Timcast IRL · January 15, 2022 · 2h 0m
Timcast IRL #447 - Bank TERMINATES MyPillow CEO Mike Lindell's Bank Accounts w/Darren Beattie
Episode Recap
Timcast IRL episode 447 aired on January 15, 2022, featuring Tim Pool and co-hosts discussing the breaking news that Minnesota Bank and Trust had terminated all bank accounts associated with MyPillow CEO Mike Lindell. The hosts played a recording from Steve Bannon's War Room show revealing that the bank, a subsidiary of Heartland Financial, cited reputational concerns as justification for closing Lindell Management, Lindell Outreach, Lindell Recovery Network, Lindell TV, Lindell Foundation, Lindell Publishing, Frank Speech, Michael Lindell Personal, and My Store accounts. The conversation evolved into a broader critique of political debanking, with hosts comparing Lindell's situation to Julian Assange being shut out of traditional banking in 2010 and forced into Bitcoin. The panel argued that major banks knowingly facilitated Jeffrey Epstein's accounts despite extensive red flags, yet legitimate political dissidents face systematic financial exclusion. Ian Crossland advocated for credit unions and nonprofit banking alternatives, while the hosts emphasized how cultural enforcement through banking institutions functions as a domestic equivalent to international economic sanctions against adversaries.
TL;DR
- →Minnesota Bank and Trust terminated all bank accounts associated with Mike Lindell and his numerous businesses, citing reputational risk concerns.
- →A recorded call revealed the bank executive worried about potential subpoenas and media scrutiny for associating with Lindell.
- →Hosts compared Lindell's debanking to Julian Assange being shut out by Swiss banks and PayPal in 2010.
- →Panel discussed how major banks like Deutsche Bank and JPMorgan Chase facilitated Jeffrey Epstein's accounts despite known red flags.
- →Ian Crossland promoted credit unions and nonprofit banking as alternatives to profit-driven institutions.
- →Hosts argued this represents cultural enforcement where government doesn't need to make things illegal to effectively deplatform dissidents.
Key Moments
- 0:00OpeningHosts introduce the episode and Ian Crossland joins the discussion about banking and financial freedom.
- 2:03Main Story BreakingDiscussion begins on Minnesota Bank and Trust terminating Mike Lindell's accounts, listing all affected businesses.
- 2:25Bank Recording RevealedHosts play Steve Bannon's War Room recording of the bank executive's call explaining their reputation risk concerns.
- 3:44Political Debanking PatternComparison to Jeffrey Epstein being allowed to bank with major institutions despite criminal activity.
- 4:06Bitcoin AlternativeJulian Assange's debanking leading to his cryptocurrency fortune discussed as precedent.
- 5:37Domestic Economic SanctionsAnalysis of debanking as the government's equivalent of international sanctions applied to American citizens.
- 7:04Credit Union AlternativeIan Crossland advocates for nonprofit banking and credit unions as safer alternatives.
Notable Quotes
“I would never go anywhere near if they, if you're running a business and your bank gets shut down because they're scared of bad PR, do not bank with these people.”
— Tim Pool · opening commentary on the bank termination
“Jeffrey Epstein was able to bank with JPMorgan Chase, Citibank, Deutsche Bank. He never got debanked. Who gets debanked? The MyPillow guy and then people like Julian Assange.”
— Tim Pool · main discussion on double standards in banking
“The credit union industry was able to absorb a lot of losses because they're not in it for a profit. During all the Occupy stuff, they gained billions of dollars. People were switching over.”
— Ian Crossland · advocating for credit unions
“Debanking is what the United States government does to adversary governments. It is the domestic recapitulation of economic sanctions.”
— Tim Pool · analysis of financial censorship as political tool
“You don't need to make something illegal. You don't need to violate someone's rights to still violate their rights.”
— Ian Crossland · on cultural enforcement over legal enforcement