Outrage: Bank Of America Freezes Funds of Licensed Online Gun Dealer: “We Believe You Should Not Be Selling Guns On The Internet”

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Mac Slavo
January 5th, 2013

Legal gun ownership in America is under attack on all sides. From pending bans that would restrict the sale, transfer and possession of certain weapons, to outright calls for repeal of the Second Amendment, we are entering an unprecedented era in American history.

So much so, that not only is the government now coming after your right to bear arms, but private sector businesses are following suit.

One of the country’s largest financial institutions, the ironically named Bank of America, has now taken it upon themselves to decide what is or is not a lawful business practice.

The following alert was posted on the Facebook page of licensed firearms dealer and manufacturer American Spirit Arms.

According to owner Joe Sirochman, the bank, which was recently caught engaging in the highly unlawful practice of laundering billions of dollars in Colombian drug cartel money, has put a freeze on American Spirit’s transaction deposits and has refused to release funds legitimately processed through the company’s web site.

In an apparent attempt to take the moral high road on the issue of gun ownership, Sirochman says the Bank of America manager he spoke to about the inaccessibility of his company’s funds told him the bank believes he “should not be selling guns and parts on the internet.


My name is Joe Sirochman owner of American Spirit Arms and I wanted to share my recent experience with Bank of America .(which we have been doing business with for over 10 years)…. Everyone is familiar with the latest increase in guns sales , dealers selling out of inventory , Manufacturers back logged for months , large revenue all generated in the last two weeks …. American Spirit Arms is no exception to the overwhelming demand . What we have experienced is that our web site orders have jumped 500 % causing our web site E commerce processing larger Deposits to BANK OF AMERICA ..Well, this threw up a huge RED Flag with Bank of America . So they decided to hold the deposits for further review , meaning that the orders/payments that were coming in through the web, ( being paid by the customer and that were shipped out by American Spirit Arms ), the BANK was keeping (UNDER REVIEW )… as you could imagine this made me furious…

After countless hours on the phone with BANK OF AMERICA I finally got a Manager in the right department that told me the reason that the deposits were on hold for FURTHER REVIEW …



…I flipped the F**k Out and told them that they have no right to make up their own new rules and regs… that we are a firearms Manufacturer with all the proper licensing FFL (Federal Firearm license ), SOT and that we follow all Federal and All States’ rules and regulations on shipping Firearms and parts ..and that we are also Audited by ATF and Homeland Security on a regular basis …

She said that she understands that but that the deposits will be released after they have a chance to review and clear them … I told her that This was unacceptable and the those deposits (that were a week old by now ) needed to be released ASAP, that we are a small business and rely on the revenue to run and stay operational.

After that being said another Manager got involved and released one of the deposits (to help out )… So far to date after two weeks of sales only 1/3 of collected internet sales have been released ..I am still pissed and looking for another Bank and options …

I just thought the public should know ..

I will keep everyone posted on new developments ..


Joseph P Sirochman
American Spirit Arms
16001 N Greenway Hayden Loop
Suite B
Scottsdale AZ 85260
480-367-9540 phone
480-367-9541 fax

Sourced through Ironic Surrealism via Steve Quayle

As Karl Denninger succinctly points out, what we have here is a private institution determining that their internal regulations and opinions supersede the Constitution of the United States of America:

*** you Bank of America.


It’s not enough to sell hinky deals in the housing market, to play “head in sand” with Countrywide, to improperly foreclose (even on houses they don’t actually have a loan on!) and more. 

Now we have them deciding to effectively steal by conversion, even if only temporarily a lawful business’ fundsthat supports Constitutionally-guaranteed Rights.

**** that and **** you Bank of America.

We second that.

Vote with your wallets and say no to any business that would trample your rights.


  1. The net wealth of all people in the US after settling out the Federal Reserve Bank is 1.423 Trillion, not even as much as one of the Megabanks listed below.

    Largest (Publically Visible) Banks in the World
    3 Trillion in Assets: Deutsche Bank Germany, HSBC UK, BNP Paribas France
    2 Trillion in Assets: Industrial and Commercial Bank of China, Mitsubishi UFJ Financial Group Japan, Crédit Agricole France, Barclays Group UK, Royal Bank of Scotland UK, JPMorgan Chase US, Bank of America US, China Construction Bank (CCB) China, Mizuho Financial Group Japan, Bank of China, Citigroup US, Agricultural Bank of China, ING Group Netherlands, Banco Santander Spain, Sumitomo Mitsui Financial Group Japan, Société Générale France, UBS Switzerland, Lloyds Banking Group UK

    Federal Reserve Liabilities in Trillions by Area
    Europe 0.799; Canada 0.029; Latin America and Caribbean 0.487
    Asia 3.922; Africa 0.044; Other countries 0.032

    Privately Held Assets in US 6 Trillion
    Net Assets of the Federal Reserve -4.577 Trillion

    Federal Reserve Assets +0.74 Trillion (Gold,SDR,For Curr,IMF)
    US Liabilities to Foreign Institutions -5.317 Trillion

    The privately held assets of American Citizens if we abolish & wind down the Federal Reserve System is +1.423 Billion.

