Category: Banking/Currency

Trump Attorney Debanked by Bank of America & USAA with Dr. John Eastman

Tonight IN FOCUS... Another week, another major win - for the Democrats - as the House GOP betrays Americans yet again. Also why is famed Attorney John Eastman being "unpersoned" - and who's next? Plus FBI Director Christopher Wray recently warned of a cyber attack on U.S. infrastructure by China -- but when is the last time any of these characters told us the truth? And perhaps all hope is not lost on the wicked as a noticeable shift has been emerging within the public sphere -- Kevin Sorbo joins the discussion.

Why Are Banks And Retailers Closing Thousands of Branches?

VIDEO PLAYS ON YOUTUBE ONLY

SEE: https://www.youtube.com/watch?v=PuFUufLjKFM

Why Are Banks and Retailers Closing Thousands of Branches? In today's rapidly changing economic landscape, the impact of various factors such as inflation, bank closures, and business shutdowns cannot be overstated. The economy is facing unprecedented challenges, with repercussions that extend far beyond the financial sector. As bank closures and retailers shutter thousands of stores, questions about the future of our money and the stability of our businesses loom large. The year 2024 has brought with it a wave of uncertainty, with headlines dominated by news of bank crises and business collapses. The implications of these developments ripple through every aspect of our lives, from the way we manage our finances to the prices we pay for everyday goods. It's a stark reminder of the interconnectedness of the global economy and the fragility of our financial systems. Amidst this backdrop of turmoil, discussions about the root causes of these challenges are paramount. Inflation has emerged as a key driver, eroding the purchasing power of consumers and placing strain on businesses already grappling with rising costs. The cost of living crisis is no longer a distant concern but a harsh reality for many households. The domino effect of bank closures further exacerbates these issues, as communities are left underserved and individuals are left without access to essential financial services. The bank collapse of 2024 has sent shockwaves through the finance industry, prompting reflection on the systemic vulnerabilities that have led us to this point. At the intersection of politics and the economy, tough decisions must be made to navigate these turbulent waters. The repercussions of bank shutdowns and business closures extend far beyond the balance sheets, shaping the social and political landscape in profound ways. While the video aims to shed light on these pressing issues, it is only the beginning of a much larger conversation. The complexities of the economy defy simple explanations, and the solutions to our current challenges will require collaboration and innovation on a global scale. As we delve into the intricacies of finance and the dynamics of business, let us remember that each data point represents real people and real communities grappling with uncertainty and hardship. If you find this video informative and thought-provoking, please give it a thumbs up and consider subscribing to our channel for more captivating content. Don't forget to hit the notification bell to stay updated with our latest videos. Share this video with your friends and family who may find it interesting. Keep watching to see economy, bank crisis, inflation, finances, cost of living, business shutdown.

The Fed Now Admits Banks Are At Risk, Major Crisis Unfolding As We Speak

Decades of growth fueled by low interest rates and easy credit have come to an abrupt halt. With a staggering 2.7 trillion dollars in commercial real estate loans held by U.S. banks, predominantly managed by smaller regional institutions accounting for approximately 80 per cent of the total, concerns are mounting regarding their resilience in the face of impending challenges. According to analysts at Goldman Sachs, a significant portion of this debt is slated to mature, with over 2.2 trillion dollars due by the close of 2027. These apprehensions were further heightened following the unexpected loss of 252 million dollars reported by New York Community Bancorp in the last quarter, a stark departure from the 172 million dollars profit recorded in the fourth quarter of 2022. The company attributed this downturn to a notable surge in loan losses, particularly in the realm of commercial real estate financing. The repercussions of this concerning trend reverberated through the financial markets, as evidenced by a significant decline in the bank's shares, plummeting nearly 50 per cent over the past five trading sessions. Concurrently, the U.S. Regional Bank index experienced a notable 7 per cent drop during the same period. Investors find themselves grappling with a familiar sense of unease as apprehensions mount over the looming specter of a crisis in the 20 trillion-dollar commercial real estate market. Unlike previous downturns centered around interest rate volatility, the current turmoil stems from fundamental challenges ingrained within the industry. Decades of growth fueled by accommodative monetary policies and accessible credit have ground to a halt, with office and retail property valuations embarking on a downward trajectory since the onset of the pandemic. The U.S. Federal Reserve's efforts to curb inflation through interest rate hikes have further compounded the sector's woes, particularly impacting its credit-dependent nature.

