HERE WE GOOOOOOO....THE BIG WESTERN BANKS ARE NOTHING MORE THAN BANKRUPT SHELLS, FILLED WITH TOXIC, FESTERING, ROTTING US GOVERNMENT PAPER AND MORTGAGE BACKED SECURITY SEPTIC TANK WASTE.......... JPMORGAN HAS IMPOSED CAPITAL CONTROLS, WITH LIMITS ON WITHDRAWALS, AND A BAN ON INTERNATIONAL WIRE TRANSFERS. EXPECT MORE BANKS TO FOLLOW THEIR LEAD, BEGINNING WITH THE BIG MONEY CENTER BANKS. THE OUTWARD SIGNAL IS THAT THE BADLY INSOLVENT JPMORGUEN IS SUFFERING DEEP LIQUIDITY PROBLEMS. IT MEANS A BANK FAILURE COULD BE NEAR. THINK INTEREST RATE DERIVATIVE LOSSES. THE EXIT DOORS ARE SHUTTING VERY FAST TO MOVE MONEY IN SIZE GLOBALLY. CAPITAL CONTROLS ARE BEING INSTALLED ON A SCATTERED BASIS ACROSS THE WORLD. JPMorgan Chase has made the news with an ugly splash. The giant bank will limit cash withdrawals, prohibit all outgoing international bank wires, with more to come. Taking the USGovt debt cloud and official shutdown as smokescreen, even an apparent effort to front-run official government capital controls, JPMorguen has issued letters to all its business account holders notifying them as of November 17th, the bank will limit all cash transactions (including deposits, withdrawals, and ATM usage) to $50,000 per month. The official message was written by Donna Vieira, Vice President of Chase Business Banking. The note actually said, These changes will help us more effectively manage the risks involved with these types of transactions. Perhaps the funds have been rehypothecated, or stolen, left only as electronic garbage bits. Strange times when JPM engages in the risk management of ATM withdrawals, the most bland part of any bank business. It aint bland if the funds are gone from insider grubby hands, tied to risky derivatives as their hidden collateral. JPMorguen Chase will outright prohibit all outgoing international bank wires. The policy change is capital control, otherwise known as captured restricted money. The maneuver precedes Bail-in confiscations, possibly. The announcement has caused speculation that the bank is preparing for a looming financial crisis in the United States. The better interpretation is that JPMorguen is deader than dead, the recent runup in USTBond yields since May must have blown gigantic holes in their interest rate derivative book. Only one credible reason can justify such an extreme call such as capital control, the limit on funds movement. The big corrupt behemoth bank has been in INSOLVENCY to the extreme for five years. Actually this new signal is of ILLIQUIDITY, meaning they cannot afford to permit the movement of money, when the big bank is not able to offset the client movement. Conclude JPMorguen is approaching a failure and death event. One must wonder if the bank will act as supervisor of excess cash determined from monthly sweeps and dictate their investment in preferred stocks like their own bank stock. See the Zero Hedge article (CLICK HERE) and the InfoWars article (CLICK HERE). Colleague Roger Weigand confirmed the validity of the JPMorguen note to its clients. He received the same note on restrictions. Simon Black (aka Sovereign Man) advised that as starting on October 20th, the premier clients at HSBC USA will have to wait a minimum of five days before transferring funds between their own international accounts. The doors are closing, the clamps tightening, the channels narrowing. With all the horrendous news about the gigantic banks, only the reckless and naive keep any money in bank accounts in them. Convenience is not a good reason. A final note on JPMorguen that touches real lives. A Hat Trick Letter subscriber sent a note to inform about an unusual development in the Catskills region of New York state. The story changes from capital control to animal control. He is fond of the vacation retreat area. People in the resort region are real, the area beautiful, and winters enjoyable. He informed that a contractor friend worked to complete a Bunker (his words) for the ambitious Chief Information Officer of JPM, which is situated next to a 8000 sqft mansion he owns. The Bunker has two foot cement walls, all of which will be bermed over with dirt. When done, it will be difficult to even know it is there. The friend just earned $54,000 staining the exterior of the big house. The CIO lives in Princeton New Jersey. The workers joke that they will be able to get there long before the owner will.
Posted on: Mon, 28 Oct 2013 13:07:58 +0000
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