Not only do Starbucks sell crap coffee, they are totally woke, and are also running a financial scam. It's a real shame they are going bankrupt. Not...
They quietly engineered one of the largest interest banking systems in the world, and most people have no clue. On the surface, Starbucks is a coffee shop, but behind the scenes, they are a powerful financial institution.
Starbucks launched their “rewards program” back in 2009. Seemingly benign, it’s like a punch card program. After you purchase 10 drinks, you get a free drink. Here’s how it really works. Customers preload money via an app or in store. Starbucks immediately gets the cash. You get “stars”...
This is digital currency. You redeem the stars for drinks at a later time. When you add $25, $50, $100 to your account, Starbucks immediately uses your money to finance operations, they collect the interest and they invest your money, and they pay you nothing.
35 million people preload money into their app, which, to Starbucks is like getting an interest free loan. Over 10 billion dollars is loaded into their app annually. Of that, over $155 million dollars is kept by Starbucks, because of lost or forgotten cards.
If Starbucks were a bank, they would rank in the top 2% of US banks by deposit. Preloaded cards make you spend more, because you don’t actually “feel” the purchase. You don’t track it, and you buy more frequently, with less resistance than if you used cash.
Starbucks knows this, and now so does many other companies. This scheme is so successful, other American companies have adopted similar strategies with their own cards and apps. Apple Card, Amazon Pay, Walmart Card, KFC, Target Wallet and Costco Financial Services. All these companies are acting like banks, but without being regulated."
This post is a lightly edited copy of a Facebook post by Lou Casbarro which can be found here: https://www.facebook.com/loucasbarro777nyylI7Il34klalI7
All coffee is toxic poison, and Starbucks is a particularly toxic business.
