S.401 - Fair Access to Banking Act

[whatchamacallit]

Nothing. The bad guys always win.

He said it's over, we're so back

 

[Glowie]

Looking ratings on certain post here, there are angry feminists over people making fun of retards who are taking credit of this like Null pointed out

 

[Wuhan Wet Market]

Debanking someone in the USA is such a crazy thing to imagine. this is on the same tier as CCP... I worry that USA will stoop to the same level to control free speech or used to destroy the lives of those accused of "wrongthink". very scary times we live in.

 

[LarpBait]

I'd like to everyone coexist and not fight amongst each other and for everyone to have 50 acres, and a pony, but unfortunately I live on planet Earth.

Is your point that using cash is unrealistic? I literally went to Walmart and paid for my groceries in cash the other day.

I do not know what hell-hole you have to live in for people to not accept cash, but wherever it is, you need to get out of it.

If you have the option to do the better thing, just do it. Unfortunately on the internet we don't have an equivalent to cash, so its understandable why people make the wrong choices here.

How big is your tugboat?

unfortunately the trump administration is a bunch of raycis and i never qualified for welfare despite being a big, bodacious, and beautiful black kween who needs theys nails done and my ytboi bbc enslavement reparations to pay for it or however the cotton is picked.

 

[harbringer883]

 

[harbringer883]

The nigger cattle know. But will they stampede?

I feel like Null and the Kiwifarms screaming into the void for so many years is finally starting to echo though. These talking points are literally what has been bitched about around here for years.

nothing ever happens

 

[Seething Bazelgeuse]

The nigger cattle know. But will they stampede?

I feel like Null and the Kiwifarms screaming into the void for so many years is finally starting to echo though. These talking points are literally what has been bitched about around here for years.

The nigger cattle don't give a fuck because it will never be relevant to them. Assmongoloid will make a video, some of them will talk about it for like 3 days, and then they'll forget about it and move on. The opinion of the average normoid is that only the truly reprehensible are debanked or shunned from payment processors and if you just work hard enough you can find a way to make money. They will never understand how much power payment processors have or how much they're being raped because from their perspective it doesn't have any effect on them, even though they lose potentially thousands a year in transactional fees.
tl;dr: as stated above, nothing ever happens.

 

[Inertial2040]

Both parties admittedly espouse Neoliberal ideology, which is why they always seem to agree on the most fucked up shit. They disagree on shit like abortion, but Neoliberalism. There is no political power in the US that isn't Neoliberal, including Trump.

The United States is literally just one big corporate bureaucratic tax farm designed to siphon money out of everyone and everything at every level. This what the government, both parties and virtually all of their politicians stand for.

 

[Mordecai "3 Finger" Brown]

a good chunk of Canadians lost bank accounts (And still haven't got them back 3 years on) all because they donated $5 to the wrong cause.

"A good chunk" is probably debatable. I believe the official total was around 130 Canadian citizens that had their bank accounts frozen by Trudeau's enactment of martial law and specific terrorist financial sanctions brought against the trucker protest 3 years ago.

Still horrendous, still an overreach, still unprecedented, but overall still a very small sample in a nation with 40 million plus.

The frozen bank accounts got a lot of negative international press, but their impact was actually pretty transient. He enacted martial law 2 weeks into the protest, then brought in thousands of militarized mercenaries to beat the shit out of truckers and little old ladies within the week. He broke the back of the movement with violence, cleared the streets and a lot of the bank freezes were reversed soon thereafter.

The bigger problems were the ripple effects of the hacked donor list and the fervent tracking by authorities of anyone remotely associated with the movement.

People were fired for small donations because of the leak. Police officers were sanctioned and forced to work for weeks without pay. Small town politicians were arrested and charged with lawfare. Independent contractor truckers had their business licenses permanently revoked.

There was also a lot of later spontaneous "Risk Management" letters from banks showing up in people's mailboxes says that the institution was ending their relationship for unspecified reasons, closing accounts and canceling mortgages.

Part of the scariest parts were that after the martial law terrorist financing provisions dropped, it was a complete clusterfuck how it was enacted. The Mounties did submit a list of about a few dozen targets they wanted debanked.
But otherwise, the decisions to who and what got debanked was left to the auspices of random financial institution employees. The legislation instructed them to freeze accounts of anyone they personally suspected to be sympathetic to the protest.

So essentially this resulted in bank tellers & aggie bureaucrats sifting through social media accounts to decide whether to cancel farm loans.

Is your point that using cash is unrealistic? I literally went to Walmart and paid for my groceries in cash the other day.

I do not know what hell-hole you have to live in for people to not accept cash, but wherever it is, you need to get out of it.

Many professional sport stadiums in North America have gone completely cashless post-COVID.

So you have colosseums with 30-70k people milling around where cash isn't accepted payment for any services at the venue.

Not an essential service, but a good example how a switch can be flipped and suddenly anything but e-payments bars you from participating.

 

[Tito Dick Dickman Baby]

In Europe, they have the IBAN system.

They named a whole system of banking after your Blockland account?

 

[The Mass Shooter Ron Soye]

Please sign my petition on action.ACLU.org. We can do this, folx.

https://bsky.app/profile/acvalens.net/post/3luo6gxaz7222 (archive)

Mastercard: Sex Work is Work. End Your Unjust Policy.​

 

[ThinkThankThunk]

I do not know what hell-hole you have to live in for people to not accept cash, but wherever it is, you need to get out of it.

