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China banks told to halt lending to US banks
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Reuters
September 25, 2008
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Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.
“The decree appears to be Beijing’s first attempt to erect defences against the deepening U.S. financial meltdown after the mainland’s major lenders reported billions of U.S. dollars in exposure to the credit crisis,” the SCMP said.
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September 25th, 2008 at 11:36 am
We can’t rely on China anymore. We owe them so much money, all they have to do is stop the boats, take all the products off, fill them full of troops and come over and take “collateral” for what we owe.
This could happen, if we don’t quit borrowing from these totalitarian regimes. We let these bastards kill innocent, unarmed people for more than half a century and keep leaning on them for support and kiss their butts, time and time again.
Wealth is savings. Wealth is productivity. Wealth is NOT borrowing.
September 25th, 2008 at 11:37 am
I wish Canada would do the same thing and start making the americans buy our oil with some other currency.
September 25th, 2008 at 11:37 am
I READ BOOK THAT SAYS “MONEY IS POWER WHICH IS CORRUPTION DESTRUCUTION IS IT’S ONE AND ONLY FUNCTION.
September 25th, 2008 at 11:51 am
#1
“Wealth is savings. Wealth is productivity. Wealth is NOT borrowing.”
I couldn’t have said it better myself!!!
September 25th, 2008 at 11:54 am
Didn’t I do a good job joking with you last night?
And now look, China doesn’t think I’m funny
September 25th, 2008 at 11:55 am
This is the the big card here folks . If China dumps our currency and bonds , the depression will look like
a bump in the road compared to this.
September 25th, 2008 at 11:59 am
Good ole China!Such good friends they are!Remember that everytime you go to Walmart,and spend your hard earned money on Chinese garbage!I guess I was right when I was just a kid in 92 when I heard the New World Order speach by Daddy Bush,and thought…A One World Government is the DUMBEST idea I’ve ever heard!If one nation goes down,EVERY nation goes down!I guess I was pretty smart for my 20’s….No one is laughing now…..
September 25th, 2008 at 12:01 pm
I am looking for like minded people who research all of these topics and have something to say. I am trying to put together a team of writers to write for http://www.TransparentAmerica.com.
Help me change the world. If your smart and you spend a a lot time researching the world today and yesterday and you have a little bit of journalism experience please contact me @ mjes421 (at) msn (dot) com.
Lets band together to educate the world along with Alex Jones.
Alex cant do it all on his own. He WANTS US to take his example and move on it not just and be scared in our boots. We gotta stop this now..Thanks
September 25th, 2008 at 12:05 pm
incredible:
China says no credit at all to US banks
i guess they had more than one lever on the economy then dumping the US dollar
folks, THAT IS A BRICK WALL
60mph ouch
all of the Washington D.C. policy government is gonna face the reprecussions of this, and just about now you can point your ear in that directions to hear: “It’s not my fault, It’s not my fault… don’t look at me i’m just a Senator”
whoa, they are all guilty and the consequences are more than real, can you say Paulson Plan gets a Heart Attack and US goes in an outright FISCAL emergency
this is a new one folks: with China saying ZERO credit to USA, the USA needs to create a financial firewall which can only happen if they actually go AROUND the federal reserve – well, wish them the best of luck
September 25th, 2008 at 12:28 pm
This is what I was talking about the other day. When China calls in all the debt from the us, it’ll be all over but the crying.
September 25th, 2008 at 12:55 pm
And there’s only one tried and true way out of a depression…WW3 is just around the corner. And it could be hear a lot faster than anyone realizes. I’m guessing that’s why the govt doesn’t give two shits about job losses, everyone between 18 and 40 is gonna get drafted anyways.
September 25th, 2008 at 12:58 pm
These crooks make me sick in Washington and the FED. It is actually a good sign that China stops trading with us. They are saying…. “We don’t want anything to do with the FED”
Thanks China.
September 25th, 2008 at 1:29 pm
I think we are not living within our means as a Nation for way too long. That’s the problem.
