Posted on 07/05/2023 11:10:07 AM PDT by RandFan
It should be “completely unacceptable” for banks to close accounts on “political grounds”, a Home Office minister has said, as Conservatives weighed in on a so-called freedom of speech row prompted by claims from Nigel Farage.
Tom Tugendhat, the security minister, was speaking in parliament after the culture secretary, Lucy Frazer, urged regulators to take action against banks that shut off access to people with controversial views.
Farage, the former Brexit party and Ukip leader who is now a presenter on GB News, claimed last week that he was considering leaving Britain because he had been told by his bank that his accounts were being shut down.
While he said that the bank had given no reason, he believed it was due to his being designated in the past as a politically exposed person (PEP). These are typically political representatives, and their family members, whose accounts can be treated with extra due diligence by financial institutions.
Farage, who has appeared in the past on Russia Today, also claimed it was because it had been claimed in the House of Commons that he had been in receipt of payments by Russia.
(Excerpt) Read more at theguardian.com ...
Sounds like a good way to start a run on banks.
The UK needs to bring back Post Office Banking.
I know the FR BoomerCons will be hysterical over ‘muh capitalism, the free market.
But how is that less freedom for conservatives than what is going on now ?
USA WILL WELCOME YOU. I HAVE BEEN READING SEVERAL
EU COUNTRIES ARE EXITING THE EU SINCE IT IS FAILING FAST.
TOO BAD YOUR NOT A USA CITIZEN YOU COULD RUN FOR
SENATE AND EASILY WIN HERE.
Yeah. Farage can have the same in the USA.
In case you have forgotten.
https://www.sgtreport.com/2021/01/how-is-this-legal-multiple-banks-close-donald-trumps-accounts/
.
Should be unacceptable?
How about illegal? Totalitarianism?
You can bank with the Post Office.
BUT it’s a very basic service with a notebook or something like a savings account type thing.
No CCs or anything like that. Some people, older people do like it and have their pension paid this way.
Just wait until Klaus Schwab and his World Enslavement Forum take over the world all the banks will belong to Klaus
I had an overseas account in Singapore years ago when my company sent me to work there.
I kept a very small amount of money in it, but got notified that it was being closed — due to lengthy and costly reporting requirements on US citizens, required by US Treasury.
Nearly all international banks’ response has been to simply stop doing business with US citizens
Face it folks - you are captives of our bloated, woke government.
I didn’t know. I thought it had long since been privatized.
Looks like they are actually having a renewal due to bank branch closures.
some basic services. credit cards and insurance.
https://en.wikipedia.org/wiki/Post_Office_Money
That’s true also U.S is one of the few countries that will tax your income wherever you live in the world.
It’s quite bizarre that.
You’re basically internationally a slave unless you renounce citizenship (I think)
Very interesting I haven’t looked in a long time but do know a lot of older folk like the service and having their pension (SS) paid this way.
But don’t you get tax credit with the US for paying taxes to the country you’re in? I am assuming the taxable asset is in the country you are living in not in the US. I don’t know if its 100%. hard to believe that IRS would give up the full amount let alone any part of it.
It should be illegal for any financial institution to remove citizens from their bank.
The bank is regulated by the government.
Yes you do they have tax treaties so you wont pay double taxation or something but you have to pay Uncle Sam no matter where in the world you live.
It’s considered quite strange, no? Certainly odd.
And as PGR said it puts onerous requirements on financial providers therefore most won’t deal with US citizens because of it.
I expect the US version of the deep state to work off lists of credit card donations to Trump and other MAGA candidates, to tie those persons to their bank accounts, which will be frozen/seized during a state of emergency.
The state of emergency could invoke CoG (Continuity of Government) and be predicated on a conflict with China in the Pacific, or the old standby of “terrorism”, or “catastrophic climate change.”
They’ll find a way.
I had a relative working overseas many years ago and the rule at that time was that you had stay out of the US for at least 18 months before your overseas income could escape US taxes.
Don’t know if it’s still exactly that way now, but it’s probably something similar.
Justice for Nigel Farage!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.