USPS making move to all “forever” stamps

posted by
December 30, 2010
Associated Press    
Posted in News, PND News

"Rummaging around for 1- and 2-cent stamps when postal rates go up is heading the way of the Pony Express. Beginning in January, all new stamps good for 1 ounce of first-class mail will be marked as 'forever.’ The move is designed to help customers cope with postage increases, a US Postal Service official said yesterday. The official requested anonymity to discuss a policy that has not been announced formally. Postmaster General Patrick R. Donahoe plans to announce the new policy Jan. 14, the official said." [editor's note: So now every time they bump the price, there'll be a black market for stamps? - SAT] (12/29/10)

http://tinyurl.com/38wm2dv  
  • paulwakfer

    Steve:
    It wouldn't be a "black market", but a perfectly legal service. That's what investing in futures is all about. There will now likely be a non-SEC-regulated free market in USPS stamps at various prices from speculators.

    Actually this move makes good sense for USPS, since for only the cost of a little paper, they will get considerable pre-invested capital to use. It is completely similar to the sometimes large discounts which are given by rental and other monthly payment services for prepayment in full.

    For example, as a result of my decision to terminate my use of PayPal, Visa and MasterCard because of their treatment of WikiLeaks, I ended up getting a 24% discount off next year's bill from my website host.

  • Paul's absolutely right — this won't be a "black market," or even a "gray" one (except to the extent that profits may go untaxed, but that possibility isn't peculiar to this particular product).

    I'd be leery of investing money in "forever" stamps and planning to resell them at a profit over anything like the long term, though. In politics, "forever" isn't a trustworthy term. At some point when the USPS is in a particularly bad hole, they'll start blaming "stamp speculators" for "costing" them new postage sales and get permission from Congress to declare the old "forever" stamps void.

    • paulwakfer

      Tom wrote:

      "I'd be leery of investing money in "forever" stamps and planning to resell them at a profit over anything like the long term, though. In politics, "forever" isn't a trustworthy term. At some point when the USPS is in a particularly bad hole, they'll start blaming "stamp speculators" for "costing" them new postage sales and get permission from Congress to declare the old "forever" stamps void. "

      I totally agree with Tom here.
      Never, never trust the "word" or even the contract of a government employee, agency or even a nominally independent agency (such as USPS or the FED), since they can always and easily breach any agreement without penalty by simply getting the congress to declare their action legal. Such is the absolute power of the State.

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