Bail-Ins Appear to Be Beginning

On Monday, one man that I personally know recently attempted to transfer a sizable sum of money (i.e. $110,000) from savings to checking to cover a check he had written for a large purchase. He attempted to move the money through online banking, which nobody should ever engage in, and was unsuccessful. He went to the bank and was subsequently told that there was a problem with his account and he could only transfer about 10% of what he intended to transfer from savings to checking. He inquired as to what the problem was and he was told that the branch did not have access to that information, only that he would not be permitted to make this transfer of funds “at this time”. Today, the charge will hit the bank and the check that he wrote is likely to bounce and will have serious ramifications to his credit. He told me that he is returning to his bank, Chase, with his attorney.

In a more serious situation, a man who has direct deposit from his employer to his bank account, has failed to receive his latest check. The money was due to be paid into his account on December 20, 2014. He called his employer’s accounts payable and was told that the credit had posted on the evening of December 19. Yet, the bank has told this desperate man that they have not received his check. The check also included an end of year bonus and as such is sizable (e.g. in excess of $60,000). This means that the bank has had his money for nine days and cannot account for the money. I have advised this Bank of America account holder to contact the FBI and report this as a crime.


h/t Kathy P

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2 Responses to Bail-Ins Appear to Be Beginning

  1. My direct deposit paycheck goes into a state credit union, and I carry a cashier check to the bank where I pay my bills, BOA. I just put in a check to pay my property taxes. If the checks bounce, the county isn’t getting their money either. It’s amazing how fast things can turn. Conventional wisdom says within 72 hours of grid down, we’ll have chaos in the streets. It’s more like 24 hours, or 4 hours with social media. I’m sure they’re keeping this as quiet as possible. Thanks for being the canary in the coal mine. Keep your powder dry!

    • David says:

      There are many avenues which will bring about the downfall of our economic system and republic. If it was me, I would do many attacks so that people would be misdirected and led to the slaughter house.

      I can see it now: “Fire Boehner” on their lips as they are led to an internment camp. Keep your powder dry and plentiful.

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