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"In a deflationary economy, holding cash (unproductive) enriches you off the back of the productive economy" It's a common misunderstanding. People confuse mon

"In a deflationary economy, holding cash (unproductive) enriches you off the back of the productive economy" It's a common misunderstanding. People confuse money with wealth. Holding cash does not enrich anyone. Money is useless if you can't spend it, so at some point hoarders will say: enough, it's time to use some life. At the end of the day, money is just numbers with the potential to convert it to comfortable life. My selfish side says: I wish more hoarders who collect numbers and don't convert it, so they don't use real world resources. They leave more for me! "values work yesterday more highly than work today" What's wrong with that? You can also say: values work today more highly than work tomorrow Most genuine credit card users are not aware of chargeback possibility and they rely on vendor reputation anyway. I wish you have to handle credit card payments so you realize how big burden it is and how it cripples the whole economy.

Nursie 14y ago
Holding cash does not enrich anyone. In an economy with a deflationary currency, those holding cash get relatively richer without doing anything. So yes, it does. Most genuine credit card users are not aware of chargeback possibility Of course credit-card users are aware of the possibility of chargeback and contesting payments! Everyone gets screwed by dodgy online retailers sooner or later and goes through it. Where the hell do you live that consumer rights are so secret? it cripples the whole economy. No, it enables the whole economy, without the possibility of getting cash back from vendors, e-commerce would never have taken off. It's a guarantee to us, the consumer, that we will get what we pay for and even if you disappear off the face of the planet we won't be screwed. Sorry you don't like it. Everyone else really does, and we have learned through the whole of history that salesmen will rip us off at any given opportunity. Consumer protections are skewed in our favour, and they should be.

Nursie 14y ago

Holding cash does not enrich anyone. In an economy with a deflationary currency, those holding cash get relatively richer without doing anything. So yes, it does. Most genuine credit card users are not aware of chargeback possibility Of course credit-card users are aware of the possibility of chargeback and contesting payments! Everyone gets screwed by dodgy online retailers sooner or later and goes through it. Where the hell do you live that consumer rights are so secret? it cripples the whole economy. No, it enables the whole economy, without the possibility of getting cash back from vendors, e-commerce would never have taken off. It's a guarantee to us, the consumer, that we will get what we pay for and even if you disappear off the face of the planet we won't be screwed. Sorry you don't like it. Everyone else really does, and we have learned through the whole of history that salesmen will rip us off at any given opportunity. Consumer protections are skewed in our favour, and they should be.