Here’s what a cashless society means

[Cholo]

Prostitutes now take credit cards.

They've been doing that for years!

Uh, that's what someone told me, anyway. Moving along now...

LOL

 

[mirglip]

They've been doing that for years!

Uh, that's what someone told me, anyway. Moving along now...

LOL

Yeah, I was wondering how he knew that.

 

[Joe Reilly]

Prostitutes now take credit cards.

After they slip you a “Mickey” and you end up shanghied.

 

[Yaworski]

After they slip you a “Mickey” and you end up shanghied (sic).

That's DisneyWorld.

 

[GypsmJim]

I seldom use a card for anything but buying gas. Occasionally I order something online. Otherwise it’s just cash. I spend less money that way, and I strive to be a a tight wad and and save as much as I can.

I know people that went crazy with the card and then ended up being so far in debt that they had to cut up all their cards. THAT's simply being irresponsible and not knowing how to manage money.

OTOH, some people use cards for 100% of their "necessities", pay every 30 days, and end up getting a hefty rebate every month. THAT's how to save money.

 

[mirglip]

I know people that went crazy with the card and then ended up being so far in debt that they had to cut up all their cards. THAT's simply being irresponsible and not knowing how to manage money.

OTOH, some people use cards for 100% of their "necessities", pay every 30 days, and end up getting a hefty rebate every month. THAT's how to save money.

Convenience again.

 

[Bear Paw Jack]

I know people that went crazy with the card and then ended up being so far in debt that they had to cut up all their cards. THAT's simply being irresponsible and not knowing how to manage money.

OTOH, some people use cards for 100% of their "necessities", pay every 30 days, and end up getting a hefty rebate every month. THAT's how to save money.

I’m not sure what you call a hefty rebate. Most cards give back 1to1-1/2% . That’s one cent for every dollar. I wouldn’t call that a hefty rebate, or saving money. My attitude is if you don’t spend it in the first place, you saved it. Also if you avoid impulse buying you will save even more. Many studies find people spending more money with credit cards, than having to pull cash out of your pocket, and watch the wad of cash dwindle.

 

[mirglip]

If credit card companies charge a 3 or 4% fee and then generously "give" back a 1 1/2 % rebate (to the few who aren't paying lots on interest) who is winning? The 3 or 4% fee is passed on to all consumers so you and I are paying for Jim's meager 1 1/2% rebate.
Bankers are the world's cleverest parasites.

 

[Yaworski]

OTOH, some people use cards for 100% of their "necessities", pay every 30 days, and end up getting a hefty rebate every month. THAT's how to save money.

I do that. Every two weeks, I pay off the card. I get 3% on most purchases. It's convenient.

 

[375hh1973]

I do that. Every two weeks, I pay off the card. I get 3% on most purchases. It's convenient.

Same here.

Use Delta Skymiles AMEX on everything.

Have never paid interest.

Was bummed I had to use cash the other day the deer processor only takes cash.

8th time in 2025.

 

[GypsmJim]

If credit card companies charge a 3 or 4% fee and then generously "give" back a 1 1/2 % rebate (to the few who aren't paying lots on interest) who is winning? The 3 or 4% fee is passed on to all consumers so you and I are paying for Jim's meager 1 1/2% rebate.
Bankers are the world's cleverest parasites.

I don't pay the fee because I pay my bills before 30 days. MY card gives me back 2%.

I charge gasoline, groceries, car expenses, auto insurance, homeowner's insurance, boat insurance, plus anything else I can fit on the card. If I stop at McDonalds to have a snack on the way to my cabin, even if its only $4.00 I charge it.

My card does the automatic cash back to the account and I get back $75 about every 6 weeks. I personally consider that to be a hefty rebate. If I pay cash every time I get nothing back.

If my insurance company starts charging me a fee to use the card, then I'll change my bill paying scheme. But in the meantime only a moron would not take advantage of the ability to save money on bills that need to be paid anyway.

Sure, the card makes me think I can be a frivolous spender, but that's not smart money management. I would love to buy that Single Action Army I have always wanted, but I'm smart enough to realize that it's not in my budget.

I DO realize that the banks are screwing some consumers by charging high interest rates. And also screwing businesses because they charge them for accepting cards. I have no control over that. I am only one person and if I start paying cash for everything it won't help anyone else, but it will cause MY expenses to increase.

 

[Cholo]

When I was still running my small business it wasn't unusual to put $20-30k per month on my CC. At 1% back it added up to decent $ in a year.

I've paid off my CC's each month for over 30 years.

