NOVA » October 17th, 2013, 2:20 pm Good Afternoon James49,
The simple answer to the first part of your question is NO. All that Matters Is That WHEN THE RATE IS RELEASED BY THE IMF & CBI you will be able to do what ever you want with your IQD.
As for the Second part of your question.
All The Craziness in the last 24 hours about these letter that Chase has sent out is an example of how things in the Dinar world get spoon out of control.
These letters are about Chase restructuring there Business Accounts. If you want or need to move money out of the country you can, you will just need to move up the latter AKA PAY MORE FEES TO DO SO!!!
Read More Link On Right
Nova Continues: Now please do not Misunderstand ME!!!
Capital Controls Are Coming To A Bank Here You Quite SOON!!!!
If you were to ask me, What should I be thinking about? I Would Say This,
You No Longer Needed To Worry About The Return ON YOUR MONEY, But THE RETURN OF YOUR MONEY. Hope This Helps, Nova
walkingstick » October 17th, 2013, 7:15 pm • [Post 10] INVESTING | 10/17/2013 @ 1:46PM |
No, JPM Isn't Banning International Wire Transfers, No Limits On Withdrawals Either
Is JPMorgan Chase JPM +0.28% trying to control customers’ money by preventing wire transfers and limiting withdrawals?
NEW YORK, NY - MAY 14: A man uses his cell ph...That’s the fear after a couple of reports from Drudge and Zero Hedge noted a change in the bank’s withdrawal and wire transfer policies for small business checking accounts.
Chase says the fear is unfounded.
The reports are referring to a new $50,000 limit on monthly cash activity being imposed on small business checking accounts and a ban on outgoing international wire transfers on those accounts.
Small business customers received letters from the bank stating that the changes are effective November 17. “These changes will help us more effectively manage the risks involved with these types of transactions,” the letter states.
One report dubs Chase’s new rules “a war on cash and a war on small business and individuals” and says the new rules will lead to “a total TOT +1.27% cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom.” Scary stuff.
The fear is that banks, and indirectly, the federal government have too much control over individuals’ money which sits in the form of deposits. Limiting withdrawals and keeping people from sending money overseas feels like capital control–a government attempt to prevent money from flowing out of the country. Think Iceland and Cyprus.
JPM says that’s not what’s happening here.
First, a quick visit to the bank’s business banking website shows that international transfers are still available–you just have to pay up for them.
The bank’s basic business account, Chase Total Business Checking, does not allow outgoing international wire transfers (it does allow them to come in) and cash activity is indeed limited to $50,000 per month. Cash activity means withdrawals and deposits. The account has a $10 monthly fee which is waived with a $1,500 minimum daily balance.
Need to withdraw or deposit more than $50k? You can but you’ll have to pay more in monthly fees to do so.
Upgrade to Chase’s Performance Business Checking and there’s no cash activity limit. Plus, you get two domestic wires transfers per month at no charge and international wires are available for an additional fee. Of course, there’s a $20 monthly fee that’s waived if you can maintain $50,000 balance.
Upgrade even higher to the Chase Platinum Business Checking and get four outgoing wires per month at no charge and reduced pricing on additional wires. Again, no cash activity limit here but the Premium account has a whopping $95 monthly fee that is waived if deposit balances are $100,000 or more.
But let’s get back to that basic business account. Chase says you can still exceed the $50,000 cash activity limit but do it four times in a rolling calendar year and you’ll get automatically bumped to the level account.
So while the Performance Business and Platinum level accounts have no cash activity limit you’ll have to maintain higher balances to avoid the larger monthly fees in these upgraded accounts.
It looks like theses changes are more about Chase looking to generate more revenue from fees than an attempt to control capital.
james49 » There is only one thing to do and that is pray and pray some more. I'm not the only one blown :ezplode: away by all what is going on, if your really smart :genie: you might just figure out what just happened in the last 24 hours and be able to reason with it :goodluck: ,but I'm lost and confused :hmmm: so as I said, pray, pray and pray some more
Frank26 » GREETINGS FAMILY :
I WAS GOING TO GIVE YOU A LONG EXPLANATION ON WHAT CHASE IS DOING BUT INSTEAD HERE IS A COMPACT VERSION. REASON BEING ..........IS BECAUSE NOVA HAS DONE AN EXCELLENT JOB IN INTRODUCING NEXT MONDAY AND TUESDAY'S CC.
ALSO......I HAVE ASKED EAGLE1 TO GET AN UPDATE FROM HIS BANK SOURCES ON CHASE ACTIVITY.
