Zero Hedge – by Tyler Durden It would appear the fears of a global bank run are spreading. From HSBC’s limiting large cash withdrawals (for your own good) to Lloyds ATMs going down, Bloomberg reports that ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week. While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia. Russia sovereign CDS had recently weakned to 4-month wides at 192bps.
Via Bloomberg,
Lender has introduced complete ban on cash withdrawals until end of week, news agency reports, citing unidentified person in call center.
Bank spokeswoman declined to comment by phone
My Bank is top 200 lender by assets: Prime
NOTE: Central bank has revoked about 30 banking licenses since July 1 when Elvira Nabiullina succeeded Sergei Ignatiev as governor, compared with three in the firt half of the year
Interestingly, Russia’s biggest lender Sberbank has seen a 8.7% rise in deposits in December… it seems the Russian’s are realizing that bank deposits are nothing more than risky loans to highly levered entities…
http://www.zerohedge.com/news/2014-01-28/russian-bank-halts-all-cash-withdrawals
Hi #1 NWO Hater,
You beat me to this one!!!
I was going to send this in for posting too,.. but you got to it first!,… thanks.
People need to see these kinds of critical indicators as quick as possible so they can hopefully understand what Henry, Me, Mark and others are always stressing on the radio show,…. the system is about to collapse (implode actually..),… and this is just another one of those warning lights turning on, on our FTTWR Dash Board Of Indicators!
People,… we ARE on borrowed time,… and they may be able to stretch this death rattle out for a couple of more years (unlikely..),.. several more months (unlikely….),… several more weeks (unlikely…),.. or,.. it can go at any time now (bingo!).
Get your final preps ready,.. and keep preping, storing, reading, training, getting in shape,.. and learning until the very last second!
To all my fellow Patriots that know what is coming: Stay strong, stay focused,.. and keep frosty,.. looks like we’re almost there.
JD – US Marines – I smell blood in the water……
Welcome, JD.
The one thing I’ve been paying closer attention to is the banking agenda – ever since Cyprus. This caught my eye immediately, even given the fact that they’re only somewhere in the top 200.
Testing the waters………incrementally.
First HSBC and now this one less than a week later. The banks are collapsing as we speak. I can see twice as many of these happening by the end of next month.