*Updated 4pm EST with notice to customers from National Bank of Panama’s website
This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October.
The National Bank of Panama claims that the reason for the 5 day bank holiday is to upgrade systems.
The Clave (Debit Card) system has been taken offline. No wire transfers between banks and internationally until the 1st of October.
This system wide shutdown has country wide implications. The National Bank of Panama did not warn the people before making the announcement and shutting down the banks. The people do not have access to ATM’s either. We received word of this from family members first. This weekend is payday for people across Panama.
Is the next Cyprus-style bankster bail-in about to be implemented in Panama?

2013 Gold Eagles As Low As $51.49 Over Spot at SDBullion!

Gold Eagle 2

 

*SD reader PK has provided us a first hand boots-on-the-ground update Saturday morning. on the BancoNational bank holiday.
Click here for PK’s first-hand update on the situation:

Submitted by Randy Hilarski:

I am active among the Gold and Silver investing community. We have been discussing at great length about the possibility of bank holidays in countries on the Dollar standard. Could Panama just be the first domino to fall in the banking system? Could this be more than just a system upgrade? Why not tell the people ahead of time to prepare for the closure of the banking system?

What are some reasons for a bank holiday? The National Bank of Panama says it is a system upgrade, I don’t believe it is that simple. Maybe a Dollar revaluation could be coming soon. Maybe it is something more serious like a banking crisis like we had in Indonesia back in 1997 or more recently in Cyprus. I am hoping for the best and preparing for the worst.

What are some things you can do to protect yourself if Panama is just the first signal of a pending banking crisis? First and foremost make sure to have some cash. Second buy the essentials for your family. Be frugal until the storm passes. I know this sounds simplistic, but those who are prepared will be fine.

I feel for the Panama families who live paycheck to paycheck. They were expecting to be paid tomorrow. This is the time that they go grocery shopping, put gas in their cars and pay the bills. This delay will  have wide ranging affects on the people of Panama.

Do not be unprepared, you have it within your power to be ready for such a situation!

*Update:

The Clave (Debit Card) system has been taken offline. No wire transfers between banks and internationally until the 1st of October. Panamanians will be required to go to their local bank branch to take out cash.

Notice on the Bank of Panama’s website regarding suspension of service:

English translation:

The National Bank of Panama reports that next Friday September 27 branches across the country will be open only until 12:00 noon. Also, on Saturday 28 and Monday September 30 our branches will be closed.
Our ATM’s, debit card use Banconal of sales points and shops, in addition to banking services and infovoz Online will be unavailable on Saturday 28 and Sunday 29 September.
These suspensions of services are required to implement Phase 2 of the upgrade process of the technological platform of the entity.

 

Got PHYZZ??

*SD reader PK has provided us a first hand boots-on-the-ground update Saturday morning. on the BancoNational bank holiday.
Click here for PK’s first-hand update on the situation:

October Silver Giveaway

  1. Didn’t there used to be a US expat on SilverDoctors who lived in Panama?
    I think his handle was ‘PolloKeeper.’
    @The_Doc may have his email* and can send him a private note in order to get an inside view of what is going on in Panama.
     
     
    * That is, if Panama’s email & Internet system hasn’t also been shut down for a ‘system upgrade.’

  2. The news is reporting that the UN has just released a report claiming ‘Climate Change’ is caused by man, ie, ‘scientist’ claim ‘more than 50% of Earth’s rising temperatures are attributed to man’s activities’.  Let everyone realize that is a patent lie.  First, notice how the term ‘Global Warming’ has in recent times been abandoned in place of ‘Climate Change’, because the Earth’s temperature hasn’t really been warming in recent years.  Secondly, the Earth’s temperature is more affected by the Sun than anything else.  The Sun is what dictates what happens to temperature’s on Earth overall, and man’s activities have less than 10% impact, likely much less in reality.  Finally, the ‘Climate Change’ story is the banker’s scheme for extracting even more wealth from the mass of common people, by instituting additional taxes of all sorts (‘Carbon Tax’, etc) all over the world, in the name of ‘saving the planet’.
     
    The news quoted Al Gore as saying that ‘Climate Change is the greatest crisis facing humanity today’.  Perhaps he is incorrect.  Instead, the continued use of debt-based fiat paper currency as money is the greatest crisis facing humanity today.  Certainly, more people in the world have been affected negatively from the use of debt-based fiat paper currency as money than from all climate-related calamities combined.

    • Well said Plebian. They will enforce this bullshit carbon (breathing) tax. If anyone doubts the abject slavery waiting for those who don’t anticipate and prepare for it, then this should convince them. A BREATHING TAX, for that’s what it is, enforced by the UNITED NATIONS, the same people who want to de-arm the world. The tax will be deducted from the RFID chip of each slave, without them having to do anything. Better be TOTALLY prepared and out of sight in the world.

