http://www.market-ticker.org/akcs-www?post=233929
When Did You Consent?
[Comments enabled]
When did you consent to your bank “sharing” data on your account with Facebook?
Would you consent? Under what terms?
Are you out of your ****ing mind?
Facebook’s stock is up some 3.5% today on the “news” that it is working on “partnerships” with major banks, which will include access to your account data — including balances.
May I remind you that the major credit-card processing networks — same banks, ultimately folks — have over the last few years, prompted by the “chip” thing in cards, quietly been changing from “Level 1” (that is, amount-of-transaction only) data from merchants to Level 3, which captures the quantity, price and exact items or services purchased?
The merchants are being coerced into this with a lower discount rate if they consent, with the argument being “better fraud detection” and thus lower losses. In other words where the discount rate might be 2% if they just do transaction total the banks will give them a 1.5% rate if they consent to Level 3.
When were you consulted on any of this and given fair disclosure?
When was a sign posted at the checkout that every single line item in your cart was being sent, in detail, to both Visa and your bank and that they may do with that data as they please, including selling it to your health insurance firm, car insurance company and, quite-possibly, your employer?
Never.
So now you go into a restaurant and instead of the bank knowing you charged $45.02 on your card they now know you bought a $20 steak and $18 worth of beer — and the rest was tip.
They also now know if those beers were $6 each — you drank three — or if you got them on happy hour for $2 and you drank nine of them!
This is extremely valuable information; among other things if you ever buy alcohol far enough away from your home that you could not have reasonably walked you are instantly assumed to drive drunk by your car insurance company and pay another $200 a year — or more — for your car insurance.
Think I’m kidding?
Spot on, Google Map knows I’ve been to a couple of craft beer breweries months ago and how long I stayed at each.
Factor in the govt eliminating cash from society, they got you by your short hairs.
whiskey tango foxtrot
August 6, 2018 6:07 pm
I’m not a cop sucker and I’m not a cop hater but I do see LE for what it is. It’s a legally sanctioned gang; and just like the mafia, they kick a percentage of their swag up to their bosses in the federal government. Exact same “business model”.
Excommunicated
August 6, 2018 8:42 pm
Of course stealing is wrong. We are going to eliminate it eventually. We just need to steal a little bit more from you, because you wouldn’t be able to handle total non-theft and freedom yet…And I can decide the appropriate amount. You see we have to take…baby steps.
Why am I a true anarcist? I do hate gov in all its forms.
http://www.market-ticker.org/akcs-www?post=233929
When Did You Consent?
[Comments enabled]
When did you consent to your bank “sharing” data on your account with Facebook?
Would you consent? Under what terms?
Are you out of your ****ing mind?
Facebook’s stock is up some 3.5% today on the “news” that it is working on “partnerships” with major banks, which will include access to your account data — including balances.
May I remind you that the major credit-card processing networks — same banks, ultimately folks — have over the last few years, prompted by the “chip” thing in cards, quietly been changing from “Level 1” (that is, amount-of-transaction only) data from merchants to Level 3, which captures the quantity, price and exact items or services purchased?
The merchants are being coerced into this with a lower discount rate if they consent, with the argument being “better fraud detection” and thus lower losses. In other words where the discount rate might be 2% if they just do transaction total the banks will give them a 1.5% rate if they consent to Level 3.
When were you consulted on any of this and given fair disclosure?
When was a sign posted at the checkout that every single line item in your cart was being sent, in detail, to both Visa and your bank and that they may do with that data as they please, including selling it to your health insurance firm, car insurance company and, quite-possibly, your employer?
Never.
So now you go into a restaurant and instead of the bank knowing you charged $45.02 on your card they now know you bought a $20 steak and $18 worth of beer — and the rest was tip.
They also now know if those beers were $6 each — you drank three — or if you got them on happy hour for $2 and you drank nine of them!
This is extremely valuable information; among other things if you ever buy alcohol far enough away from your home that you could not have reasonably walked you are instantly assumed to drive drunk by your car insurance company and pay another $200 a year — or more — for your car insurance.
Think I’m kidding?
Spot on, Google Map knows I’ve been to a couple of craft beer breweries months ago and how long I stayed at each.
Factor in the govt eliminating cash from society, they got you by your short hairs.
I’m not a cop sucker and I’m not a cop hater but I do see LE for what it is. It’s a legally sanctioned gang; and just like the mafia, they kick a percentage of their swag up to their bosses in the federal government. Exact same “business model”.
Of course stealing is wrong. We are going to eliminate it eventually. We just need to steal a little bit more from you, because you wouldn’t be able to handle total non-theft and freedom yet…And I can decide the appropriate amount. You see we have to take…baby steps.
“stealing is wrong” ……….. said no government ever (about itself when it does it).
“stealing is wrong” ……….. said no church ever …
Do not steal. The government hates competition.
Says the sign on Ron Paul’s desk.
The Burglars in Blue, as Mike Royko called them in his book ‘Boss’…..