Thread: Operation Cash Out

It really doesn't matter if they printed the money or not. If all the banks collapsed at once from a major run, and the government tried to bail them all out with hyper inflation, that would then destroy the economy and the banking system any way.

I was with a credit union since I first opened a bank account. Their security is horrible though, and they're the only one I know of here.
I close my bank account without giving any personal information or identification, and everything I had to fill out was on my card.
So I could have stolen someone's card, closed their account and taken all their money.

If I could, I'd be with a credit union now. Although I am at least with a local bank.

Anyway, I'm really looking forward to this taken off 100%, and I think it will happen, given that they're still there after a month or something.

Go PEOPLE!

Surprising to see people champion the cause of economic self-destruction.

People are being arrested for trying to close bank accounts hur dur.

No.

Originally Posted by Photolysis

Surprising to see people champion the cause of economic self-destruction.

Depends on what kind of economic self-destruction you're referring to. We've watched this country's economy turn into a ponzi scheme. This is our only chance to save it.

Originally Posted by Xei

People are being arrested for trying to close bank accounts hur dur.

No.

Sorry to offend you, Fanny

Originally Posted by Omnis Dei

That's why the federal government came up with the bill of rights

Yea they are really great about enforcing these restrictions upon themselves.

Originally Posted by Alric

It really doesn't matter if they printed the money or not. If all the banks collapsed at once from a major run, and the government tried to bail them all out with hyper inflation, that would then destroy the economy and the banking system any way.

Well that just goes back to my comment (I think I made it in here) about them just setting up a new monetary base.

It's still November 5th: http://www.facebook.com/event.php?eid=281139538577206

LOL it says "something went wrong, we're working to get this fixed"?

Originally Posted by ninja9578

It's still November 5th: http://www.facebook.com/event.php?eid=281139538577206

Somehow when i saw the operation chas back page I swear it said October 17th. Meh. Sooner the better.

In fact, here's a post urging you to withdraw asap

http://opcashback.wordpress.com/2011...ng-opcashback/

I can't do anything but laugh at this thread.

I've never really had problems with my bank. I've been with Wells Fargo since 2003 and I have this credit card I opened up with them after I turned 18 and is the only credit card I ever applied for.

The problem I have with this company is that they are happy to announce these new apps or programs they have almost every time I log on to my online account, and they email me with the occasional offer and letting me know whenever my statement for the month is ready to check out. However, I was late once for one of my payments (which I know is my fault) and it completely went unheard of until I looked at my statement and it said $50 penalty for late payment. I wish I could have gotten a notice or something, but it just came up as a surprise when I looked at my statement. Plus $50 seems like a lot to not send me a email or something.

Everyday I think about switching to a credit union. Maybe November 5th will be the day. I should probably redeem my rewards first

Originally Posted by greenhavoc

I can't do anything but laugh at this thread.

Care to elaborate?

Originally Posted by louie54

I've never really had problems with my bank. I've been with Wells Fargo since 2003 and I have this credit card I opened up with them after I turned 18 and is the only credit card I ever applied for.

The problem I have with this company is that they are happy to announce these new apps or programs they have almost every time I log on to my online account, and they email me with the occasional offer and letting me know whenever my statement for the month is ready to check out. However, I was late once for one of my payments (which I know is my fault) and it completely went unheard of until I looked at my statement and it said $50 penalty for late payment. I wish I could have gotten a notice or something, but it just came up as a surprise when I looked at my statement. Plus $50 seems like a lot to not send me a email or something.

Everyday I think about switching to a credit union. Maybe November 5th will be the day. I should probably redeem my rewards first



Care to elaborate?

Wells Fargo treated me just fine, I dropped them for their unethical business practices, not because I personally felt wronged by them.

Also don't feed the trolls.

operation cash out is not an effective or good idea. The banks have a limit on what you can take out anyway. And there isn't enough physical cash for the money that people are suppose to have.

The problem is not banking the money. The problem starts when the currency is not backed by any value.

If you have inflation. You know the currency is is not being backed by value and is being fradulent.

Um, there is no limit on what you can take out if you close your bank account. You take all your money. And if they don't have it there, they HAVE to arrange to have it brought to you.

Originally Posted by louie54

it completely went unheard of until I looked at my statement and it said $50 penalty for late payment. I wish I could have gotten a notice or something, but it just came up as a surprise when I looked at my statement. Plus $50 seems like a lot to not send me a email or something.

And that's only $50. Imagine what it would be like when you actually start buying expensive stuff. You could get $1000's of dollars of fees by surprise. That shouldn't be able to happen.
My philosophy is to only buy what you already have the money for. That's why I use a debit card.

Originally Posted by tommo

And that's only $50. Imagine what it would be like when you actually start buying expensive stuff. You could get $1000's of dollars of fees by surprise. That shouldn't be able to happen.
My philosophy is to only buy what you already have the money for. That's why I use a debit card.

You're right. Though I didn't buy anything I couldn't afford. I just use it about once or twice a month to build my credit and in this case, I either forgot to make the payment or I was too lazy

It could have been worse though, like you said.

> Implying any of the kids planning to participate in 'operation cash out' have any cash to take out.

Originally Posted by tommo

Um, there is no limit on what you can take out if you close your bank account. You take all your money. And if they don't have it there, they HAVE to arrange to have it brought to you.

Not if the bank fails (though in the UK you can get the government to compensate you for the first £85K per bank).

My philosophy is to only buy what you already have the money for. That's why I use a debit card.

Credit cards can be useful in certain cases, as Mastercard/Visa/American Express are accepted all around the world, whereas debit cards tend to work at a more national/regional level. That said, with the increasing availability of Visa debit cards (which tie into the same system as a Visa credit card) means they're not required so much.

Still, Credit Cards typically offer you much greater consumer protection in the event of fraudulent transactions, services gone wrong, etc, because it's not your money but the bank lending you credit so they take the risk.

Not purchasing what you can't afford is certainly an admirable stance though, and one I live by myself.

Originally Posted by Photolysis

Not if the bank fails (though in the UK you can get the government to compensate you for the first £85K per bank).

Lol, I think it's obvious, as Xei hyperbolically pointed out, these people don't have enough money to bankrupt the banks by withdrawing all their funds.

Originally Posted by Photolysis

Still, Credit Cards typically offer you much greater consumer protection in the event of fraudulent transactions, services gone wrong, etc, because it's not your money but the bank lending you credit so they take the risk.

Hadn't thought about that. I just use paypal online. And I also just bought a prepaid credit card today, which is a lot safer since if you are hacked or have your number stolen, they can only use the small amount on your card. I only bought it to use for places which don't offer paypal payment method.

Originally Posted by Photolysis

Not purchasing what you can't afford is certainly an admirable stance though, and one I live by myself.

I don't think it's admirable. Just smart. Although I have been informed recently that it's difficult to get a home loan or something similar without having a credit history. And I don't know if I'd be able to buy a home outright haha Maybe I will though, as I plan to get somewhere cheap in the middle of nowhere.

Originally Posted by Omnis Dei

Tomorrow is Operation Cash Out, an organized mass bank account closing. Please show your support for the 99% by closing your bank account and switching to a credit union.

No I love the banks