Guest Post by Martin Armstrong
There once was a time when cash was the undisputed king. Merchants preferred cash payments over credit, and there were often incentives for paying with paper. I recall receiving lower gas prices when paying with cash, for example. It is increasingly common to see “no cash accepted” signs at establishments as the world moves toward a cashless society. At the Federal level, there are no laws protecting consumers who wish to pay in cash. The Federal Reserve stated on its website:
There is no federal statute mandating that a private business, a person, or an organization must accept currency or coins as payment for goods or services. Private businesses are free to develop their own policies on whether to accept cash unless there is a state law that says otherwise.
"Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency [including Federal Reserve notes and circulating notes of Federal Reserve Banks and national banks] are legal tender for all debts, public charges, taxes, and dues." This statute means that all U.S. money as identified above is a valid and legal offer of payment for debts when tendered to a creditor."
Yet, the Federal Reserve also recognizes that as of 2021, 4.5% of US households were “unbanked.” This means that 5.9 million households are unable to pay by card. This is the lowest unbanked rate since the Fed began keeping track in 2009. The most common reason for not having an account, reported by 21.7% of unbanked households, is that they do not meet minimum balance requirements. The second most reported reason (13.2%) is that people simply do not trust banks, while the third most cited reason (8.4%) was the desire for privacy.
If merchants refuse to accept cash, these people cannot participate in consumerism. Their legal tender is simply not accepted. Unbanked households are more likely to contain persons with lower levels of education, lower incomes, disabilities, single mothers, and minorities. As the Fed reported:
“Differences in unbanked rates between Black and White households and between Hispanic and White households in 2021 were present at every income level. For example, among households with income between $30,000 and $50,000, 8.0 percent of Black households and 8.4 percent of Hispanic households were unbanked, compared with 1.7 percent of White households.”
If cash is legal tender, then it should be accepted everywhere. Numerous merchants not only refuse cash but they charge an additional fee for using credit. Tennessee, Arizona, Delaware, District of Columbia, Idaho, Maine, Massachusetts, Michigan, Mississippi, New York, North Dakota, Oklahoma and Pennsylvania, New Jersey, Rhode, Colorado, and Connecticut have laws at the state level protecting cash payments. Some cities such as Washington D.C., Berkley, Chicago, New York City, Philadelphia, and San Francisco also have laws in place. However, I can assure you that many retailers in these areas still do not accept cash.
Washington wants to move us toward a cashless society to tax everyone, even those with the least to give, on every transaction we make.
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Here in rural Arkansas, people really believe in cash business for everything that isn’t a corporation.
Notices of 3% cash discounts are getting posted in all the small businesses in this rural area.
Not just Arkansas. I’ve been to several rural restuarants in Wisconsin that prefer cash.
Might see a little resistance to their CBDC. (sarc)
CDBC already started. Go look at FEDNOW launch slated for July
Wonder what they’d do if all their Fednow machines were vandalized and or destroyed in every back and store, or restaurant?
I asked this earlier, but its already buried way down below…….
I have a Legitimate question here……………….
With the millions upon millions (Billions ???) of dollars (paper)
that are handled yearly thru , gambling, drug sales, hush money,
other illegal activities, Ect, ect, ect…………….
Does anyone here, truly believe, The Mob/CIA/FBI/Cartels/.Gov…………..
(Pallets of Cash anyone ????????)
Are going to let their $’s And Control…………..
Slip away ??????????????
Just asking
There’s no doubt in my mind that the central bank digital currency will be for us peasants and cash will still be king for the political parasite class, drug dealers and other criminals.
They only trade in pre-pubescent children and adenochrome.
You’d be amazed what I can get with Tide.
Tide is equal in value to AG. Could not hurt to have a huge Tide stash , I don’t see the big deal with Tide but what do I know?
A cup of Tide with a few gallons of diesel can create a hot mess. Use a plastic garbage bag to ensure proper statistical dispersion
Sounds like a napalm recipe variant. Half gas and half dishwashing liquid will get you there too. Or gas and Styrofoam. That shit is sick!
