Posts Tagged ‘CHASE’

Debit cards: $50 spending limit coming?

March 11, 2011 Comments off

Debit card limit By Blake Ellis, staff reporterMarch 10, 2011: 10:09 AM ET

NEW YORK (CNNMoney) — Declined! Your debit card may soon be denied for purchases greater than $100 — or even as little as $50.

JPMorgan Chase, one of the nation’s largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.

Why? Because of a tricky thing called interchange fees.

Right now, every time you swipe your debit card, your bank charges the retailer an average fee of 44 cents, which it shares with its partners. Those little fees, however, add up to about $16 billion per year, according to 2009 data from the Federal Reserve.

But as part of the Wall Street reform legislation that was passed last year, these fees are being slashed. The Fed is currently proposing rules that would go into effect in July and would cap interchange fees at 12 cents.

That’s a big enough cut to cost Read more…

Silver Reaches New 30-Year High!

February 19, 2011 Comments off

Silver reached a new 30-year high today of $32.87 per ounce up 89% since NIA declared silver the best investment for the next decade on December 11th of 2009 at $17.40 per ounce!

The gold/silver ratio is now down to below 43. NIA predicted a sharp decline in the gold/silver ratio both in its top 10 predictions for 2010 at 64 and in its top 10 predictions for 2011 at 46. We believe the gold/silver ratio will decline to at least 16 within the next few years, but it could decline to as low as 10. It wouldn’t surprise us to see gold reach $5,000 per ounce in 2015 and silver reach $500 per ounce at the same time!

NIA’s President Gerard Adams publicly exposed JP Morgan’s silver naked short selling price suppression scheme in Read more…


December 26, 2010 Comments off