We went on a vacation and saw in Ohio a gas pump with a built-in cash machine that would accept $100, $50, $20, $10, $5 and $1. You can pay at the pump instead of going inside to prepay and start the pump. This one-armed gas pump bandit will be the wave of the future in all 50 states soon.
The credit card companies won’t like this competition at the gas pumps – plastic money versus the greenback-cash-king.
Also, I observed another thing happening on the East Coast that will spread like a wildfire in all 50 states: Arab people owning gas stations with control of Petro fuel. The Arab gas station owners will give people a 15-cent a gallon discount if they pay with cash. Where else in America could this happen?
The credit card companies will lose billions of dollars.