OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» 36 Million Families to Stop Receiving Monthly Child Tax Credit Payments in January
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 6:11 pm by bigdog2aton

» Mysterious town in Japan is obsessed with UFOs and aliens
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 1:31 pm by PurpleSkyz

» Martin Luther King, Jr. I Have A Dream Speech
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:20 pm by PurpleSkyz

» Myocarditis Tops List of COVID Vaccine Injuries Among 12- to 17-Year-Olds, VAERS Data Show
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:14 pm by PurpleSkyz

» Non-Jabbed Father Stripped of Visiting Rights by Judge
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:11 pm by PurpleSkyz

» Dangerous M6.6 earthquake hits off Java, Indonesia
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:08 pm by PurpleSkyz

» Life insurer refuses to cover vaccine death
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:01 pm by PurpleSkyz

» Dr. Sam White Interview – Doctors Are Being Suppressed, Censored & Attacked For Telling The Truth
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 11:32 am by PurpleSkyz

» American Students Organize Classroom “Walk Outs” To Demand Return To Remote Learning
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 11:27 am by PurpleSkyz

» 15-Year-Old Soccer Player from Brazil Dies from Cardiac Arrest Following National Football Cup Tournament Game
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:34 am by PurpleSkyz

» Route 91: Uncovering the Cover-Up of the Vegas Mass Shooting
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:21 am by PurpleSkyz

» COVID-19 Vaccines: Scientific Proof of Lethality
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:17 am by PurpleSkyz

» Open Letter to Steve Kirsch
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptyYesterday at 12:14 am by PurpleSkyz

» New Normal: Former Malaysian Professional Football Player Dies of Heart Attack 5 Days After Receiving COVID-19 Booster Shot
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 4:10 pm by PurpleSkyz

» Hundreds of Thousands Protest ‘New World Order’ in France as COVID Narrative Crumbles
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 12:58 pm by PurpleSkyz

» The Full Extent of Jeffrey Epstein’s Crimes Are Slowly Being Revealed
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 12:50 pm by PurpleSkyz

» Japan Drops All Vaccine Mandates, Places Myocarditis Warning on Label
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 12:42 pm by PurpleSkyz

» Why Are Concrete Walls Being Constructed Around The White House?
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 12:36 pm by PurpleSkyz

» Q&A With Scientist Who Discovered Cannabis Can Prevent COVID-19
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 9:52 am by PurpleSkyz

» Tragic: 38yo Athlete Dies after Suffering Heart Attack During Swim Portion at Ironman 70.3 Pucon
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 9:48 am by PurpleSkyz

» Smoking Gun: Moderna Patented ‘Man Made’ SARS-CoV2 Gene Sequence in 2018
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 9:41 am by PurpleSkyz

» NASA Probe Gets Closest Look At Sun’s Atmosphere Than Ever Before And Makes Immediate Discoveries
"SHEAR PANIC!" Bank Runs have begun in Italy!  EmptySun Jan 16, 2022 9:34 am by PurpleSkyz








"SHEAR PANIC!" Bank Runs have begun in Italy!  4ccd9cb4-22af-4abe-a6c4-4d57fbce210b_zps8t6pdo1h

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE » "SHEAR PANIC!" Bank Runs have begun in Italy!

"SHEAR PANIC!" Bank Runs have begun in Italy!

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin

"SHEAR PANIC!" Bank Runs have begun in Italy!

Post by Newsroom - Jan 21, 2016



"SHEAR PANIC!" Bank Runs have begun in Italy!  0a47a31ecf1649c40be3821bbc214aed_XL
 
MILAN — A "run" has begun on Italian Banks, with Depositors taking out money in a PANIC, fearing they will lose everything if they leave their money deposited.
 Banca Monte dei Paschi di Siena SpA’s shares shed one fifth of their value after plunging for a third consecutive day Wednesday, as the bank scrambled to reassure investors its finances are solid.
The bank said that it had suffered outflow of deposits as a result of market jitters and that its accounts had improved in the last quarter.
The bank’s Chief Executive Fabrizio Viola said in a statement that deposit outflows were limited and lower than those that had taken place in 2013.
In February 2013, it emerged the bank was entangled in a legal scandal involving loss-making complex financial transactions, something that spooked investors and caused a deposit-outflow of “some billions,” the bank said in April that year.
But Mr. Viola’s words didn’t stop the massive selloff.
Trading in the bank’s shares was suspended for most of Wednesday’s session and shares ended up shedding 22.2%. Since Monday, the bank’s shares have lost 46% of their value, plunging to €0.51 ($0.56) per share. Since the beginning of the year, the bank’s share price has declined 58%.


