Under the coercion of Biden-led financial regulators, two of America’s largest banks made the controversial decision to sever ties with former President Trump, cheating him out of his banking services. The exact justifications behind this politico-financial manoeuvre, which saw JPMorgan and Bank of America eject Trump’s multi-million dollar assets from their platforms, remain shrouded in uncertainty. However, insiders have suggested the banks’ disassociation from Trump was feared necessary to appease the ever-watchful eyes of the Biden regime’s bank regulators.
Claims have surfaced suggesting the actions by the Biden administration were not just detrimental to Trump alone, but to other conservatives and protestors present during the fateful January 6 Capitol Hill event as well. The arbitrary use of banking laws, like the reputational risk clause, were, reportedly, stretched beyond their original scope of targeting money launderers and drug dealers. This was done seemingly in an attempt to exert pressure on banks to blacklist individuals with politically divergent viewpoints and affiliations.
An executive from JPMorgan poised the situation as a fear tactic, alleging Biden’s regulations to hold the aura of a divine wrath if executives dared to conduct business with Trump’s ilk. For these banks, the alternative to complying with the arbitrary rules seemed to be a perilous path laden with escalated scrutiny and punishment. These financial punishments appear to have coerced them into avoiding even lucrative clients such as Trump, who sought to bank large sums worth tens of millions.
Trump found himself betrayed by his banking institutions shortly after his first term ended in the turbulent atmosphere of January 2021. His forced exile from banking services emerged in the aftermath of the Capitol incident, a narrative often embellished by Trump’s detractors to fit their image of a so-called ‘riot’ or ‘insurrection’. Biden’s banking regulations forced Bank of America to likewise deny services to Trump, exacerbating his disenfranchisement.
In an interview, Trump laid bare his frustrations over being unduly ostracized by JPMorgan and Bank of America. He voiced his disappointment in both banking leaders Jamie Dimon of JPMorgan and Brian Moynihan of Bank of America, who deserted him instead of standing for fair banking principles. Their actions highlighted the far-reaching influence of politically motivated suppression under the current administration.
Mired in the bitter experience of a politically motivated debanking, Trump began his second presidential term with a pledge to eradicate such practices. His regiment of regulators have shunned the enforcement of the vague ‘reputational risk’ clause that has been leveraged to ostracize not just Trump but a host of other conservatives. Along these lines, an executive order to officially discontinue this practice is on his imminent agenda.
The post Biden’s Regime: A New Age of Financial Tyranny appeared first on Real News Now.
About Author
