"Iceland may ban MasterCard, Visa over WikiLeaks censorship"

[Zatch]

http://www.rawstory.com/rs/2010/12/mastercard-visa-licenses-revoked-iceland-wikileaks/

[HOLLYWOOD]

Yea... who needs 20-30% interest rate loans anyway.

[FunkBuddha]

Sounds like a good way to get liberated/invaded to me.

[akforme]

So this is the state banning a corporation because they don't like how the corporation used it's free speech?

Seems like a typical statist fix to me.

[oyarde]

What are the plans ? Just Discover and American Express ??

[Razmear]

What are the plans ? Just Discover and American Express ??

WikiBanks?
http://meatballwiki.org/wiki/WikiBank

[Philhelm]

Sounds like a good way to get liberated/invaded to me.

There, fixed it for you. Brush up on your Newspeak, mundane! ;)

[RonPaulCult]

So this is the state banning a corporation because they don't like how the corporation used it's free speech?

Seems like a typical statist fix to me.

+1

[goldenequity]

So this is the state banning a corporation because they don't like how the corporation used it's free speech?

Seems like a typical statist fix to me.

I disagree.
A PROPER use of Government FORCE; of regulating business practices within their Sovereign Country.

PROTECTING the Rights of Free Speech, Freedom of the Press
and the Privacy and Property Rights of the Individual over Big Business bullying...
and doing it with the MUSCLE that only Governments have.

FORCING them to JUSTIFY the legality of their actions BEFORE THE PARLIAMENT
(not some sold out/intimidated Judge)
if they want to continue to do business with its citizenry.
Bravo.


Representatives from Mastercard and Visa were called before the committee Sunday
to discuss their refusal to process donations to the website, reports Reykjavik Grapevine.

"People wanted to know on what legal grounds the ban was taken, but no one could answer it,"
Robert Marshall, the chairman of the committee, said. "They said this decision was taken by foreign sources."

The committee is seeking additional information from the credit card companies for proof
that there was legal grounds for blocking the donations.

Marshall said the committee would seriously review the operating licenses of Visa and Mastercard in Iceland.

WikiLeaks' payment processor, the Icelandic company DataCell ehf,
said it would take immediate legal action against the companies to make donations possible again.

"It will probably hurt their brand much much more to block payments towards WikiLeaks than to have them occur," Fink added.

"This does clearly create massive financial losses to WikiLeaks
which seems to be the only purpose of this suspension," Fink continued.
"This is not about the brand of Visa, this is about politics and Visa should not be involved in this."

Neither company has offered a detailed explanation of why they stopped processing payments to WikiLeaks.
MasterCard said only that WikiLeaks had acted in an "illegal" manner, in violation of the company's terms.

[goldenequity]

and ANOTHER reason to applaud the Government (their people took back!)

Iceland Trumped The Banks, and Is Now Exiting The Recession

12-10-2010
via: Telegraph.co.uk/ (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8187476/Iceland-offers-risky-temptation-for-Ireland-as-recession-ends.html)

The Nordic economy grew at 1.2pc in the third quarter and looks poised to rebound next year.
Quote:
It ends a gruelling slump caused largely by the "New Viking" antics of
Landsbanki, Glitnir and Kaupthing,
the trio of lenders that brought down Iceland's financial system in September 2008.

The economies of the two (Ireland/Iceland) "over-banked" countries have both contracted by around 11pc of GDP,
but Iceland has achieved it with inflation that devalues debt,
while Ireland has done it under an EMU deflation regime that raises the burden of debt.

This has led to vastly different debt dynamics as they enter Year III of the drama.

* Iceland's budget deficit will be 6.3pc this year, and soon in surplus:
* Ireland's will be 12pc (32pc with bank bail-outs) and not much better next year.

The pain has been distributed very differently.

* Irish unemployment has reached 14.1pc, and is still rising.
* Iceland's peaked at 9.7pc and has since fallen to 7.3pc.

