JPMorgan Chase goes Cyprus way

[masterluc]

http://www.peaktopeak.org/modules/groups/homepagefiles/cms/944821/File/Governing%20Documents/Financial%20Documents/September%202013%20Investment%20Reports.pdf

Was it easier them to just shoot in their head rather publishing such bullshit?

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[allthingsluxury]

I've seen too much this year to be surprised.
Yet another example that money belongs to the banks instead of people.

The market is big, we'll probably see mass exodus from Chase Bank to other banks.

Not likely. There is no way Chase would do this unless they know other banks will be following suite. They know this would mean a massive loss in business. This is not a good sign.

[CurbsideProphet]

Eh, I honestly don't see the big deal with this one.  It's a SAVINGS account, not a checking account.  If it were a business checking account, that would be huge but it isn't.  And the CFO of the school should be fired for parking that much cash earning 0.1%-0.15%.  The only way that makes sense is if they use Chase's business services and get some sort of offset for that large of a deposit. 

[pletharoe]

Sorry, got to agree with CurbsideProphet.  I'm also surprised that they're making their accounts so publicly available.

[masterluc]

AFAIK it was due to Dodd–Frank Wall Street Reform and Consumer Protection Act.

Very cunning plan to paralyze money flow. Then issue hyper inflation. And then... no debts!

[pletharoe]

AFAIK it was due to Dodd–Frank Wall Street Reform and Consumer Protection Act.

Very cunning plan to paralyze money flow. Then issue hyper inflation. And then... no debts!

Please can you elaborate on this?

[muasktak10]

I bought a car on a 20k loan, with 2013 money. Now in 2014 it takes a 40k loan to buy that same car. Sucks to be that guy buying the car at 40k, I only have to gather up half as much money to meet my loan demands, but that money is easier to come by.

[notme]

I bought a car on a 20k loan, with 2013 money. Now in 2014 it takes a 40k loan to buy that same car. Sucks to be that guy buying the car at 40k, I only have to gather up half as much money to meet my loan demands, but that money is easier to come by.

What car doubled in price in just a year?

[nobbynobbynoob]

I bought a car on a 20k loan, with 2013 money. Now in 2014 it takes a 40k loan to buy that same car. Sucks to be that guy buying the car at 40k, I only have to gather up half as much money to meet my loan demands, but that money is easier to come by.

What car doubled in price in just a year?

He's making the assumption the dollar might lose half its value in a year.

[notme]

I bought a car on a 20k loan, with 2013 money. Now in 2014 it takes a 40k loan to buy that same car. Sucks to be that guy buying the car at 40k, I only have to gather up half as much money to meet my loan demands, but that money is easier to come by.

What car doubled in price in just a year?

He's making the assumption the dollar might lose half its value in a year.

That's ridiculous.  Debt = dollar demand, and all "printing" (at least in the US system) is really issuance of more debt.  Good luck with your hyperinflation dreams.

[nobbynobbynoob]

He's making the assumption the dollar might lose half its value in a year.

That's ridiculous.  Debt = dollar demand, and all "printing" (at least in the US system) is really issuance of more debt.  Good luck with your hyperinflation dreams.

Yes indeed. That debt has to be "bought" or rolled over: someone somewhere has to finance this ponzi. Peter Schiff was just on RT talking about the very same.

I don't know if there will actually be a hyperinflation of the USD, but recent trends make that a more likely outcome (doesn't mean it will happen though; predicting a high but not unsustainable Argentina-like inflation might be more realistic).