U.S. Banks Begin Charging for Deposits
Mar 29, 2015 12:57:26 #
Negative Interest Begins....
Here we go for the Doubters out there... pay close attention and learn something or shut your MOUTH !
Patriots or T*****RS is all that's left... coming soon to a town near you.
Run On Banks impending, soon we'll be just like GREECE !
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
(NaturalNews) Since the Great Recession of 2008, something strange has been happening to the country's financial sector, and banking in particular. As in, there is little about the sector that resembles "banking" these days, at least in the sense that most Americans understand it.
Even before 2008, Americans were being given fewer and fewer reasons to deposit their money in banks. For example, the amount of interest you could earn on your deposits has been falling for decades.
Now, following years of Federal Reserve- and taxpayer-driven bailouts, as well as cumbersome new financial regulations passed in 2010, the banks have had established a revenue flow outside of normal banking activities such as earning interest from loans -- so much that they figure they can begin charging for services that define their existence in the first place.
As reported by The Wall Street Journal, some big banks like JPMorgan Chase & Co. are going to start penalizing bigger clients for bothering to use them as a place to stash their money. What's more, the action is liable to cost the big banks a lot of money -- money that they apparently can afford to lose because, again, they're getting fed more by the Fed these days than by customers [not to mention that they don't need deposits, since they create new money for loans]:
J.P. Morgan Chase & Co. is preparing to charge large institutional customers for some deposits, citing new rules that make holding money for the clients too costly, according to a memo reviewed by The Wall Street Journal and people familiar with the plan.
Banks penalized for taking deposits?
The paper further noted that the bank, the largest in the U.S. based on assets, is looking to reduce the amount of deposits by $100 billion by the end of this year, as per information put out during a recent bank presentation.
The decision is the latest in a series of actions being discussed by large global banks over the past few months as a way to discourage deposits due to low interest rates and new regulations.
Those steps being taken by JPMorgan Chase are among the broadest and most detailed, WSJ noted. Sources who spoke with the paper said the bank's annual strategy was to be revealed a few days ago during a meeting with investors.
"Among other points, the bank is expected to stress alternatives [that] customers affected by the deposit moves can use for their excess cash," the paper reported.
Retail customers of the bank are not expected to be affected by the new policies. However, high-dollar customers like financial firms, hedge funds, foreign banks and private equity companies are going to be impacted most, the memo said, according to the WSJ.
At issue: The bank wants to shed $200 billion in what it has determined to be "excess" deposits from other financial institutions. That's out of some $390 billion of total deposits from those institutions.
"We are adapting to a changing regulatory environment across our company," the JPMorgan memo, sent Feb. 23, said. It was signed by the bank's asset-management, commercial-bank and corporate and investment-bank heads, WSJ reported.
Those holding the brass ring will wing
The new federal rules, embodied in the Dodd-Frank financial reform legislation signed by President Obama more than four years ago, makes holding deposits -- in an era when doing so was less profitable -- more risky.
The rules state that banks can be penalized for holding onto deposits that are at risk of fleeing in another financial crisis. And being one of the world's largest banks, JPMorgan Chase is going to be affected first, and in a big way, because it's businesses are diverse and complex.
Left unsaid, however, is what the government would do to ordinary Americans who might only have $10,000 or $20,000 in an account -- but who would seek to nab it during a financial crisis. There has been some speculation that one of the government's many financial regulation agencies could swoop in and prevent that money from being taken, or allow the banks to take a portion of deposits to remain solvent, as happened in Cyprus in 2013.
The American financial sector is changing rapidly, before our eyes, and all due to government meddling and/or influence. It's a safe bet that those who hold the keys to the brass ring, however, are going to be the ones who come out on top (again) during the next crisis.
Sources:
http://www.wsj.com
http://www.marketwatch.com
http://www.naturalnews.com
Submit Join over four million monthly readers. Your privacy is protected. Unsubscribe at any time.
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Here we go for the Doubters out there... pay close attention and learn something or shut your MOUTH !
Patriots or T*****RS is all that's left... coming soon to a town near you.
Run On Banks impending, soon we'll be just like GREECE !
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
(NaturalNews) Since the Great Recession of 2008, something strange has been happening to the country's financial sector, and banking in particular. As in, there is little about the sector that resembles "banking" these days, at least in the sense that most Americans understand it.
Even before 2008, Americans were being given fewer and fewer reasons to deposit their money in banks. For example, the amount of interest you could earn on your deposits has been falling for decades.
Now, following years of Federal Reserve- and taxpayer-driven bailouts, as well as cumbersome new financial regulations passed in 2010, the banks have had established a revenue flow outside of normal banking activities such as earning interest from loans -- so much that they figure they can begin charging for services that define their existence in the first place.
