Sunday, October 20, 2013

Capital Control by Chase or the government, a la Cyprus?

From Alex Jones Infowars | October 17 2013


                                              


Small and corporate accounts of Chase are receiving letters that limit cash withdrawals and wire transfers beginning November 17, 2013.  Alex Jones feasr the start of capital control and the start of Cyprus type of govt gouging/raiding personal accounts

But a Forbes article 2 days ago says that Chase merely wants to manage risks better and to encourage upgrade to a much higher balance account. Forbes thinks Chase is managing its costs and profitability. The fears of depositors are unfounded they say.

However shall we relate this to Chase sale of its NYC tower for $725 million Chinese conglomerate Fosun for $725 million  Is Chase having liquidity problems?

--
Prof Jorge Saguinsin

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