25 Jan 2014 Saturday 20h24 UT
Synopsis:
A friendly warning .
Hi ,
The market correction seems to have started on Thu 23 Jan 2014 (-1%) , Fri 24 Jan 2014(-1.96%)
DOW down 3.5% for week , all on last two days . DOW futures down 1.07%
Monday 27 Jan 2014 should be interesting . The scenario's from some fairly objective commentators see a correction of 50% - 67% .
Health warning :
HSBC :
There seems to be some severe liquidity strains .
I strongly suggest that you move any funds held by them (if you can).
They refused withdrawals of even modest sums over 3000 pounds in UK .
See link below .
"Following research last week suggesting that HSBC has a major capital shortfall, the fact that several farmer's co-ops were unable to pay back depositors in China, and, of course, the liquidity crisis in China itself, news from The BBC that HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. The BBC reports that some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it. HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: "We ask our customers about the purpose of large cash withdrawals when they are unusual... the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime." As one customer responded: "you shouldn't have to explain to your bank why you want that money. It's not theirs, it's yours."
Activate your 2008 protocols . There might be another credit shutdown .
Hoping I am wrong
Andre
No comments:
Post a Comment