As reported by The Wall Street Journal, some big banks like JPMorgan Chase & Co. are going to start penalizing bigger clients for bothering to use them as a place to stash their money. What's more, the action is liable to cost the big banks a lot of money -- money that they apparently can afford to lose because, again, they're getting fed more by the Fed these days than by customers [not to mention that they don't need deposits, since they create new money for loans]:
J.P. Morgan Chase & Co. is preparing to charge large institutional customers for some deposits, citing new rules that make holding money for the clients too costly, according to a memo reviewed by The Wall Street Journal and people familiar with the plan.
Banks penalized for taking deposits?
The paper further noted that the bank, the largest in the U.S. based on assets, is looking to reduce the amount of deposits by $100 billion by the end of this year, as per information put out during a recent bank presentation.
The decision is the latest in a series of actions being discussed by large global banks over the past few months as a way to discourage deposits due to low interest rates and new regulations.
Those steps being taken by JPMorgan Chase are among the broadest and most detailed, WSJ noted. Sources who spoke with the paper said the bank's annual strategy was to be revealed a few days ago during a meeting with investors.
"Among other points, the bank is expected to stress alternatives [that] customers affected by the deposit moves can use for their excess cash," the paper reported.
Retail customers of the bank are not expected to be affected by the new policies. However, high-dollar customers like financial firms, hedge funds, foreign banks and private equity companies are going to be impacted most, the memo said, according to the WSJ.
At issue: The bank wants to shed $200 billion in what it has determined to be "excess" deposits from other financial institutions. That's out of some $390 billion of total deposits from those institutions.
"We are adapting to a changing regulatory environment across our company," the JPMorgan memo, sent Feb. 23, said. It was signed by the bank's asset-management, commercial-bank and corporate and investment-bank heads, WSJ reported.
Those holding the brass ring will wing
The new federal rules, embodied in the Dodd-Frank financial reform legislation signed by President Obama more than four years ago, makes holding deposits -- in an era when doing so was less profitable -- more risky.
The rules state that banks can be penalized for holding onto deposits that are at risk of fleeing in another financial crisis. And being one of the world's largest banks, JPMorgan Chase is going to be affected first, and in a big way, because it's businesses are diverse and complex.
Left unsaid, however, is what the government would do to ordinary Americans who might only have $10,000 or $20,000 in an account -- but who would seek to nab it during a financial crisis. There has been some speculation that one of the government's many financial regulation agencies could swoop in and prevent that money from being taken, or allow the banks to take a portion of deposits to remain solvent, as happened in Cyprus in 2013.
The American financial sector is changing rapidly, before our eyes, and all due to government meddling and/or influence. It's a safe bet that those who hold the keys to the brass ring, however, are going to be the ones who come out on top (again) during the next crisis.
Sources:
http://www.wsj.com
http://www.marketwatch.com
http://www.naturalnews.com
Submit Join over four million monthly readers. Your privacy is protected. Unsubscribe at any time.
More news on negative interest ratesMonsanto: The world's poster child for corporate manipulation and deceit
Extreme bias at Wikipedia on homeopathic medicine
Guatemalan STD medical experiments were just one crime in a long history of medical-government collusion to use humans as guinea pigs
Vicious v*****e culture war now being waged against informed, intelligent Americans who seek to protect their children from deadly side effects
131 Ways for an Infant to Die: V*****es and Sudden Death
Magnesium crucial to prevent congestive heart failure
NaturalNews exclusive: Michigan government unleashes armed raids on small pig farmers, forces farmer to shoot all his own pigs
Take Action: Support NaturalNews.com by linking back to this article from your website
Permalink to this article:
Embed article link: (copy HTML code below):
Reprinting this article:
Non-commercial use OK, cite NaturalNews.com with clickable link.
Follow Natural News on Facebook, Twitter, Google Plus, and Pinterest
Learn more: http://www.naturalnews.com/049125_negative_interest_rates_banks_financial_collapse.html?AID=7236#ixzz3VnJwo2yp
Mar 29, 2015 13:35:40 #
I've been saying that the banks will start charging us to deposit our money for some time now. It's time to make withdrawals and bury your cash in the ground where it will be safe.
Mar 29, 2015 13:49:03 #
J Anthony
Loc: Connecticut
The government has been colluding with private bankers for a century now, this is not new, and it is clear that today the government is more beholden to the privately-controlled monetary-system than vice-versa, as they seem bent on propping up this archaic, destructive system more than anything else. The root of the problem is allowing private bankers to own and control the creation of currency and credit, our government having ceded the authority to do so long ago.
Mar 29, 2015 15:52:33 #
Orrie wrote:
I've been saying that the banks will start charging us to deposit our money for some time now. It's time to make withdrawals and bury your cash in the ground where it will be safe.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Already started that years ago Orrie... Thnk You and Spread the word...
I only keep barely enough daily in there to run the business...
No Man's Money is safe and as Stupid Sheeple wake up to this they will start to join the Anti Bankster Movement...
There is really no other choice !
Sounds to me like a whole new Form of People's Banking will have to be installed...
Hmmmm wonder what that looks like...