HERE WE GO: Fed Chair Powell Declares Certain Banks Must Go Amidst Commercial Real Estate Downturn

Is the regional bank crisis ending or just starting? Recent developments, such as the sharp decline in New York Community Bancorp's stock from commercial real estate losses, signal potential trouble. With $500 billion in debt maturing this year and falling property values, small banks are bracing for a crisis.

The Next Great Recession Has Already Begun In Commercial Real Estate

Biden Admin Instructed Banks to Target Trump Supporters Without Due Process

MATT MARGOLIS | 10:54 AM ON JANUARY 18, 2024
AP Photo/Nati Harnik, File
It’s bad enough that the Biden administration targeted pro-lifers and treated concerned parents who spoke out at school board meetings as domestic terrorists. But according to documents acquired by the Select Subcommittee on the Weaponization of the Federal Government, the Biden administration also directed banks to scrutinize customer data for transactions containing terms such as "TRUMP" or “MAGA,” without legal justification or due process. 

House Judiciary Chair Jim Jordan (R-Ohio) revealed these shocking details in a letter requesting an interview with Noah Bishoff, the former director of the Office of Stakeholder Integration and Engagement in the Strategic Operations Division of the Financial Crimes Enforcement Network (FinCEN).

"The Committee and Select Subcommittee have obtained documents indicating that following January 6, 2021, FinCEN distributed materials to financial institutions that, among other things, outline the ‘typologies' of various persons of interest and provide financial institutions with suggested search terms and Merchant Category Codes (MCCs) for identifying transactions on behalf of federal law enforcement," Jordan wrote. "These materials included a document recommending the use of generic terms like ‘TRUMP' and ‘MAGA' to 'search Zelle payment messages' as well as a 'prior FinCEN analysis' of 'Lone Actor/Homegrown Violent Extremism Indicators.’"

Related: Trump Isn’t the Only Republican That Dems Are Trying to Boot Off Ballots

“According to this analysis, FinCEN warned financial institutions of ‘extremism’ indicators that include ‘transportation charges, such as bus tickets, rental cars, or plane tickets, for travel to areas with no apparent purpose,’ or ‘the purchase of books (including religious texts) and subscriptions to other media containing extremist views.’ In other words, FinCEN urged large financial institutions to comb through the private transactions of their customers for suspicious charges on the basis of protected political and religious expression,” Jordan’s letter continued.

The Weaponization Committee also discovered that FinCEN distributed slides prepared by KeyBank, a regional bank based in Cleveland, Ohio, that explained how banks could use certain merchant category codes (MCCs) and keywords to potentially detect mass shooters, domestic terrorists, and homegrown violent extremists. Those keywords include gun manufacturers, but also sporting goods stores like “Cabela’s,” “Bass Pro Shops,” “Dick’s Sporting Goods,” and “Gander Mountain."

“Despite these transactions having no apparent criminal nexus — and, in fact, relate to Americans exercising their Second Amendment rights — FinCEN seems to have adopted a characterization of these Americans as potential threat actors. This kind of pervasive financial surveillance, carried out in coordination with and at the request of federal law enforcement, into Americans’ private transactions is alarming and raises serious doubts about FinCEN’s respect for fundamental civil liberties,” Jordan wrote before explaining to Bishop that he would be called in to testify before Congress.

For our VIPs: The Left Would Destroy the Constitution to ‘Save Our Democracy’

“Your testimony will help to inform the Committee and Select Subcommittee about federal law enforcement's mass accumulation and use of Americans' private information without legal process; FinCEN's protocols, if any, to safeguard Americans' privacy and constitutional rights in the receipt and use of such information; and FinCEN's general engagement with the private sector on law-enforcement matters,” Jordan wrote. 

