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Bank Of China Declares Moratorium On Transfers, Online Banking; Counters Inoperable

Tyler Durden's picture




 

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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Mon, 06/24/2013 - 08:59 | 3686413 ZeroPoint
ZeroPoint's picture

Yep. Just like a 'wardrobe malfunction', 'kinetic military action', or 'jobless recovery'. Please let the collapse begin.

 

Mon, 06/24/2013 - 10:05 | 3686669 astoriajoe
astoriajoe's picture

merely a flesh wound..

Mon, 06/24/2013 - 12:05 | 3687311 Bam_Man
Bam_Man's picture

...in fleshy part of heart....

Mon, 06/24/2013 - 10:35 | 3686836 Meat Hammer
Meat Hammer's picture

glitches bitchez

Mon, 06/24/2013 - 10:40 | 3686861 lakecity55
lakecity55's picture

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.

Mon, 06/24/2013 - 08:36 | 3686303 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Needs more stuxnet.... Can you say cyberwar. First downgrade Hong Kong now this.

Mon, 06/24/2013 - 13:57 | 3687888 Dr. Bonzo
Dr. Bonzo's picture

Yeah... China has about 3 trillion reasons why that wouldn't be in the US's best interest if it were even remotely true.

Mon, 06/24/2013 - 08:36 | 3686304 robertocarlos
robertocarlos's picture

Vancouver real estate just took a big hit. The Chinese were paying cash.

Mon, 06/24/2013 - 08:36 | 3686306 PaperBear
PaperBear's picture

"silver futures ... suspended" - WHAT THE F**K ????!!!!

Mon, 06/24/2013 - 08:41 | 3686314 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

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.

Mon, 06/24/2013 - 08:57 | 3686397 KickIce
KickIce's picture

All I get is SNAFU and FUBAR.

Mon, 06/24/2013 - 10:13 | 3686718 NoTTD
NoTTD's picture

How many upvotes am I allowed for this post?  

Mon, 06/24/2013 - 10:38 | 3686849 el Gallinazo
el Gallinazo's picture

A very Wimpy post :-)

Mon, 06/24/2013 - 08:37 | 3686311 b_thunder
b_thunder's picture

"system failures, ATM machines, POS machines, online banking appeared paralyzed" - NSA says "Hello", wants their man back ASAP.

 

/ Stuxnet 2.0 /

 

Mon, 06/24/2013 - 08:39 | 3686318 the not so migh...
the not so mighty maximiza's picture

China: Thats ok we got 5 times more gold then we ever told you about

Mon, 06/24/2013 - 08:43 | 3686329 francis_sawyer
francis_sawyer's picture

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!'...

Mon, 06/24/2013 - 08:53 | 3686380 tmosley
tmosley's picture

I wonder if the NSA knows what will happen if China were to dump US Treasuries onto the market?

