Was There A Run On The Bank? JPM Caps Some ATM Withdrawals

Under the auspices of “protecting clients from criminal activity,” JPMorgan Chase has decided to impose withdrawal limits on certain ATM transactions. As WSJ reports, following the bank’s ATM modification to enable $100-bills to be dispensed with no limit, some customers started pulling out tens of thousands of dollars at a time. This apparent bank run has prompted Jamie Dimon to cap ATM withdrawals at $1,000 per card daily for non-customers. Continue reading

Russia Is Set to Triple Nuclear Supersonic Bomber Force

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As The National Interest previously reported, last month Russian Defense Minister Sergei Shoigu announced that Russia would resume production of the Tu-160 strategic bomber, a Soviet-era aircraft that is capable of carrying both conventional and nuclear weapons.

On Thursday, Col. Gen. Viktor Bondarev, the commander-in-chief of Russia’s Air Force, revealed that Moscow will purchase at least fifty of the Tu-160 strategic bombers once production resumes.

“No less than 50 aircraft over time will be purchased in order to cover the costs that will go into production,” Bondarev said, according to Russian state media outlets.

This will dramatically increase Russia’s bomber capabilities as only fifteen Tu-160s currently remain in service (about 35 were originally built, according to Russian media outlets). That is at least a 333 percent increase in the number of Tu-160s in Russia’s arsenal. Continue reading

Ukraine’s currency just collapsed 50 percent in two days

Ukraine, to use a technical term, is broke. That’s what you call a country whose currency has lost half its value in just two days.

The problem is simple: Ukraine has no money and barely any economy. It’s already talking to the IMF about a $15 billion bailout and what’s euphemistically being called a debt “restructuring”—i.e., default—as its reserves have dwindled down to $6.42 billion, only enough to cover five weeks of imports. (Three months worth is considered the absolute least you can get by with). Continue reading