BANK HOLIDAY in ITALY !!

[Large Sarge]

(First Domino falls)

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[vacuum]

The link on drudge:

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Credit - NO LEVIES - PAYMENTS OF BNI for account holders

Thursday, June 7, 2012


http://www.adiconsum.it/Upload/images/bancaditalia.png BNI depositors unable to make withdrawals / payments, payments of utility bills, mortgage payments, taxes
Peter Giordano, Adiconsum: "Grave of the Bank of Italy's attitude that takes action without considering the impact on depositors, and especially on single-income families and pensioners"
Adiconsum Bank of Italy asks for an urgent meeting and the lifting of the
The Bank of Italy authorized the suspension of payments by Bank Network Investments SpA (BNI) without communicating anything to the depositors.
Very serious and unacceptable - says Peter Jordan, Secretary General Adiconsum - the attitude of the Bank of Italy SpA in each BNI, because highly prejudicial to the interests of customers.
Bank of Italy, in fact, after extending the receivership of the bank, thus giving the impression of an imminent rescue, then gave the green light for compulsory winding up, without giving any prior notice to the depositors, leaving them in no condition to perform any type of operation, even basic ones for daily survival, such as withdrawals / payments, utilities payments, rates, taxes.
We must unfortunately note that offensive measures as those adopted to customers BNI - Giordano complaint - not an isolated case. Decisions without taking into account the heavy impact, particularly on savers in possession of a single bank account on which accrediting salary or pension, are not new to Bank of Italy, and also affected depositors of Banca MB.
The attitude of the Bank of Italy - Jordan continues - is bureaucratic and deed and as Adiconsum we asked in a letter sent to the Bank of Italy and the lifting of the BNI and an urgent meeting to define the way in which customers, especially Fixed-income families and pensioners, can perform normal daily operations.

[EE_]

I'm going to check the tele...this should be big news on CNBC.
The beginning of bank runs around the world?

[Canadian-guerilla]

this could be a big week

Greek elections on June 17

[BrewTech]

I love this comment...


I stopped banking in the early 90's and live on cash only life, and it's working well. I do not buy gold or other BS since it's worth nothing When things go wrong. Cash is king, enjoy the mess.

[osoab]

Looks like no accounts can be accessed until July.

Looks like it was known before Friday that this would happen.

two articles.




First Bank to Block All Accounts; Italy’s BNI (http://the2012scenario.com/2012/06/first-bank-to-block-all-accounts-italys-bni/)


2012 June 9

ould this be the first bank domino to fall in the crumbling of the European and then the world financial markets … allowing NESARA to be ushered in? The article appears in an Italian Language newspaper. I have used Google translator here to re post the article. Below the article you will see the translated version of the letter from the bank to its customers. The last article was published on the Adiconsum website. Adiconsum, an Italian consumer organization with over 122,000 associates formed in 1987 at the initiative of the ICFTU, to protect consumers rights.
Network Bank stopped payments, customers furious

Lettera 43, June 4, 2012

http://tinyurl.com/6q8rqxh

Stop the transaction until July for the crisis of the institution.

Network Investment Bank has suspended payments, causing great inconvenience to customers.

STOP FOR A MONTH.

The institute, in receivership since last November, announced that on May 31, the commissioners, “with the approval of the Monitoring Committee and with the approval of the Bank of Italy, have decided to suspend the payment of liabilities of any kind ‘for a month.

The stop, communicated through the website of the bank, does not include client financial instruments. It was emphasized that “the measure was needed to tackle the difficult situation of the bank.

Angry depositors.

To the rescue – in the few lines we read online – have stepped forward and the group Sim Consultinvest Savings Bank of Ravenna, but in the meantime, depositors are furious . For all spoke Massimo, police in Milan with his wife and two daughters in Messina: “Nobody told me anything and today (June 4), when I went to pay the mechanic, the ATM was not working. Even the credit can do. ‘ MI HAVE REMOVED THE MONEY.”

”Actually,” he added, “I have taken my money. In the book I have only 20 euros in cash and the escrow account where the salary is credited to me, how do I make ends meet? “. And to think that Bank Investment Network has as shareholders the names of the first floor of the financial world: Aviva Banco Popular De Agostini and Sopaf.

“GUESTS OF PERSONS FINANCIALLY ADVANCED.” The customers of Bank Network, financial sources have noted, is composed largely of the “financially sophisticated individuals” able to understand the situation and wait for the definition plan of action by the group and Sim Consultinvest Savings Bank announced the release of Ravenna as special commissioners.

Suspension of Payments:Letter from BNI to its Customers

http://www.bancanetwork.it/content/sospensione-dei-pagamenti
Suspension of Payments
THE PRESS May 31, 2012

On 31 May 2012, the Special Commissioners of Bank Network Investments SpA in Extraordinary Administration (MI), with the approval of the Supervisory Committee and with the approval of the Bank of Italy, have decided to suspend the payment of liabilities of any kind, pursuant to art. 74 of Leg. September 1, 1993. 385 (TUB), for the period of one month. The suspension does not include client financial instruments.
The measure was necessary to face the difficult situation of the bank.

