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Bank Of China Declares Moratorium On Transfers, Online Banking; Counters Inoperable
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.
10:00 many, many people began to receive messages sent to the Bank of China, "the end result of the Bank of China Bank failures, bank customers can not carry on through the Bank transfers, please Bank online banking, bank counter or use of other bank transfer system, Bank system will be restored promptly notify you." large number of transfer business banking needs of the people turned to online banking, counter, but according to the instructions of the public still found text messages can not handle.
Reporters call the BOC, customer service said, now silver has been fully suspended phase transfer services, online banking, the counter can not be handled, and now has the background system response, recovery time is not yet known.
As of 12:00, the Bank customer service said handle part of the user's online banking has been restored.
Just yesterday, 10:35, Shanghai and other places ICBC system failures, ATM machines, POS machines, online banking appeared paralyzed more than 50 minutes, all kinds of businesses can not properly handle.
The ICBC bank system failure comes trouble "money shortage", inevitably lead to speculation that many people guess the bank is not money.
To solve this problem, ICBC relevant person in charge told reporters that morning, business process slow, the analysis on the host software upgrade, emergency treatment, 11:27 various businesses all returned to normal.
As for speculation that the crash might be the last two days the inter-bank "money shortage" relevant, ICBC has denied
h/t Sean Corrigan
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Theater and Kabuki by China to unload "Ghost Cities" to Canadian Real-Estate Investors.
Actually the banks in the ghost cities are still open.....if you can find anyone in the building,
Stuxnet Ver 2.0 - Reprisal for Snowdens free pass.
China's not in the game of "hot potato" today?
HeHe. Bad news for somebody...
China knows exactly what they are doing. Thats why they will be the largest gold consumer in 2013.
http://srsroccoreport.com/step-aside-india-china-will-buy-that-gold/step...
Exactly.
HK sends Snowden off to the Ruskies. DC responds, through Moody's, but slamming HK ratings. China re-responds by dumping treasuries on the market and shuttering their banks for the day so there can be no retaliation.
So, is it war then?
Ground control to Major Tom. Your circuit's dead- there's something wrong.
There's gotta be a liqudity crunch coming to any place where Chinese investors have parked their cash OUTSIDE of China.
Think Cyprus X 1 BILLION PEOPLE
well this explains the long lines for gold, coming to a country near you.
The translated message sounds like the owner's assembly manual for a Chinese made metal shelving unit.
"Putting nut on your screw and orbit leftwise..."
Check out www.engrish.com, it hilarious (at times)!
This story is not being reported in the mainstream media at all, does zerohedge have any updates?
the MSM isnT blowing this temporary software problem out of proportion.
Extradition fundamentally is based on an action being a crime in the host country. Perhaps China just passed on the oportunity to be something different in the current instances. Was that current instance just crashed?
Houston, We have a Problem. Boy everybody is just full of good cheer and fun times today; alright. I love the "Chinglish" that Google gargles. If everybody is selling everything; where the fuck are they putting the money? I'm going back to bed. Fuck This.
Let me correct that for you. Sum Ting Wong!
Can you hear me (now)?
China re-responds by dumping treasuries on the market and shuttering their banks for the day so there can be no retaliation.
According to Jim Rickards, this 'dumping' of US Treasuries as an act of financial warfare is a myth - the Fed can choke any such dumping.
Not sure of the mechanism of this 'choking', though... can anyone throw any more light on the matter?
The FED can just buy up the Treasuries being dumped by China. Maybe that's the 'choking' he is referring to.
Sure they can, thing is, is that what they really want today? Don't forget, we live in the age of political capitalism, where pain is valuable, as it leads to cries of "Uncle!"
Casus Belli, Bitchez!
Got Mandate?
A wholesale dumping of UST leads to a run on the dollar, and the Fed has every interest in stopping that. It would raise the Prime rate aggressively in response, putting the brakes on any pretense of any "recovery" in the American economy.
Guess they would have to pick their poison.
Wag. The. Dog.
From your post, "It is interesting to realize that the Chinese like the Indians are purchasing gold to be used as a dowry for brides during weddings
That is incorrect. Unlike in China, in india, the groom is the recipeint of the dowry. Have to say I have always felt the Hindoos have their priorities right.
