Corporations and governments are working together to each do what the other legally can’t.
Canada showed most of us what was coming when Justin Trudeau ordered banks to freeze the assets of citizens who were in support of the trucker protests in early 2022.
Here in America, PayPal tried to implement a fascist new policy. Despite backing down, it stands as a warning of what could come next.
PayPal outrages former President and co-founder with new policy update
PayPal made waves online recently when they updated their terms and conditions to include a potential “$2,500.00 US Dollars per violation” for “sending, posting, or publication” of anything that “promotes disinformation.”
The company stated in the new AUP that the funds “may be debited directly from your PayPal account” if the company has found you in violation of this policy.
Former PayPal President, David Marcus, quickly exposed the updated policy to his followers on Twitter writing, “It’s hard for me to openly criticize a company I used to love and gave so much to. But @PayPal’s new AUP goes against everything I believe in. A private company now gets to decide to take your money if you say something they disagree with. Insanity.”
Really looking fwd to watching this. I remember meeting @brian_armstrong and @FEhrsam in 2013 or 14, and became a board member many years later just as the company went 🚀 and had to scale like crazy. The resolve through the highs and lows has truly been incredible to witness. https://t.co/3UBGrR3rT1
— David Marcus (@davidmarcus) October 4, 2022
PayPal cofounder, Elon Musk replied with “I agree.”
PayPal quickly reversed course amid outrage over their censorship plans
While it’s hard to say what caused it, PayPal abruptly changed course within a day issuing a statement that claimed the update was made “in error” and some of it was “incorrect information.”
The company claimed they won’t be “fining people for misinformation, and this language was never intended to be inserted in our policy.”
Though the company has apparently scratched its plans for the $2,500 fine, the company pointed out that account holders would only be held liable for “a reasonable minimum estimate of PayPal’s actual damages” if their brand is harmed by your actions in any way.
They also want to assure the public and their stockholders that their “teams are working to correct [PayPal’s] policy pages” and that they are “sorry for the confusion . . .”
It should be noted that this behavior isn’t new to PayPal.
The company has been closing accounts based on social media activities for some time now.
Most recently they banned Gays Against Groomers – a group that is fighting to protect young children from being groomed into overt sexualization and gender transitioning.
It’s clear what side of the culture war they will be battling for and the only people that will fall victim to their censorship are conservative voices.
Bigger concern is that PayPal may be warning us about what is coming with CBDCs
PayPal also owns peer-to-peer payment app Venmo—which follows in their parent company’s actions.
The bigger concern isn’t in the low-level lenders and bankers but rather in the central banking system itself.
Central banks around the world are wholly private companies and plan to expand into Central Bank Digital Currencies.
Many countries around the world are researching switching to these systems and as many as nine have already adopted them according to Investopedia.
In an era of digital money, digital identification, and a digital public square – any freedom-loving person on the planet should be concerned about the direction we’re going.
PayPal may have just inadvertently given the world another warning shot on what is to come from the digital banking sector.
We won’t have long to wait as it will surely emerge from the apocalyptic economic scene we are currently living in.
US Political Daily will keep you up-to-date on any developments to this ongoing story.
