to keep it a 100 I have no idea what your talking about..I think were talking about 2 diff things..
China's Central Bank :ufdup:
- Thread starter CouldntBeMeTho
- Start date
update, i thought the story smelled fishy
China Cash Transfer ‘Hoax’ Plays Into Bank Run Fears
Shepard Ambellas / January 28, 2014
http://intellihub.com/china-cash-transfer-hoax-plays-into-bank-run-fears/
Concerns over capital controls send jitters through market
Paul Joseph Watson | Infowars
A false story published by Forbes yesterday which claimed that China’s commercial banks had been instructed to suspend cash transfers played into very real fears about bank runs and capital controls that are sending chills through the market.
The original article by Forbes’ Gordon Chang, now deleted, claimed that, “The People’s Bank of China, the central bank, has just ordered commercial banks to halt cash transfers,” with specific reference to to Citibank’s Chinese branches.
Citibank China Customer Service soon dismissed the story, leading China Compass to report, ” The PBOC has not—repeat not—asked Citibank to stop customers from wiring funds. Customers can still log on to their account to put in fund transfer requests at any time. The receiving bank (non-Citibank) will process the funds to be transferred on the next business day, as it always does. Because of the Lunar New Year break, the next business day is Friday Feb. 7. This is no different from the practice of banks throughout the world. Chang’s understanding of Chinese culture evidently does not extend to the timing of bank holidays.”
In reality, cash transfers are not being suspended, they are merely being delayed as is normal due to the Chinese spring festival bank holiday.
Despite the story quickly being dismissed as inaccurate, it caused jitters throughout the market, leading analyst Dennis Gartman to make an impromptu appearance on CNBC during which he drew attention to the gravity of the (false) news that China has “suspended remittances of Renminbi.”
The story resonated because it was preceded by the very real piece of news that HSBC had instituted a policy change that would restrict large cash withdrawals by its customers.
As the BBC reported, customers attempting to withdraw £5,000 or more of their own money are being told they need to provide written documentation of what it will be used for, a new form of capital control that has prompted a wave of complaints.
A subsequent story concerning an “IT glitch” affecting Lloyds Banking Group ATMs which prevented customers from making cash withdrawals has also added to paranoia about potential bank runs.
As we reported back in November, Chase Bank also recently imposed restrictions which prevent its customers from conducting over $50,000 in cash activity per month, as well as banning business customers from sending international wire transfers. Financial expert Gerald Celente said the news was a sign that Americans should prepare for a bank holiday.
Questions were already being asked of Chase after an incident last year when customers across the country attempted to withdraw cash from ATMs only to see that their account balance had been reduced to zero. The problem, which Chase attributed to a technical glitch, lasted for hours before it was fixed, prompting panic from some customers.
In November it was also reported that two of the biggest banks in America were stuffing their ATMs with 20-30 per cent more cash than usual in order to head off a potential bank run if the US defaults on its debt.
This article originally appeared on Infowars
China Cash Transfer ‘Hoax’ Plays Into Bank Run Fears
Shepard Ambellas / January 28, 2014
http://intellihub.com/china-cash-transfer-hoax-plays-into-bank-run-fears/
Concerns over capital controls send jitters through market
Paul Joseph Watson | Infowars
A false story published by Forbes yesterday which claimed that China’s commercial banks had been instructed to suspend cash transfers played into very real fears about bank runs and capital controls that are sending chills through the market.
The original article by Forbes’ Gordon Chang, now deleted, claimed that, “The People’s Bank of China, the central bank, has just ordered commercial banks to halt cash transfers,” with specific reference to to Citibank’s Chinese branches.
Citibank China Customer Service soon dismissed the story, leading China Compass to report, ” The PBOC has not—repeat not—asked Citibank to stop customers from wiring funds. Customers can still log on to their account to put in fund transfer requests at any time. The receiving bank (non-Citibank) will process the funds to be transferred on the next business day, as it always does. Because of the Lunar New Year break, the next business day is Friday Feb. 7. This is no different from the practice of banks throughout the world. Chang’s understanding of Chinese culture evidently does not extend to the timing of bank holidays.”
In reality, cash transfers are not being suspended, they are merely being delayed as is normal due to the Chinese spring festival bank holiday.
Despite the story quickly being dismissed as inaccurate, it caused jitters throughout the market, leading analyst Dennis Gartman to make an impromptu appearance on CNBC during which he drew attention to the gravity of the (false) news that China has “suspended remittances of Renminbi.”
The story resonated because it was preceded by the very real piece of news that HSBC had instituted a policy change that would restrict large cash withdrawals by its customers.
As the BBC reported, customers attempting to withdraw £5,000 or more of their own money are being told they need to provide written documentation of what it will be used for, a new form of capital control that has prompted a wave of complaints.
A subsequent story concerning an “IT glitch” affecting Lloyds Banking Group ATMs which prevented customers from making cash withdrawals has also added to paranoia about potential bank runs.
As we reported back in November, Chase Bank also recently imposed restrictions which prevent its customers from conducting over $50,000 in cash activity per month, as well as banning business customers from sending international wire transfers. Financial expert Gerald Celente said the news was a sign that Americans should prepare for a bank holiday.
Questions were already being asked of Chase after an incident last year when customers across the country attempted to withdraw cash from ATMs only to see that their account balance had been reduced to zero. The problem, which Chase attributed to a technical glitch, lasted for hours before it was fixed, prompting panic from some customers.
In November it was also reported that two of the biggest banks in America were stuffing their ATMs with 20-30 per cent more cash than usual in order to head off a potential bank run if the US defaults on its debt.
