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  1. #11
    Senior Member AirborneSapper7's Avatar
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    Senior Member AirborneSapper7's Avatar
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    First HSBC Halts Large Withdrawals, Now Lloyds ATMs Stop Working

    Submitted by Tyler Durden on 01/26/2014 14:43 -0500

    Update: things are back to normal - Lloyds will gladly accept your deposits again:

    First HSBC bungles up an attempt at pseudo-capital controls by explaining that large cash withdrawals need a justification, and are limited in order "to protect our customers" (from what - their money?), which will likely result in even faster deposit withdrawals, and now another major UK bank - Lloyds/TSB - has admitted it are experiencing cash separation anxiety manifesting itself in ATMs failing to work and a difficult in paying using debit cards. Sky reports that customers of Lloyds and TSB, as well as those with Halifax, have reported difficulties paying for goods in shops and getting money out of ATMs.

    All three banks are under the Lloyds Banking Group which said: "We are aware that some customers are unable to use their debit cards either to make purchases or to withdraw money from ATMs. "We are working hard to resolve this as swiftly as possible and apologise for any inconvenience caused."



    Further from SkyNews, TSB, which operates as a separate business within the group, issued a statement saying: "We are aware that some TSB customers are unable to use their debit cards either to make purchases or to withdraw money from ATMs. "This has impacted all Lloyds Banking Group brands. We are working hard to resolve this and unreservedly apologise for any inconvenience caused."

    TSB chief executive Paul Pester said in a tweet: "My apologies to TSB customers having problems with their cards. I'm working hard with my team now to try to fix the problems."

    Clients were not happy:


    On the microblogging site, one TSB customer Nicky Kate said: "Really embarrassed to get my card declined while out shopping, never had any problems with lloyds then they changed my account."

    Hannah Smith: "I am a TSB customer with a Lloyds card still (like everyone else). And I've been embarrassed three times today re: card declined."

    Another customer Julia Abbott ‏said: "Lloyds bank atm and card service down. 20 mins on hold to be told this. Nothing even on website. Shoddy lloyds. ... shoddy."

    Helen Needham ‏said: "#lloyds bank having problems with there card service... Can't pay for anything or get money out!"

    Another Twitter user wrote: "This problem is also affecting Halifax debit cards as I found out trying to pay for lunch with my wife!"

    And Jane Lucy Jones tweeted Halifax, saying: "Why can't I get any money out of any cashpoints, what is going on?

    What is going on is known as a "glitch" for now, and perhaps as "preemptive planning" depending on who you ask. Sure, in a few months in may be called a bail-in (see Cyprus), but we will cross that bridge when we get to it.


    http://www.zerohedge.com/news/2014-0...s-stop-working
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  3. #13
    Senior Member AirborneSapper7's Avatar
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    Second Major Banking Crash Imminent : HSBC Bank

    Saturday, January 25, 2014 8:45
    (Before It's News) By Susan Duclos

    Recent HSBC Bank actions are fueling concerns about a second imminent bank crash after they started restricting cash withdrawals from customers’ own bank accounts by informing them they had to provide proof of what they intended to use their own money for.

    According a report by the BBC’s MoneyBox Programme, HSBC customers have gone to withdraw cash from their accounts, only to find HSBC would not release the funds. Customers were told to make a bank transfer instead, unless they provided documentation proving the intended use of the money. Stephen Cotton attempted a withdrawal and told the programme:
    “When we presented them with the withdrawal slip, they declined to give us the money because we could not provide them with a satisfactory explanation for what the money was for. They wanted a letter from the person involved.”
    Mr Cotton says the staff refused to tell him how much he could have: “So I wrote out a few slips. I said, ‘Can I have £5,000?’ They said no. I said, ‘Can I have £4,000?’ They said no. And then I wrote one out for £3,000 and they said, ‘OK, we’ll give you that.’ “
    According to the article over at IACKNOWLEDGE, the major banks and states are preparing for a major crash as they buy up as much gold reserve as they can, indicating currency is at an all-time low.

