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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
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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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