Chinese Authorities Crack Down as Panicking Citizens Make Runs on Banks

The Western Journal ^ | 16 August 2020 | Jared Harris

[MeneMeneTekelUpharsin]

Hmmm...seems like something is developing that the Communists can not hide any more.

[Red Badger]

[Red Badger]

[brownsfan]

I’m not a finance wizard, but with all American companies have invested in China, if China falters, our market will take a nose dive.

[Dacula]

The US is facing a cash and coin shortage at the moment. What will help people if the cash runs out and your debit or credit card no longer works?

[Buckeye McFrog]

Didn’t the ChiComs announce the other day that they were walking away from the dollar? Sounds like a panic of their own making.

[Intar]

What will help people if the cash runs out and your debit or credit card no longer works?

The only way debit and CC cards would cease to function would be if a total loss of telecommunications occurred. Pretty much only a full scale nuclear war could do that, and we would be worried about other things than money if it did.

[centermass_socrates]

I think this makes them even more dangerous militarily.

[Obadiah]

The EBT cards will work, won’t they?

They won’t? Uh, oh.

[Bob434]

[[but with all American companies have invested in China, if China falters,]]

investors might wanna think twice about being invested in CHina because I believe China is about to be faced with massive lawsuits for the coronavirus and hiding it

[Buckeye McFrog]

with all American companies have invested in China, if China falters, our market will take a nose dive.

That's why they're called Valuable Lessons. They don't come cheap.

[brownsfan]

“That’s why they’re called Valuable Lessons. They don’t come cheap.”

We warned them. I can’t tell you the number of times I was told to go to the DU.

[bert]

No such announcement was made.

The limited announcement to which you refer said that trade settlements between Russia and China could be with yuan and Rubles. It did not apply to all trade settlements with china made with the US$

[Dacula]

You funny, you make me laugh... hahahaha

The only way debit and CC cards would cease to function would be if a total loss of telecommunications occurred. Pretty much only a full scale nuclear war could do that, and we would be worried about other things than money if it did.

[DannyTN]

Trump told them to get out long ago.

So if they go down with China maybe another US competitor will take their place.

[VanShuyten]

You'd think in a communist country, all the bourgeoisie banks would have been nationalized by now to prevent the lackey running dogs of imperialist capitalism from causing such problems.

[MeneMeneTekelUpharsin]

lolol. I see what you did there.

[bert]

Strangely believe ti but there is a current conflict in process between Chairman Xi and the other leader Li. The communist Xi is putting down the efforts of the capitalist business interests in China.

The Hong Kong/Macao capitalist disease has already spread widely and may have actually metastasized. The business of business is being destroyed

[bkopto]

Waiting expectantly for the death of fiat currencies....

Buying gold, silver, and bitcoin is like buying a short on fake government currency.

[DesertRhino]

“The only way debit and CC cards would cease to function would be if a total loss of telecommunications occurred.”

Not exactly true. If government declares a bank holiday like in Greece or some such, and either declares an emergency shut down or severe restrictions on withdrawals you may find your card doesn’t work.
And more than a few people have had lines of available credit vanish when a bank panic starts. Banks retain full legal ability to close accounts or make that 10k credit card have available credit of 500 bucks or a 1000.