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Thread: UPDATED: Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

  1. #1
    Supporter and Investor!
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    All is Lost..............or is it?

  2. #2
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    Chase needs to issue a statement clarifying exactly why they are imposing these capital controls.
    It is clear that these regulations are being enacted for three different but equally plausible reasons, all of which contribute to the ultimate goal of sacrificing the global economy on the altar of derivative monster zombie banks.
    1) Capital controls to prevent money leaving the country as the US dollar continues to devalue. Note that Chase will allow international wire transfers coming in, but not going out of the accounts. Note that they are only concerned about “risks” when the money is being moved out of the account.
    2) Forcing businesses to abandon cash and switching everything over to digital currency that can be more easily tracked, traced and controlled.
    3) Part of the preparatory phase for Cyprus-style bail-ins where the government announces a new “tax” to gouge out a percentage of people’s savings.
    All is Lost..............or is it?

  3. #3
    Supporter and Investor! Wolverine's Avatar
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    Increased U.S. federal government scrutiny.
    Last edited by Wolverine; 10-21-2013 at 10:14 PM.
    "it just may be a lunatic you're looking for" -- Billy Joel

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  4. #4
    Supporter and Investor! shinerguy's Avatar
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    Well I know someone who is a branch manager for Chase and I sent him that article, this is his reply.

    That is a fairly biased and inaccurate story.

    We have a very basic business account we have rolled out to HELP small business owners who have zero need to send international wire transfers. We piloted the Total Business checking account in Texas and just recently began rolling it out to our other regions across the country. The Total Business checking account has the lowest daily balance we have ever had ($1500) to avoid the monthly service fees. This allows the Mom and Pop businesses to avoid fees on their business accounts when they have no need to send international wires.

    We still have our traditional business accounts that absolutely can send international wires. It's silly to think that JPMorgan Chase, one of the largest financial institutions in the world, would stop sending money internationally.

    The company does many things that drive me crazy, but this is not one of them. Chase should be commended for the basic new account they have rolled out to help the small business owners, but instead conspiracy theorists like Paul Joseph Watson are making it out to be something it is not.

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