Thursday, September 25, 2008

The Impending Receivership of the U.S.A.

Minutes after the President spoke, reports began circulating on the internet [from credible news outlets, I might add] that Chinese regulators have instructed domestic banks to stop lending to American banks in the inter-bank money markets:

China asks local lenders not to lend to U.S. banks:report

By V. Phani Kumar
Last update: 10:28 p.m. EDT Sept. 24, 2008
HONG KONG (MarketWatch) -- Chinese regulators have asked domestic banks to stop lending to U.S. financial institutions in the interbank money markets to prevent possible losses during the financial crisis, the South China Morning Post reported Thursday. The China Banking Regulatory Commission's ban on interbank lending of all currencies applied to U.S. banks, but not to lenders from other countries, the report added, citing a source.

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