‘No Apologies’ From ‘Weaponized’ Banks Canceling Faith Groups~FOR EXAMPLE: BANK OF AMERICA, J.P. MORGAN CHASE, BLACKROCK, WELLS FARGO

An increasing number of Christian and conservative organizations say they're being 'de-banked.' Accounts are closed, payment processors are turned off, or some are placed on a donor 'blacklist.' Banking and financial services have become weaponized. Christian and conservative groups labeled 'high risk' can be denied financial services, and it's happening under the cover of federal banking laws. Among the victims? Indigenous Advance Ministries, which helps orphans and widows in Africa. Its account was closed by Bank of America. Read the full story from CBN's Dale Hurd: https://cmsedit.cbn.com/cbnnews/us/20...

Conservative Event Cancelled Due To Payment Processor HALTING Funds

John Sabal, the founder and President of The Patriot Voice, is a disabled, Navy veteran who has filed a $18M lawsuit against the payment processing giant Total System Services Inc. (TSYS) after they withdrew their services claiming The Patriot Voice Events were racist. [https://thepatriotvoice.us/](https://thepatriotvoice.us/) Paul Davis, Managing Attorney at Paul M. Davis & Associates, P.C. is representing John Sabal and The Patriot Voice. Find John Sabal on X - @TPV_John, Truth - @ThePatriotVoice and on Instagram @tpvjohn Find Paul Davis at @fireduptxlawyer

SEE: https://www.tsys.com/

 

These Global Organizations Want to Control You

These Global Organizations Want to Control You

  • By Ben Shapiro
  • Published August 21, 2023
  • https://thevaccinereaction.org/2023/08/these-global-organizations-want-to-control-you/; Republished below in full unedited for informational, educational, & research purposes.

There’s a group of people who control what you are allowed to see, what you read, what you watch, the posts you engage with. You haven’t heard of them, you don’t know their names. But they determine, through methods both direct and indirect, whether you are allowed to be exposed to particular messages. Their decisions can bankrupt companies, silence voices and fundamentally shift cultural norms. Who are these people and how do they do this? Well, at the top level you have a network of global elite and its creed… a universal framework full of guidelines and ratings designed to enforce approved narratives and punish disapproved ones.

Bank of America ordered to pay $250 million for fake accounts, junk fees and withheld credit-card rewards

Wells Fargo paid out billions for similar practices

BY STEVE GELSI

SEE: https://www.marketwatch.com/story/bank-of-america-ordered-to-pay-250-mln-for-fake-accounts-junk-fees-and-withholding-credit-card-rewards;

Republished below in full unedited for informational, educational, & research purposes.

The Consumer Financial Protection Bureau said Tuesday that Bank of America Corp. would pay a total of $250 million for illegally charging junk fees, withholding credit-card rewards, and opening fake accounts.

The bank BAC, +1.26% will pay more than $100 million to consumers who were harmed by these activities. The Office of the Comptroller of the Currency said the bank’s “double-dipping on fees” was illegal.

Bank of America will pay penalties of $90 million to the CFPB and $60 million to the OCC.

“Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent,” said CFPB Director Rohit Chopra. “These practices are illegal and undermine customer trust. The CFPB will be putting an end to these practices across the banking system.”

A Bank of America spokesperson said: “We voluntarily reduced overdraft fees and eliminated all nonsufficient-fund fees in the first half of 2022. As a result of these industry-leading changes, revenue from these fees has dropped more than 90%.”

The spokesperson was referring to a Jan. 11, 2022, announcement about Bank of America reducing its overdraft fees and eliminating nonsufficient-fund fees.

Bank of America’s stock was up 1% in regular trades.

The moves come amid a crackdown by the Biden administration against junk fees.

In December, Wells Fargo & Co. WFC, +0.99% agreed to pay $3.7 billion for wrongdoing and mismanagement, including more than than $2 billion in redress to consumers.

