Obama cuts access to banks to upwards of 50% of American economy…
This is something very near and dear to me, something that is quickly going to stifle 50% of the American economy. This is a very HOT topic that the mainstream media is not covering but YOU NEED TO KNOW!
In 2013, the Obama administration created a somewhat secretive operation called Operation Choke Point. No congressional bill, no Executive Order… This was an initiative that had the Dept. of Justice pressure the financial (banking and credit card) industries to “not do business” with “high-risk” businesses. Since they can’t outlaw entire industries such as states that allow legal marijuana sales as one example, they discovered that they can have the same cause and effect by cutting off their access to the financial system.
What does that mean in plain english? Ok, If the DOJ pressures banks to not do business with legal fire arms sellers (example but true), those sellers can’t accept credit/debit card payments from customers for sales. That leaves only cash sales BUT, the DOJ operational tactic is to pressure banks to not accept cash deposits from businesses in the identified groups.
I was recently affected by this where Shopify accepted a new business selling fully legal industrial hemp products but quickly closed that merchant account and access to collecting $$ from valid/legal orders due to their master merchant terms with Wells Fargo! Yes, I too see the irony here with Wells Fargo “closing accounts”.
The only way to “right the ship” is to move the financial aspects of my business offshore! Yes… OFFSHORE!!!
The disturbing part that most people don’t know about this and the shocking impact is has on American business that may cover as much as 40%-50% of the American economy.
Below is the latest list published by Shopify as prohibited sales. Sure, some are obvious and make sense but most are, well, unbelievable. Telecom products and services? Event tickets, identity protection? 60 industries and growing monthly.
Bottom line. Regardless of ones political affiliation the White House has caused the DOJ to quietly stifle business by cutting off their access to banks.
Here is the list and also a link to it. Just Google “Operation Choke Point” and you will see what I am talking about.
People need to hear this ASAP (like now). You have a voice, USE IT.
Shopify Link with same list below: https://www.shopify.ca/legal/terms-payments-us…
1. Age restricted products or services
2. Age verification
5. Any product or service that infringes upon the copyright, trademark, or trade secrets of any third party
6. Any product, service or activity that is deceptive, unfair, predatory or prohibited by one or more Card Networks
7. Any merchant that is deemed as too high risk to support
8. Bail bonds
9. Bankruptcy lawyers
10. Bidding fee auctions
11. Chain letters
12. Check cashing, wire transfers or money orders
13. Collection agencies
14. Counterfeit goods
15. Credit card and identity theft protection
16. Cruise lines
17. Currency exchanges or dealers
18. Door-to-door sales
19. Drug paraphernalia
20. Embassies, foreign consulates or other foreign governments
21. Engaging in any form of licensed or unlicensed aggregation or factoring
22. Engaging in deceptive marketing practices
23. Essay mills
24. Evading a Payment Network’s chargeback monitoring programs
25. Event ticket resellers, including theme park ticket resellers
26. Extended warranties
27. Festival tickets
28. Firms selling business opportunities, investment opportunities, mortgage consulting, credit repair or protection or real estate purchases with no money down
29. Flea markets
30. Fortune tellers
32. “Get rich quick” schemes
33. Human hair, fake hair, or hair-extensions
34. Illegal products or services
35. Mail-order brides
36. Marijuana dispensaries and related businesses
37. Money transmitters or money service businesses
38. Multi-level marketing or pyramid schemes
39. Negative response marketing
40. Offering substantial rebates or special incentives to the Cardholder subsequent to the original purchase
41. Personal computer technical support
42. Pharmacies or pharmacy referral services
43. Pre-paid phone cards
44. Pseudo pharmaceuticals
45. Quasi-cash or stored value
46. Securities brokers
47. Sexually-oriented products or services categorized as:
• Child pornography
• Fetish gear and services including S&M paraphernalia
• Hard-core sexually oriented products and services
• International match-making services
• Pornographic materials displaying sexually explicit pictures, images, and videos
• Sexually explicit telephone or online conversations and chat
• Sexually-oriented dating services, including companion/escort services and prostitution
• Sexually-oriented massage parlors, sex shows, sex clubs, topless bars, strip shows, and other adult entertainment
• Widgets that allow you to access pornography or pornographic ads
48. Selling social media activity, such as Twitter followers, Facebook likes or YouTube views
49. Selling video game or virtual world credits (unless you are the operator of the video game or virtual world)
50. Sharing Cardholder’s data with another merchant for payment of up-sell or cross-sell product or service
51. Shipping or forwarding brokers
52. Sports forecasting or odds making
53. Substances designed to mimic illegal drugs
54. Telecommunications equipment and telephone sales
57. Tobacco, e-cigarettes, vaporizers and accessories including e-juice
58. Travel agencies or travel clubs
59. Virtual currency that can be monetized, re-sold or converted to physical or digital goods or services or otherwise exit the virtual world or related services
60. Weapons and munitions