Slashdot Mirror

there must have been something off on my search. But Chase's policy is insane in any case. As I said before, if you are with Chase or any other TARP baby, consider moving your money.

and where to find them.

IAABG (I am a banking geek).

The rules for provisional credit on debit cards is very well established. They fall under Regulation E, section 205.11. The bank has ten days to get you a provisional refund, and can take up to 45 days in certain circumstances to complete their investigation and finalize the credit.

Make sure you get them a notice in writing! Once you do, they have ten days to credit you, and many banks will do it much faster. If the bank drags their feet, just tell them "I want provisional credit within the mandated timeline per Regualtion E".

Here's more on this topic:
http://www.bankersonline.com/technology/guru2008/gurus_tech022508c.html
http://usa.visa.com/personal/security/visa_security_program/zero_liability.html
http://finsolinc.com/Reg%20E%20EFTA%20Error%20Resolution%20Flowchart.pdf

The protection for misuse of debit cards is strong, you just need to know what to do. If your bank isn't responsive, Move Your Money to a smaller institution that cares.

Move your money to a community bank or credit union. Not only will you get better service, but you'll be letting these large banks (many of which the US tax payers recently bailed out) know that their lack of customer service and other abusive practices wont be tolerated.

The solution is for everyone to pull money out of Chase bank and cancel their accounts. Granted, like any boycott is may not be very effective, but that's about all the individual can do. See the website move your money for more information http://moveyourmoney.info/

You do that and they'll blame it on piracy and ask for another bailout.

The solution is for everyone to pull money out of Chase bank and cancel their accounts. Granted, like any boycott is may not be very effective, but that's about all the individual can do. See the website move your money for more information http://moveyourmoney.info/

Most people do not understand the thing; therefore, I'd say its not so simple.

But it was indirectly tangible - the cash and numbers are virtual but they represented REAL tangible assets. The money was itself was always a symbolic representation but the meaning behind it WAS tangible until we got off gold.

Accounting was possible with something tangible. Now, its purely virtual with just 1 authority (for US dollars) doing the accounting.

In a way, it was similar to gold, because generally speaking the accounting for the gold was a hidden trust-based system because nations were sometimes cooking their books. They couldn't allow a real accounting for the gold backing they claimed to have when it wasn't there because that would cause a devaluation of their money. While similar, it is not the same because there was a possible fall back position of a tangible object. Its like a written contract vs a handshake.

The FED doesn't have to account for the gold; yet there is enough to hide that we can't ever get a real accounting of what they have been doing.

We didn't realize this system could be fundamentally altered - it was a necessity because we were cooking the books and didn't have the gold backing. The situation was forced during Nixon and his way out of the mess was to say "it no longer matters we don't care about gold anymore" while making deals with OPEC so that the dollar wouldn't be devalued by making the world buy oil in US dollars. In a way, we moved to OIL from gold but even that is not that simple either.

We don't really need that middle eastern oil as much as people think; we get most our oil from our own hemisphere. Its about our currency more than their oil.

What should really piss people off is that the FED hands out (with gov backing) the "cheatcode" to corps to get free money - to "banks" of their choosing. Its a bailout all the time-- the more money they create the less value yours has; its a TAX on everybody so the banksters can profit from your money without you having anything you can do about it. This is why a tangible backing was beneficial; it was a CAP on this kind of behavior (although it still happened in a different way but it wasn't as bad or as easy.)

http://moveyourmoney.info/

-

Game money needs some level of scarcity to work just like how the FED does it; it will have issues yet to be seen-- such as games where users can buy money for the game and then have it devalued or lost in hacks/bugs etc.