You have commented 358 times on Rantburg.

Your Name
Your e-mail (optional)
Website (optional)
My Original Nic        Pic-a-Nic        Sorry. Comments have been closed on this article.
Bold Italic Underline Strike Bullet Blockquote Small Big Link Squish Foto Photo
Submit your comments on this article
Government Corruption
How Democrats ''debanked'' political opponents in shocking attack on American freedoms
2024-12-07
[NYPOST] President Biden has overseen nearly four years of a two-tiered justice system, as his pardoning of Hunter Biden and the political persecutions of then-candidate Donald Trump
...Never got invited to a P.Diddy party...
 make all too clear.

But there have been quieter attacks on justice, like ''debanking'' — and few people realize they could be the next victims because they are a ''politically exposed person,'' that is someone who disagrees with the liberal status quo.

Debanking is a kind of financial blackballing that has appeared within just the last 20 years.

It started under then-President Barack Obama
How much damage could he do in four years?... Eight, then...
as a war to punish those seen as political enemies, like firearm manufacturers. Government documents unsealed at the end of 2020 proved that the federal government used its regulatory authority over financial markets to attack political opponents.

Government regulators essentially make it impossible for certain people or businesses to make online transactions, or to have a bank account or a credit card.

Dr. Joseph Mercola, a critic of the COVID vaccine, found his business accounts shut down by JP Morgan Chase, a move his chief financial officer claimed was at the same time Mercola spoke out against the Food and Drug Administration.

In her new memoir, Melania Trump says her bank account was terminated after the riots of Jan. 6, 2021, and her son Barron was unable to open his own account. She called it ''political discrimination.''

In the modern world, exclusion from electronic financial services is an economic death sentence
...the barbaric practice of sentencing a murderer to be punished for as long as his/her/its victim is dead...
Regulators will claim that they're not technically forbidding a private bank from doing business with an individual, and that the bank is freely choosing not to have that person as a customer.

But the reality is very different — because of the undue influence and control in the hands of today's bloated administrative state.

A bureaucrat can make someone's life so difficult that the victim is forced to comply — the government strong-arming a private individual or institution into doing what the government itself cannot do by law.

It's like when the Biden administration pressured social-media companies into deplatforming anyone who questioned political talking points about the COVID pandemic.

The debanking scourge under President Biden has hit the crypto world particularly hard. The Securities and Exchange Commission has unleashed a plague of investigations, some real and some merely threatened, to force innovators and investors out of that space.

Dozens of tech and crypto founders have been debanked under Biden, and their inventions smothered.

On Joe Rogan's podcast, venture capitalist Marc Andreessen blamed the Consumer Financial Protection Bureau, a group set up at the behest of Sen. Elizabeth Being Native American has been part of my story since the day I was born Warren
...The Great White Squaw, Lizzie is the Dem Senatrix from Massachussetts. She traces her noble lineage all the way back to Big Chief Spouting Bull. She has high cheekbones that stretch all the way to the top of her head. It has been alleged that she speaks with forked tongue but she denies that. She had a DNA test to prove her lineage and it turns out she's colorless...
 (D-Mass.) to go after crypto firms in particular.

''Basically every crypto founder, every crypto startup, either got debanked personally and forced out of the industry, or their company got debanked,'' Andreessen said.

Andreessen added that others, like Kanye West, have been debanked, ''For having the wrong politics. For saying unacceptable things. Under current banking regulations, after all the reforms of the last 20 years, there's now a category called a politically exposed person, PEP. And if you are a PEP, you are required by financial regulators to kick them off, to kick them out of your bank.''

President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, has pointed out that many Democrats
...every time you hear the phrase white people, white supremacy, white anything but paint, you're listening to a Democrat. Ask him/her/it to reimagine something for you; they do that a lot, though not well. They can hear a dog whistle a mile or two away. They invented the spoils system and Tammany Hall, and inspired the addition of the word (Thomas) Nasty to the English language. They want to stop continental drift and repeal the law of unintended side effects...
 have been on an anti-crypto crusade as they attempt to wash off the stink of FTX and Sam Bankman Fried — the crypto scammer and fraud who gave massive campaign donations to Democratic politicians.

The problem goes far beyond crypto or the tech industry, however. And it's bigger than just the Biden administration, which uses surrogates like the Southern Poverty Law Center to fallaciously label any conservative institution a ''hate group.'' Doing business with a group that engages in ''hate'' can get a financial institution dinged by regulators for increased ''reputational risk.''

What does that have to do with a creditor's ability to repay a loan or the solvency of a bank or the worth of an individual's assets? Nothing. The radical left's push to debank anyone with whom they disagree has nothing to do with sound financial principles — it's all politics.

