Imagine McDonald's makes its own money, let's call them clown-bucks
1–10 of 13 posts
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#2That reminds me that McDonald's did print their own money! It was their version of a gift-certificate, before magnetic-strip gift cards were around. You'd get a bound booklet of 5 imitation dollar bills, which you could tear off and redeem for the equivalent dollar-value of food at McDonalds.
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#3That reminds me that McDonald's did print their own money! It was their version of a gift-certificate, before magnetic-strip gift cards were around. You'd get a bound booklet of 5 imitation dollar bills, which you could tear off and redeem for the equivalent dollar-value of food at McDonalds. https://imgur.com/a/6U3o64p
Now imagine McDonald took a $10B+ loan and based on the collateral of the gift-certificates it has printed but hasn't given away. Because that is what is happening in crypto afaik.
I think this part probably didn't happen in real word before ...or did it? (hoping it didn't)
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#4That reminds me that McDonald's did print their own money! It was their version of a gift-certificate, before magnetic-strip gift cards were around. You'd get a bound booklet of 5 imitation dollar bills, which you could tear off and redeem for the equivalent dollar-value of food at McDonalds. https://imgur.com/a/6U3o64p
These were buried incredibly deep in my memory, thank you for the reminder
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#5Is this not how airline and hotel points work?
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#6Is this not how airline and hotel points work?
That's new. I didn't know I could buy points from those who make them and transact them between other accounts.
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#7Is this not how airline and hotel points work?
No, because loyalty points are unfunded liabilities on account sheets.
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#8Is this not how airline and hotel points work?
That's new. I didn't know I could buy points from those who make them and transact them between other accounts.
Funnily enough you actually can with airline points and there are websites dedicated to this economy of getting points then selling or transferring them to another airline where they are more valuable or useful (Singapore Airlines’ KrisFlyer program is very popular).
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#9Is this not how airline and hotel points work?
What airlines or hotels are taking out loans backed by their points?
That's the problem.
Re: Imagine McDonald's makes its own money, let's call them clown-bucks
#10Is this not how airline and hotel points work?
What airlines or hotels are taking out loans backed by their points? That's the problem.
All of the major US airlines did exactly this.
https://www.marketwatch.com/story/airlines-are-using-frequen...
Or am I misunderstanding your comment?