    July 2012
    US Federal Reserve 740 Billion
    US Liabilities to Foreign Institutions 5.317 Trillion
    Liabilities reported by banks in the US 0.199 Trillion
    U.S. Treasury bills and certificates 0.354 Trillion
    U.S. Treasury bonds and notes Marketable 3.518
    Nonmarketable 0.002
    U.S. Securities other than U.S. Treasury securities 1.242 Trillion
    of which: long-term U.S. agency securities 0.543 Trillion
    of which: long-term U.S. corporate bonds 0.103 Trillion
    of which: U.S. corporate stocks 0.596 Trillion


  2. x axis – dollar per share of common stock of BAC(B of A)
    y axis – daily closing price by day in January


    Bank of America has 129 Billion dollars at stake as common stock market capitalization.
    Bank of America was the worst stock of 2009, falling as low as $3.14 a share.

    BAC mostly survives off expansionary Cantillon effects. During Quantitative easing, Newly Created money becomes more value than Old money; the megabanks like B of A have the best chance to get full value for newly printed dollars while the rest of the legitimate economy gets stuck with rising prices.


    • Dear Tor,

      BofA = Eugene Lawson

      “Eugene Lawson heads the Community Bank of Madison, then gets a job with the government when it his bank goes bankrupt. One of the looter’s cabal, he is a collectivist who abhors production and money-making.”

      From Wiki “List of Atlas Shrugged characters”

      • Dooowud Tohtullly!! – !!紈絝子弟完全

        “It’s a great responsibility,” said Eugene Lawson, “to hold the decision of life or death over thousands of people and to sacrifice them when necessary, but we must have the courage to do it.” His soft lips seemed to twist into a smile.

        “I knew them all. It was the men that interested me, not machines. I was concerned with the human side of industry, not the cash-register side. . . .They all knew me by sight. I used to come into the shops and they would wave and shout, ‘Hello, Gene.'”

        Eugene Lawson the former head of the Community National Bank in Wisconsin, bankrupted his employer with collectivist “humanitarian” loans to crony firms like the Twentieth Century Motor Factory.

        When the factory crashed and defaulted. It took Eugene’s job with it, and nearly the state of Wisconsin to boot. Eugene emerged unscathed and scurried off like the roach he was, to a cozy job in Washington at the Bureau of Economic Planning.

        Eugene is a looter of the spirit, a humanitarian in words but a sadist in actions. Eugene uses the jargon of humanitarianism in an attempt to conceal his jaded thuggery:

        “Well darling, it’s time for me to get to my job at the bank,” Gene said. “Fine, darling, his wife replied, “don’t forget to take along your mask and gun.”

        architecture arcana hidden in plain sight.

  3. Wow, what does it take to get people to quit the mega-banks? BofA has been hostile to gun owners, individuals, and small businesses for dozens of years! Most local banks and credit unions can do everything the mega-banks can, can do it better, and they can do it with less expense. The only economic advantage to a mega-bank is if you are a multinational corporation that needs to move millions of dollars across national borders. If you don’t fit that profile, you should not deal with the mega-banks at all.

    • Dear Shoal Creek,

      BofA is the worst.

      Had an account with them briefly in LA 25 years ago.

      They screwed up but insisted they didn’t. Cheated me out of a hefty sum.

      They had the worst attitude toward customers I ever encountered.

      Never deposit your money in BofA.

    • Absolutely!

      I moved all our personal and business accounts to a small local Houston-only bank.

      What a difference!

      I literally walk in and both tellers recognize me. “Do you guys have five grand available? Great! Thanks. And I’ll need to transfer that from business to savings, please, before you give me the cash…Yes I’ll take hundreds thanks.”

      Envelope of money, off to the coin store for gold…and I didn’t even show ID!

      Love that bank–Bank of Houston. Nice people. No fuss.

      I even asked the pretty teller if she’s filling out SAR’s* on me. She’s either an extremely convincing liar or they haven’t.

      * Suspicious Activity Reports–they’re required to fill out a certain number per month and tattle on their customers to the PTB. You know–in case we’re terrorists. Or drug dealers. I mean, ones that aren’t sanctioned by the government–freelancers. Can’t have that, it’s competition–and competition is a sin!

      • Hi Meth,

        Yesterday I went to our (mega)bank – BB&T. We have a joint checking account, as well as a business account there. I’m at the drive-thru, with four checks. Two are made out to me. Two are made out to my wife. All signed. I’m depositing almost all the money, with the exception of some pocket change ($35). The teller proceeds to tell me that she can’t deduct the pocket change from the total amount because my wife isn’t in the car and “new policy” requires that the person a given check is made out to be physically present in the car before they can honor a withdrawal request. I blow my stack – which I rarely do. I asked in a not nice way: What is the purpose of a joint checking account? Blank stare. Bureau-speak response. I then point out that of the four checks tendered, the two written out to me are individually a lot more than the fucking $35 I wanted. At this point, my loud berating summoned a manager, who gave me the same rigmarole. They ended up depositing all four checks, then doing another, separate withdrawal transaction – for which I had to sign, etc. Can you believe this?

        These motherfuckers have lost my business. (This is just one of several recent annoyances.) We’re going local – ideally, a credit union.


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