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As multiple crises in the Mid-East mounts & Washington’s influence wanes, some Arab states have begun covertly cooperating with Israel.
ByRyan Jones
One of the very few positive outcomes of the regional crises engulfing the Middle East is that a number of Arab states are beginning to realize that Israel is not the true enemy.
“For the first time in Israel’s existence, there is an understanding in the Arab world, that Israel is not the enemy of the Arabs. On many issues, we are united,” Prime Minister Benjamin Netanyahu said at the opening of the Knesset’s winter session earlier this week.
Netanyahu noted that the hijacking of pro-democracy revolutions in Egypt, Syria and elsewhere had turned many of the Arab states against the same Islamist regimes and groups that most threaten Israel.
“Many nations in the area have a strong desire to eliminate the influence of Iran, the Muslim Brotherhood and Al-Qaida,” the prime minister said. “This is an important development, even historic.”
An unnamed government source later revealed to Israel’s Ynet news portal that Netanyahu’s remarks were not just flowery rhetoric, but a veiled announcement that Israel and several Arab states, some of which have no official diplomatic ties with the Jewish state, are now actively cooperating on various fronts.
With America increasingly seen as an unreliable ally, Arab states are looking for a strong anchor nation with which they can coordinate their own battles against Islamic extremism and Iranian hegemony.
Many have found that ally in Israel, even if the bulk of the unprecedented cooperation must happen in secret.
JP Morgan Chase to limit cash withdrawals, prohibit all outgoing international bank wires, bank officials say
Photo: EPA
In an apparent effort to front-run official government capital controls, JP Morgan Chase has issued letters to all its business account holders notifying them that as of November, 17 the bank will limit all cash transactions (including deposits, withdrawals, and ATM usage) to $50,000 per month, and will prohibit all outgoing international bank wires. JP Morgan Chase later disclaimed, however, that the news that the bank is exerting new capital controls on certain bank accounts are an overreaction to a "streamlining" and "derisking" process.
Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers causing speculation that the bank is preparing for a looming financial crisis in the United States by imposing capital controls.Bank officials confirmed Wednesday that the new capital limits apply to all business account holders, the bank will stop processing any outgoing international bank wire, and that any monthly cash transactions in excess of the new $50,000 limit will be subject to penalties and fees.
JP Morgan has been broken down by an enormous fine as it works to clear up the mess created by the London Whale trading scandal.
The bank will pay $100 million to the US Commodity Futures Trading Commission, conceding "reckless" behavior led to the trading debacle that generated about $6 billion in losses.
Last month the agreed to pay about $920 million in penalties to US and UK regulators to settle charges over the London Whale trades.
In later reports, JP Morgan Chase said news reports circulating on the Internet that the bank is exerting new capital controls on certain bank accounts are an overreaction to a "streamlining" and "derisking" process.
The bank has sent letters to certain customers saying they will be unable to send and receive domestic and international wire transfers, and "cash activity" will be limited to $50,000 per statement cycle, including cash deposits, night drops, and ATM and cash withdrawals.
"These changes will help us more efficiently manage the risks involved with these types of transactions," one letter reads.
The fear is small and medium-sized businesses could be hurt by the restrictions. But the bank says these were typically mass accounts opened on the Internet, with no bank representative managing them, where domestic or international wire transfers could be sent without bank oversight.
The bank says it is "derisking" these accounts by streamlining the number of customer accounts from, say, six accounts with no bank contact or representative to three accounts with a bank rep managing them. Also the bank said some of the accounts customers had signed up for did not have wire transfer services that customers had wanted, or had limited withdrawal services, but that the bank is instead transferring these customers into new accounts that do provide these services.
Chase said it is not exerting new capital controls on customer accounts.
Update: Christopher Greene has just put out the following video report on this unfolding story. The original story, including a copy of the letter from Chase Bank, is down below this video.
Chase Bank has made the move to limit cash withdrawals as shared in this story fromInfowars . Is this but the latest sign of an economy and society ready to totally collapse? This latest signal is but the most recent one in a series that spell out a much bigger picture. A video report about the rapidly crumbling US economy is also below.
Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers from November 17 onwards, prompting speculation that the bank is preparing for a looming financial crisis in the United States.
Numerous business customers with Chase BusinessSelect Checking and Chase BusinessClassic accounts have received letters over the past week informing them that cash activity (both deposits and withdrawals) will be limited to a $50,000 total per statement cycle from November 17 onwards.
UPDATE: Alex Jones: The fact that these letters were being sent out to Chase customers was confirmed at the time that we published, but in the last 24 hours we have confirmed that even large businesses doing international transactions have also received the same letters.
I personally visited Chase Bank and inquired about setting up an account and asked if I could wire money out of the country or withdraw the amounts of cash listed in their letter. I was told no, and that I would have to “qualify” with them for a special type of international bank account and would have to deposit huge amounts of money and pay fees to be able to access those services.
