Cashless transactions

[P@triot]

Put up or continue to broadcast your ignorance.

Post #116 "puts up" and illustrates your astounding ignorance. Seriously - please become a liberal. We simply can't afford to have people this stupid on the right.

 

[Toddsterpatriot]

However, according to the quantity theory of money, because it reduces the supply of money it increases by the same amount the collective wealth of everyone else who holds money.

Sounds like you're refuting your own claim. Thanks.

Sounds like you can't read. Ask an adult for help.

You said it hurts our economy.
Then you posted something that said it hurts the owner but helps everyone else.

 

[P@triot]

If you think your bank account holds a stack of $20s (that's currency, twit) you're dumber than you first appeared.

Each binary 1 and 0 in your bank account corresponds to actual, physical currency you dimwit.

Thanks for admitting it doesn't hold currency. Because that was moronic, even for you.

Thanks for admitting that you had no idea that bank accounts correspond to actual currency in the economy.

It's amazing that I dumbed it down to your level using just $10 and it still made your head spin. Would you like the example again using just a $1?

 

[Toddsterpatriot]

Put up or continue to broadcast your ignorance.

Post #116 "puts up" and illustrates your astounding ignorance. Seriously - please become a liberal. We simply can't afford to have people this stupid on the right.

The currency component of M2 is currency held outside of a bank.
That means your bank account doesn't have any in it. DERP.

 

[P@triot]

You said it hurts our economy.

So then we can eliminate all U.S. currency except for a single $1 bill and it won't hurt our economy at all, right sparky?

 

[P@triot]

Put up or continue to broadcast your ignorance.

Post #116 "puts up" and illustrates your astounding ignorance. Seriously - please become a liberal. We simply can't afford to have people this stupid on the right.

The currency component of M2 is currency held outside of a bank.
That means your bank account doesn't have any in it. DERP.

Does it correspond to actual currency? Yes or No, dimwit? Go upstairs and ask an adult for help if you are confused.

 

[Toddsterpatriot]

If you think your bank account holds a stack of $20s (that's currency, twit) you're dumber than you first appeared.

Each binary 1 and 0 in your bank account corresponds to actual, physical currency you dimwit.

Thanks for admitting it doesn't hold currency. Because that was moronic, even for you.

Thanks for admitting that you had no idea that bank accounts correspond to actual currency in the economy.

It's amazing that I dumbed it down to your level using just $10 and it still made your head spin. Would you like the example again using just a $1?

bank accounts correspond to actual currency in the economy.

Is that why M2 is about $14 trillion but currency is less than $1.6 trillion?

It's amazing that I dumbed it down

You're very good at dumbing down. Not very good at facts.

 

[Toddsterpatriot]

You said it hurts our economy.

So then we can eliminate all U.S. currency except for a single $1 bill and it won't hurt our economy at all, right sparky?

You afraid foreigners are gonna buy up all our FRNs? LOL!

 

[Jarlaxle]

Removing physical currency from society will be one of the most impactful and positive events in the history of civilization:

• It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed. Gambling, narcotics, etc. are all in deep trouble instantly.

• It essentially eliminates robbery. Yes, there will be cybercrime of course. But a person hacking my bank account is a billion times safer than a person sticking a gun in my face to take my cash.

• It instantly eliminates all tax evasion. With a digital record of every transaction, all of the criminals who currently don't pay taxes now show an income. That closes a huge gap for the government and eases the burden on the rest of us who do pay our taxes.

Visa unveils new incentive plan to push cashless transactions

Gotta love the noose tightening...

--------------------------------------------- and NOOSE TIGHTENING is what it is Moonglow !!

Naah, that is your straitjacket.

 

[Toddsterpatriot]

Put up or continue to broadcast your ignorance.

Post #116 "puts up" and illustrates your astounding ignorance. Seriously - please become a liberal. We simply can't afford to have people this stupid on the right.

The currency component of M2 is currency held outside of a bank.
That means your bank account doesn't have any in it. DERP.

Does it correspond to actual currency? Yes or No, dimwit? Go upstairs and ask an adult for help if you are confused.

Does it correspond to actual currency?

My company didn't pay me with FRNs. They didn't need FRNs to pay me.
I didn't turn my paycheck into FRNs before I deposited it.

No, it doesn't correspond to currency.

 

[P@triot]

Yes, it solves many non-existent problems while giving government even more control over our lives. Pass.

When they need new currency, they can order it from the Fed. The BEP has some really nice printers and they'll be glad to print more to fix your imaginary "foreigners are gonna take all our cash and screw us" scenario.

