Chase Bank's recent covert imposition on its small-business depositors is a warning that "the end is near." Not the end for the banks and banksters, rather for their depositors who they will rob. The 1999 repeal of the Glass-Steagall Act that had separated depository and investment banking now allows banks to commingle their deposits and investments. And because of the Dodd-Frank Act, banks can no longer be bailed out by the government. So the next crash will result in Cyprus-style “bail-ins,” meaning (legal!) confiscation of depositor funds in order to recapitalize the failed (criminal) banks. The FDIC doesn't have enough money to reimburse more than 0.25% of the victims, which may include you if you don’t take precautionary action soon. To learn more about this impending outrage, go here:

http://impactglassman.blogspot.mx/2013/09/not-only-are-your-savings-and-checing.html

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Home › Headlines › Chase Bank confirms to Infowars that all business account holders were being subjected to cash & transfer restrictions

Chase Bank confirms to Infowars that all business account holders were being subjected to cash & transfer restrictions

Posted on October 16, 2013 by Stacy Herbert

Stacy Summary: While the US is negotiating ‘free trade’ deals, more and more domestic companies are not so free to trade. No doubt, the propaganda on tv will tell you that these small companies in America are FREE to compete with the likes of Walmart, etc. and that it’s their own failings which make them unable to outdo the clever, competitive Walmarts of the world. What we’re witnessing, however, is increasingly open system of systemic financial discrimination against all but the oligarchs and monopolists. And, finally, the whole Western world is being Cyprus’d, first slowly and then it will be as suddenly as in Cyprus.

Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers

UPDATE: Chase Bank confirmed to Infowars that all business account holders were being subjected to these new regulations. They indicated that customers would have to pay a fee on every dollar withdrawn over the limit. 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. 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.

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Blogger's Note: The excellent video below provides definite proof of what will happen to depositors' money when (not if!) the big banks fail. Please take heed!!!

Money Is Not Safe In The Big Banks

http://youtu.be/jPsOopzp7e4

Thom Hartman: "We have become, in the United States, and increasingly all over the world, a society with only two classes: Those who own, and those who owe." "The owe-ers - the indebted - find themselves trapped on a lifelong treadmill paying interest and fees to the Takers. The owe-ers are also mostly the workers, the people who make things (from manufactured goods to hamburgers), and so are rightly called the 'Makers'.''

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AlterNet / By Thom Hartmann

There's a Violent World War Going On, with Millions of Casualties -- Oligarchs vs. Everyone Else

We have become, in the United States, and increasingly all over the world, a society with only two classes: Those who own, and those who owe.

January 13, 2013 |  History is littered with the corpses of those who thought they could conquer the world, or at least the “known” or “important” world, through force of arms.  Many come immediately to mind: Alexander the Great; Caesar; Hitler; the Celts, Ottomans, and Catholics; various European, Asian, and American empires from the 17th Century Dutch to the 18th Century French, to the 19th Century British and the 20th Century Soviets and Americans.  Others, like the Aztecs, are less well known to westerners, Europeans, and Asians, but no less ambitious. 

All used some variation on war, the force of military power, to accomplish their goal. All won, over the short-term, and then collapsed over the long term (making the relatively safe assumption that the American Empire is in the process of collapse right now). 
So, who’s next?  

While the rising economies of the world, like the BRIC (Brazil, Russia, India, China) nations, all have the potential, particularly the Chinese, all also are pretty focused on regionalism.  But there is one group that has declared war on us - all of us, all over the world - and already won some significant victories.  And that’s the creditor class, what economist Henry George called the “rentiers,” and we generally today refer to as “the billionaires.” 

The top story on the Sunday, January 6 2013 online edition of the Financial Times, was headlined, “Banks win more flexible Basel rules” by Brooke Masters.  The lead paragraph noted that “International banks received a new year fillip” or gift, when the new regulations out of the Basel bank regulators meeting “announced that the first ever global liquidity standards would be less onerous than expected and not be fully enforced until 2019, four years later than expected.”  Perhaps the single most relevant sentence in the article started: “The results are largely good news for bank profits…” 

We have become, in the United States, and increasingly all over the world, a society with only two classes: Those who own, and those who owe.    

The owners (or “Takers”) own vast wealth, and loan it out at interest to everybody from students to governments.  They’re continually receiving that interest back in ways that are either tax-free or taxed at very low levels.  (Here in the US we call it “capital gains,” “Interest,” “dividends,” and “carried interest.”  While a working person will pay as much as 39% in federal income taxes, the federal income tax to the Mitt Romneys, Paris Hiltons, and Lloyd Blankfeins of the world is now capped at 20%.  As Leona Helmsley famously said, “Only little people pay taxes.”) 

The owe-ers - the indebted - find themselves trapped on a lifelong treadmill paying interest and fees to the Takers.  The owe-ers are also mostly the workers, the people who make things (from manufactured goods to hamburgers), and so are rightly called the “Makers.” 

For a brief period of American history, the rapaciousness and greed of the Takers  was kept in check by the Makers - mostly through the actions of their unions and elected officials like FDR, Truman, Eisenhower, Kennedy, Johnson, Nixon, Ford, and Carter.  Glass-Steagal prevented banksters from gambling with your savings account or pension.  The Sherman Anti-Trust Act and its heirs prevented the big fish from swallowing all the medium-sized and smaller fish, so cities and malls were filled with locally-owned businesses.  Social and economic mobility were higher in the United States than in most other countries of the world. 

