Chase Bank Limits Cash Withdrawals - true or false?

User9364 said:
Ammunition has been one of the best investments in the last 5-10 years. I could explain several reasons for that, but I'm no match for your sarcastic one-liners.
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Actually, a better investment would be to call up the info wars advertising rep, place a media buy, and run some ads for how to generate energy with nothing but a jar of peanut butter and your penis.

Churn baby churn.
 
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Chase has a great online interface, but their Business Checking isn't that great when I last looked. I recently switched my business and personal accounts to PNC. Their ATMs suck horribly for depositing cash, but their online interface is good, plus they have lower monthly fees and a 1.25% cash back credit card.
 
mpbiz said:
Actually, a better investment would be to call up the info wars advertising rep, place a media buy, and run some ads for how to generate energy with nothing but a jar of peanut butter and your penis.

Churn baby churn.
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Like I said... I simply can't compete with that. But you'll make a ton of cash talking about peanut butter and penises, I guess. Let us know.
 
User9364 said:
I haven't seen that in this thread, but I'll let you in on a little secret.

Ammunition has been one of the best investments in the last 5-10 years. I could explain several reasons for that, but I'm no match for your sarcastic one-liners.
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Ammunition has most definitely NOT been one of the best investments of the last 5-10 years.

Anyone who actually tries to grow their wealth knows this.

Note:
There are obviously outliers, but strictly speaking there are numerous amounts of investment vessels that have produce significantly more gains.
 
got the same letter, even though chase closed my account without giving me any reason about ~2 months ago.. anyone else get one of these?

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mattfca said:
Ammunition has most definitely NOT been one of the best investments of the last 5-10 years.
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What would you call a good investment? What % per year?


mattfca said:
Anyone who actually tries to grow their wealth knows this.

Note:
There are obviously outliers, but strictly speaking there are numerous amounts of investment vessels that have produce significantly more gains.
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Well, I like investing in me and my own business. I'm not suggesting people go out and invest in ammo, as much as I'm saying that ammo prices have been rising heavily, and it's an indicator of a rather unhealthy environment for several reasons.

I'm interested in your thoughts on what has been rising at a faster pace, adjusted for inflation.
 
And I quote:

The path to tyranny is almost always paved with good intentions.

And so, enter stage left, the innocuously named Consumer Financial Protection Bureau (CFPB).

These government agencies with the catchy, high-sounding names are always the most dangerous. After all, it was the 'Committee for Public Safety' that was responsible for wanton genocide during the post revolution Reign of Terror in France.

Recently, the CFPB 'encouraged' retail banks in the Land of the Free to 'help' their customers regarding international wire transfers. And by 'help', they mean prohibit.

Of course it's all for 'consumer protection'.. So under the guise of safety and security, several banks will curtail retail customers' abilities to send international wire transfers.

Chase, for example, will start to limit cash withdrawals and ban business customers from sending international wire transfers from November 17 onward.

And starting October 20th, HSBC USA's Premier clients will have to wait a minimum of five days before transferring funds to their OWN international accounts!

This is the very nature of capital controls-- restricting the free flow of capital across borders until it is trapped inside the country and forcibly denominated in a rapidly devaluing currency.

And this is exactly how it starts... making it more difficult to move money abroad.

We've been writing for years that this would happen. This isn't some tin-foil hat conspiracy. This is reality.

Throughout history, bankrupt governments have almost always resorted to these same desperate tactics.

As the US government is hours away from crossing the fiscal Rubicon, it only seems appropriate. They are bankrupt, and they are desperate.

I've written so many times before that the US government fails to collect enough tax revenue to pay for mandatory entitlements gross interest on the debt.

In other words, they could eliminate practically everything we think of as government (like the military) and still be in the hole by tens of billions of dollars.

This is not a mark of a wealthy nation. And nearly every other government throughout history that reached this position resorted to plunder, confiscation, and destruction of liberty.

Every bit of objective data points to the same conclusion. And with this new information, it appears that the consequences of inaction are coming soon.