What this constitutes is a war on cash and a war on small business and individuals. Two years ago we saw a giant backlash against Bank of America when they announced customers would be charged for using their own money via their debit card. We have crossed the rubicon where now the currency has been so devalued that you will have to pay fees to have your money in a bank or use a debit card.
In saying that international wire transfers are too much of a risk, Chase Bank might as well be bankrupt because it is telling you there is no money to withdraw.
This is where the mega banks have wanted to take us all along – a total cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom. This is clearly a major step towards capital controls as we saw with the Cyprus bail-in.
We are now receiving reports from business partners who we know well that they are being told by their banks that similar regulations to those adopted by Chase are coming within the next few months.
Chase would not be implementing a business killing strategy like this unless all other major banks were also planning to follow suit. What we see is mega banks leading the way to set the precedent that all the others will follow.
Chase needs to issue a statement clarifying exactly why they are imposing these capital controls.
It is clear that these regulations are being enacted for three different but equally plausible reasons, all of which contribute to the ultimate goal of sacrificing the global economy on the altar of derivative monster zombie banks.
1) Capital controls to prevent money leaving the country as the US dollar continues to devalue. Note that Chase will allow international wire transfers coming in, but not going out of the accounts. Note that they are only concerned about “risks” when the money is being moved out of the account.
2) Forcing businesses to abandon cash and switching everything over to digital currency that can be more easily tracked, traced and controlled.
3) Part of the preparatory phase for Cyprus-style bail-ins where the government announces a new “tax” to gouge out a percentage of people’s savings.
Customers need to rally and speak out against this and immediately move their money to smaller and local banks that will promise to give them good service and not rake them over the coals. We need diversity and competition within the banking system, not giant zombie banks endangering the world economy with derivatives and cheating their customers.
It should also be noted that JPMorgan Chase runs most of the welfare system and EBT cards and really constitutes the top of the pyramid in the corporate-banking-governmental structure.
Finally, we’ve seen the IRS attempting to bar Americans from leaving the country simply if the IRS has opened an investigation on them. This isn’t shades of tyranny, this is hardcore authoritarianism and everyone should be concerned. If you were planning on getting your money out of the country, now is the time. If you haven’t withdrawn your cash from the bank, you should have done it yesterday.
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Chase Bank has moved to limit cash withdrawals while banning business customers from sending international wire transfers from November 17 onwards, prompting speculation that the bank is preparing for a looming financial crisis in the United States by imposing capital controls.
Numerous business customers with Chase BusinessSelect Checking and Chase BusinessClassic accounts have received letters over the past week informing them that cash activity (both deposits and withdrawals) will be limited to a $50,000 total per statement cycle from November 17 onwards.
The letter reads;
Dear Business Customer,
Starting November 17, 2013:
- You will no longer be able to send international wire transfers. You will still be able to send domestic wires and receive both domestic and international wires. We’ll cancel any international wire transfers, including reccurring ones, you scheduled to be sent after this date.
- Your cash activity limit for these accounts(s) will be $50,000 per statement cycle, per account. Cash activity is the combined total of cash deposits made at branches, night drops and ATMs and cash withdrawals made at branches (including purchases of money orders) and ATMs.
These changes will help us more effectively manage the risks involved with these types of transactions.
Another letter (PDF) received by Peak to Peak Charter School, an Elementary School in Colorado, states that the option to send both international and domestic wire transfers has been withdrawn from Chase business savings account holders.
Shortly after we posted this story, other Chase business customers confirmed they had also received similar or identical letters.
“I’m a Chase customer with both of the type accounts mentioned and got the letter posted,” wrote one.
“I have been a loyal customer of Chase for 11 years and I received the letter for my business and when I called about this I was told basically piss off and find another bank!” added another.
Chase Bank later confirmed in a tweet, “Certain biz accounts will no longer allow intl wire & large cash transactions,but customers can opt for Chase accounts that do,” (in other words accounts that are far more expensive).
Natural News’ Mike Adams also confirmed his company received the letter. “This is happening, folks! The capital controls begin on November 17th. The bank runs may follow soon thereafter. Chase Bank is now admitting that you cannot use your own money that you’ve deposited there,” writes Adams.
Meanwhile, financial expert Gerald Celente said the news was a sign that Americans should prepare for a bank holiday.
Chase is obviously very keen to make it hard for their customers to have any kind of control over their savings and is trying to prevent them from sending dollars abroad, prompting concerns that Cyprus-style account gouging could occur in America.
The move to limit deposits and withdrawals while banning international wire transfers altogether is a bizarre policy and will cripple many small and medium-sized businesses with Chase accounts. Buying stock from abroad in any kind of quantity will now become impossible for many companies, while paying employees will also be a headache. Grocery stores or restaurants that turnover more than $50k a month will be unable to use their account.
Why has Chase announced such a ludicrous and restrictive policy change? Speculation is rife that the bank is preparing for some kind of economic crisis by “locking down” its customers’ money
Others fear the move to restrict international wire transfers is part of a plan to protect against a near-future collapse of the US dollar.
