JPMorgan Imposes New Capital Controls on Cash Deposits!

In October, we warned SD readers that JPMorgan had initiated capital controls, limiting cash withdrawals, and banning outgoing international bank wires.
The Morgue is at it again, reportedly at the request of the gov’t, as the bank has just informed customers of new capital controls on cash deposits, banning counter credit deposits, forcing customers to provide a photo ID before depositing their own cash into an account, and only allowing customers to deposit cash into accounts in which their name is listed.

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  1. Perhaps they are signaling business owners to skim the cash receipts.  I expect most all small businesses are doing it to some extent already.  But, with the new ID hassle with cash deposits why would a small business owner deposit any cash now?

    • Perhaps to pay bills? Or does everyone in the US still pay for stock replenishments in cash?

    • Ugly Dog  I’ve worked with hundreds of business owners who are cash businesses.  Some offer discounts for cash. I use cash many times when buying small to medium purchases.  And silver on occasion. Whenever I make a purchase that involved sales taxes I ask the business owner if they want to transact business without involving the governor of that state.
      This action by JPM is government-mandated.  The government is desperate for tax revenues. Anything that stops that process is going to get serious scrutiny. I am all for business owners skimming cash from the till if they can.  The tax burden on virtually any business is over 50% when all taxes are calculated. 
      JPM is also preventing outgoing wire transfers.  This is designed to keep FIAT in the US banking system. All major banks are under order to retain capital to meet Fed and BASEL III requirements. Coupled with FACTA and FBAR regulations, it is very hard for a person or company to get a foreign bank account, thus keeping their funds ring fenced in the US where it is easier to steal the funds when the time comes
      The government knows that businesses are the last bastion of freedom in this country and must control  these enterprises.  Containing busineses through the banking system is one means to accomplish this ring fencing.  JPM is a convenient toolof the government to this end. After paying over $20 billion in fines but not seeing a single person serving jail time, the orders from on high that JPM must comply with these orders is now seen in their policies. Restrictions on cash deposits is just part of this means to corral and herd people and businesses in to the electronic, debit and credit card systems. The fees on these systems ranges from 1-3% JPM Cards are very profitable for this bank. Cash does not allow them to extra their fees for all transactions.
      Speaking of jail time, EndTheFed2012 just noted the first banker to kill himself.  A 33 year old FX trader in Hong Kong jumped from the 33rd floor of the JPM offices at the Chatham House in Hong Kong and died at about 2:31 PM HK time Fed 18  This report by EndTheFed2012. citing a ZH article this AM, makes him the first winner of the DEAD BANKER POOL   This is the ‘FIRST’ banker in this little contest I started Feb 16. 
      Now we need guesses for the MOST and the HIGHEST RANKED Banker of the Dead Banker Pool. The contest ends May 18. 

  2. Only those folks who’ve carefully been thinking through my ‘banknote scheme architecture’ narrative will understand this line of speculative argument, but …

    In my otherwise seemingly twisted sense of suspicious paranoia, I draw anticipation of conversion to a 100% digital transaction medium from this announcement. If all banknote stamps outside ‘the system’ are to become heavily devalued or even completely negated (effectively deflating the money supply by force), that will leave a huge ‘erasure’ of loan principal on which interest accrues. The subsequently reduced necessity to create new interest servicing funds (lowering the inflation rate), will thus allow the banking scheme to get by a while longer on far less new borrowing demand in the face of growing global Debt Saturation.

    Indeed, all of the ‘capital’ re-arrangements we’ve been watching over the past year or so, point toward the intent to cause a massive deflation (to turn back the Paper Clock). The ‘trick’ has been to ‘make the hammer fall’ only on the Serfs least likely to ‘join the Brown Shirt brigades’. Those ‘SNAP’ (membership) cards, will be utilized as ‘tools of obligation’ to ‘man the ranks’ … mark my words.