Mon, 06/24/2013 - 09:28 | 3686508 francis_sawyer
francis_sawyer's picture

Yes ~ They've 'scenario'd' that and have come up with an algo...

~~~

DIVIDE BY ZERO

Mon, 06/24/2013 - 09:43 | 3686566 Savvy
Savvy's picture

Thye already did, in the form of collateral for loans from US banks and pension funds :rofl:

Mon, 06/24/2013 - 11:51 | 3687252 matrix2012
matrix2012's picture

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...

 


Mon, 06/24/2013 - 12:16 | 3687351 blabam
blabam's picture

Webster Tarpley is a raging socialist. I don't listen to Statists. 

Mon, 06/24/2013 - 08:42 | 3686327 g'kar
g'kar's picture

Now that is funny

Mon, 06/24/2013 - 08:42 | 3686328 Haus-Targaryen
Haus-Targaryen's picture

Oh rearwrie?  Rie srell all aure JGBs.  MAD bietchez  

Mon, 06/24/2013 - 08:48 | 3686360 sumo
sumo's picture

It is time for a Team America sequel. Fuck yeah!

Mon, 06/24/2013 - 11:59 | 3687283 Winston Smith 2009
Winston Smith 2009's picture

"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.

Mon, 06/24/2013 - 08:40 | 3686322 Peter Pan
Peter Pan's picture

If the situation is as ad as the translation then we are in for some real turbulence.

Mon, 06/24/2013 - 08:40 | 3686323 Kina
Kina's picture

No silver for you...

 

tonto

Mon, 06/24/2013 - 08:41 | 3686325 Downtoolong
Downtoolong's picture

I wonder if Chinese requests for Cyprus Visas are on the rise?

Mon, 06/24/2013 - 08:44 | 3686339 GetZeeGold
GetZeeGold's picture

 

 

China is shipping us cars.....and we're shpping them boats.

Mon, 06/24/2013 - 08:42 | 3686330 K_I_T_T_Y
K_I_T_T_Y's picture

Maybe the US are hacking China as a retaliation....

Mon, 06/24/2013 - 08:55 | 3686392 Gringo Viejo
Gringo Viejo's picture

Maybe they is.

Mon, 06/24/2013 - 08:42 | 3686331 philosophers bone
philosophers bone's picture

CNBC guest early this morning said China not that important to US as the US does not sell anything there.

Mon, 06/24/2013 - 08:44 | 3686337 Monedas
Monedas's picture

Buicks !

Mon, 06/24/2013 - 08:58 | 3686403 quasimodo
quasimodo's picture

Typical of a narrow minded fuck on CNBC

Mon, 06/24/2013 - 09:03 | 3686423 Gringo Viejo
Gringo Viejo's picture

That's definitely a look good for his schill report card.

Mon, 06/24/2013 - 09:44 | 3686495 Money 4 Nothing
Money 4 Nothing's picture

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?

Mon, 06/24/2013 - 09:49 | 3686595 TuesdayBen
TuesdayBen's picture

That is bullshit, we sell 'em a ton of wild North American ginseng.  So there.

Mon, 06/24/2013 - 10:07 | 3686682 ThisIsBob
ThisIsBob's picture

Didn't we used to sell the suckers bonds?

Mon, 06/24/2013 - 12:06 | 3687316 Winston Smith 2009
Winston Smith 2009's picture

"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...

Mon, 06/24/2013 - 08:43 | 3686333 Monedas
Monedas's picture

"Whore-atorium" on bankers !

Mon, 06/24/2013 - 08:44 | 3686338 hmmmstrange
hmmmstrange's picture

See what happens when you don't hand over Snowden.....

Mon, 06/24/2013 - 10:39 | 3686856 Meat Hammer
Meat Hammer's picture

This is the new warfare....who can fuck whom the hardest from their cubicle farm.

Mon, 06/24/2013 - 11:38 | 3687145 ParkAveFlasher
ParkAveFlasher's picture

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.

Mon, 06/24/2013 - 08:45 | 3686344 maxmad
maxmad's picture

This is not going to end well!  China just pulled the plug

Mon, 06/24/2013 - 08:47 | 3686356 reload
reload's picture

And Gold gets slammed again......

Mon, 06/24/2013 - 08:55 | 3686386 greatbeard
greatbeard's picture

That's slammed?  You are either very new at this, and should stand aside, or a propagandist.

Mon, 06/24/2013 - 08:58 | 3686406 Monedas
Monedas's picture

"The end .... justifies the means !" ....  Mao ?

Mon, 06/24/2013 - 08:45 | 3686345 Central Wanker
Central Wanker's picture

Just a computer glitch, I think.

Or then not.

Mon, 06/24/2013 - 08:46 | 3686346 Ribeye
Ribeye's picture

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,

Mon, 06/24/2013 - 08:50 | 3686367 chubbar
chubbar's picture

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.

Mon, 06/24/2013 - 09:07 | 3686436 Jendrzejczyk
Jendrzejczyk's picture

Those bonds will be declared forgeries and not honored.

Mon, 06/24/2013 - 11:39 | 3687173 ParkAveFlasher
