Link to DailyWire article below.

https://www.dailywire.com/news/the-government-can-destroy-anyone-how-an-irs-led-global-alliance-ruined-an-innocent-american-banker
Twitter thread summarizing article below.

IRS targeted a conservative economist with the 'largest tax investigation in the world' but came up empty. Then leaked its investigation to the media, which offered his policy views on taxes as evidence of guilt. Then authorities cited 'negative press' to close his bank. pic.twitter.com/HajTzORWkL

— Luke Rosiak (@lukerosiak) July 13, 2023

Quote:

---

An int'l task force missed liberal virtue-signaler SBF in the Bahamas, but set their sights on someone who might have crossed their radar not through surreptitious criminal conduct, but appearances on conservative media. Economist Peter Schiff publicly advocated for low taxes.
…
Schiff ran a bank in Puerto Rico. The IRS subpoenaed every record and cannot point to a single customer, much less bank management, who committed tax fraud/money laundering using the bank. But by then, it had already boasted about its big investigation too much to come up empty.
…
Despite finding nothing+not charging it, the IRS flew to Puerto Rico to hold a press conference suggesting the bank was guilty of crimes. A regulator then claimed it was "critically insolvent" and ordered it turned over to a trustee, who immediately discovered that wasn't true.
…
A court found the media guilty of defamation. But authorities had already gotten what they wanted. Schiff lost $10M. The trustee tasked with liquidating the bank hasn't returned the $65 million in deposits to customers a year later. The cops proclaimed their probe a 'success.'
…
Read @realdailywire's newest long-form feature, a wild tale of crooked cops, stashes of gold, and an Australian judgeHugh Jackman's brotherlaying down the law against a lying media

---

The fascists are in control.

This is insane.

Quote:

---

Then they destroyed him anyway. Authorities leaked the existence of the investigation to the media, then cited the resulting negative publicity to take the bank from him, costing him more than $10 million.

The IRS' top criminal enforcement official flew to Puerto Rico to hold a press conference where he gave the impression that the IRS was shutting down Schiff's bank for facilitating tax evasion and money launderingeven though, if you were paying close enough attention, that was not the case.
Schiff's Euro Pacific Bank (EPB) was actually being closed by a Puerto Rican oversight board that claimed that it was "critically insolvent." In other words, the board claimed the bank might not be able to return its customers' money if there was a run on accountswhich is what happened in the case of Bankman-Fried. But Schiff's bank catered to ultra-conservative clients who prioritized keeping their money over earning interest. The bank didn't lend out its deposits, and profits came mostly from charging fees for transactions. EPB kept its depositors' money on hand, making it perhaps the most run-proof bank in the world.

The Puerto Rican regulator later acknowledged EPB had more than enough cash to cover all of its deposits. Nonetheless, Puerto Rico put it into receivership to "liquidate." It said Schiff couldn't be permitted to own it because of "negative press": articles based on law enforcement officials leaking the existence of the investigation which ultimately found nothing. A year later, the receiver has not returned any of the deposits, amounting to more than $65 million, to the bank's thousands of customers.
…
In 2018, Schiff did something apt to cause panic inside the IRS: He went on the Joe Rogan Experience, the largest podcast in the country, and encouraged people to move to Puerto Rico. It's a U.S. territory with great weather and beautiful women, he said. Andperhaps most importantlythe U.S. tax code exempts its residents from the federal income tax.

"I live in Puerto Rico. And thanks to my appearance on your show, a lot of other people now live there, too," he said in a subsequent appearance. "I've just got to tell you how many people I run into and they say, 'Peter, you know, I moved here because of you.' Really, how'd you hear about it? 'Oh, Joe Rogan.'" Each one of those transplants was availing themselves of a provision set up by the U.S. itself, but they also represented dollars to which the IRS was no longer entitled.

The same year, the governments of the U.S., Australia, Britain, Canada, and the Netherlands teamed up to create the "Joint Chiefs of Global Tax Enforcement," or the J5, mirroring the "Five Eyes" program of the intelligence community. J5 was born out of embarrassment over a scandal known as the Panama Papers, in which hacked emails from a law firm in that Latin American country illustrated how wealthy westerners, including then-British Prime Minister David Cameron, had benefited from stashing money in offshore locations.