    Read there rest HERE.



    http://beforeitsnews.com/economy/201...k-2589488.html
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  4. #14
    Senior Member AirborneSapper7's Avatar
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  5. #15
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    RBS hit with £3bn bill as hopes slide for sell-off before election: Bank faces huge new mis-selling scandal


    • Predicted £8billion loss is bank's biggest since £24billion loss in 2008
    • Forced to set £3billion aside for expected costs for legal actions
    • Mis-sold thousands of policies linked to the mortgage market
    • Almost certainly dashed hopes of partially re-privatising before next year



    By ROB DAVIES

    PUBLISHED: 18:40 EST, 27 January 2014 | UPDATED: 18:40 EST, 27 January 2014
    66 shares
    72 View comments


    +4

    Scandal: Hopes of partially re-privatising the bank before next year's election have been almost certainly dashed by expected £3billion legal costs

    Royal Bank of Scotland is on course for its largest loss since the crash because of blunders under former boss Fred ‘the Shred’ Goodwin.
    It is having to set aside £3billion to cover expected costs for legal actions and compensation for mis-selling thousands of policies.
    The massive black hole illustrates the long-lasting damage done by Goodwin’s leadership before the bank was bailed out with £45billion of taxpayers’ money in 2008.
    RBS is now on course to lose around £8billion this year, its biggest deficit since its record £24billion loss more than five years ago.
    Well-placed sources say Tory hopes of delivering a vote-winning move by partially re-privatising the bank before next year’s general election were now almost certainly dashed.
    Most of the new costs stem from products linked to the mortgage market, which were at the heart of the financial crisis in 2008.
    Nearly £2billion has been set aside to cover legal action brought by US victims of these disastrous investments.
    The bank is also setting aside nearly £500million to cover continuing compensation claims for mis-selling of PPI loan insurance, and a further £500million to pay compensation for ‘interest rate swaps’ that were sold to small firms that did not need them.

    More...




    This takes the total of new charges to nearly £3billion, and the bank said this may not be the end to fines, settlements and other penalties.

    The bank’s eight-strong executive committee said it would forgo bonuses this year. They were awarded a combined £6.5million in bonuses last year.

    +4


    +4



    Recovery: Ross McEwan, chief executive of RBS (left), says the bank is paying for past mistakes. The black hole illustrates the long-lasting damage done by former chief executive Fred 'the Shred' Goodwin (right)


    RBS’s chief executive Ross McEwan, who took over from Stephen Hester at the start of October 2013, said the bank and its directors were paying the price for past errors.
    ‘I know this team is not responsible for past mistakes but we are running the company and have to show we take accountability seriously,’ he said. ‘Fronting up to our past mistakes is very expensive, but RBS is now a stronger bank.’
    He did not name Mr Goodwin, who in 2012 was stripped of the knighthood given to him by Gordon Brown.
    But he blamed the aggressive expansionism of the bank, one of its key characteristics under Mr Goodwin’s leadership.

    +4

    Plans: Mr McEwan has been in talks with the chancellor since he assumed the role in a bid to recover RBS

    ‘We had a very large business that was in far too many markets and product groups,’ said Mr McEwan.
    ‘The scale of the bad decisions during that period means that some problems are still just emerging,’ he said.
    RBS has been at the centre of a string of scandals that have cost the bank – still 81 per cent owned by taxpayers – billions in fines and settlements.
    It has already paid out £2.2billion on PPI loan insurance, £750million for interest rate swaps and £390million for its role in the Libor scandal and some £60million for violating US sanctions.
    Andrew Tyrie, chairman of the Treasury select committee, said he hoped the bank would not rein in lending to small firms to protect its balance sheet.
    He said RBS was a perfect example of why the Government should legislate to ensure bonuses can be ‘clawed back’ from misbehaving bankers.

    Follow us: @MailOnline on Twitter | DailyMail on Facebook

    http://www.dailymail.co.uk/news/arti...g-scandal.html

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  6. #16
    Super Moderator Newmexican's Avatar
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    NOW BANK DECIDES IF YOU CAN HAVE YOUR MONEY

    Uproar as account confiscations loom over decision

    JEROME R. CORSI
    01/27/2014
    NEW YORK – Think your bank deposits are safe, just because the FDIC now insures accounts up to $250,000?

    Better think again.

    Until customer complaints forced a reversal of policy, the British multinational bank HSBC unilaterally imposed a restriction blocking customers from withdrawing large amounts of money from their own accounts, unless they could provide the bank with a “good reason” for it.
    After the uproar in London when the BBC reported the new policy, HSBC issued a statement claiming the concern was money laundering. The bank notified customers that it would “not necessarily” deny depositors the ability to withdraw large amounts of cash from their accounts.

    The HSBC explained in its statement that it has “an obligation to protect our customers, and to minimize the opportunity for financial crime.”
    “However, following feedback, we are immediately updating guidance to our customer-facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal,” HSBC said. “We are writing to apologize to any customer who has been given incorrect information and inconvenienced.”