Every man is truely a golden boy.
Yeah Asian cultures are weird.
that's one of the reasons, girls in India are considered "expensive" for their families...
at least, the bride is the caretaker of the gold jewellery.
I know a Bangladeshi whose wife left the key to the safe out and the maid stole all her gold jewelry and hot footed it out of town. Disaster!
The Chopstux virus.
"... many people guess the bank is not money...."
Good guess.
as opposed to many people guess bank is as good as gold?
do Chinese naturally distrust banks more or less than Americans?
The following infographic seems to show that the Chinese tend to distrust banks more than Americans:
http://orlingrabbe.com/wp-content/uploads/2013/06/wpid-km3z4CC.png
It is called "Counting the World's Unbanked".
Hey folks, the 4th of July is just around the corner. I wonder if a "Bank Holiday" is on the calendar as well.
The Chinglish translation is the Bank has no money.
Guess they loaned it all out....it was 'mis-allocated'
Has Jon Corzine visited the Bank of China recently?
Yeah, I would say so.
Bank Run in 10....9...8..7..6.5.4.3.2.1....
Bank holiday in 5.4.3.2.1..
Fibonacci retracement in 89...55...34...21..13...8...
Physical GOLD Bitches !
The USA Attack On GOLD Will Peter Out Soon...
Would that be Peter Schiff?
People waking up to the fact that banks, money, and our nation are controlled by the....10....5....23....19!
Colonel Klink: Roulette wheel?
Just some random numbers from throwing darts at the board.
23?
Says made in China, so the number may be a little off.
I thought you were going to say "hike!" at the end!?!?! Can we try that again?
Close!
2319? Then expect a visit from the CDA!
fs: re fib: +1000 if I could
Edit: Make that +1597
Also reprisal for selling US Treasuries
We have no idea as joe six pack what the Chinese are buying and selling concerning Treasuries anymore at least not directly. China is THE ONLY country that has an agreement to buy directly from the Treasury bypassing the primary dealers and auctions in the process. It has been in place since 2011 thanks to turbo tax Timmah Geithner.
China saying fuck you to Treasuries will be the last move of the Ponzi game.
nah...ben will take em all
It's like your drug dealer is not on his usual corner this afternoon. Not that bad for him... but really starts the sweats in you!
Holy fuck skynet has become self aware
Exactly, I couldn't agree morw, it's payback for Snowden. Now, the questions are, will we say a payback and escalation from China? Will we see similar turmoil in Russia?
Get some opium in there fast & turn those machines back on...
Get some Kraken spiced rum and popcorn!
when Japan Fukus bigtime those ghost cities will find takers.
If they are built as well as the buildings that keep falling down days after breaking ground. I think most Japanese folks would rather live in a tent.
Send Blythe Masters over there to create a China CDO just like she did for housing, and the metals markets!!
http://j.people.com.cn/94476/8296712.html
Network accident/mishap. Can't use my ATM card, can't withdraw from counter. Shangai, Beijing, Bukow.
System upgrade issue. Announcement that all abilities to transact have returned to normal.
OT but the U.S. charge that Assad used Sarin is being exposed as bullshit by the UN.
"According to a Saturday report by the Lebanese newspaper al-Akhbar, Qatari officers Fahd Saeed al-Hajiri and Faleh Bin Khalid al-Tamimi were behind the transfer of chemical substances to anti-Syria militants through Ankara.
The Qatari officers were later killed in a suspicious explosion in Somalia in May, the report said.
On March 19, over two dozen people were killed and many others injured when foreign-backed militants fired missiles containing a chemical substance into the Khan al-Assal region in the northwestern city of Aleppo, Syria’s official news agency SANA reported.
The new report by the Lebanese daily was based on information received from the security service of an unnamed country in the region. The details of the case had been handed over to the Russian intelligence agency (FSB), the report said.
In an attempt to cover up the issue as Moscow demanded Ankara for explanation, Turkey announced that it had confiscated two kilograms of the nerve agent sarin following the arrest of 12 members of the terrorist al-Nusra Front, the report added.
On May 30, Turkish media reported that two kilograms of sarin gas as well as heavy weapons had been discovered during raids on the homes of 12 members of the al-Qaeda-affiliated al-Nusra Front in Turkey’s southern city of Adana, located some 150 kilometers (93 miles) from the border with Syria.
