@Jzyskowski1 said:
Not that hard to run vehicles on booze and by golly we are capable of making it. 😉🙀🦫.
Maybe if you have a model A in your garage, however I dare you to try and run your modern fuel injected minivan on booze, you will not make it very far and the cost to replace all those injectors will be pricey.
@Jzyskowski1 said:
Agreed coinbuf. But my 69 vw camper sure will and with just minor work. Anyway none of this is more than speculation and entertainment. 😉🙀🦫
I really don't think getting to work is my biggest problem when a nuclear exchange creates an EMP.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@Jzyskowski1 said:
Agreed coinbuf. But my 69 vw camper sure will and with just minor work. Anyway none of this is more than speculation and entertainment. 😉🙀🦫
I really don't think getting to work is my biggest problem when a nuclear exchange creates an EMP.
But ya gotta get food unless you have a bunch of MRE's stored up!
@Jzyskowski1 said:
Agreed coinbuf. But my 69 vw camper sure will and with just minor work. Anyway none of this is more than speculation and entertainment. 😉🙀🦫
I really don't think getting to work is my biggest problem when a nuclear exchange creates an EMP.
But ya gotta get food unless you have a bunch of MRE's stored up!
Ummm... you think the grocery store is open after the nuclear bomb goes off? There's no refrigeration, no shipping, no finance or computers. Smh....
If the best reason you folks can come up with for physical cash is nuclear war, bring on the digital money.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@Jzyskowski1 said:
Agreed coinbuf. But my 69 vw camper sure will and with just minor work. Anyway none of this is more than speculation and entertainment. 😉🙀🦫
I really don't think getting to work is my biggest problem when a nuclear exchange creates an EMP.
But ya gotta get food unless you have a bunch of MRE's stored up!
Ummm... you think the grocery store is open after the nuclear bomb goes off? There's no refrigeration, no shipping, no finance or computers. Smh....
If the best reason you folks can come up with for physical cash is nuclear war, bring on the digital money.
That is not the best reason given, nor is it even a valid reason at all.
In my opinion the best reason to still use "cash" is to avoid fees and capital controls.
@Jzyskowski1 said:
Agreed coinbuf. But my 69 vw camper sure will and with just minor work. Anyway none of this is more than speculation and entertainment. 😉🙀🦫
I really don't think getting to work is my biggest problem when a nuclear exchange creates an EMP.
But ya gotta get food unless you have a bunch of MRE's stored up!
Ummm... you think the grocery store is open after the nuclear bomb goes off? There's no refrigeration, no shipping, no finance or computers. Smh....
If the best reason you folks can come up with for physical cash is nuclear war, bring on the digital money.
That is not the best reason given, nor is it even a valid reason at all.
In my opinion the best reason to still use "cash" is to avoid fees and capital controls.
Capital controls, perhaps. There is no reason why there need be any fees, though there might be. A Fed digital account need not charge transaction fees. Person-to-person transfers ashtray occur digitally without fees.
It's rather interesting that this conversation is taking place on the internet. You can make all the same objections to the internet itself, yet here we are. When the benefits are greater than the costs, we choose to swallow the costs.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@jmlanzaf said:
We know exactly what happens. Look at the Euro replacing national coinage. You will see no immediate change in anything. 50 years from now...
I don't think you realize how rapidly things can change in what is becoming an increasingly digital economy. The government that creates change is more and more moving to a cashless society they can control and more importantly tax. I have a friend that just sold his retail business after 40+ years in operation. What was almost 100% cash when he started was down to less than 10% when he closed. Even $2 purchase were being made on debit cards.
I go into a 7/11 and am an anomaly when I pay with cash. The person in front of me has a debit card and the person behind me an EBT card. In 2021 only 19% of payments are made in cash which was down 7% from 2019. Some of that decrease is probably pandemic related but some of that decline will continue as non-contact payments (a card swiped through a machine versus handling cash) continues.
So I have serious doubts a conversion to cash is going to take anywhere near 50 years. Coins will exist but not as a major means of day to day commerce.
The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
@jmlanzaf said:
We know exactly what happens. Look at the Euro replacing national coinage. You will see no immediate change in anything. 50 years from now...
