On Capital Controls | ZeroHedge
"Some of these measures have already been implemented sporadically; customers of Italian bank BNI, for example, were all frozen out of their accounts starting May 31st upon the recommendation and approval of Italys bank regulator. No ATM withdrawls, no bill payments, nothing. Just locked out overnight."
"Simply, capital controls are policies which restrict the free flow of capital into, out of, through, and within a nations borders. They can take a variety of forms, including:
- Setting a fixed amount for bank withdrawals, or suspending them altogether
- Forcing citizens or banks to hold government debt
- Curtailing or suspending international bank transfers
- Curtailing or suspending foreign exchange transactions
- Criminalizing the purchase and ownership of precious metals
- Fixing an official exchange rate and criminalizing market-based transactions"
"Some of these measures have already been implemented sporadically; customers of Italian bank BNI, for example, were all frozen out of their accounts starting May 31st upon the recommendation and approval of Italys bank regulator. No ATM withdrawls, no bill payments, nothing. Just locked out overnight."
"Simply, capital controls are policies which restrict the free flow of capital into, out of, through, and within a nations borders. They can take a variety of forms, including:
- Setting a fixed amount for bank withdrawals, or suspending them altogether
- Forcing citizens or banks to hold government debt
- Curtailing or suspending international bank transfers
- Curtailing or suspending foreign exchange transactions
- Criminalizing the purchase and ownership of precious metals
- Fixing an official exchange rate and criminalizing market-based transactions"
