For or against cashless society without banknotes? (bankrupt, 2015, expenses)

[newtocolumbia]

We travelled around Europe, never a problem to pay with cash until we arrived to the Kingdom of Cashless. Keep insults to yourself. I must be an idiot by not wanting to deal with credit card debt, theft of funds etc. I have good reasons to not use or even carry cards. Been robbed by skimmers and all kinds of loss in tens of thousands just by using credit and debit cards. Take a look at the stats, more than 80% people do not want cashless. I could also say the same about you.

Death to Credit Cards!

[Larry Caldwell]

Really? They won't take Euros in Sweden? Or did you show up with US dollars and expect Swedes to take them?

You can always exchange money on the black market, but it's really expensive.

[Muevelos]

The US Dollar ins't universal. Why you would Expect another country to conform to you, is beyond me. Anyhow there were steps you could have taken beforehand and I believe the problem more so was you, not an entire country.

[Thatsright19]

I use cash less than 3 times a year already.

[newtocolumbia]

Originally Posted by lieqiang

You traveled to Europe and didn't bring a credit card?

Your problem isn't Sweden, it's your decision making abilities. That was just idiotic.

Did you read my post? I wrote:

"I believe Sweden disrespected us and violated our human rights by not accepting cash in Swedish Krona."

[1am3laine]

Cash is the best way.
When power outages happen you can't use electronic payments.
Say NO to the cashless society.

For more info check my link below
The Secrets of The Gospel: Cashless Society? Neg Interest Rates? = Bad Idea

[MinivanDriver]

Originally Posted by phlinak

What is the paranoia some of you have about the government or banks knowing what you buy?

Unless you're engaged in criminal activity, why do you think either one even cares?

You obviously have been in a coma for the past twenty years. From the expanded powers of the NSA to hackers galore, your financial records are out there for everyone to see. The snooping is pervasive.

There are plenty of purchases that are perfectly legal that you might not want the world to know about. Let's start with the obvious, legitimate ones such as an adult store or, depending on the state, places that sell marijuana. Are you really wanting those purchases to become public knowledge? I've never wandered into an adult store in my life, and I haven't twisted one since I was sixteen, but I can see all kinds of potential for abuse. I mean, hell, just a couple of years ago some adult hookup site had its paying members exposed quite publicly. That's the danger that occurs when some computer nerd from Kazakhstan accesses what you do with your money.

Or, let's get really pedestrian. What if you want to keep a purchase from your spouse? I mean, I take out a few hundred bucks every year around Christmas time for the explicit purpose of buying her Christmas presents, a lesson learned from ten Christmases ago when she knew exactly what I bought her and what I spent days before the holiday. Just the simple ability to stage a surprise party becomes next to impossible if you're married to someone who checks the account balance on a daily basis.

Further, as some people have pointed out, what happens when the power grid goes out or the internet goes down? Hell, the entire territory of Puerto Rico was without power for months. An area ravaged by a hurricane might not see power for a week. What the heck are those people supposed to do? I mean, we get the occasional hurricane spinning up out of the Gulf. When it's coming, I typically get a grand in cash out of the bank just so we can pay for groceries and other essentials--just in case.

Finally, I don't think some people realize how close we came to a systemic collapse of the banking system in 2008. I have a nice, conservative investment adviser who is not inclined to seeing black helicopters or the whatnot. But when he advised me to take $5,000 out of the bank just in case, I listened. A few days later, I put that money back in.

And those are specific reasons. More importantly, why does the government have a right to know? That's the problem with a cashless society. It tacitly allows the government to see what you're buying. I'm trying to figure out why it's their business.

[PacoMartin]

The answer to this poll is a foregone conclusion. Only a small percentage of people in the USA are for a cashless society. Even in Sweden, the majority of people who themselves are cashless, feel that it is a fundamental human right to carry cash if they want to.

I suspect that Swedes would be opposed to two possible measures being considered by other countries: (1) South Korea is planning to declare that coins are no longer legal tender in three years, (2) the United Kingdom is considering eliminating the £50 banknote and only having the £5, £10, and £20.

Remember that Sweden went through a period (2001-2007) where the rate of increase of cash was minimal. then they went through a period when cash diminished very slowly (2007-2012). After that circulating cash was reduced by 50% in about five years.

The USA is at the first stage only. You should poll about the possibility of keeping the amount of circulating cash steady for a five year period long before discussing cashless society.

I do favor the idea of keeping the value of circulating cash in the USA steady for five years. I think we are damaging the value of the USD banknote by increasing circulation at a rate far in excess of GDP growth.

[kevinm]

Originally Posted by Thatsright19

I use cash less than 3 times a year already.

Me too. I NEVER carry cash. If a business won't take plastic, they don't get my business. I was bothered once lately when trying to get a haircut. The place I usually go was backed up and all the barbershops in the area only take cash. What are THEY trying to hide???

[ncole1]

Against a cashless society because it prevents transactions in emergency situations without electricity, because it reduces privacy from snooping government eyes, and because it leads to discrimination against people who cannot identify themselves or sign contracts (for example, illegal immigrant, under 18, impoverished, etc.)