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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (54469)	1/26/2014 2:37:51 PM
From: ggersh	Read Replies (1) \| Respond to of 71479

Got hard assets...kepp em safe. 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.” “When we presented them with the withdrawal slip, they declined to give us the money because we could not provide them with a satisfactory explanation for what the money was for. They wanted a letter from the person involved.” Mr Cotton says the staff refused to tell him how much he could have: “So I wrote out a few slips. I said, ‘Can I have £5,000?’ They said no. I said, ‘Can I have £4,000?’ They said no. And then I wrote one out for £3,000 and they said, ‘OK, we’ll give you that.’ “ He asked if he could return later that day to withdraw another £3,000, but he was told he could not do the same thing twice in one day. …

To: Giordano Bruno who wrote (54469)	1/26/2014 2:55:47 PM
From: ggersh	Read Replies (1) \| Respond to of 71479

Furious Backlash Forces HSBC To Scrap Large Cash Withdrawal LimitSubmitted by Tyler Durden on 01/26/2014 - 13:23 Following the quiet update that HSBC had decided to withhold large cash withdrawals from some if its clients - demanding to know the purpose of the withdrawal before handing over the customers' money - it appears the anger among the over 60 thousand readers who found out about HSBC's implied capital shortfall just on this website, has forced HSBC's hands. The bank issued a statement (below) this morningdefending their actions - it's for your own good - but rescinding the decision - "following feedback, we are immediately updating guidance to our customer facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals." After all the last thing the bank, which over the past few years has been implicated in aiding an abetting terrorists and laundering pretty much anything, wants is an implied capital shortfall to become an all too explicit one. [iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowtransparency="true" src="http://platform.twitter.com/widgets/tweet_button.1389999802.html#_=1390765855628&count=horizontal&counturl=http%3A%2F%2Fwww.zerohedge.com%2Fnews%2F2014-01-26%2Ffurious-backlash-forces-hsbc-scrap-large-cash-withdrawal-limit&id=twitter-widget-0&lang=en&original_referer=http%3A%2F%2Fwww.zerohedge.com%2F&size=m&text=Furious%20Backlash%20Forces%20HSBC%20To%20Scrap%20Large%20Cash%20Withdrawal%20Limit&url=http%3A%2F%2Fwww.zerohedge.com%2Fnews%2F2014-01-26%2Ffurious-backlash-forces-hsbc-scrap-large-cash-withdrawal-limit" class="twitter-share-button twitter-tweet-button twitter-count-horizontal" title="Twitter Tweet Button" data-twttr-rendered="true" style="width: 110px; height: 20px;"][/iframe] COMMENTS: 140READS: 7,359 First HSBC Halts Large Withdrawals, Now Lloyds ATMs Stop WorkingSubmitted by Tyler Durden on 01/26/2014 - 14:43 First HSBC bungles up an attempt at pseudo-capital controls by explaining that large cash withdrawals need a justification, and are limited in order " to protect our customers" (from what - their money?), which will likely result in even faster deposit withdrawals, and now another major UK bank - Lloyds/TSB - has admitted it are experiencing cash separation anxiety manifesting itself in ATMs failing to work and a difficult in paying using debit cards. Sky reports that customers of Lloyds and TSB, as well as those with Halifax, have reported difficulties paying for goods in shops and getting money out of ATMs. All three banks are under the Lloyds Banking Group which said: "We are aware that some customers are unable to use their debit cards either to make purchases or to withdraw money from ATMs. "We are working hard to resolve this as swiftly as possible and apologise for any inconvenience caused."