The financial sector and derivatives may have a Hindenburg moment if the US Treasury market collapses.Rising market illiquidity in the $14.8 trillion U.S. Treasury market, according to Bank of America, might affect other financial markets.
@Justinmeyer1000
2 ай бұрын
We face a new challenge every day. The new normal is this. We now see that this is the new normal and must adjust, having initially believed it to be a catastrophe. Across the country, this year will be quite painful economically.
@PatrickFitzgerald-cx6io
2 ай бұрын
I completely agree, which is why I prefer delegating daily decision-making to an investment coach. It is nearly difficult for them to perform below par given their specialised knowledge, extensive research, and the fact that every ability they possess is focused on maximising risk for its asymmetrical potential and minimising it as a safety net against certain unfavourable turns. I've worked with an investing coach for over two years and have made over a million dollars.
@brucemichelle5689.
2 ай бұрын
Impressive! I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging, who's the professional coaching you?
@PatrickFitzgerald-cx6io
2 ай бұрын
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
@brucemichelle5689.
2 ай бұрын
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
@barttfisher
4 ай бұрын
Everything costs more, so I ask for a raise, but then companies raise prices to cover their costs, and here we go again!Feels like a hamster wheel, going nowhere fast.
@HildaBennet
4 ай бұрын
Knowledge is power. Research your industry's average salary and be prepared to negotiate for a raise that reflects the rising cost of living. Strong data makes a strong case. Personally I gave up on the raise and started chasing supplementary income via bond dividends and stocks.
@FinnBraylon
4 ай бұрын
Inflation has turned the stock market into a terrifying ride. So I hired a fiduciary to be my investment compass. There are aspects of market trend that is difficult for the untrained eyes to see. I have made more than 350% through my estateplanner(fa) by alternative investing. The portfolio comes with perks as well.
@PennyBergeron-os4ch
4 ай бұрын
I thought gains like that are nothing but a pipe dream! mind sharing details of yourmanager please?
@FinnBraylon
4 ай бұрын
Sonya lee Mitchell is the licensed fiduciary. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@PennyBergeron-os4ch
4 ай бұрын
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
@Powerz00
4 ай бұрын
is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?
@WestonScally7614
4 ай бұрын
It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.
@SaintYvess
4 ай бұрын
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
@Redwood4040
4 ай бұрын
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.
@SaintYvess
4 ай бұрын
Jennifer Leigh Hickman is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@JordanReam8186
4 ай бұрын
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
@RuthEvelyn-rc3bg
4 ай бұрын
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
@CrystalJoy-32
4 ай бұрын
I feel like I could really need more assistance because navigating the market is so frightening to me. I've already sold off the majority of my assets, so I could use some guidance on where to put my money.
@Sampson-jh7yq
4 ай бұрын
I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.
@jose2212-
4 ай бұрын
Biden is not entirely responsible for whatever is going. The economy is cyclical, and things will definitely get better. The first rule of investing is to keep investing, whatever the economy is doing. That is how you make substantial gains.
@alicegomez7232
4 ай бұрын
That's some incredible gains. How do you find a financial advisor? I've been trying to connect with one for some time now, an I don't want to work with hedge funds.
@jose2212-
4 ай бұрын
There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
@charlesbrown6581
10 ай бұрын
I agree that every business should accept cash
@andidede3653
10 ай бұрын
It would be cheaper for them since they wouldn't have to deal with transaction fees from banks and credit card companies, but they then have to pay to get to a bank, theft etc. But I know places who flat out refuse to acdept cash, and I avoid them.
@blipblop92
10 ай бұрын
Good way to get robbed 😅
@longiusaescius2537
10 ай бұрын
@blipblop92 not really
@blipblop92
10 ай бұрын
@@longiusaescius2537 i own a cleaning business and we stopped accepting cash over the pandemic, its unhygienic and dangerous to be carrying cash around
@Omer1996E.C
10 ай бұрын
@@blipblop92 don't you have a nearby bank to deposit it once every few hours, if you're too careful, then once every hour? Or is there a fee for deposit in the USA?
@conrmckocoa9352
10 ай бұрын
Problem with cash is that it's harder to control, track, and monitor us common folk compared to digital payments. Cash is king.
@somedud1140
10 ай бұрын
It's not just that, every so often a shop has internet connection failure and they can't accept digital payment or takes forever and you may be in hurry.
@Nikowalker007
10 ай бұрын
Just like cryptocurrency except it can’t be hacked or frozen
@conrmckocoa9352
10 ай бұрын
@@Nikowalker007 Crypto was designed to be tracked with meticulous records.
@Stevesguitartraveling777
10 ай бұрын
With all of the drug Lords, that ship cocaine in this country and make their payments do cash, I don’t think the druglords would approve to this. They would probably use their power to fight for that.
@conrmckocoa9352
10 ай бұрын
@@Stevesguitartraveling777 Yeah, I guess we can't protect our own border so instead remove the cash from society. That's a total lack of logic and ignorant thought process. Criminals do X so no one else should be able to do it. Criminals like joe biden set up dozens of shell corporations with no product or service. Should we ban shell corporations too?
@NotoriousRawDogger
10 ай бұрын
Sometimes it’s cheaper to use cash. This transactions costs are killing me
@Psi-Storm
10 ай бұрын
It is just lobbying that keeps them expensive. In Europe card payments are regulated to 0,2% for debit cards and 0,3% for credit cards.
@lingth
10 ай бұрын
Sometimes some countries may impose withdrawal fees as it cost more to pay for staff to go around and top up ATMs and service ATMs, so if cash withdrawal is limited to 4 times a month and the 5th withdrawal has a fee of $10 or 2% then ppl may want to go cashless. If there is no penalty for using paper cash and withdrawal then digital payments isn't going to replace cash anytime.
@fndorigin9021
10 ай бұрын
@@lingthWhat kind of sick solution is that? And why did bank charge us everytime we want to take back our money that we put on them? If they do that I'd rather to put all my money in cash, not on the bank
@IMGreg..
10 ай бұрын
Transaction costs rarely happens in Ontario Canada. I haven't drawn money from a cash machine in almost 4 years. Our convenient stores almost never get robbed because few people use cash, it's not worth it.
@righteousone1
10 ай бұрын
I love the smell of brand new cash.
@eed5682
10 ай бұрын
Pre-pandemic, I went to withdraw @ $9,000 from my checking. Bank said I would have to come back in a week or two, because they didn’t have that kind of cash on hand. The Fed can put holds on accounts too, and make your money inaccessible for a period of time. Anyone that wishes for a cashless society, better be careful what they wish for. I can see the advantages of it, but there are many dangers and disadvantages too. It would probably be best to always have access to both
@cosmicllama6910
10 ай бұрын
They will slowly use it to put more restrictions on people overtime. It's one step in a plan for complete control over every aspect of our lives.
@JohnWarner-lu8rq
10 ай бұрын
Heck. I live in a town of 2600 people, and they have at least $70K on hand at all times. I would have switched banks that same day.
@DS-li7go
10 ай бұрын
I have some experience in this. Banks don't keep large amounts of cash on hand to reduce the risk of large losses, but also because it's an ineffective use of resources. You see banks keep large amounts of cash in rural areas because the risk of loss is low and because there are areas of the country that are cash heavy. Sometimes it's a denomination issue, other times there's logistical problems with cash transport. There's many reasons this could've happened. Not to say that it's right out wrong that it happened, but I do agree. We need to have physical cash, if not simply because it keeps control in the people's hands.
@omarsmusic4316
10 ай бұрын
I have a debit card and payment apos but I almost never use them I always use cash. Most of the people my age in ( 30s) that I know uses payment apps or a credit or debit card.
@williamdickerson8898
10 ай бұрын
@@omarsmusic4316 That's a big problem they have the younger generation thinking it's more convenient, but it's not and far more expensive.
