Grand Rapids, MI -- (ReleaseWire) -- 02/13/2014 -- Dennis Tubbergen is a financial advisor, author, radio show host and CEO of PLP Advisors, LLC. Whether people enjoy his weekly radio show or his blog at www.dennistubbergen.com, Tubbergen is dedicated to discussing the latest financial topics. Worried about the world banking system? On January 28, 2014 his blog was titled More Trouble Ahead for Banks?
"I zeroed in on a report this morning that Citigroup’s China branches have halted all cash transfers for three days and all conversions from the Chinese Juan for nine days," began Tubbergen. "Routine or conserving cash to avoid a banking problem?"
To get the link for the full story (and the other topics below) go to Tubbergen's website at www.dennistubbergen.com.
"HSBC reportedly did not allow some customers to withdraw cash unless they could prove why they need it even though the customers have cash on deposit with the bank," continued Tubbergen. "I have heard of other instances that this occurred. The bank has reportedly changed its policy to now allow withdrawals of any size in cash."
Do you keep track of foreign stocks? According to Tubbergen, Asian markets are following the lead of U.S. markets and declining significantly.
"The International Monetary Fund is warning the taper by the Fed may cause further instability in emerging markets," warns Tubbergen. "It will have to. The fundamental economic problem worldwide is the level of debt that exists. That is a condition the central banks around the world cannot address."
What is Tubbergen's bottom line on banks?
"As I’ve discussed in the past, the modern day bank bailout model is not a bailout, it’s a bail in," he explains. "Deposits in banks are simply confiscated based on a formula prescribed by policymakers. It happened last year in Cyprus, and Germany’s Bundesbank is now suggesting that countries about to go bankrupt draw off the private wealth of their citizens in order to remain solvent. Sounds like Germany is getting tired of forking over bailout money. This could be the beginning of the end of the Euro as we know it."
To get the whole scoop on these topics, go to http://www.dennistubbergen.com and select his January 28, 2014 entry.
Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.
About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of PLP Advisors, LLC and has an online blog that can be read at www.dennistubbergen.com.
The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.