FOR WHAT IT'S WORTH FAMILY........WE ASK DIFFERENT QUESTIONS THAN MANY OF YOU PROPOSE. EVERYBODY CALLING ME WANTS TO KNOW IS IT TRUE THAT CHASE WILL NOW LIMIT US TO $50,000 IN CASH WITHDRAWALS PER DAY?
WHERE THE CORRECT QUESTION SHOULD BE.......WHAT WAS THE LIMIT OF DAILY WITHDRAWALS BEFORE THIS EMAIL WENT OUT?
BECAUSE IF THE ANSWER IS........UNLIMITED. THEN WE HAVE A GOOD PROBLEM BECAUSE WE HAVE TO CONSIDER THAT THIS ACTION MAY BE RELATED TO OUR INVESTMENT.
IF ......IT WAS ORIGINALLY LET'S SAY SET AT $100,000 PER DAY......THEN ALL THEY ARE DOING IS POSITIONING THEMSELVES TO MAKE A HIGHER PROFIT FROM YOU IN THEIR BANKING TRANSACTIONS OF CASH.
LIKE NOVA TRIED TO EXPLAIN.......IT'S NOT A QUESTION OF WHETHER A BANK CAN HELP YOU WITH YOUR MONEY.......
IT'S MORE A QUESTION OF WILL THE BANK YOU CHOOSE GIVE YOU BACK YOUR MONEY AFTER YOU HAVE DEPOSITED IT INTO THEIR ACCOUNTS?
YOU NEED TO BE A DEDICATED STUDENT TO THIS INVESTMENT BECAUSE YOU HAVE ALREADY CONQUERED THE EASIEST QUESTION OF BUYING OR NOT BUYING DINARS.
THE NEXT QUESTIONS THAT ARE RAPIDLY APPROACHING .......
DEPENDING ON HOW YOU ANSWER THEM IMO.....WILL DETERMINE WHAT HAPPENS WITH YOUR MONEY.
SO PRAY FOR US AS WE CONTINUE TO ASK.....OUR QUESTIONS. SHABIBI MADE A NICE SPEECH ........I SURE HOPE WE ARE ALLOWED TO READ IT SOON.
MALIKI WAS SUPPOSED TO JOIN THE DC PARTY ON THE 25TH........THEN YESTERDAY THEY CHANGED IT TO NOVEMBER 1ST.
MAY I EXPRESS AN OPINION BASED ON THE RIGHT QUESTIONS BEING ASKED?
IS MALIKI AND OBAMA AT THIS VERY SECOND .............. INCHES APART FROM EACH OTHER ............. IN DC?
ONE MORE THOUGHT IF I MAY PRETTY PLEASE. WILL O TELL M .......... GO BE WITH YOUR FAMILY ......... NOW. JUST ASKING ............. QUESTIONS.
TAKE CARE OF EACH OTHER .............. MY CHRISTIAN LOVE AND ALOHA.
PS........... NOVA IS FROM BOSTON. GAME 5 TONIGHT. I THINK I'LL OPEN A CAN OF BAKED BEANS AND EAT 'EM UP. LOL! KTFA, FRANK
Posting for Frank26:
On Monday's conference call, Frank will have a special guest, a football coach that Frank introduced to the family last year; Hollywood is making a movie about this gentleman's career.
He will join Frank's conference call on Monday, and he will ask questions to continue the dialogue and discussion that Nova brought to us this past Monday.
On Tuesday, Frank will have another special guest -- Delta will join the conference call. Delta does not have anything further to add than what he has already shared, which is why he has not been joining the conference calls.
However, in response to so many asking to hear from him, he has graciously accepted Frank's invitation to be on the call on Tuesday, and he will take questions as well.
Please join Frank on Monday and Tuesday for these exciting and dynamic conference calls.
pmart » FRANK.....QUESTION.....PLEASE....QUESTION...... WHERE ARE THE AOPs RIGHT NOW? WHERE IS GEORGE BUSH JR?
WERE THEY INCLUDED IN THE BIG SECRET MEETING OF ALL THE GOV. OF THE CENRAL BANKS AT THE D.C. MEETING THIS PAST WEEK.?
AND IF WE ARE AT THE END....IT WOULD ONLY MAKE SENSE TO SEND M HOME WITH HIS FAMILY. SO...WHAT YOU THINK....FRANKIE GO TIGERS !!!!!!!!
Thomas N : Hi Walkingstick Thank you for all your posts. Question for you.... If a Chinese RTing Age cy downgrades US debt shouldn't Chinese debt be down graded? WSJ stated Chiba and Japan are equally in dire straits.