This is not only an issue created by one leader, one party or the Government. The leadership today obviously not helping the issue, but we all need to look back in the mirror and ask our self and wake up the person next to you. Are we a culture of addiction? Addicted to foreign oil, addicted to foreign/import goods? Addicted to easy credit? Addicted to easy quick money/profit? Even if you are not that way, are we not stopping others to keep chasing these addictions? Are we as a Nations provide high quality goods and services to the rest of the world? We as a Nations just cannot afford any of the import goods and services anymore for way too long. I think China is doing us a favor to cool us off now, which we should be thankful indeed.
Addiction is in our culture. Changing a culture can be done. We can do it, but each of us has to figure it out our self.
If you believe there is life after death or reincarnation, then you probably want to figure it out this life time.
If you do not believe that or thinking others will bail out for you, then good luck!
Be truthful and be responsible to yourself! I believe the world is a wonderful place and it is up to all of us to make it so.
September 25th, 2008 at 2:26 pm
americas ship is sinking, the rest of the world is holding life the life preservers. If it were,nt for The USA- China would still be trying to figure out Guided Missile Systems Technology. Clinton…
We have done alot of good things in the world also. How many times have we gone in and saved other nations on borrowed money. I say we have got alot of fairweather friends. We The People are the ones that are going to suffer not big daddy. Our Gov does not want to Borrow more money for a bail out. They will save what little credit they have for more war.
September 25th, 2008 at 2:41 pm
This article is false.
“China’s banking regulator has denied a media report of a ban on domestic commercial banks from lending to US financial institutions.”
“The CBRC said in a statement on its website that it has not ordered such a ban and that the SCMP published the report without verifying its authenticity.”
http://www.forbes.com/afxnewsl.....68679.html
September 25th, 2008 at 3:18 pm
BLACK OCTOBER 5 DAYS TO GO TO THE BEGINNING OF THE END
September 25th, 2008 at 3:39 pm
YOU HEARD IT ON THIS SHOW EXACTLY ONE MONTH AGO!!
While Alex was covering the DNC, Jason Bermas interviewed BENJAMIN FULFORD, who SAID THAT CHINA WOULD STOP LOANING US MONEY BY SEPT. 3OTH and that this would collapse our economy.
AND IT’S NOW COME TRUE!!! (although I hope & pray that the last part doesn’t happen)
September 25th, 2008 at 5:50 pm
Everyone on INFOWARS listen carefully. Go and Google “Support H.R. 2755″. This resolution was introduced by none other than Ron Paul and is known as the “Federal Reserve Board Abolition Act” which will repeal the Federal Reserve Act and abolish the US Federal Reserve at the end of 1 year after its passing into law. Everybody go start blogging and e-mailing everyone you know with this info. It’s time for everyone to write your local and state officials as well as your congress and urge them to support this resolution. Lets do this.
September 25th, 2008 at 5:52 pm
This problem was not created by US people over spending and living beyond their means, by most parts.
Economies can handle some stupidity.
But Not Government over spending which delutes the markets.
Think about it?
Our government before 9/11 was spending(Borrowing) 1 TRILLION a year just to keep troop over-seas.
That was before 9/11!
They have Borrowed us into receivership.
September 25th, 2008 at 6:11 pm
The usual people who started and ran the Money Bombs for both Ron Paul and I believe did for Alex Jones also, are now attempting to run one for a chosen third party candidate if they get enough signed up backers. Now that a candidate seems to have become the most preferred, I recommend going to this website………
http://www.thirdpartyticket.com/
It is called “Third Party Ticket”. This is the central point at this time, even though it was not known that it would be because of Dr. Paul’s Chuck Baldwin endorsement since it started last week, that will get anything as a group that is organized done. Go there and read about it and become part of it. Tnx.
