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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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Yep. Just like a 'wardrobe malfunction', 'kinetic military action', or 'jobless recovery'. Please let the collapse begin.
merely a flesh wound..
...in fleshy part of heart....
glitches bitchez
Excellent info, thanx.
This was yesterday; what's happening today may be related or something else.
That 25% interbank rate last week was scary; no doubt a Black Swan of some kind has arrived.
I'm heading for the atm myself, but fortunately, my PMs still work OK.
Needs more stuxnet.... Can you say cyberwar. First downgrade Hong Kong now this.
Yeah... China has about 3 trillion reasons why that wouldn't be in the US's best interest if it were even remotely true.
Vancouver real estate just took a big hit. The Chinese were paying cash.
"silver futures ... suspended" - WHAT THE F**K ????!!!!
This thing won't take Chinese symbols so here it is in translate instead.
http://translate.google.com/#en/zh-TW/I%27ll%20gladly%20pay%20you%20next....
W? huì h?n lèyì zh?fù n? xià zh?u èr j?nti?n y?xi? yín.
All I get is SNAFU and FUBAR.
How many upvotes am I allowed for this post?
A very Wimpy post :-)
"system failures, ATM machines, POS machines, online banking appeared paralyzed" - NSA says "Hello", wants their man back ASAP.
/ Stuxnet 2.0 /
China: Thats ok we got 5 times more gold then we ever told you about
NSA knows about that too...
~~~
But it still can't tell you anything about 9/11, Boston, underwear, shoelaces, or where Snowden is... For that you'll have to check with either Reuters or 'Booking... DOT~YEAH!'...
I wonder if the NSA knows what will happen if China were to dump US Treasuries onto the market?
Yes ~ They've 'scenario'd' that and have come up with an algo...
~~~
DIVIDE BY ZERO
Thye already did, in the form of collateral for loans from US banks and pension funds :rofl:
francis_sawyer, you're soooo right!!
How to identify CIA limited hangout op? | Dr. Webster G. Tarpley
Tue Jun 18, 2013
The operations of secret intelligence agencies aiming at the manipulation of public opinion generally involve a combination of cynical deception with the pathetic gullibility of the targeted populations.
There is ample reason to believe that the case of Edward Joseph Snowden fits into this pattern. We are likely dealing here with a limited hangout operation, in which carefully selected and falsified documents and other materials are deliberately revealed by an insider who pretends to be a fugitive rebelling against the excesses of some oppressive or dangerous government agency.
But the revelations turn out to have been prepared with a view to shaping the public consciousness in a way which is advantageous to the intelligence agency involved. At the same time, gullible young people can be duped into supporting a personality cult of the leaker, more commonly referred to as a “whistleblower.” A further variation on the theme can be the attempt of the sponsoring intelligence agency to introduce their chosen conduit, now posing as a defector, into the intelligence apparatus of a targeted foreign government. In this case, the leaker or whistleblower attains the status of a triple agent.
. . .
http://tarpley.net/2013/06/19/how-to-identify-a-cia-limited-hangout-oper...
SEE ALSO: Gordon Duff | Veterans Today http://www.veteranstoday.com/2013/06/15/are-whistleblowers-sometimes-too...Webster Tarpley is a raging socialist. I don't listen to Statists.
Now that is funny
Oh rearwrie? Rie srell all aure JGBs. MAD bietchez
It is time for a Team America sequel. Fuck yeah!
"system failures, ATM machines, POS machines, online banking appeared paralyzed- NSA says "Hello", wants their man back ASAP."
Nah, just 1.3 billion people trying to get their money out of ATMs and banks simultaneously. In other words, a bank run, and that's not something the US wants because it could very easily trigger the proper end of the "recovery" farce and put the markets down where they should be.
If the situation is as ad as the translation then we are in for some real turbulence.
No silver for you...
tonto
I wonder if Chinese requests for Cyprus Visas are on the rise?
China is shipping us cars.....and we're shpping them boats.
Maybe the US are hacking China as a retaliation....
Maybe they is.
CNBC guest early this morning said China not that important to US as the US does not sell anything there.
Buicks !
Typical of a narrow minded fuck on CNBC
That's definitely a look good for his schill report card.
Lol! we just send major US Corporations there. Half right.
Big boom sound!
You can measure the speed of equity destruction the same way you measure the speed of a Chinese bond dump, with a stopwatch at an opening bell, Find a place where you can hear a good echo or feed back loop, CNBC would be a good point of reference.
Stand a known distance from whatever that sound from China is reflecting off, that dork down the hallway sell side desk will do just fine. Do a desk pop with a starter's pistol and start the stopwatch. Stop the watch when you hear the echo of Police sirens.
