Cantona wants a run on the banks

Eric Cantona, the kung fu kicking philosopher footballer turned actor, is proposing a run on the banks to alleviate social strife.
He thinks the banking system is the root of all our problems and if we all withdrew our money simultaneously the banks would collapse and everything would be fine.
He says: "We must go to the bank. In this case there would be a real revolution. It's not complicated; instead of going on the streets and driving kilometres by car you simply go to the bank in your country and withdraw your money, and if there are a lot of people withdrawing their money the system collapses. No weapons, no blood, or anything like that."



There are so many holes in this argument it's difficult to know where to start.
What do you do with your money if you take it out?
Criminals must be rubbing their hands with glee at the prospect of people roaming the streets pockets stuffed full of cash.
What happens to the people who can't get their money out?
They lose it because their bank will have collapsed. Banks do not have enough cash to give everyone their money. It's the banking business model.
The banks owe billions to the taxpayer, if they collapse they won't be able to pay it back, ever.
Banking panics cause recessions, they don't cure them.
This is a time for calm not panic.
Eric is suffering from delusions of grandeur. Just because he could kick a ball, and a fan, does not mean his social solutions have any value at all. Most of us are intelligent enough to realise that - the rest of society will be at the cashpoints on December 7.