You asked who would benefit from a cashless society and who has a real
interest in a cashless society. I would say those whose financial house is
ready to collapse. I think this can be seen in a small way in the EU.
Countries like Greece and Italy stand out. To begin with their currency was
close to worthless when they joined the union. Now, once again, countries
like Germany and the broke France are trying to prop up the currencies of
Greece and Italy.
A single cashless financial system would benefit all of the countries with a
crashing financial system, maybe even the United States in a few years.
That's a great point about people who have an interest in maintaining
a cash economy.
I thought about that the other day when I was watching a report on
CNN. It was a news report about Bank of America and a new fee they are
charging for their customers who use debit cards. The reporter
interviewed several people who were angry at the new fee and they were
considering moving banks. The reporter then concluded by saying maybe
it would be easier to just use cash. Cash, really? That struck me as
a bit absurd. Not just from a practical standpoint, but from the
standpoint you mentioned. Shouldn't banks be encouraging people to use
debit cards and credit cards? Don't they have an interest in digital
currency that they can manipulate according to old practices (like how
long checks take to clear) but in reality, it's all instant? Here we
are in the 21st Century and the CNN reporter is telling people to just
use cash to strike back against BofA.
Great, just great, way to go BofA, guess you didn't get the memo about
promoting the beast system.
So, let's look at who has an interest in a cash economy vs. cashless.
Certainly criminals have an interest in maintaining a cash based
economy, they need those under-the-table trades for black market
goods. And thanks to police procedurals on TV, we all know that if you
are ever on the run, the last thing you want to do is use your credit
card. Who else? Maybe the Amish, they don't use technology, right? So,
no credit or debit for them.
Who has an interest in promoting a cashless economy? My first thought
would be the banks, but if BofA is unintentionally driving people back
to cash then maybe not.
In the post-9/11 world I would suggest that governments and law
enforcement have the greatest interest in promoting a cashless economy
because it's easier to monitor transactions and conduct surveillance.
It's easier to "follow the money" when it's all online. The argument
makes sense, but if there is a high-level awareness of this by
policy-makers I'm not seeing it. There are no indications that the
Treasury Department, for example, is looking to transition the U.S. to
a digital currency. They still mint coins and print paper money using
technology from the 20th Century. No one even talks about how much
money would be saved if they got rid of coins.
So, that's what I mean, there's no official effort to move toward a
cashless economy on a national scale, it's all just random and local,
if your bank charges you low fees for your card usage you probably go
cashless most of the time. If they add more fees you will probably
follow the CNN reports advice and use cash.
On Fri, Oct 21, 2011 at 8:17 PM, csras2002 <sylviapack@nets... <mailto:sylviapack%40netscape.net> > wrote:
> Hi Daniel
> I borrowed my daughter's car yesterday, and parked it in a street near her
apartment when I'd finished. I then rang her to tell where it was; she
texted the parking metre; no cash needed. If I go to the supermarket to buy
an avacado, or drive through McDonalds and buy a 60c icecream, or stop at a
coffee bar for a takeaway coffee, I use my Eftpost card, no cash. I but
something online from Joe Public and I transfer the money instantly to
their account by internet banking. They know it;s from me not only because I
say so but because the bank can trace it.
> I have always thought that the only thing slowing down the coming of the
cashless society, is the need for people everywhere to occassionally commit
crime. Money online can be traced, cash can't. All over the world, there is
corruption, theft, under the table deals, etc etc, none of which can be
achieved without cash.
> Just my cynical two cents' worth *smile*
> love and blessings
> --- In bible_prophecy-l@yaho... <mailto:bible_prophecy-l%40yahoogroups.com> , "Daniel" <jayjeti@...> wrote:
>> I've wondered how in a cashless society, should one ever be implemented,
how individuals could make transactions among themselves. Today I saw a
commercial where a group were at a restaurant, and they had one bill that
everyone needed to chip into to pay. One person paid the restaurant, and
the others gave that person their part of the bill by pulling out their cell
phones and sending money to his bank account. But one person pulls out his
wallet and starts pulling cash out of it, and the others look at him like
he's an idiot, and he looks embarrassed. The commercial says all you need
is their e-mail address.
>> I don't have a video of the commercial, but here's something similiar.
>> http://www.youtube.com/watch?v=4Uw5bMrZ3wU >>
>> http://www.youtube.com/watch?v=SA_L3Cc9VqI <http://www.youtube.com/watch?v=SA_L3Cc9VqI&feature=related> &feature=related
>> http://www.youtube.com/watch?v=aEurC8AUB2Y <http://www.youtube.com/watch?v=aEurC8AUB2Y&feature=related> &feature=related
>> I wonder if some day people might need an implanted chip to work in
concert with a cell phone so that someone oould not steal your cell phone
and key information and empty your account.
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