Occupy This!

             The revolution begins within, comrade!

Nobody is forced to use Wall Street's (The City's, etc, etc) products and services.

You don't have to keep a fat stack of "cash in the bank", that those evil Banksters can gamble with.

You don't need to put on your credit cards a load of pointless stuff you don't need and can't afford.

Everyone is not required to go to university and amass huge, life-sucking debts in the process.

It is not necessary for you to take on a massive mortgage that you will perhaps never be able to repay.

All of these things are choices we all have to make, as individuals. They are not mandatory checkboxes in the margin of your life story, which some corporate or public [busy] body demands that you must fill in, on pain of death, or imprisonment, or y'know, maybe just a wedgie… a Chinese burn… or a stern and disapproving look?

What is the Occupy movement today really all about? Is it about relieving Joe & Josephine Average of the requirement to make these kind of life choices and deal with the consequences that may ensue?

An example…

Sick of the banks getting bailed out when they make a mistake? Great, me too! So, let's stop the bank bail-outs.

But, wait a minute… how about those bail-ins, with innocent bank depositors like you'n'me losing our money? So unfair! Yes, that kind of thing is much more fun while it's happening to someone else (but especially those evil bankers of course).

Maybe your bank made a mistake with its bets… but that's not your problem — it's theirs! You didn't place any bet on anything, you didn't make any bad choices that went wrong for you. Right? ;-)

^{Be the change you want to see. Throw yourself down the well. Or… just take your head out of your ass.}

OMG teh government is coming to take our money!!

I disagree with those claiming "evil government will take our bank deposits!!".

I think instead there simply isn't enough money in the system to cover the amount of assets (bank liabilities… "deposits") that will at some point get called. The banks will not receive a government bail-out again, but savers (those with deposit balances above the insured limit) getting bailed-in.

That isn't the government doing anything -- it is the government not doing something! IMO ol' Marty (among others) has scrambled his noodle in his bid to blame government for every problem that comes along.

The government will this time simply not be available when the call comes to provide offseting assets (UST bonds) to the Central Bank, in order to enable the creation of that lovely moar money for the banks… so they can turn around and make good on all their promises to "depositors".

This is credibility deflation. Of over-leveraged retail banks. Savers have given the banks too much credit.

It is to say "the link between retail banks and the nation State will be severed". (smile)



^{Bank deposit credit balances are not "money".
This is analogous to "spot gold" credits not being gold.}

No regrets?

^{Time will tell}