Create new account | My Profile | My Account | My Bookmarks | My Inbox | Help | Log in

Home Latest Threads Greatest Threads Forums & Groups My Subscriptions My Posts

DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » If you have extra cash in...

Tue Aug 4, 2020, 04:28 PM

lastlib (21,499 posts)

If you have extra cash in savings......

(hey, you're probly not earning much interest on it at the bank...) take it down to the post office and purchase Postal Money Orders with it! That's cash for the P.O., and it stays with them until you cash the MO. (I have $3000 in postal MO's in my safe drawer, just sittin' there giving the USPS liquidity until tRump's gone and we can fix this shithole he's dug us into.)

(Got a suggestion to make this an OP)

16 replies, 3374 views

Thread info Bookmark this thread Trash this thread

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum

Replies to this discussion thread

16 replies	Author	Time	Post
If you have extra cash in savings...... (Original post)	lastlib	Aug 2020	OP
Great idea!	Dennis Donovan	Aug 2020	#1
Great idea! I'll send my husband on a mission to do this for us!	redstatebluegirl	Aug 2020	#2
Nice idea but,	Disaffected	Aug 2020	#3
If personal checks have a six-month shelf life, what about MOs?	CaptYossarian	Aug 2020	#4
Hang on. Is the USPS problem cash flow or trumpy management?	NightWatcher	Aug 2020	#5
They have cash-flow probs due to the onerous law	lastlib	Aug 2020	#10
Like helping the PO. But, I'm not sure that really does it. In 2015, the USPS only made about	Hoyt	Aug 2020	#6
The point of it is giving USPS operating cash, more than "float".	lastlib	Aug 2020	#8
I can see them investing it, but not spending what is an liability/obligation.	Hoyt	Aug 2020	#11
The obligation to repay is a short-term liability,	lastlib	Aug 2020	#13
So, they run through the cash, then a bunch of folks redeem their money orders.	Hoyt	Aug 2020	#14
So not only do you not make money but you have to pay for the	jimfields33	Aug 2020	#7
Wouldn't claim it's a good investment--	lastlib	Aug 2020	#9
That doesn't help that much.	fescuerescue	Aug 2020	#12
See post #13.	lastlib	Aug 2020	#15
love this our son is a letter carrier	gopiscrap	Aug 2020	#16

Response to lastlib (Original post)

Tue Aug 4, 2020, 04:29 PM

Dennis Donovan (18,770 posts)

1. Great idea!

Although I don't know how the USPS handles their $$$, this makes sense.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 04:45 PM

redstatebluegirl (12,217 posts)

2. Great idea! I'll send my husband on a mission to do this for us!

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 04:50 PM

Disaffected (3,950 posts)

3. Nice idea but,

what happens to your money if the post office is finally driven by the Repugs into insolvency?

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 04:54 PM

CaptYossarian (6,448 posts)

4. If personal checks have a six-month shelf life, what about MOs?

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 04:55 PM

NightWatcher (39,343 posts)

5. Hang on. Is the USPS problem cash flow or trumpy management?

I was led to believe that mgmt is slowing them down.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to NightWatcher (Reply #5)

Tue Aug 4, 2020, 07:55 PM

lastlib (21,499 posts)

10. They have cash-flow probs due to the onerous law

forcing them to fund future health-care obligations. Plus it seems trumpski's regime is using its pension fund for a piggy-bank. And his crony PG is mismanaging the agency into the ground--making it fail so they can claim it's broken so they can gut it further. If we don't stand up for it, they win.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 04:56 PM

Hoyt (54,770 posts)

6. Like helping the PO. But, I'm not sure that really does it. In 2015, the USPS only made about

$1.7 Million on the "float" on money orders.

Interest rates were a lot higher then. So unless somebody here has some billionaire friends -- willing to tie all their money up in money orders for a long time -- not sure it will help much. But, better than nothing I guess.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to Hoyt (Reply #6)

Tue Aug 4, 2020, 07:49 PM

lastlib (21,499 posts)

8. The point of it is giving USPS operating cash, more than "float".

It's gotta help more than buying stamps we don't need. As strapped for cash as it is, every little bit can help--they can use our money as long as we're not using it, until we need it.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Reply #8)

Tue Aug 4, 2020, 07:56 PM

Hoyt (54,770 posts)

11. I can see them investing it, but not spending what is an liability/obligation.

But maybe it helps, which is good.

Don’t really believe GOPers will let them go under, that’s why they approved the $10 Billion loan in March.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to Hoyt (Reply #11)

Tue Aug 4, 2020, 08:01 PM

lastlib (21,499 posts)

13. The obligation to repay is a short-term liability,

but on the asset side they have current operating cash. They'll repay the liability with "next day" operating cash. The longer we hold the MO, the more time they have to use the cash, and hopefully it buys them time to get their financial house in order.

They also collect the fee for the MO.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Reply #13)

Tue Aug 4, 2020, 08:06 PM

Hoyt (54,770 posts)

14. So, they run through the cash, then a bunch of folks redeem their money orders.

Sounds like a prescription for bankruptcy and a trump happy dance.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 05:28 PM

jimfields33 (14,208 posts)

7. So not only do you not make money but you have to pay for the

Money order? Not a good investment to lose money especially since the working poor are more likely to do this.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to jimfields33 (Reply #7)

Tue Aug 4, 2020, 07:51 PM

lastlib (21,499 posts)

9. Wouldn't claim it's a good investment--

It's a helping hand to an institution we need that Cockwomble and his crime ring want to destroy.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 07:58 PM

fescuerescue (4,448 posts)

12. That doesn't help that much.

It just sits in accounts payable fund until you cash it.

They can use the $1.50 fee they charge for the MO though immediately. They can also spend the interest earned off the MO.

Much better off buying $2 worth of stamps and using them. (using them frees the money, buying them - again goes into AP)

Reply to this post

Back to top Alert abuse Link here Permalink

Response to fescuerescue (Reply #12)

Tue Aug 4, 2020, 08:10 PM

lastlib (21,499 posts)

15. See post #13.

It goes into their books as cash on the asset side, and they have a short-term obligation (account payable) on the liability side. They can use the cash to operate, as long as the MO re-payment isn't demanded. Accounting 101--no business just sits on an accounts payable fund.

Reply to this post

Back to top Alert abuse Link here Permalink

Response to lastlib (Original post)

Tue Aug 4, 2020, 08:27 PM

gopiscrap (23,319 posts)

16. love this our son is a letter carrier

Reply to this post

Back to top Alert abuse Link here Permalink

General Discussion (Forum)