Operation Choke Point

[Elwar]

Apparently the government via the banks is trying to stop businesses they do not like by shutting off their payment processors and bank accounts.
http://en.wikipedia.org/wiki/Operation_Choke_Point

The following industries were on the list:
    Ammunition Sales
    Cable Box De-scramblers
    Coin Dealers
    Credit Card Schemes
    Credit Repair Services
    Dating Services
    Debt Consolidation Scams
    Drug Paraphernalia
    Escort Services
    Firearms Sales
    Fireworks Sales
    Get Rich Products
    Government Grants
    Home-Based Charities
    Life-Time Guarantees
    Life-Time Memberships
    Lottery Sales
    Mailing Lists/Personal Info
    Money Transfer Networks
    On-line Gambling
    Payday Loans
    Pharmaceutical Sales
    Ponzi Schemes
    Pornography
    Pyramid-Type Sales
    Racist Materials
    Surveillance Equipment
    Telemarketing
    Tobacco Sales
    Travel Clubs

Any thoughts on a solution to these merchants getting cut off from the banking system?

 

[LiteCoinGuy]

Paypal?

[Elwar]

Paypal?

They're getting their PayPal pro accounts shut down (the accounts that allow you to accept credit cards)

[shorena]

Apparently the government via the banks is trying to stop businesses they do not like by shutting off their payment processors and bank accounts.
-snip-
    Surveillance Equipment
-snip-
Any thoughts on a solution to these merchants getting cut off from the banking system?

So the NSA (et al.) will have to pay with bitcoin now?

[Meuh6879]

well ... in European Countries, they already do this (to owner or seller that deal with bitcoin high rates = more than 1500 USD per month). 

[ElectricMucus]

Cool, lets specifically market Bitcoin to scammers.

[franky1]

The following industries were on the list:
    Ammunition Sales
    Cable Box De-scramblers
    Firearms Sales
    Mailing Lists/Personal Info
    Pharmaceutical Sales
    Surveillance Equipment
    Tobacco Sales

kind of odd, as the short list i just shown in the quote are ways that government make money via their privatized partners, of which i think about 90% of government employee's have a vested interest in keeping in operation.

[pawel7777]

Apparently the government via the banks is trying to stop businesses they do not like by shutting off their payment processors and bank accounts.

The following industries were on the list:
...

Where did you get this news from? Source? Link?

Don't see banks being too happy about voluntarily freezing/closing such accounts. Some of those industries are pretty large.

Any thoughts on a solution to these merchants getting cut off from the banking system?

 

Hmm. Dunno. Is RonPaulCoin still around?  

[pedrog]

Well, many of those "businesses" are scams...

[Elwar]

Apparently the government via the banks is trying to stop businesses they do not like by shutting off their payment processors and bank accounts.

The following industries were on the list:
...

Where did you get this news from? Source? Link?

Don't see banks being too happy about voluntarily freezing/closing such accounts. Some of those industries are pretty large.

Any thoughts on a solution to these merchants getting cut off from the banking system?

 

Ahh, forgot the link. I saw it on Stossel but got the list from wikipedia. Updated the OP with link.
Hmm. Dunno. Is RonPaulCoin still around?  

[mkc]

Can government do this? I thought bank is private and need not listen to government.

[jonald_fyookball]

"operation" meaning extra legal measures that control freak bureaucracies try to do... read the wiki article.  the operation was even criticized by politicians and had counter measures taken against it.  they agreed banks should not be used to control business...so settle down, stop freaking out. 

[solitude]

This is now a National Socialist thread

HAIL VICTORY!

[solitude]

www.4chan.org/pol

Absolute Free Speech For The White Man!

[Sean Bash]

Operation Chokepoint has been going on forever. It has seriously hurt the payday lending industry. It has made opening up a business bank account very hard for anyone engaged in any type of financial service even if it's totally legal. It has affected many people I know.

Posted From bitcointalk.org Android App

[coinits]

[Elwar]

This is now a National Socialist thread

Not it's not.

Locked.