Salvini and Orban meet: announce an alliance uniting all anti-immigration forces in Europe

Posted by DanielS on Thursday, 30 August 2018 08:43.

Hungarian Prime Minister Viktor #Orban met today in #Italy with the Italian Minister of Interior, Matteo #Salvini.

The two announced that they will form an alliance uniting all anti-immigration forces in Europe ahead of next year’s election to the European Parliament.

Poland Daily:

Hungarian Prime Minister, Viktor Orban met with the Italian Minister of The Interior, Matteo Salvini today, as they seek a solution to the European Union immigration crisis. At the press conference, the two leaders announced that they will form an anti-immigration front ahead of next year’s elections to the European Parliament.

Victor Orban didn’t hide the fact that the Italian Minister of Interior has made a huge impression on him. Salvini has earlier made a name for himself as one of the most ardent opponents of the EU’s open door immigration policy.

Orban: “I would like to get to know him personally. He is my hero and my companion of destiny. I’m a great admirer and I feel that I have some experiences that I could share with him.”

According to Orban, the people who control European institutions, such as the The European Commission and The European Parliament, need to be replaced if the EU’s immigration policy is to be changed.

Orban: “The European elections are coming-up in May. We want to change a lot, but for that to happen, we need a new European Parliament and a new European commission which will start to protect Europe’s borders.”

Salvini announced that he wants to join forces with Orban ahead of the elections in order to shape The European Union’s new immigration policy. 

Salvini: “We have been working for weeks with Germany to find a solution to the issue of immigrants who arrived in Italy and then went to Germany. The most important thing for us is that Italy will not take any new migrants.

Obran stressed that Italy’s quest to stop migrants is vital to the whole of Europe.

Orban: Salvini is very popular in Hungary since he has shown that it is possible to stop migrants from crossing the sea. Out of all Mediterranean countries, Italy is the only one to have done it. Salvini is the first, and Europe’s security depends upon his success.”

Viktor Orban has been in opposition to the immigration policy favored by The European Commission and Angela Merkel for years; lately, he has gained allies, such as Poland and Italy.


Related at Majorityrights: Italy’s Salvini Vows To Create Pan-European Association Of Nationalist Parties


Discourse analysis: (((narrative control))) by David Cole Stein through Robert Stark’s kosher forum

Posted by DanielS on Wednesday, 29 August 2018 06:00.

    Discourse analysis of David Cole Stein’s (((narrative control))) as promoted through Robert Stark’s kosher forum.

    Socially constructing the non-social construction of right-wing, “politically incorrect objectivity.”

    Cole-Stein is going to talk about how the porn-industry is “the last refuge of political incorrectness”, how “unlike the ‘Leftist’ controlled media, it simply and objectively caters to the desires of its ‘fan-base.”

    Robert Stark: This-is-Robert-Stark. I am joined here with-uh, David Cole. Uh David, great having you back on the show.

    David Cole-Stein: It’s a pleasure to be back, Robert! It really is. I enjoyed our first go-round and I’m looking forward to doing it again.

    Robert Stark: And I’m also joined here with my ‘Alt-of-Center’ co-host, ah, Mathew Pegus.

    Stark seems to provide/be provided with a different kosher co-host every few shows or so.

    Mathew Pegus: Great to be here Robert. Thank you for having me.

    David Cole-Stein: Speaking of ‘Alt’, I want to apologize to you, Robert; because I know, a couple months ago in one of my Taki-Mag pieces, I kind-of mischaracterized you in my description of you ...and you were very polite about it, you were very nice about it; but I don’t like when I do that, because, number one, I don’t like to make errors in print, but also I don’t like it when people mischaracterize me or affix labels to me that I don’t want or don’t deserve. So I want to just apologize to get things started here, one on one here: I’m very sorry - I think I called you “Alt-Righty.” ...and uh..

    Robert Stark: Or like “Extreme Alt-Right” or “Hard-Core Alt-Right.” ...(chuckles)

    David Cole-Stein: Uh, Ok. Yeah, rub it in! Go ahead! That, that, here - here’s a man trying to like, grovel; and you take that salt and you rub-it right in! Yes, I made a grievous error, a grievous error! and I apologize for it.