Anyone who appreciates freedom and the rule of law should be supremely grateful that the incoming president has put the babus bureaucrats on notice: Their days of covertly forcing political compliance are numbered.
Related:
President Biden 12/05/2024 Pardons for all the PERPS
President Biden 12/04/2024 'Where Is President Biden?' 'There's a Lot Going On in the World'
President Biden 12/04/2024 Hunter Biden's Pardon Is All About Protecting Joe Biden, Not His Son

Related:
Hunter Biden 12/04/2024 'Where Is President Biden?' 'There's a Lot Going On in the World'
Hunter Biden 12/04/2024 Ceasefire in Lebanon Is Stopgap Until Trump Takes Over, Israelis Say
Hunter Biden 12/03/2024 Behold the Hundreds of Crimes for Which Hunter Biden Just Got Pardoned

Related:
Barack Obama 12/05/2024 RUMINT? Obama Named As First World Leader To Be Prosecuted in Diddy Pedophile Investigation
Barack Obama 12/04/2024 Countering sympathy toward Hamas: The befuddling Jewish teen phenomenon
Barack Obama 12/04/2024 Ceasefire in Lebanon Is Stopgap Until Trump Takes Over, Israelis Say

Related:
JP Morgan Chase: 2024-03-04 Could April 8 Be a Day of Terror and the Start of Financial Endgame?
JP Morgan Chase: 2024-01-07 Get ready to spend two years in prison (small business owners)
JP Morgan Chase: 2023-07-01 Dead JP Morgan Executive, Reportedly Vowed To Expose Biden Crimes
Related:
Melania Trump 11/14/2024 FBI seizes Polymarket's equipment and databases after they correctly predicted the election!
Melania Trump 11/12/2024 Melania Trump declines to meet with Jill Biden at White House, citing Mar-a-Lago raid: source
Melania Trump 09/18/2024 Chris Cuomo calls Trump, says he's 'ashamed' of how media is blaming him for second assassination attempt

Related:
Joe Rogan 12/05/2024 A DOJ Prosecutor Targeting a Transgender Medicine Whistleblower Was Just Taken Off the Case
Joe Rogan 11/30/2024 Tech Billionaire Tells Joe Rogan the Govt. Plan ‘to Control AI' is Why He Left WH Meeting, Endorsed Trump
Joe Rogan 11/27/2024 Joe Rogan exposes why he will never move to Australia

Related:
Marc Andreessen 11/30/2024 Tech Billionaire Tells Joe Rogan the Govt. Plan ‘to Control AI' is Why He Left WH Meeting, Endorsed Trump
Marc Andreessen 08/29/2023 Silicon Valley titans behind mystery $1B land buy near California military base: reports
Marc Andreessen 06/17/2020 Pompeo maintained secret advisory board at CIA, and the House subcommittee wants answers

Related:
Consumer Financial Protection Bureau: 2024-03-09 Obama-Biden Administration Was is Creeping Fascism
Consumer Financial Protection Bureau: 2023-10-12 Biden proposes a ban on 'junk fees' ‐ from concert tickets to hotel rooms
Consumer Financial Protection Bureau: 2020-06-30 Supreme Court rules Trump has unfettered power to fire officials
Related:
Elizabeth Being Native American has been part of my story since the day I was born Warren 11/21/2024 30% of Senate Democrats have voted in favor of an arms embargo to Israel.
Elizabeth Being Native American has been part of my story since the day I was born Warren 11/19/2024 US Senate to consider dead-in-the-water measures to block weapons sales to Israel
Elizabeth Being Native American has been part of my story since the day I was born Warren 05/15/2024 US fails to compensate victims of drone strikes in Somalia

Related:
Kanye West 11/17/2024 We Can All Thank Don, Jr.
Kanye West 11/08/2024 It Wasn't Just Kamala - a Look at Who and What Else Lost in Tuesday's Election
Kanye West 06/23/2024 Bianca Censori 'signaling rebellion' after Kim Kardashian's support: Report

Related:
Scott Bessent 11/25/2024 Janet Yellen exiting office, leaving mess behind for Trump team
Scott Bessent 11/23/2024 Trump names hedge fund manager Scott Bessent as his nominee to head US Treasury, and 8 more proposals
Scott Bessent 11/09/2024 Trump asks Robert Lighthizer to return as US trade representative

Related:
Sam Bankman Fried 11/03/2023 Sam Bankman-Fried convicted on all charges
Sam Bankman Fried 11/03/2023 Sam Bankman-Fried convicted of $10 billion fraud as his parents look on in tears, capping crypto king's epic fall
Sam Bankman Fried 10/17/2023 Who funds Hamas?

Related:
Southern Poverty Law Center: 2024-11-03 Georgia election officials sued for failing to mail absentee ballots on time,
Southern Poverty Law Center: 2024-09-24 Haitian militia is reportedly forming in Springfield, Ohio Black Hebrew Israelites march through Springfield, Oh three days ago
Southern Poverty Law Center: 2024-09-17 Proud Boys descend on Springfield as debate over 'migrants eating pets' in the small Ohio town
Posted by:Fred

#5  ...don't leave out the credit card cartel.
Posted by: Procopius2k   2024-12-07 10:26  

#4  I was astounded when Trudeau did this during the trucker convoy and protests. I would like to see legislation that precludes the government from encouraging de banking of an individual, group or class. Mandating that banks approves accounts and loans for everyone lead to a large housing bubble.
Posted by: Super Hose   2024-12-07 10:25  

#3  Banks and insurance companies, there's a reason so many people hate them.
Posted by: Besoeker   2024-12-07 07:46  

#2  FTX

That would be the entity that Yellen bailed out the (connected) investors with our money without any legal basis to do so.
Posted by: Procopius2k   2024-12-07 07:44  

#1  Banks should be smacked hard for this - loudly and publicly remove FDIC protection so that everyone that has money in them will flee to reputable institutions. Public hearings as to who asked the banks to do it and fire them all
Posted by: Frank G   2024-12-07 00:07  

00:00