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Oh, I have absolutely no doubt whatsoever that this is what they want -- I did read two of Schwab's books, The Fourth Industrial Revolution and COVID-19: The Great Reset -- and it is absolutely clear that they are pushing that and want that -- but I am saying that it will not be a completely cashless society for the reasons I mentioned UNLESS there might be some sort of 'gift card'-like credit card (such as a Visa gift card) in which people will buy and hand out to those people.
That being said, however, I still think that there will be some major resistance to going completely cashless judging from some of the posts on this thread (and I also would be one of those people). 'They' control your finances and they control YOU. No, thanks.
What would you guess your share or percentage of your transactions are cashless now? I am guessing 95%+ of mine are. Obviously, nearly 100% of that 95% is voluntary on my part, but I’m perfectly comfortable operating that way. If the benefits of going cashless were to eliminate/reduce tax fraud, money laundering, reduce financial/organized crime, etc. I’d certainly be open to a more compulsory system. I can understand the reluctance others might have…it is not an argument without legitimate merit.
When is the last bank failure that resulted in deposit holders being denied access to their funds? I’m asking because my only experience with this was a failure of a relatively small institution where I had some funds. The bank was shuttered on Friday, and by Monday, a new institution was in place and all of my funds were accessible. For all I know they may have been accessible on Saturday via an ATM….I didn’t try accessing them that way. The FDIC appears to be pretty efficient at finding institutions to take over failing ones, and ensuring people have access to their funds.
Don't know about the US, but in China it was July 2022.
I don't know that printed money will disappear, but we're sure moving in the direction the OP indicates.
Oh, I have absolutely no doubt whatsoever that this is what they want -- I did read two of Schwab's books, The Fourth Industrial Revolution and COVID-19: The Great Reset, and it is absolutely clear that they are pushing that and want that -- but I am saying that it will not be a completely cashless society for the reasons I mentioned UNLESS there might be some sort of 'gift card'-like credit card (such as a Visa gift card) in which people will buy and hand out to those people (the very poor and the very young).
That being said, however, I still think that there will be some major resistance to going completely cashless judging from some of the posts on this thread (and I also would be one of those people). 'They' control your finances and they control YOU.
No thanks.
They already control our finances.
Who do you think caused inflation ?
Who controls interest rates ?
Don't know about the US, but in China it was July 2022.
I don't know that printed money will disappear, but we're sure moving in the direction the OP indicates.
Kinda reaching pretty deep into the hat to pull out that example aren’t you? I’m not sure that would be terribly relevant to answering the question I was asking. And I’m asking because I don’t know.
What would you guess your share or percentage of your transactions are cashless now? I am guessing 95%+ of mine are. Obviously, nearly 100% of that 95% is voluntary on my part, but I’m perfectly comfortable operating that way. If the benefits of going cashless were to eliminate/reduce tax fraud, money laundering, reduce financial/organized crime, etc. I’d certainly be open to a more compulsory system. I can understand the reluctance others might have…it is not an argument without legitimate merit.
Oh, there is no way I can guess now. When I was working at Borders about 15 years ago, I would say that about 15-20% of customers paid cash for their books, but that is just a guess.
Right now, we pay for all our groceries, entertainment (including dining out), and gas in cash, which is about 25% of our outgo, but based on what I observe when grocery shopping, I would say that we are definitely in the minority.
Also, I don't know if this has been mentioned yet, but another MAJOR problem I would have is what would happen if there is some kind of a glitch in the 'payment/account' card not being accepted. In the past five years, I have had my credit/debit card denied three times for absolutely no reason (I called the company when I got home); and I was just glad I had different credit card or cash as back-up -- and I know I am not the only one this has happened to.
Interestingly, in my state gold is legal tender by law. There aren't too many places around right now that actually use it as currency (a few), but I would imagine in the event these vermin inflict their "cashless society," there will be more and more local businesses willing to barter with gold or silver. I know of at least two local banks who have stated they will not comply with some of these measures that are designed to erode individual liberty and wealth.
Apt description. These "people" are the ones inflicting the "climate change" restrictions and EV requirements on us. They can UBER their way anywhere, get a LYFT anywhere; us peons are being asked to share vehicles. But back to topic; they want control. Total control. And manipulating the currency and the electric grid definitely gets them there.