So to recap - you don't want the government to have "control" over your life while you celebrate their ability to simply print money any time they want to - creating inflation and devaluing the currency you use to survive.

Sounds like someone is a true liberal at heart. Can't grasp basic economics and contradicts themselves from one post to the other.

 

[P@triot]

The currency component of M2 is currency held outside of a bank. That means your bank account doesn't have any in it. DERP.

Does it correspond to actual currency? Yes or No, dimwit? Go upstairs and ask an adult for help if you are confused.

No, it doesn't correspond to currency.

This is what happens when someone runs their mouth and then has to eat their words. They resort to the most absurd and bat-shit crazy posts imaginable. Yeah - your bank account doesn't correspond to actual currency Toddsterpatriot. In fact, you can't turn your $100 into $100,000 any time you want.

 

[P@triot]

If I sold you a firearm in a private transaction today and you paid me using PayPal, the government would have no clue what I sold you.

So much for "immediately eliminates criminal activity".

It's not illegal to privately sell a firearm, sparky.

(Holy shit - is there any topic you actually are informed about?)

 

[theHawk]

Goodbye privacy and be prepared to get fucked over by globalist banks, corporations and cyber terrorism. Do you trust your life savings to servers? Do you know how those severs are secured?

As someone who works in IT, I would never trust technology that much, and I would never trust the government and corporate globalist pigs either.

 

[P@triot]

Transactions aren't income.

Tell that to the IRS, sparky.

 

[P@triot]

If a prostitute used PayPal, it ruins your original claim....

It almost immediately eliminates criminal activity. Without cash, one has to explain transactions. A prostitute must explain why she had a transaction at 2:00 a.m. when she is not employed.

How do you figure, sparky? That income is now on record.

A. How is she going to avoid paying taxes on in it?

B. How is she going to explain the income when the IRS sees that she is not employed?

Oops...

 

[Toddsterpatriot]

Yes, it solves many non-existent problems while giving government even more control over our lives. Pass.

When they need new currency, they can order it from the Fed. The BEP has some really nice printers and they'll be glad to print more to fix your imaginary "foreigners are gonna take all our cash and screw us" scenario.

So to recap - you don't want the government to have "control" over your life while you celebrate their ability to simply print money any time they want to - creating inflation and devaluing the currency you use to survive.

Sounds like someone is a true liberal at heart. Can't grasp basic economics and contradicts themselves from post to the other.

I don't want the government to snoop thru every purchase or sale.
If that doesn't bother you, that's your business.

Yes, the Federal Reserve can influence the money supply.
Is that going to suddenly change if we eliminate cash? No?
Then it's not relevant to your thread.

Can't grasp basic economics

Compared to you, I'm Milton Friedman.

 

[depotoo]

Has it ever occurred to you, you want to punish the individuals right to privacy, to punish the govt that is out of control. That sounds like a real winner! Give them even more ability to grab what isn't theirs! Maybe it's time to step back and re-evaluate your position here.

Yes, it solves many non-existent problems while giving government even more control over our lives. Pass.

When they need new currency, they can order it from the Fed. The BEP has some really nice printers and they'll be glad to print more to fix your imaginary "foreigners are gonna take all our cash and screw us" scenario.

So to recap - you don't want the government to have "control" over your life while you celebrate their ability to simply print money any time they want to - creating inflation and devaluing the currency you use to survive.

Sounds like someone is a true liberal at heart. Can't grasp basic economics and contradicts themselves from post to the other.

 

[Toddsterpatriot]

The currency component of M2 is currency held outside of a bank. That means your bank account doesn't have any in it. DERP.

Does it correspond to actual currency? Yes or No, dimwit? Go upstairs and ask an adult for help if you are confused.

No, it doesn't correspond to currency.

This is what happens when someone runs their mouth and then has to eat their words. They resort to the most absurd and bat-shit crazy posts imaginable. Yeah - your bank account doesn't correspond to actual currency Toddsterpatriot. In fact, you can't turn your $100 into $100,000 any time you want.

Yeah - your bank account doesn't correspond to actual currency

I didn't deposit currency. The bank isn't holding my balance in currency. It doesn't correspond to currency.
You'd understand if you could read the charts I posted.

 

[P@triot]

You said it hurts our economy.

So then we can eliminate all U.S. currency except for a single $1 bill and it won't hurt our economy at all, right sparky?

You afraid foreigners are gonna buy up all our FRNs? LOL!

Way to run from that one, sparky!

So to recap: it is your position that we can eliminate all but a single $1 bill from our economy and it won't affect anything. You've already stated that.

Holy shit. How humiliating. I would never be able to return to USMB if I said something that stupid.