Cashless society
Louisiana passes law banning cash for some transactions.
Remember, I do this to entertain me, not you.
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October 17th, 2011 at 9:25 am
WTF? How’s Grandma going to run her Yard Sale?
October 17th, 2011 at 9:28 am
More importantly how do they reconcile this with cash being required legal tender.
October 17th, 2011 at 9:40 am
Good luck to Louisiana during the next hurricane.
October 17th, 2011 at 10:16 am
How long before cash is banned for guns, to make sure at least the credit co has a papertrail of the purchase?
October 17th, 2011 at 11:46 am
I see a Supreme Court case in the future.
And MASSIVE Passive resistance.
October 17th, 2011 at 11:47 am
I was thinking there was a federal law that said you HAD to accept cash for every monetary transaction. It’s written on my money, at least.
October 17th, 2011 at 12:03 pm
Eh. They want our money, they want our data. This law, in many different guises, is going to become more and more frequent. Banks already have to tell the feds about cash transactions over $10,000.
October 17th, 2011 at 12:34 pm
Article 1 – The Legislative Branch
Section 10 – Powers Prohibited of States
“No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts …”
Seems some people have a reading comprehension problem. But that would be a generous view of their moral character; personally, I think they are just tyrants and that they full well understand the prohibition and just don’t care.
October 17th, 2011 at 12:52 pm
Yea… My dollars have this “good for all debts” thing written on them. That’s Federal, not state. And Federal trumps State..
So Louisiana can just go to hell.
October 17th, 2011 at 2:41 pm
Paul:
Not federal reserve act issue. They aren’t targeting people who use the pawn shops and second hand stores.
They are targeting the store owners. The store owners are the ones who pay for the purchased items, and the legislatures is demanding they pay using a traceable means.
If they forbade pawn shops to accept FRNs as payments to them, then it would be in conflict with that act.
Yea, it’s crap. Thieves will be unaffected, of course.
October 17th, 2011 at 3:53 pm
United States currency is legal tender. Period.
Send the Army to Baton Rouge, apply the treatment dished out to Atlanta in 1864 and Richmond in 1865.
October 17th, 2011 at 7:24 pm
Everyone is going on about what constitutes ‘legal tender’ etc and they are missing the point. First, let me point out that it was the Federal government that declared reserve notes to be legal tender.
Secondly, it seems to me that the law is intended to go after people who are trying to get around paying taxes by claiming that they’re not running a business.
Now, you can still disagree with that if you like, but let’s disagree with something for accurate reasons, not a misinterpretation.
Also, what’s with Mike M calling for the Feds to come burn down my city? When you say that, how does that make you any different from Bill Ayers?
October 17th, 2011 at 10:16 pm
I think the real problem here is the common misunderstanding of what “legal tender” really means. “Legal tender” only means that it is “legal” for you to “tender” – or in more modern terms “to offer as for payment” whatever the government declares to be “legal tender.” Federal Reserve Notes are legal tender because the government says so. You will not get in trouble for offering to pay with them. Because the government says so. The key point that most miss is that there is no law requiring anyone – even the government itself – to actually accept them!
Our Department of the Treasury even says so on their website. The key points are found in their FAQ. Look first at the section on what is backing our currency. You will find that in the fourth paragraph of the section called “What are Federal Reserve Notes …” (Hint: Nothing!)
Then look at the section on the meaning of Legal Tender. That’s back up at the top of the page. It’s an eye-opener!
http://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx
The bottom line, as you will see in the Treasury’s own FAQ is that the currency is not worth the paper it’s printed on and nobody is required to accept it anyway! Why is it still useful? Force of habit.
October 17th, 2011 at 11:50 pm
Are you kidding me!!!!What is wrong with this country.Sure I see that they are hoping to get more of there f-ing cut with more traceable taxes but to pass a law.I guess we will all have to jump on the scam of a non profit train.Dont get me wrong I am sure there are plenty of true non profit organizations out there that really benefit the public but there is a hell of alot that don’t.
October 18th, 2011 at 2:49 am
Tal has a point, there. As a native Georgian whose proudest boast about his family is that all four of his great-grandfathers fought honorably against the United States of America, I say eff the Feds, in whatever form in which they exist.
October 18th, 2011 at 8:05 am
I own a small music store in a small town. Our area is economically challenged, which is why I deal in mostly used band instruments – kids here can’t afford the new ones. I was a little distressed a couple years ago when I had to get a license as a “Junk Dealer” in order to sell used instruments, but sucked it up and carried on. If this “no cash for used merchandise” thing ever gets to Upper Michigan, I’m outta here!
October 18th, 2011 at 7:53 pm
While we’re on the subject, I believe Article 1, Section 10 of the Constitution is talking about the various States minting coin as legal tender for themselves. I’m not aware of any State that bothers to do that these days because there’s plenty of currency floating around that was manufactured by the Feds. (Conjured out of thin air since August 15, 1971.)