    Robert Stark (chuckles): So uh, lets start with your recent article, “Lessons From My Porn-Girl” ..and just as kind of an overall theme, is how pornography is the one area in our culture where one is allowed to be ah, politically incorrect. So by-basically to start things off, by ‘porn-girl’ you’re referencing this woman that you used to know…

    David Cole-Stein: Well, a woman who lived with me. A woman whose porn-name is Kirsten Lee; ah, her real name is Kera. That - I’m not outing anybody, she has, she has outed herself. So this is not me, ah doing anything (coughs) like outing or doxxing. Kera lived with me for almost two years and was pretty much my partner in crime. She was twenty one when I uh, met her and uh…and I, basically, my role in her life was to try to help her out of the porn-biz. It’s a business that has never interested me but it was fascinating during that first year that she and I were together before she got out of it because by the second year she was fully out. You know the, the amazing thing about a porn girl is that once you give them free rent and utilities and food, ah they no longer feel the need to seek money; ah and well, they can just get right out of porn at that point - it’s really a miraculous formula; uh, they, they, once they don’t have any needs or bills to pay or anything like that, well getting out of porn seems pretty simple at that point.

    The White Left will emphasize this point of social safety net to help prevent mud-sharkery in the first place.

    Robert Stark: So, you-you touch on the theme of how pornography is the one, the one uh, aspect of media where politically incorrect content is uh, not only tolerated but promoted; and garners massive amounts of hit-counts in profits. What was the specific case with her and her ah, politically incorrect attitudes about sexual relations in porn.

    Cole-Burner Stain

    David Cole-Stein
    David Cole-Stein: Well I, um, I was amazed, really quite amazed by the people I mixed with during that first year while she was still knee deep, neck deep in the business. Uh, on racial matters, the kind of stuff that is the most taboo for the rest of us to talk about, on racial matters porn is just insanely honest. I’m not affixing a good or bad label to it, or healthy or unhealthy - just saying its incredibly honest: White girl comes in and White girl says, “I’m not going to blow an N-word”, and uh, and the producers of porn companies are like, ‘great, you don’t do the N-word porn’. Um, Kera, my porn-girl, made most of her money doing interracial stuff, because since she was so young and very thin and kind of pristine for lack of a better word; uh, it was kind of rare to have a White girl like that do interracial because ah, normally it was the older women who put on a few pounds who’d do the interracial; uh, but for a blond girl, blue eyes, twenty one years old and looking like she’s just come right-off the fiords, it was, she made a great-deal of money at that.

    Note that Cole-Stein is marking a transition, there was a time when this didn’t happen, or not much among working class women and certainly not much in the public space. It is not a time in memorial truth of societal behavior; and it’s not as if it is a sheer discovered fan base - but he’s normalizing and institutionalizing it as a given fact apart from negotiative components of societal incentive - particularly, money and a Jewish anti-White agenda.

    His argument - “a fan base”, as in, “this is what people agentively want” - is up against the involuntary high contrast tropism and need to gauge genetic distance and competition, not a mere expression of a ‘fan base’ catered-to. As a high contrast tropism, it is simply harder to ignore highly contrasting sounds and sights such as interracial; and the genetic call to grapple with the incitement to competition and deal with its vast, destructive genetic distance. It doesn’t necessarily mean this is what people want. Furthermore, there are elective, i.e., not merely catered-to, non-interracial taboos that are very popular also which can serve as an antidote to the destructive effects of this “catered-to” tropism.

    David Cole-Stein (continues): But yet in her private life, she would never do interracial. That was the thing that fascinated me most was how she was able to compartmentalize the racial thing. When she’s at work and she gets $8,000 to go down on a black dude, well that’s just work, she just does it. And then when we’re out in club and some black guy tries to hit on her and maybe comment on her porn, and she’ll let loose just a stream of expletives, ah ‘you friggin’ N-word’, ‘you N-word this and N-word that’ (Stark giggles) uh, there’s, huh, in her mind, its just, hey, I’m at work, I’m at work and my work right now is blowin’ a black guy; and then when we’re out at a club later that night - hey, this is my private time, I don’t want to talk to a black guy…so..