I am sorry, Mrs. Kristina. You have been posting comments online that don’t align with the party narrative. Therefore, your ability to purchase food has been suspended indefinitely.
Future looks bright indeed.
Quote:
Originally Posted by Three Wolves In Snow
Remember when we were called 'conspiracy theorists' when we tried to tell people what was coming?
After this, it's "social credit scores".
And after that...chips implanted...for your 'convenience', of course.
Quote:
Originally Posted by tamajane
Yes it's already happened with banks and credit cards monitoring activity for political reasons. Once everything is connected and controlled, without being able to use cash you can just be shut off from purchasing anything.
Quote:
Originally Posted by retiredcop111
Just makes easier for the government to seize your money.
Quote:
Originally Posted by TMSRetired
World governments saw how China was able to control their people through digital means during the pandemic.
They want that type of power too.
Don't be so naive to think governments are altruistic.
Quote:
Originally Posted by Taratova
And the powers that be can wipe out your digital currency. Oops .
You are now at the mercy of the banks and governing body. They will give you a handout of bugs to eat.
The above posts are those who really understand what the goal is.
Thankfully, I think it will still be a few years down the road.
We should be concerned with what our children (or grandchildren) will experience.
Who do you think caused inflation ?
Who controls interest rates ?
Well, yes, of course you are correct -- but I meant as far as having the ability to freeze individual personal accounts, for example. Some people have claimed this has already happened (and, personally, I don't doubt it) -- but what happens if this become commonplace? (For example, I have read articles about someone claiming that Amazon froze their Amazon account because the person was not not politically correct enough for their standards, IIRC -- plus most of us have heard about the idea of expanding this control to some kind of system to monitor vaccination status.)
Now, again, whether all these things are actually something to worry about, I don't know -- but I am at least suspicious of such plans.
Oh, there is no way I can guess now. When I was working at Borders about 15 years ago, I would say that about 15-20% of customers paid cash for their books, but that is just a guess.
Right now, we pay for all our groceries, entertainment (including dining out), and gas in cash, which is about 25% of our outgo, but based on what I observe when grocery shopping, I would say that we are definitely in the minority.
Also, I don't know if this has been mentioned yet, but another MAJOR problem I would have is what would happen if there is some kind of a glitch in the 'payment/account' card not being accepted. In the past five years, I have had my credit/debit card denied three times for absolutely no reason (I called the company when I got home); and I was just glad I had different credit card or cash as back-up -- and I know I am not the only one this has happened to.
While I am confident there could be contingencies for “outages”, you are correct. It is, and would, and continue to be prudent to have a back-up method for conducting financial transactions.
It’s interesting….I am probably at 5% cash transactions; you are at 25%. Big difference, yet we both use electronic transfers of some kind to conduct the majority of our transactions. In general, I think people are comfortable with conducting business in this manner….just part of their daily routine now.
It's interesting when leftists caterwaul about the "evil" all-too-powerful corporation, yet they adore all-too-powerful government. I hate to pop your bubble, leftists, but that corporation that you hate so much is a GOVERNMENT CONSTRUCT that would NOT exist in the absence of government. So when you bash corporations, you are essentially bashing government.
You claim that the corporations are running the government and that that is a bad thing, yet you don't even see that under a socialist government, you are essentially turning the government INTO a corporation with ABSOLUTE power, not just influence power.
Quote:
Originally Posted by WVNomad
I’m going to go out on a limb and say that your statement regarding the two banks claiming they will not comply with “these measures that are designed to erode individual liberty and wealth” is fabricated. If you have evidence, please share. If you do, I sincerely apologize in advance for doubting your truthfulness, and promise to give all of your future claims the legitimacy a person of integrity deserves.
I'm not going to do your homework for you. If you are that interested in Utah politics, search some of the local newspaper archives and local TV station news snippets. It was quite widely discussed in the area a few years back. And due to the predominant politics and religion around here it is quite often a factor for residents when they choose a local or regional bank over a national bank like Wells Fargo, Chase, etc. Utah is different in many ways compared to those areas that have been infected with leftism (well, besides the SLC area, that is). That's why we have the "gold is currency" thing and you likely don't. Once you get out of the SLC metro area, things are still pretty decent around here--not a blue cesspool. Yet.
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