There seems to be internet problems going on. Is this connected to Planet X? [and from another]  A Lloyds Banking Group spokeswoman said the three-hour outage had been resolved. A technical problem left customers at the U.K.'s largest bank unable to make purchases or withdrawals using their payment cards. [and from another]  Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it. [and from another]  The People’s Bank of China, the central bank, has just ordered commercial banks to halt 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. [and from another]  Russia’s top monetary authority slammed digital currencies, warning that Bitcoin use can lead to criminal charges in the country. The anonymously produced “virtual currencies” can be intended by its producers for money laundering and terrorism funding purposes, the Central Bank said in a statement. This means that Russian digital currency users can become involved in criminal activity simply by using the Bitcoin and its analogues.

Suddenly banks are tightening the rules and the reins, all in the weeks ahead of the anticipated announcement admitting that Nibiru exists and is nearby. Is there a relationship? We predicted that banks would limit their hourslimit their withdrawals, and even be closed temporarily if a panic ensued. The likely time when such steps would be viewed as necessary would be during the announcement and shortly thereafter. One of the first reactions in a populace taken by surprise by the announcement would be to stock up on food, gasoline, and cash. The banks are anticipating a run on their ready cash, which frankly is not in hand! 

The complicated world of paper money is such that banks are not required to hold what is technically owned to depositors in the form of cash. It is, therefore, technically impossible for a bank to payout savings to depositors, on demand. This likewise guts their standing, as to issue loans they have to have backing for the loans, and savings is one of the pillars their house of cards stands upon. For both those reasons, a run on a bank, whereby depositors try to pull out their savings, would be sharply limited during a panic. The steps taken by banks in the UK and and elsewhere are only part of the picture, as most limitations already in place have not yet hit the media. 

Source: ZetaTalk Chat Q&A for February 1, 2014

Views: 4077


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Comment by Starr DiGiacomo on February 5, 2016 at 5:24am

IRS computer problems shut down e-file system

The Internal Revenue Service suffered a "hardware failure" on Wednesday afternoon, which left many of its tax processing systems unavailable Wednesday night, the agency announced in a statement.

The agency stopped accepting electronically filed tax returns because of the problem. The outage could affect refunds, but the agency said it doesn't anticipate "major disruptions."

"The IRS is still assessing the scope of the outage," the agency said. "At this time, the IRS does not anticipate major refund disruptions; we continue to expect that nine out of 10 taxpayers will receive their refunds within 21 days."

The website remains available, but "Where's My Refund" and other services are not working.

Some systems will be out of service at least until Thursday, the agency said. "The IRS is currently in the process of making repairs and working to restore normal operations as soon as possible," the IRS said.

Taxpayers can continue to send electronic returns to companies that serve as middlemen between taxpayers and the IRS. But those companies have to hold on to the tax returns until the IRS systems are up and running again, the IRS said.

People who have already filed returns don't need to do anything more, the IRS said.

Comment by Starr DiGiacomo on January 12, 2016 at 9:10pm

Royal Bank of Scotland warns investors to “sell everything”

Note warns that world stock markets poised to lose up to 20% of value

PhotoPhoto (c) sergey_p - Fotolia It's one thing when forecasters selling a report or video warn that the stock market is about to crash. It's another when an international bank raises the alarm.

In an unusually grim assessment from a banking institution, the Royal Bank of Scotland (RBS) has suggested that investors should sell their stocks and move money into high quality bonds.

“We think investors should be afraid that the ominous outlook for the world in our Year Ahead has been borne out (ex-ECB cuts) over the past six weeks,” RBS said in a note to clients. “Rather than fade, we say follow - and be cautious in 2016.”

2008 rewind

RBS says the world economic situation looks similar to 2008, just before the Lehman Brothers bankruptcy touched off a world financial crisis. That echoes a similar observation last week by billionaire investor George Soros, who told a conference in Sri Lanka that the current economic situation also reminds him of 2008.

The bank says the three asset classes that benefited from the Federal Reserve's Quantitative Easing and low interest rates should be expected to lose value, now that the Fed has reversed course. But China, the bank says, is making matters worse.

China's problems have been on display the last week or so as the Chinese stock market has sunk 10%. The RBS says it has further to fall, though, as the Chinese government struggles to get a handle on debt.

Commodities collapse

The recent collapse in commodity prices is also highlighted as a threat. On one hand consumers are enjoying lower gasoline prices. But banks and bond holders who have loaned money to oil drillers, with the expectation that oil prices would remain high, face increasing odds of default when those businesses file for bankruptcy.

The RBS note says oil is likely to fall to $26 a barrel, and could spike as low as $16. As icing on the doomsday cake, the bank notes that automation is on its way to destroying 30% to 50% of all jobs in the developed world.

The RBS economists say they are sticking to their call for a 10% to 20% drop in global stock markets. Hence, it's advice to sell before everyone else does.

“In a crowded hall, exit doors are small,” the note concludes. “Risks are high.”

Perhaps, but this can't be stressed enough. Before making any major investment decision – either buying or selling – it is always wise to discuss it with a trusted and objective financial advisor.

