Armed Polite Society
Main Forums => Politics => Topic started by: HankB on October 16, 2013, 03:16:58 PM
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Chase bank is allegedly imposing additional restrictions on business accounts, starting Nov. 17
(Linked story from Drudge - but NOTE THE SOURCE!!!)
http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/
IF this is true, I think there will be a run on the bank before the mentioned date.
I wouldn't panic unless/until some other news organizations pick this up.
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Just saw this too.
More profit for bitcoiners. ;)
Ban that, Chase.
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They just told every business account to go somewhere else- how do you do international business without wires? We would be sunk if we could not wire funds to our overseas suppliers.
Hopefully it is a hoax.
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There are quite a few European banks that are in trouble.
http://www.reuters.com/article/2013/10/16/ecb-banks-test-idUSL6N0I618U20131016
TL/DR(BTL):
There are quite a few problems with several larger European banks that if it came out, would either cause a run or simple failure.
Money Quote:
A crucial question is how banks' holdings of sovereign bonds will be treated, following a push by the German Bundesbank to reflect more adequately the varying degrees of risk attached to bonds issued by different governments.
As banks do not have to hold capital to back their sovereign debt holdings under Basel III, the ECB is unlikely to address the issue in its asset quality review.
So if your bank has got most of your money tied up in Greek, Spanish or Italian bonds, you're all good. Because they are going to sweep it under the rug.
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Jesus christ it's *expletive deleted* infowars, the people that see three conspiracies in every bureaucrat's fart. If I want infowars bullshit, I'll go to their site...no need to post it on APS...
Do a google search...
http://www.forbes.com/sites/halahtouryalai/2013/10/17/no-jpm-isnt-banning-international-wire-transfers-no-limits-on-withdrawals-either/
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Jesus christ it's *expletive deleted* infowars, the people that see three conspiracies in every bureaucrat's fart. If I want infowars bullshit, I'll go to their site...no need to post it on APS...
Dude . . . relax. Take a deep breath. Go back to my OP and notice the disclaimers . . . [tinfoil]
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They just told every business account to go somewhere else- how do you do international business without wires? We would be sunk if we could not wire funds to our overseas suppliers.
Hopefully it is a hoax.
It is not a hoax. We have a chase biz account and got the letter. Doesn't affect how we do business.
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50/50
http://www.forbes.com/sites/halahtouryalai/2013/10/17/no-jpm-isnt-banning-international-wire-transfers-no-limits-on-withdrawals-either/
damn phone