2018.11.22 15:59 Altruistic_Camel EconMonitor
2017.11.28 23:28 Hydro: Security & Identity on the Blockchain
2018.11.28 19:48 crazymusicman A place to discuss economics openly
2023.06.03 12:27 CapitalLigament UtopiaP2P - Catalogue of Great Privacy in Crypto, and AI Assistant Listed on CMC & CG
2023.06.03 12:11 Bitcoin_Maximalist Usage of the USD as a reserve currency
|submitted by Bitcoin_Maximalist to Bitcoin [link] [comments]|
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2023.06.03 07:23 dirkisgod [OFFER] CurrencyFair - €70 EUR total - €50 from them and €20 from me [EU/UK/Others]
2023.06.03 06:23 bloombergpapi Some interesting figures.
|submitted by bloombergpapi to canadahousing [link] [comments]|
2023.06.03 06:16 Used-Insect-757 Did Gandhi really fast to give 55 crores to Pakistan?
Answer:submitted by Used-Insect-757 to librandu [link] [comments]
No, Gandhi didn't gift 55 crores to Pakistan. Many such myths are being spread by the RW ecosystem to demonize Gandhi as a pro-Muslim appeaser. But according to the terms of partition, along with the division of land, even the assets will be divided. Now, to divide the money - a six-member committee was created to decide how the money would split. The committee then decided that out of 400 crores of assets presented by RBI at that time, 325 crores will remain in India and 75 crores would be given to Pakistan. It was also decided that until 1948, the Reserve Bank of India would work as a national bank for both India and Pakistan.
RBI used to print currency for Pakistan with the 'govt of Pakistan' tag on the currency
Now, hypothetically had Pakistan gone to ICJ and put a case on India, then there was 95% chance that ICJ would have ruled in Pakistan's favor since according to the 6-committee agreement, India had signed the agreement to give a sum total of 75 crore to Pakistan. Had that happened India would be humiliated in front of the world; if India couldn't fulfill this agreement it signed then how can other countries trust India when multiple agreements between India and other countries are signed in the future? Many countries would have been more reluctant to sign any agreements with India in the future. This is why Gandhi was of the opinion that India should give 55 crores to Pakistan, but he didn't force or compel Nehru/Patel to give 55 crores, he just had that opinion.
Regarding Fasting by Gandhi:
Gandhiji's picture in the fast that started on 12th January
In September 1947, Mahatma Gandhi reached Delhi from Calcutta to go to Punjab. Fierce Hindu-Muslim riots were going on in Delhi at that time. Vallabh Bhai Patel told Gandhi about the deteriorating conditions of Delhi. Gandhi immediately postponed the decision to go to Punjab and decided to stay in Delhi and go to Punjab after peace is established there.
When the situation in Delhi did not come under control even after several attempts, on January 12, 1948, 78-year-old Gandhi decided to go on a fast. He sat on a fast against these riots. In the prayer meeting on the evening of 12th January, he talked about peace between the people of both religions. Even in the prayer meeting on January 13th, Gandhi did not make any mention of Pakistan and Rs 55 crore. On January 15th, a journalist asked him the reason for this fast. Even in answer to this question, Gandhi did not make any mention of Rs 55 crore to be given to Pakistan. Giving money to Pakistan was also not included in the assurances given to Gandhi by the committee formed to end Gandhi's fast. There is no mention of Gandhiji's demand to give Rs 55 crore to Pakistan even in the press notes issued by the Government of India at that time.
The government of India paid 55 crores to Pakistan on the 16th of January 1948 and the fasting of Gandhi continued until the 19th, this shows that Gandhi didn't fast for 55 crores but for stopping Hindu-Muslim riots in Delhi.
Gandhi: the years that changed the World, by Ramchandra Guha
Let's Kill Gandhi, by Tushar Gandhi
2023.06.03 05:29 KoanicSoul Ukraine has allegedly sabotaged Zaporizhia like Chernobyl, to stop Russia and draw NATO in. Biden can't afford another Kabul.
Kawaii-Gopnik Russia really needs that powerplant without any leak, to provide industry of surrounding regions with energy, but very few people understand contexts of the current situation: Soviets built complicated and very well ballanced energy system, including not only NPP, but also cascade of hydro power plants. Donetsk, Dnepr, Zaporozhe and Kharkov regions are just one big power hungry plant. NPP itself is reliant on hydropower and quality of water in Dnepr river. In case of really bad "accident" Russia will forget about development of the newly accuired regions, lack of energy produced by NPP is significant, nearly 30-40%. Accident will affect south of Ukraine with russian majority. It will also be also disaster for ecology of the WHOLE Black Sea. Rose of winds will spread nuclear dust to the West - Poland, Romania, Czechia and further. Nuclear zone will stop russian army from further territorial expansion. This will be border formed by Dnepr and nuclear zones.The basic facts are documented by the International Atomic Energy Agency (IAEA). Even while shut down, ZNPP needs external power grid or diesel to prevent its reactors from overheating.