    It’s at work, ‘it’s ok then’. As with Hannah Arendt, he is shifting an ethnic basis for discrimination to the abstract, individual basis of “public and private.” He is trying to create a distancing effect, ‘this is play’ - to create a distancing effect from the actual participation of the actresses.

    David Cole-Stein (continues): But the whole industry was just sort of honest that way. Ah, most of the women, would - including black girls too and the Latino girls - they were just very honest, ‘cuz you can talk about race in porn in a way that you can’t in real life. It’s, I make the point in my article - where else in American society right now can pay-scale be determined by your race? I mean, if any other business, if Amazon were to say, ‘we’re going to be paying uh, White programmers more than uh, Asian ones’, well of course it would be a huge thing and I’m not advocating that at all. But in porn, White girls who are willing to do black guys make more; uh, White girls who only want to do other White girls make the least. Because that’s, that’s, hell, any White girl will kiss another White girl these days, that’s ...in my day that was barely titillating and I think everyone kind of does that now.

    So.. and then the Mexican dudes, there were some Arab dudes - and they get paid different based on race ..eh that doesn’t happen anywhere else. I mean, its kind of astounding when I was looking at it. I spent years writing about racial politics and racial law and discrimination laws. And I’m like, wow, this, this is the wild-west, this is a part of the entertainment industry - and a profitable one - that has yet to be touched by that Leftist hand of politically correct social justice bullshit.

    READ MORE...


    This is the core of German people standing up, not “far-right extremists” as mass media lables them

    Posted by DanielS on Monday, 27 August 2018 11:26.

    Photo of Chemnitz protest by Henryk Stoeckel

    Defend Europa, “Chemnitz, Germany: Migrant murder triggers huge anti-migration protests”, 27 Aug 2018:

    In the German city of Chemnitz, a 23 year-old Syrian and a 22 year-old Iraqi are under suspicion of murdering a 35 year-old German and wounding two others during a city festival by stabbing them multiple times after – according to eye witnesses – the trio came to aid a woman who was being harrassed by the migrants, while the police issued a statement where they denied the circumstances and instead told the media that they were among a quarrel of some 10 men which turned violent. The Syrian and the Iraqi have since been in detention awaiting trial.

    The events triggered a spontaneous demonstration, where about 1,000 people gathered by the Karl Marx monument by Sunday evening to mourn the victim of yet another stabbing. In the very same day, state-sponsored TV channel ARD released a summer interview with Chancellor Angela Merkel, in which she said that “she is the Chancellor of the refugees”.

    On Monday, several groups called on the people of Chemnitz to gather for a funeral march and to show solidarity with the victims. Some claim that 12,000 people showed up, others are saying that there were 8,000. Still, the masses were screaming “Merkel must go” and “resistance”.

                 

    Of course, the mainstream media were quick to label the demonstrations as “far-right protests”, using the misbehaviour of a small number of protesters to discredit the whole movement. People who actually attended the demonstration and were among the masses show that most of the claims of the press are false. This is the core of the German people finally standing up for themselves and not “far-right extremists” as the mass media labels them.


    Asia Argento Starring as Nimrod’s Mother

    Posted by DanielS on Thursday, 23 August 2018 02:22.

    The New York Times has reported that #MeToo Leader, Asia Argento, molested a boy actor and paid him a $380,000 settlement to shut up.

    NY Times, “Asia Argento, a #MeToo Leader, Made a Deal With Her Own Accuser,” 19 Aug 2018:

    Ms. Argento quietly arranged to pay $380,000 to her own accuser: Jimmy Bennett, a young actor and rock musician who said she had sexually assaulted him in a California hotel room years earlier, when he was only two months past his 17th birthday. She was 37. The age of consent in California is 18.

    That claim and the subsequent arrangement for payments are laid out in documents between lawyers for Ms. Argento and Mr. Bennett, a former child actor who once played her son in a movie.