ParkAveFlasher's picture

Great book: "Gold Warriors" ... +1

Mon, 06/24/2013 - 10:47 | 3686884 Meat Hammer
Meat Hammer's picture

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.

Mon, 06/24/2013 - 09:11 | 3686448 disabledvet
disabledvet's picture

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!

Mon, 06/24/2013 - 09:35 | 3686537 MassDecep
MassDecep's picture

I'm just hoping my next shipment of PM's makes it to my house before all breaks loose!!

Mon, 06/24/2013 - 12:53 | 3687504 francis_sawyer
francis_sawyer's picture

I just checked with the NSA & they told me to tell you it's on the boat as we speak...

Mon, 06/24/2013 - 08:47 | 3686353 Apostate2
Apostate2's picture

Cyberwar

Mon, 06/24/2013 - 08:47 | 3686354 RaceToTheBottom
RaceToTheBottom's picture

That mattress is looking better and better....

Mon, 06/24/2013 - 09:19 | 3686474 philosophers bone
philosophers bone's picture

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".

 

Mon, 06/24/2013 - 10:52 | 3686907 BigJim
BigJim's picture

+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. 

Mon, 06/24/2013 - 11:32 | 3687135 constantine
constantine's picture

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.

Mon, 06/24/2013 - 12:14 | 3687340 imbrbing
imbrbing's picture

I had to go out this weekend to purchase my third mattress. 

Mon, 06/24/2013 - 08:48 | 3686358 Fred123
Fred123's picture

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.

Mon, 06/24/2013 - 09:07 | 3686428 Divine Wind
Divine Wind's picture

 

 

 

Lao Shur, Ne shur weigworen. Tamen mayo chen.

Mon, 06/24/2013 - 12:13 | 3687339 FreedomGuy
FreedomGuy's picture

Wo yao pijoh

Mon, 06/24/2013 - 08:49 | 3686362 WHATDIFFERENCED...
WHATDIFFERENCEDOESITMAKE's picture

If this in anyway is a Stutnex for Snowden, its time to shut this mongoose down. Got Gold?

Mon, 06/24/2013 - 08:54 | 3686379 Inthemix96
Inthemix96's picture

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?

Mon, 06/24/2013 - 09:07 | 3686434 Ribeye
Ribeye's picture

Mmmmmm, Apocolypse Horseburgers.......slurp,

Mon, 06/24/2013 - 09:56 | 3686631 Bearwagon
Bearwagon's picture

Would you like some appropriate music with that?  ;-)

Aphrodite's Child: 'The Four Horsemen'

http://www.youtube.com/watch?v=selfqEH-JnY

Mon, 06/24/2013 - 09:53 | 3686618 TuesdayBen
TuesdayBen's picture

One Ed J. Snowden rides onto the world stage atop a Black Swan???

Mon, 06/24/2013 - 10:42 | 3686874 IridiumRebel
IridiumRebel's picture

We need a signal or something so we know who the ZHers are in the crowd. 

Mon, 06/24/2013 - 10:49 | 3686903 Meat Hammer
Meat Hammer's picture

Let's have t-shirts made with our avatars on them. I shouldn't be hard to spot....nor should BigHairyBalls.  

Mon, 06/24/2013 - 10:54 | 3686924 Inthemix96
Inthemix96's picture

That 'Tache' I sport will be a dead giveaway Meat Hammer.

See you on the other side mate.

:-)

Mon, 06/24/2013 - 11:51 | 3687236 Hulk
Hulk's picture

Last time I placed my head down and arse up, someone parked a bicycle...

in my ass crack...

Mon, 06/24/2013 - 08:54 | 3686382 laomei
laomei's picture

System upgrades

Mon, 06/24/2013 - 08:55 | 3686385 orkneylad
orkneylad's picture

Confucius say… to solve problem, dig at roots not hack at leaves.

Mon, 06/24/2013 - 08:56 | 3686394 Ban KKiller
Ban KKiller's picture

Cash is king...ask the Cypriots. HARD assets? We don't need no tangible...well ok, we do.  Keep clam....as Iver says.

Mon, 06/24/2013 - 11:06 | 3686995 Conax
Conax's picture

If I were any clammer I'd be in a camo.

Mon, 06/24/2013 - 08:58 | 3686398 MountainMan
MountainMan's picture

Get long the metals, bitchez.

Mon, 06/24/2013 - 08:58 | 3686404 apberusdisvet
apberusdisvet's picture

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.

Mon, 06/24/2013 - 09:47 | 3686583 Nue
Nue's picture

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.

Mon, 06/24/2013 - 10:22 | 3686758 walküre
walküre's picture

God only knows what would be left standing after it.

zee gold perhaps?

 

Mon, 06/24/2013 - 10:42 | 3686872 francis_sawyer
francis_sawyer's picture

There is no Bernank... There is only the Annunaki...

Mon, 06/24/2013 - 09:46 | 3686585 Nue
Nue's picture

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.

