A Run on French Banks, the Most Effective Protest the Yellow Vests Can Pull Off, and a Chance for Crypto to Shine

The Yellow Vests in France have called for a collective move to withdraw money from banks. It's being called the "Tax Collector's Referendum".

Another event to protest in front of the Rothschild bank in Lyon, France was organized in a Facebook group where 3,900 people were interested in attending. It was to be held today. I'm not sure how this went, as the event doesn't have any updates.

But this is good news to know the Yellow Vests are beginning to target the root of bankers, rather then the branches of politicians. The group stated that the French government borrows money from private banks, creating debt, while the bankers make money from interest on loans to the government.

This is how the scam works nearly everywhere. People are being taxed and money stolen at the threat of a gun by the state, in order to pay for a debt and interest payments that go to private banks.

The Huffington post explained the history of how this ocure din France, as recently as 1973, where then President George Pompidou turned over the power of the government to issue debt at 0% interest from it's own central bank, by making the central bank lend to the private banks who then lend to the government at interest. What a scam.

In 1973, France did not have a debt problem and the national budget was balanced. Indeed, the state could borrow directly from the Bank of France to finance the building of schools, road infrastructure, ports, airlines, hospitals and cultural centers, something that it was possible to do without being required to pay an exorbitant interest rate. Thus, the government rarely found itself in debt. Nonetheless, on January 3, 1973, the government of President George Pompidou — Pompidou was himself a former general director of the Rothschild Bank — influenced by the financial sector, adopted Law no.73/7 focusing on the Bank of France. It was nicknamed the “Rothschild law” because of the intense lobbying by the banking sector which favored its adoption. Formulated by Olivier Wormser, Governor of the Bank of France, and Valéry Giscard d’Estaing, then Minister of the Economy and Finance, it stipulates in Article 25, that “the State can no longer demand discounted loans from the Bank of France.”

This target on banks is a "very good initiative", as one protester said, "Finally we protest the real debt managers and not their puppets."

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Some Yellow Vest supporters are aware of Bitcoin. This can grow as knowledge of the corrupt banking system reaches more people. Hopefully worldwide. This knowledge could be the power needed to spark a real change, rather than the protests that often end up with violent property damage that the government and police use to justify arresting them and turning the people against the movement. The Daily Crusader said:

This is potentially exciting news for the bitcoin and cryptocurrency community as a sudden surge of fresh cash could be about to hit the markets.

Max Keiser agrees, suggesting:

If every French person converted 20% of their bank deposits into #Bitcoin (and got a Bitcoin debit card to use for day-2-day stuff), French banks and the government would collapse and a lot of bloodshed could be avoided. #jilletsjaunes #JeSuisSatoshi

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Maybe the Yellow Vests will spearhead crypto into greater adoption. We will see.

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References:

• Yellow Vests Plan Protest Outside Rothschild Bank In France
• Yellow Vests in France Planning a Bank Run to Collapse the Euro

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