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Honored Advisor

Suppose it really was suicide by choice?

Last Friday, HSBC Banks in London began restricting bank withdraws to nothing over 3,000 pounds then relaxed that a bit if you could prove to the banks satisfaction why you needed it. Now a Russian Bank has halted all cash withdraws until next week. And now two top ranking American bankers working in senior positions in London have committed suicide in the space of two days.
Something going on in the banking world? Coincidences ???
 
Suppose it really was suicide by choice?
.....


Russian Bank Halts All Cash Withdrawals
01/28/2014 09:53 -0500

It would appear the fears of a global bank run are spreading. From HSBC's limiting large cash withdrawals (for your own good) to Lloyds ATMs going down, Bloomberg reports that 'My Bank' - one of Russia's top 200 lenders by assets - has introduced a complete ban on cash withdrawals until next week.

While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia. Russia sovereign CDS had recently weakened to 4-month wides at 192bps.

Via Bloomberg-
Lender has introduced complete ban on cash withdrawals until end of week, news agency reports, citing unidentified person in call center.

NOTE: Central bank has revoked about 30 banking licenses since July 1 when Elvira Nabiullina succeeded Sergei Ignatiev as governor, compared with three in the first half of the year

Interestingly, Russia's biggest lender Sberbank has seen a 8.7% rise in deposits in December... it seems the Russian's are realizing that bank deposits are nothing more than risky loans to highly levered entities.

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.

Two top ranking American bankers working in senior positions in London have committed suicide in the space of two days.

Gabriel Magee, a 39-year-old JP Morgan bank executive, died early this morning after he jumped 500ft from the top of the bank's European headquarters. His body was discovered on the ninth floor roof, which surrounds the 33-story Canary Wharf skyscraper.

Just two days earlier, on Sunday, fellow American banker, William 'Bill' Broeksmit, 58, was found hanging in his South Kensington home.

http://www.zerohedge.com/news/2014-01-2 ... ithdrawals
http://www.zerohedge.com/news/2014-01-2 ... ithdrawals
http://www.bbc.co.uk/news/business-25861717
http://www.dailymail.co.uk/news/article ... z2rk7hITWu
 
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