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Author Topic: China banks told to halt lending to US banks-SCMP  (Read 1468 times)

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Offline BlueStateSaint

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China banks told to halt lending to US banks-SCMP
« on: September 25, 2008, 07:02:39 AM »
Kinda surprised this isn't already here.

Quote
China banks told to halt lending to US banks-SCMP

Wed Sep 24, 2008 9:52pm EDT

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.

The whole thing is only four paragraphs long.  It's here . . .

http://www.reuters.com/article/marketsNews/idUSPEK16693720080925

I wonder who will step in if needed--the Saudis? :o
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Offline jtyangel

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Re: China banks told to halt lending to US banks-SCMP
« Reply #1 on: September 25, 2008, 07:40:38 AM »
Color me surprised :whatever: This is one thing I hate being vindicated on, but I figured I would be if this continued to play out. I won't bother to post this same thing in Bush's speech noting this was more then a correction(I think we are safe to say that means this is a not a normal cyclical happening either :whatever:). In lieu of arguing with a brick wall, I'll continue to just let it all unfold. You all had better hope the bailout comes though before the creditworthiness of the US gov. starts getting ground at.

Let's see:
Bulk of analysts--check
Press focused on market analysis--check
President of the US--check
Foreign regulators expressing concern via action--check

Yeah, just a correction. :whatever:

PS I also notice everyone is catching on to Obama's affiliation with freddie mac too. Maybe someone will at least give me some credit for knowing a little about something seeing as I've mentioned this repeatedly in the last couple of weeks...maybe...bueller :lmao:

Well, back to life...enjoy! :-*

Oh and asdf, those Honeycrisps do indeed rock! Between those and Pink Lady's...I now have another favorite!!!!11111
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Offline Willow

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Re: China banks told to halt lending to US banks-SCMP
« Reply #2 on: September 25, 2008, 07:49:03 AM »
How much money would the United States have if they immediately stopped all foreign aid?
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Offline jtyangel

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Re: China banks told to halt lending to US banks-SCMP
« Reply #3 on: September 25, 2008, 07:51:27 AM »
Quote from: Willow on September 25, 2008, 07:49:03 AM
How much money would the United States have if they immediately stopped all foreign aid?

That's actually something that really should happen. I agree with the direction you are going in there, Willow.
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Offline Toastedturningtidelegs

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Re: China banks told to halt lending to US banks-SCMP
« Reply #4 on: September 25, 2008, 07:56:25 AM »
Quote from: jtyangel on September 25, 2008, 07:51:27 AM
Quote from: Willow on September 25, 2008, 07:49:03 AM
How much money would the United States have if they immediately stopped all foreign aid?

That's actually something that really should happen. I agree with the direction you are going in there, Willow.
That should have been automatic as soon as they realized this problem! :banghead:
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Offline Willow

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Re: China banks told to halt lending to US banks-SCMP
« Reply #5 on: September 25, 2008, 07:57:42 AM »
Quote from: jtyangel on September 25, 2008, 07:51:27 AM
Quote from: Willow on September 25, 2008, 07:49:03 AM
How much money would the United States have if they immediately stopped all foreign aid?

That's actually something that really should happen. I agree with the direction you are going in there, Willow.



Well, it seems obvious to me, but for some reason Washington never talks about it. Even when they turn on our soldiers and shoot at them we still write the checks..
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Offline jtyangel

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Re: China banks told to halt lending to US banks-SCMP
« Reply #6 on: September 25, 2008, 07:59:49 AM »
Quote from: Willow on September 25, 2008, 07:57:42 AM
Quote from: jtyangel on September 25, 2008, 07:51:27 AM
Quote from: Willow on September 25, 2008, 07:49:03 AM
How much money would the United States have if they immediately stopped all foreign aid?

That's actually something that really should happen. I agree with the direction you are going in there, Willow.



Well, it seems obvious to me, but for some reason Washington never talks about it. Even when they turn on our soldiers and shoot at them we still write the checks..

Yep, it would seem obvious, but this is DC we are talking about here :whatever:


Agree with you too, Toast.

Ok, I'm off to go help at my kiddo's school. Have a good day folks!
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Offline USA4ME

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Re: China banks told to halt lending to US banks-SCMP
« Reply #7 on: September 25, 2008, 08:05:52 AM »
Quote from: BlueStateSaint on September 25, 2008, 07:02:39 AM
I wonder who will step in if needed--the Saudis? :o

The other Central Banks will adjust whatever is necessary on their end to compensate for the Fed Reserve.  In other "financial crisis" as they have taken place around the world, the Central Banks all back each other up.  That's a very brief explanation for something much more complicated.  But they did these same things during the S&L bailout, in the 80's when Argentina had their crisis, the Japanese economic problems in the 90's (that situation is similar in nature to the one we're having now), etc...  Among other things they can do, they can tighen or loosen their own economic situations in order to use their currency to either stem the inflation or deflation of the dollar.

.
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Offline DumbAss Tanker

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Re: China banks told to halt lending to US banks-SCMP
« Reply #8 on: September 25, 2008, 08:33:41 AM »
Politics aside, seems like pretty much of a rational economic decision.  I wouldn't, if I was them.
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