Comments by "" (@jmitterii2) on "The War On Cash Is Over – Do This Now" video.

  1. Gold never worked well. Half of the 1800's the US was in a recession, depression, long depression, or a panic. It doesn't work well. And it's not what you think it is. Domestic exchange for silver/gold was often halted, the metals were held for international exchange... so you're money was good to buy stuff that came from abroad. And the big kicker that if you like being able to buy gold or silver or other precious metals as a hedge... you won't like a gold backed currency because they can halt all domestic hoarding of it... in addition governments literally set their price to whatever they wanted on the metals so it didn't even really matter, the gold wasn't floated as a market like is today, it currency to gold was declared by the country. If the nation needed to increase money supply, they increased the currency per gold unit. For currency protection, monetary policy should not be allowed to do QE, particularly buying corporate junk bonds and ETFs... that's ridiculous. And these banks that are insolvent should be taken over by the FDIC and if necessary a national deposit bank and credit bank for solvent businesses to continue to preserve their cash and provide short term credit for business operations. There's no need to bail out these bloodsucking banks and distorting markets in keeping various assets (debts and stocks and real-estate) at prices that make no sense to wages/salaries. And structurally by law, REIT's simply shouldn't exist. These secondary market monsters have completely distorted bloated the price of real-estate in the primary market in dangerous well beyond wage/salaries both in rents and in price ownership.
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  2. I like cash and can't see that ending in the US. But major purchases I like using a card or some bank to ensure against fraud and as secondary proof of purchase. Way back I bought a used car for $2500 with cash... was only 16 and I only had a savings account with my credit union, and held most of my money in cash. Didn't get a checking account until I turned 18. I never felt well with paying for large items in cash in case of disputes of the purchase. But cash should never be let die. It's the only way to do business freely, unless they give us a free merchant transaction clearing house card system rendering VISA, Mastercard, AMEX, etc. useless and obsolete... that part would make me smile. No more freeloaders cutting off the top. I have since 2002 had direct deposit for tax return... when I was in the military with Air Force and any government job requires direct deposit only. It was faster to get the deposits then waiting for a check, then having to cash it. The government can freeze your bank accounts any time with court orders. In addition, you can have garnishments if judgement is made against you civil court.... so that's not to surprising. Most people wouldn't stand for losing cash in the US. So I'm not to nervous about losing cash. We won't lose cash. There were various segments of the elites that lobby to keep the penny, let alone other cash because it means a lot to their business that sort coins, make the coins, vending machines, gas stations, various shops, etc. So it's not a forgone conclusion just because Denmark is doing it we will do it.
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