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#payments

7 posts7 participants1 post today

#Trump Team Eyes Politically Connected Startup to Overhaul $700 Billion Government #Payments Program. A little-known firm with investors linked to #JDVance, #ElonMusk and Trump could get a piece of the federal expense card system — and its hundreds of millions in fees. “This goes against all the normal contracting #safeguards one expert said. There is no normal anymore.#fascism propublica.org/article/trump-p #fraud #corruption #president #fascism #lawfedi #graft

ProPublicaTrump Team Eyes Politically Connected Startup to Overhaul $700 Billion Government Payments Program
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@RubenWA it's not what I mean.
I am talking about real credit cards, not just a #PayPal alternative allowing online payments.
You can avoid using PayPal and just purchase with your credit card, and there are different national services handling that transaction online.
But not a single EU country has a circuit like #Visa or #MasterCard. We had local debit cards s circuits and even those are being unified under Maestro, which belongs to Mastercard.

Elon Musk has appointed a team of technologists from #DOGE to "rewrite the code that runs the #SSA in months." This codebase has over 60 million lines of #COBOL and handles record keeping for all American workers and #payments for all Social Security recipients. DOGE aims to migrate all SSA systems off COBOL ... and onto a more modern replacement like #Java within a scheduled tight timeframe of a few months. After all, what could possibly go wrong? wired.com/story/doge-rebuild-s

WIRED · DOGE Plans to Rebuild SSA Code Base in Months, Risking Benefits and System CollapseBy Makena Kelly
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Government, administration, nation-state, do not go bankrupt… as long as they issue their currency and maintain an army to enforce it.

In 2020, the Fed "directly lent to corporations or they bought corporate debt off of financial market participants who had this corporate debt, or anyone who really needed to sell it. […] They just made sure that anyone who needed liquidity essentially had it." crisesnotes.com/musk-in-your-c

Notes on the Crises · Musk In Your Computers: Paul Krugman Interviews Nathan TankusNotes on the Crises pivoted on February 1st into around the clock coverage of the Trump-Musk Treasury Payments Crisis of 2025. Today is Day Thirty Read Part 0, Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, Part 10, Part 11,