Rhonda
September 25th, 2008 at 6:58 pm
James……..I just went to the Forbes link: {China’s banking regulator has denied a media report of a ban on domestic commercial banks from lending to US financial institutions.}
WHO is the unnamed China ‘banking regulator’? And at this point I trust the initial report! Our gov. is desperate not to let this out. The Telegraph UK also had such a report 2 days ago, but it was erased from their site.
I think this is precisely why Paulson had to finally get the congress in on this. The Chinese will not directly ‘invest’ in the toxic paper of the banks, so they HAD to come to us, the sheeple. The Chinese will only lend the money if it’s backed by Treasury notes. Collateral backed by the US ‘taxpayer’. After all, Bernanke said yesterday they would borrow the money for the bailout, not monetize it themselves. So NOBODY but us schmucks will put their REAL money in.
I’m sure the Chinese didn’t want this broadcast as it jepardizes the investment they ALREADY have here. An insider let the secret out.
Hey, “WE’LL WIN” …….Dude, the Chinese don’t even need to ‘call in’ the debt. They just have to stop their non-stop lending and we are toast. THAT’S why there was such sudden urgency to the bailout plan!!!
September 25th, 2008 at 7:48 pm
….doesnt george have credit in China? Cant he just maybe get a co-signer, like Chaney, and apply for a loan in bejing, say for a revolving line of credit to the tune of 700billion?….What …hes not trustable? ….Ya mean, he is a liar? Pleeze….hes PRESIDENTIAL, for Christs sake….
The Country as we have known it is doomed. There cant be an agreement in washington by the fools, because they are idiots, in very nervous clown-clothes. I taped Bush last night, in his threat to the people….I fast forward it, and watch the beads of freak-out sweat, form…If not so serious, would be funny.These cocksuckers are scared the entire populace is going to bums rush them and tear them limb from limb…(not a bad idea…)…Fukin, de-regulator McCain pushing his AT FAULT nose in, like hes superman, …shit HE, was the pioneer of the legislation that started this mess. He should shut the fuck up.LAST week he said the economy was “fundamentally sound”…..sucking sound? wtf? This dipshit multi-millionaire, doesnt know how many homes he ownes. Has anyone that anyone reading knows, EVER answered the question, when asked…”How many homes do you own”?….said…”I dunno”….6-8…um…Can u fukkin imagine? I know how many I own….how muck cash I have….um whats in the refergerator….You know….stuff…about LIFE…um, my life! He is so out of it, the Republicans know the deal…Palin? She wont even talk in public for fear she will have to make important sense. ….”miss sexy palin….what caliber rifle do you use to shoot moose”??….She meets with war criminal Henry Kissinger for what? ….To be indoctrinated in the lifetime lie game….until she loses value, or is too risky…and end up hanging in her mothers garage, with a conveinient suicide note….written in lipstick…..
It seems the banks are already failing…if you realize there are gasoline shortages, and food deliveries alraedy being late, and cancelled. Too many folks are using borrowed money to do busisness as usual, and those that cant borrow, cant make trucking runs. This is the tip of the iceberg. It can get bad fast boys….Notice all the polititions and news guys are saying “confidence” of we the people is the key….because the “investors” cant invest with money they dont have for a couple reasons….main one? People arent trusting anyone at all. These stupit fucks dont get that they are the ones who got us here…Its like giving a football coach a carte-blanch bank book, …after loosing 16 games in a row, for 8 years…..because he threatens the “whole program will be cancelled”, unless you concede. TERRIFYING!!!!…..Um….Shoot the terrorists…..Isnt that what George likes…???hmmmmm
There is no more “confidence”…no more trust. We the people are dumb, but not that dumb. I have lived poor…top ramen and a prayer…I can do it again….This has been coming since I was a kid, and Im 49 now. I knwe when I was very young the “system” was failing…that it was a lie. Taught to “be truthful. kind…etc…”…while the Government spewed lies that even a yery young person , paying half attention, could see through. Bullshitters have a look in their eyes, a cadence, a rythm….I saw it early. I wanted to believe differently in my adulthood, for the sake of my own American dream…kids, wife home….You know….However, the often talked about dis trust of our “leaders”, with friends, co workers…family…with myself…knew down deeply, the “dream” was a sham, temporary…now its come to the horrifying realization I was right. Fuckme.
