A call to withdraw money from banks to "scare the state legally"

Illustration of act 8 yellow vests, here on January 5, 2019 in Paris. - Lionel Urman / SIPA

To "scare" the government, "legally and without violence", several "yellow vests", including
one of the figures of the movement, Maxime Nicolle, call the protesters to withdraw their money from banks, this Saturday,
during the "act 9" of the mobilization.

For several days, calls to "shake" the government by withdrawing massively and simultaneously money from banks are multiplying on social networks. The goal is simple: create a "bank run", or "bank panic" to block the economy of the country.

"Scare" elected officials with "efficiency never reached"

An approach relayed by Maxime Nicolle, aka Fly Rider, who called for "a referendum of the tax collector" to "return to the polls, by distributors", during a live on his Facebook page, this Monday. "Many people will withdraw their money from banks. Many, many, many, "he warned. "For Act IX, we will scare the state legally and without violence," said Tahz San on his Facebook page.

In a video published Jan. 6, the man believes it is "time to expand the field (of) actions" against the "deafness" of the government, adding that this approach could "scare" elected officials, with "efficiency never achieved since the beginning of the movement".

A lack of liquidity in the event of massive withdrawals

According to him, it will be the "most direct referendum that can exist, which will not count how much we are, but how much we have made them lose. And it will be colossal. "We all know that the powers of the country are not in the hands of the government but in those of the banks. If the banks weaken, the state weakens immediately. […] Saturday we will all vote by withdrawing our money to impose the RIC emergency, "he continued.

In case of massive withdrawals, followed by the entire population, banks would not have enough cash to meet all requests, which would result in a "bank run". But banks should not come to that point on Saturday, according to Decoders : "If, for example, 1 million people withdrew 3,000 euros from their bank account, this would represent only the equivalent of a week of average bank withdrawals," say our colleagues who relied on data from the bank. the European Central Bank.