Florida bank says it has closed Trump's accounts

[bits4books]

All sorts of progressive liberals and libertarians can say as much as they want that this is private discrimination and it's ok. But if you have your own head on your shoulders and you distinguish at least yellow from red, then you should understand that this will not last long. In the situation with Trump, the whole world has seen how far corporations have come and how much they have covered us with their hands - and this can cause a tsunami of restrictions for everyone  from the state. And even though Biden and his team support all this , you will soon see how in the beautiful Socialist America of the Future, corporations will be forced to impose more and more restrictions, justifying this with the protection of free speech and so on. But we still understand what this will lead to in the end.

It is ironic, isn't it? America is moving more and more towards socialism, while China is moving towards capitalism. The Chinese had enough of socialism and they saw how it turned out in countries such as the USSR, Cuba and North Korea. Americans have no taste of Socialists in power (until now) and this will be a bitter lesson for them. They need to suffer first, so that they will never chose this option again.

I wouldn't say it's ironic. I feel like the" greatest on the planet " America at one point sharply hit the left agenda-benefits, social work, Obama's Care, and so on. This led to the public idea that "everyone around me owes me" and from here there was already a growing snowball of all the "social injustice" and other tears of black single mothers with five children whose husband is sitting for selling drugs - after all, asking for the money from gov. And what did it lead to? Children and young people who read about the conditional USSR only on Reddit and on Soviet-wave sites decided that communism is cool and in general everyone owes us. Here and get it, sign it.

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[bits4books]

All sorts of progressive liberals and libertarians can say as much as they want that this is private discrimination and it's ok. But if you have your own head on your shoulders and you distinguish at least yellow from red, then you should understand that this will not last long. In the situation with Trump, the whole world has seen how far corporations have come and how much they have covered us with their hands - and this can cause a tsunami of restrictions for everyone  from the state. And even though Biden and his team support all this , you will soon see how in the beautiful Socialist America of the Future, corporations will be forced to impose more and more restrictions, justifying this with the protection of free speech and so on. But we still understand what this will lead to in the end.

It is ironic, isn't it? America is moving more and more towards socialism, while China is moving towards capitalism. The Chinese had enough of socialism and they saw how it turned out in countries such as the USSR, Cuba and North Korea. Americans have no taste of Socialists in power (until now) and this will be a bitter lesson for them. They need to suffer first, so that they will never chose this option again.

I completely agree with your opinion, and I believe that people always start to appreciate more what they lose. After all, it is then that awareness and understanding comes. I was personally very surprised at how the whole election process and the relationship of the results of the expression of the will of the people in the United States took place, since for me America was the prototype of a democratic society.

So the will of the people was such that Trump won. But everyone from elite decided to ignore the fraud and make Donald a clown and his electorate was naturally outraged. And seeing what their opponents did in 2020, they decided to respond with the same coin. And note at the same time that the entire business - small, medium, and large-suffered during the BLM protests, while only the Capitol environment suffered during the Trump Army rally. The first went against their environment and the second went directly against the authorities. Does this not mean that once again the conservatives have shown who has a head on their shoulders?

[AngelaT34534]

New York's crypto-friendly Bank (SignatureBank) and Deutsche Bank, two A-level financial institutions, also refused to do business with Mr. Trump. The situation of our former Mr. President is not very good

[bitgolden]

America is moving more and more towards socialism, while China is moving towards capitalism. The Chinese had enough of socialism and they saw how it turned out in countries such as the USSR, Cuba and North Korea. Americans have no taste of Socialists in power (until now) and this will be a bitter lesson for them. They need to suffer first, so that they will never chose this option again.

How do you imagine one corporation having the power to not work with someone if they do not want to is socialism and forcing that company to working with everyone is capitalism? I do not think that you understand what socialism or capitalism means, capitalism is free market and in a free market you can decline to work with someone if you do not want to.

If twitter wants to ban trump, they have that right, it is a company, if Florida bank doesn't want to work with Trump you can't force them to keep working with him, these are their rights and they have been for decades, from papa bush to Clinton to bush jr to Obama to trump these rights have always been there, any company in USA can decline to work with a customer, that is in the root of America. Just because it happens to all might trump you guys love so much doesn't change that it is a common thing in business world.

[magneto]

Could Trump's 1st response be to seek out liquidity in cryptocurrencies. Or would he be more likely to simply seek out other banks to do business with?

I doubt that he'll necessarily publicly endorse any decentralised cryptocurrencies.

However, I do think that once he exhausts all options in the traditional wealth management/banking route, he will be forced to turn to cryptos - just in private.

I would also not be surprised if he decided to create his own Trump token or whatnot. He does seem to be precisely the sort of guy to be doing that, although it would take a great fool to believe in anything of this sort coming from him.

[Gyfts]

Trump isn't going to be the last person these banks deplatform. I imagine we'll have companies that spring up just for conservative with how "tolerant" the left is -- or this just makes the case for decentralized currency even more appeasing.

Fortunately for Trump, a bank would beg to keep his money within their institution.

