I just got a text from my brother who went to a Chase branch in southern California.He went to withdraw some cash (I don’t know how much) but apparently it exceed the amount they had in the drawer.
I just got a text from my brother who went to a Chase branch in southern California. He went to withdraw some cash (I don’t know how much) but apparently it exceed the amount they had in the drawer. So the teller had to go back to the vault to replenish and when the teller came back, they said casually that it was the last stack of $10,000 in cash they had on hand. Then mentioned that since they are a smaller branch they don’t tend to keep very much on hand and it probably wouldn’t be replenished until NEXT WEEK! My brother then asked what would happen if he needed cash and they didn’t have it. The answers were 1. Go to another branch 2. They’d write a money order 3. They’d file a request for funds that may take the bank a few days to receive. (All of which makes you feel VERY secure about accessing your own money, right?)
What an illusion of wealth and safety! JPMorgan Chase is one of the banks that have been central to the reports of coming capital controls and such. To hear that this branch, which probably has tens of millions of dollars in deposits from depositors in surrounding area, ONLY has 10K in the vault for the rest of the week, is a major red flag. I’ve been telling him for a while to get out of that bank ASAP and maybe this opened his eyes. They are set up to basically minimize withdrawals to essentially 0 if there is a bank run. As he said in response to my reply email “If there is a bank run, the second person in line would say “What do you mean there is no more money? I was the second person here?” I think that about typifies how shocked 99% of America would be the day they realize it’s all a house of cards pretending to be safe. Depositing money into JPM Chase is like letting a compulsive gambler hold your wallet. Just kiss it goodbye. You’re just financing their gambling habit for a fraction of time. Tomorrow they need to find more suckers to do the same thing.
Good news for whistleblowers like us is that it proves that laying ground work for the reality of what’s happening out there rests in the back of people’s minds until their personal experience starts to prove the things you’ve been saying all along are indeed true. We’ll see what he does moving forward after this experience. It does however prove that even people with finance degrees can be conned to believe in the system. In fact, we just watched The Big Short the other night and almost in the way that the Matrix was an eye opening movie for most, the Big Short, combined with his experience today is having an eye opening effect too. Steve Carell’s character has a moment in the movie where it all becomes clear to him and it cuts to the next scene with him calling his office saying “It’s all a fraud! The whole thing is a fraud!” as he proceeds to short the subprime mortgage industry.
Blessings to you
Feb 1, 2016