I don't think you realize how rapidly things can change in what is becoming an increasingly digital economy. The government that creates change is more and more moving to a cashless society they can control and more importantly tax. I have a friend that just sold his retail business after 40+ years in operation. What was almost 100% cash when he started was down to less than 10% when he closed. Even $2 purchase were being made on debit cards.
I go into a 7/11 and am an anomaly when I pay with cash. The person in front of me has a debit card and the person behind me an EBT card. In 2021 only 19% of payments are made in cash which was down 7% from 2019. Some of that decrease is probably pandemic related but some of that decline will continue as non-contact payments (a card swiped through a machine versus handling cash) continues.
So I have serious doubts a conversion to cash is going to take anywhere near 50 years. Coins will exist but not as a major means of day to day commerce.
You misunderstand. I didn't say it would take 50 years. I said that I don't know the effect of the change 50 years AFTER it is made. There was zero effect on the coin market in the Eurozone after conversion. 50 years later...I don't know.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@jmlanzaf said:
We know exactly what happens. Look at the Euro replacing national coinage. You will see no immediate change in anything. 50 years from now...
I don't think you realize how rapidly things can change in what is becoming an increasingly digital economy. The government that creates change is more and more moving to a cashless society they can control and more importantly tax. I have a friend that just sold his retail business after 40+ years in operation. What was almost 100% cash when he started was down to less than 10% when he closed. Even $2 purchase were being made on debit cards.
I go into a 7/11 and am an anomaly when I pay with cash. The person in front of me has a debit card and the person behind me an EBT card. In 2021 only 19% of payments are made in cash which was down 7% from 2019. Some of that decrease is probably pandemic related but some of that decline will continue as non-contact payments (a card swiped through a machine versus handling cash) continues.
So I have serious doubts a conversion to cash is going to take anywhere near 50 years. Coins will exist but not as a major means of day to day commerce.
You misunderstand. I didn't say it would take 50 years. I said that I don't know the effect of the change 50 years AFTER it is made. There was zero effect on the coin market in the Eurozone after conversion. 50 years later...I don't know.
I misunderstood your 50 year comment but I don't think we know exactly what will happen based on the Euro experience. When the decision is made to go digital I think there will be a time limit established for the continued use of cash and the removal of cash from the above ground market (versus gray and black market) will occur relatively quickly. If I know the few hundred dollars of clad in a large jug I have at home is going to be essential worthless after December 31st 20XX I'm going to be turning it into digital well before that date. I think most vendors and individuals view handling change as a pain in the butt which is why it gets tossed in jars, cans and other containers at home. There is a strong practical motivation to get rid of it as a nuisance except for the relatively few collectors.
The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
@jmlanzaf said:
We know exactly what happens. Look at the Euro replacing national coinage. You will see no immediate change in anything. 50 years from now...
I don't think you realize how rapidly things can change in what is becoming an increasingly digital economy. The government that creates change is more and more moving to a cashless society they can control and more importantly tax. I have a friend that just sold his retail business after 40+ years in operation. What was almost 100% cash when he started was down to less than 10% when he closed. Even $2 purchase were being made on debit cards.
I go into a 7/11 and am an anomaly when I pay with cash. The person in front of me has a debit card and the person behind me an EBT card. In 2021 only 19% of payments are made in cash which was down 7% from 2019. Some of that decrease is probably pandemic related but some of that decline will continue as non-contact payments (a card swiped through a machine versus handling cash) continues.
So I have serious doubts a conversion to cash is going to take anywhere near 50 years. Coins will exist but not as a major means of day to day commerce.
You misunderstand. I didn't say it would take 50 years. I said that I don't know the effect of the change 50 years AFTER it is made. There was zero effect on the coin market in the Eurozone after conversion. 50 years later...I don't know.
I misunderstood your 50 year comment but I don't think we know exactly what will happen based on the Euro experience. When the decision is made to go digital I think there will be a time limit established for the continued use of cash and the removal of cash from the above ground market (versus gray and black market) will occur relatively quickly. If I know the few hundred dollars of clad in a large jug I have at home is going to be essential worthless after December 31st 20XX I'm going to be turning it into digital well before that date. I think most vendors and individuals view handling change as a pain in the butt which is why it gets tossed in jars, cans and other containers at home. There is a strong practical motivation to get rid of it as a nuisance except for the relatively few collectors.