    The bank’s motivation may have stemmed from reports leaking out of Washington that U.S. regulators continue to find HSBC has failed to implement required measures to prevent money laundering amid fears that its weakened financial position might cause a run on the bank. The Comptroller of the Currency made the demand after HSBC was forced in December 2012 to pay a record fine of $1.9 billion in lieu of criminal charges. WND broke the blockbuster story that HSBC was widely engaged in laundering billions of dollars in conjunction with known criminal cartel drug lords and suspected terrorists.

    The shocking series of WND stories beginning in February 2012 drew the attention of the Department of Homeland Security in New York and the Senate Permanent Subcommittee. WND reported on the 1,000 pages of bank records a former account relationship manager with the HSBC southern New York region brought exclusively to WND. The evidence showed the global banking giant was money-laundering billions of dollars using the Social Security numbers of current and former bank customers to create bogus proxy bank accounts to deposit and transfer internationally the illegal funds, unbeknownst to the account holders.

    Federal Reserve investigations in 2012 found HSBC’s drug-related and terrorist-connected money-laundering violations included managing $19.4 billion in transactions for the Iranian government while Iran was under U.N.-imposed economic sanctions. The bank also was accused of making $7 billion in banknote transfers, most of which were drug-cartel related, from an HSBC branch in Mexico to an HSBC branch in the United States.

    Remarkably, in a statement published by the Guardian of London in December 2012, Assistant Attorney General Lanny Breuer admitted the Obama administration Justice Department had concluded HSBC was too big to prosecute.

    At a New York press conference, Breuer said that despite HSBC’s “blatant failure” to implement anti-money laundering controls and its willful disregard of U.S. sanctions, the $1.9 billion civil fine was preferable to the “dire consequences” of taking the bank to court.
    The Guardian noted that had Justice Department prosecutors decided to press charges, HSBC would almost certainly have lost its banking license, “and the future of the institution would have been under threat and the entire banking system would have been destabilized.”
    HSBC said it was “profoundly sorry” for what it called “past mistakes” that allowed terrorists, drug cartels and rogue nations like Iran to move billions around the international financial system while circumventing U.S. banking laws.

    The Guardian noted HSBC processed for Mexico’s Sinaloa cartel, regarded then as the most powerful and deadly drug gang in the world, some $881 billion in drug trafficking money laundered through its accounts in the United States and worldwide.

    In July 2012, WND published an analysis of Federal Election Commission records proving HSBC since 1997, the first year FEC electronic records were available, had generously donated millions of dollars to both Democrat and Republican members of the House of Representatives and the Senate who held committee assignments in which they oversaw banking and financial services regulation.
    HSBC’s troubles as a rogue bank did not end there.

    Last August, Reuters reported the London-based HSBC had earnings seriously depressed after announcing it had to reserve $1.6 billion for an anticipated settlement with the Federal Housing Finance Authority in Washington. The U.S. demanded reparations for HSBC for violating banking laws, this time by misrepresenting the quality of the collateral mortgage-backed securities bonds the bank aggressively but fraudulently marketed between 2005 and 2008.

    Then, in October, Reuters reported HSBC had been ordered to pay some $2.46 billion to settle a class action lawsuit that charged Household International Inc., now HSBC Finance Corp., with fraudulently misleading investors about its predatory lending practices, the quality of its loans and the accuracy of its financial accounting from March 23, 2001, through Oct. 11, 2002.

    When HSBC acquired Household International in 2003, the acquisition made HSBC the largest subprime lender in the U.S. at the time. HSBC played a major role in the housing industry bubble that finally burst with disastrous economic consequences in 2008 at the end of George W. Bush’s second term as president.

    On Jan. 14, the Wall Street Journal’s Market Watch reported shares of HSBC Holdings fell 1.42 percent following a report HSBC may have overstated bank assets by as much as $92 billion.

    Market Watch further reported analysts calculated HSBC may need to raise between $58 billion to $111 billion to continue operations. The analysts warned HSBC could be forced to cut or suspend dividends to meet the capital-raising goals.

    In October 2013, WND reported a decision by banks in Cyprus not to allow customers to withdraw deposits preceded a government-imposed “bail-in” in which the Cypriot banking system agreed to confiscate up to 10 percent of customer deposits. The move was designed to recapitalize the nation’s ailing banking system, as required by the IMF as a precondition to obtaining an emergency Eurozone loan of 10 billion euros.