The CFPB said that Wells Fargo had harmed millions of people through wrongful car repossessions, improper denials of mortgage-loan modifications, and surprise overdraft fees that were charged to consumers who in fact had enough funds in their accounts at the time of their transactions.

Eric Schiffer, the chair of the Patriarch Organization, a private-equity firm, said the transgressions by Bank of America appear to be more contained than those of Wells Fargo, but that the bank’s reputation with consumers with be hurt.

“It’s a wake-up call for all financial firms to make sure their compliance is in place to protect the most valuable asset you have, which is the relationship with your customers,” Schiffer said. “Cutting fees is a distraction to balance the hit Bank of America just got on trust. The backdrop is consumers are still skeptical about banks because of a pattern of scams like Wells Fargo or banks not having enough assets to cover withdrawals like what happened at SVB [Silicon Valley Bank].”

Separately on Tuesday, William F. Galvin, secretary of the Commonwealth of Massachusetts, ordered Raymond James Financial Services Inc.  RJF, +1.13% to return $8.25 million plus interest to customers who were charged “unreasonably high fees” as part of a settlement, according to a statement.

He also ordered Raymond James to pay $4.2 million in fines and penalties to the six states involved in the probe of the financial firm.

Galvin said an investigation revealed that the broker-dealer had levied “unreasonable commissions” on more than 270,000 equity transactions since 2018.

The broker had applied a $75 minimum commission regardless of the “reasonableness” of the commission. Raymond James’s stock was up 0.6% in recent trades.

From the archives (December 2022): Wells Fargo ordered to pay $3.7 billion for alleged mismanagement of auto loans, mortgages and deposit accounts

MONICA CROWLEY: What are the dangers of a digital dollar?~A threat to all our freedoms!

‘The Monica Crowley’ podcast host Monica Crowley warns about the push to adopt a digital currency across the western world on ‘Kudlow.’

Media Ignore Bank Records: “Biden Has Been Bought Off by the Chinese Communist Party”

Media Ignore Bank Records: “Biden Has Been Bought Off by the Chinese Communist Party”

BY SELWYN DUKE

SEE: https://thenewamerican.com/media-ignore-bank-records-biden-has-been-bought-off-by-the-chinese-communist-party/;

Republished below in full unedited for informational, educational, & research purposes.

Barack Obama once reportedly said of Joe Biden, the man he worked with for eight years, “Don’t underestimate Joe’s ability to f*** things up.”

We can only imagine how much Biden could mess things up were he compromised via foreign cash payments. But we perhaps don’t have to imagine how much he has messed himself up in taking those payments — because he left a recently uncovered bank-record paper trail a mile long.

The evidence is so profound, mind you, that commentator Thomas Lifson writes, “Joe Biden has been bought off by the Chinese Communist Party.” This doesn’t mean the mainstream media will report on it, though.

In fact, in time most odd, the story about the Biden bank records was followed the very next day by the revelation that Donald Trump might be arrested for an apparently legal non-disclosure-agreement payment. Why, a cynic could almost think that the latter is meant to distract from the former.

Lifson reports on the Biden story:

Thanks to the efforts of [Representative] James Comer [R-Ky.], we already have bank records of $1 million flowing to Biden family members through a cutout named Rob Walker, shortly after Biden left office as VP.

There is no indication of any particular services performed for this treasure, nor is there any expertise among the recipients, who include the current POTUS’s son Hunter, his brother James, Hunter’s mistress-at-the time Hallie Biden (who is also his brother’s widow and Biden’s daughter-in-law) and an entity simply named “Biden.”

Rep. Comer, appearing on Maria Bartiromo’s Sunday Morning Futures program on Fox News, said that this is “only the beginning.” There are “as many as 11 other deals” that are being examined by his committee.

“We’re gonna follow the money. We knew there was a money trail; we’ve spoken to enough people that were involved in the shady business games all around the world,” Comer also told Bartiromo. “Everything that we’ve subpoenaed thus far was accurate from what our whistleblowers were telling us, and we have a whole lot more information.”

