Bank run

[sayulita]

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

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[murraypaul]

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.

[sayulita]

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.

[murraypaul]

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.

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?

[sayulita]

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.

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.

[cypherdoc]

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.

[jcoin200]

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.

[Gangien1]

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.. 

[murraypaul]

Do you have a BusinessSelect Checking or BusinessClassic Checking account?
Those are the account types affected by the November limit.

[nasamanBoy]

that and I think it's the same November limit.....