DuckSouth.com

The company I work for is making direct deposit MANDITORY. I don't like it. They say it's to save money.
Anyway, I was thinking about it, and cause and effect. More people are doing this, and I hear people say they pay bills online, and they never carry cash. If e-cash (I'll call it) is greater than the actual cash (paper money) in circulation does that decrease the value of the actual cash? So, by all these modern people not using the good ol AMERICAN dollar they are decreasing its value and making the economy worse. And my company’s solution to help the economic problem is fueling the very fire they are trying to put out.

Correct me if I'm wrong on this. Either way I'm old fashioned I guess, I want a pay check; I want to see my money come and (very quickly) go.

Ok, rant over thank you for your time

I've been on mandatory direct deposit for longer than I can remember. It's convenient to me.

If you have been use to going to the bank to cash a check every pay period then just change
that process to going to the bank to withdraw what ever cash amount you like to carry with you.
You will still be making a trip to the bank, just changing the process.

Green is green no matter how it is spent. You can go to an ATM and withdraw cash out of your checking
account and spend it the same as you can with using your debit card. In the end it all comes out of your
pot of money, and when it's gone it's gone, so to answer your question No I don't think people taking advantages
of convenience (sp?) is making the value of paper money any less. NOW OUR GOVT IS A DIFFERENT STORY......

I don't think that an e-dollar is worth more than a paper one, it just takes less time to print the check, sign the check, lick the envelope, etc. electronic payment is faster and therefore cheaper, because as we all know..time is money.

then thing that worries and bothers me, is some day you are going to get paid, and then there will be a city/county/statewide power outage, and you will not be able to get cash from the machine, pay your bills, or use your credit cards. what if the outage or disaster lasted for a couple weeks? in that case, cash (real cash-benjamins) is king..

Ok, If there just 1 billion dollars in America (cash and everything), but only 1 million cash in circulation. A failure of our eletrical system be it natural disatser or whatever. Then we only have a 10th of what we thought we had, thus we're only worth a 10th of what we say we are. Thats just using small numbers to keep it simple.

As has been mentioned, the value is only the backing of the US Government be it paper or electronic blips. The value of that dollar varies everyday with other world currencies.

A note of caution about e deposit for anyone who has had financial troubles and has a judgment enrolled against them. Funds in a bank account can be garnished just like your wages at work. Say your whole month's paycheck hits your account and a creditor then issues paperwork. If you have nothing else and are living month to month like most Americans you are screwed. If your employer is demanding you open the account structure it in such a way that you don't actually own the funds when they are deposited but are an authorized user. Say use a spouse, parent, sibling, someone you trust who want withdraw your money and go to town.

The guy above that stated something to the effect of the US dollar being just paper is absolutely correct. We have long been off the gold standard, and if you looked at our balance sheet as a nation, the overwhelming amount of debt doesn't exactly give you the warm and fuzzies. I don't understand your point about direct deposit either. If they gave you a physical check, what would you do when you cashed it, bury it in your backyard? Assuming the anwer is no (which may be a big assumption on my part), your likely next step is to deposit it in the bank. In which case, you are now to the exact same point you would have been if the check had been direct deposited in the first place.

And having been through the aftermath of katrina, if I had to stockpile things to trade, it would be in the following order: Liqour, cigarettes, gasoline. Gasoline might seem like the most important commodity, but you have to put it in terms of what its worth per unit of measurement (lets just say per liter). The liquor is worth far more, and trust me everyone wants it.