It is bizarre to bring up China here, this isn't about the state dictating the payment system but maintaining a healthy market. It's like a garden, you don't dictate exactly how the plants grow, but you prune them once they encroach onto other plants to maintain a healthy balance.

I brought up Amex because it is common for merchants to not accept it, due to it being a significantly worse deal for the merchants. I am fine with the argument for an even more expansive version of my argument, but I'm making a more narrow argument due to discover, visa, mastercard being so close in how they function that it is not a burden on merchants to accept one vs the others.

I'll leave the cash option aside because the provider of cash is the US treasury. But yes, I do think it is wrong for a merchant to only allow mastercard or visa or discover. I understand merchants not taking Amex because their fees are significantly higher on the merchant side, but discover, mastercard, and visa are all similar for the merchant. I work in payment processing for a multi billion dollar company and we gladly accept all of these card types. My issue is with visa providing Costco with a kickback, so that Costco then pressures you to have an account with visa. It should be totally fine if someone just happens to have only mastercard cards and wants to shop at costco. I'm against kickback schemes.

As for the AML/KYC ineffectiveness argument, I'm reading through that 2018 study now.

I'm sorry, are we really saying that it's acceptable for the market to begin preferring one completely compatible payment network vs another? This is clearly an undue influence in the market due to monopolistic power being used as leverage. No one should have to open an account with visa just to shop at a retailer. Anti competitive and anti consumer to the core.

> But that really has to do with ridiculous regulations and things like KYC, but we're not ready to have that conversation yet.

Ahhh, fearmongering about KYC. Know your customer is an obviously good regulation for banks to know the type of business they are partnering with for both risk assessment and anti fraud protections. So, what scams are you in favor of allowing by removing KYC regulations?

I'm sorry to rebutt your very first assertion but we had been in a cultural and scientific Renaissance and the last 15 years have been the slow unwinding of that. We got lucky that the internet explosion overlapped with the tail end of publicly supported cultural and scientific production.

I hung out with physics majors in college, all of them smarter than us compsci chuds, and uniformly they are absolutely struggling to survive as post docs or in industry. One of my college buddies has worked at nasa for 4 different firms and has had to move to Texas, Kansas, and Maryland for these gigs and has once again landed on a project where the funding got cut and is looking for a new job. Another works in nano scale semiconducting and had to move to Finland to get project funding from the EU since the US has made basic research funding so scarce. And after several post doc roles he is leaving the field after his last grant wasn't renewed, with not an ounce of negative feedback. Just, sorry we don't have any money anymore. He's now going to go into failure analysis for a mobile phone manufacturer to pay the bills.

The woes of cultural production have also been well documented.

We are in a cultural and scientific collapse

If so then what countries in Europe (sans the Balkans) or East Asia do you think are less politically stable than the US?

What is January 6th if not a concrete example of recent political instability?

As for foreign policy consistency, 7 administrations takes us back to Reagan... The entire movement to sell out our industrial capacity to China and now the movement to try to reverse that have occurred in this time frame. This is just as important as our endless wars in the middle east, imo.

I don't disagree totally but I felt the need to put some nuance here.

It's also why this will be the Chinese century.

Also, once the people who speak up about a problem leave, all you are left with are idiot yes-men in management, old timers doing their job as minimally as possible to not to be noticed by management, and fresh new engineering grads ready to be grist for the mill. When those sorts of people are writing all of the code around you, no matter how good you are, you will be driven insane.