We own a business. I have to do the taxes every month, and I divide them into two basic categories, cash or credit card sales. The cash sales used to be upwards of 50 a month. Last month, I had two. I think it would be hard to devalue our currency when our currency currently is plastic credit.
That is exactly why its devalued, a credit card is the ability to print money. The high interest rate means that percentage of interest charged devalues every dollar digitally printed by the use of that card. Further devalued by the charge to the business to take it. The dollar is worth about 2 cents and if we are honest it's really worth zero already. Like a dead fish out of water, still alive and kicking but no where but death to go.
My family also owns a small business. My dad used to make trips to the bank everyday for cash. Now it is 1-2x/week.
I have noticed an uptick in small business giving 3-4% discounts for cash because of the card fees charged to the business. The money that the major credit card companies make is insane. It literally borders on loan sharing rates.
We own a business. I have to do the taxes every month, and I divide them into two basic categories, cash or credit card sales. The cash sales used to be upwards of 50 a month. Last month, I had two. I think it would be hard to devalue our currency when our currency currently is plastic credit.
That is exactly why its devalued, a credit card is the ability to print money. The high interest rate means that percentage of interest charged devalues every dollar digitally printed by the use of that card. Further devalued by the charge to the business to take it. The dollar is worth about 2 cents and if we are honest it's really worth zero already. Like a dead fish out of water, still alive and kicking but no where but death to go.
My family also owns a small business. My dad used to make trips to the bank everyday for cash. Now it is 1-2x/week.
I have noticed an uptick in small business giving 3-4% discounts for cash because of the card fees charged to the business. The money that the major credit card companies make is insane. It literally borders on loan sharing rates.