Home Forums Hunting & Shooting Hunter's Campfire The War on Cash

It seems pretty evident to me that there’s a war on cash. Banks file a report w the govt for cash transactions over $10,000.00

CC & debit card use has skyrocketed in my lifetime. People stopped by LEO w substantial amounts of cash have it seized from them on suspicion, not proof mind you, just suspicion of trading in drugs & then you get to fight a lengthy & expensive court battle to get it back.

We no longer have high denomination bills, stuck w a measly $100 bill, and we all know leaving the house you’re almost guaranteed to spend a hundy on just piddling stuff at best.

Interest rates are dirt cheap, maybe good for a homebuyer or those financing a new or used car, but terrible for savers.

When I bought our first house our interest rate was 10.75%. Yikes ! But by the same token CD’s would get you 9%, a person who had saved a million dollars could live well even back then, just on the interest alone.

But now folks are almost forced to invest in the stock market to get their money to work for them.

The big banks can borrow money from the fed dirt cheap, roll it into the market & make out pretty well.

But what happens if or when we start to experience the results of the Covid shutdown ?

Many mom & pops out of biz, many, many folks unemployed.

Tax revenues slashed, consumer spending plummets.

Eventually sales of the big corps are effected & the stock market goes down.

How does the fed stimulate the economy then ?

Negative interest rates ? Perhaps, the big banks could get money w no interest & so could the fed govt.

But for savers ? Sorry the bank now has to charge you for storing your money.

There’d apt to be a run on banks of folks trying to withdraw savings, often in cash. I believe any honest banker would tell you there’s not enough cash available to withstand such.

But if cash was outlawed you’d be screwed, other than to electronically transfer to something, most likely the stock market which would buoy the market. Win/win for the big banking houses, the fed & of course the govt. as these days the health of the market seems to be increasingly how each administration is judged on the economy.

Plus if cash were outlawed it gives the govt what it craves most, information.

There’d be no more buying a gun from a neighbor, unless you bartered, w out the govt knowing. They’d know if you bought a holster designed for concealed carry.


They’d know how much ammo you consume. They could tax each & every transaction in order to make up some of the shortfall of slashed tax revenue.

It seems to me the major impediment towards below 0 interest rates is cash.

Many guys on here more financially savvy than myself.

I’d like to hear your thoughts on a cashless society.

I like cash

I checked some CD rates a couple weeks ago. They were running in the .4% range. Savings accounts are paying more than CD's.

Silver for the little guy/ gold for the big guy! GW

What are the illegals going to do, a lot of them get paid in cash? Then there is the drug trade....

I had more money when I bought everything wit cash I can tell u that ! Most places in town have that ..we don't take 100$ bills sticker....why..it ain't cause of fake bills , at work we got special pens a scanners to weed'm out .it starts out slow then its gone imo..

Try to withdraw a significant amount.. you'll find out your bank likes it better.

Why would you keep large sums of money in the bank to begin with?

Liberals want a bigger and more controlling government.
Government is God to them.

They don't want you buying anything without permission.
They don't want you driving anywhere without permission.
They don't want you saying anything without permission.
They don't want you owning anything without permission.
They don't want you cutting down your trees without permission.
They don't want you spanking your kids.
They don't want you listening to any news source without permission.
They don't want you burning anything without permission.
They don't want you thinking anything without permission.
They don't want you taking off your mask without permission.

Its almost like there needs to be a decentralized currency the government can't control, allowing people to do transactions as they see fit...

The "next" virus will require masks AND gloves.

Hand contact with cash will be a "death sentence" you will be told.

Next virus?

Duhh

Cash is a concept mostly. Do away with change and paper, people will will leave the gubmint in the dark with bartering.

Wow! I remember buying CDs back in the late 1980s with double digit interest (high teens). They'd mature, and I'd buy more. Savers really racked up interest back then.

Like we had till 1913.

The no gloves is here now. I took a senior to the University Hospital for a COVID Shot and they had a sign on the door "No Gloves Allowed"

About the same or less actualy

It doesn't pay to put money in a bank

One of mine just rolled it was .10%,,,,,terrible.

I really think they want cashless,just hope it hangs out till I'm gone

Cryptocurrency!

Yes