    Read more at http://www.wnd.com/2014/01/now-bank-...GHtI7YwqtaL.99

  7. #17
    Senior Member AirborneSapper7's Avatar
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  8. #18
    Senior Member AirborneSapper7's Avatar
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    RBS £8 Billion Loss Shows Risk In UK Banking System

    Submitted by GoldCore on 01/29/2014 17:11 -0500

    Today’s AM fix was USD 1,254.75, EUR 917.89 and GBP 756.42 per ounce.
    Yesterday’s AM fix was USD 1,253.50, EUR 919.12 and GBP 757.04 per ounce.
    Gold and silver rose by more than 1% on the COMEX today. Gold was $15.70 higher to $1,269.80 per ounce and silver rose $0.20 to $19.78/oz.
    Traders eagerly await news from the Fed. The recent tapering of the central bank’s bond-buying program by $10 billion to $75 billion a month is already largely priced into the market contrary to much idle speculation.

    Most physical buyers will ignore the noise and focus on the fact that the Fed’s monetary policies, along with most central banks in the world, remain extraordinarily accommodative even after the recent $10 billion taper.
    They are likely to continue accumulating until they see an actual, real tightening in monetary policies and an actual end to quantitative easing.Traders eagerly await news from the Fed’s policy announcement on Wednesday. The recent tapering of the central bank’s bond-buying program by $10 billion to $75 billion a month is already largely priced into the market.
    The smart money is either continuing to accumulate physical or transporting already purchased bullion from storage in the U.S., Canada, Europe and other western countries to storage in Singapore. Indeed, some are selling holdings in the West and rebuying bullion for storage in Hong Kong and Singapore.
    Royal Bank of Scotland (RBS) is heading for an £8 billion loss for 2013 and yet it is rewarding senior executives massive bonuses despite losses. It will have to lay aside nearly $5 billion to cover potential litigation claims related to mortgage-backed securities and other high risk products sold before the financial crisis. Its poorly served clients have had frequent IT and computer technical problems and there have been found to be gouging some of their business clients who have found themselves in financial difficulty. Recent days have seen allegations of currency price fixing.

    RBS is to stop providing dozens of currency benchmarks, as regulatory rate rigging probes raise doubts about the integrity of daily price fixings in the global foreign exchange and gold markets.
    In a memo to clients, the bank said that it would limit its offering of foreign exchange benchmarks to a handful of price fixings, and that it would wind down its internal benchmark, called RBS Fix.
    Nearly six years after the financial crisis and its massive bailout, it looks like business as usual by the bankers in RBS and in the City of London and Wall Street.
    Find out why Singapore is now one of the safest places in the world to store gold in our latest gold guide -
    The Essential Guide To Storing Gold In Singapore

    http://www.zerohedge.com/contributed...banking-system
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  9. #19
    Senior Member AirborneSapper7's Avatar
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    HSBC and Chase Send Clear Signals That a Bank Run Is Near

    January 27, 2014 - Activism, Featured, Main - Tagged: bank holiday, bank run, crony capitalism, dave hodges, false flag, goldman sachs, new world order, obama, police state, prepping, the common sense show,tyranny

    Dave Hodges
    January 27, 2014
    The Common Sense Show


    Can you find yourself in the picture?


    The HSBC bank is limiting withdrawals in both the United States and in Britain.
    For the life of me, I have no idea why anyone would want to bank in this criminal enterprise bank. Regardless, isn’t the money your money? Shouldn’t you be able to do with your money what you want without justifying the purpose to the bank that you designate to hold your money?
    John Cruz is a former vice president and relationship manager at HSBC. Cruz has made two guest appearances on The Common Sense Show in which he alleged that he uncovered that HSBC was laundering money for the Mexican drug cartels through phony shell corporations. He brought this to the attention of his supervisors at HSBC and was told to “leave it alone”. When he did not leave it alone, he was fired. Cruz went to prosecutors in the New York City area. They acknowledged that they knew what was going at HSBC, but they refused to investigate and prosecute and DHS and the FBI told Cruz the same thing.

    The Cruz revelations leave no doubt that the entire banking system is nothing but a criminal enterprise system.

