Another Case For Bitcoin, Banks Can Cancel You, Just Like That
If you still were not convinced that Bitcoin is the way to go, read about this new story. It is scary how much power banks have nowadays.
Chase Bank has canceled General Mike Flynn’s personal credit card, citing `possible reputational risk to our company.´ (Durden, 2021)
As a little refresher for your mind, Lt. Gen Michael Flynn, former President Trump’s first National Security Adviser, was notably set up by the FBI in an unauthorized ‘perjury trap’ over his conversations with the former Russian ambassador.
In January 2020, Flynn withdrew his guilty plea in the U.S. District Court in Washington, D.C, stating that he was ´innocent of this crime´ and was coerced by the FBI and prosecutors under threats that would charge his son with a crime. The entire FBI investigation of Flynn appeared to have been instigated by Russiagate operative Stephan Halper, who lied about Flynn’s relationship with a Russian academic. After the FBI’s malfeasance was uncovered, the Trump Justice Department dropped all charges against Flynn, conceding that the FBI had no basis to interview him on January 24, 2017. In the end Trump pardoned his former National Security adviser. But that didn´t keep Chase Bank from cancelling General Flynn´s credit cards.
If banks start to join `cancel´ culture it is time to switch to decentralized paying systems. Bitcoin is decentralized and can therefore not be touched by banks nor politics nor governments. Draw your own conclusions.
Interesting links:
The Trap of Digital Currencies and How Bitcoin Can Save You
Why BTC Will Survive CBDCs. Central bank digital currencies (CBDCs)
Reference
Durden, T. (2021, August 30). Chase Bank Cancels General Mike Flynn’s Credit Cards. Retrieved from ZeroHedge: https://www.zerohedge.com/political/chase-bank-cancels-general-mike-flynns-credit-cards
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