You are here
Bank runs happening across China as depositors can't get at their money
By Nicole Hao
The Epoch Times, New York
Thursday, June 23, 2022
After nearly one million Chinese people were unable to access their bank deposits in central China's Henan province earlier this year, residents in east China's Shanghai, south China's Shenzhen, north China's Dandong, and central-east China's Jiujiang reported the difficulties they faced when trying to withdraw cash from their bank accounts.
Some banks will serve only a limited number of customers per day, some banks limit each client's withdrawal to no more than 1,000 yuan (about $149), and others closed their branches. Even the ATM machines are empty.
... Dispatch continues below ...
... ADVERTISEMENT ...
USA Gold: Coins and Bullion Since 1973
USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.
Please call 1-800-869-5115x100 and ask for the trading desk, or visit:
USAGold: Great prices, quick delivery -- all the time.
Bank runs have been happening in the world's second-largest economy for over a week, which is unusual in China because most of the banks are state-run.
"The reason why the bank run issue hasn't been solved is that China's economic system is in crisis and the Chinese regime doesn't have the ability to solve it," Wang He, U.S.-based China affairs commentator, told The Epoch Times on Wednesday.
Zheng Yongnian, one of the economic advisors to Chinese leader Xi Jinping, published an essay on June 1 in which he pointed out that China's economy is facing critical challenges, including the exit from China of more than half the foreign investments, and China's private businesses are struggling for survival due to a supply chain crisis and lack of cash. ...
... For the remainder of the report:
* * *
Join GATA here:
New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
Buyers can compose their case by choosing as many as four varietals from the list here:
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at firstname.lastname@example.org.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at email@example.com.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: