Even if "they" introduce cashless society as a standard mode for world to operate,
people will find another means to trade.
There are always thing like valuable metals, ore or jewels.
Barter trading will get reborn again. Im more then sure that when its needed some
new unknown ways for easy trade will be invented.
Topic: Why we should fear a cashless world - page 32. (Read 9827 times)
Well in case some didn't knew, Sweden was the first cashless country since past 4 or 5 months (IIRC) and they haven't suffer any problem so far and the route for other countries is surely the same, it's just the matter of when it will happen. Some say cash is good and they could leave without the need of other monetary systems like credit/debit which is connected to banks and online options like BTCitcoin. We can't hold too much of cash at our hand or disposal but we could have them saved on either banks or in our BTCitcoin wallets (no matter how large the amount). Some sited that the poor people would be the ones who will suffer the most for this evolution but surely there will be a way for them as well although it's not going to be a smooth one. We never know, maybe in the near future, every single person will have a single card (regardless of being rich or poor) and all their wealth automatically stores there (still long way though) or even some sort of genetics wallet, connected to someones genes only.
I think we will never reach cashless world till USA is printing money. It will hit its economic system and bring it to default.
Cashless world as mentioned in the document, it will ruin the poor and the growth of small scale traders. On the whole the technology will make changes but it should be developed in a equal manner to reach all.
It's our fault this has happened. Hands up those who use credit cards simply to get cashback (which is a small rebate on the fee VISA charges the vendor)? We did this. Once the majority are using cards, it's easy for govts to argue, "why not scrap cash, it is expensive to print it and no-one uses it".
5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.
This is the worst point of the system. At this point laws can manipulate any person on the planet to do anything.
A cashless society is giving complete control over to the bankers.
When implemented (which will happen sooner rather than later) you can expect the following -
1) Negative interest rates - spend your money or watch the balance shrink daily
2) Bail in's - Laws already in place, you are classed as an investor in the bank. When the bank folds you loose your cash.
3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.
4) Every transaction you make is logged and audited.
5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.
When implemented (which will happen sooner rather than later) you can expect the following -
1) Negative interest rates - spend your money or watch the balance shrink daily
2) Bail in's - Laws already in place, you are classed as an investor in the bank. When the bank folds you loose your cash.
3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.
4) Every transaction you make is logged and audited.
5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
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