    • @Chief
       
      Don’t know about you but I am too old, seen too much pain, and am fresh out of patience with all this BS.  They are NOT putting a damned chip on or in me.  If they insist, they’d better come big AND heavily armed.

    • @Ed_B … I am exactly the same. I will not accept the chip, under any circumstances. Unbelieveable times we live in .. every day, I can’t believe this is the way it really is. When I was young, like most, I believed in the whole system. Now, it’s like I have 2 lives going on at once … before and after I discovered the truth. Take care.

    • @Chief
       
      Yes, the times are unreal but they are teaching me, and I am sure many others, that it is not old age that kills people.  We simply get tired of all the BS and check outta this hotel!  lol
       
      Yes, many of us believed in the system at one time.  Parts of it are still working as they should but many are not.  The Founding Fathers would definitely be shooting by now, although a lot of what the TEA Party stands for would make those gentlemen proud.
       
      I know what you mean about the dual nature of this.  There used to be a song sung by The Carpenters and others that was called “Breaking up is hard to do”.  In this case, the song would be “Waking up is hard to do”.  But like a bell that once rung cannot be un-rung, once people are awake they can never go back to dreamland again.  I’m not into the entire thing presented by the alternative media by any means because BS knows no bounds and can be anywhere but a lot of it is good info that checks out when researched.
       
      Take care, brother…
       

    • @Ed_B … ‘it is not old age that kills people. We simply get tired of all the BS and check outta this hotel! lol’

      Very perceptive. I hadn’t realised that, but you are so right. I guess it could be called having options for the 99%, lol. True also that the BS knows no bounds – incredible how deep it goes, a couple of years ago, I thought I knew the truth, but wow, was I an idiot., lol. There’s a line in a Steely Dan song (I have always loved them, but they do the old programming thing aswell, along with most of the popular music I have liked) … ‘you’re younger than you realise’. It feels true, because I regularly surprise myself, LOL.

      To get music that is not tainted with BS programming, and that is played by real people, I recommend Salsa, Cumbia, Rumba, Vallenato, and others, all from Colombia. The good stuff is old and still widely listened to, and they sing about the little things of life that we all know well, like loving a pretty girl without a heart, like having ‘sancocho’ (soup with meat and potatoes) after a wild party, like the beauty of the land, and alot more .. and the music is dynamite for the soul, nothing is more alive than this music. Also, tango .. especially Carlos Gardel – tragic and beautiful, recorded in the 30′s. USDA guaranteed BS-free, lol.

      Take it easy.

    • @Chief
       
      That HAS to be it, man!  It’s not that we wear out, we just get too BS-battered to want any more of it.  Also that BS has no bounds.  It’s like the Einstein quote about the difference between genius and stupidity… with genius having limits!  lol
       
      A lot of the older things are MUCH better than most of the new ones.  Man, I LOVE those 1930s and 1940s movies.  Even the 1950s movies.  Lots of good stuff there with drama, war, and cowboys… names like, The Maltese Falcon, El Cid, Citizen Kane, The Third Man, The Grapes of Wrath, anything by Hitchcock, and big Hollywood names like Bogart and Bacall, Danny Kaye, Bing Crosby, Bob Hope, George Burns, Jimmy Stuart, Henry Fonda, Joseph Cotton, Claude Rains, Errol Flynn, Gary Cooper, Cary Grant, Gregory Peck, and many more.  Lotta good stuff in there.  :-)
       
      I’ll check into some of that music you mention.  Any of it in English?  That would be good.  My high school Spanish has about worn off.
       

    • @Ed_B … Agreed, the old things are better than the new, for sure. Here are a few samples not in English, but the music is the best bit .. for me anyway :) I hope you like them
      Grupo Niche, Aventura …. http://www.youtube.com/watch?v=uUCVdLPkypM  
      Rodolfo, Fiesta de mi Pueblo … http://www.youtube.com/watch?v=BCO_3-eW5fs
      El Gran Combo, La muerte … http://www.youtube.com/watch?v=u4EwI7kKbJ8&list=PL6FCCF259C5DFE685
      Carlos Gardel, Intimas … http://www.youtube.com/watch?v=02zl_f0dClU
      Barry Douglas, Danny Boy (both from Ireland) … http://www.youtube.com/watch?v=VKrp8igRV3c

    • Very nice, Chief.  I copied all of the video URLs and saved them for further listening.  I also have the SaveTube program that allows me to save YouTube videos as standalone .mp4s and music as .mp3s.
       
      One of my favorites is…
       

       

  3. National Bank of Panama suspend their services this weekend

    WRITING PRENSA.COM
    internet@prensa.com

     
    Topics:

    Panama National Bank

    PRESS / File

    BNP reported that on Saturday 28 and Sunday September 29 will stop using Banconal key cards.

