SJ in Finance 💰Gab CEO says Visa has blacklisted his family

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[–]SanAngelesPD 11 insightful - 1 fun11 insightful - 0 fun12 insightful - 1 fun -  (4 children)

Shrug

So we go the next level up.

Y'ever heard the word 系列 (keiretsu)?

The keiretsu are the Japanese mega corporations. Every one of them is built around their own, internal bank. As in, a full, real, accredited bank. That's just theirs. With all the ability to do everything a bank does.

They do this because it's much, much, much easier to move money around within one bank than it is to move money between banks. All the businesses in the group interact with each other through that bank and it reduces the transactions to little more than pushing numbers around a spreadsheet, so to speak.

[–]RalphOfPittsburgh 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Torba needs to found the "Gab Employees Credit Union" and maybe offer membership to members of the "Gab Boosters Club" which he can simultaneously found.

[–]The_Frag_Man 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

That sounds great. What happens when they blacklist your bank?

[–]SanAngelesPD 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

They can't.

The reason they can't is because check and bank-to-bank teller slip clearing isn't done over a private network the way credit and ach are. It'd done by the Federal Reserve.

There are far fewer reasons they can reject a signed transfer order cleared through the Fed. They basically have to claim it's an overdraw or it's fraudulent. And by fraudulent, I mean, they're asserting that the person who ordered the transfer isn't the person who owns the account.

[–]dittendatt 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

A bank is next. And a private security company might be useful too i suspect.

[–]novanleon 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (0 children)

This has shades of the mark of the beast. I know China is way worse than this, but I never thought we'd see this in the USA. Crazy.

And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead, and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is six hundred and sixty-six. -- Revelations 13:16-18

[–]deoxyribo 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

Yet Torba and his family are being denied payment processing because Gab supports this legally protected speech.

Only parts of legally protected speech that they themselves agreed with though. Don't have much sympathy for these hypocrites.

[–]DomitiusOfMassilia⬛[M] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Comment Reported for: 12: Falsehoods, 13: Reposts, 14: Max Posts

Not sure how any of these apply.

[–]filbs111 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Seems like they blacklisted his address, but I agree this is shit behaviour from Visa. Payment processing seems to be one of the biggest problems.