More Insight On a Cashless Society

Discussion in 'Markets & Economies' started by betterinvestmentthanshare, Aug 27, 2019.

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  1. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    What exactly of mine is being confiscated?
     
    mmm....shiney!, Apr 26, 2024
    #21
  2. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Sounds like you didn't hear about the Canadian Truckies Strike?
     
    GoldenEye, Apr 26, 2024
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  3. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    So what @Pirocco is trying to argue is that a cashless society can result in governments freezing my bank account?

    That can happen already. We don't need to go cashless.
     
    mmm....shiney!, Apr 26, 2024
    #23
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  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    That's what I like most about cash is not needing a bank. I do use it for online orders but other than that I might keep 50 bucks in there.
    The whole point is to not be stuck in a bank.
    For the simpletons I think convenience would outweigh any freedoms they would need to give up.
    As long as they can grab some McDonald's to shove down their pie hole on the way to the big game they are happy.
     
    JohnnyBravo300, Apr 26, 2024
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  5. Davros10

    Davros10 Well-Known Member Silver Stacker

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    Actual confiscation isn't necessary. The threat of, and ability to enact, is enough to chill speech and control thought.
     
    Davros10, Apr 26, 2024
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  6. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    Inflation will eat it away long before and its the best way to steal wealth.. Inflation is the easier backdoor method and they can blame "the greedy corporations" for shrinkflation like Brandon did during the Super Bowl.
    Most of America was watching and cheering his mumbling speech I'm sure.
    They will follow him right off the cliff.

    Confiscation will come during the bail ins later on.
     
    JohnnyBravo300, Apr 26, 2024
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  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    So it seems that any suggestion that going cashless is part of a plan to confiscate our assets is banal.
     
    mmm....shiney!, Apr 26, 2024
    #27
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  8. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    That depends entirely on your goals. If for example you want to utilise the advantage of a debt arrangement then you'll have to provide a history of income and expenditure. And for that you'll need bank statements and a credit history.

    No one can do that if they're "unbanked", it's one reason why defi was created.
     
    mmm....shiney!, Apr 26, 2024
    #28
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  9. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    I've heard plenty of good reasons to keep cash around, not any to get rid of it entirely.
    They should really be making the case if the best excuse is that it can carry Covid.
     
    JohnnyBravo300, Apr 26, 2024
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  10. Hypnotic

    Hypnotic Member

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    Insight... 10 people in line and a few behind our family at a popular bubble tea place. The look of horror when they couldnt pay digitally. Needless to say we were wrapped and jumped the que, some still carry cash in their wallet ;-)

    https://quickshare.samsungcloud.com/oN5pzzYT3Ia0
     

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    Hypnotic, Apr 27, 2024
    #30
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  11. precious roar

    precious roar Active Member

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    My default reply when someone says "who carries cash anymore?": Adults do.
     
    precious roar, Apr 28, 2024
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