Is Debanking the New Immigration Policy?
Financial regulators are the latest agents to be recruited in the Trump administration’s war on immigration.
Research Fellow at the Cato Institute's Center for Monetary and Financial Alternatives and Fellow at the Human Rights Foundation. Covering CBDCs, financial privacy, and cryptocurrency. Opinions are my own.
Financial regulators are the latest agents to be recruited in the Trump administration’s war on immigration.
Given the risks of CBDCs, this passage marks a great win for financial freedom.
The United States Postal Service has finally laid the postal banking pilot program to rest.
It’s time to recognize that the Bank Secrecy Act and warrantless surveillance of financial activity are an unjustified intrusion into people’s privacy.
President Donald Trump issued an executive order to stop the creation or development of a central bank digital currency (CBDC). Yet rumors have begun to swirl that the Federal Reserve is ignoring this order and actively working on a wholesale CBDC.
Congress should not let this abuse go on. It’s time to face the truth: the Bank Secrecy Act costs too much and provides too little in return.
The Bank Secrecy Act doesn't work.
Representative Juan Vargas (D‑CA) pointed out a harsh reality during a congressional hearing: Republicans have a surveillance problem.
Financial surveillance is getting worse every day. Although many legislative expansions have not passed, the wheel keeps turning. Inflation, geographic targeting orders (GTOs), and executive orders have greatly expanded the Bank Secrecy Act.
Representative Warren Davidson didn’t pull any punches when describing the Bank Secrecy Act.
Following my testimony before the House Committee on Financial Services, I want to share what I said during my opening remarks. For my full written testimony, see here.
Testifying before Congress is never an easy matter. Time is limited, and tempers flare. Yet, during my testimony on the Bank Secrecy Act, I was asked some great questions by members of the House Financial Services Committee. I’ve copied my favorite ones below with light editing for brevity.
America is celebrating its 250th anniversary, but President Trump has forgotten the Constitution.
Considering that the Trump administration has also been flirting with price controls and playing politics with several potential mergers, it would be wise to consider Spirit’s experience as a cautionary tale.
Financial privacy has largely disappeared under the Bank Secrecy Act. Worse yet, most Americans have no idea this system exists.
The only thing worse than getting robbed would be having the robber demand endless forms about the money they are taking from you. Taxes are no different. Congress should simplify the tax code so the average American can do what’s required with ease. Doing so would go a long way toward easing Americ
Jimmy “MrBeast” Donaldson is the latest target in Senator Elizabeth Warren’s (D‑MA) crosshairs.