Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals

[Geaux4it]

Another reason I reload

Smoke em if you got em

-Geaux

20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

Submitted by Michael Snyder of The Economic Collapse blog,

Have you been paying attention to what has been happening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China? If you are like most Americans, you have not been. Most Americans don't seem to really care too much about what is happening in the rest of the world, but they should. In major cities all over the globe right now, there is looting, violence, shortages of basic supplies, and runs on the banks. We are not at a "global crisis" stage yet, but things are getting worse with each passing day. For a while, I have felt that 2014 would turn out to be a major "turning point" for the global economy, and so far that is exactly what it is turning out to be. The following are 20 early warning signs that we are rapidly approaching a global economic meltdown...

#1 The looting, violence and economic chaos that is happening in Argentina right now is a perfect example of what can happen when you print too much money...

For Dominga Kanaza, it wasn’t just the soaring inflation or the weeklong blackouts or even the looting that frayed her nerves.

It was all of them combined.

At one point last month, the 37-year-old shop owner refused to open the metal shutters protecting her corner grocery in downtown Buenos Aires more than a few inches -- just enough to sell soda to passersby on a sweltering summer day.

http://www.zerohedge.com/news/2014-...s-we-are-approaching-global-economic-meltdown

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Following research last week suggesting that HSBC has a major capital shortfall, the fact that several farmer's co-ops were unable to pay back depositors in China, and, of course, the liquidity crisis in China itself, news from The BBC that HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. The BBC reports that some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it. HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: "We ask our customers about the purpose of large cash withdrawals when they are unusual... the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime." As one customer responded: "you shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."

Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals

read the rest here Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals | Zero Hedge

 

[Politico]

No one is going to run the banks. The conspiracy section is thataway.

 

[Toro]

ZeroHedge

lol

 

[Wry Catcher]

Another reason I reload

Smoke em if you got em

-Geaux

20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

Submitted by Michael Snyder of The Economic Collapse blog,

Have you been paying attention to what has been happening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China? If you are like most Americans, you have not been. Most Americans don't seem to really care too much about what is happening in the rest of the world, but they should. In major cities all over the globe right now, there is looting, violence, shortages of basic supplies, and runs on the banks. We are not at a "global crisis" stage yet, but things are getting worse with each passing day. For a while, I have felt that 2014 would turn out to be a major "turning point" for the global economy, and so far that is exactly what it is turning out to be. The following are 20 early warning signs that we are rapidly approaching a global economic meltdown...

#1 The looting, violence and economic chaos that is happening in Argentina right now is a perfect example of what can happen when you print too much money...

For Dominga Kanaza, it wasn’t just the soaring inflation or the weeklong blackouts or even the looting that frayed her nerves.

It was all of them combined.

At one point last month, the 37-year-old shop owner refused to open the metal shutters protecting her corner grocery in downtown Buenos Aires more than a few inches -- just enough to sell soda to passersby on a sweltering summer day.

20 Early Warning Signs That We Are Approaching A Global Economic Meltdown | Zero Hedge

-----------------------------------------------

Following research last week suggesting that HSBC has a major capital shortfall, the fact that several farmer's co-ops were unable to pay back depositors in China, and, of course, the liquidity crisis in China itself, news from The BBC that HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. The BBC reports that some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it. HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: "We ask our customers about the purpose of large cash withdrawals when they are unusual... the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime." As one customer responded: "you shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."

Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals

read the rest here Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals | Zero Hedge

Ah yes, the FEAR CARD. I wonder, is the author of the OP a paranoid or simply desperate for attention?

 

[eagle1462010]

Those who ignore history are quite frankly IGNORANT...............

We have another Bubble Machine in the U.S. They are borrowing more than in 2008 to just pay Margin again, and again without real economic Recovery.......While there are other factors involved, this is a path to another crash.........It crashes when the FIAT MONEY MACHINE ends.......and it will be ended when the Feds decide to do so............

In Europe the same is happening as the Fiat Machine rolls..........Kicking out the Euro dollar to failing economies on Steroids.............The 4 southern countries are in economic crisis with double dipped unemployment, so much so that many are leaving their home countries to find work in other areas of Europe...........Spain, Greece, Portugal, and Italy have time and time again threatened to leave the Euro because of their dismal economic situations. Most of it caused by out of control Gov'ts and Social policies.........the other countries continue to prop them up with FIAT CURRENCY........

Japan's debt is at 150% of their GDP, and have been in a liquidity trap for decades.............

YEP........All's just PEACHY KEEN RIGHT NOW............If your an idiot.

 

[Delta4Embassy]

Global financial meltdown is inevitable. Our economy is a classic Ponzi scheme and since that's the case, collapse is unavoidable. Only a matter of when. Almost did in 2008 and that incident is called a symptom of the inherent nature of our economy. If our money isn't backed by gold or anything else, we can make as much as we want, and acrue as much debt as we can. There's nothing limiting it any more. Ironically, if we tried fixing it it'd collapse all at once. If we don't raise the debt ceilving every year it'll collapse. If we keep going hoping it wont collapse it'll collapse anyway just down the road somewhere.

Our money is an illusion based on happy thoughts and ignoring the reality behind it. If ever enough people 'looked behind the curtain' it'd all come crashing down. And eventually they will.

 

[eagle1462010]

Stock Market Crash - History of the Stock Market Crash of 1929

Buying on margin could be very risky. If the price of stock fell lower than the loan amount, the broker would likely issue a "margin call," which means that the buyer must come up with the cash to pay back his loan immediately.

In the 1920s, many speculators (people who hoped to make a lot of money on the stock market) bought stocks on margin. Confident in what seemed a never-ending rise in prices, many of these speculators neglected to seriously consider the risk they were taking.

Signs of Trouble

By early 1929, people across the United States were scrambling to get into the stock market. The profits seemed so assured that even many companies placed money in the stock market. And even more problematically, some banks placed customers' money in the stock market (without their knowledge). With the stock market prices upward bound, everything seemed wonderful. When the great crash hit in October, these people were taken by surprise. However, there had been warning signs.

buying on margin great depressionMoney Morning - Only the News You Can Profit From

So it's no small matter of concern that the Financial Industry Regulatory Authority reports the amount owed on loans secured by investments climbed to a record high $384 billion at the end of April.

That topped the previous high - $381 billion in 2007, not coincidentally, just before the financial meltdown and the Great Recession.

As a percentage of the economy, the latest margin borrowing totaled 2.71% of gross domestic product.

Mr. Ponzi would be proud.........hmmmmmmm which part of history is he from.

 

[Delta4Embassy]

Interesting question, worth a quick search

"Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi, (March 3, 1882 – January 18, 1949), commonly known as Charles Ponzi, was an Italian businessman and con artist in the U.S. and Canada."
Charles Ponzi - Wikipedia, the free encyclopedia

 

[editec]

HSBC Holdings PLC (NYSE:HSBC)Add to Watch ListSet Alert
53.20
Data as of Jan 24
-1.70 / -3.10%
Today’s Change
50.38TODAY
|||
52-Week Range
58.71
-3.50%
Year-to-Date

A 4.5% reduction in stock prices in the last week.

LONDON — HSBC and Citigroup each suspended currency traders on Friday amid ongoing investigations into potential manipulation of the $5-trillion-a-day foreign exchange market.