sent into me today
Just back from a week in Turkey …Had a great time…. Hope you are well.
Did you catch this item from Jim Willie?
BANK RUNS SPREAD, NOT YET LIKE WILDFIRE
Europeans are seeing scattered and growing bank runs, in at least four nations. The United States and London have not seeing anything similar. The bank run phenomenon has hit Great Britain though, in their colonial bastion of Northern Ireland. The three identified locations of bank runs, complete with anecdotal evidence, can be delineated. It includes Bankia in Spain, which is a well-publicized story of halted withdrawals, followed by a nationalization plan, then an absurd display of honesty. The bank revised the full 2011 fiscal year to overturn a small profit, and announced instead a gargantuan loss in the $billions. One should suspect all big Spanish bank balance sheets as a shelf of dishonest accounting, hiding their grotesque insolvency and wreckage, with deep rot in the cupboards. Banks in Central America shine by comparison.
Reports circulated a couple weeks ago of blocked withdrawals from Banque Postale in France. Online bank wire transfers were completely halted. The Hat Trick Letter reported in May that high wealth accounts had been vacating Paris in search of Scandinavian safer grounds. The run has continued. Other reports have come that BNI depositors in Italy were told of blocked withdrawals. The bank went bust, without any decency to give any warning to its own clients. Instead it cut off its depositors from accessing their money. The Bank of Italy (cental bank) authorized the suspension of payments by Bank Network Investments without communicating anything to the depositors. They are mere pawns in the process, whose interests are secondary to supplying banks. The Bank of Italy extended receivership of the bank. Compulsory clean-up exercises followed. In addition to BNI, depositors of Banca MB were also affected.
Bank runs have finally begun in Spain, Italy, and Greece in earnest. The savings accounts are being depleted within a broad vanishing act. Argentina is the lesson few learn. The latest is a report that NatWest within the RBS Group in the UK has suffered computer meltdown. Millions of customers had been unable to move or withdraw money from their accounts. A widening suspicion has come that the supposed technical glitch was instead a disguised kiting scheme designed to save the big bank conglomerate million$ in delays while clients were denied access to their money. It is theft by another name. The Ulster and Belfast bank interruptions blocked over 100 thousand account holders from access in Northern Ireland and Southern Ireland.
- Panic in the New World Order (fromthetrenchesworldreport.com)
- If the New World Order Goes Down (lewrockwell.com)
- Panic in the New World Order: (politicalvelcraft.org)
- Jim Willie: Gold: the Last Asset Standing, & Outline on Collapse End Game (silverdoctors.com)