British Money-Changer Imposes Capital Controls, Suspends Online FX Transactions

Tyler Durden's picture

Yesterday it was physical lines as people 'queued' for hours to exchange their pounds sterling for anything else.

Perhaps more should have done the same and exchanged their far more valuable - yesterday - pounds sterling, than waiting until today's historic devaluation.

Not only that, but they may not be able to do it today. As The FT reports UK-based travel group Thomas Cook has suspended its online currency purchases and imposed a £1000 limit on transactions at its high street branches due to an unforseen demand for euros, a soft form of capital controls as FX service providers run out of "harder" currencies.

Having alreay warned yesterday that...

  “There’s been a surge in customers buying euros in the last six weeks and euro sales have been consistently strong, building day by day.”

... The leading money-changer's statement added today:

We have temporarily suspended our travel money website following unprecedented customer demand for foreign currency overnight and this morning.

 

We apologise to all customers affected.

 

Our immediate priority is to ensure that we have enough currency in store to fulfill outstanding orders.

 

We hope to be back up and running as soon as possible.

Is this the beginning of more than just "soft" capital controls?

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Croesus's picture

Kill The Bankers!!! 

Kill The Politicians!!!

Kill The Elitists!!! 

 

knukles's picture

I'm sorry, but they've lost me.  Buy Euros when the EU's the root source of the problem; the NWO, Bilderberger Illuminati and their Banker, Big Pharmna, Big Ag, etc., financial enablers?
The only conclusion that I can come to is that TPTB are gonna fuck with markets, etc., to make this appear to be Terminal Cancer, Incarnate.

LowerSlowerDelaware_LSD's picture

Thank you, Brits, for helping us start the road to normalcy (popped bubbles).  At least one can hope...

MillionDollarBonus_'s picture

Kamil is a poor Polish immigrant who has been living in the UK for over a year. He lives with his wife and six children in a home provided by the British government, and depends on welfare payments and the NHS to cover his family's living expenses. Because of Britain's choice to leave the EU, Kamil and his family may now be forced to return to Poland, where they will have to support themselves on a fraction of their current income. Shame on you Brexiters; you are directly responsible for Kamil's hopeless situation!

VinceFostersGhost's picture

 

 

Until further notice....there will be no fun of any kind in England.

 

That is all for now...

 

Except.....we don't even know who's running the damn country right now.

kliguy38's picture

This vote is all CONtrived by the very top of the pyramid. The purpose is to establish London as the central banking power (just the opposite of what they are saying)...with London clear of the EU it can now dominate the shift to the East and the developing world and of course it already has its own currency FREE of the liabilities of the EU....and those liabilities will sink Germany and the EU......THIS VOTE IS NOT AN ACCIDENT. The boyz are PREparing

Silver Swan's picture

Let them eat shepherd's pie!

CheapBastard's picture

Reports have it that a dozen young tender pigs were delivered to PM Camerin's residence today .....

giovanni_f's picture

First I thougt Angela Merkel would be among them but on second reading I noticed the pigs were young and tender

COSMOS's picture

Its a broken market whenever things dont go the way the Squids want it. Last time we fell for 'broken' market they got one trillion dollar TARP bailout. I think what happened here is that the squids stand to lose a lot of money since they misjudged the vote, same as what happened with 2008, they froze the markets refusing to process any transactions. Look out for bailouts for the redshields. Too bad they aren't all thrown in jail for not processing transactions.

The Shadow Broker's picture

Jeremy Clarkson's Amazon Top Gear show will be on in the fall...that sounds like fun.

Ghordius's picture

yeah, call me again when Kamil will be sent back to Poland, MDB. that name, btw, it reminds me names from the Subcontinent, not the Continent

Miles Ahead's picture

Yeah, well remember the name.  And all the others it reminds you of.

Soon the Continent will be annexed by the Subcontinent.  Sooner than you expect.

Sorry to be the bearer of bad news mate.

401K of Dooom's picture

No body made "Kamil" move to England to live on government assistance.  You can drop the sympathy pitch now.  Also, "Kamil" is the strangest Polish name I have ever heard. 

LowerSlowerDelaware_LSD's picture

Funny how the "compassionate ones" are only "compassionate" when handing out OTHER PEOPLE'S MONEY!

Ask them to give their own money - out of compassion, of course - and it's "HELL NO!!!!"

Just look at the almost-BILLIONAIRE-by-government-quid-pro-quo, Hillary(!) for example.

Consuelo's picture

+10000 MDB

 

You are firing on all cylinders today ---  

 

 

 

CheapBastard's picture

APMEX ships overseas or stores it for them...you'd think they'd be grabbing all they could get. Look how happy the Canadians and Australians are who bought gold before their paper currency's value plunged over 40%.

 

The Canadians and Australians who invested/saved their money in gold coins.bars/etc are sitting pretty. That's why the Chinese and Indians store it as value for centuries; they have been burned so many times they know the importance of gold.

Consuelo's picture

I'm long on Chopsley...    He's gonna be busy.

jcaz's picture

The Overlords are nervous.....

knukles's picture

For all I care they can go play with themselves.
My long term trade of long long bonds and gold is working out very fucking nicely, thank you very much.

But they are screwing with this.  Major.

They are not comfortable.  At all.  Way too much free teat juice at the upper echelons at steak. 

kliguy38's picture

of course they will but the commercial longs on the Commy just shit themselves

brushhog's picture

Its all short term thinking. Yes the pound will take a dive intially but once the dust settles the pound is going higher, and the euro is going down.

knukles's picture

Agreed.
And thank you.  I was beginning to wonder if I'd gone starkers yet!

