[americandream]

http://www.cnbc.com/2016/03/06/faith-in ... d-bis.html

While financial markets have regained some composure since the start of the year, mounting global debt levels, sticky growth and the prospect of long-term negative rates are issues that are not going away anytime soon, the Bank for International Settlements has warned.

[Paulo1]

I am of the opinion that almost any crisis will kick this mess over and we'll only recognize the path to ruin in hindsight. To be quite honest, every day things muddle on I think, "Good enough, more time to prepare and more time to still enjoy the benefits of this society before the shtf." It's a finite world...this craziness is not going to last.

My concern right now is ZIRP and NIRP. When people lose their past pension opportunities, their decent manufacturing wages, when their Unions are demonized and opportunities for personal investments are gamed by insiders and the politically connected, they are obviously going to save as much as they can in the effort to look out for themselves in a shaky future. First, regular folk are castigated for not saving enough and being in debt, and when they save they are threatened with NIRP and a cashless society.

It's enough to make you want to go out and by a gun and some ammo. On time, of course.

[americandream]

I am of the opinion that almost any crisis will kick this mess over and we'll only recognize the path to ruin in hindsight. To be quite honest, every day things muddle on I think, "Good enough, more time to prepare and more time to still enjoy the benefits of this society before the shtf." It's a finite world...this craziness is not going to last.

My concern right now is ZIRP and NIRP. When people lose their past pension opportunities, their decent manufacturing wages, when their Unions are demonized and opportunities for personal investments are gamed by insiders and the politically connected, they are obviously going to save as much as they can in the effort to look out for themselves in a shaky future. First, regular folk are castigated for not saving enough and being in debt, and when they save they are threatened with NIRP and a cashless society.

It's enough to make you want to go out and by a gun and some ammo. On time, of course. :-D

Absolutely! But that said, the markets cannot be gamed and follow quite an objective trajectory...and we will find an increasingly shifting and insecure capitalist class as deregulation and globalisation exposes them to fierce competition.

[Outcast_Searcher]

First, regular folk are castigated for not saving enough and being in debt, and when they save they are threatened with NIRP and a cashless society.

It's enough to make you want to go out and by a gun and some ammo. On time, of course.

Yes, having the OPTION to use a credit card instead of cash is so threatening. It is such a burden. Boo hoo. So how are you turning the ability to use information technology instead of cash a doomy thing again?

Last time I checked, not needing to go to the bank and stand in line to get cash, cart around cash, and the ability to shop on the internet were all good, helpful things. But I know -- if you can't find credible doom, make stuff up.

[Paulo1]

For God's sake, on a shopping trip I pop into the credit union and stand for 30 seconds and get, (oh the horrors...a thirty second stand and wait) cash, usually $400 a pop.

Or, and this part is really hard so pay close attention, when I buy the groceries and I use my debit card I sometimes push the little button that says, "would you like extra cash"? and after I push yes a confusing list of options like $20, $40, $60, $80, and then the cashier hands me the cash with my receipt.

Wow, it is just so doomy and made up. Hmmm, I wonder why the stores offer the cash service? Do you thing they want us to run in and buy survival equipment? Home Depot even offers cash. It isn't exactly a new concept.

I use a credit card for just two things, online purchases and gas. |I have noticed over the years that people who use credit cards for more than that often have really big balances to pay off at the end of the month and can get in financial hot water. Since I have no debts and have been retired since 57, I must have done some things right.

Cart around cash. Wow, it's just so heavy. Man, 5 twenties are absolutely hurting my back. Last week my CC # got hacked and I received a call from MastrCard asking me if I was buy railroad tickets in Finland? Also, did I buy Finnish porn and jewlery? The card was duly cancelled, my new one is in the mail, and I do not have to pay the phony charges. Last time I checked this has never happened to me with cash. But hey, it's just doomy enough to be true.

[Outcast_Searcher]

I use a credit card for just two things, online purchases and gas. |I have noticed over the years that people who use credit cards for more than that often have really big balances to pay off at the end of the month and can get in financial hot water. Since I have no debts and have been retired since 57, I must have done some things right.

If you've got financial discipline, then good for you. So do I. I use a credit card instead of cash 99% of the time -- excepting tips I give any nice fast food person who serves me. I pay off the bill in full each month (never paying a penny in interest or fees), and I have a convenient record of what I spent online, per my statements. I don't have to worry about losing the card as long as I report it promptly to the bank, unlike cash. Cash is filthy. Cash can be bulky compared to the card. etc. So you prefer cash and I prefer a credit card -- each to their own based on their needs.

I'm NOT saying anything about your financial life. I'll I'm saying is the "cashless society is a scary thing" or the idea of a cashless society somehow correlates with a coming collapse meme makes little sense to me.

I generally don't like to push the buttons that say "give me extra cash" because of how often outfits of every stripe are trying to get fees from me (often hidden in reams of disclosure docs. And no, I don't want to waste time reading all that crap to be sure I am not charged fees. This is a peak oil site. Why make extra trips to the bank/credit union if you can avoid that? I'm glad your credit union is so efficient. My credit union and bank vary WIDELY in how fast/crowded they are.

So, with respect, can you explain why the idea of a cashless society is something to be feared? All our bank accounts, etc. are virtual entities in computers anyway. Cash is really a worthless piece of paper -- it's a symbol for stored value people (thus far) agree on.

[abbaa1234]