The EyeOpener Report- How to Boycott Wall Street

BFP VideoThe politicians, the media, the financiers and the other supporters of the status quo are not particularly threatened by mass political movements, marches on Washington, or demands for government to do something about the situation. But what they do live in mortal fear of is that people will start taking the matters into their own hands and doing the only thing that it is within our direct and immediate power to do: to withdraw our money from the financial web that they have spun around us. The idea of a Wall Street boycott is neither new nor radical. It has been advocated many times before, including in the wake of the bailout when, hoping to capitalize on public anger at the bankster class that was so clearly emerging as the real power in Washington, a group called Move Your Money emerged urging the public to take their money out of the Wall Street institutions and into local credit unions and savings and loans.

Find out more about how to take our power back from Wall Street in this week's EyeOpener Report with James Corbett.

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Comments

  1. Great piece. I left BoA and have had my savings in a credit union for almost 2 years now. I hope at some point it is freely released to all so I can share it with my non-BFP friends. My one quibble is that it’s incorrect to say OWS demise was due to Dem party co-option… that just wasn’t the case… after co-option efforts failed it was very violently squelched by a coordinated federal law enforcement effort.

  2. Thanks Sibel & James. I truly believe to effect and diminish the Wall Street banksters had to start with pulling out of all so-called Free Trade Agreements. Then follow up with getting our money out of privatized hands. This would have hit the Banksters in their pockets.

  3. Yeah, there is no difference between Left and Right, Nazism and Communism, Ayn Rand and Trotsky, Daughters of the American Revolution and Black Panthers, white and black. Millions of people who made revolutions, fought in wars and died in concentration camps just didn’t get it. All we need for people’s capitalism aka universal happiness and good morals is to move “our wealth” (what wealth?!) from Wells Fargo to our local State Employees’ Credit Union. This is what happens when our well-meaning young men take too many courses in “deconstruction” and “postmodernism” with our English departments at our universities run by the boards of trustees from WF, BoA, and JPM. Amen.

  4. Rose Mary says:

    “The common enemy” is defined as “financial voltures” and “crony and paid for government”.
    🙁

    Fintan Dunne (disinformation agent) uses terms like “crony capitalism” and “NWO”.

    The first is probably meant to be true, the latter is meant to be false -> Dunne wants us to believe it is about “crony capitalism” and “NWO”.

    And sure there will be those who applauds “crony capitalism” and “NWO” as analysis. As long as we believe the world is run by “crony capitalism” and “NWO” is a plan for “a global free market economy without borders” (= roughly Wikipedia’s definition) George Soros will be satisfied.

    We are dying of cheap food, but mosts of us want more cheap food = i.e. dying faster.

  5. Sibel, apparently I cannot emphasize enough the role that our central bank(the Federal Reserve System)plays–especially with the big Wall St. banks!
    Both James and Ms. Austin-Fitts know this. Her suggestions, most disappointingly, are at the same level as rearranging the deck chairs on the Titanic as it’s about to sink.
    The problem has to do with the creation and control of what we call MONEY! At this moment, the Fed and the major banks and major world corporations are awash with money! They have so much that they need to pay people to invest it for them. The top .001% is drowning in money! The Fed alone pumps in 85 Billion dollars a month and it is basically counterfeit!–Fiat money. They loan this stuff to the biggest Wall St banks @ 0% interest and buy back toxic assets of every stripe under the sun from these massive mega-banks, including many foreign banks and pay these fraudsters interest on the toxic crap!.
    I could go on and on, since I’ve been researching this global mounting disaster for about 5 years now. My point being that moving around your money does little to phase Wall St. Does Ms. Austin-Fitts not realize that some70% or so of Americans are living paycheck to paycheck? Statements starting off by saying “We must do such and such…” are worthless to me. What CAN be done?
    An entire global collapse is coming because of massive, private, non-transparent central banks just simply entering digits(i., e., “printing money), creating money from nothing AND THE 99% never see/feel/ or have any of it! There are no public work projects! They do not care about us and never did. The central bank of England has been doing this odious, insidious hustle for over 3 centuries!

