Stacy Summary: Many were oh so concerned about the Chinese who owned some bitcoin. LOL. Anyway, there sure are lots of strange things going on over the past few months with ATM ‘malfunctions’ and cash withdrawal limits and now suspension of money transfers (the very essence of bitcoin which no govt can shut down). We shall see where this all leads, all we know for sure is that debt and leverage has GROWN since the last collapse, so can the next one be far behind?
China Halts Bank Cash Transfers
In short, there will be a three-day suspension of domestic renminbi transfers. There will also be a suspension, spanning nine calendar days, of conversions of renminbi to foreign currency.
The specific reason given—“system maintenance” at the central bank—is preposterous. It is not credible that during the highest usage period in the year—the weeklong Lunar New Year holiday beginning January 31—the central bank would schedule an upgrade and shut down cash transfers.
A better explanation is that the country’s banking system is running dry.
Read more at http://www.maxkeiser.com/2014/01/china-halts-bank-cash-transfers/#0TXmkdwbIp2zjCOF.99
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2 thoughts on “China Halts Bank Cash Transfers”
“A better explanation is that the country’s banking system is running dry.”
Can always borrow more from the so-called ‘jews’.
They got lots.
Only keep in banks the money you can afford to lose. A wise Polish proverb.