@sleepysteev2735
9 ай бұрын
Cash is, as far as I can tell, the easiest way to live with as little debt is possible. You can't spend what you don't have.
@ChadTharp
5 ай бұрын
Wrong answer
@OIII-IOOO
5 ай бұрын
my debit card allows me the same thing. i have lived exclusively on a combination of debit card and cash for the last five years and i have no debt.
@nsbioy
10 ай бұрын
One problem with digital is that you can’t use it when power is down.
@jmister6824
10 ай бұрын
The biggest problem with a CBDC is not power going down.. but is when some unknown faceless person can monitor and track literally everything you do. And eventually decide what you can and can't buy. We need a constitutional amendment that guarantees the continuation of cash. Privacy, being necessary for the security of a free society, the right of the people, to keep and use cash, shall not be infringed.
@tommy2cents492
10 ай бұрын
Is the infrastructure really that bad?
@guardianoffire8814
10 ай бұрын
@@jmister6824 Not really. Digital currencies and crypto leave a trail. But its usually difficult to know who owns the digital wallet. Its one of the reasons why criminal gangs, terrorist groups, separatist militants, and enemies of the West getting around sanctions.
@tammyturowski6703
10 ай бұрын
@@tommy2cents492Maine just got hit yest. Australia this week 14 hrs no internet. Canada last year for 3 days.
@squidreuel
10 ай бұрын
Yep in California we have our power safety shut downs
@smoothoperator1083
10 ай бұрын
Going digital is the worst idea yet! We must push back on this. It is dangerous. Look at what happened in Canada!💯👍
@DJ-yh8hm
10 ай бұрын
Plus people who prefer to go cashless can do so and getting rid of cash will have zero benefits to them.
@smoothoperator1083
10 ай бұрын
@@DJ-yh8hm Agreed
@jilldawson89
8 ай бұрын
Look what is already happening in China. Depositors can't even withdraw their cash from their banks.
@BobSmith-ui4qu
5 ай бұрын
What happened in Canada. I usually don’t carry any cash at home in Canada. It’s all debit, no problems. The only people that object to debit are those who don’t want to pay tax and that catches up to the suppliers because they have to account for the stuff they sold and where is the sales tax on the stuff sold?
@Joooooooooooosh
5 ай бұрын
@@BobSmith-ui4quDid you sleep through the whole “government seizing bank accounts of protesters” thing?
@JasonBetthauser
10 ай бұрын
We should never consider going all digital. No matter how much you think you have, you might as well have nothing at all considering the amount of control you will have over it when the government steps in.
@ccarrera951
10 ай бұрын
amen .
@PatrickMcAsey
10 ай бұрын
Utter nonsense. The only people interested in this are tax dodgers and money-launderers. The government are very welcome to know every detail of what I earn and spend - as if it were of the slightest interest to them. You have a naive, touching faith in the efficiency of government.
@doujinflip
10 ай бұрын
More like if the network goes down and you need to pay for essentials in the meantime. Cash itself is not invulnerable -- the issuing government could change the design or otherwise declare an older bill invalid, and then you just end up with slips of paper whose volatility shoots up and buying power becomes increasingly questionable.
@kaseyc5078
10 ай бұрын
Don’t forget what happened in Canada where they froze bank accounts from people who were simply protesting
@ccarrera951
10 ай бұрын
@@kaseyc5078 we neVer forget .
@kingderald
10 ай бұрын
Honestly started keeping cash on hand. I don’t even spend it faster. It sits in my wallet and just keeps adding up over time. PRIVACY is definitely key. Can’t allow the government to know everything.
@Lo289-im3ip
10 ай бұрын
Agreed
@tsubadaikhan6332
10 ай бұрын
If you've got a phone in your pocket, someone much more organised and dangerous knows more about you than the Government ever cared to. And they know how to get value from that information. And, I don't know about you, but I can't live without my phone.
@kyos2000
10 ай бұрын
This is an under rated comment
@growingup15
10 ай бұрын
@@tsubadaikhan6332 sounds like something a fed would say
@kleamat
10 ай бұрын
@@tsubadaikhan6332 use vpn it helps
@dianejones1413
9 ай бұрын
Take cash away from me and you take away my right to.... 1. Surprise people with a thankyou gift 2. Budget my own money- easier when I need to count it 3. Feel safe - having cash make me feel safe, cards don't 4. Anonymity - I don't need banks knowing EXACTLY WHAT and WHERE I bought 5. Be able to pay for a sudden casual purchase
@ChadTharp
5 ай бұрын
Wrong answer
@NEXTGENCOMEDY4XBOX
2 ай бұрын
These arent rights. If you walked into a fed meeting saying what you commented they would stop printing and go all digital next day 😂
@JV-pu8kx
10 ай бұрын
Eliminating cash will only serve to hurt the poor when every penny counts. Plus they don't always have access to banking, especially since they require proof you have a _physical_ address. I've had that problem, myself. I'm not the one who pays the utilities, and all mail comes to a Post Office box.
@ArmageddonIsHere
3 ай бұрын
India - a country the press here loves to deride as "Third World" - has addressed the problems you mentioned. If India could, so can other large countries.
@TonyVainosky
10 ай бұрын
As someone who loves technology and am fascinated by it, dont go cashless! Just remember, electronic = trackable
@Tpavra
10 ай бұрын
So? Unless your breaking the law, what is there to worry about?
@prodig33
10 ай бұрын
@@Tpavra you must love paying taxes, good for you.
@gerardosigaran8665
10 ай бұрын
@@prodig33if you live in any society you should pay taxes and contribute to society end of discussion, if you use a road , you should contribute, you want cops to protect you , you should contribute etc etc
@TonyVainosky
10 ай бұрын
@Tpavra has absolutely nothing to do with illegal vs legal. It has to do with you consenting (or not, in this case) to businesses, corporations & governments tracking your spending habits. But, do you 👍
@Tpavra
10 ай бұрын
@@gerardosigaran8665 100%
@glasslinger
7 ай бұрын
We had the "system" go down in Houston after the Harvey hurricane. On the west side of the city there was no ATM working, no cell phone working, no internet working, all banks closed. If you didn't have cash on hand YOU WERE SCREWED! This lasted over 2 weeks in some areas. Electronic is OK but cash still must be present.
@zachkatsihtis4152
5 ай бұрын
Absolutely correct!! You can’t eat a credit card if there’s an emergency. Always carry CASH!!!
@gavinathling
5 ай бұрын
Or... maybe... we should design and fund our infrastructure for the local conditions? Europe doesn't have people starving due to natural disasters, largely because there are fewer disasters, but also because, where relevant, power lines are buried, and power plants are not on separate grids, etc.
@gendo1kar1
10 ай бұрын
Credit card fees hurt small business, or costs passed to consumers when possible. This needs to end or be drastically reduced in my opinion.
@nsbioy
10 ай бұрын
I agree. However, credit cards do add convenience: no need for armored truck services to haul away cash, and no cash means less risk of getting robbed.
@Comm0ut
10 ай бұрын
No, they don't. That's a myth because they'd get the sale either way, Small businesses can include the fees in all prices and customers will never notice. It's when they do silly sheet like having cash discounts etc that customers start doing the math. Smart small businesses (including individuals at flea markets etc) make the effort to take plastic. A USB card reader is dirt cheap.
@jamesharrison2374
10 ай бұрын
Well there are two stores in town, both are in the same line of business. The one has more supply,the price is lower, and they don’t charge any fees. The other store charges 3.5% on cards, has less supply, harder to drive to, and prices are slightly higher. Guess which small business I buy from.
@ncochran01
10 ай бұрын
Build the credit cost into your price. Most places have already done it. People accept it. I rarely have more than $20 in my wallet as I buy everything on a card and pay it off at the end of the month.