    Check out PLEASE, the State Bank of North Dakota. No bankster terrorists there. No massive bonuses there. No Fed bailout for them in 2008. Why? Because it is run by State employees and although it does use “fractional reserves”, it uses the interest $$ to plow back into work projects for the state and it is TRANSPARENT.
    Please consider interviewing(Peter B. and you) Max Keiser or his wife Stacy Herbert, regarding the Wall St Mess. Paul Craig Roberts knows what I’m talking about, or talk with Mitch Feierstein–recent author of Planet Ponzi.

    An afterthought, if we all stopped eating meat and stopped watching TV, it would do more damage to Wall St. than where we place our paper worthless currency. Just sayin. And I disagree with James about massive amounts of protesters –millions!-in the street. I saw it in the 60s. It scared the hell out of Nixon!

  6. praxisseizure says:

    It is indeed a matter of reforming ourselves.
    Investment has been given a bad name, as bad or worse even than gambling.

    It’s really simple and we all know it, but are we willing to sacrifice certain conveniences to which we have been accustomed to achieve it?

    The only questions are are we willing to do it and are we willing to also poke ‘the beast’ in the eye and ride the uncomfortable ride that entails?

    In the end, it won’t matter either way so hop to it!

  7. tonywicher says:

    I closed my account with JP Morgan Chase about three years ago and put my money (such as it is) in a local credit union. I feel good about it, but I have no illusions that this is how we are going to beat JP Morgan. Sorry, but there are no local solutions to our national and global economic problems, there are only national and global solutions. I agree with netter. I love Corbett’s coverage of terrorism and false flag events, but I wish he would learn some real economics. He does not understand that the Roosevelt’s banking regulation known as the Glass-Steagall law brought us out of the Wall-Street created Great Depression and produced the most powerful economy the world has ever known. He does not understand that this fundamental basis of our economy was undermined by Wall Street for more than 20 years, led by Alan Greenspan, and was completely repealed in 1999, allowing Wall Street carte blanche to rob the country blind, and that is why we are now in another Great Depression, nothing less, that began with the crash of 2007-2008. He does not understand that the only way to deal with Wall Street is to restore Glass-Steagall in its most ironclad form. He does not understand that if this is not done, there will be another crash that will destroy what is left of our economy. He does not understand that restoring Glass-Steagall will bankrupt Wall Street, cut off their financial balls and put them in jail where they belong, while saving what is left of the real economy. He has apparently never read Alexander Hamilton, probably the greatest economic genius that ever lived, who literally forged the Union through the establishment of the First Bank of the United States, which created credit for the economic development of the nation. What each of us can do as individuals is to join the fight to restore Glass-Steagall. I strongly recommend to James Corbett that he read the Federalist Papers, Hamilton’s Report on Manufactures to refresh himself on the ideas and principles on which this country has founded. Then he should visit Larouchepac.com, where the fight for Glass-Steagall is being organized, and a vast amount of information on economics is available.

  8. Rose Mary says:

    My sources tells they are running the economy, not that the economy is running them. They created the derivative market – for it to crash according (source: Linsay Williams). They transferred technology and capital to China, they outsourced millions of jobs from US. They created the subprime mortgage bubble.

    They are preparing themselves for the economy to crash. They control economic growth by money injections, and they also control recessions. It is on their demand. Since what is happening is planned, they mostly know what direction the market will move -> more money for them.

    And also: they are infiltrating alternative media so that there will be no online consensus about the truth.

  9. Rose Mary says:

    After listening to first 30 minutes: “James Corbett Interview : Anatomy of the New World Order”
    http://www.youtube.com/watch?v=F1FmOLfNPhY Corbett believes there is very little “conspiracy” involved, all it is in plain sight mostly. NWO is “a system of control”, glued together by “ideology” (this gives us clues about what kind of “action” Corbett will suggest)

    The good thing about discussing “action” is – all “belief” has to be clarified. Answers like “I think there are three definitions here”, and “all of them may have some truth” … is not good enough.