Comment by Starr DiGiacomo on June 4, 2014 at 2:30am

Ex-banker falls 1000ft off cliff in fatal Highlands hiking accident

Daniel Leaf, 55, from Edinburgh, who died after falling off a cliff an a hillwallking accident in the Cairngorms. Image from his former company Saracen.Death: Daniel Leaf dies after falling off cliff in Cairngorms hillwalking accident.

A former banker has died after plunging 1000ft off a cliff in a hillwalking accident in the Highlands.

Daniel Leaf, 55, from Edinburgh, was involved in the accident while on a walking trip on Saturday.

Members of the group he was with called the emergency services after the fall at The Prow on Ben Alder.

The father-of-one was airlifted to hospital by a Navy rescue helicopter, but died from his injuries shortly afterwards.

Mr Leaf was a senior manager at the Bank of Scotland before moving to investment firm Saracen Fund Managers (SFM) in 2011.

A SFM statement said: "Daniel will be remembered as a talented investor, a dedicated member of our team, a good friend and a fine man.

"We will all miss him dearly and our thoughts are with his wife Sandra and son Sam at this sad time."

A spokesman for Police Scotland said: "We received a report that a man had fallen in the Highlands around 3pm while he was walking with a party of other people.

"It appears that they saw him falling and it quickly became apparent he had suffered serious injury. A helicopter was dispatched and he was airlifted off the mountain.

“Due to the nature of the fall a mountain rescue team was not required."

Last year saw among the highest number of recorded deaths in the hills for decades, with 12 people losing their lives.

Comment by Starr DiGiacomo on May 22, 2014 at 7:03am

George Soros sells all shares of Citigroup, Bank of America and JP Morgan

Is this a sign of trouble ahead for the banking industry?

May 20, 2014  9:20 PM EDT
By John Vibes

WASHINGTON (INTELLIHUB) — Just over 2 decades ago banker George Soros made his most famous investment by shorting the British pound and pocketing a billion dollars in the process.  Since then he has become famous for betting on stock market crashes and in some cases even rigging markets to fail for his own gain.

Just months ago, Soros made headlines by making a billion dollar stock bet against the S&P 500.  At the time this was said to be a sign of trouble ahead for the US economy, as Soros has seemed to have had advance knowledge of market crashes in the past.  As a result of this reputation, investors have begun to keep a close eye on his holdings.

This week investors took notice again when Soros sold his shares of three major American banks, including Bank of America, JP Morgan and Citigroup.

The Wall Street Journal reported that “George Soros dumped his stakes in banks and went for tech and gold miners in the first quarter, according to a filing with the Securities and Exchange Commission Thursday. Soros sold his holdings in Citigroup (NYSE:C) , J.P. Morgan (NYSE:JPM) and Bank of America (NYSE:BAC)”

In February 2009, Soros said the world financial system had effectively disintegrated, adding that there was no prospect of a near-term resolution to the crisis. “We witnessed the collapse of the financial system … It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”


Comment by lonne de vries on April 25, 2014 at 11:04am

Psychological help after the suicide of an employee

An employee of the Bred- jumped from the 14th floor of the bank's headquarters on Tuesday morning, quai de la Rapee to . This 52 year old woman was affected in Créteil (Val-de-Marne) since November. The incident occurred shortly before 10 am, 200 meters from the Ministry of Finance. Psychological cell was opened on Tuesday to assist employees in shock.

Some attended the scene. An police began Wednesday, as well as that of the Health Committee (HSC) of the company.

"For the moment, nothing puts the company in question, says the majority union SUNI-Bred/UNSA. The employee got along very well with his new team, her superior is very nice. "According to a close," Lydia lived alone, in a difficult environment. " The human resources department states that this inhabitant of Ivry was therapeutic half for several years. Each describes a "secret" "very well known and popular" woman, but "never spoke of it." A homage will be Tuesday, April 29, at the sites of Créteil and Paris. They employ respectively 1100 and 350 employees.

(Translated with google)

Source in French

Comment by Ecosikh on April 10, 2014 at 10:42pm

surely no coincidence…

Christine Lagarde: huge government and bank debts risk new financial crash
IMF head argues for global co-operation on financial stability, warning against risky investments and low eurozone inflation

Comment by Howard on April 10, 2014 at 9:58pm

Mysterious spate of government officials committing suicide in China (Apr 10)

A series of mysterious apparent suicides by Chinese officials in the past three weeks, including of two senior figures, has sparked debate and questions among ordinary people here, as well as a fresh round of online censorship.

Chinese media reported Thursday that 58-year-old Xu Yean, a deputy director in the State Bureau for Letters and Calls, was found hanged in his office earlier in the week.

Xu’s department handles the petitions and complaints of ordinary citizens against local government officials. Although Xu had not been publicly linked with any corruption investigation, a senior colleague was fired and placed under investigation last November for a “severe violation” of party discipline.

He Gaobo, a local official responsible for building safety in the city of Fenghua in the eastern province of Zhejiang, was found dead in another suspected suicide Wednesday, five days after an apartment building collapsed in the city.

