2 American companies control 69% of all credit cards and debit cards in the world, these two companies could essentially plunge entire economies into recessions by pulling their services and halting all electronic business transactions.

Why have so many countries allowed their economies to be extremely dependent on foreign payment processors? Even aside from the security risk aspect, 2 foreign companies earning 1% on every electronic transaction that occurs in your country is a huge amount of money, money that is leaving your country for no good reason.

>>511364826 (OP)
Capitalism is by design a system run by the bourgeois the bourgeoisie define their power through the control of capital.

just have sex

>>511364826 (OP)
There's some law here that makes withholding essential services without proper notice, a crime. Some bill like that would be cool.
https://codelibrary.amlegal.com/codes/shakerhts/latest/shakerhts_oh/0-0-0-15259
The key problem is that our bank to bank transfer system is fucking slow
>>511364827
I dislike how marx mutilated the definition of 'capital' to fit his prose. capital is usually an illiquid asset that someone owns and used to create money

>>511364826 (OP)
>it le leaves the country or however the beans are toasted
money leaves countries all the time

no friend marx did not mutilated, he is entirely right capital is a system, and in this system everything is capital, there is no fine line between "asset" and anything else

>>511364826 (OP)
The EU should ban them. Lots of American companies are rent seekers that doesn't actually add value.

>>511364830
>money leaves countries all the time
For goods and services. Visa and mastercard all the way in North America charging a Slovenian family 1% of transactions when they go grocery shopping down the street in Ljubljana makes no sense. Is moving money from your bank account to a business' bank account really something that requires the services of foreign payment processors a continent away?

>>511364833
Slovenians use credit cards?

I hope digital euro will be an alternative but they will probably fuck it up somehow.

>>511364826 (OP)
>>511364833
Governments don't care about the taxpaying goyim or establishing their own system.
The whole point of making cash money obsolete and encouraging electronic is that now virtually the entirety of the M1 supply is bank reserves which helps the work of central banks and the control of bond yields.

>>511364836
But governments and their central banks are essentially vassalising themselves to foreign payment processors by having all their electronic transactions depend on them.

>>511364829
>theres some law ...
the point is that, for example, if the USA went to war or otherwise soured relationships with kurdfuckistan or doofenshmirtzberg, USA could essentially crash their economy by having visa and MC stop doing business in that country. it is almost a national security threat that 90% of the world's countries allow american companies to run their economy, similar to how countries that depend on food imports to sustain themselves aren't actually sovereign states
>>511364833
its because the EU is just a bunch of US vassals (along with 90% of the rest of the world). if you hate it, then create your own companies. are you seriously blaming the USA because your countries suck and depend on US capital to function?

>>511364837
I don't really know how visa and mastercard work on that large international scale.
I only know that for a central bank's target rate policy to work on the lower and upper bound and for bills/notes to follow suit, there need to be an ample bank reserve regime, so it makes sense they'd encourage a system like that despite whatever chokehold two companies could potentially put you into down the line.

>>511364833
>for goods and services
sorry what is visa and mastercard?

>>511364840
A racket
>>511364839
It would be incredibly easy for governments to fund their own domestic payment processors, why they haven't already done so(apart from China and Russia) is a mystery.

>>511364841
no, it's a service, and you understand that debit cards fees are practically nothing?

>>511364838
Something like Visa and Mastercard isn't hard to create. They're only successful because of network effects and those can be broken by regulations. Sure Columbia probably couldn't create a payment processor but any European or East Asian country could easily do that.

>>511364826 (OP)
Basically American charging 2% on everything you do. Insane.
I avoid it where possible now and use every possible alternative.
Think the EU is close to replacing it altogether. They're making noises about it.

>>511365017
yet latin american countries have our own payment processors while the strong independent europeans are fully dependent on american dollars to function

>>511365109
It's more a rent seeking relationship. The US is dependent on Europe and East Asia. The fact is that no is dependent or care about South America.

>>511365102
you retards dont even use credit cards

>>511364826 (OP)
kikes always get their tip

>>511364827
>I know let's give ALL power & property to a central planner
>that will surely be less corrupt

>>511364829
>The key problem is that our bank to bank transfer system is fucking slow
ACH (Automated Clearing House) transfers take almost a week even in 2025. This isn't 1978 anymore.

>>511365230
how is the us dependent on europe and east asia? that makes no sense. there isnt a single EU country that wouldn't collapse in a week if the US sanctioned it, same goes for all those US puppet states in east asia. colombia would actually be stronger if the US fucked off and disappeared tomorrow, unlike the puppet states in EU/asia who only exist as a place for US troops to be stationed

>>511365469
For manufacturing, take chips (ASML and TSMC) as an example. You're angry because Columbia is irrelevant from an economic pov and that's why you're seething about Europe, East Asia, and Africa. North Africa is also more advanced than South America.

>>511364826 (OP)
Bitcoin fixes this.
It's literally why it was created

>jews provide a service
>chuds seethe

>>511364831
>no friend marx did not mutilated, he is entirely right capital is a system, and in this system everything is capital, there is no fine line between "asset" and anything else
Yes, capital is just wealth used for investment to generate a profit.
And capitalism is a system where the conventional route to wealth is profiting off investments, so you need capital upfront to get wealthy, typically (could be loaned or inherited or saved up). In capitalism, the big investment class are capitalists, because they typify the system of making money off investments. And in a capitalist system, the most powerful class are those investors/capitalists; governments work mainly to serve them.
Also, capitalism didn't come to be until the Early Modern Period, like the 1600s. There of course were markets before capitalism, but the ideology and convention of prioritizing investment to make a profit wasn't institutionalized as the framework of our social systems, as our societies' operating software if you will, until just a few centuries ago.
And capitalism really took off only 200 years ago with the Industrial Revolution, which enabled giant fortunes and wealth, unlike ever seen before, to be generated.

