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Digital scamming has continued to be on the upsurge.
Seen debit cards /credit cards compromised.
Just yesterday I got a scam email that said I had a 'credit' refund due, that was from a world known bank. I laughed since I have no credit card with them and absolutely do not use the peer to peer network to pay a person.
Yet my cash in my secured area hasn't been tampered with.
Sorry folks, cash during this time is still accepted.
Correct that digital monitoring continues to see where folks are spending or investing.
Currency that is tangible form, whether that be cash or even gold/silver, will have a distinct advantages for a long time yet.
The last Friday of every month I place two envelopes on a table in my backyard, one has the name of the pool guy and the other the yard guy. Both are very happy and prefer receiving the cash in each envelope.
The last Friday of every month I place two envelopes on a table in my backyard, one has the name of the pool guy and the other the yard guy. Both are very happy and prefer receiving the cash in each envelope.
I've got mixed feelings on that. I paid my son's caregivers for years with a check but I'm pretty sure they never reported the income. When asked if they were willing to supply their SSN so I could use my FSA and/or get the child care credit on my taxes, they were not. I figured they were excellent with DS and that was most important. (Sorry, the statute of limitations is up- DS now has kids of his own.)
So- I've been guilty of contributing to the underground economy but now it annoys me. Every darned dime I've made other than babysitting as a teenager has been reported to the gubmint and taxed at the applicable rates. I hire people who do things on the books even though it costs more.
I lose money if I use cash. My credit cards pay me cashback bonuses every month for using them. I pay them off so I never pay interest. In effect, my credit cards have a negative interest rate. I have never gotten a cashback bonus for using cash.
And, using credit cards comes with a fraud and theft guarantee. If you get ripped off during a cash transaction, you are out of luck.
Wisely used credit cards are superior to cash. Paper money is so last century ;-)
No, if anything, the value of money would go down. That would not make cash disappear but much less valuable. Similar to the German currency after the Treaty of Versailles. Cash can't just disappear, it's always in circulation, somewhere.
Power blackout is the most immediate digital currency failure. Later there's grid reduction as the energy cost rises. I expect barter and other arrangements will mostly replace cash, which will be more precious metals and less wiping paper.
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