Is Chase bank the first banking domino to fall in preparation to a larger impending financial failure of our economy? Are we heading down the road of Cyprus of a complete banking failure?
Red Flags are being alerted all around the financial world as a recent letter was just sent out to Chase business account owners that said beginning on November 17:
• You will no longer be able to send international wire transfers
• Your cash activity limit for these account(s) will be $ 50,000 per statement cycle, per account.
——–
The letter reads;
Dear Business Customer,
Starting November 17, 2013:
– You will no longer be able to send international wire transfers. You will still be able to send domestic wires and receive both domestic and international wires. We’ll cancel any international wire transfers, including reccurring ones, you scheduled to be sent after this date.– Your cash activity limit for these accounts(s) will be $50,000 per statement cycle, per account. Cash activity is the combined total of cash deposits made at branches, night drops and ATMs and cash withdrawals made at branches (including purchases of money orders) and ATMs.
These changes will help us more effectively manage the risks involved with these types of transactions.
Fox Business: Chase denies…..
I’m gonna call my condoms from now on: Deriskers.
If you read the article, it says that these types of accounts are opened on the internet without oversight by a bank manager.
Well, that makes for a damned good candidate for money laundering, which is what they appear to be trying to address.
But any flack they get serves them right for opening bank accounts that way in the first place.
Anything illegal in opening account that way?
“Money laundering” is excuse. This type of action will slowly drift toward everyone (check very similar happenings in Italy, Greece, Cyprus,… EU in general). Aim is to limit movement of the capital out of the country in question, than “one time” (or more) tax it for money hungry BigGovernment. Followed by limiting (in perfect controlling Progressive sense) of how can you use your own money, particularly aimed at ANY cash transactions or movement. Fascist BigGovernment taking control of all aspects of life.
Exactly. This is *capital control* I’ve said it before to watch this place shut up tighter than 300,000,000 North Koreas on one three inch floppy and it has begun — all the banks will do this.
In light of *transactions* that is not much for small buisness or family members trying to get out or make a new start elsewhere. 25k in, 25k out, done.
Now, some of us have known this for a long time — Take, for example, the dysfuncional family member finally sick of “if you don’t like it here…” The *threat* is even backed up with offers to fund his exodus from his conformal parents’ homeland. Now, that person always knew he would one day need his old cars, vacuume spark gaps, hydrogen thyratrons, and a guitar made with real wood. Now, thanks to the reinvigorated enforcement of the Lacy Act, he can not even leave with his guitar. And, potential to succede or otherwise, his parents can not transfere funds to help him *settle in*.
I’ve always felt this way about the borders and border agents but Ron Paul states it for the record —
http://youtube.com/watch?v=2IH9JME_hL0
At least, in North Korea I can grow, smoke, and exchange my own cannabis without regulation or oversight to protect the children. It is looking more and more like sanctuary. Also, I’m a pretty good swimmer.
I can’t remember who made the quote but it was something like “No stronger indictment of a nation but to abandon it” — Criminals hate being indicted.
Bingo!
I’m no fan of the banks due to their recent f-u’s but I don’t see anything nefarious here. To try and make something out of this will tend to make all criticisms of the banking industry sound shrill and eventually become part of the background noise. I say let’s stay on top of these goof-balls but not jump on silly fux snooz talking points.
“…I don’t see anything nefarious here…” – check recent history in Italy, Greece, Cyprus,… This is not so much initiated by the banks themselves but by “behind curtains” push of the BigGovernment who are interested in limiting capability of the FREE capital to escape their planned attack. Attack? – in several places in EU Government, short of cash planned or executed “tax on existing deposits”. Seizing completely legal funds. That is nefarious.
Nothing is seized, outside your brain that is.
Just for kicks. Go to your bank and try to take $20K in 100’s out of your account. Even if you have the balance, I bet they make you wait at least a week. Maybe even refuse our request totally. “No, only in check”.
I know of person refused $5K by B of A.
G.W. Bush knew he only had a few months to live because of a bad ticker to which the replacement had already been pwnd by Anonymous.
He gathered his friends together and said “I’m dying. I want to take this three million with me, when I go. I’m giving each of you one million to place in the coffin individually so as not to arouse suspicion.”
After the funeral, Bohner said, “I feel really bad because I only returned $250,000.” Reid said “I feel bad to because I only withheld $750,000.” Obama said “My conscience is clear — I wrote a check for the entire million.”
Q: What’s more disingenuous than a politician who says he didn’t lie?
A: One that says he didn’t MEAN to lie.
Mr. Impotent, Lindsey Graham promising “I will cum in your mouth”??
It’s against to law to carry anything over $10k in cash.
However, if a government police type were to catch you with more than few thousand, you’ll have a hard time keeping their hands off of that.
