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Banks Are Becoming Obsolete in China—Could the U.S. Be Next?

The U.S. credit card system siphons off excessive amounts of money from merchants. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest goes to banks and processors. But who can compete with Visa and MasterCard? It seems China’s new mobile payment ecosystems can. According to a May 2018 article in Bloomberg titled “Why China’s Payment Apps Give U.S. Bankers Nightmares”:

A Patriots’ Agenda

Robert Bowman writes about the need to restore the Constitutional rights of American citizens, enhance their national security through a return to Constitutional foreign and military policies, and rebuild their economy by providing financial security to American families. None of these things can be accomplished so long as the giant multinational corporations, the banks and financial service companies, the insurance industry, the fossil fuel conglomerates, the weapons manufacturers, and the billionaires are running the US government. Therefore the first priority of American patriots, he says, has to be separating big money and political power.

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