You all know how hard I pound the table about using services of your enemies, and how crazy it makes me.
Well, I am subscribed to KiwiFarms founder J0sh on X, and he posted this:
original: https://x.com/XJosh/status/1919476240617996716
archive: https://archive.is/xU11p
"The irate black woman trying to debank @GiveSendGo says they're trying to switch to Stripe, as Square may have already decided to ban them."
I was eating lunch, and damned near spit out a mouthfull of food after reading that.
I swear, the right deserves to get their heads bashed in as often as they do, if they keep doing stupid shit like using either Square or Stripe.
For f*** sake, Stripe just de-platformed Odysee a few months ago over content, THEY ARE A HOSTILE PLATFORM, but GSG thinks they will somehow be able to thread the needle?
Slightly related tangent, does anyone else who's more for less regulation in industry to allow for innovation and entrepreneurs, find that bankers and financial services are excluded from this?
Like we've seen from de banking to 2008 crash what they do when they're not on a tight leash, they seem one of the few industries FULLY incapable of self regulation.
I'm in favor of de-regulating the banks.
You should see the Credit Unions struggle for air under the regulations. The Banking system is built to have regulation protect the major players from competition. The Great Recession happened not because banking wasn't under a tight leash, it was because specific banks were given funding to engage in mal-investment, they were flooded with cheap chinese money, and the government benefited from not investigating the fraud they knew was taking place. It's not that they didn't regulate the banks hard enough, it's that they were complicit in the scam. Once they realized the consequences of their fraud couldn't be maintained, they broke every law and stole every single dollar out of your wallet to keep the system afloat.
Think about it like this: did the Mafia gain power in the US because the government wasn't strict on crime? The FBI would like you to believe so, but the truth is that the Mafia rose to power because of regulation via prohibition, but also because politicians wanted to use the mob. It doesn't matter how many cops you have on a beat if they are getting bribed. And it matters even less how many cops you have on a beat when it's official policy not to interfere with the mob. And it matters to an even less degree when you realize that politicians are giving orders to both the mob, and the cops, to behave exactly as they currently are. The number of laws changes nothing. The problem is the whole racket.
That's why deregulation is a real threat. It intentionally removes the structure of the racket and allows for a power vacuum for competition to enter.
I doubt it can ever be regulated in any meaningful way. Finance is one of those industries that's completely incestuous with the government. Both politicians and bankers benefit when line go up; it's only when the music stops and line go down that they slap some token regulations to assuage the normies that the
Ponzi schemestock market/banks are totally safe now.The problem has nothing to do with "the industry", regulation vs deregulation or any other cope you can think of. The problem is the people running the industry and their blood feud with anyone who isnt part of their tribe. Nothing else matters.
Industries don't self-regulate, people do. If an industry doesn't generally self-regulate it's down to the sort of people that generally dominate that field.
Finance/Banking are more willing to take stupid, greedy risks because it’s not their money that is being gambled. They’re also addicted to “line go up”, and are especially vulnerable to it because it’s one of the few places you can cash out before the house of cards collapses with minimal legal risk.