So, bright new plan. "The Greatest Ukrainian Offensive". The Ukraine would build up a big reserve of fresh troops, then suddenly hurl large chunks of them at particular points on the front. They would, the Americans planned, cut through a point in the front lines, penetrate to Russian rear areas, wreak havoc on those areas, and force Russian troops in danger of being encircled to hastily retreat from territory that had been slowly gained at enormous cost in grinding attritive warfare. I do not know how big the Ukrainian strategic reserve was, but if it was two hundred fifty thousand, they have now committed most of them to grinding attritive warfare, and cupboard is looking as bare of men as it is of artillery and rockets.The USA expected to break Russia economically; China's economic support prevented that. Despite PMC Wagner's heartfelt complaints, Russia is unlikely to run out of convicts anytime soon. Russia is rotating divisions through Ukraine, seasoning reservists for a looming WW3. Russia's historical appetite for losses is much higher than its current losses. This is essentially a civil war, and the Russia bear considers being carved up an existential threat. By underestimating Russia's resolve, NATO is repeating the error of Napoleon and Hitler.
Anonymous Sat 27 May 2023 04:59:49 No.428438077 Report 428437208 Yeah, the killing has been excessive since they pretty much destroyed 95% of Azov fags and assorted true believers in the first 200k dead, now they overshot it by 100%. About 12% of the non-Russian speaking population's prime military aged men in Ukraine are dead or crippled. 12-20% of the same demographic has fled the country. It's over, desu. They are seeing much more of the polish and romanian mercs now, since they literally lack the manpower.Western mass media wrongly assumes that Russia is losing because it does not take the entirety of Ukraine in a blitz, as the USA did to Iraq. However, Russia does not want West Ukraine; the people there do not like Russians. Russia has captured the territory it wants, and is now using the rest of Ukraine as a kettle or cauldron, in which to conveniently destroy whatever NATO wishes to send. This is a good way for Russia to gradually learn how to fight NATO armies in a low-risk environment.
Nehming Names 9h Russia's prudent caution in directly engaging the West is bringing dividends in perhaps unexpected ways. Russia is gaining strategic knowledge of the actual capabilities and weaknesses of our weapon systems and military tactics, with our supply of munitions draining to militarily unsustainable levels, as it engages allied forces in Ukraine. Russia is aware of the continuing progress of the Great Awakening in the West, that is, the knowledge that Western governments, military, and institutions are run by an elite hostile to their heritage populations, and therefore expects to see declining support of Western governments by their citizens. Russia can also see the precipitous decrease in every societal metric in the West: social cohesiveness, general morality, public health, financial stability, military readiness, etc.With these three degradative processes in play, the most strategic thing Russia and China can do is to bide their time, as time itself will act to sap the strength of the West to militarily engage their foes.
tinglevibestoo I listened to a former CIA agent talk about Ukraine the other day. He said that Ukraine is running out of time. It's not that they don't have the weapons. We've sent them a ton of weapons. It's that they don't have enough troops and they're running low on troops. That's how Russia will win. Ukraine can't sustain the manpower. It totally makes sense to use a nuclear false flag as a reason to bring in the extra manpower. Everyone would deem it justified too because it's a threat to the neighboring nations and it'd be an environmental (climate change) catastrophe.
AtlasThis is extremely dangerous, external power is required for reliable cooling of the reactors and pools containing spent nuclear waste. Western media spent months last year pretending Kiev wasn’t shelling ZNPP.
Anonymous Sat 27 May 2023 05:18:50 No.428439721 Report Quoted By: >>428463646 428436425 Still easy to transport diesel enough to keep them going In what? If NATO ops and Mercs are sabotaging trucks coming in, what do you think they are gonna carry diesel in to the plant? Is Russia gonna pack in rotopack Jerry cans on their back. Fill a truck up with 5 gallon cans and hope they make it past the snipers and sabotage? Do you have any clue how much fuel those big generators suck down in a day? Those generators to run the plants during shut down or failures are huge 500kw or bigger they are the size of whole 18 wheeler trailers. Those things will drink 50 gallons an hour. You gonna haul in 2.5 gallon rotopacks one at a time to keep it going?Nuclear power plants have tough shielding. Allegedly the diesel generators are hidden underground. However, the diesel fuel supply is still vulnerable.
