Season 2 · Episode 546

The Age of Financial Repression—Part 1

How Banking Became a Tool of Control

January 15, 202648m 53s

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Show Notes

For most Americans, losing access to a bank account sounds like a customer-service hassle—not a political problem. But what if your ability to get paid, pay bills, run a business, donate to a cause, or even shop online or withdraw cash at an ATM can be shut off quietly, without a trial, without an explanation, and without a meaningful way to appeal?

In this two-part episode, Ron Steslow is joined by economist Jorge Jraissati, President of the Economic Inclusion Group, to unpack the growing reality of debanking and the compliance machinery behind it.

In this first episode, they trace how post-9/11 AML/CFT and KYC regimes turned banks into de facto enforcement arms of the state—creating mass reporting, privacy erosion, and incentives to cut off customers based on “risk,” stigma, or perception rather than proven wrongdoing.

They also explore how this system becomes ripe for weaponization—by authoritarian regimes, domestic actors, or simply the structure of the rules—especially when finance becomes transnational, opaque, and increasingly disconnected from due process.

Learn more about the Economic Inclusion Group: https://econinclusion.com/

Get in touch with Jorge: [email protected]

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