Trump signs executive order to shut down bank accounts
14d 7h ago by lemmy.zip/u/mrodri89 in politics from finance.yahoo.com
So should we be pulling cash out right now or is that me just panicking?
Next: Anybody I don't like is an illegal immigrant.
Which step of the Nazi plan was debanking the Jews?
Ah, so they're working on new ways to ruin the lives of anyone who protests ICE.
Eh, well, despite the narrative that protestors are lazy and wealthy, most of us take a loss to get the day off to protest. Freezing my over-drawn account is not the worst thing to happen to me. By all means, make capitalism impossible, we’ll just be forced to barter and trade.
Just want to point out that they are adding friction to commerce or making it "impossible" as you say for some people, but that isn't making capitalism impossible. Corporate Authoritarianism is basically the logical outcome of capitalism and we are there now.
Too many people conflate capitalism with commerce. You can totally have a different system and still have a similar type of commerce that we know today.
Yep. Too many entrepreneurs think they're capitalists. Small business owner operators protecting a system that protects the interest of financiers.
AKA petit bourgeoisie
Why's everyone making such a big deal? It's just a petit bourgeoisie!
Corporate Authoritarianism is basically the logical outcome of capitalism
It’s funny (as in not at all) because I said the same thing a few years back and people thought I was crazy
The best way to demonstrate this is by playing Monopoly with a competitive family and not insisting to play strictly by the rulebook. The winners (capitalists) will invent all sorts of ways to keep the game dragging on while still inflicting financial pain on the other players. They will loan money at ridiculous rates, they will buy stuff off people out of turn so they can remain solvent, they will let them have just enough money to collect $200 by passing go, but not enough money to ever exit the game.
Sounds like something that would trigger a run on the banks.
Good
Are they going to freeze Walmart's accounts if they find a single illegal immigrant working there? or just the immigrant bank account with peanuts they use to send some money to family back in wherever?
Remember in The Handmaid's Tale when all women suddenly lost access to bank accounts?
Exactly what I thought of.
Bit of a click-baity headline (though not your fault OP).
The sub-heading is clearer:
President Donald Trump has signed an executive order directing the Treasury Department to shut down bank accounts used to support illegal immigration.
I just dont trust this administration to honestly go within those parameters. Suddenly anyone he doesnt like is an illegal immigrant.
Worse. If, for example, I, born and raised in the US and white as fuck, use a bank account to pay for Mexican food, and that business gets targeted by ICE because their racist pieces of shit, they could decide to close my bank account. They could say I was supporting illegal immigration.
Yes. But you don't even have to buy the Mexican food. There are infinitely many scenarios they can come up with for liberals to keep justifying the line moving.
These types of "reasons" are not the fascist "finding loopholes". It's just a means of keeping the illusion of the systems still operating. If the system is still operating then "we can take it back". It's for liberals to believe that if they were tarkets that they could "justice" their way out. That maybe they'll even be protected by their white privilege.
Fascist don't let you take it back using the system. When the midterms don't go well. We'll have liberals continue to fight to "fix the system". We'll get "justice for the voters" and lawsuits that go nowhere. We'll get a couple well intentioned politicians that speak out against the fascist. Allowed to speak only so long as they are needed to maintain the illusion of a fight. Spending the next two years moving the line with each step so we can pretend the system is still saveable.
Buy your Mexican food. If you're a target it won't matter what reason they use to justify taking you. Better than getting your lunch at a corporation that supports this.
remindme@mstdn.social 154 days
@WoodScientist Ok, I will remind you on Wednesday Nov 4, 2026 at 11:59 PM UTC.
fascist Republican administration does something evil and fascist
"Those goddamn fucking liberals"
Read a history book mate. I'm using history to understand the present. Hell, Wikipedia can help you. This isn't about shitting on individual people in this country that call themselves "liberals". This is about understanding how liberal democracy enables the rise of fascism and why it is insufficient in stopping it.
I'm aware of what liberalism is, and I'm not even defending it.
What I am doing is pointing out something that I found interesting about your comment.
Well, you can be explicit in what you found interesting then. Because what you implied was that I was focusing blame on "liberals" over the blame set on fascist themselves. There isn't really any other way to interpret your comment.
Fascist seek to overthrow liberal democracy. They, historically, have not done this by an outside revolutionary movement that overthrows the systems by force (think the French revolution). They instead exploit the contradictions of liberal democracy and build Fascism within its existing structures.
All mention of "liberals" in my initial comment are in reference to the non fascist politicians that are attempting to prevent fascism but are entirely unable to do so. Not because they are fascist. But because fascism is a destruction of liberal democracy from within. It's exploits the process of liberal democracy to take power.
There is nothing interesting you are pointing at from my comment. You are just fundamentally not understanding what was being said.
Tomorrow: "President Trump accuses the Democratic Party of being in support of illegal immigration, attempts to shut down the bank accounts of all members."
why stop there? many entire cities... states, even.. have opposed this bullshit and now risk having their financial accounts drained by the dicktator in chief.
