“The Peoples Bank of China , the central bank, has just ordered commercial banks to halt cash transfers.”
For three days if domestic currency, and nine days for conversions to foreign currency.
Hmmm... routine system maintenance eh? Right into the Lunar New Year holiday?
It seems there’s a problem over in China with their domestic banking system, whcih leads me to wonder if it’s time to say “Here it comes....”
HSBC to ‘protect’ customers by not letting them withdraw their money
If you bank at HSBC in England, dont plan on making any large cash withdrawals. At least not without a good explanation. Or, maybe even a permission slip.
Thats because a previously unannounced change in banking policy is blocking customers from making large withdrawals without evidence explaining why they need the money from their accounts.
I was just pondering how Janet Yellen will have been chair of the FED 24 hours before they allow the transfers to resume. I’m Feeling there is going to be a hug shift occuring on the first of February. Look out for major “selling out” to begin.
If you are a Fat Cat, then you know that you need to get the little guys screaming about a collapse so that they feel relieved when the Fed sends more Billions into the Fat Cats’ pockets for “bailouts.” Whew!
Can’t have the Fed tapering too much, might cut off the gravy train for the .01% government handouts to the hyper-wealthy.
HSBC reversed that policy or so they said.