One day, perhaps just months from now, all of this will seem obvious... to everyone. People will look back and think 'duh, how did I not see that coming?'

But rest assured, when the masses figure it out, every window of opportunity to protect yourself from the negative consequences will be slammed shut.

Your instincts are probably telling you that something is wrong. It's time to trust them. And to take action.

But it's critical to have the right information to do that.

My team and I have spent months putting together a low cost quickstart action kit-- a crash course of sorts to help you get started right away.

This kit contains the bare essentials of what you need to know, and do, right now... to protect your savings, safeguard your family, and preserve what you have worked to build for your entire life.

Right now, there is still time to take some of these basic steps. And I really want to encourage you to take advantage of this time while the window is still open. The tiniest effort and investment right now can make an enormous difference down the road as this trend continues to unfold.

Unless, of course, you trust your government. In which case I encourage you to do nothing and enjoy the ride.


Until tomorrow,
Signature
Simon Black
Senior Editor, SovereignMan.com
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Was thinking of posting the SovMan letter too... Just for the HSBC correlation. Clearly there is some coordinated capital flight control going on here.

Oh, and by the way, the #1 asset class investment these days isn't even close:

xSOW1NG.jpg

(2013 performance so far - Note, not even close to scale because bitcoin would be far taller still.)

"Oh sure," you say... "it can't possibly keep that up now that it's past it's growth spurt..."

But then you read this:

Bitcoin Climbs to Highest Price Since April, Led By CNY Movement - The Genesis Block

...And realized that Baidu is a pretty big website, and China has a pretty big population.
 
As much as I kind of like Simon Black's newsletter, I unsubbed just now because I don't want to have a fucking heart attack every time I open his emails. Yes, Chase is doing that and there will gradually become more and more capital control everywhere but he's just doing the fear sell by talking like shit is going to hit the fan right now, it's not. The senate "finally came to a deal" a couple of hours ago and agreed to raise the debt ceiling and end the pretense of being in grave political conflict. They will just go back to printing and borrowing so underneath all of the noise, things have basically continued unchanged from the trajectory they have been going for a while: slow economic and social decline with rising control and power grabbing by the govt. The actually dangerous shit is looking like 2-5+ years from now
 
I wrote them about it and got a prompt response saying basically that lots of accounts will still have the capability to send wires internationally and to visit a branch to figure out what type of account would work better. If I change accounts, it's probably going to be to a credit union though, definitely not paying more fees than what I'm paying now.
 
mikeshinobi said:
Thinking the end is near at every turn is silly, but I'd say that thinking nothing bad could ever happen is equally silly.
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Agreed, however finding reasons that the global economy is going to collapse in every single thing, when there are a million other more probable explanations, is mere confirmation bias in action.

lukep said:
Was thinking of posting the SovMan letter too... Just for the HSBC correlation. Clearly there is some coordinated capital flight control going on here.

Oh, and by the way, the #1 asset class investment these days isn't even close:

[redacted]
(2013 performance so far - Note, not even close to scale because bitcoin would be far taller still.)

"Oh sure," you say... "it can't possibly keep that up now that it's past it's growth spurt..."

But then you read this:

Bitcoin Climbs to Highest Price Since April, Led By CNY Movement - The Genesis Block

...And realized that Baidu is a pretty big website, and China has a pretty big population.
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I could find you a list of hundred's of investments that have outperformed Bitcoin in 2013, too. Your graph is entirely meaningless, and past performance does not in any way predict future results.

Long term value investing in BTC is little more than a gamble. If you think that the government's Silk Road shutdown was as bad as it'll get for the prospects of BTC, it's going to get a whole lot worse as its usage starts to become significant. (It's still insignificant, incidentally, even as the total value of BTC runs into the billions, when you compare it with the circulation of the dollar, of which there are $1.2 trillion).

Short term there is no doubt some money to be made, but any action taken against it is likely to be pretty swift, and kill the BTC market rapidly.
 
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