Please cite relevant criminal code.
Oh it’s legal, but you are asking for serious scrutiny if you do. And why is that Kangaroo Man?
Maybe I want to buy a new car, and use in cash to get a better deal….should that be a problem?
It’s no ones business but my own.
I don’t think it’s legal to carry anything above 10K in or out of the US without a form from the treasury department.
Report of International Transportation of Currency and Monetary Instruments (FinCEN 105)
When you cross the border you are required to declare if you are carrying more than $10k in cash. But it is legal to carry around as much cash as you feel safe with. As far as I can determine, there is no US law that says otherwise.
If law enforcement finds you with a large amount of cash in a fishy situation, they can seize it and go in front of a court for civil forfeiture of the funds. But the court has to determine there is just cause for the forfeiture. Unfortunately, with the way these funds go to the local governments after seizure, there is an incentive for overzealous behavior by law enforcement.
That is the more “accepted” version, just don’t get caught.
RICO. The cops can take your money without evidence of any wrongdoing. All they have to say is that they suspected you of something.
10k is the suggested limited, but it has happened on way less. See the horror stories about I-10 in south Louisiana.
Sounds like more of the horse apple crap where if you get pulled over a by a cop and they find out you have $8,000 or more in cash they can legally rob you as well as no cash purchases over $10,000.
You thought that money was yours? Think again.
It’s enough to make me wonder about that crazy vision the Biblical guy had that said in the end times you either had the mark of the beast or you weren’t allowed to do business as in buy and sell, get paid, or pay others. There was no freaking way to enforce something like that at the time but at the present there certainly is.
Yeah, maybe that’s what it means.
Barter. Buy seeds.
“I’ve got $300 in gold, how many chickens can you spare??”
“I’ve got a $300 chicken.”
That damned chicken better pluck and cook itself for $300.
Let not your heart be troubled; That chicken not only likes to be cooked and eaten, but it’s also completely capable of emphatically telling you so.
{Thanks to Monsanto. Also, it is possessed of the devil — “Brakk brakk brakk… pluck me pluck me Pluck me!, as it spontaneously self-services itself by the nearest pot it could discern that wasn’t SmartGrid enabled.}
that monsanto mutant chicken says “pluck you! pluck you!”
http://i.imgur.com/o0bXenj.jpg
^^ That’s Douglas Adams’ tribute to Al Gore.
Intelligent people know that corporations are persons under the law.
Stupid people think that corporations are people under the law.
REALLY stupid people think that money is people too.
Kinda funny actually. Except youse guys vote. THAT is not funny at all. Keep voting, then wonder where your benefits/help have gone……
Silly Hoomans.
So, ipso fatso, you think that money is people?
“”Soylent Green is moneyyyy…..
Any my foreskin is loose change.
Ha, ha. I crack myself up.
No Mc—read more closely….. I said “really stupid” people think………/////// Oh!==I get it. Gee, I guess I really set myself up for that snap back.
Very clever.
Or I could respond: “I know I am, but what are you?” I did like PeeWee’s Playhouse. Lot’s of good memes there. Then he got all pervy, thinking his Schwarzenegger was a people too. Sad when that happens.
You really don’t know how stupid you look every time you make a voting comment when everyone knows you are going to the polls next time to help re-hire R/Ds. Sheeple.
Do you have a link to any authority who recommends that when the third party candidate is running at 5% popularity that it makes the good common sense god gave a goat to vote for that candidate?
Wishful non-think.
Like some other Losers on this forum.
Grow up, deal with reality. It will only hurt the first few times.
VNPWHNRSOTFTTYAAY
Oooooh “authority” it’s what you love isn’t it. Does your wife wear the strap-on?
Fucking slave.
I don’t know what you two twerps are tweaking on. Few people (money?) are as anti-authoritarian as bobbo.
……. why waste my time.
Bobbo, who supports authoritarians bloomberg and obama, declares himself anti-authoritarian because he trumpets ‘Vote all incumbents out of office’ when there is no election, then switches to supporting the authoritarians at election time.
Establishment candidate {A} promises to boil your nuts.
Establishment candidate {B} promises to broil your nuts.
Non-endorsed candidate {C} promises not to meddle with your nuts, but he’s only polling at %5 — thanks to guys who only pick and vote winners according to ESPN-like espoused statistics.
Many of those {A/B} voters also believe people should be taxed, starved, chem-trailed, and slaughtered to save the planet from the life-cycle gas, CO2.
Actually candidate C plans to boil your nuts as well. He just lies about it to try and get you to vote for him.
Funny, and poetically “true” but since no TPC with 5% of the vote before election day has ever won in the history of mankind, this is pure conjecture.
