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Tue Aug 4, 2020, 03:28 PM

If you have extra cash in savings......

(hey, you're probly not earning much interest on it at the bank...) take it down to the post office and purchase Postal Money Orders with it! That's cash for the P.O., and it stays with them until you cash the MO. (I have $3000 in postal MO's in my safe drawer, just sittin' there giving the USPS liquidity until tRump's gone and we can fix this shithole he's dug us into.)

(Got a suggestion to make this an OP)

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Response to lastlib (Original post)

Tue Aug 4, 2020, 03:29 PM

1. Great idea!

Although I don't know how the USPS handles their $$$, this makes sense.

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Response to lastlib (Original post)

Tue Aug 4, 2020, 03:45 PM

2. Great idea! I'll send my husband on a mission to do this for us!

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Response to lastlib (Original post)

Tue Aug 4, 2020, 03:50 PM

3. Nice idea but,

what happens to your money if the post office is finally driven by the Repugs into insolvency?

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Response to lastlib (Original post)

Tue Aug 4, 2020, 03:54 PM

4. If personal checks have a six-month shelf life, what about MOs?

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Response to lastlib (Original post)

Tue Aug 4, 2020, 03:55 PM

5. Hang on. Is the USPS problem cash flow or trumpy management?

I was led to believe that mgmt is slowing them down.

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Response to NightWatcher (Reply #5)

Tue Aug 4, 2020, 06:55 PM

10. They have cash-flow probs due to the onerous law

forcing them to fund future health-care obligations. Plus it seems trumpski's regime is using its pension fund for a piggy-bank. And his crony PG is mismanaging the agency into the ground--making it fail so they can claim it's broken so they can gut it further. If we don't stand up for it, they win.

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Response to lastlib (Original post)

Tue Aug 4, 2020, 03:56 PM

6. Like helping the PO. But, I'm not sure that really does it. In 2015, the USPS only made about

$1.7 Million on the "float" on money orders.

Interest rates were a lot higher then. So unless somebody here has some billionaire friends -- willing to tie all their money up in money orders for a long time -- not sure it will help much. But, better than nothing I guess.

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Response to Hoyt (Reply #6)

Tue Aug 4, 2020, 06:49 PM

8. The point of it is giving USPS operating cash, more than "float".

It's gotta help more than buying stamps we don't need. As strapped for cash as it is, every little bit can help--they can use our money as long as we're not using it, until we need it.

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Response to lastlib (Reply #8)

Tue Aug 4, 2020, 06:56 PM

11. I can see them investing it, but not spending what is an liability/obligation.

But maybe it helps, which is good.

Donít really believe GOPers will let them go under, thatís why they approved the $10 Billion loan in March.

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Response to Hoyt (Reply #11)

Tue Aug 4, 2020, 07:01 PM

13. The obligation to repay is a short-term liability,

but on the asset side they have current operating cash. They'll repay the liability with "next day" operating cash. The longer we hold the MO, the more time they have to use the cash, and hopefully it buys them time to get their financial house in order.

They also collect the fee for the MO.

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Response to lastlib (Reply #13)

Tue Aug 4, 2020, 07:06 PM

14. So, they run through the cash, then a bunch of folks redeem their money orders.

Sounds like a prescription for bankruptcy and a trump happy dance.

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Response to lastlib (Original post)

Tue Aug 4, 2020, 04:28 PM

7. So not only do you not make money but you have to pay for the

Money order? Not a good investment to lose money especially since the working poor are more likely to do this.

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Response to jimfields33 (Reply #7)

Tue Aug 4, 2020, 06:51 PM

9. Wouldn't claim it's a good investment--

It's a helping hand to an institution we need that Cockwomble and his crime ring want to destroy.

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Response to lastlib (Original post)

Tue Aug 4, 2020, 06:58 PM

12. That doesn't help that much.

It just sits in accounts payable fund until you cash it.

They can use the $1.50 fee they charge for the MO though immediately. They can also spend the interest earned off the MO.

Much better off buying $2 worth of stamps and using them. (using them frees the money, buying them - again goes into AP)

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Response to fescuerescue (Reply #12)

Tue Aug 4, 2020, 07:10 PM

15. See post #13.

It goes into their books as cash on the asset side, and they have a short-term obligation (account payable) on the liability side. They can use the cash to operate, as long as the MO re-payment isn't demanded. Accounting 101--no business just sits on an accounts payable fund.

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Response to lastlib (Original post)

Tue Aug 4, 2020, 07:27 PM

16. love this our son is a letter carrier

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