---

The IRS shouldn't exist.... talk about wasteful government.

Abolish the IRS.

Defund the IRS

FAT SEXY said:

---

Was Schiff targeted because he routinely rakes the FedGov over the coals on live TV for their terrible monetary policies?

Trying to make an example of him and all that?

---

The IRS has been targeting Democrat political opponents since Obama was in charge.

Quote:

---

A year later, the receiver has not returned any of the deposits, amounting to more than $65 million, to the bank's thousands of customers.

---

Sounds like an organized theft by Govt Officials. Perhaps Schiff should have been loaning money out instead of keeping it mostly on hand in the bank. All that cash must have been a really tempting target.

Quote:

---

The IRS has been targeting Democrat political opponents since Obama was in charge.

---

That is a fact. Now multiple other agencies such as DOJ, FBI and CIA are being politicized and used to target and go after political opponents.

The Dems/Libs will now never let go of power. They know that they would be exposed if there is ever another Republican in office. They will never ever allow another election to be lost or another congress to be run by Republicans.

I ****ing hate liberals. including the ones here.

PCC_80 said:

---

Quote:

---

The IRS has been targeting Democrat political opponents since Obama was in charge.

---

That is a fact. Now multiple other agencies such as DOJ, FBI and CIA are being politicized and used to target and go after political opponents.

The Dems/Libs will now never let go of power. They know that they would be exposed if there is ever another Republican in office. They will never ever allow another election to be lost or another congress to be run by Republicans.

---

Hussein promised fundamental transformation.

When he was reigning in DC, I often spoke of his Chicago thug-style politics. That's what this is.

What is wild to me, they are targeting a non-US State in Puerto Rico. When will these ass hats target Ukraine and the boondoggle of spending there?

Harry Stone said:

---

I ****ing hate liberals. including the ones here.

---

All of them are the enemy of me, my country, and my children. F em all.

Tea Party said:

---

Abolish the IRS.

---

AGREED!!!

Fair Tax for the win!!!

The Fair Tax Act would eliminate the IRS and turn most tax administration responsibilities over to the states. While the bill implicitly assumes that states could use existing state sales tax structures to administer the new tax, the proposed "Fair Tax" is radically different from existing state sales tax laws.

https://www.americanprogress.org/article/the-fair-tax-act-would-radically-restructure-the-nations-tax-system-in-favor-of-the-wealthy/#:~:text=The%20Fair%20Tax%20Act%20would%20eliminate%20the%20IRS%20and%20turn,existing%20state%20sales%20tax%20laws.

If Lois Lerner and her IRS minions would have been criminally charged/brought to trial/found guilty and lost their govt pensions for what they did .... things like this latest overstep would not happen.

TAMU1990 said:

---

Defund the IRS

---

Well our elected officials including republicans funded 87,000 more IRS agents so not seeing that happen unfortunately

Zero accountability for the alphabets

Trajan88 said:

---

If Lois Lerner and her IRS minions would have been criminally charged/brought to trial/found guilty and lost their govt pensions for what they did .... things like this latest overstep would not happen.

---

Agreed.

Read your Solzhenitsyn

AGHouston11 said:

---

TAMU1990 said:

---

Defund the IRS

---

Well our elected officials including republicans funded 87,000 more IRS agents so not seeing that happen unfortunately

Zero accountability for the alphabets

---

The majority's of congress (both sides) aren't conservatives. They actually look a lot like the republicans here in the Texas house.

FTAG 2000 said:

---

AGHouston11 said:

---

TAMU1990 said:

---

Defund the IRS

---

Well our elected officials including republicans funded 87,000 more IRS agents so not seeing that happen unfortunately

Zero accountability for the alphabets

---

The majority's of congress (both sides) aren't conservatives. They actually look a lot like the republicans here in the Texas house.

---

UnikParty