A “run” appears to be in progress at JP Morgan / CHASE and the bank is now LIMITING withdrawals! Bank Customers met by BLOCKADE of police!
Under the auspices of “protecting clients from criminal activity,” JPMorgan Chase has decided to impose capital controls!!!
As WSJ reports, following the bank’s ATM modification to enable $100-bills to be dispensed with no limit, some customers started pulling out tens of thousands of dollars at a time. This apparent bank run has prompted Jamie Dimon to cap ATM withdrawals at $1,000 per card daily for non-customers.
Most large U.S. banks, including Chase, Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. have been rolling out new ATMs, sometimes known as eATMs, which perform more services akin to tellers. That includes allowing customers to withdraw different dollar denominations than the usual $20, typically ranging from $1 to $100.
The efforts run counter to recent calls to phase out large bills such as the $100 bill or the €500 note ($569) to discourage corruption while putting up hurdles for tax evaders, terrorists, drug dealers and human traffickers.
The Wall Street Journal reported in February that the European Central Bank was considering eliminating its highest paper currency denomination, the €500 note. Former U.S. Treasury Secretary Lawrence H. Summers also has called for an agreement by monetary authorities to stop issuing notes worth more than $50 or $100.
This move appears to have backfired and created a ‘run’ on Chase…
A funny thing happened as J.P. Morgan Chase & Co. modified its ATMs to dispense hundred-dollar bills with no limit: Some customers started pulling out tens of thousands of dollars at a time.
While it was changing to newer ATM technology, J.P. Morgan found that some customers of banks in countries such as Russia and Ukraine had used Chase ATMs to withdraw tens of thousands of dollars in a single day, people familiar with the situation said. Chase had instances of people withdrawing $20,000 in one transaction, they added.
The young businessman below was arrested for trying to CLOSE his account!Cops said “Once he was told he could not close his account, he was obligated to leave the bank; he refused to leave unless he got his money, so he was arrested.”
Remember Greece? People knew the banks there were in trouble and began taking their money out; which shut down the banks within two weeks. Clearly, something similar is now happening in the USA. Hey America, do YOU have YOUR money . . . . . or will you be “like a lamb to the slaughter” by leaving what you’ve worked so hard for, sitting in a bank —– that so many people are trying to get cash out of, they’ve already begun limiting withdrawals?
Those same folks who leave their money in failing banks and who will be “shocked” when reality hits! They are the very same ones who have NO CASH at home to live-on if the banks have to close for a couple weeks, have NO FOOD stored-up for any kind of emergency for two weeks, and have NO GOLD and NO SILVER to protect themselves if everything goes to hell.
. . . . And they’ll be the same morons who expect our (bankrupt) government to “help them” when everything goes to hell, because they CHOSE to be blissfully unaware and stupid.
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