(NaturalNews) Few could have envisioned it even just a few years ago, but it’s happening now, and on an ever-widening scale. More big U.S. banks are shunning cash, because the banking system has become so dependent on other “assets” that large cash deposits actually pose a threat to their financial health, according to The Wall Street Journal.
And the largest U.S. bank in terms of assets — JP Morgan Chase & Co. — has dramatically cut “unwanted” deposits to the tune of $150 billion this year alone, in part by charging customers fees. Continue reading
As Deutsche Bank’s George Saravelos politely puts it, “Developments since the Greek election on Sunday have moved very fast.” And indeed, so far the new Tsipras cabinet, and here we focus on the words and deeds of the new finance minister Yanis Varoufakis, has shown that the market’s greatest hope – that the status quo in Greece will continue – has been crushed into a pulp (and so have Greek stock and bond prices) especially following yesterday’s most recent comments by the finmin in which he said that Greece “does not want the $7 billion” from the Troika agreement and that it wants to “rethink the whole program”, culminating with an epic exchange with Eurogroup chief Jeroen Dijsselbloem in which Greece made it clear that the “constructive talks” are over.
And suddenly the Eurozone is stunned, because what had until now been its greatest carrot when it comes to dealing with Greece, has become completely useless when the impoverished, insolvent nation itself says it no longer needs a bailout, seemingly blissfully unaware of the consequences. Continue reading
The background on Bitcoin isn’t all that clear, but with JP Morgan Chase & Co. it is. This bank has been known to be not-so ‘Obama friendly’ and subsequently became a large target of the Obama administration via extortion. It doesn’t take much to connect the dots. The public doesn’t care, either, as they see these executives as ‘one per-centers’ and ‘big evil bankers’, yet they can never put a face to these supposed villans and put all bankers in the same basket. America is infiltrated and overrun in every facet of society from the military to the banking industry and the judicial system to the school system.
See the following related articles for a background on JP Morgan Chase & Co.:
- J.P. MORGAN’S $13 BILLION SETTLEMENT CASTS DOUBT ON OBAMA DOJ’S PROSECUTORIAL DISCRETION
- Burglarizing J.P. Morgan Chase, And Slapping Down Prudential: The New, Tyrannical Normal
- J.P. Morgan’s Legal Tally Grows (Again)
It appears bitcoin’s recent turmoil has claimed its first life.
Autumn Radtke, a 28-year-old American CEO of bitcoin exchange firm First Meta, was found dead in her Singapore apartment on Feb. 28.
Radtke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.
Radtke’s death brings the number of questionable financial sector deaths this year to eight. Continue reading
Cyber attacks on the biggest U.S. banks, including JPMorgan Chase & Co. (JPM) and Wells Fargo & Co., have breached some of the nation’s most advanced computer defenses and exposed the vulnerability of its infrastructure, said cybersecurity specialists tracking the assaults.
The attack, which a U.S. official yesterday said was waged by a still-unidentified group outside the country, flooded bank websites with traffic, rendering them unavailable to consumers and disrupting transactions for hours at a time.
While the group is using a method known as distributed denial-of-service, or DDoS, to overwhelm financial-industry websites with traffic from hijacked computers, the attacks have taken control of commercial servers that have much more power, according to the specialists.
“The notable thing is the volume and the scale of the traffic that’s been directed at these sites, and that’s very rare,” Dmitri Alperovitch, co-founder and chief technology officer of Palo Alto, California-based security firm CrowdStrike Inc. (0192981D), said in a phone interview.
Full article: Cyber Attacks on U.S. Banks Expose Computer Vulnerability (Bloomberg Businessweek)