     

    09/26/2013 – From noon tomorrow, Friday, September 27, until Monday, September 30, the National Bank of Panama (BNP) suspended its services to implement Phase II of the process of updating its technology platform . reported that BNP on Saturday 28 and Sunday September 29 will stop using key cards at ATMs Banconal both the entity, and the rest of the banking network across the country. For this situation, reported that ACH transactions received through Online Banking on Friday until noon on Monday will be processed on Tuesday, October 1.

     
     
    I fondled this da.

    Panama peeple told about thies on 17 of month, this not sodden.

    • very interesting … do you have a link to the announcement on the 17th ?? 
      It does seem a bit strange to disable payments and withdrawals in this way. It has never been necessary to do this in the UK in all my time there. This is also a strange time for this to happen, given all the BS that’s happening in the USA and at the UN just now. It will be interesting to see what happens next week.

  4. Plebian, not sure what Global Warming (or ‘Climate Change,’ if you prefer) has to do with banking holidays but since you mentioned this…it has been reported that due to Global Warming the Siberian permafrost is melting, and the massive amount of frozen Mammoth dung is defrosting.  This is releasing huge quantities of methane into the atmosphere and contributing to the greenhouse effect, which is warming the planet.
     
    Perhaps Alexi can elaborate further on this topic.  да

    • @Mammoth … there has been so much predicted about climate change, which hasn’t happened. It used to be predicted that plane flights would get super bumpy, but they are just the same. The Maldives govt, a few years ago, had their council meeting under water (for god’s sake!) to draw attention to the fact that they were the lowest land in the world and that soon they would be gone!!! But they are still there, and just the same. At the same time there were all those map apps that showed the effect on the world’s land, with different levels of sea level rise, but NO land has been affected whatsoever. It’s total BS, the whole thing, and the BS was set up for precisely this thing, .. the breathing tax (officially named .. Carbon tax).
       
      The climate change, like so many ‘events’ these days, is MEDIA-ONLY. It’s so easy to print whatever in support of whatever, and they sure do.

    • LOTS of things have been “reported”.  A few of them are actually true.  According to the NASA photo that Nigel Farage was waving around in Brussels recently, the arctic ice cap is 60% bigger than it was last year at this same time.  That is one helluva large increase in 1 year.  But then, nature is like that.  It does not always run on a schedule.  It does it own thing in its own way AND in its own good time.
       

    • @PrometeyBezkrilov … So, you believe that ‘information is information’. :)  And, by implication, you don’t believe that the same event appears differently depending on who reports it .. the essence of the humor in chinese whispers. And, you believe that you know better than us all here, the classic arrogance of those of limited knowledge who are afraid of the vulnerability which learning entails.
       
      Notice that I don’t talk down to you, as you do to me because, despite your limitations, I have respect.

    • @Chief
      Hey, you name on this blog tells everything. One who wants to be treated as a leader. Do you suffer from Napoleon complex or something? Chief. First of all, I never evaluated your or anybody else’s level of knowledge, for I don’t really care. I presented the information-you want it, you’ll take it. And yes, would you pay attention to Reuters or Associated Press news? I would. But on another hand do I know? I am not Chief, I am some low level peasant who dared to question some opinionated peacock on the blog.

    • @Mammoth
      and the massive amount of frozen Mammoth dung is defrosting… 
      If this trend keeps going, I am sure AlGore and his goons will declare “open season” 
      on all remaining mammoth species and eliminate them from the Earth, to appease 
      “Mother Nature” lol

    • @undeRGRound , my comment about the “massive amount of frozen Mammoth dung” was merely a subtle reference to the fact that the ‘climate change’ folks are full if sh!t.
       
      Having only closely recorded weather patterns and trends for a little over a century, and having the precise instrumentation to accurately measure exactly what the weather is doing for only a few decades – how can anybody say for certain what the long-term trend of the weather on this planet is?

  5. Been thinking about all the manipulation.
    I liken it to an Outlaw leader robbing three banks and giving all the two first small loot robberies to his followers, then taking the biggest loot from the last robbery 10 times bigger than the first two and killing off his followers. Sounds suspicious as in JPM and Goldman Sachs led by the Fed.
     

