|
Title: Bank run Post by: sayulita on February 06, 2014, 11:17:55 AM I apologize if this has been posted already. I just came across this info, and it might be of value to some.
It appears Chase Bank has rolled out a new policy which is restricting businesses from wire transferring large amounts of money out of the USA,possibly as an early attempt to thwart a coming run on the bank. http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/ Additionally, since it is "Bank run" related, I thought I would post this video from the past of Rothbard giving a speech years ago. (A very wise and entertaining man). http://www.youtube.com/watch?v=0m5cjhwh1vA Title: Re: Bank run Post by: murraypaul on February 06, 2014, 11:19:38 AM I apologize if this has been posted already. I just came across this info, and it might be of value to some. It appears Chase Bank has rolled out a new policy which is restricting businesses from wire transferring large amounts of money out of the USA,possibly as an early attempt to thwart a coming run on the bank. http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/ Additionally, since it is "Bank run" related, I thought I would post this video from the past of Rothbard giving a speech years ago. (A very wise and entertaining man). http://www.youtube.com/watch?v=0m5cjhwh1vA This is very old news, and was nothing to do with a 'run on the bank', but was an effort to force business to switch to higher-fee account types. Title: Re: Bank run Post by: sayulita on February 06, 2014, 11:24:44 AM I apologize if this has been posted already. I just came across this info, and it might be of value to some. It appears Chase Bank has rolled out a new policy which is restricting businesses from wire transferring large amounts of money out of the USA,possibly as an early attempt to thwart a coming run on the bank. http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/ Additionally, since it is "Bank run" related, I thought I would post this video from the past of Rothbard giving a speech years ago. (A very wise and entertaining man). http://www.youtube.com/watch?v=0m5cjhwh1vA This is very old news, and was nothing to do with a 'run on the bank', but was an effort to force business to switch to higher-fee account types. I would disagree that Nov of last year is very old news. Additionally, how do you know that this is not an effort to stem a bank run? When Chase will accept an unlimited amount of cash as a deposit, and then restrict that same client to amounts of $50,000 being withdrawn......I would say "read between the lines". They are trying to prevent a bank run. Title: Re: Bank run Post by: murraypaul on February 06, 2014, 11:27:43 AM I would disagree that Nov of last year is very old news. The story is from October. Almost four months ago. In cryptocurrency terms, that is a very long time.Quote Additionally, how do you know that this is not an effort to stem a bank run? When Chase will accept an unlimited amount of cash as a deposit, and then restrict that same client to amounts of $50,000 being withdrawn......I would say "read between the lines". They are trying to prevent a bank run. They will allow you to withdraw whatever you want, as long as you pay for a more premium account. I would say that is a way of screwing more fees out of their customers. Perhaps if you got your news from a slightly less biased site? Title: Re: Bank run Post by: sayulita on February 06, 2014, 11:32:02 AM I would disagree that Nov of last year is very old news. The story is from October. Almost four months ago. In cryptocurrency terms, that is a very long time.Quote Additionally, how do you know that this is not an effort to stem a bank run? When Chase will accept an unlimited amount of cash as a deposit, and then restrict that same client to amounts of $50,000 being withdrawn......I would say "read between the lines". They are trying to prevent a bank run. They will allow you to withdraw whatever you want, as long as you pay for a more premium account. I would say that is a way of screwing more fees out of their customers. Perhaps if you got your news from a slightly less biased site? I was just trying to share info I felt was valuable to those who had yet to hear it. If you know it all already, good for you. Perhaps others are not as well informed as yourself. Title: Re: Bank run Post by: cypherdoc on February 06, 2014, 11:50:00 AM Yes, the multitude of unreasonable restrictions Chase has introduced over the last 4 months has been quite concerning. Yep, I'd upgrade my account: to another bank.
Title: Re: Bank run Post by: jcoin200 on February 06, 2014, 01:28:47 PM I had already heard this, but I think a more notable thing to look into would be several banking professionals "committing suicide" (or possibly being killed) in the last week. Also I read about a Harvard economist who does not tryst Bank of America, so he withrdrew his entire $1million from his checking account.
Title: Re: Bank run Post by: Gangien1 on February 06, 2014, 01:37:36 PM Does it mean it's not possible to wire transfer large sum of money out of your chase account? I've only heard of 10,000+ reporting requirement.. this is news to me.. ???
Title: Re: Bank run Post by: murraypaul on February 06, 2014, 01:55:06 PM Do you have a BusinessSelect Checking or BusinessClassic Checking account?
Those are the account types affected by the November limit. Title: Re: Bank run Post by: nasamanBoy on February 06, 2014, 04:50:14 PM that and I think it's the same November limit.....
|