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Originally, customers were told to continue paying their debt, Reuters reported, but the company confirmed Friday to USA TODAY the debt was now cancelled. "Chase made the decision to exit the Canadian credit card market. As part of that exit, all credit card accounts were closed on or before March 2018. A further business decision has been made to forgive all outstanding balances in order to complete the exit," Maria Martinez, vice president of ...Read More
This article by the NYT with the 60 Minutes on money laundering piece starts to put banks in the crosshairs of money laundering activity. A free press is a fundamental component of Democracy, and the Times has something here that could bring down a book of cards. This is ...Read More
"Journalist Oliver Bullough runs kleptocracy tours in London, in which he points out mansions bought by corrupt foreign leaders and oligarchs. Moneyland describes their secretive transnational world."
This article is a great way to start thinking about how money works and how it could work.
‘The whole motivation of Bitcoin and similar systems is to create a digital substitute for gold, The aim is to break away, as the advocates see it, from a state monopoly of the issue of currency and a dependence on the international clearing bank system of payment. The idea that ...Read More
I just want to point out that David H Koch and Bank of America are two major sponsors for Ken Burns' Vietnam War doc. Might this have had an influence on the editorial direction and content? Absolutely 100% not even a question. That's like asking if Hilary Clinton was influenced That said, it's not a bad doc. I do wish it would probe deeper but it's not a bad doc. But i think we are reaching a stage where it could be argued that it is no longer acceptable, and simply irresponsible to align with such incredibly poisonous agents to ...Read More
Agreed crypto has revolutionary potential but some serious problems with this analysis - and in general when critical thinking and marketing become one. Bitcoin is "merit based" only if you take the idea of merit and transpose it to a binary game that has zero resemblance to human life.
Being reminded of Russian ruble loosing 90% of its value multiple times throughout the 90s and people standing all day in lines to get cash out of banks so that they could spend it before it's totally worthless. "If you’re a vulnerable denizen of the informal economy, an off-the-grid hustler, or a low-income precarious worker, banks and payments intermediaries have little interest in prioritising you. The bank-payments society will not process the activity that takes place in the peripheral cracks that form the basis of your livelihood. Indeed, ...Read More