  3. Its a move against Money laundering. You can still move money via electronic transfer. This is 2014 is it not?
    As far as I can see, this is all about visibility of transactions, by who, to whom.
    This is forcing people to use Crypto Currency for anonymous payments. I don’t know about the US and the rest of the world, but here in the UK, if I want to pay for silver/gold, I need to provide an ID, even if I am paying in cash. Apparently this is to prevent money laundering also.
    Yes its an affront to liberty. Yes this goes against everything we fight against.
    What makes me laugh about the UK metals market, is the traceability once bought. Its gone! I can quite easily sell my gold/silver for Fiat, keep the Fiat outside of the system and the state would still think I own it! Its just stupid.
    20 years down the line, they come for my gold, and I will say…its gone….they will ask where and I will say, I gave it away. wtf!!! moral of this story, gold and silver provides a level of anonymity, admittedly after sale but its better than banking.

    • You pay 20%VAT? you bonokers. DA

    • Me? Pay 20% VAT? I try not too.
      But thems the rules.
      Most of my silver was bought under my company, so I reclaimed it.
      Its one of the reasons that Silver isn’t such a big thing in Europe and the UK, Sales tax.
      Saying that mind? don’t most states issue sales tax on items? does this include purchases of silver?
      Gold you would be pleased to know Alexi is tax free across Europe, lets hope that the Ukraine will get some of that European Action aye? ;)

    • WFS…Yeah, most U.S. States do not charge a tax on the sale of gold or silver.  And sales by coin stores, etc. are not reported to the gov’t in all States.  When you sell back to a coin store there is no tax collected by the store in any State, but reporting rules for capital gains taxes vary by the product you are selling.  For example buy-back sales of AGE’s and ASE’s are not reportable in any quantity.  However, most everything else is.

    • Russia has a 18% VAT on gold. Stacking does not exist there. VAT works as capital control.

    • @WaitingForSilver
      Look, drop this BS with “money laundering”. They are the biggest money launders. If you doubt, watch this:
      This is all about CONTROL of the slaves. Listen to the “gate keepers” lying through their teeth.

    • XC Skater … “Russia has a 18% VAT on gold.”

      Holy Crap! And, we’re propagandized to look toward Russia as more ‘free’ than America? There’s the blatant lie disclosed for all with eyes to see.

      “Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.” –5th Plank

      Can I say … ‘lipstick on a pig’?

  4. Also Alexi its a “Sales Tax”, If I sell it on, through my company, I just add 20% on the price. And the beat goes on….its a perpetual cycle of adding Sales tax on the markup.
    Only three things are certain sugar, Deaths, taxes and trouble…troubled man.
    Still could be worse, could be living in North Korea with those psychopathic miscreants of life.

    • Alexi to poore to by Gold in Ukraine, Alexi paint tungsten and sell to Amerikano tourists. I sell 20% below spotte, Amerikano think Alexi dumb, a locall youkall. They laffe as walk away. Alexi juste smile. Da

    • Wow Alexi,
      Is it a Russian thing to always speak about yourself in the third person? Or is it just some bull shiter, pretending to be Russian?
      I got loads of Russian friends, none of them speak like you. You are one “Crazy guy!”.
      You watch a lot of Steve Martin?

    • I amm steeve mariitin. Da

      I have Russian bionic leg, it not working wery well I keep valking in a circule. Da

  5. The Jewish whorehouse is back at it.  Time for you to  murder a few more employees  to further this charade.

  6. It is a move against Bitcoin.  Now I know many of you folks are anti – every currency but silver and gold, but when they want to have names attached to money , they want to eliminate / prevent  anonymous transfers that bitcoin will bring in the future.
    The enemy of my enemy is a friend.

  7. Reports of another JPM dead banker.
    this time a 30 something forex trader out if Hong Kong. Another jumper 30 floors, but the Police couldn’t persuade him not to jump … Or were they there to help? Curious.

  8. Yup, f$%£%K this sh*t, real news is happening in Hong Kong, another Jumper, reports coming out that he was a “Junior”, that is three now from the house of Morgan, London, New York, and Hong Kong.
    Something is mighty odd.
    Which major financial city hasn’t been covered yet?…there has to be another one…Singapore?

  9. This isn’t sealing the exits, it’s sealing the entries! Yeah, probably some money laundering thing.
    And the banker who jumped in Hong Kong was definitely not physically pushed:

    I’m still not buying into the murder-theories. I would really like to see banker suicide statistics from ordinary times, I could imagine worldwide 2 banker suicides per week (including retired bankers, etc etc) is the norm. Seems more likely to me they are afraid of prosecution, prison and losing everything they have. They see it coming and take a desperate action.

