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Economy

PoliticAverse

(26,366 posts)

5. The problem with cash, from a bankers standpoint, is bankers don't get a cut...

Reply to Eugene (Original post)

Wed Feb 17, 2016, 01:58 PM

Feb 2016

when you spend it or receive it. By eliminating cash bankers can get a cut of all transactions
like they get now when people pay with credit cards instead of cash.

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Lawrence Summers: It�s time to kill the $100 bill [View all] Eugene Feb 2016 OP

So then, once we *only* have electronic money left, when we hit "negative interest..." villager Feb 2016 #1

Yes. And etc. snot Feb 2016 #12

Good point. Forgot about the provision requiring us to prop up the Rockefeller class. villager Feb 2016 #13

How about killing the pennies first? LW1977 Feb 2016 #2

How about we don't pretend it's either/or and do both at once? -eom gcomeau Feb 2016 #3

Once a week until it takes hold I guess. It's a BAD idea. Ban diamonds, gold, bonds too? LINKS Festivito Feb 2016 #4

The problem with cash, from a bankers standpoint, is bankers don't get a cut... PoliticAverse Feb 2016 #5

Exactly. Fuddnik Feb 2016 #9

After Cash Punx Feb 2016 #6

This is a really bad paper zipplewrath Feb 2016 #7

"banks firmly in charge of ALL commerce, taking a fee for every transaction" - bingo! n/t PoliticAverse Feb 2016 #10

Is it bad of me to say, "It's time to kill Larry Summers"? Just figuratively speaking. Fuddnik Feb 2016 #8

I'll drink to that n/t Tansy_Gold Feb 2016 #11