  6. Hmmmm
    Panama uses the USD and the Panamanian currency.  I’ve not heard a peep from any blogs or other sources about Panama and it’s banking system having troubles.  I read about 5 different subscriptions that concern expats and offshoring accounts etc etc.  Not a peep.  If there was anything that was troubling, my daily and weekly subscriber sources would have lit up
    As a former banker who went through the 1989-1994 banking crash, where over 1,000 banks were taken over by the gummint under auspices of the FDIC and the Resolution Trust Corp (RTC), the only time a bank closed their doors for more than 2 days was a national holiday that coincided with a weekend or they were being taken over by the Fed.  The FDIC would walk in on Friday about 4 PM, send everyone home and the hit squad would take over.  On Monday the bank MIGHT reopen with a different flag flying on the pole.  These takeovers were orchestrated weeks in advance as the Feds would first issue an MOU (memo of understanding–a formal wrist slap) and then a C&D (Cease and Desist) that formalized immediate corrective action that the officers and board must take or otherwise the bank would be closed.  Most that fell into an MOU quickly rotated to a C&D.  Once that fate day came, the bank’s days were numbered
    The RBS and Northern Bank stopped their systems for several days with ATMS off line and account payable and receivabled problems cropping up that prevented customers from taking care of their obligations.  But as far as I have ever seen, no bank shuts down in advance of a software and process up grade.  A bank deals with this without shutdowns and customer hitches.
    We went through that many times at our bank.  The process was done at night, on the weekend or compartmentalized off line so that clients were not disrupted.   Heaven forbid we were out of business for even a second.  That meant we were not making money  Whoo Hoo
    I don’t know how they do things in Panama but if it was a US Bank I would say the crap had hit the fan and that bank, particularly if it was a SIFI type, was in deep trouble and things could unravel from there.  I assume that NBP is a large bank in Panama but large or small,  being closed for 5 days is pretty much unpresedented.  Monday will be an interesting day in Pamana.
      Maybe a bail-in.
    Maybe a failure.
    Maybe just what they said.  I am not sanguine about # 3, thinking that 1 or 2 will be the result.
    Panama is a strategically important country with a large expat community and that big ditch.  It would be interesting to see if the Chinese were lurking in the wings.  They want to build a second canal.  A major disruption to the Panamanian banking system was to occur that would probably benefit their venture.  Where there is weakness, move forward.

    • Here is the translation:
      The National Bank of Panama reports that next Friday September 27 branches across the country will be open only until 12:00 noon. Also, on Saturday 28 and Monday September 30 our branches will be closed.
      Our ATM’s, debit card use Banconal of sales points and shops, in addition to banking services and infovoz Online will be unavailable on Saturday 28 and Sunday 29 September.
      These suspensions of services are required to implement Phase 2 of the upgrade process of the technological platform of the entity.

    • @Chief
      In the first place do not put words in my mouth. I never claimed I knew better or everything. I said it shouldn’t take a PhD to check a fact, especially of that magnitude, without waiting what other blogs are going to say about it. So what is going to happen in Panama? Will see at the end of the bank holiday, but as an idea. US was a wealthy country, so when some people with a bit of money figured out what is going on, they started taking money out to off-shores, and these off-shores are known to the Feudal Reserve. They cannot figure out where 1.2 billion dollars from MF Global accounts went, but they surely know where you transferred your 5K dollars. They are going to go after all slaves that fled their plantation. That’s all there is to it. Some countries like Iran, Syria, Panama have some geo-political significance though. If you want to know in two words what will happen, here is the answer: extinguishing of wealth. There are two groups of people: wealthy and poor. Poor are going to have a squeeze with Obamacare, taxation and utility rates. The wealthy will have their money stolen Cyprus style.

    • “But as far as I have ever seen, no bank shuts down in advance of a software and process up grade.  A bank deals with this without shutdowns and customer hitches.
      We went through that many times at our bank.  The process was done at night, on the weekend or compartmentalized off line so that clients were not disrupted.   Heaven forbid we were out of business for even a second.  That meant we were not making money  Whoo Hoo”
       
      I agree, AG.  Over the past 50 or so years, I have had several banks.  They all went through upgrades of their systems, both hardware and software.  Not one of them EVER shut down during business hours, ever.  While this does not prove that the bank in Panama is toes up, it is not any kind of a good sign.  Banks make money by servicing their customers.  They cannot afford to be off-line during business hours if they can possibly avoid it.  There definitely seems more to this story than we have so far.  Not sure what, of course, but there IS something afoot.
       

    • @PrometeyBezkrilov
      There is a subtle difference between my patronising and yours. Let me explain (further patronising ;) ).
      You came on here and rubbished people without need, quote ‘you people need to use your own brain’.
      Bearing in mind this was directed at AGXIIK, who is one of the most respected of posters here, I found it an odd attack. Especially as his post mentioned looking for info and some reasoned possibilities, it seemed a somewhat unwarranted reply.
      Much better I would have suggested you came here offering up your useful info straight from the Bank website, thus you would have got qudos for bringing something to the mix.
      However, instead you came across as insulting and thus got my comment.
      So the subtle difference was you needlessly insulted – not a good look.
      Whereas I wore the look well by pointing out your rudeness.
      If I come on here and insult needlessly, I would expect to be slapped by others here.
      I’m sure if I am wrong in this view, others will reply to this, and put me in my place. We’ll see. If so I will reply with grace.
      JC

    • @Jccjktj … well said, I agree 100% in your reply to Prometey. He’s not a troll IMO, just a guy with a bad attitude. Trolls want to change our minds, which cannot be done with insults, as they only lead to resistance.

