Obama’s “Operation Chokepoint” Cuts Off
“Icky” Businesses from Banks
By Clint Siegner, MoneyMetals.com
Ever hear of the clandestine program hatched by Obama’s Department of Justice called Operation Chokepoint? It’s a little-known effort to make it much more difficult for businesses to operate if they dare to sell Americans guns or precious metals.
Operation Chokepoint is strangling your freedom, and you need to know about it.
Long ago, bureaucrats began dreaming of the day when the complete transaction records of every citizen would be available for review. Cash had been souring those dreams. Individuals used it routinely and enjoyed the ability to buy and sell in confidence.
So the war on financial privacy was launched in 1970 with the Bank Secrecy Act. It targeted cash specifically by requiring banks to report transactions involving more than $10,000.
Politicians sold the law to the public as an important tool for thwarting drug dealers and tax cheats.
Fast forward thirty years to the turn of the century, and the vilification of privacy was all but complete. Electronic payments — credit cards and debit cards — had become standard. Anything not paid for with a card, especially larger purchases, tended to be handled by check. So walking into, or out of, a bank with a large amount of cash was highly unusual and sure to arouse suspicion.