🚨Banks just spent $56.7 million to kill a law that would've let you earn interest on your own money.
And almost nobody is talking about it.
Here's what happened.
The CLARITY Act passed the House with 294 votes. Nearly 300 lawmakers Republican and Democrat agreed it was a good idea. It would've given crypto a legal framework to operate under federal law and here's the part banks couldn't stomach let platforms pay you returns on stablecoin holdings.
Think of it like a savings account that actually pays you something.
Banks panicked.
JPMorgan, Bank of America, and Wells Fargo threw everything at it. The American Bankers Association spent $56.7 million lobbying against a single provision.
On March 5th, they rejected a compromise the White House had spent weeks quietly brokering between both sides.
They didn't negotiate. They walked away.
So the White House did something interesting. They published the math.
Their own Council of Economic Advisers ran the numbers on what the banks' proposed yield ban would actually do for lending in America. The answer: $2.1 billion. That's 0.02% of outstanding loans.
Two hundredths of one percent.
And 76% of even that tiny number flows straight to the biggest banks not community banks, not credit unions, not you.
Let that sink in. They torched a bipartisan bill, rejected a White House compromise, and stalled legislation that could define America's financial future to protect 0.02%.
The real number they're protecting is the hundreds of billions they collect every year from customers who have no competitive alternative. Your savings account pays 0.01%. Their profits are record-breaking. That gap is the business model. The CLARITY Act threatened it.
Now the Senate Banking Committee has missed one markup deadline, blown past a White House target date, and there's no confirmed date on the calendar. The midterm election cycle is closing in fast. If this doesn't move in the next few weeks, it's dead until 2027.
Meanwhile Europe has a framework. Asia has a framework. The U.S. is handing over regulatory leadership and the jobs, investment, and innovation that come with it because three banks don't want you earning interest on your money.
Even a former CFTC Chairman said banks need this law more than crypto does. It would've dragged them into the future of digital payments whether they liked it or not.
They didn't block this bill because it was dangerous.
They blocked it because it was good. For you. And bad for them.
$57 million to protect their monopoly on your wallet.
That's not consumer protection. That's just a cartel doing cartel things.
Outstanding find by Maze - GREAT throwback to Dianne Feinstein in 1993:
"Should people be able to come to this country, get on Medicaid, give birth to a baby, and then go back to their home country? The answer is no."
REPOST this absolutely EVERYWHERE.
#thinblueline#lawenforcement
Now that Artemis II has launched we have 10 days to get everyone on Earth a Planet of the Apes costume so we can do something hilarious when the astronauts return 😁
CALIFORNIA DEMOCRATS JUST LEGALIZED STEALING YOUR BITCOIN
This Communist Hellhole passed a bill to SEIZE your BTC after just 3 years of ‘inactivity’ on exchanges…under fake ‘unclaimed property’ laws.
This is GOVERNMENT THEFT and outright communism.
🚨 JUST IN: President Trump is going inside the Supreme Court with AG Pam Bondi for oral arguments on ending birthright citizenship for illegals.
This is unprecedented.
All eyes on the Court.
What President Trump's OBBB does do is create a $50 billion Rural Health Transformation Fund - a historic investment to drive the reforms, innovation, and changes we need to change a long-failing status quo and ensure rural Americans have healthcare access.
whitehouse.gov/fact-sheets/20…
🇺🇸 PRESIDENT TRUMP CONFIRMS THAT 0% INCOME TAX IS COMING VERY SOON!
“The money we’re taking in is so enormous, you won’t even have income tax to pay”
When will it happen...
Police in Central Park thought they were hunting down a skilled pickpocket after multiple visitors reported their phones mysteriously disappearing without anyone noticing a thing.
But while officers were questioning people in the park, a raccoon suddenly ran up, grabbed a phone, and exposed itself as the real thief. After chasing it through the trees, police found a hidden stash of stolen phones tucked away in a raccoon’s hiding spot.
They later announced that anyone missing a phone in Central Park could check with the station to claim it.
🚨 Gen Dan Caine just unloaded a brutal update on Iran Operation Epic Fury is wiping them out 5000 penetrator bombs smashing underground missile sites 120 vessels gone 44 minelayers erased and now US forces pushing deeper hunting and eliminating attack garrisons this is total destruction not a warning so how much longer can they survive this pressure
🚨 JUST IN: The US House has PASSED the BOWOW Act, which makes any non-citizen who assaults or harms a federal working dog AUTOMATICALLY deportable, 228-190
This comes after an Egyptian man KICKED CBP Detection Dog Freddie, who caught him SMUGGLING illegal goods into the US
Good boy, Freddie!
Of course, most Democrats voted against this.