OSINTdefender The Main Directorate of Intelligence for Ukraine has announced that the Russian Military is preparing for Large-Scale Provocation in the coming hours at the Zaporizhzhia Nuclear Power Plant in Southern Ukraine that will reportedly Simulate an “Accident” at the Plant causing the Emergency Leak of Radioactive Substances which will be Blamed on Ukrainian Forces.Then Russia announced it had caught saboteurs (presumably Ukrainian) in ZNPP's city:
Saboteurs who were preparing terrorist attacks on the NPP were detained in Energodar. They had with them maps and schematics of the nuclear power plant with marks for strikes that could lead to a nuclear catastrophe. The suspects are involved in collecting and transmitting information about the facilities of the Zaporozhye NPP on the instructions of the Ukrainian authorities. To communicate with the curators, they used foreign satellite systems, as well as foreign weapons for strikes and equipment for conducting reconnaissance and sabotage activities.
The world has turned it's back on *od now *od Is turning His back on the world. He Who Lets has been REMOVED. THE ANGEL OF DEATH HAS COME THE HARVEST OF THE TARES HAS BEGUN. And after these things I saw another angel come down from heaven, having great power; and the earth was lightened with his glory. (Earthquake Lights) And he cried mightily with a strong voice, saying, Babylon the great is fallen, is fallen, and is become the habitation of devils, and the hold of every foul spirit, and a cage of every unclean and hateful bird. For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies. And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues. For her sins have reached unto heaven, and God hath remembered her iniquities. Reward her even as she rewarded you, and double unto her double according to her works: in the cup which she hath filled fill to her double. How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow. (nothing ever happens) Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her. And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning, inb4sourceBB claims responsibility for the historical pendulum swinging rightward, via figures such as Elon Musk. His method of influence is the butterfly effect.
the Ukrainians attacking the Nuclear Power station in the hands of the Russians spewing radiation over enough territory that the Russians will turn Kiev into a furnace.– BB 2022-9-24
it's a little less than ten days… Until Nato SpecOps melt down the Uke Nuke plant and blames it on you.He continues:
Nato SpecOps have sabotaged power to the nuke plant. As of this posting, 6 days of diesel fuel remain to provide power to pumps to cool the plant and spent fuel pool. Diesel shipments are being targeted and terminated.He adds:
So now I need to tell you Russia intends a pre emptive strike if nuclear capable F16's are delivered.On the evening of May 27, Red Skull updated:
Doesn't look good at Nuke Plant. Russia has 4 days to get more fuel to the generators. They are working on clearing a flight path. Ukraine will try to stop them on orders of U.S. Uniparty.Sounds like a severe leak, to lose 2 days of fuel in under 24 hours.
Nuclear warheads that USA/UK sent. Specifically for the purpose of being exploded in Ukraine. The false flags will never stop until all out WW3 is declared, or until you root out the pedophile demon cult that is running the show and sending you monkeys to war. War for really no good reason at this point. The cities are destroyed, just withdraw. Ukraine is a kettle right now, a kill box. Do you understand what that means? And it was created on purpose.On May 30, Putin announced that Russia had destroyed the Ukrainian military intelligence headquarters. Photos confirm the damage.
2023.06.03 03:33 myninten-mythos [H]Greatball/Ultraball backpack code,Shiny Zeraora( SWSH stamp),Gen 7/SWSH/BDSP/PLA event,[W]PayPal(USD Only)
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2023.06.03 02:15 Master_Chief_72 Favorite cards so far
Not sure how rare these are still learning.submitted by Master_Chief_72 to Currencytradingcards [link] [comments]
2023.06.03 00:33 TidyCompetition OKCoin - Get $10 in free Bitcoin when you buy $100 worth of Bitcoin
2023.06.03 00:10 tutuler_kl Marriage GC Approved !! 250 days
https://preview.redd.it/fn7xwzouho3b1.jpg?width=1536&format=pjpg&auto=webp&s=4328fd63ea989e43362d79f55e3ca20c5217c86esubmitted by tutuler_kl to USCIS [link] [comments]
Family/marriage GC approved, no interview . It is a relief to get this freedom and still processing it :) Have to say goodbye to days when reddit/USCIS/Lawfully took pole positions in my screen time but first, thank you to everyone here for always helping, contributing and supporting each other through typical and atypical situations. So many other people have tougher situations than I did but this wait would have been longer if reddit was not there. I have tried to summarize my timeline, experience and resources below and sending all the fast processing vibes to people waiting here ! Indian citizen married to USC Feb 2022, transferring from H-1B visaI-130,I-1485, I-1765, I-131, I-693 concurrent filling, NBC, FO - SFNo lawyer but I used Simple Citizen- highly recommend. They prepare all the forms, answers questions and send a complete printed application which you just need to mail USCIS.Timeline :
2023.06.02 23:39 Then_Marionberry_259 Latest Shanghai exchange. Down over 300,000 kilograms over last month.