[iamsheikhadil]

I think banks should strictly stay limited in the business they do and not really participate in social stuffs like politics and stuffs. These gives us a strong message that the financial institutions we trust can also be biased towards certain political leanings and that's bad because an institution shouldn't have such biases. They are free to suspend any accounts if they found Trump guilty of their rules but else, it shouldn't. That's why we need cashless economy and control that decentralized crypto provides us as well

[bryant.coleman]

Trump isn't going to be the last person these banks deplatform. I imagine we'll have companies that spring up just for conservative with how "tolerant" the left is -- or this just makes the case for decentralized currency even more appeasing.

Fortunately for Trump, a bank would beg to keep his money within their institution.

That poses a risk for cryptocurrency as well. If the banks close down accounts just for political differences, then we can expect a lot of people to move towards cryptocurrency. At this point, do you really think that the leftist government in power will remain as mute spectators? They will start harassing the cryptocurrency users, in order to prevent this switch. Already Janet Yellen has made some very hostile statements related to cryptocurrency and Bitcoin in particular. And in India, they are talking about making ownership of cryptocurrency a criminal offense, that is punishable by up to 10 years in jail.

[Natsuu]

Trump isn't going to be the last person these banks deplatform. I imagine we'll have companies that spring up just for conservative with how "tolerant" the left is -- or this just makes the case for decentralized currency even more appeasing.

Fortunately for Trump, a bank would beg to keep his money within their institution.

That poses a risk for cryptocurrency as well. If the banks close down accounts just for political differences, then we can expect a lot of people to move towards cryptocurrency. At this point, do you really think that the leftist government in power will remain as mute spectators? They will start harassing the cryptocurrency users, in order to prevent this switch. Already Janet Yellen has made some very hostile statements related to cryptocurrency and Bitcoin in particular. And in India, they are talking about making ownership of cryptocurrency a criminal offense, that is punishable by up to 10 years in jail.

India's decision is not necessarily correlated with what is happening in the states and is on the other continent. But it is pretty concerning on what is happening to India. Is there any reason why they are making this law, and how the things scales up that it would become a criminal offense?

[sana54210]

Trump isn't going to be the last person these banks deplatform. I imagine we'll have companies that spring up just for conservative with how "tolerant" the left is -- or this just makes the case for decentralized currency even more appeasing.

Fortunately for Trump, a bank would beg to keep his money within their institution.

I think it is not about left or right, banks do not work with criminals and that is probably the only issue here, for the past 100 years we had "right wing" people and they all had a bank to work with and never had a problem.

Look at people who literally wore white sheet and burned black people, they were called KKK and they still had banks to work with, why? Because, banks do not care if you murder a million people or you hate certain race or you are conservative or not, banks can't care less about what your political ideology is, you know what they care?

If you have money and if you pay your debts back. Trump is famous for not paying debt back, dude owns 400+ million debt that was unearthed that he didn't paid back, he kept saying "I have just few buildings worth over that" but that doesn't really mean anything as long as you do not pay it back. So, if you are a very far left criminal or a very far right criminal you would be banned from banks, they only care about your money.

[Vishnu.Reang]

India's decision is not necessarily correlated with what is happening in the states and is on the other continent. But it is pretty concerning on what is happening to India. Is there any reason why they are making this law, and how the things scales up that it would become a criminal offense?

Well.. I am from India, and I guess I can explain this a bit in detail.

The current Indian government is essentially run by a few corporate houses such as Adani and Reliance. Ever since the NDA came to power in 2014, the government has been trying hard to give a complete monopoly to a few corporates such as these two in the Indian market, by prohibiting competition from the other sources. Cryptocurrency caught their attention, after the recent bull run. The methodology is very simple and straight forward. Ban established cryptocurrencies such as Bitcoin and Ethereum, so that the Adani/Ambani cartel can launch their own version in the future with 90% or 95% pre-mine.

[perfect999]

So the will of the people was such that Trump won. But everyone from elite decided to ignore the fraud and make Donald a clown and his electorate was naturally outraged. And seeing what their opponents did in 2020, they decided to respond with the same coin. And note at the same time that the entire business - small, medium, and large-suffered during the BLM protests, while only the Capitol environment suffered during the Trump Army rally. The first went against their environment and the second went directly against the authorities. Does this not mean that once again the conservatives have shown who has a head on their shoulders?

You can try to sugarcoat it however as you please, you can even show the capitol attackers as the heros of this story if you want to change the narrative but that will never happen in the eyes of the winners, by winners I mean the people who won the congress, the senate, the vp and the president of united states of America, there is literally nothing else you can win right now and democrats won it all, republicans are the losers in this story and will stay like that forever, there is no way to change that.

You want to know the reality of the situation? BLM attacked everywhere they can find according to you, instead it was proven that there was white supremacists that got jailed poised as BLM protestors to diminish the real movement, they were literally jailed for it and all BLM movement people got tear gassed and rubber bullets and even elderly were shoved to grounds and hurt, that is how everyone reacted to people protesting police brutality, the response was literally more police brutality.