Mon, 06/24/2013 - 10:03 | 3686656 kralizec
kralizec's picture

So?

Mon, 06/24/2013 - 10:07 | 3686683 Money 4 Nothing
Money 4 Nothing's picture

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. 

Mon, 06/24/2013 - 09:02 | 3686422 Aurora Ex Machina
Aurora Ex Machina's picture

3, 2, 1 until someone blames someone for cyberwarfare.

Mon, 06/24/2013 - 09:25 | 3686466 enoch_root
enoch_root's picture

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'.

Mon, 06/24/2013 - 10:28 | 3686794 lakecity55
lakecity55's picture

Smithers: What now, Gen ALex?

Alex: We must destroy the world or it cannot be saved. Throw the kill switch, Smithers!

Mon, 06/24/2013 - 10:06 | 3686673 tip e. canoe
tip e. canoe's picture

Impossible!

Mon, 06/24/2013 - 10:51 | 3686908 kurt
kurt's picture

Incontheivable!

Mon, 06/24/2013 - 11:05 | 3686991 Money 4 Nothing
Money 4 Nothing's picture

Preposterous! !!

Mon, 06/24/2013 - 09:07 | 3686433 Michelle
Michelle's picture

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!

Mon, 06/24/2013 - 09:07 | 3686435 fijisailor
fijisailor's picture

Smells like a bank run into gold

Mon, 06/24/2013 - 09:07 | 3686438 reginald
reginald's picture

"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."

Mon, 06/24/2013 - 09:17 | 3686467 sumo
sumo's picture

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!

Mon, 06/24/2013 - 10:26 | 3686779 lakecity55
lakecity55's picture

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?????"

Mon, 06/24/2013 - 09:12 | 3686451 asscannon101
asscannon101's picture

"'Tis merely a flesh wound!"

Mon, 06/24/2013 - 09:18 | 3686464 g'kar
g'kar's picture

in the heart

Mon, 06/24/2013 - 09:24 | 3686487 Zola
Zola's picture

USSA! USSA! USSA!

Mon, 06/24/2013 - 09:56 | 3686627 TuesdayBen
TuesdayBen's picture

Doesn't really roll of the tongue quite the same, IMO...

Mon, 06/24/2013 - 09:32 | 3686526 Never One Roach
Never One Roach's picture

Please ! Don't pull my Yang!!

Mon, 06/24/2013 - 09:38 | 3686549 Jake88
Jake88's picture

We are ruled by psychopaths with nuclear weapons.

Mon, 06/24/2013 - 09:51 | 3686607 Harry Dong
Harry Dong's picture

You have a mouse in your pocket?

 

Mon, 06/24/2013 - 10:19 | 3686624 ziggy59
ziggy59's picture

"Official Space helmet on, oh Captain Video" -Ed Norton, Honeymooners

Mon, 06/24/2013 - 10:07 | 3686685 PaperWillBurn
PaperWillBurn's picture

Bitcoin users not affected

Mon, 06/24/2013 - 10:28 | 3686795 IridiumRebel
IridiumRebel's picture

Gold holders unaffected....plus I hear there is a sale currently!

Mon, 06/24/2013 - 10:56 | 3686935 PaperWillBurn
PaperWillBurn's picture

Indeed. Buy it while paper still prices physical..at this rate it may not last very long.

Mon, 06/24/2013 - 10:09 | 3686693 NoTTD
NoTTD's picture

Velly, Velly intelesting, glasshopper.

Mon, 06/24/2013 - 10:13 | 3686714 Quinvarius
Quinvarius's picture

Now is the time for China to announce they are bidding 5k an ounce of gold and pegging their currency to recap their system.

Mon, 06/24/2013 - 10:13 | 3686717 orangegeek
orangegeek's picture

okay, now who wants an empty city?

 

perhaps an empty shopping mall?

 

very cheap.  good quality.

Mon, 06/24/2013 - 11:34 | 3687141 Lebensphilosoph
Lebensphilosoph's picture

Vely good. Built from Chairman Mao's steel.

Mon, 06/24/2013 - 10:15 | 3686728 insanelysane
insanelysane's picture

It feels like only yesterday when we were actually relying on China to buy everything US.

Mon, 06/24/2013 - 10:20 | 3686751 q99x2
q99x2's picture

Pork Fried Rice.

Mon, 06/24/2013 - 10:27 | 3686789 yogibear
yogibear's picture

Bernanke stood up in the press conference and said sell to Wall Street and his bankster minions.  Their unloading.

Mon, 06/24/2013 - 10:28 | 3686793 Meat Hammer
Meat Hammer's picture

I'll ask my friends and family if I can outfit them with a tinfoil hat now.

Mon, 06/24/2013 - 11:54 | 3687269 Hulk
Hulk's picture

We use gold foil hats around here, we like the way they scatter alpha particles !!!

Mon, 06/24/2013 - 10:34 | 3686828 goldinpenguin
goldinpenguin's picture

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. 

Mon, 06/24/2013 - 12:30 | 3687411 CuttingEdge
CuttingEdge's picture

Better still, halt production of Iphones - that would be bound to cause mass panic...