Coupled with the lack of GAPP and sound audit principles being conducted with many if China's Companies it makes me aBt to go Hmmmm!!! Who's calling the kettle back? Your thought please Take care TN
kufu21 » Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers | infowars akaDaryaEconomy & BusinessPosted
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.
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.
Oct 16, 2013 - 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.
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.
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. http://iranian.com/posts/view/post/22646
BigIron : I received this letter but I was already splitting my deposits between 2 banks. I've been doing it for 5 years.
The reason I started splitting the deposits was because my original bank put a 10 day hold on a deposit. I asked the bank manager if they were sending my deposit by pony express and he just laughed. Now they only get half. If I need to I will open an account at another bank as well
harley_1 »] Chase Banking....yes they are restructuring their banking policies. If anyone has opened a checking account in the last few years, one of the questions they ask is "will you be making more than X number of deposits or withdrawals per month".
It is no surprise they are now limiting the number or amount of transactions in cash and international wire transfers. It is simply the evolution of banking and tightening of controls and yes, increasing their revenue by charging the customer more in fees and upgraded services.
Probably pioneering the way for other banks to do the same. Quite honestly, it isn't going to cause me any concern over my dinar investment, or any other type of investment. Just like the RV, whatever Chase and any other bank decides to do with "their" banking policies is completely out of my control.
LovedNblessed wrote on October 18th, 2013, 3:19 am: Greetings peeps! Just a quick catch-up. Thank you Frank and team for all you do and thank you Randy for a great post.
A thought occurred to me this morning that one big advantage to this whole Dinar thing not RVing yet is that Iraq get to keep M for longer rather than him coming to London to live! :lmao: :lmao: LovedNblessed
Frank26 » October 18th, 2013, 9:15 am • [Post 143] LOL ...... Classic!!! Put him on The Big Eye and pull the electricity when he is at the top.......... :heeheehee: Or put him inside Big Ben ............ Without earplugs...... :rofl: ALOOOOOOOOOOOOHA Friday KTFA Family....... :hibye:
We are Blessed by Grace. May You be a blessing to someone today. KTFA, Frank
walkongstick wrote on October 18th, 2013, 7:45 am: Al-Maliki visits Washington on October 29 at the invitation of Biden 18-10-2013-11: 44 Alsumaria news/Baghdad
The Office of Prime Minister Nuri al-Maliki on Friday, Al-Maliki's visit to the United States will begin on 29 October, indicating that the visit came at the invitation of us Vice President Joe Biden.
The Office said in a statement published today on his website and read the Sumerian "news", "Prime Minister Nuri al-Maliki will starting from the 29th of this month visited the United States at the invitation of u.s. Vice President Joe Biden, noting that" during the visit, will hold meetings with u.s. President Barack Obama and Vice President Joe Biden and senior officials in the United States. "
The Office said that "these meetings focused on ways to strengthen the ties of friendship and partnership in the light of the strategic framework agreement between the two countries," adding that "the talks will also deal with developments in the region especially the Syrian crisis, prospects for cooperation between the two sides to install the regional security and stability."
The Office said that Al-Maliki during the visit will also give a lecture on the situation in Iraq and the region in one of the research centers there.
The White House, Thursday (17 October 2013), that Iraqi Prime Minister Nuri al-Maliki will meet with us President Barack Obama in Washington in November.
With Prime Minister Nuri al-Maliki, on Thursday, that the purpose of his visit that he intends to make to the United States to discuss the strategic framework agreement, indicating that there is a desire to give effect to this Convention.
Frank26 » October 18th, 2013, 9:24 am • [Post 148] This has gone from the Oct 25th to the 1st of Nov then the 8th now back to the 29th of Oct. Logic says it will change again.
Something is wrong here or .......... Correctly falsified for a purpose to suit O and M. KTFA, Frank
walkongstick wrote on October 18th, 2013, 8:55 am: October 17, 2013 3:38 pm
Guessing game starts on timing of Venezuela devaluation
By Andres Schipani in Bogotá and Robin Wigglesworth in London
Beauty pageants are to Venezuela what football is to Argentina or baseball to Cuba – a spectacle that allows people to forget their everyday woes. Yet at the Miss Venezuela competition last week, even the contestant from the capital Caracas had a gritty message for the audience, saying she wanted her country “to fight in the face of adversity”.
Not even under the lights could the brunette model dodge the reality that Venezuelans are battling an economic crisis that threatens the legacy of Hugo Chávez and his “Bolivarian revolution” and which is coming to the boil as the overvalued exchange rate drains foreign reserves.
“The big warning sign for Venezuela is its plummeting foreign exchange reserves,” says Michael Riddell, a bond fund manager at M&G Investments in London.
