Checks or Treasury Direct Debit Card

I've had some time to think, as I'm sure everyone has, about A LOT of things lately. However, my focus in on the economy or lack thereof as of late.

I started to take into consideration the propaganda (either way), the fear, the panic, the ridiculous responses by the citizenry (the run on toilet paper of all things) and I'm a bit concerned about this "helicopter money".

How will it be dispersed?

We keep hearing the term "checks", but I think that would be disastrous on a biblical scale. Not only because of potential fraud, but who's going to run the complaint desk?

Some questions that one might want to consider being answered are:

Will these checks be sent out at the same time or in blocks?

Banks are no where near flush enough with cash to handle the cash withdrawals, so what's that going to look like for those who don't bank or choose to "get it and go"? (Smartest option IMO).

Is the National Guard on standby to "manage" the amount of turmoil a six block long line to cash it can cause?

Direct deposit would be like a neverending Christmas morning for the banks, no doubt. However, you can't force people to have direct deposit, or can you?

Do you think banks will impose a new round of fees for transactions to profit off of the incredible influx of liquidity? Sort of an ancillary bailout to appease their investors?

Businesses are beginning to "ban" cash/coin transactions because the virus can somehow persist on our currency🤷🏽‍♂️.
www.foxnews.com...
South Korea's central bank took all their banknotes out of circulation for two weeks or in some cases burned paper money.

Is it even feasible to do that here or, literally, launder the money??

Is this the next hammer to fall, a swift transfer to a cashless society??

If the FED, or most likely the Treasury, sends out somewhere between 150 to 200 million Treasury Direct Debit Cards, (which would make the most sense), would you still believe this wasn't preplanned???

How would that be received by the citizenry?

I think the Treasury cards or something similar is the only feasible way to ensure individual accounting.

The US Census hasn't even finished yet, and that amount of cards are going to be sent out to every address in the book??

Another thought is to those who may not receive it; not qualified or its sent the wrong address or stolen, or CLAIMED to have been stolen...
What's that going to look like? Everyone is on edge at this point, I'm not sure most will handle it very well.

There's a lot to consider if this is implemented, and saying its going to definitely happen in April is a bit overoptimistic or very PREPLANNED.

ETA: PLEASE don't make this political. This is about us this time, not them.

Thanks in advance.

a reply to: EternalShadow

I heard it would be direct deposit for those who have received direct deposit on their refund in 2018. Im sure there will be a tangle when trying to iron this out, But at least they are trying to help.

I always take a check and cash it. Even if they put additional fees to cash them, you can Always just bypass with the old sign and deposit trick if you know someone with a bank account. Sign your check over to a trusted party, have them give you cash. They will either withdraw the deposit for you later, or pay you up front.

The two of you decide what, if any, compensation in fees is acceptable.

a reply to: misskat1

You do realize the tax base in this country is rather small considering. What about the rest of the people that need help?

I wasn't aware that only taxpayers would receive money.

If that's the case, it's going to get VERY ugly.

a reply to: worldstarcountry

I'm the same. At this point, having your cash in a bank right now is severely risky.

a reply to: EternalShadow

I think the government was using the term "check" for a reason. They'll send checks. You deposit your check or cash it.

a reply to: Trueman

Checks to whom and where? Last known name and address and out it goes??

I'm not so sure..

a reply to: EternalShadow

It's gonna cause issues in some Detroit area homes and elsewhere ...where you got adults, teens, kids and infants. Who gets what, and the others?

That is gonna be a huge issue when $ is released and to whom, and why....watch what happens. I'm concerned...and not just for my family...

1st Responder

a reply to: EternalShadow

If you're not paying tax, you don't have income anyway... Which would men you can't possible possibly be out of work due to this virus.
I mean, is there any hole in that logic from the government's perspective?
Why would someone who doesn't pay income tax be hurt by a sudden lack of work? If you work, you pay.

I wish they'd s scrap the whole plan. All they're going to do is give me a grand, then tax me for it at the end of the year at 30+%, then turn around and raise my taxes another $1500 next year to cover it, and then leave that tax there indefinitely.

I'd save money leaving a grand on my 24% master card for a few years.

