CASH is King

[Value Collector]

in defense of physical cash though, we get to be more mindful and think twice before spending it, i've come to notice my money burns quickest when i spend from my saved card or digital wallet

Some people are like that, I think I am the opposite money in my accounts earning interest feels like real money that I want to keep there, but once I withdraw it and it’s just paper in my wallet, it’s a bit like monopoly money that I can just blow, it’s like it’s not part of my system anymore.

 

[rcw1]

Cash is King at the track. Cash is God when winning at the track ha ha ha ha haha

Have a very nice day, today.

Kind regards
rcw1

 

[Value Collector]

1.5% of a business's gross takings would still be more expensive in most cases for the labour required to deal with the cash. A small business owner worked it to be the labour cost of a full days pay for one of their employees. It doesn't take a day for a small business to balance a till and bank the money.

That’s only part of the cash costs though, there are many other costs associated with cash that have to either be covered directly or indirectly through bank fees such as operating ATM’s, so the business owner claiming cash is free, is a little dishonest, he just wants to use it because most of the costs are passed back to others.

Even the costs of replacing bank notes as they wear out, these costs are paid by everyone in some way.

so the business owner won’t see all the costs of his choice to deal in cash in one identifiable fee at the end of the month, but the cash system does has high costs that are passed along to us all in varying ways.

————————-

take for instance replacing notes, the average life of a $5 note is 3.5 years, it costs about 30cents to print a new one, but also lots of labour to collect them, transport them back to destroy and then distribute new ones. Etc

The more we pull the notes out of the bank vaults and use them the more they wear out, and the more it cost in armed guards to service ATMs etc, and collect money from businesses.

 

[LAnight]

Some people are like that, I think I am the opposite money in my accounts earning interest feels like real money that I want to keep there, but once I withdraw it and it’s just paper in my wallet, it’s a bit like monopoly money that I can just blow, it’s like it’s not part of my system anymore.

That's an interesting way to look at it to be honest, regardless of how you save your money it better be paying you interest, first ever account i had with my bank was a current account and with that the money just sits there, pretty much a mistake obv

 

[JohnDe]

China uses an AI system with CCTV across all large cities and towns, to monitor all citizens and calculate a social credit score. I have read that they have access to bank accounts, monitoring spending, and deducting fines as authorities see fit.

China Social Credit System Explained - How It Works [2024]

Learn what the China social credit system, how it impacts individuals & companies in China and how it is operating in 2024.

joinhorizons.com

 

[The Triangle]

View attachment 176702

I hereby resurrect this thread.

Cash is King.

A cashless society is a restricted and constrained society and is under the control of governments and financial institutions and taxation bodies.

Further, to scam my cash, you have to get past me and 2 baseball bats.
Batter up anyone?

I paid for a Pizza yesterday with a Visa. There was a surcharge on that payment of a few % with cost me about 20 cents. The server said I could pay cash - but I was too lazy and already had the visa in my hand. People have realized how many fools like me that are out there who will pay 20 cents because they're too lazy to reach into their pocket. There's an epidemic in Perth of Coffee shops in the past two years charging credit card fees. Something I had never seen before.

People are in this imaginary dream state where somehow electronic money is better (they seem to forget about all the half dozen times a year Telstra goes down and you can't buy lettuce at Coles for several hours). As we know from China - it's not better. It's just another way to control the population, punish the population, threaten the population, coerce the population, and of course ultimately sell the data on your purchases to google to sell to advertisers.

Resources have to be spent to use money - either minting coins, or minting computer chips. There is no imaginable way that we can use electronic money without fees and surcharges. Data costs money, computer power costs money, and the banks, which process everything charge fees. We are moving to a model where the government & banks used to cover the 'fees' associated with using cash to a model where to customers are now directly responsible for the 'fees' to use plastic. Not a good sign for society when there is a charge to use currency.

China uses an AI system with CCTV across all large cities and towns, to monitor all citizens and calculate a social credit score. I have read that they have access to bank accounts, monitoring spending, and deducting fines as authorities see fit.

View attachment 176739

China Social Credit System Explained - How It Works [2024]

Learn what the China social credit system, how it impacts individuals & companies in China and how it is operating in 2024.

joinhorizons.com

Sorry mate, I think you mean Canada?