>>511365727
>Bitcoin fixes this.
It actually doesn't though. Have you ever bought something using Bitcoin? I have so I know that it doesn't fix this problem.

>>511365469
Dependence can be a two-way street, like in Hegel's Master/Slave Dialectic where the master is actually dependent on the slave.
The US, while dominating Europe, can also be dependent on Europe for markets.

>>511364826 (OP)
YOU NEED TO GO DEEPER.

Mastercard Corporation Ownership
>Vanguard: 8.6%
>Blackrock: 5.7%
>State Street: 4%
>JP Morgan: 3.4%
>Fidelity: 2.5%

Visa Corporate Ownership
>Vanguard: 9.4%
>Blackrock: 6.5%
>State Street: 4.8%
>JP Morgan: 1.5%
>Fidelity: 3.3%

Who owns these companies? Take a wild guess.

>>511366106
>can also be dependent on Europe for markets
How? The US has a very large trade deficit.

Just imagine the good to the world if these companies went bankrupt.

>>511364826 (OP)
once again its Blackrock and Vanguard...

>>511364832
When is wero wallet gonna launch for all the Eurozone?

>>511364827
tbqh these days the managerial class is in control
the bourgeois are wealthy but they generally aren't the decision-makers especially since it's rare for them to be majority shareholders which means the managerial class can mostly do whatever it wants with the bourgeois' money

when the bourgeois were decision-makers we had a much more free and open society

the managerial class always pushes for more control and tyranny

>>511364826 (OP)
stablecoins on L2 and Solana will solve this

>>511364842
"Nothing" that becomes billions when scaled up

>>511366185
The main thing the US sells to Europe, and the rest of the world nowadays, is tech, and European investors invest in our tech, creating some reliance of the US on Europe. Granted, Europe relies more on the US than vice versa, but the dynamic remains a two way street.

>>511365727
bitcoin isn't useful for small purchases due to gas fees.

>>511366275
The managerial class are corporate bureaucrats ushering in a kind of capitalist totalitarianism akin to communist totalitarianism.

>>511364835
They'll add their own censorship for sure

>>511366478
It's mostly overpriced junk like AWS and useless stuff like Facebook, again rent seeking. Meanwhile most the actual value added work is done in Europe and Asia by companies like ASML and TSMC. The US is unable to build chips without Europe and Asia.

>>511364826 (OP)
Crypto fixes this.

>>511366667
This is true.

>>511366113
>>511366235

I fucking hate Jews

>>511364826 (OP)
There are already laws in place to prevent this. It just needs to be enforced. Same way there needs to be laws preventing jews from banning you from using banks. In general but also because of arbitrary political opinions. This is a good opportunity, the people need to wake up and realize the banks and processors don't have power. They can be regulated, controlled, and reprimanded.

>>511364826 (OP)
How fucking retarded is everybody now? Are you retards still unware that jewish owned nations militarily threaten other nations into accepting their jewish “credit” monopoly?

>>511366275
And you are absolutely right that today, the managerial class does most of the decision making, and not the biggest capitalists themselves. However, the biggest owners remain immensely powerful and can often push out managers who displease them. Also, many top managers (like CEOs of major companies) are also capitalists (big investors), so some people straddle the divide between managers and owners.

>>511367109
Since legislators hate the american people and want to murder us, they won’t regulate the jewish companies whom they are allied with.

>>511366529
>gas fees
Lightning payments are 0.1%
Often on small payments the sats fee gets rounded up to nearest cent, making it free, from a fiat perspective.

>>511364826 (OP)
reddit spaced forced asmongold meme nobody gives a fuck about visa and mastercard when nukes would render us back to fuedal medieval sticks and stones you stupid fucking retarded niggers

>>511364826 (OP)
Why don't Europeans just use PEPSI?

>>511364826 (OP)
the only good thread rn and will be (((mod))) shadow banned and archived before you know it.

>>511368715
My thread was already kicked off of /int/ and moved here, and I was banned. Mods are such faggots

>>511365264
>only credit cards take a %
>ur a retard if you don't become enslaved to the jew
wew

Reminder: There's a bill called Fair Access to Banking Act which would impose steep fines on payment processors for violating legal purchases due to political or social reasons. I strongly encourage people to call up their representatives and ask that they support this bill and push back against censorship. Bill is S.401

>>511364826 (OP)
Stop being a Gooner, steam did the right thing even though they had to be forced to.

What? You expect me to have an AmEx or godlrbid a Discover card?

>>511364826 (OP)
What I learned from the takedown of Mindgeek/Pornhub is that credit card companies can simply decide that a business won't continue at any time.

>>511366113
>>511366235
But Anon, that's basically EVERY publicly traded company.

>>511364834
See pic, lé fagòt!

>>511364829
>There's some law here that makes withholding essential services without proper notice, a crime
inb4 force majeure

>>511364842
>fees are practically nothing
American Express has entered the chat
>muh i said debit card
cool your jets, pal.

>>511369560
You're stupid and naive if you think they'll stop with Steam.