    …Ms. Argento, who is divorced and has two children, was both a mentor and a mother figure to Mr. Bennett, the document says, and the two were intermittently in contact as he grew up. “Jimmy’s impression of this situation was that a mother-son relationship had blossomed from their experience on set together,” Mr. Sattro wrote.

    The Italian actress and director Asia Argento was among the first women in the movie business to publicly accuse the producer Harvey Weinstein of sexual assault.

    Interlocutor: It’s a kind of utopia, just the fact that the whole world will mix-up with each other; that in, I don’t know, seventy or eighty years, there will be no White people any more; only cappuccino colored.  (((Anthony Bourdain))): That’s the only way. That’s the only solution. It’s our only hope, our way out of this. It’s going to take some time but it’s really the only way.

    She became a leading figure in the #MeToo movement. Her boyfriend, the culinary television star Anthony Bourdain, eagerly joined the fight.

    ....a shared fight for liberal politics and its trajectory for the genocidal dissolution of European peoples into a “cappacino-colored” international blend.

    Diversity Macht Frei, “Asia Argento is one of Italy’s most prominent ‘do-gooders’. She regularly makes public interventions in favour of ‘migrants’ or liberal politicians or personalities. Here, for example, when Marine Le Pen celebrates the Lega and Matteo Salvini coming to power in Italy, Asia Argento attacks her for it.

    Marine Le Pen:

    Bravo to the coalition of Matteo Salvini and the Lega which is finally forming the new Italian government. It’s a victory for democracy over the intimidations and threats of the European Union…

    While “#Me-Too” Rose McGowan’s star has shown through the ranks of “flirty fishing”, a Christian cult that advocated sexual seduction, including of minors to draw new adherents; and fellow #Me-Tooer, Annabella Sciarra, has starred in “Jungle Fever;” now #Me-Tooer Asia Argento seeks her place among dark actualization with a starring role as Nimrod’s mother.

    Asia Argento, girlfriend of (((Anthony, “only blending all of us to cappuccino color will save the world” Bourdain))) before he hanged himself; and also of “Me-too - I’ve been sexually assaulted by (((Harvey Weinstein)))” notoriety - has been brought up on charges for sexually assaulting a minor. While the charge alleges that he was barely illegal (17) when she invited him to her hotel room, plied him and blew him, it is also the case that she’s known him since age seven when she wrote, directed and starred in a movie with him where she played his (troubled) mother, and he, a child rape victim whom she encouraged to cross dress. Finally, she paid him $380,000 to sign a non-disclosure agreement of the case in reality (but it didn’t even work, lol. Sometimes bad things do happen to bad people).

    “Me-Too-ers”:

                   
    Asia, ‘Nimrod’s Mother,’ Argento; Rose, through the ranks of the ‘Flirty Fisher’ cult, McGowan; and Annabella, “Jungle Fever,” Sciarra (back right)

    Joe Jackson, It’s Different for Girls

                             
    AnnaBella Sciarra, starring as a catholic girl gone ape-wild for her employer.

    Joe Jackson, “Is she really going out with him?”


    Related at Majorityrights:

    Miscegenation as equivalent to rape and pedophilia Part 1

    Miscegenation as equivalent to rape and pedophilia Part 2

    Miscegenation as equivalent to rape and pedophilia part 3

     


    Elizabeth Warren: “Sad (Tibbetts) is dead, but we have to remember….where the real problems are”

    Posted by DanielS on Wednesday, 22 August 2018 02:21.

    “Sad she’s dead, but”...

    Washington Examiner, “Elizabeth Warren on the Tibbetts murder: Sad she’s dead, but ‘we have to remember’ we need an immigration system that ‘focuses on where real problems are”, 22 Aug 2018:

    Sen. Elizabeth Warren is sorry that a 20-year-old Iowa student is dead and that a reported illegal alien has been charged in the killing, but the Massachusetts Democrat wants to stay focused on the “real problems.”

    This isn’t a paraphrase of something she said Wednesday on CNN. This is her actual response to a question about reports that law enforcement agents have charged Cristhian Bahena Rivera, 24, in the disappearance and murder of Mollie Tibbetts.

