DEBANKING CONSERVATIVES IS COMING TO AN END WITH PROPOSED BILL

It’s going to go to a million in five years. These are the projections. Mining is coming to an end. They’re going to run out. What do you think supply and demand is going to do with the value of crypto? Bingo. My Digital Money also has a unique service. They can take your retirement away from the bank. They can keep it if they’re in trouble. Dodd-Frank 2010, that’s a law. And you’ll own it. You’ll back it with a precious asset, crypto. Say, whoa, wait a minute. That’s an appreciating asset as opposed to the dollar.

That’s a failing asset. There you go. To find out more, go to MyDigitalMoney.com. That’s MyDigitalMoney.com. Well, we have a topic I want to talk to you about here in this particular segment, the Fermact. I really like Tim Scott. Representing Tim Scott. He is awesome. And this man is, everything he does seems to be benefiting the average person. And Tim is fantastically communicative. He’s constantly in the media, not trying to draw attention to himself, but trying to say, this is what we’re going to stand for. And he doesn’t embellish himself. I mean, he’s really a humble man.

He’s kind of like the superstar that gives attention to everybody else around him. But what the Fermact is, is it stops a banking practice that should have never become legal ever. The government had the tools to take care of the problem that we’re going to unravel this for you here very quickly. And the reality is this, your bank is your enemy if you’re a conservative. That’s right. You heard me. Your bank is your enemy if you’re a conservative. And I knew a little bit about the history of bad banking in America, with regard to being prejudiced against conservative Americans, MAGA supporters, and the retribution that came the way of people that fit that political dogma.

And it’s wrong. It’s illegal. And now it’s finally going to be dealt with. Let’s back up. President Trump, after 2020, got debunked. No debate. After the 2020 election, the banks started to cancel him. They said you are a reputation liability. But that banking practice didn’t just stop with Donald Trump. It carried over to people in the Tea Party movement, in the MAGA movement, people who championed various conservative causes like getting rid of property taxes, depending more on tariffs as opposed to income tax. These people were discriminated against by the big five banks. In one day, 300 major account holders who were all conservative were de-banked.

PayPal engaged in this practice for a while. My wife and I had a discussion about this tonight. We started to move away from using PayPal as much as we could. Because of this, we didn’t want to become a victim. And we’re not obnoxious in our views. We’re constitutional in our views. And our morals are guided by the teachings of Jesus Christ. We shouldn’t have been offensive to anybody. We’re prejudiced towards nobody. But we were worried that we would become a victim. Fortunately, we did not. But we’ve moved away from the big five banks.

Bank of America, Wells Fargo, to be specific. And we’re really funneling in on credit union. And is it perfect? No, but it’s better. And I will tell you, these banks who de-banked conservatives beginning in 2020, they who did this, the officials, should not only have their institutions fined and penalized. They need to do some jail time. They engaged in a plot to basically strip away people’s First Amendment rights. And they used financial levers and caused financial damage in severance debt. Now, they say, well, we only went after the extreme. Well, extreme is a nebulous term that you can debate.

But the extreme they went after, and I put extreme in quotes, was only on one side of the political spectrum. The extreme on the other side of the political spectrum was ignored. This is going to become a big issue. And I can tell you right now, the banks are running for cover right now. They’re absolutely running for cover. Donald Trump is either has on Friday or will on Monday issue an executive order on this point. And he’s seeking an investigation and damages, and he should. And so should anybody else who was a victim.

The Tim Scott proposed law will prevent the practice from ever happening. Banks simply going after people for having an opinion that they disagree with. And you know who else they went after? This is kind of interesting. In 2020, they went after the crypto crowd. If you were making your money from crypto, they de-banked you often. Not always, but often. And now I remember it was Jamie Diamond. Let me go back to something I’ve talked about before. Going back several years, Jamie Diamond says, I’ll fire any of my employees, whoever engages in crypto, Bitcoin, XRP, I’ll fire them.

I’m laughing because now they can’t get enough of it. PayPal just began to take on crypto as payment. And these are the people that in part were being de-banked because they were a reputational liability. That’s such a bogus, I’ll catch all nebulous term. In other words, we’re going to financially punish people who are the political enemies of the liberal establishment. That’s effectively what Tim Scott is saying and what he’s addressing. I don’t think it should just go one way. I think, I don’t care what your purpose is. Now, people say, well, Dave, okay, what about the RICO laws and what about organized crime and laundering money? Well, money is still getting laundered.

We’ve done enough shows on that to show you that. That’s one thing, but I do agree. There needs to be a mechanism in place, but the RICO laws covered. The banks don’t have to de-bank. I had an encounter too, and this wasn’t even over first amendment rights when I was doing an exchange of property for cash. It was only $1,500. The cash reporting, CTR reports have to be filed at $9,999. And if you got several of those amounts in the road, they’re going to look at you for structuring and come after you. I had one event, $1,500 cash, and I had to jump through unbelievable hoops to complete that.

It’s none of their damn business. They say, well, Dave, they’re supposed to watch out for organized crime, $1,500 cash payment. Yeah, exactly. Exactly. Since when did they become the financial sheriffs of America? And I’m hoping that Tim Scott’s proposal, the FIRM Act, becomes law, and we stop this practice. And listen, as things begin to turn to the conservative in our government, I don’t want to see the same thing applied to our liberal adversaries. That’s not how America is supposed to work. The laws need to be applied equally to everybody in every situation.

And I will go back and say this again. The people that did this, their financial institutions need to be fined and then penalized. And there could be possible jail time involved. And I think it needs to be looked at. It’s not for me to decide, but we can’t have a country that does that. This is reminiscent of the old Soviet Union. This is how they do business in communist countries. This is not how we can be as Americans. I’m Dave Hodges. This is the Common Sense Show. Thank you so much for joining us.