|submitted by Then_Marionberry_259 to MetalsOnReddit [link] [comments]|
2023.06.02 23:17 GamblingIsEvil Day 0 but good still but not because of winnings
2023.06.02 22:22 Dsomething2000 Latest Shanghai exchange. Down over 300,000 kilograms over last month.
|submitted by Dsomething2000 to SilverMoney [link] [comments]|
2023.06.02 21:44 Best_Club_In_America Game of Throwin' Everybody Under the Bus: J.P. Morgan's General Counsel claims he advised J.P. Morgan to dump Epstein as a client; Dimon claims he "didn't know he felt that way" and "doesn't recall" ever having seen his recommendation and insists ultimate responsibility lay on the General Counsel
https://preview.redd.it/nvpgshuyrn3b1.png?width=880&format=png&auto=webp&s=51c0de31a739a5f769863a7e371923d53e45b3f7submitted by Best_Club_In_America to Epstein [link] [comments]
tl;dr: "Our attorney should have known better, and if he says he did and tried to alert anyone, "I don't recall" that
Ultimate decider’ on Jeffrey Epstein was JPMorgan’s ex-top lawyer, says Jamie DimonBank’s chief executive testifies that former general counsel had ‘ability to override’ other executives
Jamie Dimon has identified JPMorgan Chase’s former general counsel as the “ultimate decider” who had the authority to axe Jeffrey Epstein as a client, according to sworn testimony by the bank’s chief executive.
Even if other executives such as Mary Erdoes, one of the bank’s most senior managers, had been vouching for the sex offender, the bank’s top lawyer was the person who “had the ability to override” their decisions, Dimon said.
Dimon made the assertion during a seven-hour deposition last week, a transcript of which has been seen by the Financial Times. He was responding to suggestions that the decision to retain Epstein had been made by Erdoes and Jes Staley, the disgraced financier’s former private banker.
According to the transcript, lawyers for the US Virgin Islands — which is bringing one of two cases against JPMorgan — indicated that Steve Cutler, the bank’s top lawyer from 2007 to 2016, had named Erdoes and Staley as the executives responsible for keeping Epstein on after his first arrest for sex crimes in 2006.
“If [Cutler] allowed them to make that judgment, it’s because he didn’t step in and say, you have to go,” Dimon said. “But he could have done that.”
Dimon’s deposition was taken in relation to two cases in which JPMorgan is accused of ignoring red flags relating to Epstein and benefiting from human trafficking. One has been brought by a woman who said she was abused by Epstein, and the other by the US Virgin Islands, where the late sex offender had a home.
Court filings in the two cases have detailed how Erdoes, who now runs the bank’s $4tn asset and wealth management division, and Staley, were involved in multiple internal conversations about whether Epstein should be dropped as a client, and that they personally visited his residences.
In 2011, Cutler sent an email that read: “I would like to put it and [Epstein] behind us. Not a person we should do business with, period.” He also wrote “This is not an honourable person in any way. He should not be a client.”
Dimon said Cutler would have had the authority to kick out a client if he judged something was “over the line”, although that did not mean that “because he didn’t like something he wouldn’t allow a businessperson to make a different judgment call”.
Epstein pleaded guilty in 2008 to a state charge in Florida of soliciting a minor for prostitution. He remained a client of JPMorgan until 2013.
“Mr Cutler had the ultimate authority to kick him out if he thought it had gone that far,” Dimon said in his testimony. “I think the ultimate decider would have been the general counsel of the company.”
Cutler, a former director of enforcement at the US Securities and Exchange Commission who subsequently left JPMorgan to go into private practice at Simpson Thacher, did not immediately respond to a request for comment.
JPMorgan said: “Had the firm believed he was engaged in an ongoing sex trafficking operation, Epstein would not have been retained as client. In hindsight, we regret he was ever a client.”
In his deposition, the 67-year-old Dimon said he first learned that Epstein had held accounts at JPMorgan for 15 years about four years ago, when the disgraced financier was arrested on federal sex crime charges.
“I don’t recall knowing anything about Jeffrey Epstein until the stories broke sometime in 2019,” Dimon said. “I was surprised that I . . . had never even heard of the guy, pretty much, and how involved he was with so many people.”
David Boies, a lawyer for the unnamed Epstein accuser suing JPMorgan, said on Wednesday that Dimon had admitted the bank’s “top executives knew for years that Epstein was a convicted sex offender who continued to target young women”.
“Epstein withdrew hundreds of millions of dollars a year in cash to fund what he was doing, and . . . used his web of JPMorgan accounts,” said Boies, a claim JPMorgan called “patently and verifiably false.”
Boies added: “If, as he claims, Mr Dimon was the only person in New York who never heard of Epstein before July 2019, that is an indictment, not a defence.”