Mon, 06/24/2013 - 10:35 | 3686831 moskov
moskov's picture

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.

 

Mon, 06/24/2013 - 10:54 | 3686923 Meat Hammer
Meat Hammer's picture

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?

Mon, 06/24/2013 - 12:36 | 3687444 ThisIsBob
ThisIsBob's picture

Perhaps just the beginning of these co-conspitrator US companies being hoist on their own petards.  (One can hope.)

Mon, 06/24/2013 - 10:38 | 3686850 yogibear
yogibear's picture

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.

Mon, 06/24/2013 - 10:46 | 3686885 Karl Napp
Karl Napp's picture

Just click on http://www.boc.cn/en/# and than on personal banking login and you get: temporary suspended service.

Mon, 06/24/2013 - 11:31 | 3687122 laomei
laomei's picture

System upgrades were probably tearing out every bit of US tech from the networks and locking it all down.

Mon, 06/24/2013 - 11:32 | 3687110 IridiumRebel
IridiumRebel's picture

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.

Mon, 06/24/2013 - 12:02 | 3687300 Lebensphilosoph
Lebensphilosoph's picture

The Bank of China defaulted. Sue me you, you yellow Commie bastards.

Mon, 06/24/2013 - 12:57 | 3687530 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

The BOC website spits a javascript alert if you are NOT USING Internet Explorer.  LMFAO.

Mon, 06/24/2013 - 11:02 | 3686979 Crash Overide
Crash Overide's picture

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?

 

 

Mon, 06/24/2013 - 11:19 | 3687057 resurger
resurger's picture

sheeeeshya!

Mon, 06/24/2013 - 11:28 | 3687105 constantine
constantine's picture

Apple's going to be pissed that they didn't repatriate their RMB earnings when this epic printing fiesta finally gets going in China.

Mon, 06/24/2013 - 11:32 | 3687136 sudzee
sudzee's picture

Software upgrade gliches while upgrading to snowdensoft v:2.

Mon, 06/24/2013 - 11:36 | 3687158 I_Rowboat
I_Rowboat's picture

I believe it actually translated as follows:

  "All your deposits are belong to us"

Mon, 06/24/2013 - 11:37 | 3687161 SAT 800
SAT 800's picture

"--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.

Mon, 06/24/2013 - 11:39 | 3687172 SAT 800
SAT 800's picture

"all Silver Futures operations are stopped"/  thanks a lot dickwad, that's a big help.

Mon, 06/24/2013 - 11:45 | 3687211 ChaosEquilibrium
ChaosEquilibrium's picture

Art 'drown the cubes' Cashin just referred to this article post as:  "rumor-mongers"!!!:)

Mon, 06/24/2013 - 11:48 | 3687225 Satan
Satan's picture

"Please, do not worry."

Mon, 06/24/2013 - 11:55 | 3687272 Mike Cowan
Mike Cowan's picture

I guess I picked a bad week to invest in China :-) Thanks Tyler for the warning. Zero Hedge continues to Rock & Roll.

Mon, 06/24/2013 - 12:15 | 3687328 Winston Smith 2009
Winston Smith 2009's picture

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.

Mon, 06/24/2013 - 12:19 | 3687368 SmittyinLA
SmittyinLA's picture

The world is bigger than the US and China, there are other players  

Mon, 06/24/2013 - 12:28 | 3687399 Winston Smith 2009
Winston Smith 2009's picture

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.

Mon, 06/24/2013 - 12:25 | 3687386 Winston Smith 2009
Winston Smith 2009's picture

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!

Mon, 06/24/2013 - 12:38 | 3687447 Winston Smith 2009
Winston Smith 2009's picture

"...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

Mon, 06/24/2013 - 12:49 | 3687478 enloe creek
enloe creek's picture

nothing to say  I may be back to break even on gold, after another 50% 

 

listen bitchez

 

http://youtu.be/cGtjr-U5bT4?t=8s

Mon, 06/24/2013 - 12:49 | 3687480 Rocket De Stock
Rocket De Stock's picture

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 ?

Mon, 06/24/2013 - 12:50 | 3687484 Hannibal
Hannibal's picture

Bet, Snowden is in the Equadoran Embassy in Vietnam. Next stop Quito.

Mon, 06/24/2013 - 13:00 | 3687553 el Gallinazo
el Gallinazo's picture

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?

Mon, 06/24/2013 - 13:07 | 3687572 IridiumRebel
IridiumRebel's picture

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.

Do NOT follow this link or you will be banned from the site!