Coin shortage

[d.kaufman]

Have always paid for everything I'm buying in person with cash. Gas, groceries, vehicles, lawn and garden equipment, etc.
Always save my change and It goes strictly to my gun/ammo/parts fund. Not hard to save $3-500 per year without even noticing

 

[marvin02]

There are no "old" people, only those who have accumulated life experience. Anyone calling someone "old" obviously lacks in life experience.

I once heard a gentleman called old reply, "You hope you live long enough to be called old."

Hope everyone is having a great 4th of July.

 

[DoggyDaddy]

There are no "old" people, only those who have accumulated life experience. Anyone calling someone "old" obviously lacks in life experience.

I once heard a gentleman called old reply, "You hope you live long enough to be called old."

Hope everyone is having a great 4th of July.

I prefer "vintage".

 

[KittySlayer]

Must be old people who use cash to actually have change jar!.....j/k

Hey there Whippersnapper, us old people will be the ones laughing when that black magic you call WiFi and cellular and other magic words Shut Down and you are hungry because you can’t buy beer and Doritos.

 

[maxwelhse]

Hey there Whippersnapper, us old people will be the ones laughing when that black magic you call WiFi and cellular and other magic words Shut Down and you are hungry because you can’t buy beer and Doritos.

Pretty sure if that happens your cash will be useless too. Precious metals, sir. Gold, silver, lead, etc.

Frankly, in that economy, beer and Doritos would probably be good investments.

 

[Route 45]

I'm saying credit scores don't do anything to demonstrate your fiscal responsibility, they only demonstrate that you know how to borrow money. I would argue someone who lives below their means, saves their money and pays cash for things only when they can afford them is much more fiscally responsible than someone whose entire paycheck goes out the door to creditors every month. (Not saying that's you.)

Credit scores allow banks to lend to people without having to think about whether that person can actually afford the loan. It doesn't include factors like annual income, monthly expenses, existing assets, or anything relevant to a person's actual financial situation. It's a number based on how a person handles debt, nothing else.

Manual underwriting is a process a lender uses to examine one's actual financial situation. They look at things like bank accounts, owned assets, income vs expenses. So yes, it's possible to get a mortgage without using a credit score, or without having one at all. Many people don't realize this. They've been told all their lives that they need to borrow money to build a credit score so they can borrow money. It's a dog chasing it's tail and it gets a lot of people in trouble. (Again, not saying that's you.)

I am at a point in my life that I will never borrow money for anything other than a home. I'm working on saving a down payment currently and will use manual underwriting for the mortgage. Once that home is paid for I will never borrow money again. So to me, a credit score is irrelevant.

I don't say all this to be critical of someone who does use credit. I'm just putting it out there for anyone who isn't aware there is an alternative to living life with debt.

Some of this is not entirely true. Banks and credit unions absolutely DO consider your income as one metric in your ability to pay a loan back, along with a credit score. Ain't no bank, credit union or mortgage company loaning someone with an 800 credit score and a $30,000 a year income a mortgage loan for half a million bucks.

There are also several factors that determine what you credit score is. One of the big ones is the amount of available credit that you utilize. If you only have 15% of your available credit as outstanding debt, your score will be markedly higher than if your credit lines are at or near maximum. Hence, a credit score can indicate fiscal responsibility in part.

I will never NOT borrow other people's money, as long as the interest is low enough for my tastes. Lots of "same as cash" and extremely low rate car loan deals out there. There is nothing wrong with the responsible use of debt to enjoy some of the finer things in life.

 

[jsx1043]

From a friend on the Book of Face:

”HERES WHAT ACTUALLY MEANS:

A cashless society means no cash. Zero.
It doesn’t mean mostly cashless and you can still use a ‘wee bit of cash here & there’. Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society aren’t fully aware of what they are asking for.


➪If you are struggling with your mortgage on a particular month, you can’t do an odd job to get you through.


➪Your child can’t go & help the local farmer to earn a bit of summer cash.


➪No more cash slipped into the hands of a child as a good luck charm or from their grandparent when going on holidays.


➪No more money in birthday cards.


➪No more piggy banks for your child to collect pocket money & to learn about the value of earning.


➪No more cash for a rainy day fund or for that something special you have been putting $a week away for.


➪No more nixers on the side because your wages barely cover the bills or put food on the table.


➪No more charity collections.


➪No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.


➪No more cash gifts from relatives or loved ones.


What a cashless society does guarantee:


➪Banks have full control of every single penny you own.


➪Every transaction you make is recorded.


➪All your movements & actions are traceable.


➪Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.


➪You will have no choice but to declare & be taxed on every pound in your possession.


➪The government WILL decide what you can & cannot purchase.


➪If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.


Please open your eyes. Please stop believing everything you are being told.
Almost every single topic in today’s world is tainted with corruption & hidden agendas.


