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 Replies: 86 / Views: 7,685 |
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Valued Member
United States
66 Posts |
oh, you are making me feel old. I told my group of nephews (about 18 years ago) how sometime in the future we would be using nothing but credit cards... we are certainly closer to that, but I bet the lack of progress over the next 18 years is just as remarkable.. :)
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Valued Member
United States
320 Posts |
I was watching a special on Bernie Madoff this evening on (I think) MSNBC... and one thing that struck me is that the move away from cash is "supposed" to help with theft, is "supposed" to be more convenient for the consumer and is "supposed" to be easier to track, with the statements and whatnot... whereas here is one of the biggest thefts in history, and it all was stolen and disappeared invisibly and seamlessly into the ether.
If he stole 65 billion in "real" or more accurately "physical" dollars, he certainly wouldn't keep it under his mattress!
I know that the whole Madoff thing is not necessarily analogous to your debit/credit card, but it makes a person think. E-money is the ultimate in portability-more portable than cash, gold, even diamonds. Just by knowing an account # or having a chip implanted in my tuckus, I could theoretically have a billion dollars on my person and move it to another country more anonymously and invisibly than cash. Gee, wonder what type of person or line of "business" would most benefit from that sort of portability? Fight the black market by making a black-hole market.
Edited by Secret Argent Man
09/15/2010 01:40 am
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Pillar of the Community
Germany
992 Posts |
Quote:Did you all see the article about Sweden going cashless in the next few years? http://www.numismaster.com/ta/numis...icleId=13953 This "news" has been making the rounds for weeks in European coin forums/communities. It's not taken too seriously. Frankly, the BBC has overblown it. Europe is way behind in credit/debit/charge use compared to North America and the privacy issues are much more important to Europeans than Americans, although Sweden is on the top of giving away privacy (just read a crime novel by Liza Marklund and shudder what even a journalist, normal citizen resp., can find out about someone living in Sweden -- and those parts of her books are not fiction). On top of that, Sweden cannot go cashless if the rest of the Union does not follow, and that just will not happen within the next 20 to 30 years. |
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Bedrock of the Community
United States
20753 Posts |
Quote:
I am not saying whether it is right or wrong, but cash will go away eventually.
The only question is how long it will take. Actually the answer to this is really simple. As soon as our and other governments realize that if everything is done with credit or debit cards, they can keep track of all spending. This means ALL types of taxes can more easily be impossed. ALL sales taxes will be mandatory. All amounts of expenditures can be compared with income tax reports. ALL incomes can be exactly documented. ALL Tarif types of taxes can be properly monitored. JUST ALL taxes can and will be paid or else.  These taxes will be needed to pay for all the Mint workers now being layed off due to no work.  |
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Valued Member
United States
397 Posts |
At which point all activities the populace wishes to keep private will be done through the barter system. And not with bullion either - since someone would have to convert that to electronic cash. I'm talking chickens and eggs for flour and grain type of barter.
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Pillar of the Community
United States
1450 Posts |
Justcarl,the government ALREADY realizes it,they are now laying the groundwork for us to accept it without a fight. Conenience and portability will be the selling points. All bills will be paid directly from your account as will all income go into it. People will not have to do ANYTHING if you just sign your name on the line and let us implant this little microchip. Oh,by the way, we will also know where you are and who you are with at all times! BUT it will be CONVENIENT!
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Valued Member
United States
364 Posts |
I said years ago this was going to happen and was called a fruitcake. I told people it would start with the magical words "protect your child".
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Valued Member
United States
397 Posts |
It wouldn't surprise me to learn there is something in that debacle of a health bill that was just passed. Something along the lines of "ensure accuracy and portability of all medical records". Simply put all medical information on an implanted chip that can be scanned by any doctor. Just a short step from that to putting financial data there as well.
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Pillar of the Community
United States
1450 Posts |
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Bedrock of the Community
United States
20753 Posts |
As I mentioned previously, Science fiction stories of yesterday that predicted things like flying machines, submarines, etc. were laughed at in the past. The government controls with a computerized monitary system is only the start. Some time ago a book called 1984 was also laughed at but we are getting there now.
Wonder if they are monitoring this forum. Hey what's that knocking at my door? NO, NO don't take me awayyyyyyyyyyyyyyyyyyyyyyyy
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Valued Member
United States
61 Posts |
You guys seem to have this pretty well figured out; so I have to ask, since I think it's all crap (said with all due respect, which is what people say to keep from getting hit), HOW does the fed affect the money supply if they don't print money in this cashless world you'll be living in?
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Pillar of the Community
United States
1450 Posts |
They simply add the money digitally. That is how it is done today. There are not actual dollar bills out there equivalent to the dollar amounts in circulation. If you just push a button and the money is added to an account it is the same as printing money,then you just transfer it around from account to account(kind of like a credit card).
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Bedrock of the Community
United States
20753 Posts |
Quote:
You guys seem to have this pretty well figured out; so I have to ask, since I think it's all crap (said with all due respect, which is what people say to keep from getting hit), HOW does the fed affect the money supply if they don't print money in this cashless world you'll be living in?
As already noted they DON'T print any more money at all. Why bother since it will not be used. Now the Government saves on paper for currency, metal for coinage, ink for currency, presses for both, trucks to carry that stuff back and forth, even the bags for coins will not be necessary. They can shut down the Mints, lay off all those workers at the Mint. Tear down the Mint buildings and put up more Starbucks and Walmarts in their places. It may all sound silly but if you really sit down and think of all the money we spend on making our monitary system, the government could really save a fortune by not having cash around. Imagine the cost of just keeping a Mint building in operation. Gas, electrical, water, phones, computers, faxes, printers, lawn care, building maintenance and just all for the building itself. Parking lots maintained and lite up. Safety precautions. And on and on and on with expenditures that don't even really make the money but just to have a place to make the stuff. Of course the real down size is just what will happen to companies like Dansco, Whitman, Littleton, etc. since no more coin stuff to make. |
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Valued Member
United States
341 Posts |
The company I work at just recently ask every to not require a "paper" pay check, as a move to be more green. It was on a volunteer basis. Whoever wanted would get a link to view there virtual stub.
The whole idea of going all digital is interesting, but I think it wont be for a very long time.
Yes, there has been great strides in technology, but I can remember growing up in the seventies and news programs would discuss," by the year 2000 we will have visited Mars and cars would be more like hovercrafts.
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Pillar of the Community
Germany
992 Posts |
This is how Germans paid their bills in 2009:
---cash: 59,1%
---"ec-cash" [you insert your bank account card into a machine -- similiar to the ones used in the USA for credit cards -- and enter the PIN number and the money is immediatley withdrawn from your bank account): 19,4%
---"ec-debit" [you insert your bank account card into the machine mentioned above and get a receipt which you must sign, and the money is withdrawn from your account within 1 to 3 days]: 12,2%
---credit cards: 5,2%
---debit cards: 0,7%
---other means: 3,4%
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Posted 09/15/2010 01:39 am