Dimon also denied ever being informed about Epstein’s accounts or behaviour by Staley, whom the bank is suing for allegedly withholding information about Epstein and for vouching for him internally.
Earlier on Wednesday, The Wall Street Journal reported that Staley claimed to have spoken to Dimon in person about the account on several occasions — an allegation JPMorgan described as “false”.
tl;dr: WSJ reported that there's proof Staley had communicated with Dimon about Epstein; J.P. Morgan claims the WSJ is lying and that it's own CEO "not recalling" such communications = "proof they never happened"
JPMorgan Chase CEO Jamie Dimon testified last week that top bank executive Mary Erdoes and the firm’s then-head lawyer had the authority to boot sex predator Jeffrey Epstein as a customer well before Erdoes finally took that step in 2013.
Questions by lawyers to Dimon at his deposition Friday for two lawsuits against JPMorgan underscore that Erdoes and the lawyer, former JPMorgan general counsel Stephen Cutler, were aware of claims Epstein had preyed on young women while a client of the bank for years.
Erdoes in her own deposition, taken previously, admitted that she as early as 2006 was aware that Epstein was accused of paying cash to have underage girls and young women brought to his home, court filings reveal.
But Dimon on Friday repeatedly said he had no knowledge of such claims about Epstein, and that he was barely aware of him at all until 2019, according to a transcript of the deposition obtained by CNBC.
The lawsuits against the bank allege Epstein used money from his JPMorgan accounts for the sex trafficking of young women, and that the bank retained him as a customer to maintain his business despite serious warning flags about him.
One suit against the bank was filed by the government of the U.S Virgin Islands, where Epstein maintained a residence on a private island. The other suit was filed by an Epstein accuser who is seeking to certify the complaint as a class action for other victims.
During his deposition, Dimon was shown an email that JPMorgan’s then-general counsel Cutler Cutler sent Erdoes about Epstein on July 21, 2011.
In that email, Cutler wrote: “I would like to put it and him behind us. Not a person we should do business with, period.”
“This is not an honorable person in any way,” Cutler wrote in an email a day earlier to Erdoes, another top executive, Jes Staley, and two other bank executives, according to a lawyer who was questioning Dimon during the deposition.
“He should not be a client,” Cutler added in that email.
Cutler, in his own deposition last week, “testified under oath that Jes Staley and Mary Erdoes made the decision to retain Epstein as a customer of the bank,” a lawyer told Dimon.
Dimon testified Friday that he was not aware of that email by Cutler when it was sent.
But he also said, “Mr. Cutler had the ultimate authority to kick him out if he thought it had gone too far.”
“He was delegating reputational decisions to somebody else” Dimon said, apparently referring to Cutler’s claim that the decision to retain Epstein was made by Staley and Erdoes.
Staley, like other powerful men such as former Presidents Bill Clinton and Donald Trump, as well as Microsoft co-founder Bill Gates, was a friend of Epstein. Staley had made social visits to Epstein’s homes in Manhattan and the U.S. Virgin Islands. He is due to be deposed in the suits on June 10 and 11, according to a source familiar with the schedule.
Dimon was deposed at JPMorgan’s headquarters in New York by lawyers for the plaintiffs, and for Staley, who JPMorgan argues in its own legal complaint against him is responsible for any civil liability a jury might find.
Epstein was terminated as a customer in 2013, two years after the emails and five years after he pleaded guilty to a Florida state charge of soliciting sex from a minor.
As a result of that conviction, he had to register as a sex offender. Epstein killed himself in a Manhattan jail in August 2019, a month after being arrested on federal child sex trafficking charges.
A lawyer asked Dimon during the deposition: “As CEO of private [banking] or asset and wealth management, Mary Erdoes could have decided to terminate Jeffrey Epstein as a customer, as a client, of JPMorgan; is that right?”
Dimon answered, “I generally would say that’s true, yes.”
Erdoes testified in her earlier deposition that JPMorgan dropped Epstein as a client in 2013 after she learned that his withdrawals from his accounts were for “actual cash,” according to court filings.
“I have trust and respect in both of them,” Dimon testified about Erdoes and Cutler.
“My view is had she known what she had known today, she would be saying exactly the same thing I said,” Dimon said, referring to his statement that he would have terminated Epstein as a client if he knew about his conduct at the time.
“There’s a chance that Jes knew, that’s why they’re different.”
Dimon testified that he was not informed that Epstein was indicted in Florida for sex crimes in 2006, or of other concerns about him that others at the bank raised, the deposition reveals.
“I don’t recall knowing anything about Jeffrey Epstein until the stories broke sometime in 2019” Dimon said, referring to when Epstein was arrested on federal child sex trafficking charges.
