan to people, banks start charging people for starting savings accounts rather than offering them interest.

A "Walk" on the banks

danj3ris — Mon, 03 Oct 2011 10:11:30 -0600

I give full support to these protesters, who are out there on the front lines making sure their voices are heard. If I had the means, I would be out there too, and I'm sure a number of us "armchair protesters" feel the same way. So I make a suggestion, which undoubtedly will garner a polarized response..

This protest is about the corruption of those in control of the money. This protest is about how they are so powerful that they, in essence, can dictate not only the course of their lives, but the lives of the 99% as well. If the customers of a bank are customers only because they decide to keep their money there, hit them where it hurts, and withdraw YOUR MONEY. Close YOUR ACCOUNTS. At least on that level, you can make your voice heard.

The cascading effect will be as follows: Banks have less power, banks have less business, banks need a bailout, Government provides the bailout. Who wants to invest in a bank that needs help to stay open? I sure as hell don't. And neither will many more.

Hence the 99% will grow, and those of us who felt that protesting was a bit "daft", or "not my speed", or "I'm too old for this", will simply express mistrust in their bank with THEIR MONEY. More complete withdrawal. More accounts closed.

Will this have a cascading effect in other ways? Absolutely. But it's YOUR MONEY. You could care less if THEY need it. You're trying to protest here. You want your actions to have an effect. The police have no problem arresting and ticketing people by the hundreds. That is what they are paid to do. Wall street and the banks aren't batting an eye right now. They could care less. So I'm suggesting you PEACEFULLY, WITHOUT CHANTING, enter your bank in groups of ten to fifteen people at a time, and casually, one by one, end your business relationship with them. If for some reason they give you a hassle, you now have an even greater reason to not want to bank with them. DO NOT FIGHT. Simply go to the next branch and attempt it again. If it fails again, again DO NOT FIGHT. Keep a record of the branches that hassled you, and try it again tomorrow. You can either place your money in a mom and pop bank, but I strongly suggest you keep it at your dwelling or in a lockbox for the time being. DO NOT keep it with you. You become a target and in case of your arrest It might be confiscated.

Do this now. The last time I checked, you can't get arrested for closing your bank account.

Yet.