Divide 2 times the distance to China (it's a round trip coast to coast) by the time to get the speed.At 21 degrees C (70°F), you should get 344 meters per second, or 1129 ft per second. The numbers are 331 m/s or 1087 ft/s.
The proper formula for the change in speed due to temperature and latent Fukashima radiation, in my professional *opinion based on scientific theories.. I say the chickens will come home to roost at 08:00 PST.
Hope that helps?
That is bullshit, we sell 'em a ton of wild North American ginseng. So there.
Didn't we used to sell the suckers bonds?
"CNBC guest early this morning said China not that important to US as the US does not sell anything there."
Typical CNBC BS "analysis" for the clueless. Move along, nothing to see here...
"Whore-atorium" on bankers !
See what happens when you don't hand over Snowden.....
This is the new warfare....who can fuck whom the hardest from their cubicle farm.
Perfect movie metaphor for what is probably happening. Snowden was probably never anywhere near the Pacific Rim. But let's make up an excuse for a clumsy, aggressive catharsis from the eternally-sexually-repressed war lobby and its perennially cholesterol-clogged supply chains in midlife-crisis. China just woke up to the noise and ran outside in his pajamas, "wtf you dowin to my car, mayn?!" Another senseless vandalism of world trade and rational exchange of goods between people coming next. Who knows where.
This is not going to end well! China just pulled the plug
And Gold gets slammed again......
That's slammed? You are either very new at this, and should stand aside, or a propagandist.
"The end .... justifies the means !" .... Mao ?
Just a computer glitch, I think.
Or then not.
Turmoil is coming, you can feel it,
Brazil made the Turkish protests look small,
The Chinese protests are gonna make......well......everything else.....look small,
I'd say the Commies have their bags already packed,
Don't come to Ireland boyos, we've enough Commies already tks,
Before the commies take off I can guarantee they will send a trillion worth of US bonds back to the place that issued them in return for something more than paper promises.
Those bonds will be declared forgeries and not honored.
Great book: "Gold Warriors" ... +1
We've all heard "China won't destroy relations with their biggest importer by dumping treasuries on the market and destroying their economy". However, I think that became less and less true with each boatload of gold that came into Chinese harbors.
Now they can dump UST, call up the rest of the BRICS posse and dump the dollar, and get retarded rich to the point that American purchases of chinese trinkets look like a lemonade stand.
if that's the entire financial edifice that has just been exploded then yep...i agree. "if you think the USA is basically ungovernable you should try China." Fed Chairman couldn't have had worse timing for announcing his exit strategy either. "all in the name of savers" of course. of course you know how monetary authorities love craziness in their bond markets!
I'm just hoping my next shipment of PM's makes it to my house before all breaks loose!!
I just checked with the NSA & they told me to tell you it's on the boat as we speak...
Cyberwar
That mattress is looking better and better....
My thought as well. Need some dry powder and not prudent to go "all in" on PMs given that there is not proper price discovery, we may have to hold for a long time.
Spidey senses are tingling that with stocks, bonds and PMs tanking, everyone moves into cash before being "Cyprused".
+17,000,000,000,000
Exactly, They can't easily 'bail-in' stocks and bonds... but they can bail-in brokerage & bank accounts.
And gold is leaking lower. What a bizzare world we live in.
Stocks will be worse off than bailed-in banking deposits. The day they bail-in 10% of deposits, stocks will probably be down 25% or more.
I had to go out this weekend to purchase my third mattress.
A few weeks ago China cut the pay of its Chinese language instructors that it sends overseas to various countries public schools. They don't make very much so you know things are getting really tight in China. Growth of 7%? Laughable.
Lao Shur, Ne shur weigworen. Tamen mayo chen.
Wo yao pijoh
If this in anyway is a Stutnex for Snowden, its time to shut this mongoose down. Got Gold?
Something wicked this way comes bitchez.
And whocouldaknowed it would be our Chinese friends riding the four horses of the apocylapse?
Games on friends, you are about to witness history in your very lifetimes.
Once again, heads down, arse up, good luck you billion hit wonders, is this the moment we have been waiting for then?
Mmmmmm, Apocolypse Horseburgers.......slurp,
Would you like some appropriate music with that? ;-)
Aphrodite's Child: 'The Four Horsemen'
http://www.youtube.com/watch?v=selfqEH-JnY
One Ed J. Snowden rides onto the world stage atop a Black Swan???
We need a signal or something so we know who the ZHers are in the crowd.
Let's have t-shirts made with our avatars on them. I shouldn't be hard to spot....nor should BigHairyBalls.
That 'Tache' I sport will be a dead giveaway Meat Hammer.
