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Author: admin | Category: Loan Calculator Canada | Date: 27.06.2014

Our mission is to bring awareness to any issue which challenges the security, sovereignty or domestic tranquility of our beloved nation, The United States of America. Numerous business customers with Chase BusinessSelect Checking and Chase BusinessClassic accounts have received letters over the past week informing them that cash activity (both deposits and withdrawals) will be limited to a $50,000 total per statement cycle from November 17 onwards.
These changes will help us more effectively manage the risks involved with these types of transactions. Another letter (PDF) received by Peak to Peak Charter School, a college in Colorado, states that the option to send both international and domestic wire transfers has been withdrawn from Chase business savings account holders.
Shortly after we posted this story, other Chase business customers confirmed they had also received similar or identical letters.
Chase is obviously very keen to make it hard for their customers to have any kind of control over their savings and is trying to prevent them from sending dollars abroad, prompting concerns that Cyprus-style account gouging could occur in America. The move to limit deposits and withdrawals while banning international wire transfers altogether is a bizarre policy and will cripple many small and medium-sized businesses with Chase accounts. Why has Chase announced such a ludicrous and restrictive policy change and is it related to the potential for a US debt default?

Speculation is rife that the bank is preparing for some kind of economic crisis by “locking down” its customers’ money. Others fear the move to restrict international wire transfers is part of a plan to protect against a near-future collapse of the US dollar.
Whatever the truth behind the policy change, Chase really needs to publicly explain its reasoning in order to quell the speculation. The bank’s reputation was already under scrutiny after an incident earlier this year where Chase Bank customers across the country attempted to withdraw cash from ATMs only to see that their account balance had been reduced to zero. Earlier this month it was also reported that two of the biggest banks in America were stuffing their ATMs with 20-30 per cent more cash than usual in order to head off a potential bank run if the US defaults on its debt. The image below shows another example of a Chase business customer receiving the same letter. Get daily news alerts from the Tea Party with the latest breaking news impacting the country. We’ll cancel any international wire transfers, including reccurring ones, you scheduled to be sent after this date.

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. Buying stock from abroad in any kind of quantity will now become impossible for many companies, while paying employees will also be a headache.
Although most still expect a deal to be struck to prevent a US debt default, its impact would “shake financial markets to a degree not seen since the Great Depression,” according to experts. The problem, which Chase attributed to a technical glitch, lasted for hours before it was fixed, prompting panic from some customers. Neither the service provider nor the domain owner maintain any relationship with the advertisers. In case of trademark issues please contact the domain owner directly (contact information can be found in whois).

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