    (I doubt Corbett ever have talked about free energy. But logically he will not believe free energy exists because that will be such a gigantum conspiracy)

  10. HAL 9000 says:

    netter says:
    “All we need for people’s capitalism aka universal happiness and good morals is to move “our wealth” (what wealth?!) from Wells Fargo to our local State Employees’ Credit Union ”

    Your are using a straw man to try to discredit the suggestion made in the video. Neither Corbett nor Austin-Fitts said this is “all we need” to do. Both emphasized this was but one small piece of the solution, a first step.

    ron syas:
    “My point being that moving around your money does little to phase Wall St. Does Ms. Austin-Fitts not realize that some70% or so of Americans are living paycheck to paycheck? Statements starting off by saying “We must do such and such…” are worthless to me. ”

    “Worthless”? That’s not how Bank of America viewed it in St. Louis.

    “An afterthought, if we all stopped eating meat and stopped watching TV, it would do more damage to Wall St. than where we place our paper worthless currency.”

    Perhaps, but why not do all three? Corbett and Fitts said moving your money out of the money center banks is just a first step. I’m all for exploring the Bank of ND model, but we can do that and move deposits out of Wall Street banks at the same time. Moreover, the Bank of ND, as you describe it briefly above, is not much different than my credit union, which plows its profits into building more branches (work projects). Altough I would prefer that the net profits be returned to members in cash or lower borrowing rates, I’d still rather be in the CU than Wall Street.

    tonywicher says:
    “Sorry, but there are no local solutions to our national and global economic problems, there are only national and global solutions. ”

    I strongly disagree. You have argued here at BFP about the insidious power of British banking in North America before and after the American revolution. Well, that revolution began as a local solution – geographically separated pockets of resistance. I disagree strongly as well with your advocacy for centralized power. Even so, I’m not opposed to your advocacy for restoring Glass-Steagall. Despite our differences, tony, I think we share many common goals. So, in the interest of our common cause, I WILL contact my representatives in D.C. this week to express my support for the bill you have mentioned.

    There is no single or “big” step we can take to solve this mess. And if we don’t take the small steps toward resolution because they won’t resolve the whole mess, then what progress will be made? Moreover, we are never going to get unanimous agreement on the who, what, and why of this mess. While the debate over the who, what and why is healthy and should continue, in the meantime, I hope we all take the big or little steps, locally and otherwise, that we can to get us out of this mess. The suggestion in this video is simple and accessible. I suspect BFP readers did it long time ago. I don’t see any reason to ridicule or object to this suggestion. As a long-time member (nuisance) at BFP, I think we are seeing BFP moving toward adding a “solutions” component to its original watchdog mission. I vote that we encourage this new mission as much as we can.

    If we can’t find and take the common ground, how will we ever take the high ground?

    That’s my two-cents (and it’s not worth a penny more).

  11. tonywicher says:

    Hal, you are a fine fellow, and thank you very much for calling your representatives to support Glass-Steagall. Before doing so, however, I really recommend that you visit the LaRouchePAC site and understand the history of Glass-Steagall and why, as I believe, this is the decisive battle in the war on Wall Street. When you then call your representatives, you will be loaded for bear. LaRouchePAC is an elite core of political organizers who are leading the fight. You don’t have to agree with them about everything (I don’t), just their major objective, restoring Glass-Steagall. Working with such an organization multiplies your power over what you could otherwise do as an individual.

    Let me modify my previous statement. I said I myself put my money in a local credit union. I join Corbett in recommending that everybody do the same. However, as ron points out, I like most other people am living paycheck to paycheck, so “my money” doesn’t amount to squat. I am 67 and about to be retired whether I like it or not. I have no pension and no savings, and I am relying on Social Security for all my income when this happens. I am concerned that my Social Security, along with everybody else’s, will go the way of the Detroit city pensions in the next big crash if Glass-Steagall is not passed very soon. The ruling oligarchy has no use for poor old people and intends to let them die as part of their population reduction program. I can’t think of a local solution for this. It’s a national issue. At the same time, you are surely right that the American Revolution began with geographically separated pockets of resistance. A lot of people were sick of British rule and began to take actions of various sorts, such as the Boston Tea Party, for example. But if these disparate pockets of resistance had not organized into a cohesive union with an army and a commander named Washington, the British would have hung every one of them. After beating the British militarily, they tried to live under the Articles of Confederation, but after a few years they found that this level of organization was still insufficient for economic, political and military reasons. Read the Federalist Papers to understand why the Federal government was formed. So yes, we are now in the “isolated pockets of resistance” stage of the second American Revolution. Now, as I see it, an army is beginning to form that organizes and spearheads these isolated pockets, and it is LaRouchePAC that is organizing and leading this army, the army of the Revolution. The way I see it, I have joined this army, and my commander has defined the mission as “Glass-Steagall or die”. As Nathan Hale said, I regret I have only one life to give for my country. But unlike the Light Brigade, mine IS to reason why. The better one understands the reasons why this particular battle was chosen, the more powerfully one can fight to win it.

