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Bank Of China Declares Moratorium On Transfers, Online Banking; Counters Inoperable
06-24-2013, 03:37 PM #1
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
From Caijing, google translated. We hope the gist of the narrative in Mandarin is far less scary, because if the translation is even remotely accurate, then all hell may be about to break loose in China.

From Caijing: Bank of China, Bank of suspension of transfers morning counters were unable to apply for online banking


Update: Customer service said, now silver futures transfer service has been fully suspended, online banking, the counter can not be handled, and now has the background system response, recovery time is not yet known

Following the ICBC, the Bank of China also go awry again. This morning, the Bank of China Bank moratorium on transfers, online banking, counters are inoperable.

http://www.zerohedge.com/news/2013-06-24...inoperable
06-24-2013, 03:40 PM #2
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
China Crashing: Shanghai Composite Tumbles Most Since 2009

China Crashing: Shanghai Composite Tumbles Most Since 2009

13.gif
06-24-2013, 03:43 PM #3
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
http://www.miamiherald.com/2013/06/21/34...ijing.html

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
06-24-2013, 03:44 PM #4
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
i heard about this a few days ago

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
06-24-2013, 03:52 PM #5
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
i can only think of one word ...RESET..here it comesdamned.gif

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
06-24-2013, 03:54 PM #6
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
Yeah China's been a worry for a while now. I'm not sure I agree with the article you posted, sounded more like "Nothing to see here, move along". China holds over $1 trillion in US debt, much of it in T-bills. They could have sold them, crashed the US$ HARD but once the selling started they'd lose billions in the crash. So what did they do? They used the T-bills as collateral on loans to develop infrastructure both home and abroad. Since Friday's announcement by Bernanke that QE is over, the markets are in panic mode. The massive smackdown in PMs was insiders selling the GLD and SLV as hard and fast as they could to raise cash to meet margin calls and get out of paper. If China lets their banks umm... restructure, as Iceland did, US banks will be holding a trillion in bonds, and then what are they worth?

That's my take, I'm easily and often wrong. Very interesting.
06-24-2013, 03:59 PM #7
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
it certainly will be an interesting week.

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
06-24-2013, 04:13 PM #8
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
well i know that article was just a smooth it over..i think your right about this china appears to be in a full b lown credit crisis damned.gif

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
06-24-2013, 04:18 PM #9
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
http://www.moodys.com/research/Moodys-ta...-PR_275029

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png
06-24-2013, 04:22 PM #10
Octo Mother Superior
Posts:43,704 Threads:1,499 Joined:Feb 2011
I'm kind of amazed they have been able to keep up the shenanigans this long.

popcorn2.gif
06-24-2013, 04:32 PM #11
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,870 Threads:1,453 Joined:Feb 2011
And...it's gone. beerbong.gif

wonder.gif
06-24-2013, 04:36 PM #12
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
(06-24-2013, 04:32 PM)JayRodney Wrote:  And...it's gone. beerbong.gif


AIG chuckle.gif
06-24-2013, 04:43 PM #13
Octo Mother Superior
Posts:43,704 Threads:1,499 Joined:Feb 2011
lol.gif
06-24-2013, 04:44 PM #14
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,870 Threads:1,453 Joined:Feb 2011
lol.gif that puts it in perspective eh?

wonder.gif
06-24-2013, 04:53 PM #15
j browsing Member
Posts:5,158 Threads:1,098 Joined:Jul 2012
http://www.cnbc.com/id/100832292 BANG

"when life gives you lemons..throw them at someone"...Grumpy Cat good.png



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