PayPal Terminates Account of Hong Kong Pro-Democracy Party Citing “Excessive Risks”
One of Hong Kong’s last remaining pro-democracy parties said Wednesday that PayPal had terminated its account, citing unspecified “excessive risks”. AFP via Insider Paper has the story.
The League of Social Democrats (LSD) posted online that in September it received an email from the Hong Kong division of the U.S. multinational saying its account had been shuttered.
PayPal’s email said the decision was final, explaining that, “upon review of your account we have determined there to be excessive risks involved”, without giving further details, the LSD said.
“We can only call on our supporters to donate via other channels… we are struggling to stay afloat in turbulence,” the group wrote.
AFP has sought comment from PayPal.
The LSD is a Left-wing political group founded by veteran democracy activists.
Most of its core members have served multiple jail terms due to various protests and have been recently released, except founding member “Long Hair” Leung Kwok-hung.
PayPal stock fell 6% on Monday following backlash over the weekend after its updated acceptable use policy included a $2,500 fine for “misinformation”. The company has now removed that specific clause, claiming (implausibly) that it was included in error – though the threat of the fine is still there for lots of others misdeeds, including anything deemed “objectionable” by PayPal in its “sole discretion”.
Worth reading in full. And click here for info on how to delete your PayPal account.
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The Silicon Valley masters no longer attempt to conceal their vision of future Technocracy, which IS in essence Chinese-style Communism.
A top down neo-feudalism, where we own nothing and be happy, while they swan around the globe in their private jets.
Do as we say (but not as we do)…. Or else!
Be under no illusion as to who really calls the shots at PayPal.
Yep it’s those friendly, neighbourhood ‘passive’ investments funds: BlackRock, Vanguard and State Street again!
My theory is that Paypal is being thrown under the bus to act as a bellwether for forthcoming ‘social credit’ style restrictions from other mega corps owned by the big three – wait until Apple, Google and Amazon start fining their customers.
https://money.cnn.com/quote/shareholders/shareholders.html?symb=PYPL&subView=institutional
Don’t use Apple or Amazon. Must now just wean myself off Google.
It’s getting a bit too obvious, now, isn’t it? PayPal is clearly operating under duress. The entire boardroom must be over a barrel.
It is the CCP which calls the shots in Hong Kong, not PayPal (and the Party is no doubt ultimately behind this tyrannical account suspension)
In general it entirely suits their (and their Western fellow travellers) anti-democratic agenda to continue to promote the neo-Marxist ‘private enterprises are inherently evil, greedy and oppressive’ line.
Whilst cynically attempting to harness the huge economic benefits of free enterprise within nominally still communist China (this apparent business freedom of course disintegrating the millisecond it runs up against any contradictory state interests or objectives).
I do hope all those who value your freedom and right to free speech cancel your pay pal account. It is the only way to get your concerns across to a bought and paid for company. Do it now.