@darksaiyan4
10 ай бұрын
Crypto xrp is the answer
@FrancesRyan-b2p
7 ай бұрын
Cash commodity is beginning to loose it’s value, the world we’re in today is a world fast developing more currencies are being created which beats the value of cash commodity and others, cryptocurrency today is fast growing and most people cease to participate in owning and trading with it
@DeborahPearson-ng2cs
7 ай бұрын
You are right.!
@SandraPatterson-di6xh
7 ай бұрын
I’m shocked at how far the world of crypto has gone, it all started with no serious note given but today it’s the world’s leading currency 🥲 I’m glad bitcoin started all this and it has been favorable so far
@LouisMorris-vq8hf
7 ай бұрын
Trading with crypto is more beneficial than most people sees it to be, just like stock, and forex trade, crypto is also the world fastest leading currency now and in the near future
@LexiPatel
7 ай бұрын
Investing in Stocks, Forex and cryptocurrency is the wisest, it's a place where millionaires and future billionaires come to get inspired. If you've not been involved in any you're missing out. Most importantly If you know how to trade you can make a ton of money no matter where you find yourself
@JoeCloud-hy2uc
7 ай бұрын
Bitcoin is the best coin to invest in fast rising and if you are lucky to have a good broker then I believe you have absolutely nothing to worry about because you are in for a finicial uplift.
@PatrickLloyd-
10 ай бұрын
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
@Dannyholt33
10 ай бұрын
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
@ffff560
10 ай бұрын
Firstly we need Trumo back
@charlesg7926
10 ай бұрын
Biden is the problem
@Nernst96
10 ай бұрын
Having an lnvestment advser is the best way to go about the market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K so far, that made it clear there's more to the market that we avg joes don't know
@mikeroper353
10 ай бұрын
@@Nernst96 I find this intriguing. Could you please provide me with the means to get in touch with your Adviser? I am concerned about my dwindling portfolio.
@ndchunter5516
10 ай бұрын
Governments and Banks have shown to be shady on quite a few occasions to basically give them about 0 trust. Ofc you could also blow up the value of cash but there is no middle man when you hand over someone a dollar bill
@meatballhead15
10 ай бұрын
I use cash as much as possible. Any "cashless" establishment loses me as a customer. Plus the credit surcharges hurt customers and small businesses alike!
@DavidLee-ig2qq
10 ай бұрын
Ok grandad
@meatballhead15
10 ай бұрын
Didn't know people in their 30s could biologically be grandparents x_X
@billdescoteaux
10 ай бұрын
@@meatballhead15 Well, there is Lauren Boebert, she's a grandma at 36!
@nsbioy
10 ай бұрын
good points, although accepting cash also carries cost to the business. Hauling cash with an armored truck is not free. Even if your business is small enough not to need an armored services, you will still be on the hook for counterfeits and a target for theft. Cash may still cost less to the business, but it is less convenient. That said, I do not dig businesses that do not accept cash, but there are more and more of them. Try renting a car with cash?
@cosmicllama6910
10 ай бұрын
@@DavidLee-ig2qq I think people should be able to buy from an adult toy store for example, and not have their purchase history visible to people like their new landlord. I had an apartment manager once tell us she would see some embarrassing things like that sometimes when doing the paperwork for new tenants. Privacy is still important and should always be an option.
@3DJapan
6 ай бұрын
Back in college in the 90s I needed to buy a train ticket and only had a $20 the machine gave me all Suzanne B Anthony dollar coins. It was a real pain carrying a pocket full of these coins all day.
@JV-pu8kx
10 ай бұрын
Having money in physical form is a powerful, educational tool. Heard a story where a guy replaced the cash in his Monopoly set with the real thing. His kids' game play was quite different from when they played with the Monopoly money. There is a stark difference in spending habits compared to kids who have never seen actual money.
@arex9000
10 ай бұрын
i went to the grocery store with cash and my spending attitude def changed. Though it did give me anxiety because i was afraid of going over with tax.
@rc8929
10 ай бұрын
For me nothing changes. I just find cash annoying. But I only spend about 50% of what I earn so I am likely an anomaly.
@JV-pu8kx
10 ай бұрын
@@chingvang9320 The kids went from liberal spending with the Monopoly money to ultra conservative when the real stuff came out. And, yes he did have an interesting time with the bank teller, both when he was taking the money out, and putting it back when the experiment was over.
@JV-pu8kx
10 ай бұрын
@@chingvang9320 The difference is when you can see what a stack of money looks like when it is in your hand, versus a number on a display.
@norsefalconer
10 ай бұрын
I think it was Dave Ramsey (not really a fan) that was saying there was a study that found the brains of people buying with cash reacted with signals similar to physical pain, whereas paying electronically produced no such reaction.
@Ottee2
10 ай бұрын
I like using cash. The new polymer notes in Canada took some getting use to, but we seem to have accepted the transition. At first, the polymer notes tend to stick together when brand new, so you might pay more than you intended. As they break in, though, over time there is less trouble separating them. As for the coins, the loonie ($1) and the toonie ($2), it makes sense that they became coins with the gradual depreciation in value. Heck, we got rid of the penny in Canada because it's worthless. It cost more to produce the penny than it's worth. One day, the nickel will probably go, too.
@JonMartinYXD
10 ай бұрын
We should get rid of the dime before we get rid of the nickel. It should always be possible to break a denomination into the next smaller denomination. Dimes violate that rule: you can't break a quarter into dimes.
@JeremyBryce-r5x
10 ай бұрын
Polymer notes are an Australian invention, just sayin'
@PatrickMcAsey
10 ай бұрын
@@JeremyBryce-r5x Why? Just sayin'.
@Ottee2
10 ай бұрын
@@JonMartinYXD, Good point.
@Ottee2
10 ай бұрын
@@JeremyBryce-r5x , Shoutout to the Aussies. 👍
@deepshotone
5 ай бұрын
Vegas bartender here.... I think I speak for all tip earners "cash is king"...
@ThraxMan84
10 ай бұрын
Using cash makes you aware of the money you actually have so you know you only have x amount of money to spend for whatever goods you want. Electronic payments and cards are too easy to use and you'll end up spending more. And if you aren't paying your balances off every month then you are hit with interest charges so the cost of our purchases will be even more.
@rocky965able
10 ай бұрын
I agree with what the guy said at the end. Cash is easier to manage you don't have to worry about overdraft fees. You use your card only if you don't have enough cash. Then you're aware of how much you can spend.
@JogBird
10 ай бұрын
yea, but why do we need the penny or nickel or paper dollars
@alkjhsdfg
10 ай бұрын
You can also set daily/weekly spending limits and/or alerts for cards to avoid overspending, it's just as effective and saves you a trip to the ATM.
@Hans-gb4mv
10 ай бұрын
I can count on my fingers the amount of payments I made in cash in the last year, and yet I have no problem with being aware of how much I spend. Even with cash, it is not that obvious because by the time you run out, you just go and get more from an ATM. It takes effort to track your expenses, even more so with cash as you don't leave a paper trail behind.
@dimitarmargaritov
10 ай бұрын
Actually to me card payments are easier because I track most of the transactions, dont have to deal with swapping change money at the cashier, dont have to carry much money in cash if I need to purchase something relatively big etc.
@rocky965able
10 ай бұрын
@@davidlightman9551 what are those reasons? Cash is easier to manage from my perspective, you carry how much you want to spend.
@HaedenBeck
10 ай бұрын
Coins are almost useless now because for a long time you could buy something like a candy bar or a gallon of gas for 25 or 30 cents but now you can't buy anything with less than a dollar plus tax. So whenever I get coins back as change they just collect in a cup holder or a jar until they get to a coinstar and are exchanged for whole dollars.
@kenmore01
10 ай бұрын
Roll them up yourself and bring them to a bank. It's a lot cheaper than coinstar.
@koshakuguides9863
10 ай бұрын
I like coins. They come in handy when I'm broke and just want a soda lmao
@paul9299
10 ай бұрын
How old are you? The last time gas was 25-30 cents was right after wwII so for you comment to make any sense you would have to be close to 100 years old 🤣 But yeah, the dollar has terrible spending power today even adjusted for inflation
@johnd8167
10 ай бұрын
@@paul9299actually, there was gas at some places still as low as 29 cents/gallon in the early 1970s.