So if I am in support of immigration is my bank account going to be taken?
And with it all my debt??
No no, only your liquid cash gets taken- debt is privately held and will never go away.
Ha, good thing I only have credit and no liquid cash.
What about the accounts of Americans who donate to GoFundMe in support of immigrants?
Great question. The answer probably depends on this administration's whim.
Saying you trust Trump is going to follow what hes says himself LUL
Any protester supporting immigrants then?
So, he couldn’t get his $1.8b slush fund, so he’s creatively forming a pretext to financially kneecap his enemies and likely siphon off a ton of money while doing it.
Please, it’s 1.776 billon specifically. For no particular reason ofc
It actually wasn't. The "settlement" never specified a number, so it was in essence a blank check.
Lol! Weren't they all screaming about Canada being a fascist dictatorship for being able to do this, not too long ago? I wonder if they'll see the irony, or at least recognize the parallels here.
Reactionaries don't make arguments based in what they believe, they do it to win. They literally couldn't care less about what is true, they say what is useful to believe to win the argument.
And pointing out their hypocrisy is a game to them; they love the fact that they're free to make up the rules as they go, unbeholden to their previous stance. Pissing people off is half the point of arguing for them.
I might start putting my cash into something that store its value and can be readily traded like I dunno cigarettes, firearms, salt.
Toilet paper
Invest in a bidet now, stockpile TP without sacrificing your bodily cleanliness.
Kraft Mac & Cheese, rice bowls, canned beans, canned chicken, and cup ramen.
So is money free speech or not?
(Yes, I know, the real answer is it depends on whose money and how much of it is in the unmarked envelope)
Stealing people's entire savings and closing their bank accounts is how people get radicalized and when you have nothing to lose, you have no limits.
This will backfire for sure.
I've been saying for years that the next big thing will be a bank run.
Hasn't been one in a while. Under utilized panic option. They'll make it happen soon enough.
I mean they could just stop propping up oil if they want a market crash.
It is inevitable, because the oil reserves are limited. At best, they delay oil shocks and give an administration breathing room to find a solution. The Trump Regime can't find their own ass with a map.
It's more about the panic then the market crash. They want irrational actors. Remember in die hard the shitty one about the fire sale. It's basically that. Aside from the terribly movie, they're kicking the legs from the pillars of a democracy and in the chaos and vacuum that's created they can usurp power and authority. Western countries need to identify these efforts better and guard against it.
Dang, Trump is speed running the end of American Empire. Avast, ye swabs, the US dollar is about to go belly up.
I often thought America was dying, but I assumed it would be a slow descent into senility and infirmity. Now it seems more like a game of Frogger, being played with our everything.
Like a house that has been hollowed out by termites over the years will collapse without visible warning....
Melania at the ATM tomorrow: Why my card no work?
So the bank accounts of nearly every farmer in the USA?
Trump admin seems to have about 1 scam per week, so this must be the pump and dump for cypto scam for this week.
Always wanted a reason to get a fake identity. Just never really motivated to do the work. Until now.
Or. I could Open a Canadian bank account. Could do that instead.
Canadian bank accounts suuuck.
Yeah but trump can't take my money if it's in Canada
Israel will
Wouldn't someone they're attempting to denaturalize be a valid target of that description?
So Western Union and Cash App etc will need to be shut down?
Mmmmmm I love living at the beginning of The Handmaid’s Tale.
So. All they have to do is say that they suspect you of a crime, then they get to seize your bank account. It doesn't even have to matter whether they think it's true or not, as long as they say that they think it's true.
Let’s pull some money out to buy some gold and silver just to be safe than sorry
Wouldn't be surprised if he accuses members of congress and governors to be supporting immigration, such as Ilhan Omar. Thus, stripping them of wealth and trying to force his enemies to go with whatever he wants.
Okay... let's go ahead and assume that, for the sake of worst case scenario planning, there is a real risk of this being used against people who have protested ICE, donated to bail funds for anti-ICE protestors, donated to immigrant solidarity funds, etc., as well as against their loved ones.
What is the best move for Americans in this scenario to protect themselves? Are foreign bank accounts a safe option? If so, what would the best move be? If not, what other good moves are there?
My guess is, since businesses seem to have more rights and privileges than people, open an llc in Delaware and use the business account to donate. On one hand the business taking a fall could set a precedent we'd all benefit from. On the other, you can use it as a tax deduction.
I don't know what I'm talking about, don't take this seriously.
I don't know what I'm talking about, don't take this seriously.
Shit. I almost hired you to my top law firm.
Invest in firearms
What is the best move for Americans in this scenario to protect themselves?
To form an armed resistance and retake the government.
So I currently owe the bank $70 can he shut down my account
Should he shut down world liberty financial? Pretty sure they use crypto.
I'd pull everything from the banks, and demand cash for payment from work
Yeah. Ask Walmart for your paycheck in cash. They'll get right on that I'm sure
There are options outside of having your paycheck direct deposited.
...what?