Banks Stepping Up Exchange Controls

people in line for bank teller

I have long warned that a telltale sign that the dollar is about to collapse will be seen in stepped up efforts of exchange controls.

Implementing exchange controls or currency controls means closing the borders to money exit. The U.S. dollar fall must be kept in slow motion to avoid panic in world banking and world markets. Money is leaving the U.S. now for foreign currencies.

Yesterday, Alex Jones’ Prison Planet reported that JPMorgan Chase had implemented new exchange controls mandating identification for cash deposits and bans on cash being deposited to another person’s account. This move is just the latest in a series of exchange controls that have made news reports in the past few months.

In October, JPMorgan Chase banned international wire transfers and restricted cash transactions for business customers to a limit of $50,000 per statement cycle. Also last year, HSBC began limiting British customer withdrawals in amounts ranging from £5,000 to £10,000 without first informing customers.

You should keep only enough cash in banks to cover monthly bills. Keep the rest in your possession, unless you want to end up like the Cypriots who saw their bank accounts frozen for days while their lawmakers debated over how much to steal from them and hand over to the oligarchs.

As always, buy and hold gold and silver, which are about to take off for the moon.

Personal Liberty

Bob Livingston

founder of Personal Liberty Digest™, is an ultra-conservative American author and editor of The Bob Livingston Letter™, in circulation since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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