Posted on 05/28/2014 5:07:39 AM PDT by marktwain
Here is a list of businesses claimed to have been targeted with operation "Choke Point". The administration characterization of "high risk" seems to translate into "Those I do not like." These "High Risk" merchant categories are listed on an fdic.gov site:
|
|
According to The Hill, the DOJ encourages banks and third party payment processors to drop these high-risk clients by “flooding payments companies that provide processing service to those industries with subpoenas, civil investigative demands, and other burdensome and costly legal demands.” The American Banker reveals, in their timeline of Operation Choke Point, that the subpoena flood started shortly after Operation Choke Point’s inception in March 2013. The subpoenas went to banks and payment processors large and small: Everything from the $343 million-endowed National Bank of California to the $220 billion-endowed PNC Financial Services Group. By fall of 2013, the Justice Department had pressured some banks into settling with the government. The DOJ used these settlements as a template to further strongarm other banks into compliance. The DOJ is targeting 30 high-risk industries, as labeled by the Federal Deposit Insurance Corporation (FDIC) in 2011, in a report titled “Managing Risks in Third-Party Payment Processor Relationships.”The article goes on to tout BitCoins, a digital currency, as a way to work around these regulatory intimidation tactics.
In late communism, there are no legal businesses that are disapproved of. They have all been outlawed/destroyed.
/johnny
Really? "Others will be astonished..." They couldn't see this coming?
Lifetime memberships? NRA?
Unless EinReich WithHolder targets them, of course.
/johnny
Coin dealers???
Because the feds don’t want people trading in their fiat for silver and gold.
The problem with BitCoin is not how to use it but with whom to do business. There aren’t many merchants who take BitCoin at this time, but these sorts of shenanigans might guarantee that more will pop up.
Well, you know what happens when businesses turn to cash sales. A lot of their sales then go unreported. The mafia and drug industries have been doing that for decades.
Eric, be careful what you ask for. You might just get it!
Apply pressure to regulated banks to choke off funds to legal businesses that you disapprove of. Classic fascism/authoritarianism/early communism.
In late communism, there are no legal businesses that are disapproved of. They have all been outlawed/destroyed.
Well said – and almost exactly what my comments were to be….
A classic case of tyranny in its most evil form.
Meanwhile, the purveyors of this evil still like to put on airs as champions of Liberty with their label of Liberal…
Somebody needs to start
Sleazy Bank Co LLC
Just try to smear that!
Somebody should start providing banking services catering to the pron industry, gun shops, ammo dealers, coin sellers, etc. Anybody on the DOJ “Naughty List” would be a favored customer.
Then when the government comes after you and tries to give you a bad reputation, you can just say, “Why yes, we are Sleazy Bank LLC. By the way, anybody operating a business at the fringes of decent society who needs credit card processing, our toll free number is 1-800-SLEAZY1”. If these businesses cannot get services from any other provider, you can charge a healthy premium.
This is some of the “change” the majority of those that voted said, via their votes, on November 4, 2008 they wanted. In November 2012, the electorate restated that was their wish.
And they have the force known as the “law” behind them.
A lot of the businesses around me are cash only. I love it. I love when a guy takes my money, opens the register, drops it in, and closes the door. No receipt. No nothin’. The transaction never took place.
It doesn’t take a rocket scientist to figure out that is a “non-government-involvement” sale. :-)
I spar with liberals a lot on the internet. I noticed something very interesting with their attitudes toward Obama. In 2008, they LOVED him and could not wait to vote for him. It was truly amazing.
But I noticed, by 2011, a lot of them were complaining about him. Yes, the same guys I’d been sparring with in 2008. But guess what? They still voted for him in 2012. The reason? The same reason so many of us voted for McCain in 2008. It wasn’t a vote for our guy. It was a vote against the other guy. Their excuse was that Romney was just so incredibly bad that they had no choice but to vote for Obama.
And they have the force known as the “law” behind them.
I pay taxes to the state for police protection and I pay “protection money” to the mob. At least I actually get something for my money in the latter case.
Cracked me up.
The next scumbag politician that says they are for guns and the second amendment like they say they are for the troops but not the mission should be gabby Gifford.
Yup. Having witnessed communes in the late 60's, all enterprise was destroyed within those hippie utopias. They practiced Marxism, "From each according to his ability, to each according to his need". That didn't work then and will never work.
Here is the reason from first hand experience that communism will never work:
Not all people in a commune worked as hard as others (saw it). It's an inherent trait in humans as we see today. The productive commune folks started getting pissed that others were not carrying their communal weight, but still reaping the same rewards/lifestyle as the producers. The producers finally got fed up and left, and all you had left was the "gimmes". That is why you rarely see a commune today, other than blood family.
The Soviet Union is another example of trying to control from top to bottom. Cuba only works because it is more of a dictatorship. If given the choice, the so-called revolution would self-destruct and Cuba would become the next Caribbean paradise.
Communism exists against all human endeavors. It is an un-natural system that punishes the producers so even the non-producers can be on the same level of lifestyle. Socialism is the same, except it doesn't start from the top. It allows capitalism, but then attempts to re-distribute the benefits from capitalism to those who do much less or nothing at all.
Both are failed economic systems and history and current events in Europe have proven it. Yes, some capitalists take advantage and are corrupt - think Enron. However, most capitalists provide jobs and opportunity. I am a capitalist and owned 3 small companies and provided jobs, decent pay, and benefits - and still made a profit for the risks I took. I'm not rich, but made a good retirement because I took those risks, and others benefited from such.
This nation was founded on capitalism and we became the greatest most advanced nation in the world because of that economic philosophy. Now, we have a centralized federal government that increasingly takes from the producers to give to the "gimmes". We are self-destructing from our own original system.
He was that bad. McCain and Romney were both evil. McCain would have us at war all over the world. Romney was a big government control freak. Millions of conservatives said no sale to both.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.