Around here an increasing number of local places have stopped accepting cash because they can't get insurance if they do, and the banks won't work with them if they aren't insured. Cash is such a small portion of sales that it's not worth the insane price of high-risk insurance to handle it. I wouldn't be surprised if that was the result of processor strong-arming too, but it's hard to say when you're dealing with so many genuinely evil rackets at once.

 

[PhoBingas]

"A good chunk" is probably debatable. I believe the official total was around 130 Canadian citizens that had their bank accounts frozen by Trudeau's enactment of martial law and specific terrorist financial sanctions brought against the trucker protest 3 years ago.

Maybe I should have been more concise and said a good chunk of the people who donated to the truckers, my bad.

 

[LarpBait]

Around here an increasing number of local places have stopped accepting cash because they can't get insurance if they do, and the banks won't work with them if they aren't insured.

genuinely horrifying to hear. I would try to jump state if I had that kind of problem, but not everyone is that fortunate. 2nd best thing, IMO, is to just start pressuring your friends into using cash and bullying them for being a cardcel.

your average kiwi has 1.3 friends (including mom), so i doubt this will make any reasonable dent, but its still something against the BNWO globalhomo horde

 

[Fatpacks]

genuinely horrifying to hear. I would try to jump state if I had that kind of problem, but not everyone is that fortunate. 2nd best thing, IMO, is to just start pressuring your friends into using cash and bullying them for being a cardcel.

your average kiwi has 1.3 friends (including mom), so i doubt this will make any reasonable dent, but its still something against the BNWO globalhomo horde

The entire world will go cashless by 2040. Bet on it.

 

[N Space]

Honest and probably dumb question, do payment processors handle bank transfers?

 

[Slap47]

Making this OP a bite sized video and hoping Asmongold reacts to it is the best path forward.

 

[mindlessobserver]

Honest and probably dumb question, do payment processors handle bank transfers?

No, those use peer to be peer networks through an automatic clearing house.

The issue is that the transfer cannot be instant. Both the sending bank and the receiving bank have to update their ledgers, and this isn't done until the end of a business day. Which is why ACH transfers take 1 to 3 business days.

When you pay with Visa, your money is actually not going to the merchant. Visa sees that you have the money and puts a transfer order on your account. Visa then gives the merchant its own money. It's only instant because Visa ponies up it's own cash. Not yours.

Its why you see "pending" all the time when you buy shit. Visa basically initiates an ACH transfer from your account to its account. But it still takes the same amount of time to settle. Usually 1 to 3 days.

Because your bank has to release the funds, the receiving bank has to accept the funds, and both banks ledgers have to be updated. What's funny is while your money is still pending being transferred your bank can still loan it out and charge interest. There is an incentive to make the process slow.

Visa serves a useful role in providing instant payment while not actually making it instant.

 

[AnOminous]

No, those use peer to be peer networks through an automatic clearing house.

The issue is that the transfer cannot be instant. Both the sending bank and the receiving bank have to update their ledgers, and this isn't done until the end of a business day. Which is why ACH transfers take 1 to 3 business days.

When you pay with Visa, your money is actually not going to the merchant. Visa sees that you have the money and puts a transfer order on your account. Visa then gives the merchant its own money. It's only instant because Visa ponies up it's own cash. Not yours.

Its why you see "pending" all the time when you buy shit. Visa basically initiates an ACH transfer from your account to its account. But it still takes the same amount of time to settle. Usually 1 to 3 days.

Because your bank has to release the funds, the receiving bank has to accept the funds, and both banks ledgers have to be updated. What's funny is while your money is still pending being transferred your bank can still loan it out and charge interest. There is an incentive to make the process slow.

Visa serves a useful role in providing instant payment while not actually making it instant.

It's amazing how many people don't know this about a process that is absolutely critical to the modern economy we live in. If you asked them what they think about "payment processors" they would literally have no idea what you were even talking about. They'd stare at you like stunned sheep.

And if you tried to explain Check 21 and ACH, their eyes would glaze over. It's literally incomprehensible to the vast majority of people, you know, the ones called retarded holes, whatever sex they may be.

This isn't accidental. This is on purpose. They make the basic process of paying for things so complicated and difficult to understand on the physical level that they don't give away the very simple process that they are deciding what you are allowed to buy or sell.

To the normie, you just touch a card to a pad, or even just have it in your pocket and it automagically pays for you. You don't get a look at the back rooms where what you're allowed to buy is decided for you by unelected corporations.

 

[Piss Jugman]

So what do we do other than live like the Amish and trade services in lieu of money?

Lowkey that might just be the most viable thing to do on a personal level. Of course not to the full amish-extent, but some sort of self-sustainability lifestyle should be more normalized. If all of our systems are ran by pedophiles who use us like cattle, then severing as many ties to those systems as possible seems like a reasonable solution. Surround yourself with a tribe of people you trust your life with, then stack bread in polite society until you all have enough capital to remove yourselves from the majority of the systems. You'd still have to appease overlords in some fashion, like via property tax and shit, but the overall influence they'd have over your life and the lives of your loved ones would be greatly diminished