South Korea Suspends For Savings Banks for Six Months in Liquidity Crunch
"South Korea’s Financial Services Commission suspended the business of four local savings banks for six months from today due to a liquidity crunch.
The four banks are Bohae Mutual Savings & Finance Co. and three subsidiaries of Busan Savings Bank -- Jungang Busan Savings Bank, Busan II Savings Bank, and Jeonju Savings Bank, the financial watchdog said in a statement today.
“They have suffered a bank run” after the recent suspension of two other banks, the FSC said in a statement after a meeting at 7:30 a.m. today. “We concluded that they will not be able to meet demand for withdrawals, eventually hurting depositors’ interests and credit order.”
"We’ve learned from well known metals analyst and commentator Roger Wiegand, in an email to silver analyst David Morgan which was subsequently published in Morgan’s latest Silver Investor newsletter available only to subscribers, that several of Wiegand’s high level inside sources have reported that the puppeteers behind the US government, in order to facilitate a move into a new world currency are considering, or may have already begun moving forward with, a plan to confiscate gold and silver from the American public."
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