I think we're close to the point where
almost no one carries cash anymore...
I have a $50.00 bill in my pocket. I go to a restaurant and pay for dinner with it. The restaurant owner then uses the bill to pay for the laundry. The laundry owner then uses the bill to pay the barber. The barber will then use the bill for shopping. After an unlimited number of payments, it will still remain a $50 - which has fulfilled its purpose to everyone who used it for payment.
But if I come to a restaurant and pay with a credit card, bank fees for my payment transaction charged to the seller are 3%, so around $1.50 and so will the fee $1.50 for each further payment transaction or owner, the laundry or payments of the owner of the laundry shop, or payments of the barber and down hill from there. Therefore, after 30 transactions, the initial $50 only $5.00 will remain and the remaining $45 became the property of the bank thanks to all digital transactions and fees.
Small businesses need your help and this is one way to help ourselves too. When this is put into perspective, imagine what each retailer is paying on a monthly basis in fees at 3% per transaction through their POS machine.
If they have, for example, $50,000 in sales & 90% are by Card, they are paying $1350 in fees in ONE Month. Over $16,000 in a year! That comes straight out of their pocket day in and day out. You can't blame them for added a surcharge for YOUR convenience...
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This is a fascinating article about living here.
Bookmark it and make time to read it.
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What's that saying about the goose and the gander?
Something about payback being a bitch I think...
deals with this shit. Read about it from their point of view here:
https://www.msnbc.com/top-stories/latest/alabama-ballot
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They don't make movies like they usta...
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The Biden administration is canceling student loans for another 206,000 borrowers as part of a new repayment plan that offers a faster route to forgiveness.T
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Someone you know has a birthday
or anniversary coming up.
She's probably love to have this.
Click on the picture for more information on this beautiful bracelet.
It's only $ 55.00 and that includes free shipping!
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Take every single one of these motherfuckers up in a helicopter and dump their
asses in to the Rio Grande. Why does anyone have to put up with shit like this?
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I always pay cash except a credit card for gas and mail order stuff off the internet. Checks for everything else.
ReplyDeleteWhen they get digital currency to replace paper money the bankers and the government will be smiling all the time, the banks for the profit and the gov for the added controls of the population..
ReplyDeleteRegarding your thought process on money....Now try fractional banking and home and personal loans.
ReplyDeletei'm debt free and i always pay in cash. if you don't have cash in your pocket, then your a BUM.
ReplyDeletesometimes i'll wake up on a Sunday morning and walk around the house for several hours naked just to see what a broke SOB feels like.
nothing was ever given to me, i worked hard for it and saved it.-- it ain't what you earn, its what you keep.
There are far more places reverting to cash-only because of stolen credit cards being used and fake checks being written even as the push to go cashless is being introduced.
ReplyDeleteCalifornia, of all places, has tons of places where it's cash only because the businesses are tired of being ripped off by credit scammers. This way, with cash and cash only, the sale is confirmed on the spot. Oh, and fuck Joe Biden.
irontomflint