Cash will be banned to help stop the transmission of COVID19. UBIs will be given through the Social Security system. Large corporations will be nationalized through government buying ownership of corporations through stocks, while most small & medium sized businesses will go bankrupt. We'll also probably have negative interest rates, which will automatically withdraw money out of our bank accounts to pay interest on our savings. Welcome to the New World Order.

originally posted by: EternalShadow
a reply to: Trueman

Checks to whom and where? Last known name and address and out it goes??

I'm not so sure..

I don't see a problem. If you are legally in the country, government knows where you are living. Check with your name goes to the mailbox.

originally posted by: Trueman

originally posted by: EternalShadow
a reply to: Trueman

Checks to whom and where? Last known name and address and out it goes??

I'm not so sure..

I don't see a problem. If you are legally in the country, government knows where you are living. Check with your name goes to the mailbox.

It's not as simple as that, although its comforting to say, "the grass is green because it is". There are a multitude of variables to take into consideration as stated in the OP.

a reply to: a325nt

Only hole I could see is that the Coronavirus doesn't care if you were working or not.

It's still going to take its toll on you should you encounter it.

Not to mention, this is an obvious "stimulus" measure.

Would "stimulating" ONLY taxpayers be enough??

I hardly think so.

a reply to: a325nt

If you are a senior citizen sheltering in place, you are gonna probably want someone to deliver groceries to you.
I tried Kroger's delivery service once, found it be quite a bit more expensive than the store price and then there was a delivery charge.
Just because someone isnt working enough to have to fill out an income tax form doesnt mean they are not being adversely affected financially by the virus.
But, it's up in the air still I think as to just what, if anything anyone gets. The latest I heard the senior citizen/disabled might get an extra $200 a month in their social security checks for the rest of the year....probably might as well say they are just getting it for good since once given I dont see them taking it back..

My take in the gift $ is that it is solely Fiat money, printed out of thin air. Then it will be added to our deficit ....

Being Trillions in debt at this juncture means nothing if half the world dies of this pandemic. Less to have to re-pay. In fact maybe a worldwide forgiveness of debt. If it's good for us, then it's good for the world. Start all over. I never touch cash as it is contaminated being inches away from 90% of our populations anus's and urinary tracts. Very few are skid-free...... think about it. As for receiving it, many people feel 'defiantly so' that they deserve it. It will have little positive effect and will be spent on 'sin' items squandered away. Some will put it to work doing what it is supposed to do.

Get you through rough times.

I wonder if Social Security recipient will be given this check ? Caesar couldn't fully fix the poverty that developed there, endless wars and expansion. And Caligula... Rome fell never to recover but change into something much different
Is this what our Seniors are living to see come to pass. The end of many a great nation.

It's pointless to point out the folly, because there's ........Free Money........ But then...... there's the Piper to be paid too.
The Perfect Storm....
It has more than a little resemblance ya think...



Free Money..............

A government, any government cannot give you anything they haven't already taken from you!
second

From what I've heard, and it's possible that I heard what I wanted to hear, it will be sent to those directly impacted by the virus so I would imagine folks having filed for unemployment benefits with whatever time period or those caring for an immediate family member so not sure how the latter would be known by the government...When the paid FMLA begins, that will certainly help out some folks for at least the two weeks proposed.

Anyway the whole point is I think that they will mail a paper check I just don't think that there would be enough time to create plastic cards and all that goes along with that...

Truly, IMO at this moment, I think increasing the unemployment benefits, the paid FMLA, I don't know that the "checks" are reasonable or that they are really going to "stimulate" anything right now.

Very confusing times.

ETA: My elderly sister, who lives with me,, gets quite a bit of retirement money as a retired civilian from the military and she really doesn't need any extra. Even if I were to be out of work for a period of time, we would get by so...maybe folks like her don't need it?...I don't know...

You have said that often. In this case I think it is pure Fiat, printed out of thin air, No backing
a reply to: americanbuffalo1

a reply to: Plotus

absolutely fiat! Money is the chain around man kinds neck. Its all about debt, creating it, maintaining it and reinforcing it. It is the game the central bankers and big government play all the time.

Its backed in nothing more than faith as it has for close to 50 years!!

IFF the 'government' is serious about wanting to restrictl the use of the money to groceries, medical support, daycare - the only way that could be accomplished would be through debit cards. Once the money is on the lose, there's no controlling or tracking what it gets used for. I'd probably try to hedge my 401K with downside futures otherwise.

ganjoa