The Washington Examiner provides more detail, writing:

The first deal refers to a report released by House Oversight showing Hallie Biden … received $35,000 from accounts tied to Hunter Biden’s associate Rob Walker, including $25,000 that appears to have originated from a Chinese company. The report cited bank records from Walker that were subpoenaed by the committee earlier this year.

The committee’s report showed the Chinese company State Energy HK Limited transferred $3 million to Robinson Walker LLC, an account belonging to Walker, two months after Joe Biden left the White House as vice president in 2017.

Hallie Biden received an initial payment of $10,000 from Walker’s account on Feb. 13, 2017, and another $25,000 on March 20, 2017, according to the report. Lawmakers wrote in the report that “Biden family members and their companies began receiving incremental payments over a period of approximately three months” following the initial payments.

“We don’t know what the Biden’s did in return for this money,” Comer said. “The lawyer said that it was a seed capital for business. We haven’t been able to find a business.”

Lifson points out that a “key moment” came six and a half minutes into Comer’s interview:

“The White House hasn’t been truthful about this from Day One. I don’t think the White House ever dreamed we would get bank records,” the congressman said. “I’ve got bad news for the White House: This is just the beginning. We’re gonna get a lot more bank records and they’re going to have to continue to backpedal and come up with some kind of reason why the Biden family has received millions and millions of dollars from our adversaries.” (Video below.)

Stating the obvious, Lifson also mentions that if a Republican officeholder — and especially President Trump — had been found to have taken oodles of cash from a geopolitical adversary he has been pandering to, it would be front-page news, and the word “treason” would figure prominently in it. Why, the Trump/Russia/collusion hoax was a media obsession for years, and an innocuous 2019 phone call Trump made to Ukrainian leader Volodymyr Zelenskyy was thought impeachment-worthy.

The kicker is that Biden was caught bragging (video below) at a January 2018 Council on Foreign Relations appearance about essentially the same thing Trump was impeached for: threatening to withhold aid to Ukraine for what might’ve been personal political gain.

If personal gain was the motivator, it’s not surprising that Biden might “mess things up” by boasting of his coercion, as self-exaltation is his wont.

Remember, though, that Biden’s son, Hunter, was paid $83,333 a month by Ukrainian energy company Burisma Holdings despite having no expertise whatsoever in that business. This brings us to why all these matters:

Is Joe Biden compromised by way of these foreign payments? Does Beijing have dirt on him that it uses to leverage favorable policy? Could he possibly be a Manchurian president?

And what of Ukraine? Could Biden’s total commitment to the nation’s war effort against Russia be influenced by dirt the Ukrainians might have on his family?

Perhaps this is unlikely; these are just thoughts. But this is why having a media that actually does its job — and exposes corrupt candidates so they’re not elected — matters.

Say what you will about Trump, but he lost money while in office and owing to his entry into politics in general. In contrast, Biden has parlayed political power into riches — even as our country gets poorer.

What are CBDCs? Central Bank Digital Currency~Ron DeSantis Unveils Plan To Oppose ‘Big Brother’s Digital Dollar’

Ron DeSantis Unveils Plan To Oppose ‘Big Brother’s Digital Dollar’

FedNow launched in midst of a banking crisis, is it a precursor to CBDCs, 'totalitarian' control?

Richard Werner, Economics Professor and Author of "Princes of the Yen," and Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, discuss the Federal Reserve's FedNow instant payments system, and whether it will be used to usher in Central Bank Digital Currencies (CBDCs), digital tokens issued and controlled by central banks. Werner explains what CBDCs are, and warns that they will be used to bring about 'totalitarian' control and a surveillance economy. He also proposes that the recent banking crisis and consolidation of banks could be used as an excuse to bring about CBDCs, and suggests political solutions that might prevent CBDCs from being implemented.  Werner's book at Quantum Publishers:

https://quantumpublishers.com/

1 2 3 4