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Author Topic: Abandon Wall Street - This has some good ideas
JonoMcBain
Newbie
Posts: 4
Post Abandon Wall Street - This has some good ideas
on: October 19, 2011, 12:10

This has some pretty good ideas, we're having a class war... lets start attacking with information & resources ;)

Abandon Wall Street

You want to oppose Wall Street? Don't want to sleep in a park and make signs? The banker-owned oligarchy in Washington is unlikely to actually help you. (HINT: Obama's Chief of Staff, William M. Daley, came from JP Morgan Chase.) You need to take power for yourself, so here are some ways you can do that. As far as I know they're all legal and easy. And I'm not against money or capitalism, I'm against wall street welfare queen billionares vacationing in the Hamptons with public dollars.

When you do business with Wall Street, you help them wage war on you. It seems silly to be complicit in your own self-destruction, so here are some ways to stop, or at least decrease, the amount of business you do with Wall Street. It's not much, but it's a start. So here goes, 10 things you can do to ABANDON WALL STREET.

1. Abandon Big Banks

Use a local credit union or local bank. Depositors in credit unions are the owners, not Wall Street. The money stays in your local community when you use a small local bank or credit union.

More info: move your money project | Bank Transfer Day

2. Sell your mutual funds and stocks.

Look, you can't oppose this corrupt casino and keep going there and giving them your money. If you have mutual funds, stocks, or a brokerage account, it's your money they're screwing you with.
3. Put your 401k into cash

The government will hammer you on taxes if you liquidate your 401k, so roll it to an IRA at a local bank or credit union. If you can't roll it because of the terms of your employment, you can still move it to a money market and incur a lot less risk. Why let Wall Street managers play with your money while High Frequency Trading robots skim off the top all just to watch the DOW dance around 10k for a decade? This is not advocating that you stop saving for retirement, merely that you save someplace not hell bent on sending your job overseas.
4. Pay off debt.

Stop paying interest to these people. It's slavery and you know it. You probably don't need half the crap you buy anyway. People actually died to make you free, and you're gonna sell yourself into slavery for a flat screen tv?
5. Default on debt.

Can't pay off your debt? Underwater on an ARM? Walk away. If you have negative equity, let them have the house, car, flat screen tv. You took a risk and the banks took a risk when they made the loan. It didn't work out. Why should you be the only one to pay for the risk gone bad? Your credit rating will hurt? So what! Who cares? The credit rating is just another barcode they stamp on you. If you stop borrowing their money, a credit rating is meaningless. And don't start with "it's immoral to walk away from debt." All arguments about morality went away when they took a government bailout then gave themselves record bonuses with taxpayer money. The only debt you're really stuck with is Student Loans, you can't default on those and Uncle Sam will dock your pay. So pay those off and in the future, stop borrowing for education too.

6. Use cash

The banks make a fortune in fees from credit and debit cards and transaction fees. A bunch of you will rant about 1% cash back and bonus miles, about how you get a good deal because you pay it off every month. So you have to ask yourself, which would you rather have, power over your democracy or 1% cash back? Cash back is a Faustian bargain just like the low prices at Wall Mart, you have to consider the actual costs to your world. So if you want democracy, you're gonna have to give up sky miles - compared to the sacrifices people made on the fields of Gettysburg and the beaches of Normandy, it's not too much to ask.

7. Buy silver or gold

Not gold mining stocks, not shares in a silver ETF. Those are just more Wall Street Paper. You really want to fight wall street? Buy the actual metal. When you do this you're not only making an investment which will hopefully protect you from inflation, you're forcing gamblers on the COMEX exchange to de-leverage. This is not investment advice, I have no idea whether gold and silver are going up or down. This is advice on how to inflict pain on Wall Street.

More Info: #CrashJPMorganBuySilver

8. Spend your money locally.

If the company has a ticker symbol on a stock exchange, that's a pretty good sign the profits from your purchase are going to bankers. So if you have to buy something, buy from someone without a ticker symbol. You can't do this everywhere, but you can buy your pizza from the mom and pop shop down the road who sponsor the kid's baseball team instead of the global pizza conglomerate.

9. Use less energy

A lot of this exploitation is about preservation of the petro dollar. If you use less energy, you take away the need to fight wars and bail out banks to protect the petro dollar.

10. Believe your own eyes

You know damned well that price inflation is not low. You see it every day when you buy things. Prices are up everywhere. So when economists tell you inflation is low, if only you'd exclude the costs of food and energy, well, ask them how to live without those things? If the economist is Ben Bernanke, ask him to lead the way on living without food. In general, when you know the emperor is naked, have the self-respect to point it out.

-James Mandolini

got a better idea? I'm not against going to 11: ideas@abandonwallstreet.com

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