    • @Chief
      I’m with you, I don’t think he’s a troll either, just needs think before typing.
      I am all ears for information, I’ll digest and decide if it’s useful. But whether it’s good info or not I don’t add derogatory comments.
      I’ll happily have a verbal/text battle to see what holds, as I had with someone a while back that offered up ideas but couldn’t back them up. And if I am wrong I’ll gladly admit to not knowing enough. Or if the discussion is fair and there are two polar opposites, it can be time to step back and agree to disagree. That’s all fine.
      Insults don’t sit well. Trust me, I can step up like the best of them if required. Although maybe with not as much swagger as ‘Inthemix96′ on ZH – has a Geordie class of his own (apologies, might be a reference the doesn’t make sense).
      JC

    • @Jccjktj
      Looks like you are offended by the phrase that one needs to use one’s brain to process the information. Is there anything wrong with using brain? Or you are pissed because you didn’t use one? Second of all, I don;t get a rat’s ass about your hierarchy on this blog. Most respect, less respected. Who cares. Everyone makes mistakes. That’s why everyone else needs to use the brain. Don’t just gobble the information thrown at you-check it. 1.5 quadrillion of derivative, 650 trillion in derivatives. Nobody has an exact number. Well, go to the BIS website, pull the quarterly report and see the number. But sorry pal is “use you brain” phrase offended you. Don’t use next time, you’ll be fine. But to rest this case, my statement didn’t mean to assault anyone, it just meant what it meant. You hear the information, you analyze it, then you go and check it. I don;t care what ZH or any other blog says, I have own brain and my own opinion. Isn’t this the ultimate freedom to be able to think what you want without being patronized? By the way, I absolutely hate your statement about the Russians. Trolls are sitting in your White House (should be renamed as Mad House) and in your Congress. The rest are just trying to help. I don’t remember evil Russians or Iranians spraying entire countries with Agent Orange where children till this day are born with horrible deformities. If I were you, I would just for once sit down and shut up.

    • @Alexi Verennikov, No, my friend, you are definitely NOT a Truck! I find your comments humorous and enlightening. 
      I see just a bit of the old Soviet/U$ rivalry in your posts, and also @PrometeyBezkrilov ‘s posts as well. Both intelligent 
      and sometimes diametrically opposed to our U$-centric world view. I used the term “russian trolls” in quotes, as a tongue in
      cheek stab. Sometimes your posts are so funny in a stereotypical way, I really do LOL!!! 
      No offense meant, and now I fear that Prometey has taken offense at what I said and directed it towards JC. I enjoy posts from 
      all out international readers, it lends insightful views into our own country, as seen from the outside. We MUST acknowledge our 
      stupid handling of our “world reserve currency” status, we could do so much good with it, but it has caused so much evil, and 
      it will only get worse! 
      Prometey, you are correct, “trolls in the White House” and it is bad for the whole world. 

    • @undeRGRound
      RGR, your being way too nice to PB. This guy seems to have one rule for himself and another for everyone else!
      He can be patronising and insulting, but don’t throw it back at him, because he can’t handle it.
      All along I kept offering an olive branch, by saying he had offered up some useful info, but not to rubbish people about it, but, he never saw that, just carried on being rude. It will be interesting to see if my last comment gets through moderation.
      JC

    • @Jccjktj
      My work environment is so rough that I rarley take an insult as such. You are correct, we are a FAMILY here, and 
      sometimes Families have squabbles. Sometimes, it is just staking out territory. Prometey had a good point, we need 
      to find supplemental info on our own, sometimes… The Doc encourages this, as anyone can add links in comments 
      and he will add it to the top story as an update! PK contributed a whole article on this very topic! Prometey may have 
      some preconceived biases, but overall, I just ignore that stuff and look for the meat of the poster’s topic. I hope the 
      SD readers and other places that I post are as gracious with my postings… sometimes I ramble, or miss the mark, or
      just GET IT WRONG! Like in real life!
      As for life, fellas, it is TOO SHORT to fight about manners! Sorry for lecturing, but it has been said, and I ain’t takin’ it Back!  
      lol

    • “My work environment is so rough that I rarley take an insult as such.”
       