@d4z_l20svaQ12
10 ай бұрын
@@kenmore01 You don't need to roll them up. Go to the bank's main office and they often have a free "coinstar" machine
@DavidGomez68-dh
10 ай бұрын
I started trading Bitcoin months ago, I have already made over $250,000. I wish I knew this sooner, I would have been a millionaire.
@Adriana-wc7ko
10 ай бұрын
I am new to currency trades and have lost a few times by trying to do it myself, but I see people win from it, can you give me a new strategy on how to earn?
@DavidGomez68-dh
10 ай бұрын
I have been trading cryptocurrency for the past few months but never felt like I had the advantage of the traders that I kept hearing about in terms of consistent result and an exact plan to work with, but that all changed when I contacted Mr. Derrick Alan Sands and my win rate catapulted
@DavidGomez68-dh
10 ай бұрын
When I look at venturing into any form of educational program, I always ask myself if it's easy, does it work, and most importantly, can I do it? but coming into contact with this man Derrick changed my way of thinking I was really skeptical initially but decided to give him a try and He really proved himself.
@Adriana-wc7ko
10 ай бұрын
What then does he stand to gain in trading for people?
@DavidGomez68-dh
10 ай бұрын
He charges 30% commission on the profits made after each trading session.
@zerokool-2058
10 ай бұрын
Physical currency will always be needed to some degree. Is nice to use digital for simple things at times. But I enjoy using cash.
@TangledThorns
10 ай бұрын
Nailed it about using cash for a hair cut as small businesses are hit with credit card fees so cash is preferable for them.
@rizzle187187
10 ай бұрын
This actually is compensated for most part in small shops in Europe with a small 0.25cent fee for using card.
@alexjones7845
10 ай бұрын
@@rizzle187187 Credit card fees in the use are much higher than that, usually 2 to 3% of the sale and sometimes also a per transaction fee
@priyanksaklani8176
10 ай бұрын
In India no transaction fee for small and medium enterprises if they use UPI for digital transactions. This lowers the barriers for money circulation in the economy. Digital infrastructure is as important as physical infrastructure.
@ytzpilot
10 ай бұрын
I have a hair salon and do not charge those fees, but obviously the price I charge covers all of our costs for doing business or we would be out of business, therefore if a business is charging you that fee that is called transparency, if you don’t see that fee it is a hidden cost. I choose to absorb all those costs and any other costs in the services we charge therefore they all become hidden costs
@RUHappyATM
10 ай бұрын
@@ytzpilot At least you are being honest about ACTUALLY charging the fees, just not declaring it to the customers.
@mjg239
8 ай бұрын
I see NO PROBLEM with cash. You can basically go off the radar when you use cash and pay with cash. It's not "tied to your name" and governments can't just SEIZE IT or GARNISH IT if it's not sitting in a bank account, and companies/corporations can't trace your "spending habits" by seeing what you're buying and what you're doing with it. Free societies STILL need cash. The only thing "wrong" with cash is when it's NOT SITTING IN A BANK ACCOUNT in the eyes of corporations and the government, this is not ideal since they want to fully MONITOR your money and see what you're doing with it, HOW MUCH you HAVE of it and not to mention TAX it[!!!]
@mattbowdenuh
10 ай бұрын
I use both cash and card for everyday purchases. And there's some I don't trust with a card so I pay cash, like gas station pumps and restaurants. But I also use personal checks for bills that change every cycle or the big ones (utilities, mortgage, etc) and auto-draft for bills that don't change (cell phone, auto insurance, etc). So I'm a mix of everything.
@dennisenright9347
8 ай бұрын
I always found that there was a definite difference in my own willingness to spend money based on whether I was paying with my card or having to hand over cash. I was far more willing to spend when I used a credit card. I held on to my money harder than an arthritic lobster when i had to pay with cash. When Canada introduced the one dollar coin back in the eighties, the industry that objected the most was operators of vending machines, who complained constantly about the cost of modifications to their equipment. They suffered a forty-five percent INCREASE in sales in the first year. They didn't complain much when the 2 dollar coin was introduced, and they saw another big increase in business.
@ninjanerdstudent6937
10 ай бұрын
If the dollar bill is phased out, the $5 will become the most popular to use. People will just keep all their coins in a jar, convert it into bills at the bank, and never really spend it. Also, coins are heavy to lug around, so people won't do it. When I travel in Europe, I hate lugging around a pouch of coins, and the euro coins molded in different nations look different, and it is harder to identify them at a glance. Higher notes also promote the idea of inflation. For instance, if the $5 note becomes the smallest traded bill, that helps to promote the idea that the cheapest things to purchase in society should be $5.
@Sashazur
10 ай бұрын
The euro coins do look different, but it’s like US quarters (25 cent coins) looking different - even though the engraving varies the coin is always the same size, color, thickness and weight. I don’t have trouble telling them apart.
@ninjanerdstudent6937
10 ай бұрын
@@Sashazur Those were collectables just like the past 50 cent and 1 dollar coins.
@ninjanerdstudent6937
10 ай бұрын
@@Sashazur Heads looked the same. Only tails looked different.
@MegaLokopo
5 ай бұрын
Cash will always be necessary to maintain your freedom. You never know when the government is going to freeze your bank account for something you donated to.
@wakeupamerica2024
10 ай бұрын
The only problem with cash is that it threatens government overreach. It cant be tracked so they dont know what you are buying.
@wakeupamerica2024
6 ай бұрын
@donk8105 modern monetary theory means money printing turned partially digital. They are lending money that doesn't exist and creating more by moving decimals in a computer. Cash is still a threat to modern monetary theory because you can go to a bank to collect on your account and if everyone did it there would be another depression.
@32Jarrod
5 ай бұрын
and they can't hit a switch and prevent you from buying what they don't want you to buy.
@cydrych
10 ай бұрын
Look what happened in Canada. Never rely on digital currency.
@1805movie
5 ай бұрын
It's important to keep cash on hand in case you're low on funds. Plus, it feels more tangible and manageable.
@andreafuenzalida9766
5 ай бұрын
yes or in case for some reason your account gets frozen like if a fraud is detected and you have to pay a bill that’s due.
@mel-ann
9 ай бұрын
I love using cash. Why fix something that isn't broken. Using cards all the time is just making Visa, Mastercard, Discover, American Express, etc. all the more richer than they already are and to no benefit to a consumer like me.
@johnbrown7911
10 ай бұрын
Essentially I believe it comes down to options which means control ultimately. To have and use many options is ideal but once you only have one you really have zero. Two options isnt much better. Minimum three. Self custody physical assets is what they want to do away with. Private, secure, and the most reliable. Digital is fast, convenient and far reaching. Physical: coins, jewelry, watches, cash. Digital: crypto, bank/market accounts
@sionbarzad5371
10 ай бұрын
""crypto'' rofl
@johnbrown7911
10 ай бұрын
@@sionbarzad5371 it's only for smart people, you wouldn't be interested.
@JohnWarner-lu8rq
10 ай бұрын
@@sionbarzad5371 I made seven figures on a $2000 Bitcoin investment. SUX2BU
@JohnWarner-lu8rq
10 ай бұрын
Gold, Silver, Palladium.... hard currencies. I have one card and rarely use it; maybe twice a month, if that.
@upinsmoke2897
10 ай бұрын
Anyone who has ever been in a jam or a rush knows the power of cash. Paying with cash tends to get you bumped to the front of the line if the business accepts it.
@bwofficial1776
10 ай бұрын
A $100 bill talks pretty loudly when you really need something, sometimes even more so than five $20s.
@nsbioy
10 ай бұрын
@@bwofficial1776 A lot of businesses do not accept $100 bills
@takecare5077
10 ай бұрын
@@nsbioy Also a lot of business take cash only too.