“I was surprised that I didn’t even — had never even heard of the guy, pretty much. And how involved he was with so many people,” Dimon said.
A lawyer then asked, “Were you aware that Jeffrey Epstien was promoting you to contacts as a candidate for Secretary of the Treasury?”
Dimon replied: “Nope.”
When asked if the accusers of Epstein deserved an apology, Dimon said, “I think what happened to these women is atrocious, and I’m horrified at the amount of human trafficking that takes place.”
“And I wouldn’t mind personally apologizing to them, not because we committed the crime, we did not, and not because we believe we’re responsible, but that any potential thing, what little role that we could have eased it or helped catch it quicker or something like that, or get it to law enforcement quicker or get law enforcement to react to it quicker, which they obviously didn’t, you know, I would apologize to them.”
“For that, yes,” he said.
The Wall Street Journal reported earlier Wednesday that legal documents in the cases show that Staley discussed Epstein with Dimon over the years, including when Epstein was arrested in Florida in 2006 and when he pleaded guilty in that case two years later.
“Staley also said that Dimon communicated with him various times about whether to maintain Epstein as a client through 2012,” The Journal reported.
A JPMorgan spokeswoman in a statement about The Journal’s article said, “We believe this is false.”
“There is no evidence that any such communications ever occurred — nothing in the voluminous number of documents reviewed and nothing in the nearly dozen depositions taken, including that of our own CEO,” said Patricia Wexler, the spokeswoman.
Wexler later Friday told CNBC, “Had the Firm believed he was engaged in an ongoing sex trafficking operation, Epstein would not have been retained as client.”
“In hindsight, we regret he was ever a client,” Wexler said.
2023.06.02 20:29 Gestobersenpai [OFFER] 50$ with Uphold - 40$ from Uphold & 10$ from me(WORLDWIDE)
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2023.06.02 19:12 Alyafei-Ameera Payment gateway vs Payment processor vs Merchant account
The payments industry is a fast-paced market that is constantly changing due to the introduction of new payment systems and new technologies.submitted by Alyafei-Ameera to u/Alyafei-Ameera [link] [comments]
We're seeing payment technology companies play a bigger role in the payments industry, particularly as technology advances—and many of them are even integrating with traditional financial institutions to appeal to the new consumer and merchant preferences. Unlike in the past, when payment processing was simply about facilitating the flow of money, the latest payment processing players are completely redefining the customer experience and enabling business owners to operate their businesses with remarkable ease.
On the surface, the payment processing industry appears to be easy, but there are many parties involved in what appears to be a simple procedure. When a customer swipes their credit or debit card at a payment terminal, the transaction usually takes just a few seconds—but the procedure itself requires several steps and several players that communicate with one another. So, first and foremost, we must understand how it functions.
Let us begin with the individuals involved.
Fatima, a cardholder, buys an apple from Mohammed, a brick-and-mortar dealer, for 1.00 QR. Fatima inserts her credit card into a chip reader and dials out to obtain an authorization code at the POS (point-of-sale) terminal. What happens next is as follows.
The Authorization Process
Ø The information collected on the POS terminal is first sent to the acquirer by the payment processor.
Ø The acquirer sends the information to the issuing bank through the credit card network, says Visa, and requests payment authorization for a one QR transaction from the issuing bank.
Ø The issuing bank checks to see if Fatima has enough money if the expiry date is correct, and several other items, such as matching Mohammed's business address and the cardholder's billing address.
Ø When the issuing bank confirms that all is right, it issues an approved authorization code and returns it in the same manner that it received an authorization request from Visa and the acquirer.
Ø On his POS terminal, Mohammed sees the accepted message.
Ø The issuing bank places a one QR hold on Fatima's credit card account in order for Mohammed to collect the proceeds from the transaction.
The Settlement Process
Ø At the end of the day, all these authorizations are stored in a batch in the POS terminal.
Ø When Mohammed close the batch, the payment processor sent it back to the respective issuing bank for final clearance, using the same channels as before.
Ø They are sent to the acquirer first, and then to the issuers via credit card networks.
Ø Following the acquirer's funding of the merchant's bank account, each issuing bank eliminates the hold and withdraws actual funds from the cardholder's account.
Now you understand the whole payment cycle. So it's time to dive in and grasp the most puzzling words that merchants encounter while searching for online payment services: a merchant account, a payment processor, or a payment gateway.
What is a Merchant Account?
In layman's terms, a merchant account is similar to a holding account where all payments are routed before being deposited into a traditional bank account. This account is dedicated to accepting payments from online merchants. So all the online payments received for your sales are stored in this account. A merchant account is the same whether you sell physical things, subscriptions, or digital products.