    “I’m so sorry for the family here, and I know this is hard, not only for the family, but for the people in her community, the people throughout Iowa,” Warren told CNN’s John Berman. “But one of the things we have to remember is: We need an immigration system that is effective. That focuses on where real problems are.”

    Berman asking the senator specifically to respond to President Trump and Vice President Mike Pence claiming the Tibbetts murder is proof of the need for stronger immigration enforcement.

    Warren continued, saying, “Uh, last month, I went down to the border, and I saw where children had been taken away from their mothers. I met with those mothers, who had been lied to, who didn’t know where their children were, who hadn’t had a chance to talk to their children. And there was no plan for how they’d be reunified with their children.”

    Tibbetts’ remains were found early Tuesday morning, according to law enforcement officials. Rivera, who authorities believe has been living in the U.S. illegally for four to seven years, has been charged with first-degree murder. His bail was set Tuesday at $1 million.

    “I think we need immigration laws that focus on people who pose a real threat, and I don’t think mammas and babies are the place where we should be spending our resources. Separating a mamma from a baby does not make this country safe,” Warren said.

    Trump signed an executive order on June 20 reversing the policy of separating illegal immigrant families. And as to the issue of mothers being separated from their babies, I think Tibbetts’ mother, Laura Calderwood, might have some thoughts on that.

    The Washington Examiner’s Phil Klein disagreed Wednesday with the criticisms of Warren, arguing the Massachusetts senator had not really stepped in it with “outrageously tone-deaf” comment.

    “I’m no Warren fan, but this strikes me as a stretch. In clip she goes on to say we need to focus on actual threats, and that family separation doesn’t make us safe,” he wrote. “She isn’t saying that a young girl getting killed isn’t a problem.”

    I disagree that the negative reaction is a stretch. The criticisms are well-deserved. Her comments follow a clear path. She starts by saying she’s sorry about the Tibbetts murder, and then changes the subject to attack Trump over an immigration policy he rescinded two months ago.

    It’s true Warren’s remarks were about the White House’s response to the murder. That doesn’t take away from the “but” in her “I’m sorry someone is dead” response. There should never be a “but” in those statements.

    Opinion commentary, by Beckett Adams


    Salvini addresses advocate of African migrants to Europe: “Scew-off! Go practice politics in Africa”

    Posted by DanielS on Tuesday, 21 August 2018 14:10.

    READ MORE...


    SOUTH AFRICA’s government has begun seizing land from White farmers.

    Posted by DanielS on Monday, 20 August 2018 18:05.

    South Africa farm seizures - The proposal was announced by Cyril Ramaphosa:

    Express UK, “South Africa farm seizures BEGIN: Chaos as first expropriation of white-owned farms starts”, 20 Aug 2018:

    SOUTH AFRICA’s government has begun seizing land from white farmers, targeting two game farms in the northern province of Limpopo after talks with the owners to buy the properties collapsed.

    Johannesburg-based newspaper City Press reported owners Akkerland Boerdery wanted 200 million rand (£16.7m) for the land, but that the country’s government were willing to offer them just a tenth of that at 20 million rand (£1.67m).

    A letter sent to the owners earlier this year had said: “Notice is hereby given that a terrain inspection will be held on the farms on April 5, 2018 at 10am in order to conduct an audit of the assets and a handover of the farm’s keys to the state.”

    Akkerland Boerdery immediately took out an urgent injunction to prevent eviction until a court had ruled on the issue, but the Department of Rural Development and Land Affairs has refused the application.

    Annelie Crosby, spokeswoman for the agricultural industry association AgriSA, told City Press: “What makes the Akkerland case unique is that they apparently were not given the opportunity to first dispute the claim in court, as the law requires.”

    ANC spokesman ZiZi Kodwa refused to reveal details of the farms being targeted and has attempted to cal investor fears, adding the proposed seizures were “tied to addressing the injustices of the past”.

    He told City Press: “Over time I think the markets as well as investors will appreciate that what we are doing is creating policy certainty and creating the conditions for future investment.”

    Tensions among South Africa’s white farming community has been escalating since the election of Cyril Ramaphosa as President earlier the year, who committed his African National Congress (ANC) to land expropriation.

