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The Corporate Bank Run Has Started: Siemens Pulls 500 Million From A French Bank
ZeroHedge.com ^ | 9/19/11 | Tyler Durden

Posted on 09/19/2011 4:59:38 PM PDT by Kartographer

In a shocking representation of just how bad things are in Europe, the FT reports that major European industrial concern Siemens, pulled €500 million form a large French bank, which is not BNP and leaves just [SocGen|Credit Agricole] and deposited the money straight to the ECB. The implications of this are quite stunning, as it means that even European companies now refuse to work directly with their own banks, and somehow the ECB has become a direct lender/cash holder of only resort to private non-financial institutions!

(Excerpt) Read more at zerohedge.com ...


TOPICS:
KEYWORDS: bankrun; beprepared; bhoeconomy; collapse; corporations; euro; getreadyhereitcomes; preparenow; prepperping; shtf; siemens; survivalping; tshtf
Well for once I can write this and know for sure that is means something!

And so it begins.
1 posted on 09/19/2011 4:59:43 PM PDT by Kartographer
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To: appalachian_dweller; OldPossum; DuncanWaring; VirginiaMom; CodeToad; goosie; kalee; ...

PING!!


2 posted on 09/19/2011 5:00:53 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

WHAT does it mean?!


3 posted on 09/19/2011 5:01:46 PM PDT by mo
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To: Kartographer

No matter what Geitner does to help prop them up the die is cast. Too late to stop any of it. Europe disintegrates and who knows what comes next. I’m more worried about America than Europe. With our Marxist commander in Chief we have a lot more to worry about than French banks going under soon.


4 posted on 09/19/2011 5:02:31 PM PDT by DebraAI
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To: mo

Look for a number of European banks to start falling like dominoes.


5 posted on 09/19/2011 5:03:09 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: mo
This is a bank run...not started by naive individuals, but by a very well-informed major corporation.


6 posted on 09/19/2011 5:06:41 PM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: Kartographer

This is a blog.


7 posted on 09/19/2011 5:07:48 PM PDT by Admin Moderator
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To: Kartographer

I’d say between 4 and 6 billion definitely means something.


8 posted on 09/19/2011 5:09:13 PM PDT by mamelukesabre
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To: Kartographer
Hey Everybody!!

It's Time for the 'And So It Begins' drinking game! Every time someone posts the oh-so dire and ominous 'And So It Begins' - we take a drink!!

And So It Begins....
And so it begins
And so it begins.
And so it begins...
And so it begins.
And so it begins...
So it begins...
And so it begins.
And so it begins:
And so it begins.
So it begins,
So it begins.
And so it begins
and so it begins.....
And so it begins.
and so it begins.
And so it begins
And so it Begins….
A Romney we can respect (So it begins)
And So It Begins (Dollar Warnings)
And So It Begins! (And so it begins)
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(And So It Begins)
And so it begins again.....
School Is Renamed For Obama (And so it begins...)
So it begins.
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And so it begins.

While this list is not complete, it demonstrates the fun you and your family can have at home.

So join in, and drink up!!!

9 posted on 09/19/2011 5:10:00 PM PDT by TomServo
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To: Kartographer

Invest in Greek bonds! look at the amazing %100 return!/sarc


10 posted on 09/19/2011 5:11:37 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: All

Those who understand what this mean I recommend that that you look over post:

http://www.freerepublic.com/focus/f-bloggers/2780746/posts


11 posted on 09/19/2011 5:12:44 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

BUMP


12 posted on 09/19/2011 5:13:41 PM PDT by Lancey Howard
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To: Admin Moderator

Why is that significant?


13 posted on 09/19/2011 5:13:44 PM PDT by mamelukesabre
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To: TomServo

Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3

Or

“There is no greater disaster than to underestimate danger.

Underestimation can be fatal.”


14 posted on 09/19/2011 5:14:43 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

“Lighten up, Francis”

-Sergeant Hulka-


15 posted on 09/19/2011 5:18:03 PM PDT by TomServo
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To: All

Siemens Transfers EUR500 Million From Large French Bank To ECB -FT

German industrial firm Siemens AG (SI, SIE.XE) has pulled more than EUR500 million from a large French bank and transferred it to the European Central Bank, the Financial Times reported Monday.

Siemens made the transfer partly due to concerns about the future fiscal health of the bank, but also to benefit from higher interest rates paid by the ECB, the FT cites a person familiar with the matter as saying.

http://www.foxbusiness.com/industries/2011/09/19/siemens-transfers-eur500-million-from-large-french-bank-to-ecb-ft/


16 posted on 09/19/2011 5:21:00 PM PDT by John W (Natural-born US citizen since 1955)
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To: mamelukesabre
Why is that significant?

