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'Use Cash Movement' to Ignite a Monetary Revolt

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Headlined to H4 11/30/09

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You're about to start a banking revolution. Yes, you! Not Chase, not Wells Fargo, not Citibank, not even Bank of America or the Fed can or will do what you're going to do.

The government? What a laugh. Big Banking already bought and paid for them.

You are about to use the power of the marketplace to change banking in America, for the better, for you.

They got the big bail-out. They got the fix in on the Ponzi scheme that was collateralized debt obligations (CDOs) and credit default swaps (CDSs) to the tune of a cool trillion dollars. Now you are going to take that money back. Legally. A little at a time.

The banks are currently so greedy they are increasing the interest rates on existing credit card debt and snaring customers into usury fee and penalty traps as a quick way to hefty profits. They're allowed to do this, it's perfectly legal. The reason it's legal is you and I use their services.


It's just a subsitute for cash

The one service we tend to use the most, usually without a thought as to the consequences, the one Big Banking makes billions of dollars on, is also the one you can do without: credit and debit cards. How did we forget that plastic is just a substitute for good 'ol cash. (Oh, maybe the billions of dollars Big Banking spends to convince us plastic is better than cash? Is it? Where do they get all that money for all that expensive advertising?)

Think about it, with a little effort, using cash instead of cards is an easy, cost free way to save money and hurt the banks.

You may not be able to pay off all your credit cards today, but you can stop using them, if not completely, less. And, every time you don't use their cash substitute cards is a victory. Each is a small but significant act of subversion the will help end Big Banking tyranny.

Feel good about handling cash again. It's going to be the next big thing.


It's all about the Benjamins

Big Banking needs billions of transactions on plastic to be profitable. Those profits allow them to buy the lobbyist that buy the government that buys the laws, rules and regulations that have let them steal all that money from us. How about we put an end to that?

Here's their current take:

You use plastic for a $100 purchase: $3.50 from the merchant

You use plastic to buy a $3.50 latte and overdraw your account: $35 fee

You use plastic to buy a $35 gift and go over your credit limit: $50 fee

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Chaz Valenza is writer and small business owner in New Jersey. He earned his MBA from New York University's Stern School of Business. His current feature film project is "Single Point Failure" an insider's account of how the Reagan Administration (more...)
 
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Or, people could just pay off their credit card de... by Scott Baker on Monday, Nov 30, 2009 at 2:45:11 AM
This is a small wedge action everyone who is willi... by Chaz Valenza on Monday, Nov 30, 2009 at 10:20:55 AM
You mean, besides approving articles like yours as... by Scott Baker on Tuesday, Dec 1, 2009 at 4:15:45 AM
welcome, but in the interior where I live cash is ... by Stanimal on Monday, Nov 30, 2009 at 7:24:38 PM
I've actually been against credit cards for some t... by wagelaborer on Monday, Nov 30, 2009 at 10:25:47 PM