Sunday, April 26, 2015

J.P. Morgan Chase accelerates war on cash by disallowing customers to keep money in safety deposit boxes

First it was a policy of reporting anyone who deposits or withdrawals more than $10,000 in cash.  Then a chief economist from Citigroup calls for the abolishment of cash entirely.  And now on April 21, J.P. Morgan Chase is unlawfully enacting a new policy where customers cannot store cash in their safety deposit boxes, nor will the bank allow customers to use cash to pay on debts such as credit cards, mortgages, equity lines, and auto loans.
There is a war on cash going on in the U.S. banking system, and at the heart is the desperate need for the financial system to go entirely electronic since manipulation of the monetary system can only be fully employed if the banks no longer need physical money on deposit or onsite.


Payday loans should never be used as a way to fill the gap between your incomings and outgoings in a month. If that's happening to you, there's a fundamental problem that a payday loan will only make worse not better. The most important thing to do is to sort out a budget, to try to balance your costs and income.

Post a Comment