@kaohsiung99
3 ай бұрын
@@bwofficial1776 Yes!
@57054
7 ай бұрын
Younger generations rely too much on cell phone payment apps. Eventually there won't be justification for FED to continue printing physical notes. By then, privacy will be gone and the youngest generations will regret not using cash.
@jantube358
10 ай бұрын
The $100 bill will always be a $100 bill. In digital payments, the $100 become less with every transaction fee.
@doujinflip
5 ай бұрын
The manual labor processing and safeguarding that $100 also makes it worth less to the seller. Unless you're a wage thief.
@nobodynever7884
10 ай бұрын
If an establishment goes cashless around where I live, I simply stop going to said establishment. Never went back to Bartaco for that reason.
@abhayrajmaurya8683
10 ай бұрын
Opposite is happening in india ie. If a store is only cash , people are avoiding it . No digital payment less customer
@That-Guy_
10 ай бұрын
And if all the stores go cashless what will you do about food...?
@MementoMori_2070
10 ай бұрын
Ok boomer
@MarquosXoloVanda
10 ай бұрын
@@That-Guy_barter
@That-Guy_
10 ай бұрын
@@MarquosXoloVanda Good luck with that
@isabellaflorentina7574
10 ай бұрын
I use cash everyday and I will always use cash.
@nsbioy
10 ай бұрын
That’s good, but unfortunately, you can’t use cash for everything anymore. If you live in a forest and do not travel anywhere, then cash only is possible. Otherwise, cash only won’t get you far.
@yakovbrod9992
10 ай бұрын
@@nsbioy I'm not sure what there is you can't buy with cash other than stuff on the internet.... even then, if you count money orders then you usually still can.
@nsbioy
10 ай бұрын
@@yakovbrod9992 Cash-only is technically possible for most cases, but it is inconvenient and requires extra effort. Online shopping - possible to buy burner cards for cash, but it is expensive and inconvenient. Buying plane tickets - terrible. Renting a car - almost impossible and, if possible, may be more expensive than with a card. Some businesses no longer accept cash (I disagree with that, but it is what it is). We went to London recently, and at a street market the vendor would accept only card/phone payments, but won't accept cash. Money orders or cashier's checks are technically possible, but they also cost money and are very inconvenient, too.
@leoramirez3146
10 ай бұрын
Cash is a great tool dont fix it if is not broken
@jonas90.
10 ай бұрын
US Government spend a Billion dollars per year with just the production of notes and you think it isn't broken? You completely missed the point of video.
@4umy
10 ай бұрын
@@jonas90. Cash is necessary for a free society. So be it coins or cash we can't go all digital
@whodarboilebamnames3990
10 ай бұрын
@@jonas90.That's less than $3 per American. The utility and protection cash provides is worth way more than that. Also using US cash is popular around the world, getting rid of cash would reduce the value of the USD as well. It's a lose lose.
@MementoMori_2070
10 ай бұрын
It may not be broken, but it’s dirty. Many hands touch it 👋, it’s probably been in a strippers butt cheek: and stashed away in someone’s underwear or bra. 😅😅. I’m good with digital
@leovanorden4243
4 ай бұрын
The $500 and $1,000 bills should be brought back to encourage the use of cash for various higher $ amount transactions. Would need to change the presidents from McKinley and Cleveland.
@karenrich9092
5 ай бұрын
All of our bills state they are for debts, public and private. So, cash needs to be accepted. That doesn't mean large bills need to be accepted.
@lavalamp6410
10 ай бұрын
New Zealand got rid of its 1 cent, 2 cent, 5 cent and 10 cent coins and totally redesigned its other coins making them smaller and lighter. It also has polymer bank notes which are much better than the old paper notes, you don't have to worry about them disintegrating if they go through a few wash cycles. The polymer bank note was invented in Australia and they hold the patent on them which is probably the reason for American reluctance in adopting that tech upgrade. But as someone who used paper bank notes half my life and then the new polymer, the polymer is superior to paper banknotes
@andidede3653
10 ай бұрын
All of our government systems in the US are outdated. From government offices to local state offices, everything is outdated and uses old tech. They can barely accept a document upload 😅
@RebeccaHargate
10 ай бұрын
Australia had moved away from 1 cent coins when I was there in 1995. I love polymer notes where I see them.
@RUHappyATM
10 ай бұрын
Like, what can a NZ 10c buy nowadays?
@nathanapplegate5374
10 ай бұрын
Polymer notes aren’t better than paper. Ask the Canadians about how crinkled and unusable they get.
@RUHappyATM
10 ай бұрын
@@nathanapplegate5374 Maybe they can withstand the rigors of the lumberjacks!
@pbreedu
10 ай бұрын
The US dollar is the world's most trusted brand. Be cautious about making changes to this iconic currency.
@doujinflip
5 ай бұрын
The dollars the rest of the world uses are $100 bills or digital.
@jdzajdza
10 ай бұрын
Cash is King. Period
@freddyfriend5462
10 ай бұрын
the king
@LivaHolst
10 ай бұрын
Have you heard about the unemployment applications surging recently? It's becoming a real concern.
@LarsBergstrom-uh2eu
10 ай бұрын
Yes, it's alarming. Many people are struggling to find work. I hope there's a solution soon.
@tommychestnut5335
10 ай бұрын
Provide financial planning services to help individuals manage their finances during unemployment and plan for the future. `
@johnkeviljr9625
2 ай бұрын
The USA needs to keep using cash. These youth don’t realize that the electronic money can be Erased, confiscated etc. Someone else will control your cash. Not good.
@PhantomMagician1846
Ай бұрын
twice I have seen "system failures" in stores where electronic means of payment couldn't be accepted. I had cash on me so I was able to get food.
@benr7294
10 ай бұрын
Hey glad you guys could do a whole psyop for the cbdc coming out. If people only understood how much money disappears in fees to the merchant in every step.
@rednekokie
4 ай бұрын
I can remember when here in Oklahoma, we had one and five mil coins, which were used to pay the 2% sales tax. That was before the law allowed rounding off the tax charge. It was quite a while ago (I am 88) but I remember the little box at Woolworth's and McClellans attached to their cash registers where the mil coins were deposited.
@byronchavarria4954
10 ай бұрын
We Need $500 Bills And $1000 Bills
@SoraFan23
10 ай бұрын
To right!
@ssam168
10 ай бұрын
For money laundry ?😂
@andrewwayne777
10 ай бұрын
So its easier for us to get it taken away at the airport or a traffic stop? I'm with you especially when buying cars or expensive equipment but you know some busy body county or state DEA is going to try to force a civil forfeiture of that much cash.
@Ziegfried82
10 ай бұрын
1 gold coin is $1800-$2000. Need a $2000 coin honestly.
@Ziegfried82
10 ай бұрын
@@andrewwayne777 people need to learn how to report their cash when they are moving $10,000+ across State lines. It's not going to get taken if you follow the law.
@vulpsturm
10 ай бұрын
"What's wrong with US Cash?" "Government can't turn it off or monitor every cent" "Here's why our propaganda department is telling you this is a bad thing"
@philipmehl9355
8 ай бұрын
Cash = Freedom. Keep it around forever
@okhotrodder
10 ай бұрын
There's good and bad on both. I for one prefer cash. People say you're trying to avoid being tracked. Ah, why would anyone want to be tracked constantly by a big brother? I hate that to spend money digitally, you have to pay a fee, which takes more of your money. Kids these days don't understand that every penny counts. I've sat my own kids down and added up receipts and charges to use their cards. When my older son had $2k in fees, he told me he could've paid off his loan for that. I said yep, and you didn't only because you were lazy and didn't use cash. And who got that money? The same place you pay to charge you. Just ridiculous. It's a big scam to go digital. It's fine for paying your electric bill or utilities but for everyday transactions we need to stick with cash.