Last Friday, senior policeman Zhou Yu was found hanged in a hotel room in the central Chinese city of Chongqing. Zhou had been a major figure in a crackdown on organized crime in the city under the leadership of Bo Xilai, a senior Communist Party leader who was imprisoned for corruption.

A senior official at state-owned power generation company Datang was also reported to have died in suspicious circumstances March 29, although the company denied it was suicide.

But perhaps the most sensational death of all was that of Li Wufeng, a 56-year-old known as China’s top Internet cop, who was reportedly involved in maintaining a system of online censorship known as the Great Firewall of China. He was said to have jumped to his death from the sixth floor of his office building March 24.

China’s Central Propaganda Department swiftly issued a directive ordering local media not to report on his “accidental death” without authorization and to delete any “speculative and accusatory comments” online, according to a Web site, the China Digital Times, that monitors such directives.

Similar, the story of Xu Yean’s death Thursday was deleted from Chinese media Web site Caixin after a few hours.

Some netizens mocked official boilerplate explanations for many of these deaths.

“A new rule for officials who have committed suicide: every single one must be depressed, every single one must be unhealthy,” one user posted on Sina Weibo microblogging site.

Others wondered whether Xu simply knew, or saw, too much.


Comment by Carlos on April 6, 2014 at 9:56am

Former ABN Banker Schmittmann, Wife, Daughter Found Dead at Home

Former ABN Amro Group NV Netherlands Chief Executive Officer Jan Peter Schmittmann, his wife and a daughter were found dead at their home yesterday after a possible “family tragedy,” Dutch police said.

“The bodies of a father and mother and their daughter were found at the property” in the town of Laren, 32 kilometers (20 miles) southeast of Amsterdam, Dutch police said in a statement on theirwebsite. Leonie Bosselaar, a police spokeswoman, said in a telephone call with Bloomberg Newsthat the deceased were Schmittmann and two family members.

The police received a call around 10:30 a.m. local time from a family acquaintance who said something may be wrong at the property, according to the statement. Bosselaar declined to comment further.

The Dutch newspaper AD reported, without citing anyone, that the family was discovered by Schmittmann’s second daughter when she arrived home yesterday morning. She was scheduled to travel to India with her parents, where she had an internship lined up, the newspaper said.

Schmittmann, 57, joined ABN Amro in 1983 as assistant relationship manager and was named head of the lender’s Dutch unit in 2003. He stepped down from the Amsterdam-based bank in December 2008, after the company was nationalized earlier that year.


Comment by lonne de vries on March 14, 2014 at 11:06pm

Manhattan trader throws himself in front of commuter train - the 11th suicide of financial professionals this year alone

  • Edmund Reilly, 47, ended his life on Tuesday morning when he jumped in front of a train at a Long Island train station
  • The divorced father-of-three worked for Manhattan firm Vertical Group

A Manhattan trader jumped in front of a commuter train on Tuesday morning - the 11th person working in finance to commit suicide this year.

Edmund or Eddie Reilly, 47, who worked at Vertical Group in Midtown New York City, ended his own life when he threw himself in front of a Long Island Rail Road train at 6am near the Syosset station.

First responders declared him dead at the scene and his identity was confirmed a LIRR spokesman who added that an investigation had begun.

There have been a spate of suicides amongst financial services employees since the beginning of 2014. They've occurred in London, the U.S. and Hong Kong. 

1 William Broeksmit, a 58-year-old former senior executive for Deutsche Bank AG, was found dead in at home after apparently taking his own life in South Kensington in central London, on January 26

2 Karl Slym, the 51 year old Tata Motors managing director was discovered dead on the fourth floor of the Shangri-La hotel in Bangkok on January 27

3 Gabriel Magee, the 39-year-old JP Morgan employee, whodied after plummeting from the roof of the JP Morgan European headquarters in London's Canary Wharf on January 27

4 Mike Dueker, the 50-year-old chief economist of US bank Russell Investments was discovered dead near to the Tacoma Narrows Bridge in Washington State on January 31

5 Richard Talley, the 57 year old founder of American Title Services in Centennial, Colorado, was found dead on February 4 after apparently shooting himself with a nail gun.

6 Tim Dickenson, who was a U.K.-based communications director at Swiss Re AG, died in late January, in as yet unexplained circumstances

7 Ryan Henry Crane, the 37 year old executive at JP Morgan died in an alleged suicide just a few weeks ago on February 3 at his home in Connecticut

8 Li Junjie, 33-year-old banker in Hong Kong jumped from the JP Morgan HQ in Hong Kong on February 19

9 James Stuart, the former National Bank of Commerce CEO was found dead in Scottsdale, Arizona on the morning of February 19. The cause of death has yet to be announced

10 Autumn Radtke, the CEO of First Meta, a digital currency exchange firm who was found dead on February 28 outside her Singapore apartment.


Comment by Ecosikh on March 5, 2014 at 11:21pm

and for a change...

a bitcoin exec is sadly found dead

just so sad to read this news.

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