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Thread: Credit cards for children

  1. #1

    Default Credit cards for children

    Getting the kids used to the cashless society
    Mastercard introduces credit cards for children

    Steve Watson | January 27 2006

    Mastercard is to introduce credit cards directly aimed at children, encouraging them to go into debt and consume products without the use of cash.

    Supporters regard the cards, which are issued by Bluecorner, as the natural step in an increasingly cashless society. They argue that the prepayment cards will familiarise children with plastic without spending too much. Says the London Times.

    The cards are designed to get children used to the fact that cash is obsolete and their money, and the amount they are allowed to spend is controlled by someone else who also profits from their spending.

    ... continued here - http://infowars.net/articles/january...ss_society.htm

  2. #2
    Join Date
    Aug 2005


    100 years ago, Jesse Livermore bought and sold millions of dollars worth of stock, through multiple brokerage houses of the day, often with cash. $100's, $500's and $1,000 dollar bills were commonly used for large transactions. The $10,000 note rarily got out of the banking systems as they were primarily for bank to bank overnight transfers.

    With the exception of us (for the most part) no one wants cash anymore. Starbucks prefered payment is a credit, debit, or gift card, thus reducing the liabilities inherent with cash (for $1.64 cups of coffee!). The Fed stopped printing the $1000 and $500 in the early 1960's, I think. I remember, as a child once or twice seeing a $1000 in circulation in New York City, but that was the mid 1970's usually at the Hilton. You really cause a stir trying to pay a large hotel bill in cash now, and you still have to produce a Credit Card! According the the Federal Reserve Bank, an 'undisclosed amount' of currency is still in circulation in the form of $1000 and $500 dollar bills. I guess the general thought is that most of the remaining large bills are most likely collecting dust in Columbian caves or vaults. Who knows. When was the last time anyone heard Greenspan pine about the M2 money supply, anyway. Burnanckys turn now.

    I got the ESPN series of "Tilt" on DVD for Christmas, and watched it over the course of a week or so. Mellodramatic at times, fast paced, lots of action, but very unrealistic portrail of U. S. currency. The three main characters regularly bought and sold well over the $10,000 of chips, multiple banded bricks of one hundred $100's were tossed about like candy, no cage, IRS, or Fed hassles whatsoever. I have never once been paid $10,000 in one banded brick. Once in a great while it is counted loose, but most always I recieve two banded packets of $5000 each. (never had the balls to actually cash more than that at one time as the CTR is required at $10,000.01). I have never once seen anyone else in Vegas or A. C. paid in a 100 bill brick. It may have been a thing of the past, but in the last couple of years that my game has gotten to this level, I have not seen it. Seems like it is becoming a sin to, first earn money through skill, then want to be paid in the most liquid form of money there is, Cash. My bank goes biserck when I walk in on a Monday morning, looking Jet lagged and haggered, and deposit $5000 to $10,000 in cash. Finally had a sit down with the Bank manager who explained that internal procedures of the bank required a paper trail for anything over $5000 in currency. And with the turnover of tellers, his employees never got well versed in internal procedures required for recieving cash, because the piss-ant town I live in frowns on carring more than a $20 next to all that plastic in your wallet!

    I'm sure there are some who feel that a "cashless society" is progress, but I view it as a direct blow against democracy, capitalism, and especially privacy (all things respectable card counting Blackjack players stand for). Hate to see idea's like this passed on to next generations.

    Far wose is impressing in our childrens minds that credit is the rule, and not the exception. CASH IS KING!

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