    • “And the banker who jumped in Hong Kong was definitely not physically pushed:”
      You don’t have to be physically pushed to be forced to jump.

    • Let me guess : security cams all over except the roof. Typical.

    • What about the guy who allegedly shot himself with a nail gun. Seven to the torso and one to the head. Really now?! So he shot himself in the torso and was not satisfied so, while he was in complete agony and then turn it on himself again and in the head? Okay this is a suicide. 
      Jim Garrison The bigger the lie the more people will believe….

    • @SilverAlert: So how did they do it then, in broad daylight, with everybody watching? Do you see the two policeman talking to the guy, on the photo – do you think they are hidden agents of JP Morgan and telling the guy they will kill his family if he doesn’t jump or what?
      I’m sure you can come up with some far-stretched explanation, but the suicide thing gets just more and more unlike. This has to be really far-fetched.
      XCSkater: Look at the photo and read the article! The whole area was closed off before he jumped.
      @NetRanger: I haven’t looked into the nail-gun thing, who knows what it looks like when I will read an actual article, like in this case here… The point is, if SD or anybody else claims ALL of these are murders, then they better make sure EVERY SINGLE ONE of those look believable. A very difficult task here. Maybe some new proofable info comes up, then I will revaluate

    • Get the Bling Bling … “So how did they do it then, in broad daylight, with everybody watching”

      Easy … slowly increasing metered doses of psychotropic drugs over the past few weeks.

      Nearly all the kids who’d actually killed people here in America, were found to have been under ‘psychiatric care’ and ‘prescribed’ drugs to ‘control their behavior’. Real professional stuff. No directly linked impulses.

      True tale … I had an acquaintance in San Francisco back in the 1960s, who’d taken a fairly large dose of LSD and came back from ‘a walk’ with his sister, in a bloody mess. He’d climbed up a wall of about ten or twelve feet near Lombard Street and decided he could fly by levitation. Not to say his sister egged him on. She was emotionally frantic in the aftermath.

      The combination of drugs in combination with meticulously worded ‘suggestions’ and ‘urgings’ can compel folks to act quite insanely. Worked wonders to turn German farm kids into icy cold murderers in the 1930s … and that was just with Amphetamines!

    • @Pat: Ok, but those drugs don’t produce reliable, precise results – anything might happen. And how were they fed the drugs? It just becomes more and more complicated to support those theories with every additional turn “they” would have had to take.
      But yeah, who knows.

  10. @Alexi Verennikov  said… “Alexi paint tungsten and sell to Amerikano tourists.”
    True story…
    An acquaintance of mine went to Russia to meet his ‘mail-order bride,’ and upon his return he showed me this beautiful amber egg he bought over there, with a bee inside.  “I only paid $20 for this, and it is worth thousands of dollars,” this guy bragged.
    Well, I carefully examined this amber egg under a lamp and noticed there were fingerprints inside, where the poor dead bee had been pressed into the center.
    Buyer beware!  One has to pause and wonder at just how much fake sh!t is being sold to international suckers in Sochi this month.
    I would be skeptical of any commemorative Olympic silver coins brought back from there.

    • LOL you haven’t been to Russia, have you?
      First of all, unless there is a special ”act of Putin” allowing it,  anything made from precious metals (silver, gold, platinum, etc.) or of any historical value are forbidden by law to be exported from Russia. Apparently the exodus of many of these treasures during the 1990′s made their government a bit angry and they now want to keep hold of (or in some cases reclaim) them ….. can you blame them? You are in luck however as you can still buy a Russian designed refrigerator, tractor or car!

  11. Here’s To Jp Morgan!!!

  12. LOL!!!
    “to safeguard your account”… From what? From getting more money on it? LoL!!!

  13. Interesting… I pay my ex-wife her alimony by going in to the bank and depositing cash into her account. We do this so that there are 0 days of waiting for a check to clear.  Guess I will have to start using a check and just doing it earlier.

  14. These guys are despicable. We’ve already covered that before.  I serve these citizens that carry credit and debit cards from the big 5 banks.  It’s only conjecture on my part but I don’t think most of them pay too much attention to financial and economic news.  They just work go home and pay for the beer and cigs with their bank cards.  When you’re on the job you can’t really rub people’s noses in these issues.  You might not have a job when you arrive for your next shift. 

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