So is anyone planning to join Eric Cantona et al on 8th December to bring down the banks?

[HerBeatitude]

What is he on about? I don't know enough about the world banking system to know if this works. I've also just paid in a big cheque from the Inland Revenue.

[[http://www.youtube.com/watch?v=-Uop5R7E314&NR=1 Eric Cantona plannign the Revolution]

Sorry, link is

Interesting!

His big idea is that we all go into our banks on the 8th of December and withdraw all of our money, which will make their systems collapse.

Much as I hate what the banks and (some) of the bankers have done to our economy, I'm not entirely sure that Monsieur Cantona has fully thought through his idea . Right sentiment though...

Apart from the fact that he's looking slightly crazed these days, I think he is right - banks probably don't have the money to hand, with all their trading in Futures and electro-money - I think it would cause them BIG problems if everyone did it. But not enough people would do it, and anyone who decided not to might lose whatever money they had in the bank as it collapses, which wouldn't be fair on them!

I would love to bring the banks of the world down but I don't want to see the little people get hurt in the process. Look what happened to NOrthern Rock when everyone got nervous and tried to take their money out. The Govt can't afford to bail out all the banks!

then the country's banks would have to go and get loans from bigger bankers, like Ireland has done, and the country would be in an even worse position.

He obviously hasn't banked in the UK. You cannot take out more than 3 hundred without ordering in advance. It may be higher in some banks but they have thought that one out. Nice try though.

Knob head - did one of the seagulls chasing his boat shit in his eye and give him some sort of brain muddling bug?

"I would love to see the banks of the world brought down"

given that a lotta thought then

wow, jodevizes, is that true?

Anyway they would just close the banks and declare an emergency. If that didn't sort things out, it wouldn't be long before a dictatorship took over.

Why would anyone want to see the banks collapse, it would lead to economic meltdown thats why the Government recapitalised them 2-3 years ago

Thumbplum -

"banks probably don't have the money to hand, with all their trading in Futures and electro-money"

If you want to guarantee your money is to hand - you should rent a safety deposit box. Or put it under the mattress. Banks don't offer 'free banking' for love. They need to turn a profit on your savings, which means investing it.

Anyway free banking may disappear in the future, if banks separate out into retail and the (so called) casino banks.

Then most of us will have to pay the banks to look after and process our money. And products such as fixed rate mortgages and high interest savings accounts will only be available to the very rich, like Cantona!

jackstarbright - Banks in Australia don't offer free banking full stop if they can avoid it - banking here is full of hidden and not-so-hidden charges.

I'm not entirely sure how to take the tone of the rest of your post - it could be said to be quite patronising because I do actually know that, and that's why I posted what I did - I fully understand that banks operate by investing money etc., which is why they wouldn't have enough cash available to give everyone who banks with them their money if they asked for it. I didn't, I believe, suggest that this was a bad thing, did I?

jodevizes - that's not strictly true - I have closed accounts in banks and withdrawn all the money in one go without prior warning (as recently as January this year) - admittedly it was only a couple of thousand but it's certainly more than £300.

I think Jo is getting mixed up with ATM withdrawals. I 've certainly cashed cheques for several thousands to pay " cash transactions".

Whole idea is bollox though.

So you withdraw your money erm what about DD's
etc. The only thing it will do is cause soome inconvenience to Branches as they request more cash from head office branch.