All of that happened with the Euros. None of the predecessor currency and coins are legal tender any more. There are still buckets of it out there. It neither went up or down in collector value.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I think there will be some hoarding but the earlier coins will benefit more then the moderns just due to mintage, survival and what they already are today compared to moderns. The US Mint will continue with bullion and medals.
Comments
Not that hard to run vehicles on booze and by golly we are capable of making it. 😉🙀🦫.
🎶 shout shout, let it all out 🎶
Maybe if you have a model A in your garage, however I dare you to try and run your modern fuel injected minivan on booze, you will not make it very far and the cost to replace all those injectors will be pricey.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Agreed coinbuf. But my 69 vw camper sure will and with just minor work. Anyway none of this is more than speculation and entertainment. 😉🙀🦫
🎶 shout shout, let it all out 🎶
I really don't think getting to work is my biggest problem when a nuclear exchange creates an EMP.
All comments reflect the opinion of the author, evn when irrefutably accurate.
But ya gotta get food unless you have a bunch of MRE's stored up!
Ummm... you think the grocery store is open after the nuclear bomb goes off? There's no refrigeration, no shipping, no finance or computers. Smh....
If the best reason you folks can come up with for physical cash is nuclear war, bring on the digital money.
All comments reflect the opinion of the author, evn when irrefutably accurate.
What is your thought on the idea that with digital money, somebody other than yourself will be the one to permit you to use it?
That is not the best reason given, nor is it even a valid reason at all.
In my opinion the best reason to still use "cash" is to avoid fees and capital controls.
99% of my money is already digital. That horse has left the barn.
Digital money may make more control possible. It doesn't make it inevitable.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Capital controls, perhaps. There is no reason why there need be any fees, though there might be. A Fed digital account need not charge transaction fees. Person-to-person transfers ashtray occur digitally without fees.
It's rather interesting that this conversation is taking place on the internet. You can make all the same objections to the internet itself, yet here we are. When the benefits are greater than the costs, we choose to swallow the costs.
All comments reflect the opinion of the author, evn when irrefutably accurate.
An optimist, I guess?
I don't think you realize how rapidly things can change in what is becoming an increasingly digital economy. The government that creates change is more and more moving to a cashless society they can control and more importantly tax. I have a friend that just sold his retail business after 40+ years in operation. What was almost 100% cash when he started was down to less than 10% when he closed. Even $2 purchase were being made on debit cards.
I go into a 7/11 and am an anomaly when I pay with cash. The person in front of me has a debit card and the person behind me an EBT card. In 2021 only 19% of payments are made in cash which was down 7% from 2019. Some of that decrease is probably pandemic related but some of that decline will continue as non-contact payments (a card swiped through a machine versus handling cash) continues.
So I have serious doubts a conversion to cash is going to take anywhere near 50 years. Coins will exist but not as a major means of day to day commerce.
You misunderstand. I didn't say it would take 50 years. I said that I don't know the effect of the change 50 years AFTER it is made. There was zero effect on the coin market in the Eurozone after conversion. 50 years later...I don't know.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I misunderstood your 50 year comment but I don't think we know exactly what will happen based on the Euro experience. When the decision is made to go digital I think there will be a time limit established for the continued use of cash and the removal of cash from the above ground market (versus gray and black market) will occur relatively quickly. If I know the few hundred dollars of clad in a large jug I have at home is going to be essential worthless after December 31st 20XX I'm going to be turning it into digital well before that date. I think most vendors and individuals view handling change as a pain in the butt which is why it gets tossed in jars, cans and other containers at home. There is a strong practical motivation to get rid of it as a nuisance except for the relatively few collectors.
All of that happened with the Euros. None of the predecessor currency and coins are legal tender any more. There are still buckets of it out there. It neither went up or down in collector value.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I think there will be some hoarding but the earlier coins will benefit more then the moderns just due to mintage, survival and what they already are today compared to moderns. The US Mint will continue with bullion and medals.
Pocket Change Inspector