The United States has claimed that the Syrian government has used chemical weapons against the militants and thus crossed Washington’s “red line,” while Damascus dismisses the allegations as mere “lies” and “fabrications.”
On May 5, the UN Independent Commission of Inquiry on Syria said it found testimony from victims and medical staff that shows militants had used the nerve agent sarin in Syria. "
http://www.presstv.ir/detail/2013/06/23/310505/qatar-behind-syria-chemical-attack/
As a general rule, you can assume all the news coming from Washinton is BS. No need to validate by quoting a news article.
As a general rule,
"validations" trump "assumptions".
Evidence makes for credibility.
A belief that it is unnecessary to have any proof for one's opinions is hardly something to advocate,
or reason to rebuke others who not practice such a belief.
The government lies. Its not an opinion. it is a fact. Which is why I commented there is no need to provide supporting evidence. It is understood by all.
"The government lies."
Only when things 'get serious.' But, of course, things are always serious.
More conspiracy theory becoming conspiracy fact?
Any form of evidence can be fabricated.
“There are some people who live in a dream world, and there are some who face reality; and then there are those who turn one into the other.” --Douglas Everett
"Deception is a state of mind and the mind of the State.” — James Angleton
and one of my all-time favs,
"We now live in a nation where doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the press destroys information, religion destroys morals, and our banks destroy the economy." - Chris Hedges
Chris's naïveté really shines through in that quote - does he really believe it was ever any other way?
Government is the ANTI-freedom institution created by war tribes and later kings.
>Vote: Washington, D.C.
>Vote: Washington, B.S.
Click either and the NSA will know :P
I'm fed up, fuck'em!!
Hey, even the stock market is FED up!
Oh, not that kind of FED? Nah... nevermind.
It kind of is, it's fed FED clown bucks to keep it up.
'D.C.' stands for 'desperate clowns', right?
Dick Consumers
Dick Cheney
Disenchanted Customers.
Degenerate Cunts
District of Criminals!
(soon to be) Dead Cockroaches?
District of criminals! Everyone knows that.
Disemboweled Cocksuckers.
Or so I heard.
pods
I would think that the Sarin, if used at all, was done by the Islamist "rebels" against the freedom seeking rebels.
It is the authoritarian motherfuckers who are hiding right behind the poster boys we all want to cheer for but they are patsies used to earn our sympathy. Our authoritarian regime int he US uses the stories of freedom fighters as cover to fund and arm other authoritatian regimes in waiting. Same things happened in other Muslim countries, as is going to happen in Turkey, Brazil, S. Europe then everywhere.
When was the last time the U. S. actually backed the good guys? When was that? What was the level of that help compared to the assistance to the current crop of malevolent dictators?
I have no more reason to trust Iranian media than I do most American media outlets.
On the other hand, I could care less if both sides in the Syrian conflict exchange chemical weapons volleys with one another. Allahu akbar, bitchez!
Stupid to get caught. How incompetant are they to put their trust in that ignorant bunch rather than using their own people to deliver the load into the town? Now we are exposed as the ones who crossed our own "red line." We have murdered innocents in public and we are exposed for the war criminals we are. After they finish laughing, if the world doesn't eventually band together to take us down like a rabid dog I will be very surprised.
http://www.youtube.com/watch?v=FT4_Fefew78
Truer words...
Does this mean Moo Goo Gai Pan cannot transfer his hard earned (embezzled) money to buy that California McMansion?
No one suspects NSA hacking as payback for Snowden getting away from H.K.?
That's the thing about a weapon such as 'BoneSaw' - like the printing press, the temptation to use it must be overwhelming.
I would if I could.
Just say'n.
Even the mainstream is reporting this:
http://finance.yahoo.com/blogs/breakout/don-t-look-bernanke-china-driving-meltdown-135117339.html
Lions and tigers and bears (and dragons), oh my.
The meltdown was going to come from Japan. China just sped things up a bit. This is the first absolute crisis everyone saw coming and still did not get out of the way...
China decided to front-run Kyle Bass.
Has anyone considered that this might be a cyber-attack by the US government for China's defiance about Snowden?
sounds about right .. time for some Faber - http://hedge.ly/1c5g2Mg
You phuct now. So solly.
