If there were ever a red flag warning about the economic and financial
destruction to come, JP Morgan Chase Bank began flying it this morning.
In
a shocking report from Infowars we learned that mega-behemoth Chase has
issued letters to thousands of business customers indicating that they
will no longer be allowing international wire transfers or cash
deposits/withdrawals in excess of a $50,000 monthly cap. 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. Their response was that these
changes were being implemented "to better serve our customers." They did
not explain how blocking all international wire transfers would "better
serve" their customers, however.
This is nothing short of a
capital control, which is an economic strategy designed to limit the
transfer of money. It is a strategy implemented only during times of
economic or financial distress, most often as a precursor to wealth
seizures by the state.
Be warned, Chase bank is the first of
likely many banks to begin the lock-down of the financial wealth of
private individuals in the United States of America.
GERALD CELENTE MELTDOWN
The
latest Gerald Celente video has him going ballistic as he covers
today's news. I really can't blame him. Those of us who cover this on a
daily basis can barely believe the things that are happening in our
nation. And just when you think it can't get any more nuts, it gets more
nuts.
Then we watch our friends and neighbors giving that
"zombielike" blank stare when we try to have a discussion on these
events. So Gerald melted down. Good for him! Meanwhile we all wait. We
all wait for Americans to wake up en mass or we wait for America to
crash and burn.
It may not happen this month, or even this year,
but food stamp riots are coming to America. In fact, we got a small
preview of the coming food stamp riots this past weekend when a
"temporary system failure" caused food stamp cards to stop working in 17
U.S. states. Within hours, there were "mini-riots" at Wal-Marts and
other retailers that rely heavily on food stamp users. So what would
happen if food stamp benefits were cut off or reduced for an extended
period of time? As you will see below, if Congress had not pushed
through a "deal", the USDA would have started cutting off food stamp
benefits on November 1st.
Image: Groceries.
Considering
the fact that 47 million Americans are on food stamps and more than 100
million Americans are enrolled in at least one welfare program run by
the federal government, that could have sparked massive rioting. So the
good news is that the coming food stamp riots will probably not happen
in November. The bad news is that the "deal" in Congress only delays
the political fighting until after Christmas. In just a few months we
will be dealing with a potential "government shutdown" and a debt
ceiling deadline once again.
Most Americans have no idea what almost just happened. According to
Reuters, the state of North Carolina had already cut off some welfare
benefits for the month of November... North Carolina has become the
first state to cut off welfare benefits to poor residents in the wake of
the partial federal government shutdown, ordering a halt to processing
November applications until a deal is reached to end the federal
standstill. More than 20,000 people -- most of them children --
receive monthly benefits aimed at helping them buy food and other basic
supplies through North Carolina's welfare program, called Work First,
which is fully funded by the federal government. Recipients must reapply
each month.
And as Mac Slavo recently detailed, the USDA was
already planning to cut off food stamp assistance to millions of
Americans on November 1st
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