But with the election of Ronald Reagan, the Takers - whose favorite way of taking is through putting the Makers into debt - won a huge victory.  They killed or weakened democratic institutions, like unions and politicians not dependent on them.  They moved the Middle Class from prosperity into, first, credit card debt, then into second-mortgage debt, and finally into student loan debt.  And then, in the final Coup de grâce, they made the formerly democratic governments of Western Europe and the United States indebted to them. 

They knew from the beginning it was war.  But a softer and more silent form of war than the world was used to.  Not since the ascendency of the British East India Company in the 1700s had the world seen an economic, rather than sovereign, force so dominate the world.  

And now they’re in the final stages of their war.  Having taken most all the resources of the West’s Middle Classes and thrown them and their children into debt bondage, they’ve moved onto taking over entire nations. 

This is what Republicans mean when they talk about “making government smaller” here in the United States, or “the austerity agenda” in Europe, Canada, and Australia.  It’s all the same thing - transfer even more wealth and political power from those in debt (be they individuals, cities, states, or nations) to those who made the loans.  From the middle-class Makers to the billionaire Takers.  

And God forbid a politician should stand up to the Takers.  From Republicans refusing to raise taxes on billionaires, to international banking institutions leading the charge, via their captive governments, on “renegade” states like Bolivia.  

Longer work weeks in France.  Indexing the Inheritance Tax to inflation in the United States, but not the minimum wage.  Cutting Greeks off their national health-care system after a year of unemployment.  Slashing government support to schools, police, and health-care in Canada.  Banks committing crimes and getting slap-on-the-wrist fines.  Fossil Fuel corporations, the world’s most profitable, not only getting taxpayer subsidies but never, ever paying for the cancers, pollution, and global warming they cause.  The list goes on and on. 

It’s war.  Rob, plunder, and pillage.  Take what little is left from those with a little, and give it all to those who have a lot.  Turn the Makers into slaves, while the Takers get an Inheritance Tax cut so their great-grandchildren can live the lives of the landed gentry. 

When Ronald Reagan came into office, America was one of the most socially- and economically- mobile nations in the developed world.  Today it is among the least.  

Democracy is being replaced by plutocracy.  Modern oligarchs are richer than the kings of old.  And, still not content, they’re amping up the war with a coming July 4th attempt to amend the US Constitution so the wealthy need never again fear tax increases.  It’s being led by the Goldwater Institute with its “Compact For America.” 

Look out.  We’re moving from trench warfare to aerial bombardment.  And when they’re done, Western Democracies will look far more like Italy in the 1930s…

Thom Hartmann is an author and nationally syndicated daily talk show host. His newest book is The Thom Hartmann Reader.

BE GLAD YOU DON'T LIVE IN BENTON HARBOR, MICHIGAN. THAT SAID, THERE IS NOTHING TO STOP THIS FROM HAPPENING ANY PLACE IN THE UNITED STATES. AND YOU CAN'T VOTE THE KLEPTOCRATS' HENCHMEN OUT OF OFFICE BECAUSE THEY RIG THE ELECTIONS.

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Governor fires Mayor and City Council and appoints crony to sell off town assets at fire-sale prices to his corporate donors.

miuncut1

NEW PRESSURE TO CUT WAGES AND BENEFITS, CURB UNIONS, UNDO FDR's NEW DEAL ...AND OPEN THE DOOR TO MORE BANK FRAUD

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January 06, 2011
DemocracyNow!

Crackdown on Organized Labor: States Call for Wage & Benefits Cuts, Urge Laws to Curb Union Influence


In states across the country, elected officials and right-wing pundits are calling not just for cuts to wages and benefits in the name of austerity, but even proposing laws to undermine labor unions’ influence, and in fact, their very existence. We host a roundtable discussion with New York Times labor reporter Steven Greenhouse; Michael Zweig of the Center for Study of Working Class Life; and Art Levine of the Washington Monthly.

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January 7, 2011

theREALnewsnetwork

Battle Over Constitution Attempt to Undo New Deal

Reading of Constitution in Congress opening shot of Republican/Tea Party attempt to roll back history



Bio

Thomas Ferguson is Professor of Political Science at the University of Massachusetts, Boston and a Senior Fellow of the Roosevelt Institute. He received his Ph.D. from Princeton University and taught formerly at the Massachusetts Institute of Technology and the University of Texas, Austin. He is the author or coauthor of many articles and several books, including Golden Rule (University of Chicago Press, 1995) and Right Turn (Hill & Wang, 1986).

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January 8, 2011

theREALnewsnetwork

New International Accounting Rules Opens Door to Fraud

Al Rosen: Over a hundred 'dirty tricks' possible under new IFRS accounting regulations



Bio

Al Rosen is a forensic accountant, principal at Rosen & Associates Ltd. He has given expert accounting testimony in Canada's highest courts, a certified fraud examiner, and a specialist in investigative and forensic accounting. For 15 years, he served as a technical adviser to three Auditors' General of Canada. Dr. Rosen has taught accounting at universities across North America. He graduated from the University of British Columbia in 1957 and later earned his M.B.A. degree from the University of Washington. In 1966, he obtained his Ph.D. from the University of Washington. He founded Rosen & Associates Ltd. in 1990. Al is the co-author of Swindlers: Cons and Cheats and How To Protect Your Investments From Them, Published Oct 20 2010.