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Thread: Stacking physical cash

  1. #511

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    I thought we were printing more cash? Well, certainly not physical cash, just electrons.

    "The number of dollar bills rolling off the great government presses here and in Fort Worth fell to a modern low in the last fiscal year."

    http://www.nytimes.com/2011/07/07/bu...ency.html?_r=1

    "Mr. Zazula, the restaurateur, made his decision in 2009, inspired by a flight on American Airlines, which had just introduced a no-cash policy. He said that 85 percent of his customers already paid with credit cards, and taking cash to and from the bank was a nuisance and security risk.

    Two years later, Mr. Zazula said he had no regrets.

    “You still have some people that are outraged that we won’t accept cash,” he said, “but most of it is a show because they end up having a credit card.”

    But Commerce remains a rarity. Experts on payments cannot name another no-cash restaurant. Snap, a cafe in the Georgetown neighborhood of Washington, rejected cash in 2006, then reversed the policy a few years later.

    Businesses are not required to take cash. The famous phrase “legal tender for all debts” means that lenders — and only lenders — are required to accept the bills. But most merchants don’t see the point in frustrating customers."

    Mr Zazula isn't getting my business. Same with EZ Pass (which, I don't have, of course). I may have to drive out of my way if they refuse to take cash at tolls...not at all a bad thing. And I will be spreading the news about physical cash to anyone who will listen. Use electrons and be tracked, bought and sold.

  2. #512

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    Ok, this supports the notion that the Fed will protect the system at all cost. If there were a collapse of the system.....as in you couldn't gain access to funds you didn't hold, then there would be no confidence in the electronic version of our currency. In other words, 'if you don't hold it you don't own it'!

    Now, I do understand that even if you hold cash that it has been and will continue to lose value or ability to 'tip a scale'. I would like to think that this, some weight carried by US currency, will be protected at all cost. The Dollar IS the reserve currency and a hefty price would have to be paid if it were to suddenly collapse. When I say price.....well, think about the most powerful men in the world vs the banking system.....bankers will protect their lives at all cost.

    And Ill add that China still has an axe to grind with the Banking Cartel. And we know of the already millenniums long strife between the banking class and the oil class....nuff said.

    I believe that smart people trust cash more than credit/electronic money. I started to offer a cash discount several years ago to offset CC fees and was surprised to see 95% of my CC transactions move to cash/check.
    Last edited by TeamFerret; 08-09-2015 at 01:56 PM.

  3. #513

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    Quote Originally Posted by Atlas Shrugged View Post
    Mr Zazula isn't getting my business. Same with EZ Pass (which, I don't have, of course). I may have to drive out of my way if they refuse to take cash at tolls...not at all a bad thing. And I will be spreading the news about physical cash to anyone who will listen. Use electrons and be tracked, bought and sold.
    Using cash for toll roads isn't all rainbows and unicorns here.

    It is my understanding that they video at a minimum E-Z pass lanes (for administrative issues, should you go too fast through, and you miss paying), and presumably cash lanes as well, and license recognition software can track license plates and toll location.
    Legal Disclaimer: I am not a doctor, nor do I play one on TV.

    "It's tough to make predictions, especially about the future." -- Yogi Berra
    A variant of this has also been attributed to physicist Niels Bohr, and others.

    "Tis against some menís principle to pay interest, and seems against othersí interest to pay the principal." -- Benjamin Franklin

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    Book title: "The Best Way to Rob a Bank Is to Own One"

  4. #514

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    Mr. Zazula must be one of the rare honest merchants. . Don't most business folks keep their 'accounting' in duplicate. . one for the IRS, one for reality. . CC payments go on the books. . yes. . electrons are tracked. . . . but Cash . .in a restaurant . .really . . . Cash payments go right into the owner's pocket . . and "never happened" is the story thereafter . . .
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

  5. #515

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    Quote Originally Posted by Atlas Shrugged View Post

    . . . Businesses are not required to take cash. The famous phrase “legal tender for all debts” means that lenders — and only lenders — are required to accept the bills. . .
    A typical NYT load of steaming Fed propaganda for an uncritical public. What does 'legal tender for all debts' mean anyway? That someone can offer the stuff legally? And why wouldn't an institution that lent the FRNs out in the first place be required to accept them back as payment?

    But everybody knows" this means you have to use this as money, right, because it says so, where?

  6. #516

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    Quote Originally Posted by AnotherDave View Post
    A typical NYT load of steaming Fed propaganda for an uncritical public. What does 'legal tender for all debts' mean anyway? That someone can offer the stuff legally? And why wouldn't an institution that lent the FRNs out in the first place be required to accept them back as payment?

    But everybody knows" this means you have to use this as money, right, because it says so, where?
    It means currency is debt and debt is currency. Cash is a debt repayment certificate.

  7. #517
    Join Date
    Jul 2015
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    224

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    Heard on NPR that some foreign country was fining people up to $25,000 that had to be paid in US Dollars.



    "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default."

    -Alan Greenspan

  8. #518

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    Quote Originally Posted by winehouse View Post

    "The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default."

    -Alan Greenspan
    that is certainly true, but the buck of repayment will certainly not have the sale purchasing value anymore, and that is the itch of the joke. Golditiki2 +++

  9. #519

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    Quote Originally Posted by golditiki2 View Post
    that is certainly true, but the buck of repayment will certainly not have the sale purchasing value anymore, and that is the itch of the joke. Golditiki2 +++
    It's a wash. One cancels the other, assuming that it is then taken out of the system, as are the "income taxes" the public contributes every year.

    If they knew that income taxes were only a mechanism for removing excess FRN currency so that it doesn't inflate, I'll bet we would have far fewer people volunteering their "fair share"

  10. #520

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    Quote Originally Posted by AnotherDave View Post
    It's a wash. One cancels the other, assuming that it is then taken out of the system, as are the "income taxes" the public contributes every year.

    If they knew that income taxes were only a mechanism for removing excess FRN currency so that it doesn't inflate, I'll bet we would have far fewer people volunteering their "fair share"
    I dunno ....depends on the spin . . pay now in taxes, or pay more later with inflation, voluntary taxes are the American way. . be a good American. . wave the flag and pay your fair share with pride. We are all in this together. . takes a village. . .equality and level playing field .. U.S.A. . . I have little faith . . . even if everyone knew that income taxes were only a mechanism for removing excess FRN currency so that it doesn't inflate .. you'd still get a sizeable chunk of socialist minded people who would want to give and give and give (other people's money) give away to make society better for all.
    No his mind is not for rent
    To any god or government
    Always hopeful, yet discontent
    He knows changes aren't permanent
    But change is

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