Other coin dealers, gold and silver bullion dealers, and even jewelry shops around the country are experiencing the same phenomenon.
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Three separate coin shop owners have found their bank accounts suddenly shut down without any prior notice or explanation from their financial institutions.
Bank Shuts Down ‘Silver Stackers and Gold Stackers’ Shop’s Business and Personal Accounts
An Ohio-based coin shop owner recently took to YouTube to share alarming news: His regional bank, with whom he has been a customer for years, has suddenly decided to sever ties by closing all six of his business and personal accounts.
The coin shop owner, who operates a coin shop dealing in silver and gold, received certified letters from his bank stating, “After a recent review, we have decided to end our relationship with you and close your accounts… As stated in your account agreement, we can close your account at any time, for any reason, with or without notice. We will begin our closing process on September 6, 2023.”
What’s shocking is that the bank has declined to provide any reason for their abrupt decision, leaving the owner and his family in the dark. The letters came without prior notice, affecting multiple accounts, including those belonging to his children and wife.
A visit to his local branch revealed little; even the manager, with whom he has a good relationship, couldn’t get an answer for the sudden decision.
“They’re just closing all my accounts. They don’t want to do business with me. They won’t tell me why. I went to my local branch, who I have a good relationship with. Talked to the manager. She tried to find out. They wouldn’t tell her. So here I was left thinking, wow, what is going on? What do they think I could have done?”
The businessman emphasized his compliance with all necessary regulations, including maintaining an Anti-Money Laundering (AML) program. Nevertheless, the bank’s sudden move has not only disrupted his life but also has him worried about the future of his fully-legal and long-standing business.
“We follow all the rules here, licensed by the state. I have an AML program. I’m very careful what I do. I know how regulated this business is, and it is very regulated,” said the shop owner in the video.
“I’ve been in business a long time. I know what to watch out for and avoid certain things or whatever. So I adhere to the law, and I’ve never had a problem, never. And it’s very stressful when this happens. It’s never happened to me in my life. I’ve never had my banks closed, and I had multiple accounts. Even my kids account with them was closed and my wife’s account closed. And to me, this is just more confirmation to what’s going on.”
He added, “I don’t think the banks like this type of business. I don’t know what they think. We’re doing here because everything’s 100% legitimate, but for some reason they don’t like it. And we all probably know why. And it’s just a shame that they have that much power and that much ability and they could just close your stuff down just like that. Very unnerving. It’s very unnerving.”
This isn’t an isolated event. The owner is aware of at least three other businesses — two coin shops and a pawn shop — in Ohio that faced the same issue in recent years.
Commie Joe at his finest!
You sell sound currency. Direct competition to the fiat lie. They want to get rid of you. Go digital silver and gold.
Banks make their money on loan repayments, or large deposit interests. So if these businesses are solvent and not paying loan interests, the bank is perhaps not breaking even on those accounts. They might even be losing money.
What was on the written agreement that you signed when opened the account(s)? If those who were in charge at the bank(s) did not fully keep to the contract, sue them. IF the judge(s) do not use the constitutionally required “Good Behavior” and directly and completely follow the US Constitution, and whatever state Constitution that applies – FIRE them, charge them with treason, acting as a domestic enemy of the USA (Remember, we are a CONSTITUTIONAL REPUBLIC, NOT a “democracy”, we only have one (1), partially democratic process – elections). The people who SERVE within our governments – state and… Read more »
Right on!!
Globalcrats cannot handle states returning to explicitly Constitutional gold and silver based currency, such as Texas’ transactional-gold legislation does. Hence, shut down bullion sources that invulnerably becomes legal tender “constitutionally issued” at the state level.
It must always be remembered our states gave birth to a federal government, not the other way around, and that the 10’th Amendment secures both to states and our citizens, indelible “sovereign” rights!
Lucifer’s banksters. Wonder WHICH bank(s)??
NO OPTION FOR US TO SELL OUR COINS.
Time to move to Old Glory Bank, purchased by patriots with a promise to never sensor or close accounts for any political, religious or speech issue.
As far as I can tell, when you deposit your money into a bank, you are an unsecured creditor of that bank. If the bank freezes your account or loses your money, you can’t just walk into the bank and take their furniture, computers, and cash to compensate yourself for your losses. You are simply trusting the bank to give you your money when you want it back. Also remember that your bank loaned out TEN dollars for every ONE dollar you deposited (fractional reserve banking).