PayPal: Back on That BS
Despite the nearly immediate walk back of a poorly thought out policy change, the damage might be done. PayPal sucks. IYKYK
It’s been almost a year to the day that I deleted my PayPal account. Yes, I did it way before it was fashionable. I was furious when PayPal de-platformed the FLCCC. From my post detailing the decision:
I can't stress this enough, if you don't approve of this kind of action from these companies, I think you should probably start considering how far you're willing to go to let your displeasure with them be known. For me, that displeasure is strong enough that I'm willing cut ties.
There are some corporations that have been begrudgingly going along with “The Great Reset” and there are others that have been the pioneers of enacting Klaus’ blueprint; PayPal is the latter. That company isn’t just on board with the plan of nudging everyone toward opinion-less totalitarianism, it’s championing it.
But something interesting has happened over the last couple days and it appears that PayPal has pushed the agenda too far. After publishing fines for sharing “misinformation” that would have seen PayPal possibly confiscating up to $2,500 in funds from depositors who say things online that PayPal doesn’t like, the hashtag #BankruptPayPal started trending on Twitter.
The response has been swift and vicious. Claims of deleted PayPal accounts seem to be corroborated by PayPal’s nearly immediate 180 on the policy. Even former PayPal President David Marcus took the company to task on Twitter:
Over the last 18 months, “misinformation” has probably been more synonymous with “counter-narrative” rather than “false.” That word is not what Marcus used in his framing of what PayPal just did. This is a good sign. Rather than saying “misinformation,” he said “something they disagree with.” To me, this shows a growing acceptance that “misinformation” has lost all meaning as a word. Add it to the list.
A lot has changed since PayPal froze the FLCCC’s money last year. It is now widely understood that the magic juice doesn’t stop transmission or infection. Those who were labeled conspiracy theorists for suggesting such an idea a year ago have been vindicated. The political center seems to have shifted from quietly going along to get along to openly rejecting the agenda. And the establishment is now finding out the hard way that it is a clown show in the eyes of the populace as tweets like this one from the CDC…
…get rightfully ratio’d. 236 likes. 282 quote tweets and over 700 comments - many of which have more likes than the OP. Classic ratio metrics.
Like recession, insurrection, and fascist, in a society that has tRuTH rather than truth, “misinformation” has become a word that no longer has meaning. All that said, even if it did still have meaning, do we really think there is much tolerance domestically for this arbitrary Chinese-style social credit system PayPal just tried to pioneer?
If there was any debate about whether or not these PayPal account deletion screengrabs are real and not fake, Wall Street seems to think they are:
PayPal stock, which had outperformed the index and payment infrastructure peers like Visa and Mastercard all last week, has been absolutely nerfed this morning and is down about 6% as of writing just today.
What’s that phrase I keep seeing? Oh yeah…
Fuck around and find out
Is this the beginning of the end of ESG? Doubtful. But what this PayPal fiasco shows is we do still have a free market. You can still vote with your dollars and your feet. And you probably should do so because it might be more important than participating in duopoly elections where we have very little real choice and often vote for the lesser of two evils.
But I want to be very clear about the point of this message today: I really don’t care if you’re democrat or republican, man or woman, black or white, gay or straight, religious or atheist; we’re all people. The labels are often silly. The story I hope we learn from PayPal today isn’t “go woke go broke.” If you move from PayPal to some other centralized payments middleman, you missed the point of the exercise. Don’t forget what PayPal just did to Rippaverse Comics…
These companies all love you until they don’t. We don’t need any of these corruptible corporate middlemen when we have decentralized, pre-determined supply-capped digital currency with a distributed ledger and privacy protections baked in. If not now, when?
Heretic Speculator is a reader-supported publication. Don’t forget to delete Venmo as well, which is owned by PayPal.