      If there is no blood dripping afterwards, then it wasn’t much of an insult.  ;-)

  7. PS   Shutting the people out of a Panamaian bank for 5 days, leaving them without the means to conduct their business, pay bills, cash checks and take care of their families is some hard bark.  With the US expat community and their billions in pension plans invested into Panama, it makes me think this smells like Cyprus when their entire system imploded and 30 billion euros were vaporized in one of the biggest bank heists in history.  Thousands of UK expats had their life savings stolen overnight.  I hope this is not what is happening here.  It’s one thing to have something like this happen in Cyprus.  it’s another thing to have it happen in our hemisphere.  The rot appears to be spreading.  Maybe it would be a good time to move a few shekels out of the bank and into some shiny metals  That is a good price on the Sunshine Mint silver coins

    • One thing that occurs to me about Cyprus is that it is a divided island, part Greek, part Turkish.  Given that, I bet that the Turkish part of Cyprus had no banking problems whatsoever.  But we didn’t hear a peep about that, did we?

  8. Nothing on ZH. They’re still talking about Keith Richards and Heroin.  SGT picked this up in the AM, time unknown, through Goldseek and Hilarski’s article.  Pollokeeper was a regular and bought silver at $42  Ouch–we know how that hurts.  He is in the tullies, 2 hour scooter ride from Panama City so his intel is probably going to be a good Pamana Street version
    No one else in my blogosphere has a sniff of this.  Maybe SD scooped it.  I hope Hilarki did do this as a pimp job.  

  9. Looks like this is the largest bank in Panama, going by the list from the link below, and is one two government owned banks:
    http://www.panamaforum.com/panama-banks/9372-panama-banks-complete-list.html

     Government-Owned Banks

    Banco Nacional de Panamá
    http://www.banconal.com.pa

    Slogan: N/A
    Date: 12/10/1904
    Address: Torre Banconal, Via España y Calle 55
    Branches: 62
    Employees: 2542
    Capital: $500,000,000.00
    Country of Origin: Panama
    Phone: +507 505-2000

    The bank apparently performed similar update to technology 18 months ago:

    http://www.superbancos.gob.pa/documentos_ing/news_events/2012/AP_Cierre_Banconal_EN_REV.pdf

    [Thursday, March 29, 2012]
    Banco Nacional de Panamá Will be Closed to the Public; the Rest of the Banks Will Follow Normal Schedules

    The Superintendency of Banks reminds the general public that Banco Nacional de Panamá will suspend its service to the public from noon on Friday, March 30 through the end of Monday, April 2nd.
    According to Banco Nacional de Panamá’s announcement, it will be closed to update its technology platform, modernizing it so as to provide more efficient service to its clients.
    It is important to point out that the rest of the banks in Panama will be open for business on their normal schedules during these days.

    At the same time, we remind the public that Banco Nacional de Panamá’s Clearing House will not be open on Monday, April 2nd.
    Given the above, we recommend that everyone take the necessary steps to avoid potential problems.

  10. Are they still introducing the new $100′s on October 8th?  Any chance they may say at the same time that old 100′s have to be turned in, or they expire on some future date?  How would something like that impact the (I suspect) cash-dependent Panamanian economy, seeing as how they use the dollar?  

    • Juni,
      Whatever if anything is introduced by The Treasury Department about the Gold stain 100 dollar bill has been played with about on introductory dates for quite awhile. Regardless it will be a stop gap measure to further screen the real financial problems of The Fed.
      Most likely it will have no more value than the one below.

  11. Work for IBM . I do a lot of the upgrades for banks and the big box stores. It dosent take 5 days to do upgrades. If it is the main servers or router it is done instantly as the new servers are already installed and then you do the cutover at a certain time. If they are talking about the machines at the branches its overnight to install for each branch. Both old and new machines can work concurrently so there is no impact.
    MAYBE THEY DO THINGS DIFFERENTLY IN PANAMA   

    • 10-4 would be a good one, right before the $100 bill rollout. 
      I have seen rumors of a revaluation, and to further throw gasoline on an otherwise 
      “Fuelless-Fire”, the US Treasury issues $50- 1 oz Gold coin and $1- 1 oz Silver coin,
      leading to a conspiratorial conclusion of a revaluation and re-indexing of the GSR to
      50:1, which is an INCREASE, but nowhere near where it should (or could) be. SILVER BUGS, 
      be ready to march on Washington! lol 