    The Banking System Is Nearing Collapse

    HSBC has admitted that it has not informed customers of the change in policy which allows the bank to deny customer withdrawals of cash from their own account. This policy was implemented in November of 2013.
    This development at HSBC should raise red flags for everyone, not just HSBC customers, because in the same time frame, JP Morgan Chase announced an identical policy. As a result, many financial analysts are predicting a bank run in the near future and this is the primary strategy of the banks as they are obviously bracing for an economic collapse.
    This illegal withholding of bank customer funds is justified by Eric Leenders, the present head of retail at the British Bankers Association. Leenders states that the banks are just being sensible to ask questions as to what the money is for and then make a subsequent decision on whether to release the funds to the account holder. Leenders stated that “I can understand it’s frustrating for customers. But if you are making the occasional large cash withdrawal, the bank wants to make sure it’s the right way to make the payment.” I would agree with Mr. Leenders in that the theft of customer money by a supposed trusted bank is indeed frustrating.

    Sending a Clear Message

    Clearly, this is a portend of things to come. If the banks were on sound financial footing, account holders would not see any such restrictions. However, if you knew if a bank crash was coming, wouldn’t you make sure your bank was as liquid as possible? To the banks, being liquid and cautious in these perilous times means that the banks intend on making it very difficult for their customers to gain access to their money.
    These are the chest pains before the heart attack. Take your money out of the bank while you still can.

    An Ominous Development

    When the banking collapse happens, it will not be American bankers that will gobble up your life savings, pensions, 401K’s and IRA’s. It will be the Chinese.
    Isn’t it interesting that JP Morgan Chase has sold their property located at One Chase Manhattan Plaza skyscraper to Fosun International, a Chinese investment firm, for $725 million. This is only the latest in a series of New York real estate purchases by Chinese investors.
    It is time to connect the dots.

    Just the Facts Ma’am

    Fact, the American economy is in freefall.
    Fact, the Chinese have purchased a large portion of our debt.
    Fact, if the Chinese do not position themselves to acquire America’s hard assets before the crash, they will be left holding useless paper.
    Fact, your house is a hard asset and the paper note is owned by the bank.
    Fact, the Chinese not only make your clothes and most of your personal possessions, the Chinese will be calling in the loans on your homes before the crash, once they acquire more of our banks.
    Fact, if a person does not think that your home is not at risk of being taken, then that person does not understand basic finance and they have obviously never heard of the MERS mortgage fraud.
    Fact, the government has begun stealing everyone’s 401K and retirement plans from their previous allocations and converting them to buying U.S. government bonds and who owns the lion’s share of the bonds? Chinese take-out anyone?
    Fact, many have been reporting that Hillary Clinton has been collateralizing American home mortgages, office buildings, land, public holdings and mineral assets to the Chinese so that they will continue, for a short time, to continue to purchase our debt.
    Fact, it would be wise to learn Mandarin Chinese so that you can more effectively communicate with your soon-to-be slave masters.

    Welcome to the Old West, Chinese Style

    Are you familiar with the term “Company Town”? This is a phrase that was primarily reserved for towns in the “Old West” in places like Bisbee, Arizona. The mining company in Bisbee owned everything. The owned the mine where the people worked. They owned the homes where the people lived. They owned the drug stores. They owned the Grocery stores. In short, they owned it all! I fear that this is the new reality under which we will soon be living in which the Chinese will own everything.
    One interesting side note has to do with a historical event called the Bisbee Deportation. The event was precipitated by miners who thought they would protest dangerous working conditions and substandard living quarters. The owners of the company town responded to worker demands by forcing the dissenters into trains and then transported the protesters to the deserts of New Mexico and were forced off of the train in the middle of nowhere. In the near future, I do not think the Chinese will transport dissenters to the desert, the new destination will consist of barb wire facing in and the word FEMA will be imprinted on the sign outside the destination.

    Conclusion

    What name would you give a system of economics and government where corporate entities own all of the property? I would call it modern day feudalism.
    I can best sum up these events in the words of Johnny Cash, “I hear the train acomin’ it’s rollin’ round the bend and I ain’t seen the sunshine since I don’t know when…”

    http://thecommonsenseshow.com/2014/0...k-run-is-near/

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  10. #20
    Senior Member ReformUSA2012's Avatar
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    This is nothing new. Many banks have tried before to limit how much people could withdraw out of their accounts before and many banks have paid high prices for such. Back many years ago in the late 90's a friend of mine was trying to make a large withdrawl from his local bank branch (same bank I had at the time). The bank told him he couldn't withdraw that much in a day because they had maximum daily withdrawl limits. Well he talked to the manager who said the same thing so he closed out his account which of course the bank didn't care as he was a smaller account and looking to take out only a few thousand. However the woman behind him in line was an elderly well known rich woman in town saw what was going on so talked to the manager after that who informed her that's the banks new policy. She promptly closed out her account which was in the millions. Not much for a big time bank maybe but a small local bank can't afford those sort of mistakes.

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