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If the government is pushing a cashless society, then the only fair measure to go with it is to limit the fees banks can charge on "cashless" transactions.
Otherwise, I'd rather go with the status quo and have the option to use cash (not that I mind abusing those reward credit cards for points.)
Considering that paychecks and other funds are deposited into accounts electronically, payments are made electronically, technically we are already cashless.
Theoretically you can conduct all your transactions without touching cash. Now you can convert money into your account into currency via a teller or an ATM.
You still need to make sure you have sufficient funds to cover your debits. And you still can easily use cash. Again, a source for this being a problem from something other than a blog touting economic collapse would be nice to substantiate.
Plenty of folks don't use cash now but I believe there will always be some transactions requiring it. I suppose if it is finally eliminated barter or some alternate currency will take over.
Location: Sitting on a bar stool. Guinness in hand.
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Well from my POV is not exceedingly surprising seeing our (U.S.) society moving from paper to card/wand/electronic transactions. I mean look what is money at it base??????? An abstract idea that basically the whole world has decided to use to place a value on good/services /labor/etc. that can be very easily traded for other good/services/labor/etc. The actual medium of that abstract idea is not nearly as important as what people have decided to accept as the medium of "money."
And while I know hard/paper currency will be around for a while longer. I think eventually if things stay on course (no major disasters that threaten the very existence of the human race) we should (I think) continue on the path of digitizing our monetary system. Whether this lead to things being better or worse for humanity, I really can't say. But I think it is inevitable. Welcome to the brave new world.
Oh yes. Just as a last thought. I think there will always be a little bit of bartering out there no matter what.
Last edited by baystater; 04-02-2012 at 10:30 AM..
What's not to like? I haven't been physically inside a bank in years. Cash is nothing but a pain. I rarely have cash on me.
What's not to like is the ultimate goal of the global elite is to microchip everyone, so that all of our transactions can be traced. We will be tracked like cattle. No one will be able to buy or sell anything if they are not microchipped. That's their ultimate goal---as always, it's about consolidating power and control in the hands of a tiny elite.
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