In December, 1999 ZetaTalk stated that a Financial Freeze would occur to keep banks from failing, whereby withdrawals or hours would be limited.
- When the markets start to tumble, they will tumble rapidly and may move in many directions. There may be financial freezes maintained, such that the financial status quo at a given point in time and the cash value of moneys of different countries are not allowed to float freely. Its essentially like stopping an elevator from moving up or down. It simply doesnt move after that point in time. Black markets of course will develop, but they develop somewhat slowly, not overnight. So this kind of enforced freeze, in essence a martial law of the financial field, can be maintained for many months, even years, and be somewhat effective. This is a likely outcome. This is already happening on the stock market where a run on a stock is stopped by a closure of the stock markets. They cease the trading until some time has passed, and this is a forerunner of what is to come.
- ZetaTalk Financial Freeze, written Dec 15, 1999
After the housing bubble burst in the summer of 2007, the first evidence that this was afoot hit the press.
- Transfer Limits have Potential to Block run on Bank
Nov 17, 2007
- Most funds coming in and out of banks today go by ITT bank wire system. The funds, when confirmed as received, are immediately good money. This clearly restricts such transfers in my opinion. Up to now bank wires have never had a limit in or out of a major institution. Without relying on the above account agreement, or the above institution, my read on this is to put in place a tool to prevent an electronic run on an institution such as the one which recently occurred in Great Britain. If you have $1,000,000 in such an account and such an agreement governs it, it would take you 100 months to withdraw the funds.
- Annual Purchase Limit For Savings Bonds Set at $5,000
December 3, 2007
- The annual limitation on purchases of United States Savings Bonds will be set at $5,000 per Social Security Number, effective January 1, 2008. The limit applies separately to Series EE and Series I savings bonds, and separately to bonds issued in paper or electronic form. Under the new rules, an individual can buy a maximum of $5,000 worth of electronic and paper bonds of each series in a single calendar year, or a total of $20,000, in single ownership form. If paper bonds are issued in co-ownership form, the limit applies to the first-named co-owner. All limits are based on the issue price of the securities.
- Trouble Indicator?
December 18, 2007
- Citibank and other money center banks have imposed limits on customer's abilities to use free IIS (inter-institutional) wire transfers of more than $2,500 per month for overnight wires, and no more than $10,000 per month for 3-day wires.
- Travelers Cheques & Foreign Currency
December 15, 2007
- There is a maximum order size of $1000.00 that can be purchased within a 14-day period.