Organs extraordinary Bank Network Investments SpA, an intermediary member of the Interbank Deposit Protection Fund, are developing a plan for solving the crisis in order to safeguard clients’ rights, provides for the intervention of Consultinvest SIM Group and Bank savings of Ravenna. The second article is published on the Adiconsum website. Adiconsum is an Italian consumer organization with over 122,000 associates formed in 1987 at the initiative of the ICFTU, to protect consumers rights.

http://cdn.the2012scenario.com/wp-content/uploads/2012/06/bancaditalia.png (http://the2012scenario.com/2012/06/first-bank-to-block-all-accounts-italys-bni/bancaditalia/)

Credit – NO LEVIES – PAYMENTS OF BNI for account holders

BNI depositors unable to make withdrawals / payments, payments of utility bills, mortgage payments, taxes
Thursday, June 7, 2012

http://tinyurl.com/7o8bh74

Peter Giordano, Adiconsum: “Grave of the Bank of Italy’s attitude that takes action without considering the impact on depositors, and especially on single-income families and pensioners”

Adiconsum Bank of Italy asks for an urgent meeting and the lifting of the Block.
The Bank of Italy authorized the suspension of payments by Bank Network Investments SpA (BNI) without communicating anything to the depositors.
Very serious and unacceptable – says Peter Jordan, Secretary General Adiconsum – the attitude of the Bank of Italy SpA in each BNI, because highly prejudicial to the interests of customers.

Bank of Italy, in fact, after extending the receivership of the bank, thus giving the impression of an imminent rescue, then gave the green light for compulsory winding up, without giving any prior notice to the depositors, leaving them in no condition to perform any type of operation, even basic ones for daily survival, such as withdrawals / payments, utilities payments, rates, taxes.
We must unfortunately note that offensive measures as those adopted to customers BNI – Giordano complaint – not an isolated case. Decisions without taking into account the heavy impact, particularly on savers in possession of a single bank account on which accrediting salary or pension, are not new to Bank of Italy, and also affected depositors of Banca MB.

The attitude of the Bank of Italy – Jordan continues – is bureaucratic and deed and as Adiconsum we asked in a letter sent to the Bank of Italy and the lifting of the BNI and an urgent meeting to define the way in which customers, especially Fixed-income families and pensioners, can perform normal daily operations.

[BrewTech]

(First Domino falls)



Interesting way to put it in this context espcially, considering the origin of the word "domino"..

The name ultimately derives from the Latin (http://en.wikipedia.org/wiki/Latin_%28language%29) dominus, meaning "lord" or "master."

[Awoke]

LOL @ "Cash is king" comment.






















AMMO is king.

[osoab]

Looks like it may get worse

.....

http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)
Europe Brings Out The "Capital Controls" Bazooka (http://www.zerohedge.com/news/europe-brings-out-capital-controls-bazooka)

Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 06/11/2012 - 11:31 Bank Run (http://www.zerohedge.com/category/tags/bank-run) European Union (http://www.zerohedge.com/category/tags/european-union) Eurozone (http://www.zerohedge.com/category/tags/eurozone) Greece (http://www.zerohedge.com/category/tags/greece) International Monetary Fund (http://www.zerohedge.com/category/tags/international-monetary-fund) Reuters (http://www.zerohedge.com/category/tags/reuters) Switzerland (http://www.zerohedge.com/category/tags/switzerland) Here we go:



EU SOURCES HAVE DISCUSSED IMPOSING CAPITAL CONTROLS AS WORST CASE SCENARIO IF GREECE LEAVES EUROZONE - RTRS
IMPOSING BORDER CHECKS, LIMITING ATM WITHDRAWALS ALSO PART OF WORST-CASE SCENARIO PLANNING - EU SOURCES - RTRS
SUSPENSION OF SCHENGEN ALSO DISCUSSED


In other words, that money you thought you had... You don't really have it. We can only hope this message was not meant to restore confidence and prevent future bank runs. Because if Europe wanted a continental bank run, it may have just gotten one.
This is getting scary very fast.

A little more on the Schengen Agreement (http://en.wikipedia.org/wiki/Schengen_Agreement)


The Schengen Agreement is a treaty (http://en.wikipedia.org/wiki/Treaty) signed on 14 June 1985 near the town of Schengen (http://en.wikipedia.org/wiki/Schengen,_Luxembourg) in Luxembourg (http://en.wikipedia.org/wiki/Luxembourg), between five of the ten member states of the European Economic Community (http://en.wikipedia.org/wiki/European_Economic_Community). It was supplemented by the Convention implementing the Schengen Agreement five years later. Together these treaties created Europe's borderless Schengen Area (http://en.wikipedia.org/wiki/Schengen_Area), which operates very much like a single state for international travel with external border controls (http://en.wikipedia.org/wiki/Schengen_Area#Regulation_of_external_borders) for travellers travelling in and out of the area, but with no internal border controls.