@christopher9727
10 ай бұрын
God created the world in six days He can also save you from hell and have a personal relationship with him today He can give you his Holy Spirit to guide and teach and comfort you today Romans 6:23 For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord. Come to Jesus Christ today Jesus Christ is only way to heaven Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void Heaven and hell is real cone to the loving savior today Today is the day of salvation tomorrow might be to late come to the loving savior today John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God. Mark 1.15 15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel. 2 Peter 3:9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance. Hebrews 11:6 6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him. Jesus
@heronimousbrapson863
10 ай бұрын
Here in Canada, the transaction fee for debit and credit cards are, in most cases, absorbed by the vendor and not passed on to the customer.
@torbjornlago7936
10 ай бұрын
@@heronimousbrapson863 ”not passed on to the customer” Who do you think pays in the end? Do you really belive they will lower theirs profit margins?
@torbjornlago7936
10 ай бұрын
@@weird-guy ”banks beer the charges” in the end the bank-costumers will be the one paying for it, or do you think banks are charities? Small business can’t get a deal with so low fees, But you digital huggers will be happy in the future when there is only Amazon left and the government control everything like CCP.
@okhotrodder
10 ай бұрын
3% is pretty high to do nothing. So you wouldn't care if you got charged 600 for a $20k purchase? Sounds like you're not in the US. Most banks here charge $6-12 a month for checking accounts. Every atm charges a fee if it's not your bank atm. Then your bank charges a fee for using it also. So, at a minimum, most people are paying around $5 per transaction, no matter if they withdraw 5 bucks or 500. So a $5 withdraw becomes a $10 withdraw. That's a 100% fee. But for some odd reason, people don't care... Using cash apps charges the receiving party a fee for every single transfer. I don't know of any that are free. My city doesn't allow cash payments anymore. But when you pay online, they charge a convenience fee, an online fee, on top of a transaction fee just to pay your bill. So paying your water bill and trash service gets a fee. I get charged the same type of fees to add money to my kids' lunch money accounts. Everything the school does online charges a fee to do it. Everything has fees, and if you actually stop and add them up, it equals a ton of money just going out the door. Nothing is wrong with cash. It's a perfect form of value everyone can benefit from.
@vroomgc
10 ай бұрын
Another thing that wasnt mentioned is that in Canada they eliminated the penny and now transactions are rounded up or down the the nearest nickle. There is another savings that could be done in the US. I hate all the stupid pennies that are still being passed around.
@aschaible04
10 ай бұрын
I do too, pennies are terrible, when people complain about coins they are mostly complaining about pennies because they are so hard to spend and they just accumulate in your pocket or purse until you take time out of your day to roll them up and deposit at the bank, or dump them in a Coinstar, or even throw them in the trash (yes I know people who do this). Also they cost the government money, it costs almost 3 cents to mint a penny. The problem right now is the zinc lobby, pennies are mostly made out of zinc metal and the government is a huge customer of theirs, they will need to get bought off, right now they keep lobbying Congress to squash any legislation eliminating the penny. They always come up with some dumb survey about how everyone loves the penny and it's all total BS, I never met anyone in my life who uses pennies as money outside of pranks or insults. We probably need Congress to give the zinc lobby some sort of defense contract for zinc ammunition or armor plating alloys to make them go away once and for all
@belatoth1446
9 ай бұрын
Agree! eliminate the pennies, they are useless. Add to this, eliminate the .9 cents when buying gasoline.
@topcomment3816
10 ай бұрын
*”And we would like to give a special thanks to the Internal Revenue Service for sponsoring this video”*
@takatsu5
10 ай бұрын
I like cash as a way of controlling spending. In spite of our utilities, etc. being on cards, our grocery money is cash.
@AndrewFaust-x1e
9 ай бұрын
Cash needs to stick around. It will massively help with the government not tracking you, not being able to take it from you, and if electricity goes out, you'll still have some sweet bills to help you out.
@mannys9130
10 ай бұрын
We DO have dollar coins. In fact, we have a bunch of them with the most serious attempts going back to the Susan B. Anthony dollars. Those were a failure because they were so close in size and appearance and weight to the quarter that people confused them CONSTANTLY. I have to stock a vending machine that gives dollar coins as change. You won't believe how many people get angry saying "It gave me quarters instead of dollars! I'm missing 3 bucks now!" 🙄 I say "Please look very closely at those 'quarters' and see if they are actually SBA dollar coins." They are. Plus, dollar coins are heavy. To have $10 in paper is light and fits well in a wallet. 10 $1 coins are heavy and noisy. We've been pushing SBAs since 1979, and then Sacagawea dollars since either 1999 or 2000, and then the Presidential series since the mid to late 2000s, and now the American Innovation series since (I believe) the early 2020s. If we made the coins very small like a dime or made them out of aluminum or something that was very lightweight, MAYBE they would survive and gain popularity.
@cuttysark7796
10 ай бұрын
The American Innovation $1 coin series was created for purchase as a collectible. Newly minted American Innovation $1 coins are sold by the U.S. Mint, the banks would have to accept them as U.S. legal tender, but they don't separate or roll them for sale to bank customers.
@aschaible04
10 ай бұрын
The Susan B. Anthony coins were pretty bad but the 21st century brass dollar coin (Sacagawea/Presidents) is actually a good improvement, besides the color change, with the flat edge it's easy to tell the difference by feel. The real reason the $1 coin keeps failing is the $1 bill, it needs to be retired and replaced with a few billion $2 bills (to take its place in the cash drawer and also make the paper lobby shut up). To make room in the cash drawer for $1 coins we retire pennies, they are not only irrelevant as circulating money they cost taxpayers $150 million dollars each year because of how expensive they are to mint. The zinc lobby (pennies are mostly zinc) will still need to be bought off somehow, maybe some defense contracts for zinc based ammunition or armor plating alloys will do the trick
@mannys9130
7 ай бұрын
@@cuttysark7796 Are you positive? I've seen several business strikes in rolled coins that are not deep or frosted or high gloss proofs/collectible strikes.
@mannys9130
7 ай бұрын
@@aschaible04 I agree, the bronze dollars are a big improvement. The $1 bill is so prolific though that it would take decades to get rid of them all. I saw a news piece years ago where Africans used $1 bills and they got so filthy that there were small businesses created solely to wash them so they didn't stink anymore. Perhaps if the dollar coins were made with a zinc brass alloy the zinc industry would not feel as upset about losing the penny market. I do agree that the penny needs to go away entirely. We can round to the nearest nickel.
@nunyadambusiness3530
10 ай бұрын
Only issue with Digital it is the fact that if the power goes down, permanently, everything will be inaccessible. Plus I am on a fixed income, and 6 years ago I had my identity stolen and I am still paying for that unfortunately, and can't open a regular bank account. I have to cash my SSDI Checks at a check cashing store, it sucks, and I've likely spend well over thousands of dollars in fees just to have it over the last 6 years. Cash is till King to those who are Low-Income, and Under-banked individuals like myself.
@kingofhearts3185
10 ай бұрын
If the network went down cash is done for too, do you have any idea what that would look like? That's how you get mad max or fallout.
@bwofficial1776
10 ай бұрын
@@kingofhearts3185 Not everything needs to be on the network. The cash-only orchard by me sets up a cash register in a field run off a car battery and an inverter. The trend of connecting cash registers to the internet is a fairly recent invention but cash registers have been around for centuries.
@faustinpippin9208
10 ай бұрын
@@kingofhearts3185 bs.... where i live power is out all the time and you can still buy stuff thanks to cash meanwhile all the "zoomers" ask around for cash while being hungry....
