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Wtf is wrong with y'all? He should FORBID her to see him? I checked the clock and I think it's 2011, not 1653 or whenever the fuck you people are from.
"So you think you can handle two boyfriends huh? Well, let's see how you make out

"
This is all you can do and this is how you tell her you have more value than her. Alternatively, you can chode out like everyone else and tell her implicitly that you really need her and how miserable you are going to be when she leaves you and continue to implicitly beg her (yes, beg her) to stay with you by asking her in whatever way not to see this guy.
Encourage her to do it.
I don't think telling her no or forbidding her is wrong. Everybody says this mumbo-jumbo about how it's showing weakness/lower value. But to me, the fact that you can tell her no and expect her to not do it implies that you have power - hell, the fact that she is asking you whether or not she can go implies that you have power in the relationship. It's about how you say it. Because begging her not to go would look weak. Basically, if you say no, and she does it anyways - you're weak.