Make Wall Street Pay - Seattle

A MoveOn.org-sponsored Move Your Money Day rally, celebrating as people closed out their Chase bank accounts. I think some people were going to do the same at Bank of America, but I had to leave early. As you can see, there were plenty of other people filming the event!

Category:

Nonprofits & Activism

Tags:

• Seattle
• MoveOn
• Make Wall Street Pay
• Move Your Money
• Chase

[wb7ptr]

Hey Ben ... you did a REALLY good job on that video, and it's a film student telling you that! Got the point across just fine too. Check mine out on here. It's on my YouTube page as a public video. It's about the city hall sit in in New Orleans this last Thursday (Nov 17, 2011). Have a great week!

[SquirrelFromGradLife]

@HitMakerSolo The problem with the American economy is that the banks have figured out, that in order to maximize their profit and make the most amount of money in the shortest time possible, they just have to spend mere millions on lobbyist in Washington getting their latest deregulation through Congress as a vessel for their next big scam. Wall Street buys lobbyists, lobbyists use their political connections and donate to politicians making companies able to buy just about any legislation!

[SquirrelFromGradLife]

@HitMakerSolo Actually no,The Federal Reserve no in fact very little if anything to do with the state of the American economy and the everlasting cycle of boom and bust every 5-7 years. You do know that every single deregulation of the banking industry have been followed by a financial crisis, and the more deregulated things become the worse the crisis.

Do you believe it's dangerous that American banks gamble with YOUR money on Greek and Italian debt derivatives possibly costing trillions again?

[HitMakerSolo]

@SquirrelFromGradLife You're probably right, but the Federal Reserve does have a lot to do with the downfall of our economy.

[SquirrelFromGradLife]

@AnotherNutJob There's just TWO reasons your pointing fingers at the Fed. ONE is you're obviously to stupid to realize the people who told you the bullshit about the Fed you're regurgitating are just LYING to you! SECONDLY you're using the good old republican political strategy of LYING and blaming somebody else.

Deregulation created the financial crisis! Deregulating Glass-Steagal and derivatives. You even go so far to upload Peter Schiff videos and he DEALS in DERIVATIVES! He LIES to YOU!

[SquirrelFromGradLife]

@AnotherNutJob Actually YOU create more MONEY out of thin air by lending the banks YOUR money! Not the Fed! Banks can NOT lend any money if they have no collateral or security for their balance at The Federal Reserve. Every time YOU put money in the bank, the banks use YOUR money as security! The Fed has absolutely NOTHING to do with that. It's purely a transaction between YOU and YOUR bank. The Fed just follows The Federal Reserve Act letting banks have credit using YOUR money as collateral!

[SquirrelFromGradLife]

@AnotherNutJob Since the trade deficit is pretty much constant why doesn't the dollar fall more then? Well it's in part due to the budget deficit and partly due to capital investments from outside America. Congress have to finance the deficit through selling of Treasury bonds ie borrow the very same money you just shipped to China back again which means Yuan's are exchanges for dollars again making the dollar go up. Outside investments in America further strengthen the dollar.

[SquirrelFromGradLife]

@AnotherNutJob The reason you observe the value of the dollar going down is because of the HUGE American trade deficit which automatically erodes the value of the dollar since money is pouring out of the country every times you go to Walmart and buy shit made in China! The dollar automatically becomes DEPRECIATED and NOT devalued because dollars are being sold for Chinese Yuan. The supply of dollars goes up, making the value of the dollar go down. It has NOTHING to do with the Fed right.It's YOU

[SquirrelFromGradLife]

@AnotherNutJob It's an absurd LIE to even suggest that The Federal Reserve is not part of the American Government, when the Federal Reserve Act specifically states that it IS part of the American government. It's directly mandated and regulated by CONGRESS. How do you not fucking get that?

The Fed do absolutely NOT devalue the dollar. That's a LIE. Devaluation is a specific act of monetary policy performed by a central bank to regulate the nominal value of a currency which the Fed do NOT do!

[SquirrelFromGradLife]

@AnotherNutJob It's a direct LIE that The Federal Reserve is not accountable to anyone as you claim. They are in fact accountable to Congress and the President, because Congress mandates The Federal Reserve through The Federal Reserve Act of 1913 and it's revisions since then and the President appoints the governors.

The Federal Reserve Act further more states the mission and it's completely insane to suggest the Fed "manipulates" the American economy.