On Robbing Banks and Capitalism

The current crisis/fraud perpetrated by the financial and banking system has exposed the effects of globalized capitalism around the world: its growth through pillage, pollution, overexploitation, and destruction of resources, and the use of debt as a way to subjugate people to pseudo-feudalist economic powers, a model –in view of the evidence of recent years– that has been shown to be extremely harmful to the needs and welfare of humanity and to all living beings.

In this context, in 2008 Enric Duran made public a condemnation of this system by expropriating 492,000 euros from thirty nine financial institutions in order to:
—Finance diverse social and cooperative projects already in existence
—Print and disseminate three publications about the origins of the financial crisis, the main parties responsible, and providing alternatives to the system imposed by capitalism and nation states, giving voice to the movements formed with the intention of transforming competitiveness into cooperation, promoting the common good rather than individual benefit, and seeding initiatives based on Degrowth and the Good Living.
—And especially to highlight and condemn the way money is created based on debt.

The accusations against the banking system –and especially how money is created– are a significant concern for society and fully justified the actions taken against all the damage that the banking system has done to the lives of the majority of the population of Europe and indeed the whole world.

A whole new kind of global financial system is needed and possible. Communities around the world would be able to trade, fund one another's growth, redistribute wealth, and make collective decisions. They would hack currency markets to fund themselves while replacing competitive capitalism with cooperation. Duran had been studying the nature of money, which he came to see as an instrument of global debt servitude on behalf of financial elites, carrying the stain of their usurious dealings wherever it went. He became convinced that big banks were the chief causes of injustice in the world. But, he thought, maybe they could be a solution too. In the fall of 2005 he began setting up companies on paper and applying for loans. Soon, he had a mortgage from Caixa Terrassa worth €201,000 (then nearly $310,000). It was the first of 68 acts of borrowing, from car loans to credit cards, involving 39 banks. The loans, he said, totaled around €492,000—€360,000 not including interest and fees along the way. That was more than $500,000 at the time. * He assembled a collective to produce a newspaper detailing the evils of banks and what he had done to trick them. On September 17, 2008, volunteers across Catalonia handed out 200,000 copies of his newspaper, Crisis. Robbing banks was a spectacle, but one that created networks and built momentum for other projects. 'This is not the story of one action,' Duran said. 'It is a process of building an alternative economic system.'


Link cooperative projects: https://retorn.net/?lang=en
Link Good Living: http://www.pachamama.org/sumak-kawsay
http://www.vice.com/read/be-the-bank-you-want-to-see-in-the-world-0000626-v22n4
https://www.coopfunding.net/…/occupybanking-returnwithfree…/