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lastlib

(22,736 posts)
Tue Aug 4, 2020, 03:28 PM Aug 2020

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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Disaffected

(4,440 posts)
3. Nice idea but,
Tue Aug 4, 2020, 03:50 PM
Aug 2020

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

NightWatcher

(39,343 posts)
5. Hang on. Is the USPS problem cash flow or trumpy management?
Tue Aug 4, 2020, 03:55 PM
Aug 2020

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

lastlib

(22,736 posts)
10. They have cash-flow probs due to the onerous law
Tue Aug 4, 2020, 06:55 PM
Aug 2020

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.

 

Hoyt

(54,770 posts)
6. Like helping the PO. But, I'm not sure that really does it. In 2015, the USPS only made about
Tue Aug 4, 2020, 03:56 PM
Aug 2020

$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.

lastlib

(22,736 posts)
8. The point of it is giving USPS operating cash, more than "float".
Tue Aug 4, 2020, 06:49 PM
Aug 2020

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.

 

Hoyt

(54,770 posts)
11. I can see them investing it, but not spending what is an liability/obligation.
Tue Aug 4, 2020, 06:56 PM
Aug 2020

But maybe it helps, which is good.

Don’t really believe GOPers will let them go under, that’s why they approved the $10 Billion loan in March.

lastlib

(22,736 posts)
13. The obligation to repay is a short-term liability,
Tue Aug 4, 2020, 07:01 PM
Aug 2020

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.

 

Hoyt

(54,770 posts)
14. So, they run through the cash, then a bunch of folks redeem their money orders.
Tue Aug 4, 2020, 07:06 PM
Aug 2020

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

jimfields33

(15,201 posts)
7. So not only do you not make money but you have to pay for the
Tue Aug 4, 2020, 04:28 PM
Aug 2020

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

lastlib

(22,736 posts)
9. Wouldn't claim it's a good investment--
Tue Aug 4, 2020, 06:51 PM
Aug 2020

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

fescuerescue

(4,448 posts)
12. That doesn't help that much.
Tue Aug 4, 2020, 06:58 PM
Aug 2020

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)

lastlib

(22,736 posts)
15. See post #13.
Tue Aug 4, 2020, 07:10 PM
Aug 2020

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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