WOW, HOW DO YA LIKE YOUR GOVERNMENT EMPLOYEES NOW! Operation Im the dictator by Obama! A MUST READ Larry Operation Chokepoint Closes Lending for “Undesirable Businesses” By Bob Irish | July 2nd, 2014 President Obama partners with Attorney General Eric Holder to crack down on gun sellers and other businesses deemed high risk. Bob Irish is a contributor to the Money Report More PALM BEACH, Fla.—If you sell guns, coins, or any other product the FED doesnt like, the message is clear: The government now has the right to restrict financial institutions from lending to you. Sound unconstitutional? Well... It’s technically not a law… but that doesnt matter… According to Obama’s Financial Fraud Enforcement Task Force, this “initiative”—known as “Operation Chokepoint”—is being front-lined “on behalf of the American people.” Already, thousands of banks are cutting ties with “undesirable” businesses in what California Representative Darrell Isa calls “The Justice Department’s newest abuse of power.” Mark Cohen, a gun seller in Massachusetts, explains: Our loan was turned [down] not because of our credit—We had perfect financials and [had] been working with the same bank manager for 20 years. It was just because we sell guns—and they said that to us specifically. Unfortunately, Cohen’s case isnt the exception. It’s the new norm… Since federal attorney Michael Bresnik introduced the initiative last March, The Justice Department has sent hundreds of subpoenas warning banks and payment processors that they will be severely fined if caught financing businesses like Cohen’s. As a result, banks are now on a government crusade to cut ties with these businesses as quickly as possible. In January 2014, Bresnik “choked” his first victim… not a gun seller or coin dealer… but an $809 million-asset Four Oaks Bank in North Carolina. The Fine: $1.2 million. The Crime: Working with a payday lender. In short, Four Oaks Bank is now the poster child of the government’s new relationship with finance. Finance someone the government doesnt like? You will be run out. Produce a product the government doesnt like? You will be “choked” out. It’s scary but true… However, a forward-looking research firm in Palm Beach (Florida) has discovered a clever way for businesses and individuals to bank and grow their wealth, without government involvement. It’s a strategy that The Wall Street Journal calls “a tax shelter for the rich”… and it’s not only legal… but it’s also a strategy almost anyone in America can use to grow their wealth (whether they’re rich or not). In short, it’s revolutionizing the way Americans bank. For more information, click here to launch the full presentation on this account...
Posted on: Wed, 02 Jul 2014 23:27:08 +0000
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