@nunyadambusiness3530
10 ай бұрын
If the system goes down, the only people who are effed are those who had all their cash in the bank, and had no ammunition and resources. Sounds like you aren't prepared. Even in apocalyptic world, cash will still be king. How else do you think it's been working the last THOUSANDS of years... Use your brain youngin'@@kingofhearts3185
@nunyadambusiness3530
10 ай бұрын
I assure you, my grandkids, who are "Zoomers" are not asking around for cash. And neither are their friends, I just asked her. Now, when digital payment cease to exist, then they will be scrambling for change haha. I've noticed more "Zoomers" buying homes & cars than the "Avocado Toast Millennial generation."@@faustinpippin9208
@drewmqn
8 ай бұрын
The US discontinued the half cent when it's value fell below what is about the value of a modern quarter today. I think we should discontinue the penny and nickel and round all prices to the nearest 10¢
@heronimousbrapson863
10 ай бұрын
Canada's $1.00 coin (commonly called the "looney") has had some problems in vending machines. A few years ago, the royal Canadian mint introduced a new dollar coin with an anti-counterfeiting feature. Some vending machines, which easily accepted the older coins, couldn't recognize the new ones and rejected them.
@rick_terscale1111
10 ай бұрын
In Australia, all vending machines are coinless now. You have to use a card or Apple/Android pay etc. The same with parking meters. No coins, no cash, and no tickets printed either for outdoor parking areas. You have to enter your vehicle registration number instead and prepay using card etc.
@Ausf
10 ай бұрын
When a new coin is introduced, obviously old machines need to be updated to recognize them.
@RUHappyATM
10 ай бұрын
@@rick_terscale1111 I think that's to save the vendors time in taking the coins to the bank.
@tsubadaikhan6332
10 ай бұрын
@@rick_terscale1111 The strange part is here in Australia, we've just happily and willingly walked into the cashless world. It's just so much easier. One arm of my business is retailing directly to the public. Ten or twelve years ago it was annoying that people who offered me cash just expected to get goods without any Sales Tax. I did used to negotiate, because cash saved me trips to the bank, and had its uses, but now I hardly ever get the offer. If someone asks Staff members for a cash discount, all the young ones panic, and find their manager. It's not even a concept young kids understand. It's great for the Tax Man though. And for me? Life is less complicated, I know exactly where stock is, and how much there should be, and barely need my accountant. 20 years ago, I'd barely have got by without cash on the side. It's weird.
@heronimousbrapson863
10 ай бұрын
@@Ausf It apparently cost the Toronto parking authority about $1,000,000 to upgrade their parking meters at the time. The new loonies were made using a multi-ply steel technology that made them cheaper to produce.
@Bowl0noodles2024
5 ай бұрын
The problem with cash is law enforcement trying to make it illegal to carry and use cash. I trust cash over credit which I don’t have the money in the bank for.
@RM-dr8sj
5 ай бұрын
Physical cash should always remain in some capacity. As far as coins: they should go. If we keep any coin, it should be quarters. Outside of that, all other coins are useless. I never accept coins change because it will get lost. I am not going to wait around to ensure I have enough to deposit them in the bank. I end up saving more money with digital currency because I will loose the loose change or give it to the store since I don’t want coins.
@mintman325
5 ай бұрын
THANK YOU. Finally people are seeing it my way.
@trumpshare
10 ай бұрын
Funny but my teenage daughter finds the "pain" aspect of using her debit card and watching her balance shrink more painful than paying cash and tends to more easily spend with cash where I'm(Gen X) just the opposite. Just a generational thing.
@ywtcc
10 ай бұрын
Ditch the penny entirely before any other changes. Everything can be rounded to the nearest nickel. Maybe polymer dollar bills would be a compromise position. People prefer bills to coin, in general. Coin is harder to handle and organize. The funny thing with coin is there's an algorithm so that you never need more than 3 quarters, 2 dimes, 1 nickel and 4 pennies on you at one time. The problem is people (cashiers and customers) optimize for speed or effort rather than to minimize coin usage. In theory, you could have some kind of card+token system so that the card only fits 3 quarters, 2 dimes and 1 nickel. (Don't need pennies.) Then, you could just hand your coin card to the cashier and force them to figure it out! LOL!
@takecare5077
10 ай бұрын
And it is the total that is rounded. Still can price to the penny or in case of gas stations to nine tenths of a penny ($3.979). I'd say make in tandem (1) get rid of the penny, (2) replace (or shift that) spot that with the dollar coin in a typical drawer, (3) stop making the dollar note, the two could replace that the in the drawer.
@crypto_que
10 ай бұрын
The level of honesty about US Cash being the NUMBER ONE currency used for money laundering tax evasion and anonymous transactions was mind blowing.
@8platypus
10 ай бұрын
pretty soon dollar bills will be as useful as pennys are today.
@jmister6824
10 ай бұрын
Lets hope not... but I fear this is correct. People better learn about ways to hedge their wealth from inflation, like putting it in gold
@ianandersen265
Ай бұрын
Businesses are rebelling against digital by charging fees to use debit and credit. Also, I switched over to cash more often, not just because of tyranny and tracking, but because I got my identity stolen twice. Meanwhile, my grandfather, who always uses cash, never experienced identity theft. 50 cent coins are bulky and can only be used at kiosks or in person. $2 bills are not always accepted in vending machines.
@ShamileII
10 ай бұрын
Even though I only do electronic transactions ( cash back credit card) I like the fact that we still have cash....and the old fashioned uniform green ink paper bills. When I hold a US paper dollar, it feels right and American.
@MementoMori_2070
10 ай бұрын
Cash is cool, but like you I prefer Electronic. It’s where the world of transactions is headed I think. And digital is very convenient
@dianejones1413
9 ай бұрын
How these 'cashless' kids 1. tip people that deliver their pizzas?( and before you say add it to the bill, you want to give it PERSONALLY to the person)? 2. You give someone you love CASH as a gift? if you are only all digital?
@NotThatGuy_YepThatGuy
10 ай бұрын
Cash should never go away fully. Makes it way too hard to get involved in illicit activities.
@pw4780
5 ай бұрын
US government should cancel the $100 note and give owners 1 month to return them to US banks. Boom!
@johnsbirthdayinapril4197
10 ай бұрын
As an American living overseas in country with a $1 equivalent coin. I don’t want to see the dollar in coin form, coins are a pain, they don’t fit in wallets, and they fill up your pockets.
@Ziegfried82
10 ай бұрын
Coins are the best. Most people have no idea how much money they have, or how much they are spending. They just swipe those plastic cards. Suckers deserve what they get.
@aschaible04
10 ай бұрын
When you say "coins fill up your pockets" you are talking about the penny, it's easy to spend other coins, but pennies are basically scrap metal. If we got rid of pennies and brought back dollar coins we would actually have fewer coins in our pockets because we would be able to spend them all again.
@johnsbirthdayinapril4197
10 ай бұрын
@@aschaible04 Agreed, pennies feel pretty worthless. But no I am not talking about pennies. The problem with coins is there is no good way to transport them (at least for me). They quickly fill up your pockets, if you need one, you have to dig past your phone, wallet, or keys, looking for the right one. Where as paper money in wallet, takes seconds to pull out the right bills. $1 dollar coins only add to this problem.
@tayjones8552
10 ай бұрын
I don't want to carry a pocket full of coins, it gets heavy.
@Ziegfried82
10 ай бұрын
Only gets heavy if the coins don't have high enough denominations. A gold coin for example can be worth around $1800-2000 USD. Governments are just stupid.
@barcelona909
10 ай бұрын
Some of us don't like having a big fat wallet full of singles.
@aschaible04
10 ай бұрын
The coins making your pockets heavy are all the pennies, because you don't have anywhere to spend them. Replace the penny with a coin you can actually spend (like a reintroduced dollar coin), and you will find yourself with lighter pockets because you can spend all your coins again
@soulahousefm4153
5 ай бұрын
THEY WANT TO FULLY ENSLAVE YOU WITH A CBDC !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
@JEEDUHCHRI
10 ай бұрын
They want to know every little thing you do.
@Tpavra
10 ай бұрын
Who does?
@JEEDUHCHRI
10 ай бұрын
The owners.