The recession has proved shallower than expected,
and Iceland’s growth decline of about minus 7pc in 2009 compares favorably
against other countries hard hit by the crisis," said Mark Flanigan, the IMF's mission chief for the country.


Iceland's president, Olafur Grimsson, irritated EU officials last month
when he said his country was recovering faster
because it had refused to bail out creditors – mostly foreigners.

"The difference is that in Iceland we allowed the banks to fail.
These were private banks and we didn't pump money into them
in order to keep them going;
the state should not shoulder the responsibility," he said.

Iceland: told the Bank Bondholders to take a flying leap. Assume THEIR OWN risk.
Ireland: bailed the Banksters out and put it on the BACKS of its people.
Just
Like
Us.

and LOOK at the speed of their recovery....

Ron Paul: Right Again.

[cindy25]

nothing had a worse impact on small business than credit cards, but it should be done with education. and allowing stores to charge credit card customers the fees. banning these fees is not free market.

[goldenequity]

Cindy...
this is not (at all) about 'banning fees'.

http://i731.photobucket.com/albums/ww314/swimmersmommy/jmpndlms.jpg

[akforme]

I disagree.
A PROPER use of Government FORCE; of regulating business practices within their Sovereign Country.

PROTECTING the Rights of Free Speech, Freedom of the Press
and the Privacy and Property Rights of the Individual over Big Business bullying...
and doing it with the MUSCLE that only Governments have.

FORCING them to JUSTIFY the legality of their actions BEFORE THE PARLIAMENT
(not some sold out/intimidated Judge)
if they want to continue to do business with its citizenry.
Bravo.

Doesn't Mastercard and Visa have a right to free speech too? If they don't like what somebody say's they don't have to let that person use their product to help them do they?

Maybe Iceland should change to a free market money system if they really want to hurt visa and mastercard since the current one gives them massive advantages instead of reserving the right to ban those they disagree with. Or if the people of Iceland decided not to use visa and master on their own free will, that's something I'd support 100%.

[goldenequity]

Distinctions, Restrictions and Mandates by Government(s) upon Businesses
that do NOT apply to Individuals are common and in practice constantly.
There is NOTHING 'unconstitutional' about it.
The have a 'license' to operate, or practice within a domain (a city, a state, a Country)
and there are laws which govern them, that don't apply to the 'public'.
Typically they are enforced to 'protect' the Public.
Banking has Fiduciary responsibilities for instance....
so do Realtors and other Professionals....
all the way down the line.... to Barbers and Contractors etc.

This is no different.

The Government of Iceland gets to declare and enforce the Standards of Practice
for the Banking institutions that do business in their Country.

They are taking a stand against an 'alleged' discriminatory practice by a business...
unless VISA can demonstrate a contractual and legal reason to have cut Wikileaks off.

I as an individual can advertise my house for rent and say 'NO KIDS' allowed.
You as an apartment manager cannot and will wind up with a Federal lawsuit.

It's not 'equal' and it's not meant to be.

The Government of Iceland calls the shots.
Go gettem!


PS We're so USED to bad and abusive government
we forget what GOOD government is supposed to be.

[akforme]

Protecting the free will of the people is what I would call a good government. I don't like visa or MC, in fact I cut mine up a few years ago, but if we give the government the power to ban someone they don't like what happens when you become that someone?

If you don't protect the rights of the people you don't like, you won't have any left for yourself. And power corrupts, always has, always will.

[goldenequity]

Protecting the free will of the people is what I would call a good government. Fine with me... the 'people'

I don't like visa or MC, in fact I cut mine up a few years ago, me too

but if we give VISA the power to ban someone they don't like what happens when you become that someone?

If you don't protect the rights of the people you don't like, you won't have any left for yourself. And power corrupts, always has, always will.

Hope you see the point. Business is Business but Discrimination at Political targets
is an attack on the Society of Iceland; their Public; their values. They get to decide.
Cheers,
G.