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Comment Labeling it with old people is a psyop (Score 1) 52

While it might technically be true that old people are more likely to use cash out of habit, leading with that as the reason to keep using cash is a bit of a psyop. It's basically saying, "We'll keep this around a little while longer for grandma" and patting you on the head.

The real lead needs to be the robustness of cash in emergency situations, or even ordinary outages that happen all the time. That doesn't go away when the old people die. Accepting cash needs to be a legal requirement, at the very least for essential services such as groceries, gas, etc.

Comment Re:Correction to headline (Score 5, Insightful) 140

In the short term it would most certainly hit profits, not merely because of lower revenues from interest, but because credit card is unsecured, bad debts taking a bigger bite out of profits. The ultimate result would be that it would become much harder to get a credit card. In the end consumers would effectively have their short-term lending capacity reduced.

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