 

[mirglip]

When I was still running my small business it wasn't unusual to put $20-30k per month on my CC. At 1% back it added up to decent $ in a year.

That's convenient. I paid for it.

 

[Cholo]

Thank you! (y)

 

[JackAsinus]

I do odd jobs often. They Venmo me.

Also, if our economy was based upon the gold system then it wouldn't be the juggernaut that it is, and most other economies would have surpassed us.

 

[mirglip]

if our economy was based upon the gold system then it wouldn't be the juggernaut that it is, and most other economies would have surpassed us.

Certainly an economy that issues currency as debt has it's advantages, but there is no reason whatsoever that bankers should be able to collect all that interest and probably the principal, too, when The Treasury could manage that as JFK suggested before his demise.
By allowing the Marxist bankers to enrich themselves this way, we have empowered and enriched our greatest enemies to gradually destroy us.

 

[DGW1949]

I know people that went crazy with the card and then ended up being so far in debt that they had to cut up all their cards. THAT's simply being irresponsible and not knowing how to manage money.

OTOH, some people use cards for 100% of their "necessities", pay every 30 days, and end up getting a hefty rebate every month. THAT's how to save money.

Those monthly "rebates" you speak of came out of the "bank fee" that is levied on every electronic/card transaction, which BTW, is recovered by the retailer by adding 5% to the price of goods and services....In other words that rebate you seem so thrilled with was your money to start with..and even at that, you don't get but a part of it back anyhow. The bank keeps the rest..LOL.

DGW

 

[Bear Paw Jack]

The single item pitched to Americans more than anything is debt, and they are there to help you get into it. The only group that wants to control you more than politicians is debtors. If you have a car payment and a credit card with debt, you are unlikely to ever get out of that debt.
Credit cards spend more money advertising that you should be in debt, than the NFL pays all their players combined.
Yet if you could get the amount of interest that they want to charge you, you would be wealthy before long.
If you could invest the amount of money you owe and get the interest you are paying, you would be wealthy before long. The goal is to earn interest and not pay it. It’s called compound interest.
I apologize for going on about this, but because of debt 2/3 of Americans are living paycheck to paycheck. When you retire and the income quits coming in, retirement will be brutal. I absolutely despise seeing folks go through this. Can you imagine what generation Z or what ever is next will go through?

 

[Yaworski]

Marxist bankers

Isn't that an oxymoron?

 

[mirglip]

Isn't that an oxymoron?

Fiat banking has always been a component of economic Marxism.

 

[Yaworski]

I apologize for going on about this, but because of debt 2/3 of Americans are living paycheck to paycheck.

Sounds like a personal problem.

I got myself into debt. I got myself out. No tears.

 

[Yaworski]

Fiat banking has always been a component of economic Marxism.

Really?

"Marxist theory views banking as a critical component of capitalism that facilitates the exploitation of the working class by the bourgeoisie "

Sounds like Marx didn't like commercial banks.

Anytime someone blather's about "fiat money" and now "fiat banking" I realize that they really have no clue what money is or how it works and I ignore them. Ta.

 

[mirglip]

You are confusing the marketing with the product. You have to translate the marketing stated intentions to a strategic context and it all makes perfect sense.

LEGAL MARXISM A gazillion laws on the books, intended to confuse and be enforced very selectively by the ruling elite.

CULTURAL MARXISM Erasing existing culture and replacing it with degeneracy like homosexuality, feminism, transgenderism, multiculturalism and race mixing.

ECONOMIC MARXISM Wealth redistribution from the productive middle classes to the poor and parasitic classes.

 

[Yaworski]

Blah, blah, blah, blah. Back and fill. Blah, blah, bah.

.

 

[Randyzzz]

On Musk’s vision of the future of society- I think he watched “WALL•E” a few times too many.

Great animated movie- but definitely not a pattern for the future of society…

 

[eveled]

Prostitutes now take credit cards.

As long as they declare the income it’s fine by me.

 

[Joe Reilly]

As long as they declare the income it’s fine by me.

I hope they give the card back.

 

[Dan in MI]

Do they swipe the card? :oops::ROFLMAO:

 

[Yaworski]

On Musk’s vision of the future of society- I think he watched “WALL•E” a few times too many.

On the matter of empathy, I agree with Elon. Empathy is why we pay welfare mamas to have extra kids. Empathy is why we give immigrants food stamps and welfare.

Society is full of empathy until you're a working man who loses his job and has to collect unemployment. Then they treat you like you're a con man trying to defraud the government.

 

[Joe Reilly]

Do they swipe the card? :oops::ROFLMAO:

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