Am I “ready”…no. NO. I have a 5 year old daughter. I have guns, but dont want to have to defend myself. Stored food? Couple weeks at best. Am I different than most Americans? I dont think so.
September 25th, 2008 at 8:50 pm
It is all over, this is just a bandaid so the they can survive through the elections. If the shit hits the fan remember REVOLUTION!!!!! Arm yourself and over throw the government. Ben Franklin said so lets do it this government does not represent the people only special interest. Lets rebel establish a new government that is based on the constitution find all these assholes were they are hiding and put them in jail or kill them on site!!!!!! Yes, I will say it KILL BUSH and especially KILL CHEYNEY!!!!!!
September 25th, 2008 at 9:32 pm
Washington Mutual just went down taken over by j.p. morgan just a day before the bailouts Hmmmm http://www.thepentacon.com
September 25th, 2008 at 11:36 pm
Chalk up another Win for one of the Primary Private for Profit Banks of the Federal Reserve: JP Morgan.
They performed the same type of Vulture Capitalism during the Great Depression of the 1930’s. JP Morgan went MAD in the 1930’s having USA Assets seized, and then JP Morgan purchased them for Pennies on the Dollar just as they now did with: Bear Stearns and NOW Washington Mutual.
We do not have to look very hard to see who the REAL CRIMINALS are who are benefiting from the current Financial Crisis. History is repeating itself.
Abolish the Private Federal Reserve Banks. The USA is perfectly capable of Printing Its Own Money.
The USA Printed Its Own Money Before the Federal Reserve Seized the Financial System in 1913, and the USA CAN Print their own Money NOW.
At the very least, ALL Congressmen should push for SUSPENSION of the 6 percent Interest (Dividend) Payment that the Private For Profit Federal Reserve Steals from USA Citizens for every Dollar they Print. Why in the Hell should a Private International Banking Cartel get a 6 cent Bonus on every Dollar: for every Worthless Fiat Dollar they Print? This has to END.
September 26th, 2008 at 4:30 am
There is a provision that allows the govt. to assume the federal reserve, we should do that – cancel the interest payments and print up interest free currency and allow redemption in precious metals if the holder wants to..
September 26th, 2008 at 10:44 am
If the dollar collapses , remember to look at your loan agreements . All specify that they are to be paid in
DOLLARS . If you have gold and silver you will be able to purchase dollars for nearly nothing . This is your chance to fight with words like the fat cats do . Stick to your guns and demand that they take dollars for
payment and, in the face amount of the currency . Don’t let them demand a new currency or inflate the loan to adjust for the value loss of the dollar . They make you stick to the contract , you do the same . The bankers never hesitate to stick it to us with legal wrangling and schemes so , be smart shove it right back
in their faces .
September 27th, 2008 at 8:30 pm
the “experts” say they think that the 700$ billion would take the hurrican from a level 5 to a level3, meaning that it will make the pain a little less, but there is still going to be plenty of pain for us little folks. the major thing that the fear monger experts keep saying is that credit is going to dry up. credit for business and individuals will halt. so it doesn’t matter if you have excellent credit because no one will be in the position to lend.
i suggest that if you see the hurricane heading your way, max out your credit cards in cash advances and hold on to it and don’t pay the bastards back. they are going to get billions of our money anyway. so what if your credit rating gets wacked? its going to take at least a year… probably much longer before you can get credit. at least you will have cash on hand and hopefully you can convert it to gold before the dollar becomes worthless. and if you care about your credit rating, wait until things look okay again and work out a settlement. the bad mark will disappear pretty quickly with a little work. besides everyone else’s credit rating is going to be wacked too so if your excellent rating is dinged a little you will still be better off than the masses.