Cash.. Who uses it anyway

R

Rad Dood

Member
So the U.S is printing more fiat money.
As mentioned so many times across countless threads on this forum,questioning the value and security of the pieces of ink and paper. Governments decree that the green paper coupon with the number 100 printed on it is worth a lot and we all go "ooooh!" I've got to have it..Well stop and consider, who uses cash these days anyway?
Just about everyone I know conducts over 90% of personal and business financial transactions electronically.
So mankind has gone from bartering everything from ochre to food.Then thanks to the Chinese and Indians,trade began using Gold,silver and silk as a currency.This seemed to work for countless empires.Then again the clever Chinese streamlined the logistics by inventing Fiat currency in the Yuan dynasty.
( I reckon It might have taken some time for the gold hungry warlords of the time to convert but they did..)
So the paper currency that was aligned to a model of gold standard worked for another thousand years or so.Cash became King.
Then along came tricky Dicky Nixon who abolished the gold standard resulting in the question being raised again,"What really is the worth of these bits of paper"(Confused yet?- it gets better)
Within the next decades the banking sector and the computer giants became very passionate bed fellows.
From this copulation was born an electronic trading system. How weird. Now all trade is conducted in bits of data or binary code.
Has the worlds greed for wealth sent it mad?
Honestly.. How much of this can you hold in your hand.
Just because a computer screen shows a series of numbers with your name beside it,we are convinced that the value shown is your wealth.
The question I ask,is how much control does the banking sector have over people's money. Answer - Total control.
They have it all and funnily enough want more..
This is where the beauty of PMs come in.
A tangible piece of gold or silver that can be held in the hand.When the lunacy reaches a crescendo, hopefully my little stack will provide a tradeable asset that another person may like to exchange for a service or goods,we will shake on it and part ways happy with the transaction . Cash who needs it.
 
Here in Bundaberg...Cash was king for some time. :)

No cash, no goods.

Regards Errol 43
 
Rad Dood said:
So the U.S is printing more fiat money.
As mentioned so many times across countless threads on this forum,questioning the value and security of the pieces of ink and paper. Governments decree that the green paper coupon with the number 100 printed on it is worth a lot and we all go "ooooh!" I've got to have it..Well stop and consider, who uses cash these days anyway?
Just about everyone I know conducts over 90% of personal and business financial transactions electronically.
So mankind has gone from bartering everything from ochre to food.Then thanks to the Chinese and Indians,trade began using Gold,silver and silk as a currency.This seemed to work for countless empires.Then again the clever Chinese streamlined the logistics by inventing Fiat currency in the Yuan dynasty.
( I reckon It might have taken some time for the gold hungry warlords of the time to convert but they did..)
So the paper currency that was aligned to a model of gold standard worked for another thousand years or so.Cash became King.
Then along came tricky Dicky Nixon who abolished the gold standard resulting in the question being raised again,"What really is the worth of these bits of paper"(Confused yet?- it gets better)
Within the next decades the banking sector and the computer giants became very passionate bed fellows.
From this copulation was born an electronic trading system. How weird. Now all trade is conducted in bits of data or binary code.
Has the worlds greed for wealth sent it mad?
Honestly.. How much of this can you hold in your hand.
Just because a computer screen shows a series of numbers with your name beside it,we are convinced that the value shown is your wealth.
The question I ask,is how much control does the banking sector have over people's money. Answer - Total control.
They have it all and funnily enough want more..
This is where the beauty of PMs come in.
A tangible piece of gold or silver that can be held in the hand.When the lunacy reaches a crescendo, hopefully my little stack will provide a tradeable asset that another person may like to exchange for a service or goods,we will shake on it and part ways happy with the transaction . Cash who needs it.
Click to expand...


Interesting take. I enjoyed reading it. It's been said a bazillion times before in as many different ways. Sure there will be oche, silver, fiat, electronic data being used as a measure of your financial wealth. You talk about the world's greed for wealth sending it mad. Since mankind has been using money and stuff as a measure of their wealth, by and large there will always be greed. When 'takers' took over and wanted to abandon traditional ways of life, it opened up a new world of problems. You can regard 'the beauty of pms' as some saviour, in the past and possibly into the future, but you're going to be facing the same problems you have been faced with your whole life. Having to work daily for 8 or more hours a day to live - unless of course you wiggle and squirm and try as you might to take the gold and silver from others to support a greater lifestyle (it's called investing).

Right now, however, unless you're a part of a unique community who only trades in silver and gold you're going to have to use that 'worthless cash'. Try paying a mortgage or rent with pms. Petrol? How about paying for goods purchased online? The nature of online funds (that you can't hold) is the flexibility and speed of payment. By the way, fiat is what is giving pms their value.

"How much for that gold?", you say. "That's $1600 an ounce, please." When was the last time you asked to buy a $50 note? Well, ok then. Maybe you've bought some Zimbabwean dollars. Once they were sold, they lost their value as a currency and became a good. Just like bread, fuel or a house. People sold them to make money. Right now, pms aren't money. They are like bread, fuel or houses. They are not the accepted trading medium in Australia, but something to be invested in to be sold later back into fiat (if that's STILL the currently accepted trading medium when it comes time to 'cash in').

Cash. Who needs it? Pretty much everyone I know. Good luck otherwise.
 
The US isn't actually printing the physical paper notes, most of it is being conjoured up electronically.

The only people who use cash are crooks and tax dodgers.
 
In a cashless society the banks will get their wish - Every financial transaction will result in them collecting a transaction fee. Within a short time the amount owed to the banks in fees will match and then exceed the amount of money in circulation.
 
