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Thursday, January 10, 2019

Watching this Protest



I'm keeping an eye on this French protest. The yellow vest protesters want everyone to withdraw their money from the banks setting off a bank run. This could be interesting if it gets any traction.

This is something I've thought about for years. It would be one way to hit the rich class where it hurts. Sure, the little guys get hurt too, but they've been getting hurt for years. This just spreads the pain around. Seems to me like it would be the fastest way to take the system down. No idea how the French officials will deal with this threat.

In this country one of the big issues young people face is massive college debt. Debt has a huge effect on their lives. They have to stay focused on making those payments. Forget about doing something out of love. It's all about the money. Their high debt burdens keep them from living normal lives. They can't buy houses or even afford to get married and have children.

If they would all default on their debt at the same time it would definitely shock the system. More and more young people cannot pay their loans as it is. Imagine if nobody paid them? Student debt is a type of debt slavery as it's a type of debt that cannot be cleared during a bankruptcy.

There's an argument that young people took on that debt knowing full well they'd have to pay it back. True, but they were led to believe they'd be paying it back with high paying jobs. Too many people with college degrees are waiting tables and flipping burgers. So far the powers that be have convinced the majority of them that it's their fault and not a fault of the changing economy. Many, however, have begun to suspect they've been sold a bill of goods.

So I'm really keeping an eye out on what happens in France. My guess is that the French authorities will pull out all the stops to prevent a bank run. We shall see. Interesting times.

-Sixbears

11 comments:

  1. For the most part, I'm with the protesters, except for any destruction. My concern is that a revolution maybe be exactly what the NWO wants, so they can send in the UN troops and install a new government of their own choosing.

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    1. That only works as long as they can pay the troops. Cut the financial legs out from a government and it falls apart pretty quickly.

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    2. Do you mean the EU troops that are already there? With full loadouts of non-riot fighting equipment?

      The revolution can be gunned down as long as, as Sixbears says, the troops get paid.

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  2. At the first indication of bank runs, the banks will close the doors, or limit withdrawals. We can't win, it seems.

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    1. They've got to reopen them sometimes. If not, the protestors win. Bank runs have been known to fire right back up as soon as the banks open. Unless big changes are made, people are still going to react.

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  3. What you are witnessing with the yellow vest protest in France, and now other parts of Europe, is raw failed social engineering. It is what happens when socialists run out of other people's money. France, as most of Europe has always been a welfare state, take from those that produce to give to the ones that don't and buy their complacency. Politicians buying votes by handing out trinkets that only keep citizens subjugated. The yellow vests have finally figured it out and they are pissed off. Arguing for the failure of "the rich class" is nothing more than class envy and hoping for the failure of society. Who do you think employs the working class? Slick Willie tired that with his tax on luxury items. And who got laid off when "rich folks" stopped buying luxury boats and jets? Us peons that built them and worked on them.

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    1. Slick Willie certainly killed the boating industry.

      What goes in in France might also spread to other parts of Europe. However, I don't see it spreading to the Socialist Scandinavian countries. Different culture. There's more of a "we are all in this together" vibe to those places.

      No idea if and how any of this will translate across the pond. It is interesting to watch.

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  4. And then there is this:
    What They're Not Telling You About the Yellow Vests
    https://youtu.be/MDAjEaFPnwY

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    1. Interesting video. Just wait until the police realize they are part of the working class.

      By the way, something like 60% of France's traffic cams have been destroyed. Everybody hates them.

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  5. It should be interesting to see the outcome....that's for sure!

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