Cash only and bank failures possible?

[G1911]

Originally Posted by homerunhitter

thanks guys, I guess I cant believe everything that I read on the internet nowadays!

It's statements like this that make this account difficult to take seriously lol

[Cliff Bowman]

Well, I read on the Internet that I will be underwater in ten years unless I repent my beliefs, I am treating that as the gospel truth.

[ALR-bishop]

Originally Posted by Cliff Bowman

Well, I read on the Internet that I will be underwater in ten years unless I repent my beliefs, I am treating that as the gospel truth.

It is error and variation card investments that are going to put us under water Cliff

[Cliff Bowman]

Originally Posted by ALR-bishop

It is error and variation card investments that are going to put us under water Cliff

Yeah, that’s what I meant, in ten years I won’t be able to give away 63 Topps missing borders, 74 Topps yellow ink bombs, or 76 Topps blue dots error cards .

[irv]

Originally Posted by Cliff Bowman

Well, I read on the Internet that I will be underwater in ten years unless I repent my beliefs, I am treating that as the gospel truth.

Is that a revision, Cliff, or are you just repeating the one you read over 20 yrs ago?

[Cliff Bowman]

Originally Posted by irv

Is that a revision, Cliff, or are you just repeating the one you read over 20 yrs ago?

I’m not saying another word out of abject fear of conjuring up you know who .

[irv]

Originally Posted by Cliff Bowman

I’m not saying another word out of abject fear of conjuring up you know who .

LOL. Don't blame you.

Cash is king and only for the Eastern North Carolina Mom & Pop's Barbecue, no credit cards or checks

[chalupacollects]

Well, it is true that if we get hit with an EMP weapon (electro magnetic pulse) anything with a computer or a computer chip will get fried. Cars, electrical grids, water supplies, cash registers, cell phones, gas pumps etc.

It is estimated that if an EMP is detonated by ballistic missile 200 miles above the USA or yet by an even better delivery system, such as a balloon - (sound familiar?) that 90% of our population would be dead within a year.

The good news is that old cars and aircraft would still be able to run until they run out of gas and maybe coal powered trains which would be tough to find.

On that note have a nice day!

[CW]

Originally Posted by irv

Is that a revision, Cliff, or are you just repeating the one you read over 20 yrs ago?

I don't really want to get into a debate on this, but the first part of that meme, ie. "NASA now admits..." does not correlate with what is currently on the NASA.gov website.

Statistics can also be twisted to fit a narrative, which is maybe what the person who made that meme did. I really don't know, because they didn't state their source, but the first statement in that meme appears to be BS, so how can you trust the rest of it?

Here is the direct link, which may be difficult to explain away:

https://climate.nasa.gov/vital-signs/arctic-sea-ice/

The meme in question

[irv]

Originally Posted by CW

I don't really want to get into a debate on this...

Pulls up a 2 month old post then continues on and on with a bunch of other global warming blah blah blah and says "he doesn't really want to get into a debate about it". Hmm.

I'll tell you what, CW, as I don't want to ruin your day nor drag you into a debate you don't want, I'll just leave it by saying you go right ahead and continue to trust those scientists of your choosing and I'll continue to choose and trust those that have been silenced, shunned and shamed instead like I did with those medical experts regarding covid and the vaccines.

However, if you ever figure out what the ideal temp is supposed to be or when the 8 yrs is suppose to start before we're out of time to safe the planet, I'll be all ears.

[Cliff Bowman]

Originally Posted by irv

Pulls up a 2 month old post then continues on and on with a bunch of other global warming blah blah blah and says "he doesn't really want to get into a debate about it". Hmm.

I'll tell you what, CW, as I don't want to ruin your day nor drag you into a debate you don't want, I'll just leave it by saying you go right ahead and continue to trust those scientists of your choosing and I'll continue to choose and trust those that have been silenced, shunned and shamed instead like I did with those medical experts regarding covid and the vaccines.

However, if you ever figure out what the ideal temp is supposed to be or when the 8 yrs is suppose to start before we're out of time to safe the planet, I'll be all ears.

In 75 years you and I will have to eat crow and admit we were wrong and they were right, the only problem is I will be 131 years old and I imagine you won’t be too far behind. Maybe we can make archival mea culpa videos that will pop up in 75 years.

[irv]

Originally Posted by Cliff Bowman

In 75 years you and I will have to eat crow and admit we were wrong and they were right, the only problem is I will be 131 years old and I imagine you won’t be too far behind. Maybe we can make archival mea culpa videos that will pop up in 75 years.

I guess it will never cease to amaze me, Cliff, what some people will believe just because it comes from their govt's mouth and their funded media propaganda sites.

First it was "we only have 10 yrs to save the planet as all the ice, snow and cold weather will be a thing of the past. NY, Florida and other cities/states/countries will be underwater in 10 years (said over 30 yrs ago) but since none of that happened, and actually the opposite did, they now say "due to global warming" we are seeing an increase in ice, snow and cold and the sheep lap that right up just like they did with the original narrative. But trust the science!!!!

https://twitter.com/wideawake_media/...NEv9QA26s%3D19

[homerunhitter]

Originally Posted by G1911

It's statements like this that make this account difficult to take seriously lol

you funny guy! I like!

