Author Topic: war on cash -- bank deposits  (Read 1817 times)

Offline Smurf Hunter

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Re: war on cash -- bank deposits
« Reply #30 on: April 24, 2019, 09:26:43 AM »
$100 bills at a farmers market? What kind of fancy and expensive produce are you selling?

Really the niche use is for private party transactions for higher value items.  Firearms, used cars, music equipment, power tools, etc.

Offline mountainmoma

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Re: war on cash -- bank deposits
« Reply #31 on: April 24, 2019, 11:32:34 AM »
$100 bills at a farmers market? What kind of fancy and expensive produce are you selling?

Really the niche use is for private party transactions for higher value items.  Firearms, used cars, music equipment, power tools, etc.

People get paid in 100's and take 100's out of the bank, they take up less room than 20's in a wallet.  So then they do get spent. 

-- Oh -- Washington State, right Smurf ? You guys do not have income tax.  So maybe people dont work for cash as much up your way ? Or, it is a different social circles that some of us run in, maybe there are more self employed people I see around.

We have high state income tax and high sales tax.  Sales tax is almost 10%, and they collect that each time a used car is resold ! Not enough that it was taxed the first time.  I imagine that cash sales might under-report price to the revenuers when it goes to get registered..... I have no data on that of course

It is easy at the farmers market to take a $100 for $18 of produce as it is easy to give back 20's as change.  And, that seems to be the same at every store, never seen a problem with 100's.

But also, yes, organic produce at the farmers market is not cheap, I have not checked recently but those berries would certainly add up, not to mention the organic heirloom tomatoes, tomatoes are heavy.  We dont make much on parsley
« Last Edit: April 24, 2019, 11:38:38 AM by mountainmoma »

Offline mountainmoma

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Re: war on cash -- bank deposits
« Reply #32 on: April 24, 2019, 11:41:49 AM »
in a word: NO!

I'm not convinced this actually even helps. It's like the TSA frisking 85 year olds in wheelchairs. Am I any safer because they followed their randomly selected procedure of frisking the ??th person? Absolutely not.

Exactly, this is why I started the thread ! This type of control is anti-freedom and has nothing to do with stopping drug  money laundering. 


I recommend moving your money.  Maybe even the non-profit could move to a local credit union instead of Wells Fargo !

Offline Smurf Hunter

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Re: war on cash -- bank deposits
« Reply #33 on: April 24, 2019, 12:22:27 PM »
People get paid in 100's and take 100's out of the bank, they take up less room than 20's in a wallet.  So then they do get spent. 

-- Oh -- Washington State, right Smurf ? You guys do not have income tax.  So maybe people dont work for cash as much up your way ? Or, it is a different social circles that some of us run in, maybe there are more self employed people I see around.

umm, we still have the IRS. 

Heck, most food trucks today are cashless, using Square Readers plugged into iPads.

At the risk of sounding like a Big Brother Statist, cash is not convenient overall.
Let's say you get a $2500 paycheck (net pay).  You could get 25x $100 bills, but if you owe $1500 for rent, $300 for a car payment, etc. most of your monthly expenses are likely NOT payable in cash.  So you are now forced to travel at an ATM to deposit at least some of that currency so that you can pay recurring household bills.

I'm not opposed if you want to pay cash for groceries at Wal-Mart, but paying for housing, utilities or vehicle is not anonymous anyhow. 

Offline fritz_monroe

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Re: war on cash -- bank deposits
« Reply #34 on: April 24, 2019, 01:44:41 PM »
in a word: NO!

I'm not convinced this actually even helps. It's like the TSA frisking 85 year olds in wheelchairs. Am I any safer because they followed their randomly selected procedure of frisking the ??th person? Absolutely not.
The example I use it I have allergies.  I can no longer go to the drug store to get antihistamines for it.  I have to go to the store, get the card off the shelf and go to the pharmacist to get the drug and pay for it.  Of course I can't take the antihistamines to the front check out I have to pay for it at the pharmacist.

Why?  because it can be used to make meth.  I GUARANTEE that someone making up meth is not buying a single box of antihistamines.  I doubt they are buying them at all.  This does NOTHING but punish the law abiding people.

At the risk of sounding like a Big Brother Statist, cash is not convenient overall.

<snip>

I'm not opposed if you want to pay cash for groceries at Wal-Mart, but paying for housing, utilities or vehicle is not anonymous anyhow. 
I agree that cash isn't always convenient.  But that should be my decision.  I will never pay my mortgage with cash, heck, the bank that holds it isn't even on the same coast. 

Offline mountainmoma

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Re: war on cash -- bank deposits
« Reply #35 on: May 02, 2019, 12:16:19 AM »
I had lunch in Silicon Valley the other day, weekday and the server, who may be an owner as I think she has been the same lady there for 20 years, anyway she asked me if I had cash.  And I did of course, this was a sit down, albeit small, place.  She also had no trouble making change.  They get charged quite a bit for each transaction, it adds up, probably especially percentage wise for my bill that is one persons lunch.  SO, we do a favor to pay with cash, it saves the owners money, and a small mom and pop place like that, she well knows it.  VISA makes just a TON of money on transaction fees that business must pay, which means we pay, of course.