Winston Churchill's picture

I rember it going down to 1.05 and as high as 2.40.That what hedges(PMs) are for.

Its been volatile basically since Suez.

So what ?

knukles's picture

Suez!  Ah the good olde days.  Days of partitioning the Middle East for our own benefit, bollockings things up in Palestine and the hand-off to the unsuspecting Yanks.
Back in the days when the lads in the FCO were second to none, eh what, Winnie?
 
I say, half-sixish, dinner at White's?
Jolly good!

Ayreos's picture

The paesants always scream for rich-man's murder, then unsurprisingly become the worst wealthy class when they fullfill their aspirations. How do you keep excessive wealth away from the pockets of the weak and the morose? Hint: it's quite opposite to communism.

wildbad's picture

YAAAAWN...big deal..this is what markets do, at least unmanipulated ones.

 

there will be a corresponding rush back into the pound as soon as the jitters are calmed.

 

no worries mate.

chunga's picture

A rush back into paper ballots too.

Whalley World's picture

I am with you there, the vampire EU is off the British throat and the pound should be up on its newly earned emacipation from their beaurocratic overlords.

Ghordius's picture

knukles: "I'm sorry, but they've lost me.  Buy Euros when the EU's the root source of the problem; the NWO, Bilderberger Illuminati and their Banker, Big Pharmna, Big Ag, etc., financial enablers? The only conclusion that I can come to is that TPTB are gonna fuck with markets, etc., to make this appear to be Terminal Cancer, Incarnate."

ah, there you have it. why do you think that the EU is the root source of the problem?

meanwhile, do you remember that the eur is the currency of a group of nineteen countries, while the EU is twenty-eight, soon twenty-seven countries?

meanwhile, do you remember that the EU parliament even went so far to cap the bonuses of bankers, period? is that a sign of being all for Big Banking?

fact is that the EUR is more stable then the Pound under the shock of BreXit. remember.... stabeeeleeeeteeee?

as long as you see the world in two colours only, some stuff will be hidden for you even in plain sight... because red, green and yellow look exactly the same shade of gray

Philo Beddoe's picture

Pot meet kettle. Kettle meet pot. 

Ghordius's picture

it's nineteen pots and it's twentyseven kettles. they might look all the same... to you

MarsInScorpio's picture

Gordius:

 

You're an inmate at a facility for the criminally insane, right? They committed you because you are completely disconnected from reality, right again?

 

The EU is nothing but the German European Empire conquered using financial weapons instead of military ones. It is a totalitarian regime enforced through it's willingness to allow it's vassal states to see their citizens literally set themselves on fire to escape the hopelessness the German rules creates.

 

Merkel is still a ruthless Communist a la Stalin, completely prepared to slaughter millions through "austerity" - and completely wipe the European culture off the face of the Earth through Islamic invasion if that is what it takes to create the "New Man" of her life's commitment.

 

You are an evil, sick, supporter of European Cultural Genocide. Instead of gas chambers and ovens, you use Euros and the abandonment of Cultural Integrity.

 

Burn in Hell, Gordius.

 

Ghordius's picture

right. and that's the reason why I make the right calls, eh? my "disconnection from reality". you had me at "slaughter millions..."

peddling-fiction's picture

you had me at "slaughter millions..."

WTF

Benjamin123's picture

Its pretty clear that Gordo is denouncing the hyperbole of "slaughter millions" casually thrown as an accusation. Gordo killed millions, Merkel killed millions?

Ghordius's picture

exactly. I slaughter billions. that millions is for piss-ant small fry dictators

peddling-fiction's picture

That would be accurately expressed with you lost me at  instead of you had me at, which means quite the opposite.

Consuelo's picture

 

 

 Look no further than the coordinated NATO exercises taking place near Russian borders and the sheer size/scope of Ramstein AFB, to determine just who ulimately calls the shots in the European theatre of influence.

buzzsaw99's picture

gotta disagree. no way in hell the euro is more stable than the pound. all those countries you mention are part of the problem. any currency that france, spain, and greece are involved with i don't want any part of. if it were just german marks i would be a buyer, the same way i would buy pounds over the next six months. the markets were already overbought, this is just panic selling for profit by soros et al.

Ghordius's picture

"no way in hell the euro is more stable than the pound"

well, today it is obviously more stable, price-wise then the Pound

further, this year it will be bigger, still, which makes it automatically more price stable

but we could discuss how much gold the BoE would be willing to throw in, or which FX reserves and...

... go to the heart of the matter: willingness to keep it stable... where the BoE has proven very often to do what leveraged RE-heavy Britons actually prefer

buzzsaw99's picture

yes, today, short term perhaps. but why is the dax down 6% and the ftse only down 2.5%? long term the euro is doomed. what is it now $1.11? what was it 5 years ago? the pound has been around a LOOOOOOOONNNNNGGGG TIME. the euro will be lucky to last another ten years imo.

dark pools of soros's picture

most are little shitstain countries in that group being enslaved with debt..  big fucking deal.  They are eating their young and will end with public assets going to banksters and cronies

 

trippy64's picture

or maybe that was the assumption, and they were getting out of the euro, but should have waited. Yes, the Eiro seems to be the thing that one would want to be pout of, so TPTB are manipulating it for now till all is lost.

Bank_sters's picture

Are  you suggesting that the largest wave of retirees in the history of the planet will NOT get their promised pension, 401k, social security, and stock market payout?  Or are you saying that their homes will be foreclosed as they get shafted out of the aforementioned shortfall. Please clarify.

 

In other news, Italian and Spanish markets are down close to 12 percent.  Green shoots.  Deutsche bank, time for a capital infusion>