The Opec nation’s $95bn of annual oil revenues mean default on its more than $45bn of foreign debt remains improbable. Nonetheless, analysts say the country could face financing issues, as only a small percentage of its foreign reserves are liquid.
Headline foreign reserves have fallen to $21bn from $30bn at the start of the year; furthermore, because of large gold holdings, only some $2bn of that is fully liquid.
Still, after including off-budget funds, such as a development fund that is partially Chinese financed and the foreign currency account of PDVSA, the state oil company, total available reserves are approximately $48bn, analysts estimate.
“Venezuela is not broke,” says Efraín Velázquez, president of the National Economic Council, a government watchdog. Instead, the country “has had inappropriate international reserves management”.
That mismanagement is now flaring up, however, ahead of municipal elections on December 8 – a poll widely seen as a referendum on the popularity of Nicolas Maduro, the president. Central to the economic problems he faces is the exchange rate, officially fixed at 6.3 bolivars to the US dollar but trading on the black market at close to 50 bolivars.
That widening gap has led to a flourishing arbitrage by insiders who have access to dollars at the official rate and can then sell them at the street rate, pocketing the difference. ''
Currency restrictions have also exacerbated shortages of essential goods, fuelling inflation running at almost 50 per cent a year. Toyota announced that it will this month shut its Venezuelan plant for two weeks because of delays in getting dollars needed to buy materials.
Investors outside the country have been watching worriedly. The yield on Venezuela’s benchmark 2027 dollar bond has risen to more than 12 per cent from under 9 per cent at the start of the year.
The annual cost of insuring $10m of Venezuelan debt against default for five years, as measured by credit default swaps, has also risen to $983,000 versus $600,000 in January.
Nonetheless, Francisco Rodríguez, Venezuela economist at Bank of America Merrill Lynch, shrugs off the market concerns, saying total foreign reserves of $48bn can cover some 10 months of imports and four years of debt service.
“The excessive focus on the country’s short-term liquidity situation runs the risk of missing the forest for the trees,” he wrote in a recent note to investors. '
While $2bn cash reserves might seem little, “this is not an abnormal number by Venezuelan standards – it is near the average for the past four years – making it hard to understand recent concerns with liquidity levels”.
One reason for that concern is lack of action by Mr Maduro’s administration to face up to problems. Behind the scenes, his ruling Socialist party faces internecine fights between radical ideologues and pragmatists, a tug of war that has led to a stalemate which has only worsened the economic situation.
A devaluation, for example, would boost the local currency value of Venezuela’s dollar oil receipts – the country’s time-honoured solution to closing a fiscal deficit – and also remove the need for currency restrictions.
But doing so before the December 8 elections would damage Mr Maduro, who has to decide whether his administration “wants to be politically popular or economically sustainable”, as Stratfor, the risk consultancy, puts it.
“We see little scope for President Maduro to re-engineer a new path for the economy of Venezuela,” says Paolo Batori, Morgan Stanley’s global head of sovereign strategy. He has “little flexibility for any diversion from the populist oil-financed government spending policies of his predecessor”.
Nonetheless, analysts agree a large devaluation seems all but inevitable at some point. Indeed, planning minister Jorge Giordani recently said Mr Maduro would outline changes to macroeconomic policy at “an appropriate moment”.
In the meantime, or at least until after the election, Mr Maduro has taken to blaming Venezuela’s problems on corruption, sabotage, speculation and hoarding, and has asked lawmakers for decree powers to fight graft and an “economic war”.
Co-incidentally, when his mentor Chávez presided over maxi-devaluations in 2002 and 2010, the government also claimed that the country’s foreign exchange and broader economic problems were due to economic sabotage.
Frank26 » October 18th, 2013, 9:34 am • [Post 153] Venezuela going down .......... Yesterday China Yuan up 20% to the dollar. Many swapping.
Call it a GCR or another word............. But it is HAPPENING. KTFA, Frank.......... Amen.
mike100 » October 18th, 2013, 9:42 am • [Post 158] Frank i am starting to believe Talabani is indeed DEAD!!! have u heard anything else of his presence? many are calling on the government to reveal the details.
james49 wrote on October 18th, 2013, 9:50 am: Frank if its happening when do you think we will see it? not asking for a date just Y.O.
Frank26 » October 18th, 2013, 9:56 am • [Post 163] I have to run now but IMO:
As we shared on our last CC .......... Once we see our government re-open they will become more vulnerable to telling us The Truth of the 20 nations in DC.
Then ........ We expressed to allow at least 30 days to transpire before become impatient. KTFA, Frank