More deeply…. since most TPC are wacko birds, zealots, dogmatists, or fantacists one way or another to large degree, they have no intention of roasting your nuts but wind up doing it anyway thru an excess of inflexibility.
Same as it always is.
http://youtube.com/watch?v=iFDe5kUUyT0
The Tiny Dot —
http://youtube.com/watch?v=H6b70TUbdfs#t=41
whatever the truth is, the disconnect between ‘reality’ and the market not only continues, but intensifies. the debt ceiling was raised, and the shutdown ended. crisis averted, everything back to ‘normal’. i think that’s the simple mentality. anything to avoid negative thoughts. when in a depression, there is a very real psychological element at play. and notice all the ridiculous shit that is news in the media. it’s like a bad sci-fi film on acid. i am out and about on the street, the bus, a store, a bar, a park. i see and hear alot of things on a regular basis, and my honest opinion is that people are spooked. i rode up to kirkland the other day just to fart around, get a change in scenery, and take in the sights. i found the only dive in town, both mlb games were on, so it was just my luck. the bartender was friendly, and the patrons were an interesting mix of business yuppies, tough guys, alcoholic regulars, etc. no problems, good conversations, and a nice day. on the way back the driver asked me what i was up to, so i told him the scores, which seemed to perk his ears. he mentioned their driving schedules were being tightened, and another driver was suing for not being allowed to finish the mandatory thirty minute lunch break. i guess their shifts are also becoming more irregular. at least that’s what he said. then he went on about sandy koufax and harmon killibrew, and watching the yankees in minnesota when he was a kid. i’m telling you, most bus drivers love to talk, and are far more intelligent than you would imagine. as for chase bank, who knows. and even if we did pull a default like cyprus, the outcome is unpredictable, no matter what congress or analysts have to say.
Yep, bidness as usual for the low info moran.
Funny how that works. At least for now.
the outcome is unpredictable, no matter what congress or analysts have to say.
Except for those pulling the strings.
Cool article . Also , Thank you Pres Obama for resolving the terrorist attack from the House.
Sadly, $24Billion dollars squandered and countless families and children (many of them white ) suffered through this.
Sounds like someone is trying to start a run on the bank, and is selling short the stock. And you are helping them make money.
This feels the same to me as shouting “Fire!” in a crowded theater…
Currency is just faith in an idea, and right now, that faith is sorely pressed. I would prefer people not push it, just like I would prefer people not chant “Jump! Jump!” to the person on the ledge…
A debt-based financial system run by people unwilling to choose painful answers means it will most likely go until it blows up. Personally, I would like to have a little more time to get myself financially settled (assets) before the United States Dollar goes kaboom.
Stockpile hard assets. Silver, gold, food, seeds, books on living without government assistance, guns and ammo.
Form a community of like minded people who will band together to keep the Wal-Mart assholes from stealing everything when society collapses.
Watch Zombies films and learn from their mistakes. 🙂
Many banks started fining you for withdrawing your own money a year ago. Mine did. The laws allowing this went in under the radar. I had a devil of a time finding anything out about it when they did it to me. This is nothing more than deregulation by pro-banking legislators. No, money laundering is just a pretense.
“Some rob you with a pistol, some with a fountain pen.”
The banks are cleaning out their low fee general services accounts. You need to shop around these days and pay higher fees (or have higher cash balances) for things like international wire transfers and non-term savings accounts.
Could this have anything to do with the financial reform bill where they decided to crack down on the ‘excess profits’ of banks. Debit card fees were restricted, resulting in loss of free accounts.
Those big zombie banks have always been the biggest facilitator of ‘money laundering’. The intent of this policy seems to be to get a jump on an exodus of tangible assets as some in the theatre, while being careful not to disturb those slavering at the inane show {which don’t seem capable of being disturbed, anyways}, are alarmed themselves and try to quietly leave via the emergency exits after noticing the black and acrid smoke clogging their sight and nostrils only to find that they have been chained shut to keep the kid’s friends from sneaking in reasonably-priced concessions. Chase, in this butchered analogy, just happens to be trying to corner the market on padlocks. It makes more cents when viewed in light of this —
http://online.wsj.com/news/articles/SB10001424053111904787404576530520471223268
Probably not. Compared with banking fees in other countries it’s pretty comparable. For instance, a $12 fee for a $50,000 foreign wire transfer is pretty low. Especially on something that risky.
No reason for the last ten years to keep cash in a bank account. The return is not much better than a safety deposit box and the risk is quite a bit higher. Of course, when Banks start this sort of behavior, I would not trust them for a safety deposit box either.
nunyac
Seriously. No one is going to touch hacking Dick Cheney’s heart device story?
Big deal. Spain is restricting access to your own solar panels, taxing you unless you go completely off-grid.