The United Arab Emirates has declared they will withdraw all money from Qatar Banks immediately, over Qatar's alleged support of terrorism. This will almost immediately crash up to six of the largest banks in Qatar, possibly setting-off a chain reaction around the world!
This is a move of catastrophic proportions, which will immediately affect (and possiby destroy) the following banks:
Worse, other banks around the world, who have lent money to those banks, may now be hit if those banks collapse . . . . thus beginning a downward spiral or world banking, unseen in any of our lifetimes.
One executive from JP Morgan Chase, with whom I spoke in New York City this morning told me:
"Shit just got real."
Well folks, THIS is "it." This is the "Black Swan Event" that no one saw coming: A direct, intentional, sovereign (financial) ATTACK upon the Banking system.
When Monday morning rolls around, EVERYONE who has money in Qatar banks will be at the front doors of those banks to pull their money out. A bank-Run of historic proportion will take place because everyone knows the banks cannot withstand this type of sudden, massive, withdrawal.
In order to cover themselves, Qatar Banks are going to be FORCED into taking THEIR money out of foreign banks. That means banks in Asia, Europe and the USA will be hit . . . MONDAY morning, bright and early!
As panic spreads in Qatar - within hours -- banks worldwide that have lent money to those Qatari banks, will be hit with stock plunges over potential losses.
As those bank stocks (in Asia, Europe and the USA) begin to plunge, people will begin to pull money out of those banks (all over the world) too.
Once this spiral begins Monday, I don't see any way to stop it.
Those with cash on hand will survive. Those without cash will starve to death as global financial Armageddon takes place. As bank-after-bank goes under, credit cards and debit cards won;'t work. People won't have the ability to get cash OR BUY THINGS.
Social chaos could erupt immediately ! ! ! ! ! ! Will you be one of the people left without cash? Without food?
Better get some cash - as much as you can -- then wait and see for a week. If the crisis is contained, you can put the money back. If it is NOT contained, you will be one of the few, able to eat.
Here it comes.
The story above published yesterday, June 10. Lo and behold, here we are the very next day, and no less than BLOOMBERG BUSINESS NEWS has published a story about how Qatar Banks can survive just fine, even if all Gulf Country money is withdrawn!
So for any of you who questioned the validity of this story, or of me as its source, the fact that Bloomberg has done this story - and done it so fast - is proof that my story was, in fact, correct; and The-Powers-That-Be (TPTB) want to make sure they contain this as fast as possible.
They know how dire a bank run would be so they're already taking steps to assuage public concerns . . . . which to me, is all the more reason to be concerned!
In addition to this defacto verification of my story by Bloomberg, there have been additional developments with Qatar since yesterday:
Senegal has cut Diplomatic relations with Qatar,
Chad has cut Diplomatic relations with Qatar.
Niger has cut Diplomatic relations with Qatar.
The Qatar Foreign Minister, speaking publicly in Moscow yesterday, openly declared We want positive relations with Iran
Turkey has approved deployment of 3,000 Army Troops to Qatar immediately, with another 10,000 troops to follow.
Pakistan has approved deployment of 20,000 Army troops to Qatar immediately, 2,000 arrived today.
The shipping and airfreight embargo by its Arab neighbors is having DIRE effects on the food supply in Qatar; with Turkey having to ship TONS of food on an Emergency basis:
Iran has sent 5 cargo planes to Qatar, each carrying 90 tons of food & vegetables, plus additional 460 tons of food by sea.
German Foreign Minister Gabriel has told newspapers that the Qatar crisis 'could lead to war'
Another Banking name has now been brought to my attention: HSBC Bank Middle East Limited.
This is the largest and most widely represented international bank in the Middle East and if United Arab Emirates pulls all its money out, HSBC Europe could be hit immediately and very hard. The lack-of-liquidity contagion would hit Europe immediately.
Australia has a public holiday on Monday, so if things get rough in the banking system, the Australians will not be in any position to do anything until Tuesday; thus making Australian exposure quite worrisome since they won't be open to even react.
Very curiously, Qatar announced they will pay former US Attorney General John Ashcroft $2.5 Million To "Defend Against Terrorism Accusations."
Defend against what?
This accusation of Qatar financing terrorism isn't going to court! But there may actually be a war; which Ashcroft would be powerless to stop.
Those are the interesting updates so far. More to follow if necessary.