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0 pointscal5k8y ago0 comments

It's simply not possible to carry on business without a bank account.

For that reason I'd like to see legislation which makes it illegal to refuse customers on the basis of their business model, so long as it is legal.

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5 comments · 2 top-level

ams61108y ago· 2 in thread

I'm familiar with a few local restaurants that take cash only. All Chinese food places for whatever reason.

If your car ever gets towed away on a private-property parking violation, good luck getting it back paying in anything but cash.

My barber takes cash only.

It's not as uncommon as you might think.

cal5kOP8y ago

Are they stuffing that money into a mattress? Buying stuff with it? Or do they deposit it somewhere?

mark-r8y ago

That's the whole point of cash, you'll never know.

ad_hominem8y ago· 1 in thread

Yeah I'd also like to see that, especially with the number of banks continually shrinking (e.g. less than half as many exist as did in 1980), giving consumers fewer and fewer options to shop around.

Then the other half of my brain is like "you're expecting the gov't that gave you Operation Chokepoint to do a 180 and suddenly be benevolent?" and "the reason banking is congealing into an oligopoly in the first place is because of the staggering amount of banking regulations churned out by the gov't every year, significantly raising barriers to entry" ¯\_(ツ)_/¯

cal5kOP8y ago

Yeah, I hear you. At least it's more robust there than it is in Canada... our Schedule I banks (there are 5 major ones) are protected by law from foreign competition. I don't see a move towards the type of deregulation that might lead to real competition, so the only plausible solution I see is more legislation. Hah. It makes my inner libertarian cry.

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