You want to know what happened with "trump army" morons? They were attacking capital to zipt tie and take hostage elected officials maybe even worse, and wanted to take over the congress and wanted to appoint Trump as the president, which is a coup and they didn't want the real results of Biden winning to be accepted and they wanted Trump to hold power even after he lost, that is treason and I do not care how you want to name it, reality is treason.

[kolbalish]

No matter of worry, trump is a rich person that he may not get panic if one bank closes his a/c. He has much option to maintain a/c. But it can't say that if trump involves in crypto or not. Because he was a president and he knows very well about government rules so I think he should not involve in BTC.

[CarnagexD]

Publicizing their actions against Trump will give them the chance to gather people who are against Trump into their banking institution, so it wouldn't be surprising. Not to mention the fact that compared to the money that goes in and out of their pockets, Trump's money in their vaults will amount to nothing but pennies. That's why they are confident about this.

[STT]

DB is dumping the debt rather then holding it to term, this isnt altering Trump directly mostly themselves.  So they'll not make as much profit on the debt as they might have otherwise, they are sharing that profit in prospect with another company and they'll be a line of various operations willing to buy a liquid servicing asset.
  It might imply Trump will not as easily in future raise debt or it might cost more to do so, that reduces his planning for large buildings taking place maybe or just means he will rely more on partners to raise money rather then himself.   Theres so many options made available to working businesses, DB is high profile and wanted to rid themselves of the publicity but quite a few finance operations have no wider public recognition and will be happy to make themselves of service to any party wishing to legally pay interest for their debt, all quite normal.

Could Trump's 1st response be to seek out liquidity in cryptocurrencies.

I think Trump can find finance even in dollars easy enough and if not he has the support of many different nations.   Its quite common for former national leaders to take up diplomatic positions to further the causes of middle eastern, asia interests or wherever is neglected in attentions, Im not convinced they can cancel Trump this easily.   Its only one side of the story, DB wants to stay neutral understandably.

[Shasha80]

I'm sure a stubborn person like Trump wouldn't want to seek liquidity in cryptocurrency, I'm sure Trump will find another solution. Trump before
becoming president of America was a successful businessman, Even now Trump is still a successful businessman with many networks in various
sectors. Including in the financial sector, I'm sure Trump will find another bank to do business with. Since Trump has been in business for so long,
there must be other banks that support Trump. I don't think this news will affect crypto societies, because it is not directly related to cryptocurrency.

[goaldigger]

The impeachment trial is still on-going and if Trump is guilty, he will never be allowed to run on any position in the government and we the ordinary people have to move on as well and focus on rebuilding ourselves, let’s hope that the new administration will deliver. Also, Trump is too old and better for him to enjoy his fortune before its too late.

[AndySt]

I think Trump can find finance even in dollars easy enough and if not he has the support of many different nations.   Its quite common for former national leaders to take up diplomatic positions to further the causes of middle eastern, asia interests or wherever is neglected in attentions, Im not convinced they can cancel Trump this easily.   Its only one side of the story, DB wants to stay neutral understandably.

Recently, it was reported that Trump collected $ 170 million in donations for his "Save America" political action committee. I do not think that anyone will offer a diplomatic post to Trump in the current situation, or Trump himself will agree to it, given the ongoing impeachment situation and the political ambitions of the former president, who would not mind participating in the next presidential race for the post of White House host. It's no secret that this whole impeachment fuss is designed to throw Trump out of politics and not allow him to run next time.

[Sithara007]

I'm sure a stubborn person like Trump wouldn't want to seek liquidity in cryptocurrency, I'm sure Trump will find another solution. Trump before
becoming president of America was a successful businessman, Even now Trump is still a successful businessman with many networks in various
sectors. Including in the financial sector, I'm sure Trump will find another bank to do business with. Since Trump has been in business for so long,
there must be other banks that support Trump. I don't think this news will affect crypto societies, because it is not directly related to cryptocurrency.

ROFL.. Trump can easily purchase a few dozens banks if he want. On the other hand, this is the first time I am hearing about the two banks mentioned here (Banks United and Professional Bank). Trump probably don't care about all this and these bankers have their two minutes of publicity. But in case Trump decides to initiate legal action against them, then I am quite sure that the banks will find themselves in trouble.

[beerlover]

People are talking about "cancel culture" like it is something that they can't do. You find a person doing a movie that used to be racist? Cancel his movie, you find some athlete being sexist? Do not sign a contract. These are all within rights, hell Coling Kaep was kneeling for the national anthem for few years before he was basically fired from the NFL, no team wanted to sign him and get the attention so nobody signed him, that is a cancel culture move by the right, and even though we can complain about it, it is within each teams right, what are we going to do force teams to sign him no matter what? You can't do that.

If a bank wants to not work with trump, that is fine, that is always fine, if a cake shop decides not to bake for gay people, then a bank can decide to not work with trump. Twitter CAN ban him, it is not freedom of speech issue, it is literally within their rights to not work with anyone they want. This is free market.