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02-07-2022, 03:53 PM
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BANNED
Join Date: Jul 2012
Posts: 2,886
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A few banks have started to go belly up in China.
Interesting how they stop people from swamping the branches with demands of cash. They just turn their health records RED , which means you must stay at home and isolate. Now that's a fantastic bit of digital government control.... 
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02-07-2022, 05:53 PM
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FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,918
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Fail or criminal activity? Master mind allowed his friends to withdraw, and now fled to the US. Death sentence awaits him if he comes back.
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21-07-2022, 08:31 PM
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BANNED
Join Date: Jul 2012
Posts: 2,886
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Looks like the chinese banks are being protected from a run again.
Customers have been told that they are actually holders of investment products and can not withdraw their funds. Hey..that's what they call BAIL IN legislation here. We used to have bank bail outs by Govt but now have bail in by way of depositors funds. The legislation says that depositors can be compensated by "any other financial instrument" if a bank fails. That means when your bank starts to go belly up they might offer you shares in the bank instead of your money...this happens before the Govt $250k guarantee gets invoked. Cool..shares in a failing bank... Here is a commentary on what has happened in China.
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28-07-2022, 03:09 PM
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FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,918
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button.
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Chinese banks starting to fail
Linear Mode