See you on the other side mate.
:-)
Last time I placed my head down and arse up, someone parked a bicycle...
in my ass crack...
System upgrades
Confucius say… to solve problem, dig at roots not hack at leaves.
Cash is king...ask the Cypriots. HARD assets? We don't need no tangible...well ok, we do. Keep clam....as Iver says.
If I were any clammer I'd be in a camo.
Get long the metals, bitchez.
I wonder if China will pull an FDR by revaluing gold to bail out their banks? For those who are not aware, that was the real reason for the US gold confiscation; the hand of Rothschild, dontcha know.
If China did that it would be considered an act of war against the United States (Dollar). The creation of a commidity backed currency would ripple across the world like a 9.0 Earthquake and God only knows what would be left standing after it.
zee gold perhaps?
There is no Bernank... There is only the Annunaki...
If China did that it would be considered an act of war against the United States (Dollar). The creation of a commidity backed currency would ripple across the world like a 9.0 Earthquake and God only knows what would be left standing after it.
So?
Technically, it wasn't a confiscation, it was voluntary, just people didn't take the time to read the fine print and like muppets, they complied. The goobermint revalued and the muppets lost an opportunity to make a killing because they heard Confiscation and be patriotic and comply to "help save our Nation" well guess what? They can suck a fat one this time around mandatory or otherwise.
3, 2, 1 until someone blames someone for cyberwarfare.
The Edward Snowden delivered Stuxnet for Banking has touched down .... here, let me plug in this USB stick right here and show you something you'll never believe.
Or .... it's on like Donkey Kong ... the NSA is like a cornered rat now that they were outed, they have to create that "Cyberwar" they have been warning and preparing for these last decades or all their crimes against the people will come to light without a national emergency to cover it all up with .... very dangerous times these. General Keith Alexander will not go quietly into that good night ... banks are the first thiing to be attacked in cyberwarfare. From a zero to a hero, with a 'crises'.
Smithers: What now, Gen ALex?
Alex: We must destroy the world or it cannot be saved. Throw the kill switch, Smithers!
Impossible!
Incontheivable!
Preposterous! !!
Cyber warfare? That's an easy problem to solve and needs to be adopted by US government agencies, take our sensitive and highly classified data off line now. Borrowing a catch phrase from Bill Clinton, it's the Internet, stupid!
Smells like a bank run into gold
"An official of Bank of China expressed late this evening: the Bank has never defaulted on any fund payment and fulfilled all of the outbound payments on June 20 in a timely manner. Relevant media reports and market rumors seriously distorted the facts and are totally untrue. The Bank reserves its rights to pursue legal action towards those institutions and individuals who maliciously fabricate and spread rumors against BOC."
Meanwhile, NSA hackers have just fired another clusterbomb of zero-day exploits at the BoC's network.
This is what happens when you mess with Team America. Fuck yeah!
Wang: Premier Xi, let me show you what we got off Snow-downs computer."
Xi: "Party Checks arrive today, comrade. Let me check my bank balance first....Whaaa?????"
"'Tis merely a flesh wound!"
in the heart
USSA! USSA! USSA!
Doesn't really roll of the tongue quite the same, IMO...
Please ! Don't pull my Yang!!
We are ruled by psychopaths with nuclear weapons.
You have a mouse in your pocket?
"Official Space helmet on, oh Captain Video" -Ed Norton, Honeymooners
Bitcoin users not affected
Gold holders unaffected....plus I hear there is a sale currently!
Indeed. Buy it while paper still prices physical..at this rate it may not last very long.
Velly, Velly intelesting, glasshopper.
Now is the time for China to announce they are bidding 5k an ounce of gold and pegging their currency to recap their system.
okay, now who wants an empty city?
perhaps an empty shopping mall?
very cheap. good quality.
Vely good. Built from Chairman Mao's steel.
It feels like only yesterday when we were actually relying on China to buy everything US.
Pork Fried Rice.
Bernanke stood up in the press conference and said sell to Wall Street and his bankster minions. Their unloading.
I'll ask my friends and family if I can outfit them with a tinfoil hat now.
We use gold foil hats around here, we like the way they scatter alpha particles !!!
That chop suey translation is priceless, # hocking 1!
Even if NSA didn't bring down Chinese banking system they've already gotten credit for it. Chinese can't be obvious with their retaliation and hack US banks, how about throwing a spanner into US energy transmission system not that its hocking hot here.
Better still, halt production of Iphones - that would be bound to cause mass panic...
OK. I am based in China.
There's a strong rumour that this kind of system glitch was the system upgrade.
Most of the Chinese banks were using CISCO cables and after the snowdon leaks, Beijing decided to change all these system to Huawei.