@Tpavra
10 ай бұрын
@@JEEDUHCHRI lol alright then :')
@dioniciotorres4290
8 ай бұрын
I was a grocery store manager back in the late 80's early 90's. Atm cards only worked at the banks atm. Every transaction was check or cash. 😮😮 The store has soooo many bad checks it had to collect themselves.
@InternetBuyz1
10 ай бұрын
I'm always ahead of the curve, use AI daily, use cashless payments sometimes, but it's dumb to go full digital involving cash. It's not as flexible...
@MementoMori_2070
10 ай бұрын
True in some cases but I’ve been cashless since 2019. I keep my debit card with me just in case places don’t accept Apple Pay. But paychecks, Lending/borrowing and ordering is done via digital for me.
@trekuhl3966
10 ай бұрын
I use cash 90% of the time, I always have cash on me and prefer larger $100 and $50 bills. It’s an anonymous transaction. Having been to Europe, I like coins for $5 and less.
@darrenleejones3516
10 ай бұрын
Me too , keep doing it and encourage other to do also
@PHlophe
10 ай бұрын
Finally. for me cash easy 90% of the time and as a matter of fact i carry $100 with me at all time. folk think i am corny but when we need a cab or the automats are broken or close to public use . everyone turns to me . cash , always cash and forever cash . someone should pry the notes off off my hands .
@thomasmanning829
7 ай бұрын
The Philippines has also moved to a 1,000p polymer note.
@adminadmin4857
10 ай бұрын
There is no problem with cash, they just want to track you.
@faustinpippin9208
10 ай бұрын
no, they want to make it the only option so then they can control you for example: turning of your account when you dont inject yourself with a experimental drug
@bluesdoggg
5 ай бұрын
Being cashless in the US for me can be annoying because more and more card transactions pressure the consumer to tip for a simple over the counter transaction that should never have an expectation of a tip.
@yakovbrod9992
10 ай бұрын
I'm all for making coins for bills. But how about we never get rid of cash because cash is how we avoid dystopic?
@4umy
10 ай бұрын
Underrated comment. Needs more thumbs up
@kingofhearts3185
10 ай бұрын
If the government wanted to something dystopic, they can, even if you only have cash. They would just use regulations to force compliance. If you live far enough into the countryside where they genuinely can't enforce them, you'd just use a barter system. This argument assumes that level of malice wouldn't come with the competence to enforce it, and the US government can definately enforce.
@darrenleejones3516
10 ай бұрын
@@kingofhearts3185governments are losing control don’t think otherwise
@bwofficial1776
10 ай бұрын
@@kingofhearts3185 That's when we start revoking the government's permission to rule. Mass noncompliance is first, followed by government agents disappearing. One of my favorite fiction books is Unintended Consequences by John Ross. A bunch of gun owners get fed up with the ATF's heavy-handedness and start picking off agents one by one. Eventually other people hear about the movement and it spreads to picking off EPA, FAA, and other government agents as they're going about their days. Losses become so high and there's no central leadership to take out so the government has no choice but to capitulate and back off on their policies and laws. The book was written in the 1990s and technology has come a long way but the spirit is unchanged. If we the people decide to remind the government who it works for, the government workers will have to choose where their loyalties and self-preservation lies.
@eatpigsnot
10 ай бұрын
the best economic system is a resource based economy, a la Jacques Fresco and The Venus Project
@ArchyDolder
10 ай бұрын
This is an interesting report, but it is curious that a major element of the story is missing, namely that beyond materials, ink, eitc, U.S. currency is the only currency on the planet that is sized and dyed uniformly across all denominations.
@kevintao3973
10 ай бұрын
When I visited NYC in february (I'm from Canada), My dad accidentially paid $1 instead of $100 to the taxi driver! It's a good thing that the driver was nice and simply told him to give him the right denomination.
@ollac3758
10 ай бұрын
Mexican cartels agrees with this
@reginaldsmith6949
10 ай бұрын
@ArchyDolder "This is an interesting report, but it is curious that a major element of the story is missing, namely that beyond materials, ink, eitc, U.S. currency is the only currency on the planet that is sized and dyed uniformly across all denominations." This conversation is non-denominational...
@maderastuff
10 ай бұрын
@Joe-sg9ll guessing he's implying its easier to forge? Idk just a guess. Does seem a bit random if that's not what he meant
@ArchyDolder
10 ай бұрын
@@reginaldsmith6949 Hilarious! Excellent!
@colleenmarin8907
6 ай бұрын
I use cash for tipping, at cash-only locations, places that charge more for using a card, and quarters for the laundromat. I also keep some cash around for vending machines and parking
@bakerkawesa
10 ай бұрын
Cash is private, reliable, and cheap. We need to fight for it.
@InspiredByBrad
10 ай бұрын
Visa and MC often take 3% of each transaction, so what would have been a $50 cash bill changing hands 50 times is now eroded to just $11 in circulation and the other $39 stolen by transaction fees. Totally erosive, insidious, and unfair to society.
@steverempel8584
5 ай бұрын
Physical cash is a great idea. I'm in Canada, and all I want to see is several denominations of cash removed. If we had 25c and $1 in coins, then $5 $20 and $100 in bills, the system would be great. The $100 bill should replace our $50 bill, and the $5 note could be replaced with a $5 coin too at this point. 25c today is worth less than 1c back in the 30s, so no denomination less than that is needed.
@cai0
10 ай бұрын
I live in Australia, and haven't used cash in the last 3-4 years, and I believe this to be the case for virtually everyone in the big cities (not sure about regional areas). I was very surprised about this video and especially the comments section. I had no idea so many people still liked cash this much. Having said that, 4% transaction fees is just ridiculous. We usually don't have that, and when we do, it's less than 1% (except Amex).
@doujinflip
10 ай бұрын
America's higher fees pay for the higher cash back and rewards points rates that encourage people to use that specific card. Considering all the loud cash-only conservatives, cashless payments would drop off substantially without all those businesses nationwide effectively investing in their digital payments network, which already happened with debit cards when those rates got regulated.
@PHlophe
10 ай бұрын
I am gonna be in the Alice Springs part of AU. I dont think its all digitized there. Now this got me thinking.. how do you guys call the citizens of Alice springs. The springers ?
@takecare5077
10 ай бұрын
How did you fair during the Optus outage if you have them?
@michaelwescott8064
8 күн бұрын
They tried dollar coins in the 00s too, but all we did was order them online, then turn them into the bank and get frequent flyer miles.
@DavidM2002
10 ай бұрын
Start by getting rid of the copper pennies. We did that in Canada years ago and nobody misses them. Non-cash transactions are still shown to the penny. And, our $1 and $2 coins are generally far preferred to the old paper bills. I believe that in India, as part of their move to cashless transactions, they called in their high denomination bills which made all of the cash hoards, often held by criminals, come back into the light of day. The UK also called in all of their old notes last year and produced smaller polymer notes.
@raymondseberry7725
10 ай бұрын
That's Canada!
@sexygeek8996
10 ай бұрын
The U.S. got rid of copper pennies in 1982. Since then, they have been copper-plated zinc. I get your point that we should just get rid of pennies altogether. $1 and $2 coins became prevalent in Canada because they stopped printing the bills when the coins were introduced.
@walterwhite1
10 ай бұрын
Dude, we got rid of copper pennies 40 years ago read a, history, book you, Canadian clown 🤡
@stellamarina4123
10 ай бұрын
New Zealand got rid of their one cent coins too. Priceses are rounded up to nearest 5 cents.
@alphaomega1351
10 ай бұрын
I know one thing, cash or digital, they need to cut it out with this 99 nonsense. They really think people don't see that there's no difference between $299.99 and $300.00 except they get 1 penny back in the former? Stop the shenanigans!!! 😶
@HaedenBeck
10 ай бұрын
It's always been true that $9.99 looks cheaper than $10. Stores wouldn't be doing it worldwide for decades if it didn't work.
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