After successfully applying for a merchant account, each merchant is granted a unique Merchant ID. A merchant ID is a one-of-a-kind code provided to merchants by a payment processor. This code, which is frequently abbreviated as MID, is provided to parties involved in transaction reconciliation along with cardholder information. When communicating with their processor and other parties, a merchant can use the MID to help them identify themselves.
Your merchant account might be classified as either high risk or low risk based on criteria defined by merchant service providers.
The following are the most common criteria, considered to classify high-risk and low-risk merchant account:
ü Average monthly sales volume
ü Average credit card transaction
ü Different currency accepted
ü Offer recurring or subscription package
ü History of excessive chargeback
ü Main product offering
ü Sell to a high-risk country
These criteria differ considerably depending on the payment processor's guidelines.
Many times, small business owners have never heard the phrase "high-risk merchant account" unless their company is recognized as such. At first, it appears to be a bit mysterious. In some situations, it may appear to be an unjust judgment against your company, the service you give, the items you offer, or you personally. However, this should not be cause for concern. You would be able to obtain better payment options if you have a thorough understanding of this term.
At first falling into the high-risk merchant account category seem like a disaster, but it isn't. It really has a lot of advantages.
What is a Payment Processor?
A payment processor is a financial organization that provides payment processing services to online retailers. For merchant acquiring banks, they manage transactions from different sources such as credit cards and debit cards. It may form alliances with other businesses that interact with merchants or consumers. They are usually divided into two types: front-end and back-end.
o Front-end processors have links to different card organizations and provide merchant banks with authorization and settlement services.
o Back-end processors approve settlements from front-end processors and, for example, transfer funds from the issuing bank to the merchant bank through the Central Bank.
To offer their services directly to an online merchant, a payment processor gets into a reseller relationship with a payment gateway or a merchant account provider.
Payment processor example: PayPal is the first online payment processing company, founded in 1998.
What is a Payment Gateway?
A payment gateway allows you to be paid online when your clients make an online purchase. You can accept card payments directly from your website with the authorization granted by a payment gateway. As a result, it serves as a link between the transactions on your website and the payment processor. Transaction data cannot be disclosed due to security issues.
Before submitting the authorization request to the processor, several payment gateways offer tools for automatically screening orders for fraud and calculating tax in real-time. The tools for detecting fraud include geolocation, velocity pattern analysis, 'blacklist' lookups, delivery address authentication, identity morphing detection, and basic AVS tests.
There are many other factors to be considered when selecting a payment gateway. Check out here for more detailed information about payment gateway https://sadad.qa/en/best-payment-gateway-qata
Payment gateway vs Payment processor vs Merchant account
The most crucial parts of online commerce are payment processors, payment gateways, and merchant accounts. Any company that accepts online payments must understand the key differences and similarities between these three.
Certain compliance and formalities must be followed if a retailer wishes to open some sort of account.
In order to obtain a merchant account, you must have extensive paperwork showing that what you offer is legal and does not violate any foreign laws or internal bank regulations.
Following the initial compliance audit, an additional bank compliance verification, such as:
· Do your company and website meet the compliance criteria of major card providers such as Visa, MasterCard, or American Express?
· Your chargeback History – have you kept a fair number of chargebacks?
This phase could take up to a week or month in total.
As you can see, obtaining a separate merchant account is a difficult task, but it is well worth the effort.
There is even less documentation to fill out in order to receive processor approval, and you will have access to your account in a matter of hours. As a result, this is one of the fastest strategies in terms of approval time. But it comes at a price.
For payment gateway, you need not wait for your account to be accepted, you will have immediate access to it.
For merchant account setup, you will be given either a snippet of code to implement on your website or full API and testing sandbox access. Custom integration with your website or app will be needed. You may need to perform custom integration with your website or app. Payment processors have regular solutions. There is no space for customization. Payment gateway implementation varies depending on the service provider and the technologies used to create the API or website.
Account stability refers to the assurance that your account will not be shut down or placed on hold unexpectedly.
For an individual merchant account, you have complete control over the stability and efficiency of your account. In the event of a problem, your account manager will contact you. In the case of a payment processor, Merchants are not reviewed for Visa/MasterCard compliance and, instead of assisting them in complying with the regulations, the chances of account termination are increased without much clarification. While using a payment gateway, account stability varies depending on whether you're connecting with a payment processor or a merchant account.
Expect a flat-rate pricing model when working with a payment processor. In contrast, depending on the merchant's business model and transaction volume, pricing in a merchant account is typically versatile and completely negotiable. If you use a third-party payment gateway solution, you can incur costs for integration and usage.
You can build your own anti-fraud rules and exceptions with a merchant account and a payment gateway to allow legitimate customers in. In a payment processor, this type of freedom is not available. As a result, the rate of payment acceptance is poor.
