Curt Doolittle updated his status.

(FB 1547748265 Timestamp)


We are going to nationalize visa/mc with a controlling govt interest rather than regulating it.

Why? With the end of consumer interest, the businesses will collapse, and the organization survive entirely on transaction fees.

This organization is necessary for the distribution of liquidity, the transfer of payments, and the purchasing of goods, services and information.

When this occurs, it will no longer be possible for the card companies to intervene in the process of political speech.

Consumer Banking as we know it will largely collapse, and the services will be picked up by grocery stores and drug stores.

Private companies will also no longer be able to play credit games with consumers nor issue their own credit, because it will be uncollectible (unenforcible) debt if they do.

This will cause a shit-storm.

There is nothing in consumer credit that is not purely actuarial (computational). Nothing.

There is very little need for enforcement when liquidity is distribute to consumers instead of through the financial system, and consumer debt is paid down from that distribution.

The regularity that this will add to the commercial cycle as we can adapt to shocks almost instantaneously will be as historic an improvement as was use of shares in the economy as a money substitute.

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