“Debanking” seems like something out of paranoid dystopian fiction, but this horrific abuse of government power is already all too real.
We’re almost glad the Biden crew deployed it against then-former-President Donald Trump in 2021: That not only ensures he’s aware of this outrage; it points to how even the powerful are vulnerable.
It’s as simple as it is scary: Government regulators give a quiet nod to financial institutions that certain people or industries are to be “unpersoned,” and pretty soon they get the same treatment as North Korean tyrants, terrorists or drug kingpins: locked out of the financial system, which means social death.
The victim gets turned away at other banks, all with no way to appeal what’s blandly painted as a “business decision.”
Just try life without an