re: New PayPal Policy Lets Them Pull $2500 From Users Accounts If They Promote ‘Misinformation

quote:

---

I don't know what your alternative is to letting companies make their own decisions and having the market react.

I don't think governmental regulation will create the net-positive effect you want, at least consistently. That would also possibly merge into fascism. THAT is authoritarianism.

What's the third option?

---

The problem is the government regulation itself

To start up your own credit card or banking company you have to follow a trillion volumes of government regulations

Its not a free market. Its near impossible to compete.

quote:

---

What's the third option?

---

There are already conservative groups working on alternatives to Paypal.

Banking is a different monster as sadly there is so much consolidation that soon there will be no more hometown banks left and all will be controlled by the 4 or 5 major banks.

I started with Cameron State Bank which was then Iberia that was bought out by First Horizon which is now merging with TD bank.

quote:

---

I don't know what your alternative is to letting companies make their own decisions and having the market react.

---

There is no market anymore, not in the true sense that decisions like that would have any impact.

With how investments are now only available through entities who support and extol concepts such as ESG scoring, very few, if any, businesses with your libertarian “values” will exist soon enough.

It is time you accepted reality. Your libertarian “values” don’t exist outside of conferences where weird, fat people strut around on stage in their underwear.

These entities are monopolies. There is no market correction.

And there is no way to fix it. It is too entrenched.

quote:

---

So it begins.

---

Oh, it done begun a few years ago - this is just the next of many steps to complete “redistribution” based upon ESG scoring.

Paypal has been confiscating entire accounts due to "damages" for breaking any of their rules for a LONG time. Not just $2500 but tens of thousands of dollars.

So the OP is lying to get us riled up?

They cannot go and steal $2500 from your account, they can freeze a transaction. Two very different things.

Already cancelled my citi credit card and went with a more local option. Just got rid of PayPal. Still have Venmo though.

quote:

---

The problem is the government regulation itself

To start up your own credit card or banking company you have to follow a trillion volumes of government regulations

---

I don't disagree with this, but those regs aren't going anywhere anytime soon. I'm asking for realistic responses.

I think a ton of small credit unions have Zelle now, too.

quote:

---

I started with Cameron State Bank which was then Iberia that was bought out by First Horizon which is now merging with TD bank.

---

(Hancock) Whitney is probably making the merge-jump in a few years, too.

I guess I'll go to JD Bank. They seem to be pretty committed to staying local.

quote:

---

very few, if any, businesses with your libertarian “values” will exist soon enough.

---

I mean private companies making private regulations doesn't change any libertarian stance at all.

Being libertarian doesn't mean I have to agree or disagree with ESG, just that the decision shouldn't be made for me by government (one way or another). This has nothing to do with Paypal enacting a stupid policy.

This isn't Twitter where "the public forum" argument can be made, also, to support a defense of a constitutional freedom.

quote:

---

It is time you accepted reality. Your libertarian “values” don’t exist outside of conferences where weird, fat people strut around on stage in their underwear.

---

Ok cool. What is "reality" and what is your response? That's what I asked for and you haven't responded to yet.

quote:

---

These entities are monopolies. There is no market correction.

---

Paypal is not a monopoly.