Wednesday, October 16, 2013

This looks serious

Chase Bank tells it's customers with business checking accounts that they can't send international wire transfers after Nov. 7th, and can't do any cash more than 50k a month.  Savings accounts won't be permitted to do wire transfers either domestically or internationally.

Does that sound like the preparation for serious financial instability?  Like Cyprus, where the government simply stole 47% of everyone's savings?  Or Poland, where their government just now seized private pensions funds?

We had all better follow these developments closely.  Your money may not be safe from seizure by the government.


  1. This is beginning of the end for small business.

    1. Or savings accounts, or 401ks, or IRA's, or any asset that the government can seize or tax. Simply watch what similar governments are doing in Europe.