FR Exclsv: Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story.
Check out article, and # 21, maybe more, - haven't had time to read all comments.
Thanks, hoosiermama.
Posted on 06/12/2012 3:04:26 AM PDT by AAABEST
I don't often put stories in "breaking." I post vanities even less often. Hardly anything surprises me any longer, but I find this absolutely astounding. If you follow the financial threads or the situation in Europe, you really need to read this. Actually anyone with a bank account needs to read this.
I'm going to ask the mods to leave this here, unless they really feel I'm all wet here. I don't, however, believe I am. Follow me here.
BNI (Bank Network Investments) is Italy's oldest and forth largest bank. In other words, it's a biggie.
Anyway, the bank went into receivership last November. as of late last week, without any notice whatsoever to depositors, eureka, BNI suspends all payments and withdrawals. In other words the very first European bank goes on holiday. Furious depositors are left with no way to access their money or pay their bills. They will be on "holiday" (nice term btw) until at least July.
This is quite alarming in its own right on many levels. It's not, however, what is astounding. What's astounding is that there is a total media blackout. NOT A SINGLE ENGLISH SPEAKING ONLINE PERIODICAL MENTIONS THIS. Not one. Nobody. This happened last week, and we're going into Tuesday.
Don't believe me? Here is a Google News search of the terms "BNI" and "Italy" (no quotes).
Nothing. Zero, zilch, nada. Goose egg. Really?
The story is not a hoax, it was confirmed right here on FR at this thread. An astute FReeper, (Kartographer) picked up on it and worked the translation.
It's also on the bank's own website.
The only English speaking source I've been able to find it is right here on Kartographer's barely noticed FR thread, after which I found bits and pieces on a regular (not news) Google search at some other third rate websites.
Here is a site that has several stories on the matter translated from Italian.
Again, this went down last week, today is Tuesday.
Ohhhh, that's nice isn't it? I'd heard those euros take long holidays. Did they go to the seashore or the mountains?
FR Exclsv: Italy's Oldest & 4th Largest Bank CUTS DEPOSITORS OFF - not a single News story.
Check out article, and # 21, maybe more, - haven't had time to read all comments.
Thanks, hoosiermama.
When countries fail, they revert to war to bring themselves back or other countries bring war against them to take them over. Either way, WWIII is on the horizon.
Fear of bank runs here could be Hussein’s excuse to declare martial law. Add runs in with some other crisis he won’t let go to waste to incite riots and there you have it.
........what bank will have the dubious honor of being the Creditanstalt of the 21st Century?........
“BNI (Bank Network Investments) is Italy’s oldest and forth largest bank” the bank noted above would seem to be a good candidate.
http://www.irishtimes.com/newspaper/breaking/2012/0612/breaking24.html
EU discuss ‘limiting ATM withdrawals’
Hmmm, one use of the word, “prepare” is a warning but six is blaring alarms with all hands on deck.
Hey, hey, I was just given some peaches so bagged up 6 quarts for the freezer and saved the peels to can some peach butter tomorrow. With the bank news, I debated if I should have canned the peaches but didn’t think there’d be enough to bother with. But I’m happy and my foodstuff is happy!
Frankly, I'm shocked the mods did not erase your post
Even in the best of times I have trouble trusting Govt and the media. When a crisis that very well may be big,big,big, occurs I am not going to be waiting in some line in an urban area to see if the Feds are going to make good. I live on the outskirts of a small rural village. Plan B is what I am focusing on. After the chaos settles, maybe I’ll see if paper is worth anything and if any remains in that FDIC insured account. Guess it will depend on what I hear on the radio. You feel free to do whatever you see fit.
the truest free market may involve bartering. Some useful items that may be in demand: batteries, small propane tanks, soap, seed packets, spikes, sharpening stones, lantern mantles, extra butane lighters, extra flashlight bulbs, aspirin, etc. I am sure there are things around your house that would be useful if normal commerce shut down. I would inventory and place them together in one location ahead of time, so that I could grab them in a hurry. Call it your hope chest. Hope you never have to use it. You may not have time to search for something you know you have, but forgot where you put it.
“You may not have time to search for something you know you have, but forgot where you put it.”
That is my problem - too much crap and disorganized. The last time we had a winter storm come and knock out the power for a week at least I had a few days warning to get the basement cleaned out for sleeping around the pot-belly stove, getting supplies in order, etc. Didn’t need to go to the store for anything though.
Heaven forbid if something happened where I had a half-hour to leave.
question is how long is “eventually”?
Will they do it in time for you to pay your light bill? In time for you to get the presciptions you need? In time to buy food for your family?
Eventually can be a pretty long time.
Silencio. So many people have indulged in television and mob worship. They should be happy about the gangstas winning.
IMO, we’re seeing a correction toward morality again, after more middle class people have suffered enough and arrived in reality again.
Or it’s the reset to a press considered superfluous...
Mark for file
I’m pretty sure the Ulsterman report is not allowed to be linked here. However, “the old man” said to watch Italy. Forget Spain.....but WATCH Italy.
Once they fall, all the dominoes will begin to fall there after.
Ping to recent report.
I’m thinking, but I’m not sure where you are headed with this.
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