“Raising Fees Artificially Is A Horrendous Act On Part Of MasterCard, A Big Down For The Bankers”, Exclaims Anthony Pompliano
Anthony Pompliano, the founder and partner at the Morgan Creek Digital grabs on to the recent news as per which MasterCard was fined heavily owing to increasing fees artificially for their own taking. This, as Pompliano suggests is nothing short of scamming and is a “horrendous” business model of MasterCard. The fine was approximately more than $600 million and was imposed by the European Union (EU). Pomp considers this an extreme down and a major flaw of the current banking system and sets on to hitting the current financial system with all his might. Though cryptos might have their own flaws and cons, but as per Pompliano, the pros weigh out the downsides in an elegant fashion. But for the Bankers, Pomp has some bad news as the downfall of MasterCard is a big hint of the current system collapsing. The founder of Morgan Creek Digital suggests that in order to let the legacy financial payers win, one has to lose, being the “horrendous business model”. In order to burn the fiat system down to the ground, the cryptos must work over innovation and that goes for the fiats too in case they seek to excel the cryptos in this regard. BlockPublisher got to discuss the very talk with Pomp and garnered some comments shedding light to the very details.
MasterCard after being alleged of raising fees artificially got heavily fined by the EU, to more than a mark of $600 million. As horrendous as their business model is, this would turn events more towards the cryptos as it is a down for the Bankers.
Pompliano, being the crypto enthusiast that he is has always sided with the cryptos bashing the fiats and the bankers is his every statement. He considers that the business model that MasterCard operates over is simply outrageous. For one party to win, the other player must lose and the extent of the win directly depends upon the extent of loss for the other party. Pomp further has some comments for the very business model over which almost every corporate organization operates.
The legacy financial players can only win if you lose — what a horrendous business model. Long Bitcoin, Short the Bankers!
