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The Fallacy of Economic Gun Control


Monday, August 20, 2018 – Last week Louisiana took the bull by the horns. Literally. Citibank and Bank of America are joining with credit card payments processor Spotify and other financial Wall Street megalodon money sharks that have decided to ban most anything firearms-related from their services. Somewhat reminiscent of Delta Airlines’ refusal to honor its fare discounts to NRA members following the Parkland school shooting in February, the state of Georgia returned fire by cancelling a significant cost-savings on jet fuel amounting to a $40 million tax break for Delta’s Atlanta Hartsfield-Jackson airport hub.

Now the big banks – some of which benefitted greatly by taking taxpayer dollars when some of America’s financial institutions were in danger of going under during the 2008 subprime mortgage crisis – have decided to buck the United States Constitution and its Bill of Rights, more specifically, the Second Amendment. In doing so they are opening themselves up not just to significant financial damage but to potential Congressional legislation that could handcuff who they can and cannot consider a legitimate business. In the most current case, Louisiana is countering the two big banks by banning Citi and BofA from participating in a $600 million state bond deal because the banks refuse to finance certain gun retailers and/or the gun industry https://www.reuters.com/article/us-usa-guns-banks/u-s-gun-lobby-takes-aim-at-gun-hating-banks-citi-bofa-idUSKCN1IJ260 itself.

The continual bleating of the gun control lobby has done absolutely nothing to stop the criminal use of guns in America. Such groups continue to demonstrate that they simply don’t care about stopping crime; they prefer wholesale disarmament of Americans. Yes, they wrap their agendas in preludes of not wanting to take away guns from law-abiding Americans because they know that dog don’t hunt. But second best is to erect as many barriers as possible by strategizing with how to use economics to wound gun manufacturers (and their tens of thousands of employees), retailers, hunters, small recreational businesses, citizens who want self-protection and anyone else not fitting their utopian vision.

But now, as the ricocheting begins to bounce off the rocks of financial resistance, Big Finance will begin to take stock in what they have allowed themselves to swallow, courtesy of Everytown, Giffords, Brady and the liberal anti-gun media. As Ronald Reagan famously said when asked what happened following his attempted assassination and doctors gave him a second chance at a full term as president, “I forgot to duck.” The money lenders should learn to emulate that same advice.

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