Please stop telling me & others like me that we are what’s wrong with the world when you hail the most corrupt members of society as your heroes. Politics & greed is what is wrong with the world; not those who are trying to alert you to the reality in which you are blindly floating along whilst being immobilised by irrational fear. Fear created to keep you doing & believing in exactly what you are complacently doing. “

 

[maxwelhse]

From a friend on the Book of Face...

I'm not really a "no cash" person, but to be the Devil's advocate here...

Assuming you're interested in being a good citizen and paying all of your taxes, all of the things in that list can be accomplished with Paypal, Cashapp, etc... You can handout physical QR codes for deposit if you want, for example.

➪All your movements & actions are traceable.

➪Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.

➪The government WILL decide what you can & cannot purchase.

These are the big ones for me. The best way around that, even in a cash society, is with whatever 3rd party payment you want; metals, bitcoin, Doritos, whatever. Relying on cash to keep you out of those problems isn't much of a strategy if our backs really end up against the wall, IMHO.

 

[Dentoro]

Because they want to be able tax every single transaction you make from here to eternity. PERIOD . You are not allowed to use your hard earned cash without letting them know first!

 

[JettaKnight]

Because they want to be able tax every single transaction you make from here to eternity. PERIOD . You are not allowed to use your hard earned cash without letting them know first!

There's a lot of folks here that would prefer that (like VAT) instead of property tax or income tax.

 

[JettaKnight]

From a friend on the Book of Face:

...


Please open your eyes. Please stop believing everything you are being told.
Almost every single topic in today’s world is tainted with corruption & hidden agendas.


Please stop telling me & others like me that we are what’s wrong with the world when you hail the most corrupt members of society as your heroes. Politics & greed is what is wrong with the world; not those who are trying to alert you to the reality in which you are blindly floating along whilst being immobilised by irrational fear. Fear created to keep you doing & believing in exactly what you are complacently doing. “

I'll start using that advice with that.


Any time someone says "open your eyes" or some other saying, it just means I need to apply more scrutiny to what their saying.


As long as there's a thriving illegal drug trade, we won't be going cashless.

 

[maxwelhse]

As long as there's a thriving illegal drug trade, we won't be going cashless.

Bitcoin has frequently been criticized as the drug dealer's currency of choice, so...?

Maybe we need the strippers to save us?

 

[marvin02]

There's a lot of folks here that would prefer that (like VAT) instead of property tax or income tax.

Perhaps prefer an alternative tax, but surely not prefer the data trail?

. . .


As long as there's a thriving illegal drug trade, we won't be going cashless.

I'm sure shutting down illegal transactions of all kinds will be among the reasons given for the "need" to eliminate cash.

 

[Dentoro]

There's a lot of folks here that would prefer that (like VAT) instead of property tax or income tax.

If you think they would repeal a single tax you are naïve at best. Any vat tax would be on top existing taxes. I’m talking your nephew mowing grass and having to pay tax on that. Me any you decide on price for a rifle, paying tax on that transaction. I’ll give you $400 for those tires, but now we have 20% vat transaction on all our personal business. They will tax every transaction be rest assured!

 

[JettaKnight]

If you think they would repeal a single tax you are naïve at best. Any vat tax would be on top existing taxes. I’m talking your nephew mowing grass and having to pay tax on that. Me any you decide on price for a rifle, paying tax on that transaction. I’ll give you $400 for those tires, but now we have 20% vat transaction on all our personal business. They will tax every transaction be rest assured!

You're telling a guy that does 50+ 1040's a year how personal income tax works?

 

[1775usmarine]

You're telling a guy that does 50+ 1040's a year how personal income tax works?

Yes because I slept at a Holiday Inn last night.

 

[Phase2]

[h=1]Kroger stores to stop giving coins as change[/h]
Saw this "in action" yesterday. Ladies in front of me paying cash. They "round up" the total to the nearest whole dollar and then put that rounded amount on your Kroger card and give it to you as a credit the next time you shop.

https://www.wthr.com/article/money/...ange/531-3dc1f55d-3bec-4dff-92be-596307ed6455

DD just posted this in another thread, but I thought it would be useful here. I actually like the idea. It allows Kroger to adapt to the coin shortage and still allows you to pay in cash if you want. It only works if you use a Kroger card, so if you have one you go there periodically and it really doesn't hurt at all.

 

[JettaKnight]

DD just posted this in another thread, but I thought it would be useful here. I actually like the idea. It allows Kroger to adapt to the coin shortage and still allows you to pay in cash if you want. It only works if you use a Kroger card, so if you have one you go there periodically and it really doesn't hurt at all.

I'd rather donate the change to charity. One less thing to keep track of.

 

[Phase2]

Seems like a good, practical policy:

 

[CPT Nervous]

I don't understand how the Mint being shut down would cause a coin shortage. There are A LOT of coins already in circulation. They last a long time. I don't believe it.