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China Banks Told To Halt Lending To U.S. Banks

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posted on Sep, 25 2008 @ 11:25 AM
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China Banks Told To Halt Lending To U.S. Banks


www.reuters.com

BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.

The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.

(visit the link for the full news article)




posted on Sep, 25 2008 @ 11:25 AM
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Uh-oh...

Looks like China is seeing the writing on the wall here. The endless lending may be coming to an end.

But not to worry, us tax-paying peons will be extorted in one way or another to keep them afloat. lol



"The decree appears to be Beijing's first attempt to erect defences against the deepening U.S. financial meltdown after the mainland's major lenders reported billions of U.S. dollars in exposure to the credit crisis," the SCMP said.




www.reuters.com
(visit the link for the full news article)



posted on Sep, 25 2008 @ 11:34 AM
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That's amazing and frightening to read.

Guess that leaves only Dubai with all the OPEC money.



posted on Sep, 25 2008 @ 11:35 AM
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