I miss the good ol days when we just used candy to get ’em in the van! /s
Yup, I had to read it twice… Sometimes I’m slow
They use the thousand dollar bill for federal reverve use exclusively, so you may be onto something. It used to be available to anyone with the money at the local bank branches once upon a time . Will they do the same with the hundred dollar bill? I’d say revolt ,riot,fuck them up Mogadishu style if so.
If a business won’t take cash, trade somewhere else that does. Be sure you let the cash haters know you trade with his competitor.
Use cash everyday and everywhere.
Don’t, and prove there is no demand or need for cash and you’ll find it replaced with CBDC.
“If merchants refuse to accept cash, these people cannot participate in consumerism.”
A spokesman for the company said “Gee, that’s too bad.”
“Prepare now. Your Doom is at Hand.”
you have no chance to survive make your time
I’m ” banked ” but I still prefer to pay cash for most bills and groceries. I also like keeping a few grand close for emergencies. Also I don’t want to leave a digital trail everywhere igo.
Does anybody know where Woodrow Wilson’s grave is? Cuz, I gotta take a leak.
I know where his bridge is.
I lived in Philadelphia for a few years around 2001 and found a lot of businesses didn’t take credit cards. Cash or personal check only. They didn’t want their revenue to be tracked. When CBDC is implemented, everyone I know will be using cash or barter.
I expect that we will need to keep some sort of credit card or debit card in order to do certain things but there is no reason for paying for a cup of coffee with a credit card. There will be an active black market for cash and other alternative paying people the same as it has existed in most of Europe since forever.
The sheeple will get fleeced. Those paying attention will adapt and overcome.
US currency will achieve its actual value when FedCoin is introduced. Each individual will be allowed to trade in a certain amount of cash and after a grace period, it will be worthless.
To seal that deal, the street will be flooded with counterfeit paper dollars of “mysterious” origin. Value forced to zero. IIRC, CENTCOM pulled this dirty trick in MENA campaigns.
Can’t get my neighbors, who keep stuffing cash into a hole, to understand govt has more in common with an organized crime cartel than it does with lawful, productive citizens.
So…time to go primitive?
Many of the restaurants around here are now adding a cc surcharge. Your ticket comes out with an amount on it and at the bottom, it states the cash price. One place adds 3.5% AFTER tax and tip, if you use a cc.
Cash is king in small town TN.
“If cash is legal tender, then it should be accepted everywhere. ”
Legal Tender means that it is accepted as payment at law, in other words you can pay your taxes and fines with it.
It does not mean currency. What is currency is determined by the market. We do not want the government determining what is legal as currency. That leads to meeting your destiny on the road you took to avoid it.
Federal Reserve Will Launch ‘FEDNOW’ Payment Service In July
People will have to prove their identity digitally to access their accounts, contends tax attorney and financial advisor Rebecca Walser.
“You cannot do digital currency without trusted digital verification,” Walser argued in a recent interview. “Therefore, everyone will have to get a digital ID. It will be really interesting to see how people play this when they’ve said all along that many people in our country don’t have the ability –too much a burden — to get an id. Now everyone, just to have an account, is going have to get not just a digital id, but you are going to have to confirm your digital ID through government documents.”
Free America is dead in July if we all allow this to stand. Most Americans of the past allowed the 1913,1933,and 1971 scams. This will be total tyranny by comparison.
B_MC- The Fed will not admit that the FedNow payment system will use CBDC. This system will bank the unbanked, like it or not for the day when cash no longer exists. There will be a per item fee for transfers, bill payment, purchases, etc.The Fed/Rothschilds will become your bank of choice/no choice…..whatever. Young people will accept this as they are unable to see the enslavement of the system.
Edit- July fits as LIBOR ends in June and I think there will be some perceived banking crisis about that time.
“Like it or not….” What changed your mind?
Insatiable greed of fucking Jews.
And tyranny
Molotovs, and bricks are cheaper than bullets. Perhaps these law breakers should remembered that after supporting antifa prior to this bs.
Have you SEEN the price of gas and diesel lately?
Then there’s the precision factor…which you may or may not care about depending upon circumstance.
Just sayin’…stay flexible.
So, it’s “Silver or Lead” time at the O.K. Corral.
We can do this, people.
[youtube