  12. HAL 9000 Says:

    Your are using a straw man to try to discredit the suggestion made in the video. Neither Corbett nor Austin-Fitts said this is “all we need” to do. Both emphasized this was but one small piece of the solution, a first step.>>

    This is fair enough, I can take it… with one small correction: “a silly first step.”

    Eagerly waiting for second, third, and forth from these fine strategists.

  13. Rose Mary says:

    –> An Aussie Vietnam movie. The Assies learned before being sent to Vietnam: “When you hit something with your boot and your hear a click, that is a Vietcong personal mine. If you lift your boot the mine will explode .

    That was the theory they learned. What to do they did not learn.

  14. Rose Mary says:

    The action plan is based on an “analysis”. Corbett is a communicator, not an analyst. He is missing 1) who the elite are 2) their history – the killing of 100 mill. African according to dr. Rima Leibow (whatever that number is, it is millions) 3) their genocidal intent. It all becomes 1) no elite but corporatism/fascism 2) no history because no elite 3) no agenda.

    GMO is poison for us: http://www.youtube.com/watch?v=joweZ6uM5iY&feature=c4-overview-vl&list=PL7FA553761682E628 (video 4:30 – 8:50 = false science that confirms Dr. Rima points)

    His analysis vs. FBI – Hoover aquired enormous personal power. When he died his personal archives – for blackmailing – was burned -> end of story (or all bureaucracies will try to expand their power -> danger of totalitarian state) (no elite here)

  15. Sibel,
    As a sort of follow-up to my 8-6-13 comment , check out James Corbett’s interview with Mr. Smith, 8-9-13…especially at about 16:00 and 22:00. The later remark(22:00) by James’ regular guest is not cynical, but mature and real.
    I am so thankful for the caliber of people you and James bring forth. Strange times are here! And within weeks to months, drones and military helicopters in our sky could stop the huge demonstrations I once knew. But I know you will keep punching no matter what!

  16. I’ve been using a credit union for banking, for 30 years. My paycheck is direct deposited into my checking and I maintain a modest savings account. However, the bulk of my money is in the form of IRAs and a 401K.

    If I move the IRAs to my credit union, and rollover as much of my 401K as is eligible, the only parties to suffer will be Fidelity, Etrade, and me, because I lose my ability to direct how my money is invested. My credit union will most likely invest most of my money in managed mutual funds, so “Wall Street” gets it back, after some “churn” involved in liquidating my original managed fund positions so the cash could be transferred to my credit union, and the credit union buying back in with my money. “In kind” transactions are not possible when transferring IRAs to a credit union, to the best of my knowledge.

    So what have I accomplished other than reducing my ability to direct how my money is invested? If the credit unions actually had some way to keep their depositors’ money away from Wall Street altogether, they would have been shut down long ago.

    If everything I just said is wrong, and moving our investment funds to a credit union inflicts a bleeding wound on Wall Street, you can be sure they will come after that money with a vengeance.

    Even if everything I said is wrong and Wall Street does not use the power of government and regulation to come after our money, then greed itself will draw the money back. When equities get cheap enough, who of us will not re-fund that Etrade account and try to make a killing?

    As Pogo said, “We have seen the enemy, and he is us.”

  17. Rose Mary says:

    My feeling is the big (globalist) banks are in trouble (leverage 20 : 1 or worse), but not the small banks. Are the pension funds being robbed? Who knows.

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