JPMorgan: We Are Fast Approaching The Point Where Banks Run Out Of Liquidity

Discussion in 'Wall St. News' started by Banjo, Apr 28, 2019.

  1. https://www.scmp.com/business/banki...ks-quietly-lower-daily-limit-foreign-currency

    The issue was thrust into the spotlight on Friday when a viral video clip showed a bank cashier unable to answer a furious customer demanding to know why she was not allowed to withdraw US$200 from her dollar-denominated account, even though she was within her quota.

    The client was so incensed by the refusal that she filmed the incident on her phone at the unidentified branch of China Merchants Bank (CMB).

    She also asked why the bank insisted she could only withdraw her US dollar savings by converting into yuan, the Chinese currency. The cashier seemed caught off guard, unable to address the woman’s questions.

    She could only withdraw her US Dollar savings by converting into yuan, aka Bank Bail In... If that's not a sign it's game over, I don't know what is... Look into Hong Kong also, China Central Bank robbed there Foreign Reserves, HK raising Interbank like crazy to increase inflow of dollars at expense of Banking System, seems stupid to do if you truly have large Foreign Reserves like HK claims to have to defend HK Currency... China looted them basically, but the really really scary part, China CB and Dealers engage in a whole lot of Dollar swaps in International Markets, and I wouldn't be surprised seeing a main bank even Default on one of those. Once you start robbing the citizens of their US Dollars, you are at the Final Chapter in the cycle, next few pages is defaults in US Dollars
     
    Last edited: May 5, 2019
    #11     May 5, 2019