  12. Wow  My cable service was down for several hours so I could not respond to this Panama bank issue after the first 2 posts.  After spending s couple of hours building shooting targets for our ‘run and gun’ tomorrow (Whoo hoo) I finally got back on line
    Promy B  Just so that you understand why I was quoting some of the sites I blog hopped before jumping into the commentary fray, we at Silver Doctors have been chumped and pimped by false flag news blasts, posting like mad about what appeared to be a very hot item only to find it was a flop.
      Silver Doctors got the scoop on this Panamanian intel by a couple of hours and running through my usual 20 regular sites, other than SD, only SGT had this up and running. During this research I dived into the http://www.randyharski.com site. He is a 8 year veteran, writer of this essay, born in Panamanian  and expat to Panama after his naval service.  He seems like a regular guy and so when he posted this it had the sound of reasonable ‘boots on the ground; street level’ intel.  He is passionate about gold and sivler according to his site, a prepper to boot  and so I  shipped an email to him before my internet service went down.
    As for reading ZH, Alex Jones or Jim Willie (disclosure–I am a subscriber to JW) I data sift and cull information  from 20 regular internet alternative news sites, maybe another 20 off the grid sorts, at least 10 paper subscriptions and 3 newspapers a day. I have no favorites except SD and TND (that is now my first go-to site, starting about 4 AM this Friday.) I had to deal with some fuquetards on the HOA so I wanted to be up and ready for this douches.
     TND is kind of like the alt news WSJ and good for a solid overview review to start the day of intel gathering. That way I can find out if the world came to an end overnight.   If it didn’t, then I brew a bucket-o-coffee and start my usualy 5 hours of blog hopping interspersed with my on lines businesses.  If it did I’d go back to bed and sleep it off.
      I really hope this is a situation normal for this bank and not a total FUBAR but I am not convinced there is something afoot that will end up hurting the homies in Panama. Pollokeeper is a hard scrabble dude about 2 hours of scooter time from Panama City.  He has made it clear that living in his area of Panama is a little like  a third world.  If this shutdown of a maor bank is 5 days it will hurt the just-folks in the hustings.
    BTW  I know that China has its eyes on the second canal, one that could be placed in  Nicaragua.  That sort of boot in the ass of the US interests in central America would be just the sort of thing that they would do since we’ve spent 60 years ring fencing China’s access to the blue water and trade routes with many substantial military bases and that large aircraft carrier called Japan.  Anything that upsets Panama with some  sort of banking problem  as the first round would play into their hands. Russia is capitalizing on the Cyprus theft scandal and putting their feet into that island with either military assets or financial assistance
    Cheers and keep your fingers crossed for the Panamanians

    • Chine is a huge buyer of commodities off of the PNW, the development there the last 10 years is stunning.  PNW – Pacific North West.  Also big buyers of containerized commodities out of the port of long beach, waste paper, scrap metal, ag commodities, etc.
       
      Ships are getting bigger and as long as domestic rail doesn’t completely fall apart then us will still be able to be a big shipper to china off west coast.

  13. @Ranger said…  “On any given Friday, IMO the U S meltdown will possibly happen on one of the following dates.
      October 4, 11, 18 or 25th are open possibles with the current financial conditions.
    —————————————————————————————————–
    What year…?

    • MAM,
      You remind me of my dearly departed grand mother (she just departed, nobody knows where she went) she always said, “Don’t dispute my word or I’ll knock the whey out of you!” I didn’t want to lose any whey what ever that was, but many years later I discovered that whey is a bi-product of cheese! So I have a jar of whey and use it to tell the future and the possibility to your answer is 2013, so go forth and pray that your whey is not knockable.
      Kind Regards,
      Ranger
       

  14. Hello all.  I only now just got the word that the Banko Nacional bank has shut down supposedly for 5 days.  I do not do business with that bank.  I have several other bank accounts.  I plan to go to both of my banks and withdraw cash this morning.  I will let the forum know if I had a problem or not.  I usually do not go out on payday weekend to the bank.  Long lines etc.  I expect long lines this morning.  It is usually not a problem withdrawing large sums of cash but I have a suspicion that the bank will give me a hard time about it this morning.  Panamanians are suspicious and do not trust banks.  I suspect that all banks will have long lines with people trying to get their money out this morning.  This news is truly not good news.

  15. Panama banking report.  I just came back from town.  It is 10:39 eastern standard time, we don’t use daylight savings here. 
    I went to my bank, MultiBank which was open and withdrew a large amount of money.  No questions asked.  All 20′s.  I needed a big bag to walk out with this.  There was only one person ahead of me in line.  Monday, I will return and do the same thing.  I also went to my other Bank, BancoGeneral, and withdrew 500 dollars from the machine.  There was only one person ahead of me.  
    Apparently there is no panic here as of yet.  
    My wife went into a few tiendas just to get the feel of things.  The wives are talking about nothing else except this bank holiday.  BancoNational is the National bank.  This is where all the pensioners etc do their business as this bank is where all pensions get deposited or at least the vast majority of them.  On Payday, which is twice per month you would expect lines at the bank going out into the street and 2 police officers gaurding the chaos.  Of course, the bank is closed for the next several days.  
    I didn’t notice anything unusual in town.  The town is packed with people doing normal business buying food etc as this is the payday weekend.  No panic.  The bars are full now, very early with the men drinking beer which is normal very early in the morning.  I did notice several men bringing in containers full of change so they could buy cheap beer.  
    So, there is a problem but no one is panicking yet.  
    I have zero trust in the system so I will be preparing and storing cash in the safe.  I have preps also.  
    This incident is a harginger for the future that is for sure.  
    It is not normal for a bank to close down on payday weekend when people need to buy food if this is nothing more than a shutdown for administrative purposes.  Count on that.
     