This article originally appeared on Infowars
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Futuristic Eskimo
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I'm not 100% sure, but hasn't China's holdings of US Treasuries been stagnant, or even declined, during the last couple of years? I remember reading something about the PBOC attempting to divest from treasuries. Someone with more knowledge on this, speak on it please. Everyone that is predicting doom for the US if China's economy goes through a rough period doesn't know what they're talking about. There are plenty of people in the world still willing to buy our bonds.
Yeah breh, China trading their cash hoards for US assets at over inflated prices, they've been overpaying for a lot of prime US real estate lately. China is still buying large amounts of gold as well, even with the current bear market in the precious metal. That ain't gonna save them though, they have internal problems of their own. The higher ups did a lot of crony lending on real estate development deals to their buddies, and these ghost towns are coming home to roost. Between the US borrowing every cent available in Chinese savings, and the developers not paying their loans, I'd imagine they're strapped for cash. The problem is if the dollar crashes, their main trading partner can't buy sh*t, and their economy goes to sh*t overnight. The US Dollar is a f*ckin' atomic bomb, the Repubs know this, that's why they keep pushing Obama to the edge, because they know the world would rather Obama cave in to Repub demands then let the dollar crash. It's very unamerican of me say this, but they seriously should have an exam for anybody who claims to be a Republican before allowing them to vote. These Tea Party mutherf*ckers if given their way would allow the world to go into complete anarchy just to show who's boss, how could anyone vote Republican is beyond me
Yeah breh, China trading their cash hoards for US assets at over inflated prices, they've been overpaying for a lot of prime US real estate lately. China is still buying large amounts of gold as well, even with the current bear market in the precious metal. That ain't gonna save them though, they have internal problems of their own. The higher ups did a lot of crony lending on real estate development deals to their buddies, and these ghost towns are coming home to roost. Between the US borrowing every cent available in Chinese savings, and the developers not paying their loans, I'd imagine they're strapped for cash. The problem is if the dollar crashes, their main trading partner can't buy sh*t, and their economy goes to sh*t overnight. The US Dollar is a f*ckin' atomic bomb, the Repubs know this, that's why they keep pushing Obama to the edge, because they know the world would rather Obama cave in to Repub demands then let the dollar crash. It's very unamerican of me say this, but they seriously should have an exam for anybody who claims to be a Republican before allowing them to vote. These Tea Party mutherf*ckers if given their way would allow the world to go into complete anarchy just to show who's boss, how could anyone vote Republican is beyond me
Republicans are fascists. Remember that.
why yall linking my mans with this sh1t...
playin mind games to leave alex jones in your mind after reading the article when it's really the zionists at forbes that created the panic.
Pool_Shark
Can’t move with me in this digital space
hate chicken littlesupdate, i thought the story smelled fishy
China Cash Transfer ‘Hoax’ Plays Into Bank Run Fears
Shepard Ambellas / January 28, 2014
http://intellihub.com/china-cash-transfer-hoax-plays-into-bank-run-fears/
Concerns over capital controls send jitters through market
Paul Joseph Watson | Infowars
A false story published by Forbes yesterday which claimed that China’s commercial banks had been instructed to suspend cash transfers played into very real fears about bank runs and capital controls that are sending chills through the market.
The original article by Forbes’ Gordon Chang, now deleted, claimed that, “The People’s Bank of China, the central bank, has just ordered commercial banks to halt cash transfers,” with specific reference to to Citibank’s Chinese branches.
Citibank China Customer Service soon dismissed the story, leading China Compass to report, ” The PBOC has not—repeat not—asked Citibank to stop customers from wiring funds. Customers can still log on to their account to put in fund transfer requests at any time. The receiving bank (non-Citibank) will process the funds to be transferred on the next business day, as it always does. Because of the Lunar New Year break, the next business day is Friday Feb. 7. This is no different from the practice of banks throughout the world. Chang’s understanding of Chinese culture evidently does not extend to the timing of bank holidays.”
In reality, cash transfers are not being suspended, they are merely being delayed as is normal due to the Chinese spring festival bank holiday.
Despite the story quickly being dismissed as inaccurate, it caused jitters throughout the market, leading analyst Dennis Gartman to make an impromptu appearance on CNBC during which he drew attention to the gravity of the (false) news that China has “suspended remittances of Renminbi.”
The story resonated because it was preceded by the very real piece of news that HSBC had instituted a policy change that would restrict large cash withdrawals by its customers.
As the BBC reported, customers attempting to withdraw £5,000 or more of their own money are being told they need to provide written documentation of what it will be used for, a new form of capital control that has prompted a wave of complaints.
A subsequent story concerning an “IT glitch” affecting Lloyds Banking Group ATMs which prevented customers from making cash withdrawals has also added to paranoia about potential bank runs.
As we reported back in November, Chase Bank also recently imposed restrictions which prevent its customers from conducting over $50,000 in cash activity per month, as well as banning business customers from sending international wire transfers. Financial expert Gerald Celente said the news was a sign that Americans should prepare for a bank holiday.
Questions were already being asked of Chase after an incident last year when customers across the country attempted to withdraw cash from ATMs only to see that their account balance had been reduced to zero. The problem, which Chase attributed to a technical glitch, lasted for hours before it was fixed, prompting panic from some customers.
In November it was also reported that two of the biggest banks in America were stuffing their ATMs with 20-30 per cent more cash than usual in order to head off a potential bank run if the US defaults on its debt.
This article originally appeared on Infowars
yes it will. This is happening so that they can ensure that it does.
Plus people there still will be breaking their fam off thousands of dollars during these holidays... everyone will be fine, and they still be able to help keep us going as well.
NTM, emerging nations and economies.... are taking their US dollars and turning them into...... what currency??
Black smoke and cac jokes
Your daps are mine
Very very smart move.
heisenburrr
Have Fun Staying Poor
them china man bout to flood the BTC market once again 