Mar 29, 2015 15:54:25 #
J Anthony wrote:
The government has been colluding with private bankers for a century now, this is not new, and it is clear that today the government is more beholden to the privately-controlled monetary-system than vice-versa, as they seem bent on propping up this archaic, destructive system more than anything else. The root of the problem is allowing private bankers to own and control the creation of currency and credit, our government having ceded the authority to do so long ago.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
J, those of us who know this and studied it are in agreement...
But help with a BluePrint to reversing he damages done through the Currently Elected Officials in office NOW !
Therein lies the problem...
What is the immediate course of action ?
Mar 29, 2015 16:50:48 #
J Anthony
Loc: Connecticut
Sicilianthing wrote:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
J, those of us who know this and studied it are in agreement...
But help with a BluePrint to reversing he damages done through the Currently Elected Officials in office NOW !
Therein lies the problem...
What is the immediate course of action ?
J, those of us who know this and studied it are in agreement...
But help with a BluePrint to reversing he damages done through the Currently Elected Officials in office NOW !
Therein lies the problem...
What is the immediate course of action ?
Disengagement. Get your money out of any and all usurious criminal financial institutions. They will try and reign havoc down upon the populace but we do not have to allow it once we start creating our own debt-free currency. A united citizenry that understands the system and challenges it would scare the hell out of these people, because it would be an unexpected shock....but I realize that still leaves the question, how do we get people united on this? Let's work on that.
Mar 29, 2015 19:16:50 #
Orrie wrote:
I've been saying that the banks will start charging us to deposit our money for some time now. It's time to make withdrawals and bury your cash in the ground where it will be safe.
Problem with that buried cash is multifold: it is subject to the hidden tax of inflation and it is not working for you at all. Better to purchase something that you need, invest in G&S, arable land (farms) or to pay down your debt to become as free & clear as you can.
And, should the banks collude with the Fed to hyperinflate the dollar while your cash languishes in the ground, it may reach a point where the effort of digging it up would not be worth the buying power of the notes--especially when weighed against the risk of throwing out your back.
On second thought, that could be some mighty purty TP you've got hoarded there, pardner!
Mar 29, 2015 20:04:25 #
J Anthony wrote:
Disengagement. Get your money out of any and all usurious criminal financial institutions. They will try and reign havoc down upon the populace but we do not have to allow it once we start creating our own debt-free currency. A united citizenry that understands the system and challenges it would scare the hell out of these people, because it would be an unexpected shock....but I realize that still leaves the question, how do we get people united on this? Let's work on that.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
I'm already there with you on that... I'm almost all Cash n Carry...
Let me know what to do to begin action on this...
Mar 30, 2015 06:02:20 #
gynojunkie wrote:
Problem with that buried cash is multifold: it is ... (show quote)
Well, if things get really bad I guess buying necessities you can barter with. Like ammo, cigarettes, first aid supplies, batteries is better than having your cash rot away in the ground.
Mar 30, 2015 07:10:54 #
J Anthony
Loc: Connecticut
It is unfortunate that the threads concerning the banks and the monetary-system are the ones that get the least attention or input from other posters. It's a shame, because this is among our most relevant problems, and an area where, if enough people were involved and took action, the effect would be most profound and immediate. This is one of those areas of concern that cut across all political boundaries.
Mar 30, 2015 10:03:01 #
J Anthony wrote:
It is unfortunate that the threads concerning the banks and the monetary-system are the ones that get the least attention or input from other posters. It's a shame, because this is among our most relevant problems, and an area where, if enough people were involved and took action, the effect would be most profound and immediate. This is one of those areas of concern that cut across all political boundaries.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Agreed, that's why I HAMMER it home every day I can ....
This is the Fight every other fight leads to...
Follow the money...
Mar 30, 2015 10:24:06 #
J Anthony
Loc: Connecticut
Sicilianthing wrote:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Agreed, that's why I HAMMER it home every day I can ....
This is the Fight every other fight leads to...
Follow the money...
Agreed, that's why I HAMMER it home every day I can ....
This is the Fight every other fight leads to...
Follow the money...
Mar 30, 2015 10:26:21 #
J Anthony
Loc: Connecticut
Sicilianthing wrote:
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Agreed, that's why I HAMMER it home every day I can ....
This is the Fight every other fight leads to...
Follow the money...
Agreed, that's why I HAMMER it home every day I can ....
This is the Fight every other fight leads to...
Follow the money...
I appreciate what you do. Keep it up, as will I. I am working on a step-by-step plan for direct action with a couple of others; as soon as it's cohesive and succinct we will post it here.
Mar 30, 2015 10:30:43 #
J Anthony wrote:
I appreciate what you do. Keep it up, as will I. I am working on a step-by-step plan for direct action with a couple of others; as soon as it's cohesive and succinct we will post it here.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Thank God J. we Need all the Patriot Participants we can gather...
I'm all IN... just let me know...
Mar 30, 2015 11:01:03 #
I heard about this over 2 years ago.Your retirement check as well as your social security check would be taxed as soon as it was deposited.Nothing new here. Just took them a while to start doing it. everywhere you turn you are being 'F" these days.
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