I got the same thing yesterday from admin moderator. Apparently, even though ZeroHedge is a well respected source for breaking news that is relevant in the financial sector, he / she would like it posted with the other drivel in the blog forum. If ZeroHedge is merely a blog, than what does that say about the leading financial outlets (ie MSNBS, Bloomturd, etc). ZeroHedge breaks news and has a proven track record, it is a real journalism site. I guess that doesn't matter.

17 posted on 09/19/2011 5:22:30 PM PDT by RobertClark (Emancipate yourself from mental slavery, none but ourselves can free our mind.)
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To: dynachrome
Invest in Greek bonds! look at the amazing %100 return!

The one year was at 143% last week. That evades comprehension.

18 posted on 09/19/2011 5:24:55 PM PDT by RobertClark (Emancipate yourself from mental slavery, none but ourselves can free our mind.)
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To: Kartographer
Siemens announced this week that it is leaving the nuclear power business. They may need the money to pay off outstanding agreements with Rosatom.
19 posted on 09/19/2011 5:25:02 PM PDT by GAB-1955 (I write books, love my wife, serve my nation, and believe in the Resurrection.)
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To: RobertClark

Toilet paper may be worth more than the 1 year bonds.


20 posted on 09/19/2011 5:28:39 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: RobertClark; mamelukesabre

I think that the mods want the original source and article posted (maybe bloomberg copyright problems?) rather than the zerohedge take on the article. I follow zerohedge and the ticker guy, myself.


21 posted on 09/19/2011 5:31:57 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: TomServo

Actually the line is based on the words of a ancient Jewish sheepherder name Amram who told his neighbor: “Lighten up Noah, you are getting to be a dark cloud.”


22 posted on 09/19/2011 5:32:24 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Kartographer

LOL!!


23 posted on 09/19/2011 5:34:07 PM PDT by TomServo
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To: TomServo

You’re right to be cynical of these threads. The economy is really stable and nothing bad could happen.


24 posted on 09/19/2011 5:34:23 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

The world ends tomorrow.


25 posted on 09/19/2011 5:35:39 PM PDT by TomServo
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To: mamelukesabre; Brad's Gramma; All

Siemens moved deposits from French bank to EC: Financial Times

http://www.reuters.com/article/2011/09/19/us-siemens-ecb-idUSTRE78I6Q420110919


26 posted on 09/19/2011 5:43:48 PM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: RobertClark

what isnt’ a blog?


27 posted on 09/19/2011 5:46:52 PM PDT by mamelukesabre
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To: DebraAI

[Too late to stop any of it. ]

Yup. I was trying to explain what is about to happen here in the US to some Freepers, but they claimed I was unpatriotic for getting my money out of Dodge. No good deed goes unpunished.


28 posted on 09/19/2011 5:50:29 PM PDT by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: Kartographer

http://www.freerepublic.com/focus/f-news/2780782/posts

Siemens shelters up to €6bn at ECB


29 posted on 09/19/2011 5:54:54 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver; DaxtonBrown; mamelukesabre; Kartographer; GAB-1955; Lancey Howard; NativeNewYorker; ...
driftdiver wrote:
http://www.freerepublic.com/focus/f-news/2780782/posts

Siemens shelters up to €6bn at ECB

Thanks, driftdiver.

To others watching this thread, the original article behind that blog post from ZeroHedge is posted at http://www.freerepublic.com/focus/f-news/2780782/posts.

30 posted on 09/19/2011 6:00:28 PM PDT by cc2k ( If having an "R" makes you conservative, does walking into a barn make you a horse's (_*_)?)
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To: Kartographer
OMG, not the ECB!!

If only the ECB were defined.

31 posted on 09/19/2011 6:29:53 PM PDT by Professional Engineer (Never Again! Except for the next time.)
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To: Kartographer

Ruh-roh, Raggy.


32 posted on 09/19/2011 6:41:58 PM PDT by Shalmaneser
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To: Kartographer

Thank you for the ping.


33 posted on 09/19/2011 6:47:58 PM PDT by little jeremiah (We will have to go through hell to get out of hell.)
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To: dynachrome

“Toilet paper may be worth more than the 1 year bonds.”

Not if you can get actual printed bonds. Rough, but sturdy paper, often has very nice engraving.


34 posted on 09/19/2011 9:13:03 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: Kartographer

bttt


35 posted on 09/19/2011 10:09:09 PM PDT by kimmie7 (I do not think BO is the antichrist, but he may very well be 665.)
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