“We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order.”
– David Rockefeller
– Confirmed: Chase bank drops the hammer on capital controls; no money allowed to transfer out of USA starting Nov. 17th (Natural News, Oct 16, 2013):
I admit that when I saw today’s breaking news on InfoWars.com about Chase Bank limiting cash withdrawals and banning international wire transfers, I was skeptical. Many readers didn’t believe it, either. So just to check it out, I called my own accounting team to ask if we had received a similar letter from Chase, announcing that no international wire transfers would be allowed after Nov. 17th.
Sure enough, we were sent the same letter! I’ve posted a JPG image of the letter below so you can read it for yourself.
Or Click here to see the hi-res scan of this letter. This is the letter that we received directly from Chase. This is not secondhand information.
The letter clearly states that beginning November 17:
• All international wire transfers will be disallowed.
• All cash activity, including cash withdrawals and deposits, will be halted at “$50,000 per statement cycle.” How are businesses who deal with a lot of cash (such as restaurants) supposed to function under such restrictions?
Chase Bank representatives told Natural News “everything is fine”
We called and spoke with Chase Bank to ask why these capital controls were being implemented on November 17th.
Their response was that these changes were being implemented “to better serve our customers.” They did not explain how blocking all international wire transfers would “better serve” their customers, however.
Chase Bank specifically denied any knowledge of problems with cash on hand, or government debt or any such issue. They basically downplayed the entire issue and had no answers for why capital controls were suddenly being put into place.
Dropping the hammer on capital controls
This is the beginning of the capital controls we’ve been warning about for years. Throughout history, when governments are on the brink of financial default, they begin limiting capital controls in exactly the way we are seeing here.
Following that, governments typically seize government pension funds, meaning the outright theft of pensions for cops, government workers, etc., is probably just around the corner.
Finally, the last act of desperation by governments facing financial default is to seize private funds from banks, Cyprus-style. The precedent for this has already been set in Cyprus, and when that happened, I was among many who openly predicted it would spread to the United States.
This is happening, folks! The capital controls begin on November 17th. The bank runs may follow soon thereafter. Chase Bank is now admitting that you cannot use your own money that you’ve deposited there.
This is clearly stemming from a government policy that is requiring banks to prevent cash from leaving the United States. Such policies are only put into place when a huge financial default event is expected.
More updates to follow. Stay tuned to Natural News for intelligent analysis of why this is happening. We are already receiving word that this may have something to do with the “Dodd-Frank Wall Street Reform and Consumer Protection Act” and we are looking into it further.
Here’s the letter we received:
I agree with your take on the situation, history backs you up. We are close to a world economic collapse and crisis that will make 2007-08 look like a Sunday picnic.
There is far more currency in circulation than there is wealth to support it.
I am so glad I am not twenty, and starting out now. I see dark and grim days ahead for millions.
Thanks for covering another subject the US media buried. I will pass this article to everyone I know.
Best,
Strangely enough, there’s part of the Chase letter that I’ve been proposing for at least the last seven years: curtailing outbound International Wire Transfers. My reason for this is spelled out in a little 1997 title, “PAYMENTS, CLEARANCE AND SETTLEMENT / A Guide to the Systems, Risks, and Issues” [GAO document ID # B-270598, but good luck finding a copy], where is explained in language even some US Congressmen might understand that banking rules to one side, there is no US Federal Guarantee on ANY international wire. Send your money across the border, it disappears, your out of pocket without recourse. Stopping at this point would makes me want to cheer, because it would imply some level of prudence on the bank’s part…
(take a breath)
… but the rest of the message, if only applied to Chase, only makes economic sense if the firm itself is now risk averse – the longer term effects of WAMU along with this week’s “London Whale” admission of Guilt come to mind – because it sees receivership in its near future.
In my opinion, this is a courtesy warning to move your accounts out of Chase.