[steve B]

I don't see a major problem unless there's a prolonged outage nationwide. All the critical systems have power backups. So while the ATM or point of sale terminal might be down for lack of power - and in some case the stores have backup power- there won't be much disruption. If it's 100% of the country and lasts a week or more, maybe? But the account info is probably also on servers that aren't US based.

Consider how long parts of Texas were without power, and unless you dealt directly in those areas or lived there, there wasn't much impact at all.


I do see some things shifting gradually to cash.
After years of me resisting using my debit card for anything, (very early on there were fees to use it.) I finally stopped insisting on getting cash. Like going to the bank and writing out a check to cash and cashing it like the olden times ....

As soon as I do though one of my favorite sub shops went back to cash only with a fee charging ATM inside the place.
And during the pandemic, another favorite restaurant went cash only for eat in but still takes cards for pickup. Both said it was because of the processing fees.

[homerunhitter]

Thank you Steve, I appreciate your thoughts on this. I also noticed a few places lately having signs saying "cash only" (but they also have an ATM inside to get cash) and I even saw a restaurant that said on the menu that if you pay cash, the price is cheaper and at my local gas station if you pay cash the price is cheaper.

[bnorth]

Originally Posted by homerunhitter

Thank you Steve, I appreciate your thoughts on this. I also noticed a few places lately having signs saying "cash only" (but they also have an ATM inside to get cash) and I even saw a restaurant that said on the menu that if you pay cash, the price is cheaper and at my local gas station if you pay cash the price is cheaper.

Could be different in different locations. In the location I live in the part I made bold has to be worded as using cash gives you a discount from the normal price. It is illegal to charge more than the normal price for using a card.

Several places I know have a minimum amount for using a card. It is also why most things cheap are now expensive. Too many people buying a $.75 candy bar or soda and nothing else using a card. The store would actually lose money on those transactions so now $.75 items are $2.

[packs]

Stores won’t have money either if there was as severe a banking collapse as you’re imagining and I would think cash at that point would not buy you much. Commodities would be king not useless money.

[homerunhitter]

Thanks guys, I appreciate your thoughts on this. I know a lot of countries are trying to figure out how to disrupt our lifes in the next couple to few years if things don’t change for the better so I’m trying to get ahead of the game and prepare as best I can.

[steve B]

Originally Posted by bnorth

Could be different in different locations. In the location I live in the part I made bold has to be worded as using cash gives you a discount from the normal price. It is illegal to charge more than the normal price for using a card.

Several places I know have a minimum amount for using a card. It is also why most things cheap are now expensive. Too many people buying a $.75 candy bar or soda and nothing else using a card. The store would actually lose money on those transactions so now $.75 items are $2.

My area has had the "discount for cash" at gas stations for decades. Same thing about the wording, which has always struck me as a big loophole, since there isn't any real difference between a discount for cash and charging more to use a card besides how the signs are worded.

I did once see a place with a discount for cash, with a second sign saying debit cards were not cash, and a third sign saying checks were not cash either.
I wanted to know the story, but it seemed a bit of a sore point, so I didn't ask.

[MooseDog]

Like any other cash-involved business, a huge amount of restaurant cash sales go unreported for tax purposes.

Processing fees for a merchant-based credit card system shouldn't be more than 3% plus maybe a transaction fee of 20-50 cents. That's about a $1-1.50 on a $30 order. If they are paying more than that they are getting robbed by their processor.

Originally Posted by steve B

And during the pandemic, another favorite restaurant went cash only for eat in but still takes cards for pickup. Both said it was because of the processing fees.

[steve B]

Originally Posted by MooseDog

Like any other cash-involved business, a huge amount of restaurant cash sales go unreported for tax purposes.

Processing fees for a merchant-based credit card system shouldn't be more than 3% plus maybe a transaction fee of 20-50 cents. That's about a $1-1.50 on a $30 order. If they are paying more than that they are getting robbed by their processor.

A few places around here went to cash only. They have an ATM inside, which charges a fee, so I figure they're getting a bit of savings, and a bit of the fee.

Eating out at the lower end has gotten expensive.

I figure credit cards are an expense any retail sort of place just has to deal with. The Bike shop was cash only until I had the kid working weekends make notes on what went unbought because we didn't take cards. First day was $400, and we were a tiny place.
The owner got a credit card deal a couple weeks later.
We had a strange setup, I think we may have been the last lace with the old physical forms and slider.
At the time it was weird, we were getting a worse deal than I had just by having Paypal, which I thught was high.
And a monthly fee if we took no card payments that month. Once we got the modern card reader part of my job was to go in once a month during the winter and charge a soda to my card. Cost us more than the Coke, but saved the $35 fee....
Yeah, it was a weird place.