Posted on 08/12/2014 12:03:46 PM PDT by PapaNew
With no explanation, Brian Brookman last month lost the bank account for his pawn shop.
He had no idea why. Brookman says his store in Grand Haven, Mich., never had been in trouble with federal or state officials. And being in the pawn industry, he was required by law to get a city license every year.
“If there was ever a problem, they wouldn’t renew my license,” Brookman, a former police officer and Army veteran, told The Daily Signal.
After researching his case on the Internet, Brookman says he concluded that his banker, JP Morgan Chase, closed the account because two of his business activities — dealing in vintage coins and selling firearms — were labeled “high risk” by federal bureaucrats as part of an Obama administration initiative called Operation Choke Point.
Critics say Operation Choke Point, so dubbed by Department of Justice officials, seeks to weed out businesses that the White House considers objectionable.
The Justice Department contends the goal of the program is to combat unlawful mass-market consumer fraud, although recent evidence suggests otherwise.
A House report indicates that a primary target of Operation Choke Point is the short-term lending industry. A more expansive list of out of favor, non-financial businesses includes certain ammunition merchants, coin dealers, home-based charities, and sellers of pharmaceutical drugs – also lawful enterprises.
Alden Abbott, the Rumpel senior legal fellow at The Heritage Foundation, describes how Operation Choke Point works: Banks receive notifications from federal regulators, including the Federal Deposit Insurance Corporation (the agency responsible for insuring bank deposits), that the government considers certain types of businesses “high risk.” Banks then are pressured, though the implied threat of government investigations, to sever ties with customers engaged in those enterprises.
(Excerpt) Read more at dailysignal.com ...
Otherwise this monster will gut/cut us. It's up to us.
“Obama’s Secret Choke Point” ain`t no secret.
Well, the operation is certainly secretive and stealth and snatches business owners like these by surprise. If people don’t wake up and kill this beast, they’ll snatch everything you’ve got.
And every time a government involves itself in choosing the winners and losers in business...
In any case, just think of the possibilities, once a conservative President is in office. “Businesses the government finds objectionable...” such as abortion clinics, gay bars, biased media, and the list runs on and on.
Remember Baraq’s “auto task force” and all the Repub dealers that got flushed by Steve “the rat” Rattner?
These business owners definitely have standing to sue the Obama administration for the damages they have suffered to their totally legal businesses.
“Constitutional Law Scholar” says the law shmlaw. He (mostly DoJ underlings dutifully carry out his directive, he's too busy himself) determines what businesses citizens should engage in.
Next, “Operation Choke XXX” determines what recreational activities, occupations, .....(you name it) citizens can engage in.
He must have voted Republican/pro gun and is therefore, Public Enemy #1. Der Fuhrer Obama can’t have that. The Obama Tyranny is becoming a hell for many.
The biggest offender is the U S Government.
vintage coins are a threat?
Meaning, every business too small to use union labor.
I believe a popular gun store in Katy, Texas was also facing closing due to this
Well I just found the article and can’t seem to get it to post - the store is called Tactical Firearms and filed Chapter 11 on the 27th of June because of this very issue of banks denying a thriving business a renewal of their loan. But some investors stepped in and saved them - and on top of that they were able to continue their original plan of opening an ammunitions plant in the area. So glad to hear this
0bama and the totalitarian nut jobs want all transactions to be digital, and all businesses to be multinational corporations. The mark of Beast will shortly follow.
This will just drive these businesses underground and they will plow their money into bitcoin.
Obama’s Criminal Group strikes again
Popular with those eeevil preppers!
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