By Reason TV
Banks are sending notices of account closure out to small businesses across the country, to clients they’ve done business with for years, even decades. The reason? They often don’t provide one.
But a growing number of business owners believe they know why they’re being cut off from the financial system. It’s Operation Choke Point, ostensibly an attempt to crack down on fraudulent businesses, but in reality a dragnet that has ensnared innocent entrepreneurs unfairly classified as “high-risk” players.
Visit Reason.com
Big Box does not want competition, funding the little guy does not produce the profits owners demand.
This happened to us!
After perfect performance for 25 years (incl. an unsecured credit line), B of A sent us a template letter stating that our commercial account would be closed in 3 weeks.
Basically stating that were not obliged to give reason, and that the decision could not be overturned.
Our’s was rooted in the fact that we requested too much cash – too often.
We didn’t like B of A, but they have branches everywhere which was a good fit for our business, when I’m out buying.
Interesting that in the wake of the biggest expansion of government in US history what did Obama defund?
The Small Business Administration.
Absorbed it into Homeland Security, like he’s militarizing SBA.
You don’t need to be an economics major to know how many SBA loans got small business off the ground.
Or, how many folks small business employs.
Or, that small business is the ‘engine that drives our economy’.
The takedown continues.
The globalist’s ‘closer’ continues to bring America to it’s knees.
‘Change’.
It’s Fascism , pure and simple . They are going after numerous honest businesses for different reasons that serve interest’s of the Elite , who don’t want competition , armed citizens and want to ensure monopolies by Banks .
Remember last “election”? What was BOTH sides promising? To help the MIDDLE CLASS. Who has been hurt the MOST these last 7 years? The MIDDLE CLASS. Who is literally holding up the entire country? The MIDDLE CLASS. And finally- who WILL be eventually broken financially? Yup, you guessed it.
Come to Colorado and start yer bizz – and – partake in the noble weed(lots of mom and pop shops like the good old days) and so many mircobrewers – the napa valley of beers – you would be hard pressed to taste them all – Colorado the last stand for independence.
btw: fascism serves only to perpetuate the silver spoon crowd – gold collar scum.