China Cash Transfer ‘Hoax’ Plays Into Bank Run Fears

Bank run fears were heightened by a false story put out by Forbes’ Gordon Chang, now withdrawn, that claimed that the Peoples Bank of China (PBOC) just ordered suspenson of all cash transfers by commercial banks.

The original report, that the Peoples Bank of China (PBOC) had refused to honor these tranfers, especially from Citibank’s Chinese branches, was soon dismissed by the latter branches’ Customer Service.

In addition, the China Compass has reported that PBOC has said that Citibank should, despite the erroneos announcement, continue to send them orders for cash transfer.

Paul Joseph Watson,, has the story.
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