Terms & conditions
Terms and conditions for merchant accounts can be negotiated depending on the business model and processing volume. However, this is not the case for payment processors.
There are several crucial circumstances that could have an effect on your online payment infrastructure. When selecting either of these, you should keep support in mind as a critical factor. You will be assigned a dedicated merchant account manager when you open a dedicated merchant account. In the case of a payment processor, you must meet standard protocol to get the problem resolved. Support for payment gateways varies depending on whether you're integrating with a payment processor or a merchant account.
You don't have to be concerned with payment gateways, payment processors, or merchant accounts. Since, Sadad will provide you with anything you need to sell effectively anywhere in the world, including a payment gateway, merchant account, and plenty of other advanced processing features. The All-in-One Payment Platform from Sadad is easy to use and adaptable. When you have concerns or want to expand your sales territory, you can count on us for customized advice and help.
If you have any payment problems, please let us know https://sadad.qa/en/ so that we can assist you.
2023.06.02 18:47 Transact_Bridge Global Payments: Innovation that Delivers
https://preview.redd.it/srst2fcvvm3b1.png?width=1280&format=png&auto=webp&s=4bcc03d03d8304d31271a91cd03dac5fa1324c82submitted by Transact_Bridge to u/Transact_Bridge [link] [comments]
Transact Bridge are the professionals that introduce your business to India since success in expanding markets need the help of a professional. Transact Bridge specialise in localization for emerging markets. This implies that we are fully committed to providing a versatile, all-inclusive payments solution that maximises reach in emerging countries and generates new income streams. Your increased success rate and client retention speak for themselves as the payments become simple.
The capacity to conduct rapid and smooth international payments has become essential for both organisations and individuals in our increasingly linked society. Recent years have seen a tremendous transition in global payments due to the quick development of technology and the move towards digitization. New approaches have surfaced, promising improved ease, speed, and security. The environment of international payments is always changing to suit the expanding demands of a globalised economy, from mobile wallets to blockchain technologies. This essay will examine the technologies that have transformed international payments and explain how they help businesses and consumers everywhere.
Mobile Payments: With the rise of smartphones, people may now conduct transactions using their mobile devices. These solutions enable mobile payments. Near-field communication (NFC) technology is used by apps like Apple Pay, Google Pay, and Samsung Pay to enable users to make secure contactless payments at real businesses. This invention has improved transactions for users by streamlining the payment process and reducing the need for physical wallets.
Through clever routing, Transact Bridge optimises payment processing for common Indian payment options. Transact Bridge assists companies in processing payments using various payment methods such as UPI, credit/debit cards, net banking, and mobile wallets, as well as identifying the most cost-effective and dependable suppliers for each transaction. The features of TB smart routing mean that businesses can deliver a seamless and efficient payment experience to their consumers while decreasing costs and enhancing dependability. Transact Bridge may also help you take recurring payments via credit cards, UPI, and e-mandates.
Peer-to-Peer Payments: P2P payment networks have become incredibly popular in recent years. Splitting costs or repaying pals is simple thanks to services like Venmo, PayPal, and Square Cash that enable users to transfer and receive money straight from their bank accounts or credit cards. By removing the need for actual currency or checks and enabling immediate transfers between persons across borders, these platforms have revolutionised the way people transact money.
Blockchain technology and cryptocurrencies: Blockchain technology has become a disruptive force in the world of international payments. Decentralised blockchain technology is used by cryptocurrencies like Bitcoin and Ethereum to enable safe and open transactions. Intermediaries are eliminated, transaction costs are decreased, and transaction speed is increased thanks to blockchain technology. Furthermore, stablecoins like Tether and USD Coin offer the advantages of cryptocurrencies while keeping a stable value, making them appropriate for regular transactions.
Biometric authentication: Security is of utmost importance in the global payments environment. As a safe and practical way to confirm user identities, biometric authentication techniques like fingerprint scanning and face recognition have gained popularity. This technology adds an extra layer of defence against fraud and unauthorised transactions by ensuring that only authorised users can access and initiate payments.
Cross-Border Payments: Conventional cross-border payments have long been seen as being expensive, labour-intensive, and requiring complicated processes. However, by utilising digital platforms and technology, forward-thinking fintech firms are revolutionising the cross-border payments scene. International money transfers may now be completed more quickly, more affordably, and with greater transparency thanks to services like Transact Bridge.
Innovation and technology have driven a dramatic revolution in global payments. These innovations, which range from peer-to-peer networks and mobile payments to blockchain-based services and biometric verification, have completely changed how we interact and do business on a global scale. These developments have given people and organisations real advantages by reducing procedures, boosting security, and improving convenience. It is obvious that innovation will continue to be at the forefront as the landscape of global payments continues to change, transforming how we send, receive, and handle money globally.