 

[JohnDe]

China uses an AI system with CCTV across all large cities and towns, to monitor all citizens and calculate a social credit score. I have read that they have access to bank accounts, monitoring spending, and deducting fines as authorities see fit.

View attachment 176739

China Social Credit System Explained - How It Works [2024]

Learn what the China social credit system, how it impacts individuals & companies in China and how it is operating in 2024.

joinhorizons.com

Cash can’t be digitally taken from your wallet, when authorities go bad they can’t see someone’s spending preferences when cash is used.

There is a reason that some governments and banks want a cashless system, sadly it will happen because the majority of people in society are weak minded and simple.

 

[greggles]

Cash can’t be digitally taken from your wallet, when authorities go bad they can’t see someone’s spending preferences when cash is used.

Neither can gold and silver which exist outside of the mainstream banking and financial system. The trust people place in the government and large corporations is unbelievable to me. I still cannot get images out of my head of grandmothers being thrown to the ground, handcuffed and thrown into the back of a paddy wagon because they dared go to a cafe without their "papers" on them. This was only a few years ago in Australia.

The government can turn bad overnight, even in Australia, and there is absolutely nothing we can do about it. Putting all your money in a place where the government can easily get their hands on it is the height of foolishness.

 

[divs4ever]

China uses an AI system with CCTV across all large cities and towns, to monitor all citizens and calculate a social credit score. I have read that they have access to bank accounts, monitoring spending, and deducting fines as authorities see fit.

View attachment 176739

China Social Credit System Explained - How It Works [2024]

Learn what the China social credit system, how it impacts individuals & companies in China and how it is operating in 2024.

joinhorizons.com

and the West are so jealous that they feel compelled to that and more much better

 

[frugal.rock]

I don't know where to look first.

Let the show begin.

Not allowed to shoot women out of cannons anymore (and rightly so, except for that one that ....), so don't look there.

Bull doing a front hoof stand, animal cruelty, can't look there.

Ronald McDonald lookalike wielding swords in terrorist fashion, look there but run away fast if he moves,

Seals balancing balls, more animal cruelty, don't look there,

Ringleader about to get his testicals gored by a bull, oooh, don't look there with both eyes , squint with one eye in between fingers covering eyes,

Gal dancing on top of the bull, animal cruelty AND she's not got a harness on, a serious health and safety risk, don't look there.

I guess I'll just watch where the little hand bombs go, being thrown from the hand appearing from the marquee top.

(nothing to see here except poor taste and an attempt at humour)

 

[Value Collector]

I paid for a Pizza yesterday with a Visa. There was a surcharge on that payment of a few % with cost me about 20 cents. The server said I could pay cash - but I was too lazy and already had the visa in my hand. People have realized how many fools like me that are out there who will pay 20 cents because they're too lazy to reach into their pocket. There's an epidemic in Perth of Coffee shops in the past two years charging credit card fees. Something I had never seen before.

People are in this imaginary dream state where somehow electronic money is better (they seem to forget about all the half dozen times a year Telstra goes down and you can't buy lettuce at Coles for several hours). As we know from China - it's not better. It's just another way to control the population, punish the population, threaten the population, coerce the population, and of course ultimately sell the data on your purchases to google to sell to advertisers.

Resources have to be spent to use money - either minting coins, or minting computer chips. There is no imaginable way that we can use electronic money without fees and surcharges. Data costs money, computer power costs money, and the banks, which process everything charge fees. We are moving to a model where the government & banks used to cover the 'fees' associated with using cash to a model where to customers are now directly responsible for the 'fees' to use plastic. Not a good sign for society when there is a charge to use currency.


Sorry mate, I think you mean Canada?

Fools? It’s smart to use you Visa if the cost is only 1%.

You will probably earn points worth over 1%, plus have your cash earning interest for 40 days extra, and save your self a trip to the ATM.

you could easily say that using cash “for free” costs you about 3% in lost returns.

 

[frugal.rock]

Go Bob!

Major fight against cashless revolution threatens Aussies with $25,000 fine

A bill could soon force businesses to accept and carry physical money to push back against the cashless revolution.

au.finance.yahoo.com