Bank for International Settlements (BIS)Centralbahnplatz 2, Basel, Switzerland.
You put the facts together
You read this and decide what the outcome will be.
Taiwan Central Bank Pledges to Curtail Run on Fund
Bloomberg, Asia, July 16, 2004 04:52 EDT:
Taiwan's central bank said it may step in to ensure stability in the island's NT$2.9 trillion ($86 billion) mutual funds industry after investor withdrawals forced five funds to halt redemptions. An estimated NT$240 billion worth of bond funds have been redeemed this week, according to the Commercial Times. The rush is ``irrational'' and sufficient money will be made available to provide ``liquidity to stabilize money markets,'' the bank said in a statement. The government didn't release any figures on size of redemptions. The problem ``was probably caused by Procomp,'' Jong Huey- jen, deputy director-general at the Securities and Futures Bureau, said in a phone interview. She was referring to Procomp Informatics Co.'s default on a bond payment due on June 16. ``Everybody now panics when hearing about bonds. This is an issue of confidence.''
(First Russian Banks, Now Taiwan)
Nervous Depositors Make Run on Banks
The Moscow Times, By Denis Maternovsky, Thursday, July 8, 2004. Page 1:
Rumor fueled fear and fear fueled panic, sparking the biggest run on Russian banks since the 1998 crisis. Spooked by the closure Tuesday of mid-sized Guta and reports that top-tier Alfa was on the ropes, depositors descended on banks in droves Wednesday, intensifying a trend that has seen an estimated $5 billion, or about 10 percent of all household savings, taken out of the system in the last two months. "It's like 1998 all over again," Nikolai, a travel agency manager in his mid-40s, said as he squeezed into a packed Alfa Express branch near Sokol metro station. "I don't have much money here, but I am going to cash out just to be safe."
After three bank closures in as many months -- each bigger than the last -- intervention and reassurance by the Central Bank was not enough to calm growing concerns that a full-fledged crisis was in the making. Hit hardest of all was Alfa, the nation's largest private bank. "We have never had so many people here," said a security guard at Alfa's Sokol branch. "There were lines already when we opened the bank in the morning."
B.I.S -the boys running the "money System"- you know the famous Family and investors...
is shutting the Russian financial system down, in a tit-for-tat as Putin shut down the "family" & Investors interest Yukos Oil. This is a serious power and finance war between the west & the Russian Communist Party .Putin shut down the western controlled Yukos Oil, making a phonecall to the bank UBS here in Zurich to freeze about $5 billion in Yukos cash.
The elite insiders at the top of this western group pretend to be mad, and threatened the Russian Communists -- who are beginning to thump the war drums -- with expulsion from the G8; which they were only just two years ago invited to join (formerly called G7).
This is being blamed on the Russian central bank (actually a branch office of the BIS in Basel, Switzerland), and involving a seemingly unrelated Yukos Oil bankruptcy, on false tax charges, which Yukos could not pay, because the Boys in Switzerland froze their assets (which were more than enough to pay the liability), funds which were not in Russia, but in Swiss banks, controlled by (UBS Warburg, etc).
The BIS in Basel has a branch office in Moscow called the Russian Central Bank. It is not a secret that it isn't Russian, yet the newspapers fool the public by saying RUSSIAN central bank...
You piece this yourself -what do you think?
A Russian showdown with the US? The RUssian bear is arming up!