     
     
     
     

    • Welcome back, PolloKeeper.
      Thank you for keeping us abreast of the scene on the ground there in Panama.
      Be sure to keep your wealth well-hidden; I prefer the ‘Bank of Shovel’ to having a safe.
       
      Your comment, “The wives are talking about nothing else except this bank holiday” is quite telling; things may be relatively quiet at the moment, but you will see whether the people there get fired up about this within the next few days.
      Especially if the Bank reopens with an announcement that they have just ‘Corzined’ 20% of everybody’s bank account.  And it this happens, it will be interesting to find out who made BIG withdrawls right before the Babk closed.

    • And there you have Panamanian life – The wives are in the tiendas worrying, the men are scrapping together whatever they can find to buy beer. Lol.

    • @Jccjktj … ‘And there you have Panamanian life – The wives are in the tiendas worrying, the men are scrapping together whatever they can find to buy beer. Lol.’
      @Mammoth … ‘change ‘tiendas’ to ‘apartment courtyards,’ and ‘beer’ to Vodka’ and you could say the same thing about Russia’
       
      I was just about to post the same. I think that’s a familiar picture all over, LOL.

  16. It is my guess that nothing is going to come of this banking holiday.  It is a set up.  Get the people used to it.  Make it seem normal, like a power outage or a water outage.  Then, when the big bank holiday needs to happen no one would be the wizer.  There are a lot of banks in Panama.  I think at least several hundred.  Panama is a very important banking hub for the rich to hide money.  This incident needs to be seen as a harbinger for future bailins.  

  17. Panama banking is not as important to US interests as it would be to other nations.  Panama has signed treaty’s with the US that forces Panama to give information to our IRS about our accounts.  We have no banking secrecy here, similar to what has happened to Swiss banks.  In fact, it is very difficult for a US citizen to open a bank account here.  You actually need an attorney to open an account here and it takes usually several months to open the accounts.  Canadians for example do not have this problem and they can just walk into a bank and open an account in a few minutes.  Americans have very little freedom any more when it comes to your money.  It is rumored that there are IRS offices in the US embassy and they have free reign as far as being able to call a bank and find out how much is in your account and get statements as to your banking activity.  If an American is caught with an account that is over 10 thousand that is not current with the FATCA standards than the IRS can seize the majority of the money in the account.  Draconian but true.  Yes, Panama is still an important banking hub for individuals but certainly not for Americans.   

    • Not much point in having a Panamanian Bank Account as an American other than a balance for essential transactions.
      Having said that – I would say that should be a blue print for ANY bank account worldwide.

  18. There are still country’s that have banking secrecy and have not yet signed treaty’s with the US.  Of course, this will probably not last much longer.  If you need banking secrecy I have heard that Nicaragua still offers banking secrecy and at this time, have not signed any type of banking transparency agreements with the US.  There are other nations as well that still offer privacy.  You can bet that the US is applying as much pressure on these holdouts as possible to get them to give up the information.  The good part is that the US is losing its position to bully these nations.  Our reserve currency only has 5 or 6 more years of life left in it.  Then, once its gone, all these nations that have signed these agreements will tell the US to go and blow themselves.  In fact, Panama doesn’t even really want US depositors anymore.  Its just not worth it to them.

    • 5 or 6 years? That is an eternity, if my work holds out I can stack a ton of Silver!
      Just remember, Al Gore’s hockey stick for global warming was actually for currency issuance? 

  19. trolls in the white House?
    I like that one  
    Mammoth. 
    Here’s my thought
    Those Russian nesting dolls, can’t remember the name
    Biggest one
    McCain Troll
    Inside is the Hillary troll
    Inside is the John Kerry troll
    Inside that the Michelle O troll
    Inside that is the
    KLUMMAC troll
    Inside that is the Barney Frank troll
     

  20. Mammoth
    Scientists announce plans to clone Wooley Mammoths from recovered DNA.
    you’ll have some new friends to play with. 
    Start them stacking early and not mammoth dung
    You will never compete with the dung stackers in DC, sh!t capitol movers of the known universe
     
    Global cooling evolves to Global Warming
    Global warming evolves to Climate Change
    Climate change evolves to Chimate Sh!(F)t
    Just a bunch of Globaloney warning
    Gore would have global warming denyers prosecuted for ‘hate speech’   How can you hate the climate?  
    I love the climate,  hot or cold—it’s all good!
    Cheers Mammoth

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