Oh, you mean they didn't tell the people that the shit might be introduced to the fan today and everyone should make a run on the banks before it's too late?
Perhaps just the beginning of these co-conspitrator US companies being hoist on their own petards. (One can hope.)
And you wonder why Germany wanted it's gold back? The US Fed didn't have it. Germany knows it.
The US Fed wants to buy it much cheaper.
Just click on http://www.boc.cn/en/# and than on personal banking login and you get: temporary suspended service.
http://www.echinacities.com/news/ICBC-Suffers-System-Failure-on-Jun-23-S...
System upgrades were probably tearing out every bit of US tech from the networks and locking it all down.
http://www.boc.cn/en/bocinfo/bi1/201306/t20130621_2325738.html
Bank of China solemnly stated: the Bank never had monetary defaults
2013-06-20
An official of Bank of China expressed late this evening: the Bank has never defaulted on any fund payment and fulfilled all of the outbound payments on June 20 in a timely manner. Relevant media reports and market rumors seriously distorted the facts and are totally untrue. The Bank reserves its rights to pursue legal action towards those institutions and individuals who maliciously fabricate and spread rumors against BOC.
The Bank of China defaulted. Sue me you, you yellow Commie bastards.
The BOC website spits a javascript alert if you are NOT USING Internet Explorer. LMFAO.
I am sure it was a just Basel III upgrade, nothing to see here. Excuse me General Alexander, would you like to comment and the China banking failure that caused several outages?
sheeeeshya!
Apple's going to be pissed that they didn't repatriate their RMB earnings when this epic printing fiesta finally gets going in China.
Software upgrade gliches while upgrading to snowdensoft v:2.
I believe it actually translated as follows:
"All your deposits are belong to us"
"--at 11:27, various business all return to normal"----as soon as we took the shock paddles off his chest, he jumped right up and started doing push-ups; honest ! Well, think goodness, there's no real problem, then.
"all Silver Futures operations are stopped"/ thanks a lot dickwad, that's a big help.
Art 'drown the cubes' Cashin just referred to this article post as: "rumor-mongers"!!!:)
"Please, do not worry."
I guess I picked a bad week to invest in China :-) Thanks Tyler for the warning. Zero Hedge continues to Rock & Roll.
This is most likely not cyberwar.
A crash in China is the last thing the US would want as it would put the lie to the phony US "recovery." The terminals, on-line banking, and ATMs are probably frozen because 1.3 billion Chinese are trying to get their money out of banks simultaneously.
This may be evidence of a widespread bank run.
The world is bigger than the US and China, there are other players
Which of the other governments aren't following the same phony "recovery" path the US is and aren't similarly dependent upon China to do so? Also, see my post below.
China’s alarming credit crunch - 23 Jun 13
http://www.marketwatch.com/story/chinas-alarming-credit-crunch-2013-06-23
"On the face of it, slamming the brakes on credit appears a questionable policy when economic growth is already slowing and inflation is seemingly stable. What’s more, would the central bank really engineer a cash-crunch that sent overnight interbank rates to 13% and effectively froze the interbank market?
At the very least, this appears a reckless way to instill market discipline: It risks one default or rumor triggering unintended, wider systematic problems.
Yet China’s central bank will be cut some slack on the view that last week’s action was planned."
Yeah, right. "Planned." Bank run!
"...three blue-chip Chinese companies -- Petro China, China Mobile and Yanzhou Coal -- are trading near 52-week lows, points out Brad Lamensdorf, chief investment officer of the Lamensdorf Market Timing Report. All three stocks peaked in January and have been skidding ever since. Given the key role China plays in the global economy, “this looks like a bad sign for US stocks,” Lamensdorf said. Interestingly, he adds, these Chinese stocks broke down before the Shanghai Composite Index hit a 52-week high in mid-February."
http://www.marketwatch.com/story/7-ways-to-spot-a-market-top-2013-06-24
nothing to say I may be back to break even on gold, after another 50%
listen bitchez
http://youtu.be/cGtjr-U5bT4?t=8s
Anybody here trade with Forex Kong? He's got it that U.S equities as well US Dollar take a larger hit together here over the summer months. Loves China.
http://www.forexkong.com ?
Bet, Snowden is in the Equadoran Embassy in Vietnam. Next stop Quito.
No mention of this at all on Caijing's English language web page.
http://english.caijing.com.cn/finance_economy-n1/
Did the Tyler's fall for a sucker punch in this round of Fight Club?
No. Why would they perpetuate this further and make things worse?
http://english.caijing.com.cn/2013-06-20/112930190.html It's 2004 yo.