Friday, November 15, 2013


The notion that the Government is cracking down on freedom in general and preparing to freeze our accounts and restrict movement of money because of that elusive financial apocalypse the right wing has been predicting since Obama was elected, is the bread and butter of such opinion sources as the Daily Paul,  Natural News, and Alex Jones'  who amongst too many others to count are celebrating the false report that Chase Bank is limiting cash withdrawals and outgoing international wire transfers.  The story lacks only truth to be shocking. You can read a more honest appraisal at Forbes.  True, Chase is upping fees on certain kinds of business checking accounts, but pace the Liberterrorists, no one in Government is forcing them to do it and what we're seeing is Capitalism at work. Chase simply wants to make more money. Don't we all?

According to an e-mail from PT, a Libertarian organization dedicated to misleading people about the need to get their money out of the country before the Liberals confiscate it and give it to "the takers," Chase customers have received the following letter:

Dear Business Customer,

Starting November 17, 2013:
- You will no longer be able to send international wire transfers. 
You will still be able to send domestic wires and receive
both domestic and international wires. We'll cancel any international
wire transfers, including reccurring [sic] ones, you scheduled to be sent
after this date.

- Your cash activity limit for these accounts(s) will be $50,000 per
statement cycle, per account. Cash activity is the combined total
of cash deposits made at branches, night drops and ATMs and cash
withdrawals made at branches (including purchases of money orders)
and ATMs.

These changes will help us more effectively manage the risks involved
with these types of transactions. 
No they haven't.  Unfortunately devotees of Paul and Jones and all the other panic profiteers will take it at face value without taking a moment to check the facts. Some won't even notice the misspelling and poor wording, the urge to believe being as strong as it is.  The confusion between the artifacts of free market capitalism and  Federal authoritarianism  continues to be the medium in which the fungus of  Right Wing politics is grown -- and grown in the dark, of course.


Frank Moraes said...

Good article! Thanks for alerting me to this kerfuffle. My take is slightly more broad. Most libertarians don't care about this kind of stuff because it isn't the government doing it. They seem to think that only the government can reduce liberty--or at least it is the only kind of liberty theft we should care about. Anyway, I wrote about it in a bit more detail here:

Skewed Focus and Libertarian Conspiracy

Libertarians are constantly fascinating: totally convinced of their "first principle" correctness and totally wrong.

Capt. Fogg said...

Thanks, I enjoyed your post. So many of the nattering nitwit class however can't distinguish between market forces and presidential dictates. If the price of gasoline goes up, it's the president's fault for not simply commanding them to go down. That first principle only includes the invisible hand when it suits them. Most of the time it's just lie, cheat and steal.

There's no excuse for people like Rand and all the other pinhead pundits and opinion shouters. They're simply lying for power and profit.