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[Economic]
Yellow vest protesters plan massive run on French banks
by News Corp Australia Network
Posted January 10, 2019

yellow vests are now targeting the system's achilles heelFurious yellow vests are preparing to withdraw all their euros in a massive run on French banks, as the violent protests spill over to Britain.

If a bank run succeeds, the yellow vests could cause a complete failure of France’s banking system. Unlike Australia, France operates on a Fractional Reserve System meaning their banking system holds a fraction of money that’s deposited by customers. The rest is used to make loans, creating new money.

If reports are true in saying 70 per cent of the population plans to withdraw all their euros, it means more than 46 million people will be directly revolting against the system. This could lead to a systemic banking crisis in the country where almost all the banking capital is wiped out. More…

The Facts:
In a fractional reserve system, banks do not have enough cash to payout for all their deposits. A bank run is a powerful, yet nonviolent tactic that can be used by citizens to show their displeasure.

Reflect On:
If a bank run was successful in a major western nation, what would be the consequence of such a move? You can probably be sure there would be increased calls by the elites for a “cashless society”, where the banks and the government would hold all the power, and the people would be at their mercy.