Breaking News: Debanking Practices on the Rise Worldwide
In a shocking turn of events, US Treasury Secretary Janet Yellen has been advised to encourage debanking practices, going against the advice of her own advisors. This move has sparked major controversy, with twenty Republican Attorney Generals stepping in to remind Yellen that interfering with state laws to target political opponents is not permissible.
Florida Attorney General Ashley Moody spoke out against the Treasury’s actions, stating that it has “forsaken its statutory role and instead chosen to intervene on behalf of activists seeking to hijack the financial system for their political ends.” This disturbing trend of debanking for political reasons has been on the rise globally, with disturbing incidents surfacing in 2024.
In April, 15 Attorney Generals attempted to address Bank of America’s questionable debanking practices towards Christian organizations. Examples included freezing funds of Christians and churches without warning under the guise of national security concerns. The government instructed banks to monitor transactions for keywords such as “Trump” and “MAGA,” as well as purchases like religious texts and firearms, labeling individuals as potential threats under the facade of combating domestic terrorism.
The recent actions of the Treasury Department and major banks have raised serious concerns about the abuse of power and the erosion of individual freedoms under the pretext of national security. It is evident that governments are weaponizing banking institutions to enforce political agendas and silence dissenting voices.
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