Sunday, October 6, 2019

Bank Runs in Hong Kong as ATMs Run Out Of Cash

As Hong Kong ATMs Run Out Of Cash, Central Bank Steps In To Prevent "Panic Among The Public" . Coming soon to your town: ATMs that run out of cash. By the way, that money that you think is yours that you let the bank hold for you is not really yours. Unfortunately , millions are going to find this out the hard way. Personally , I only use the banking system to pay bills. Welcome to The Atlantis Report . one day after a junior JP Morgan banker was beaten in broad daylight by the protest mob, a SCMP report confirms that the social upheaval has finally spilled over into the financial world: according to the Hong Kong publication, the local central bank, the Hong Kong Monetary Authority, was forced to issue a statement warning against a "malicious attempt to cause panic among the public" after rumors were spread online about the possibility of the government using emergency powers to impose foreign-exchange controls. And while the central bank stressed that the banking system remained robust and well positioned to withstand any market volatility, some of the statistics it provided gave a rather troubling impression: the monetary authority said that not only were more than 10% of 3,300 ATMs damaged and could not function, but that banks were negotiating with logistics firms to refill cash machines as 5% of them had run out of money, adding that banknote delivery was affected by the closure of shopping malls and MTR stations. Will this be enough to prevent a bank run on the remaining ATMs? The answer will largely depend on what happens in the next 24-48 hours in Hong Kong, although the signs are grim. Earlier in Saturday, Hong Kong’s embattled leader, Chief Executive appealed to the public to condemn protest violence and disassociate themselves from rioters, saying the chaos they unleashed across the city the previous night after the announcement of a ban on the wearing of face masks at public assemblies was the reason such a controversial restriction had to be imposed in the first place. With the exception of ammunition depots, rioting property is not the trademark of freedom fighters but of a (paid) outlawed mob striving for the chaos of anarchy. So the failed state(let) was born. And that is indeed a known trademark... for the today US Empire in moral free fall. This upsurge in violence can be exactly the justification the Chinese government needs to start rolling the tanks in. In the end, the people of Hong Kong are screwed. Wherever one stands on this Hong Kong unrest (pro or anti the chaos being created), it will not end well. China will ultimately gain the upper hand by use of overwhelming force and that will not be a pretty sight. The only thing that's holding them back is the damage to its international image. But we already see Beijing slowly tightening the noose around the necks of demonstrators with this face mask ban and undercover agents deliberately causing damage , to smear demonstrators plus several people injured by police gunfire. God only knows how these demonstrators are gonna live in Hong Kong after their revolt is crushed. India has also just by coincidence run out of money at its banks. And the repo rates in the US are out of control. And just by coincidence, the Communist Chinese held their 70th birthday party and only invited their closest and most reliable 80,000 guests to make sure no protests occurred. You are witnessing the beginning of the "Greatest Depression" and the end of the Communist Party in China. The Democrat Progressives are also imploding and soon the Democrat Party in the US will be no more as well. We all can guess it is about : #1) Money. #2) Banks. # 3) Power over Citizens. #4) All people hate bankers, banking power, oppression of the banks, and the empowerment of government to oppress citizens about money & banking. - All Wars Are Bankers Wars . The bankers are in control that's for sure. We (the useless eaters) still don't know what the pecking order there is yet. Whether it is based in the US, UK or Europe is not clear but perhaps that doesn't even matter because they clearly coordinate all their moves globally anyway. The common theme by governments across the world is how they are using ever harsher methods to control the masses, be that through economic means or straight out censorship. They are so eager to control the narrative because they have so many skeletons in their closets. In the end it is the hierarchy of control that is in question now. They work frantically to keep the feudal system in place and fear a growing middle class of informed citizens who will not take their crap anymore. It's not only within countries but internationally as well. The old structures that have been under the control of the US and so called west is now showing clear signs of crumbling. The clean facade of the democratic west is falling off and we see the corruption and thuggish policies behind it all. What's heppening in Hong Kong is probably : a) a manipulated event, with Soros Open Society Foundation and CIA money pulling out "jenga blocks" . b) China is also very unstable right now, so it is only a question of whether or not this "chaos" spreads . The coming days will be intriguing. Dangerous and entertaining times to be alive . India yesterday . Now, Hong Kong. Monday should be interesting.

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