The bank is now capitalized at roughly €1.6 billion, despite having tapped investors for €8 billion in the last two years to pay back a €4 billion government loan and shore up its capital position, amid mounting bad loans and a chronic lack of profitability.
It’s pure panic, we are going beyond the prospects of the bank’s low profitability,” said Vincenzo Longo, a strategist at IG Markets in Milan.
The bank will post fourth-quarter earnings on Feb. 5.
In 2012, the bank started to implement a drastic restructuring plan, aimed at bringing it into the black and to pay back a €4 billion government loan. For the first half of last year, the bank posted a net profit of €194 million, after having accumulated losses of over €10 billion in earnings periods since the second quarter of 2012.
But it posted a €109 million loss for the third quarter, mainly due to a one-off hit caused by the unwinding in September of a complex structured-product transaction.
It also tapped investors for €8 billion in the last two years to pay back a €4 billion government loan and shore up its capital position, amid mounting bad loans and a chronic lack of profitability.
Meanwhile, UniCredit SpA’s Chief Executive Federico Ghizzoni ruled out any intervention to support Monte dei Paschi, adding that he had received no requests from the Italian government to do so.
 Sources in the financial markets throughout Europe have confirmed to SuperStation95 that "These bank runs will spread" to other countries, with one analyst saying "This is the beginning of the end for all of Europe."
In fact, it is likely to spread to Germany next.  Just this week, Germany's largest bank, Deutsch Bank, revealed they will post a loss of 6.7 BILLION Euros for last year; the worst loss in that bank's entire history!  Investors were stunned by this news and there is now open and public worry that Deutsch Bank may not be solvent.
Elsewhere in Europe, banks admitted last week they are sitting on . . . . . . ONE TRILLION IN BAD LOANS . . . . . and may have to be "re-capitalized."  Therein lies the problem:  Under the new banking laws, governments will no longer "bail-out" banks.  Instead, the banks must be "bailed-IN" by taking money from DEPOSITORS and replacing that with newly-issued stock in each bank!   Average citizens would lose a major portion of all accounts in each bank (Checking, Savings, Certificates of Deposit, IRA/401-K Retirement plans, etc.) and would be given shares in the bank as compensation.  The trouble is, depositors cannot pay their bills or eat with stocks.
In the United States, Wells Fargo admitted during a conference call this week, their commercial loan portfolio contains "$17 Billion" in loans that they described as "less than investment grade."  That was a nice way of saying "bad loans."  Wells Fargo made things worse when they admitted they only have $1.2 Billion set-aside to cover bad loans.  So if all $17 Billion are bad, where will the other $15.8 Billion come from?   YOU!  Your checking, savings, CD, IRA, 401-K will all be "levied" by the bank to cover its losses!
Also in the US, the Chairman of Citibank refused this week, to disclose how much in bad loans are on their books!  He also refused to reveal how much cash the bank has set-aside to cover bad loans!   It is not a good sign when a bank Chairman refuses to disclose how bad things might be.  After that stockholder conference call, rumors began to circulate that Citibank may be "in bad financial shape." 
If true, where will Citibank get the money to cover its losses?  YOU!  Your checking, savings, CD, IRA/401-K retirement accounts will all be levied to cover the bank's losses and you will be given stock in the bank as compensation.  How will you pay your bills with stock?  How will you eat?
When the analysts mentioned earlier said "This will spread" and "This is the beginning of the end for Europe" people stood-up and took notice.  Now a "run" is taking place against banks in Italy.  If those analysts are correct, then the contagion could spread to the United States.  Will YOU be one of the people who leaves his money at a bank while it fails?  How will you eat if that happens?  How will your family eat?
In the movie "Forrest Gump" he famously said "stupid is as stupid does."  Are YOU stupid?
Last modified on Friday, 22 January 2016 09:29

Thanks to: https://www.superstation95.com



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum