JP Morgan Chase Denies “Capital Controls” on customer accounts

JPMBy George Miller News and rumors have been rife for days that JPM sent letters to many customers halting international wire transfers exceeding $50,000 after 11/17/13.  Some reports say business customers, one says personal accounts, too. At least some of this was confirmed by usually reliable CJ sources in the financial industry.  Also, Fox  news on 1/17 reported  that JPM says it is  just streamlining  and “de-risking” accounts.  These steps appear to be unprecedented and some fear it could presage stronger, wider future steps and would inhibit commerce. 161013letter1            

Above letter and card source: Zero Hedge

Controls verification: JimWillie CB (Roger Weigand cited), Zero Hedge and Stansberry Report.

also http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/

 

 

—–Original Message—– From: Jim Willie CB <redacted> To: George Miller <[email protected]> Sent: Thu, Oct 17, 2013 9:55 pm Subject: Re: URGENT!!!!!! JP Morgan Chase implements capital controls limiting businesses’ outgoing international wire transfers & all cash withdrawals/deposits to maximum of $50,000 per month!

Roger Weigand confirmed is as true

he has an account with JPM and they informed him of precisely this

but he said it does not apply to all accounts

many accts are restricted
/ jim
On Thu, Oct 17, 2013 at 10:53 PM, <George Miller> wrote:

Jim:

True?

Regards, George Miller

~~~~~~~~~~~~~~~~~~~~~~~~~~~~
—–Original Message—– From: Bob To: Undisclosed Recipients:; Sent: Thu, Oct 17, 2013 9:48 pm Subject: URGENT!!!!!! JP Morgan Chase implements capital controls limiting businesses’ outgoing international wire transfers & all cash withdrawals/deposits to maximum of $50,000 per month!

___________________________

George Miller is a “retired” operations management consultant and a Citizen Journalist, active in civic affairs, living in Oxnard.

7 Responses to JP Morgan Chase Denies “Capital Controls” on customer accounts

  1. david October 24, 2013 at 8:55 pm

    The noose tightens

    Reply
  2. Janice Shelby October 19, 2013 at 7:59 pm

    More on the Robber Barons
    http://www.huffingtonpost.com/2013/10/19/jpmorgan-settlement_n_4128994.html

    Reply
  3. admin October 18, 2013 at 7:48 pm

    —– Original Message —–
    From:
    To: ‘DON HANK’
    Sent: Thursday, October 17, 2013 3:37 PM
    Subject: RE: Report: Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

    No.

    It has to do with two things:

    Provisions within Dodd-Frank, which pertain to foreign wire transactions; and
    JPMorgan’s potential losses with regards to their charge of trading fraud and market manipulation

    A potential third one as well…..they are a Federal Reserve Member bank, which means they have been required to purchase US Treasuries, cheaply from the Fed, only to re-sell them back to the Fed at a higher interest rate. This has been guaranteed and risk-free profit for them. However, if bond prices begin to move against them (price down, yield up) their potential losses for holding such instruments are enormous. Therefore, they want to position themselves to be short US Treasuries….they need capital with which to do that. Restricting withdrawals helps them more accurately estimate how much cash they would ever have to have on hand.

    Jamie Dimon let the cat out of the bag yesterday.

    Q. How worried are you that one morning the bond market has moved against the United States?

    A. It’s virtually assured, the question is when and how.

    http://www.bloomberg.com/video/dimon-says-bond-turn-against-u-s-virtually-assured-N3hktVnuRqeeN2f~kUQSfA.html

    You can be ASSURED JPMorgan will have all their resources reserved in order to be on the right side of that trade.

    From: DON HANK [mailto:[email protected]]
    Sent: Thursday, October 17, 2013 1:37 PM
    To: [email protected]
    Subject: Report: Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

    Our thanks to Philipp for this.
    I would only point out that Infowars, while usually on the money in such issues as this, always wants to be first to report. That doesn’t give them much time to double check the veracity of their reports.
    I generally tend to belive the gist of these reports, but of course, always have some reservations.
    If anyone has personal experience with Chase and can further confirm, clarify or refute this, kindly let us know.
    If this is true, it may be linked to the uncertainty of yesterday’s vote, but more likely to an attempt on the part of these bankers to influence the Republicans to insanely raise the debt limit. Since the government now has insanely raised the debt limit, the bankers are at least temporarily appeased. (Disclaimer: I am not saying the government is insane, just saying they constantly do insane things).
    Don
    —– Original Message —–
    From:
    To: Don Hank
    Sent: Thursday, October 17, 2013 8:14 AM
    Subject: Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

    http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/

    Reply
  4. admin October 18, 2013 at 3:05 pm

    Hi George,

    Yes I received one, only pertains to our business account, but was rather shocked at the time. Don’t deal with overseas so we are fine, a little shocking.

    Take care,
    Marsha

    Reply
  5. admin October 18, 2013 at 7:12 am

    off the grid for us guys
    parallel system for BRICS & G20
    we must stand clear
    something big is coming to reject the USD
    very soon
    / jim

    Reply
  6. admin October 18, 2013 at 7:09 am

    Received from someone who prefers to remain anonymous:

    In late April I moved to Florida from Brazil. It took my two weeks to get my cash out of the country, and I owe a lot of people favors. Getting money out of the U.S. and into Brazil had become a pin as well. Additionally, the U.S. has started taxing Americans for money they have in foreign banks. So, I would have to pay U.S. income tax on my income form the U.S., plus U.S. tax ion my income from Brazil, plus U.S. tax on my assets in my Brazilian bank account. It was getting too crazy for me, and the only way to avoid it was to denounce my U.S. citizenship. I am not about to do that, because I would then have trouble becoming a citizen of the new Republic of Texas or Republic of Alaska (whichever happens first)!

    Oh, and under ObamaCare, my health insurance premium almost triples to $1,100 per month and my annual deductible goes from zero to $11,000. I am now joining the ranks of the uninsured.

    Reply

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