I have to say I rarely use cash. Max Keiser had an interesting guest (Nichole Foss) once that I think may actually have freaked him out. She said that in future, like metals, it will be the physical cash that will be worth something. Cash will be king as long as you hold the notes. Not totally in disagreement there. Soooo...as long as you don't mind loosing out on some interest, maybe put away a little 'folding' in a safe place for 'zombie times'


http://www.presstv.ir/Program/269015.html
 
Ive always got a pocket full of the stuff ...just in case .Not worth as much as last year you say ? ....I better grab another bundle then :p:
 
Jonesy said:
In a cashless society the banks will get their wish - Every financial transaction will result in them collecting a transaction fee. Within a short time the amount owed to the banks in fees will match and then exceed the amount of money in circulation.
Click to expand...

And bitcoin will be outlawed as it could potentially be used by terrorists.
 
GBN said:
Jonesy said:
In a cashless society the banks will get their wish - Every financial transaction will result in them collecting a transaction fee. Within a short time the amount owed to the banks in fees will match and then exceed the amount of money in circulation.
Click to expand...

And bitcoin will be outlawed as it could potentially be used by terrorists.
Click to expand...

And drug smugglers and probably paedophiles as well.
 
I'd rather have a fist full of fiat than a lump of plastic.

Who uses it? Just about every shop and business in Australia uses it daily.

What happens when the electronic system crashes?
How do you withdraw your funds from a bank if there's no cash and just plastic?

Do you remember the worst Black-out in the USA (Google and read it)?
How did people get by then? They didn't! Some could hail a cab to get home if they had cash, some were stranded for ages.
Australia is an isolated country of paradise that really doesn't show our younger folk what the world is really like.

Just think of all the things that could go wrong with a society if they only had plastic; think of times of civil unrest, war, black-outs, cyber attacks, natural disaster.

Sure, there's problems with some world currencies but as individuals we need diversification unless you truly think the world is


Have plastic, fiat, gold, silver, good soil and plenty of water. "Diversify"

This world can change dramatically over-night, use history as your guide and don't take it for granted that your government will save your arse.

You save your own butt, and never rely on the government or a system to guarantee your happiness or security.

The world is not Kumbaya :D
 
I used to be a fiat stacker. Now I hold the bare minimum to cover bills, food, other costs etc.
 
Don't the kids have some new fangled way of paying using their mobiles?

I know some were getting implanted with microchips so they could wave their hand and pay for stuff, (but that might just have been a TV show I was watching)
 
Jislizard said:
GBN said:
Jonesy said:
In a cashless society the banks will get their wish - Every financial transaction will result in them collecting a transaction fee. Within a short time the amount owed to the banks in fees will match and then exceed the amount of money in circulation.
Click to expand...

And bitcoin will be outlawed as it could potentially be used by terrorists.
Click to expand...

And drug smugglers and probably paedophiles as well.
Click to expand...

I know the second comment was probably sarcastic - but just wanted to say that the people always saying "Ooooh, bitcoin can be used by terrorists, drug dealers and other illegal types" conveniently forget that 99.9999999% of all current drug deals and crime is conducted in US Dollar cash. It's a complete red herring.

Okay, I'll crawl back under my rock now.
 
No need to hide under rocks!

The only people who use the 500 Euro note are apparently crimelords moving money around Europe, they aren't using bitcoins.
http://news.bbc.co.uk/2/hi/8678979.stm

And the best way to get something banned is to label it either Terrorist, Drug Crime or Paedophile, that way you get the public supporting (Demanding even) that you take their liberties away from them.
 
Jislizard said:
No need to hide under rocks!

The only people who use the 500 Euro note are apparently crimelords moving money around Europe, they aren't using bitcoins.
http://news.bbc.co.uk/2/hi/8678979.stm

And the best way to get something banned is to label it either Terrorist, Drug Crime or Paedophile, that way you get the public supporting (Demanding even) that you take their liberties away from them.
Click to expand...

The UK is allowed to get away with getting rid of the 500 note, because it is not in the eurozone. This will never happen (or for a long time) in the eurozone itself as the Germans want a high value note.

One of the comments mentioned that there's always the 200 euro or 1000 swiss franc notes anyway as an alternative.

Frankly i like high value notes like the old 500 and 1000 US$ notes. We should have something similar here. It would save a lot of hassle even when keeping some cash at home for an emergency (say 5 x $1000 notes instead of 50 $100 notes, or when buying whitegoods, cars etc. You can get better discounts for cash.
 
Byron said:
Jislizard said:
No need to hide under rocks!

The only people who use the 500 Euro note are apparently crimelords moving money around Europe, they aren't using bitcoins.
http://news.bbc.co.uk/2/hi/8678979.stm

And the best way to get something banned is to label it either Terrorist, Drug Crime or Paedophile, that way you get the public supporting (Demanding even) that you take their liberties away from them.
Click to expand...

The UK is allowed to get away with getting rid of the 500 note, because it is not in the eurozone. This will never happen (or for a long time) in the eurozone itself as the Germans want a high value note.

One of the comments mentioned that there's always the 200 euro or 1000 swiss franc notes anyway as an alternative.

Frankly i like high value notes like the old 500 and 1000 US$ notes. We should have something similar here. It would save a lot of hassle even when keeping some cash at home for an emergency (say 5 x $1000 notes instead of 50 $100 notes, or when buying whitegoods, cars etc. You can get better discounts for cash.
Click to expand...
Large notes like $500 & $1000 would throw up its own set of challenges . Giving change would be one of them . Where i am theres a 1000 pesos note & many times i have to search around or go to a large store because no one has change for the 1000 & if they have they wont give it to you because it empties their float .
 
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