Hack attack.
How long before the Communists blame the Japanese?
And dump their Treasuries.
Scroll down. You're late on this one.
Silver, bitchez
I'm not sure they actually meant silver futures. Silver is the same word as money in Chinese. They could be talking about currency futures. Hard to say, given that it is a Google translation.
Oh... What the 'Google' translation meant to say was:
~~~
Thanks for the back door to your hard drive & porn stash located at:
C:\Documents and Settings\All Users\Documents\My Pictures\Obama_Frank_NSA\Ladyboy
"silver" = "currency" in Chinese language? intelesting, vely intelesting
IIRC, China only demonetised silver in the 1930's
Correct. China was the last country on earth to demonetize silver. Most of the rest of the world did so in the late 19th century. For 50 years a tremendous amount of silver flowed into China. When the Japanese looted China in the 1930s, they left all the silver behind because just taking all the gold and jewels was a huge logistical nightmare.
China could be sitting on a hoard of billions and billions of ounces of silver.
You may find the Chinese word for "silver" here:
http://www.mdbg.net/chindict/chindict.php?page=worddict&wdrst=0&wdqb=silver
and if you click on the Pinyin (Latin characters) you may hear the pronunciation as well
Yin, Bitchez!
Yang, Bitchez!
Yin, Bitchez!
Yang, Bitchez!
a flute with no holes is not a flute... & a donut with no hole... is a DANISH!
A flute with no holes is a whistle. Or a champagne glass.
It takes two to yango.
but but that can never happen. Government will save everything... right?
I wanna be saved!!!
...until there is no government.
Should be interesting to see the collateral damage that will happen to all pensions, public and private this week. Many of them have been investing hard into Chinese companies for 15 years ignoring their local obligations.
//Ontario Teachers Union I'm looking at you....lots of exposure, direct and indirect. The rest of them that use OTU as the model...might want to review your current and future expectations. Don't even bother keeping it in cash, it won't be worth much for long.
So those still working, make space for your Mums and Dads moving back. Retirement homes don't accept well wishes or hollowed out pension plans. Things are going to get tight.
Otherwise get some sawdust, it's going to be a bloodbath
Its as if all those people buying bullion for the past few months knew something....
hmmm
I want a hummer!
Who doesn't?
...oh wait, were you talking about the truck?
Reminds me of the joke about the guy who was all depressed because he got a sweater for Christmas. When asked why he was said, he said it was because last year, he got a moaner.
All those long lines and no one got killed.
Try doing that in Chicago!
Never happen in Chicago, guns are outlawed there you know..........wait, what???
Try doing that on black friday in any walmart....
S.t.a.m.p.e.d.e...
All those long lines and no one got killed.
Try doing that in Chicago!
How about at Walmart?
http://www.nytimes.com/2008/11/29/business/29walmart.html?pagewanted=all...
Months? Try the last 15 years.
Popcorn, please.
If this goes the way we all know it has to go ... the correct answer is hard alcohol and a good Cuban.
HT, your sentiment is sadly, compleatly understood.
check and check.
did u have a monika in mind?
Don't le whisky me! (hard wince)
an 8 yr aged Hondurian
can be kinda tasty..
I guess they are going to want some of that money back they lent us,,, arrrrghhhhhh
Yeah....just as soon as Germany gets it's gold.
Ha Ha (ala Simpsons kid)
Shitcoin payments have also been suspended apparently
http://rt.com/business/largest-bitcoin-exchange-suspends-withdrawals-094/
that was a short lived scam.
Exactly.
My new Motto:
In God We Trust, All Others Better Have Physical
It's just another failed fiat currency.
It sounds as if people were buying bitcoins with other currencies, and then cashing out in USD.
This example shows once again that even people supposedly going for a decentralized currency, still have a preference for a central exchange (Mt. Gox) and a central currency (USD).
the big freeze, then the big sleep of rogue capitalism.
Let's hope we can find the caskets of the cabal, and drive stakes through their hearts.
The South China Morning Post is calling it a technical glitch: http://www.scmp.com/news/china/article/1267756/mysterious-icbc-banking-glitch-sparks-panic-frustration-among-customers
Y2K on Chinese calendar, no doubt.