    Last week, ANC chairman Gwede Mantashe sparked panic among the farming community when he said: “You shouldn’t own more than 25,000 acres of land.

    “Therefore if you own more it should be taken without compensation.”

    “People who are privileged never give away privilege as a matter of a gift.

    “And that is why we say, to give you the tools, revisit the constitution so that you have a legal tool to do it.”

    A record number of white South African farmers have put their land up for sale amid fears the ruling party is considering confiscating properties bigger than 25,000 acres.

    The government was accused of drawing up a list of almost 200 farms it allegedly wants to seize from white farmers, with AfriForum, a civil rights group representing the white Afrikaner minority, adding the document was being circulated by ministers as the ruling powers prepare to implement the policy.


    How China’s Mobile Ecosystems Are Making Banks Obsolete

    Posted by DanielS on Monday, 20 August 2018 17:40.

    Econintersect.com, “How China’s Mobile Ecosystems Are Making Banks Obsolete”, 24 Aug 2018:

    by Ellen Brown, Web of Debt

    Giant Chinese tech companies have bypassed credit cards and banks to create their own low-cost digital payment systems.

    The US credit card system siphons off excessive amounts of money from merchants, who must raise their prices to cover this charge. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest goes to banks and processors. But who can compete with Visa and MasterCard?

    It seems China’s new mobile payment ecosystems can. According to a May 2018 article in Bloomberg titled “Why China’s Payment Apps Give U.S. Bankers Nightmares”:

    The future of consumer payments may not be designed in New York or London but in China. There, money flows mainly through a pair of digital ecosystems that blend social media, commerce and banking - all run by two of the world’s most valuable companies. That contrasts with the U.S., where numerous firms feast on fees from handling and processing payments. Western bankers and credit-card executives who travel to China keep returning with the same anxiety: Payments can happen cheaply and easily without them.

    The nightmare for the US financial industry is that a major technology company - whether one from China or a US giant such as Amazon or Facebook - might replicate the success of the Chinese mobile payment systems, cutting banks out.

    According to John Engen, writing in American Banker in May 2018, China processed a whopping $12.8 trillion in mobile payments in the first ten months of 2017. Today even China’s street merchants don’t want cash. Payment for everything is with a phone and a QR code (a type of barcode). More than 90 percent of Chinese mobile payments are run through Alipay and WeChat Pay, rival platforms backed by the country’s two largest internet conglomerates, Alibaba and Tencent Holdings. Alibaba is the Amazon of China, while Tencent Holdings is the owner of WeChat, a messaging and social-media app with more than a billion users.

    Alibaba created Alipay in 2004 to let millions of potential customers who lacked credit and debit cards shop on its giant online marketplace. Alipay is free for smaller users of its platform. As total monthly transactions rise, so does the charge; but even at its maximum, it’s less than half what PayPal charges - around 1.2 percent. Tencent Holdings similarly introduced its payments function in 2005 in order to keep users inside its messaging system longer. The American equivalent would be Amazon and Facebook serving as the major conduits for US payments.

    WeChat and Alibaba have grown into full-blown digital ecosystems - around-the-clock hubs for managing the details of daily life. WeChat users can schedule doctor appointments, order food, hail rides and much more through “mini-apps” on the core app. Alipay calls itself a “global lifestyle super-app” and has similar functions. Both have flourished by making mobile payments cheap and easy to use. Consumers can pay for everything with their mobile apps and can make person-to-person payments. Everyone has a unique QR code, and transfers are free. Users don’t need to sign into a bank or payments app when transacting. They simply press the “pay” button on the ecosystem’s main app and their unique QR code appears for the merchant to scan. Engen writes:

    A growing number of retailers, including McDonald’s and Starbucks, have self-scanning devices near the cash register to read QR codes. The process takes seconds, moving customers along so quickly that anyone using cash gets eye-rolls for slowing things down.

    Merchants that lack a point-of-sale device can simply post a piece of paper with their QR code near the register for customers to point their phones’ cameras at and execute payments in reverse.

    A system built on QR codes might not be as secure as the near-field communication technology used by ApplePay and other apps in the U.S. market. But it’s cheaper for merchants, who don’t have to buy a piece of technology to accept a payment.

