Posted on 06/10/2016 4:23:52 PM PDT by Right-wing Librarian
" If some policeman thinks you’re doing something illegal, your life is over. Without money, you cannot hire a lawyer and they can just rob everything you have on a whim."
(Excerpt) Read more at armstrongeconomics.com ...
If a person’s financial history is so terrible that no bank would even open a checking account for them, then that could put this in a different light.
But they do have bank charges that can run higher than the interest charges on prepaids.
>>But they do have bank charges that can run higher than the interest charges on prepaids.
Yes, they “can”. Or they can go find a good credit union and the fees don’t exceed prepaid card interest. If they really live paycheck to paycheck and somehow get paid in cash so they can transfer it over to a prepaid card and risk all the money they have in the world on a lost wallet, then all I can do is shake my head.
Is the lotto their retirement plan too? Do they consider “a good set of dubs” to be an investment? LOL.
The Supreme Court said that civil forfeiture was constitutional about 30 years ago.
the solution is simple.
don’t keep any money in the banks. you can have an account and use it as a pass thru to pay bills, but don’t leave any significant deposit in any bank.
I’m reminded of a Rockford Files episode where the game was stepped up lot.
One of my favorites - Pastoria Prime Pick
http://www.imdb.com/title/tt0688031/
Wealthy marks were setup for various big offences and had to pay unreal fines and be blackmailed for more. Rockford was mis-identified.
This isn’t necessarily true. SOme people have had major p;problems with bank accounts and aren’t able to get one, so they use pre-paid debit cards. to say someone is up to no good for using them simply isn’t true.
>>SOme people have had major p;problems with bank accounts and aren’t able to get one
Yeah. I also hear that its unfair to minorities to ask for an ID before voting.
Prepaid credit cards are declined if the charges exceed the balance. Debit cards are like checks. You can overdraft and some banks will charge a daily overdraft fee. I think that’s the appeal for people who aren’t great at managing money.
>> I think that’s the appeal for people who aren’t great at managing money.
Like people who pay interest to use their own cash?
>>I think that’s the appeal for people who aren’t great at managing money.
You guys prove the wisdom of Oklahoma’s move to do this. If some person who isn’t “great at managing money” or can’t get a bank account for things in their past suddenly shows up with a fistful of prepaid plastic, there is something going on.
The interest rate is a lot less than five days times $30 fees.
So being an idiot with money is a crime?
>>The interest rate is a lot less than five days times $30 fees.
Plus, they are a great anonymous way to pay for porn sites.
LOL. I did not realize that. I had to use a prepaid card for a while because I moved out of state and it took a while to find a new bank.
>>So being an idiot with money is a crime?
No, but that’s usually where the money came from. I know some country bumpkins who are very poorly-educated, but the ones who actually have money are shrewd as can be when it comes to money. People who bounce checks and can’t qualify for a checking account never have a ton of money unless they just sold “something”.
>>LOL. I did not realize that. I had to use a prepaid card for a while because I moved out of state and it took a while to find a new bank.
Really? I have a bank account in a bank that’s 4 states away from me. I’ve had it for 30 years. Do you live in a state where you can’t bank across state lines?
Well I politely disagree. Prepaid cards are like cash. People assume you’re up to no good but that isn’t always the case. I had to use a prepaid for a while because I was between banks. My uncle use to walk around with thousands of dollars in his wallet. If a cop pulled him over, he would assume he was a criminal. Uncle just liked cash.
Try moving to WV. Banking has been a bit of a pain for us. In fact, I drove an hour to deposit a check today (but had other errands).
Two words: credit union
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