Posted Mar 14, 2014 by Martin Armstrong
The side-effect of the Obama-Putin tiff is they have set off a quiet panic around the world. Some banks even in the USA are limiting wire transfers to $2,000 and they must clear before you can send another to the same party. Russia’s ‘My Bank’ has suspended cash withdrawals temporarily. Russia itself is selling US Treasuries it held as reserves. People in general do not know which way to turn right now.
It clearly seems that there may be a growing trend to grab cash out of banks in general given the uncertainty arising from economic and geopolitical concerns.