    The mobile payment systems are a boon to merchants and their customers, but local bankers complain that they are slowly being driven out of business. Alipay and WeChat have become a duopoly that is impossible to fight. Engen writes that banks are often reduced to “dumb pipes” - silent funders whose accounts are used to top up customers’ digital wallets. The bank bears the compliance and other account-related expenses, and it does not get the fees and branding opportunities typical of cards and other bank-run options. The bank is seen as a place to deposit money and link it to WeChat or Alipay. Bankers are being “disintermediated” - cut out of the loop as middlemen.

    If Amazon, Facebook or one of their Chinese counterparts duplicated the success of China’s mobile ecosystems in the US, they could take $43 billion in merchant fees from credit card companies, processors and banks, along with about $3 billion in bank fees for checking accounts. In addition, there is the potential loss of money market deposits, which are also migrating to the mobile ecosystem duopoly in China. In 2017, Alipay’s affiliate Yu’e Bao surpassed JPMorgan Chase’s government market fund as the world’s largest money market fund, with more than $200 billion in assets. Engen quotes one financial services leader who observes, “The speed of migration to their wealth-management and money-market funds has been tremendous. That’s bad news for traditional banks, where deposits are the foundation of the business.”

    An Amazon-style mobile ecosystem could challenge not only the payments system but the lending business of banks. Amazon is already making small-business loans, finding ways to cut into banks’ swipe-fee revenue and competing against prepaid card issuers; and it evidently has broader ambitions. Checking accounts, small business credit cards and even mortgages appear to be in the company’s sites.

    In an October 2017 article titled “The Future of Banks Is Probably Not Banks,” tech innovator Andy O’Sullivan observed that Amazon has a relatively new service called “Amazon Cash,” where consumers can use a barcode to load cash into their Amazon accounts through physical retailers. The service is intended for consumers who don’t have bankcards, but O’Sullivan notes that it raises some interesting possibilities. Amazon could do a deal with retailers to allow consumers to use their Amazon accounts in stores, or it could offer credit to buy particular items. No bank would be involved, just a tech giant that already has a relationship with the consumer offering him additional services. Phone payment systems are already training customers not to need bankcards, which means not to need banks.

    Taking those concepts even further, Amazon (or eBay or Craigslist) could set up a digital credit system that bypassed bank-created money altogether. Users could sell goods and services online for credits, which they could then spend online for other goods and services. The credits of this online ecosystem would constitute its own user-generated currency. Credits could trade in a digital credit clearing system similar to the digital community currencies used worldwide, systems in which “money” is effectively generated by users themselves.

    Like community currencies, an Amazon-style credit clearing system would be independent of both banks and government; but Amazon itself is a private for-profit megalithic system. Like its Wall Street counterparts, it has a shady reputation, having been variously charged with worker exploitation, unfair trade practices, environmental degradation, and extracting outsized profits from trades. However, both President Trump for the Republicans and Senator Elizabeth Warren for the Democrats are now threatening to turn Amazon, Facebook and other tech giants into public utilities. This opens some interesting theoretical possibilities. We could one day have a national non-profit digital ecosystem operated as a cooperative, a public utility in which profits returned to the users in the form of reduced prices. Users could create their own money by “monetizing” their own credit, in a community currency system in which the “community” is the nation or even the world.


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    Al Ross commented in entry 'A couple of exchanges on the nature and meaning of Christianity's origin' on Fri, 06 Oct 2023 06:31. (View)

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    Guessedworker commented in entry 'A couple of exchanges on the nature and meaning of Christianity's origin' on Wed, 04 Oct 2023 13:44. (View)

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    Thorn commented in entry 'A couple of exchanges on the nature and meaning of Christianity's origin' on Wed, 04 Oct 2023 11:41. (View)

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    timothy murray commented in entry 'A couple of exchanges on the nature and meaning of Christianity's origin' on Tue, 03 Oct 2023 22:42. (View)

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    timothy murray commented in entry 'Out of foundation and into the mind-body problem, part three' on Thu, 28 Sep 2023 02:33. (View)

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