General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIf 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)
Dennis Donovan
(18,770 posts)Although I don't know how the USPS handles their $$$, this makes sense.
redstatebluegirl
(12,265 posts)Disaffected
(4,547 posts)what happens to your money if the post office is finally driven by the Repugs into insolvency?
CaptYossarian
(6,448 posts)NightWatcher
(39,343 posts)I was led to believe that mgmt is slowing them down.
lastlib
(23,171 posts)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.
Hoyt
(54,770 posts)$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.
lastlib
(23,171 posts)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.
Hoyt
(54,770 posts)But maybe it helps, which is good.
Dont really believe GOPers will let them go under, thats why they approved the $10 Billion loan in March.
lastlib
(23,171 posts)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.
Hoyt
(54,770 posts)Sounds like a prescription for bankruptcy and a trump happy dance.
jimfields33
(15,710 posts)Money order? Not a good investment to lose money especially since the working poor are more likely to do this.
lastlib
(23,171 posts)It's a helping hand to an institution we need that Cockwomble and his crime ring want to destroy.
fescuerescue
(4,448 posts)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)
lastlib
(23,171 posts)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.