Whatever the truth behind the policy change, Chase really needs to publicly explain its reasoning in order to quell the speculation.
The bank’s reputation was already under scrutiny after an incident earlier this year where Chase Bank customers across the country attempted to withdraw cash from ATMs only to see that their account balance had been reduced to zero. The problem, which Chase attributed to a technical glitch, lasted for hours before it was fixed, prompting panic from some customers.
Earlier this month it was also reported that two of the biggest banks in America were stuffing their ATMs with 20-30 per cent more cash than usual in order to head off a potential bank run if the US defaults on its debt.
The image below shows two more examples of Chase business customers receiving the same letter.
UPDATE:Chase Bank confirmed to Infowars that all business account holders were being subjected to these new regulations. Given that even a relatively small grocery store or restaurant is likely to turnover more than $50k a month in cash payments, this appears to be part of a wider move to shut down businesses who mainly deal in cash. Chase told us customers would have to upgrade to much more expensive accounts to avoid the capital controls, meaning larger corporations will not be affected. The bottom line is that banks think your money is their money and will do everything in their power to prevent you from withdrawing it in large quantities.
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Paul Joseph Watson is the editor and writer for Infowars.com and Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a host for Infowars Nightly News.
This article was posted: Thursday, October 17, 2013 at 5:48 am
It seems that the rhetoric against Sen. Ted Cruz (R-Texas) has gone from hateful to downright graphic and violent. The Capitol Police are investigating online threats made by an individual against the Texas senator, a Cruz spokesperson said Friday.
(Photo by Alex Wong/Getty Images)
The threatening posts were made on Twitter by someone who identifies himself as Troy Gilmore Jr. and uses the Twitter handle @ArmyVet54. He has also listed Cruz’s home address in Houston several times and argued he needs to be “taught a street wise lesson.”
“Take down Ted Cruz, at his home,” the person tweeted, listing Cruz’s home address in Houston.
“Lets Find Ted Cruz, Texas address and show up his House, drag him out and B***h slap his A** in front of the country,” another tweet reads.
“Ted Cruz, we want you a** go the f*** back in Canada, else you and ur family will pay. U got a f***ing big mouth,” the same person wrote.
In yet another threatening post, the user advocates hanging Cruz by his “small balls if he tries another ‘ShutdownTactic.’”
“We’re aware of it and have alerted the proper authorities. I can’t comment further on security matters,” Cruz spokesman Sean Rushton told The Hill.
Capitol Police spokesman Shennell Antrobus told the Hill the department is “looking into that matter” and that they take all threats against members of Congress seriously.
A would-be bank robber in Fullerton, Calif., met his match Tuesday when an infuriated bystander decided to call his bluff and take him down.
Herb Pearce (screen grab)
Herb Pearce, who works as a termite exterminator, told CBS Los Angeles that he was at a Chase Bank branch when the “armed” suspect stormed in, marched up to the counter, and announced the stick up.
“(He said), ‘This is a robbery! This is a stick-up! I want all your money right now!’” said Pearce. “I’m looking at this guy, thinking, ‘Is this guy for real?’”
The suspect, 29-year-old Jacob Williams, turned to Pearce and pointed the “gun,” which was concealed in a bag over the suspect’s hand, directly at the exterminator.
“He had his hand in the plastic bag,” he said.
However, rather that cowering and complying with Williams’ demands, Pearce decided to fight back. He grabbed Williams’ arm and “clocked” him.
“Pow! I clocked him. He went back a little bit, he came at me again, I hit him again,” he said.
Thankfully, Pearce’s decision to call Williams’ bluff didn’t end in tragedy. As it turns out, the suspect was indeed unarmed, according to police.
Williams was arrested the moment police arrived on the scene.
Obviously, law enforcement officials don’t recommend bystanders “clock” supposed bank thieves – but the police who responded to the situation can’t help but be proud of Pearce.
“I have a feeling he would have completed a robbery, so in that effect, Mr. Pearce is a hero in that he stopped a crime,” said Sgt. Jeff Stuart of the Fullerton Police Department.
Pearce broke and fractured his hand in the process of taking down Williams and, unfortunately, he can’t afford insurance. He has no idea how he’ll cover the medical costs.
CBS2’s Stacey Butler reports that Pearce asked the bank to help pay his the medical bills. However, her report adds, he said the bank “refused because their insurance provider wouldn’t cover it.”
A bank spokesperson said Chase is “looking into it,” the CBS report notes.
Nevertheless, and despite the cost, Pearce said he’d do it again.
“I’ll be darned if some junkie is gonna’ come off the street and take my (money). I put too many hours to get that…paycheck. So I’m not gonna’ let him take my money,” said Pearce.
“For the first time in Israel’s existence, there is an understanding in the Arab world, that Israel is not the enemy of the Arabs. On many issues, we are united,” Prime Minister Benjamin Netanyahu said at the opening of the Knesset’s winter session earlier this week.
