Posted on 01/31/2016 10:57:04 PM PST by MarchonDC09122009
Cashless society, the ‘EMP’ of economics.
Magnetic signatures are not exactly sturdy.
Hacking, ‘firesale’ attacks, magnetic erasers, tyrannical-nationaliztion schemes, etc ...
‘Getting rid of cash would do away with the Black Market ...’
So naive.
Black markets can trade with bartered goods. And black marketers would find bartered goods to have more solid value.
Watch the black markets skyrocket once printed money’s out the window.
There is a device called the square that plugs into cell phone that allows a credit card to be read. the prostitute will bill your credit card and the receipt will be some innocuous sounding company.
The cashless society is already here for many. Even barbers have the square and apple pay to receive credit cards. With direct deposit, vendors or payroll contributions are made by deposit ditect to a bank account.
there is no need for cash
Women have sold their bodies long before currency.
Prostitute: “Take EBT cards”.
John: “I already used it”.
Prostitute: “What’s in the bag?”
John: “Oreos and some milk”
Prostitute: “I’ll take it”.
‘Taxes will be automatically deducted from your register.’
Good point. Auto-fees and auto-taxes easy as pie that way.
So the police bust the prostitute and they have a record of every John that used this phony business. Right.....
‘The number of people conducting business in cash is a large segment of the economy...’
Good point. I guessed from the get-go that the underground economy would thrive under Obama.
If we suddenly end off-the-grid transactions, our economy would plummet, especially for working-class holdouts who refuse to get on government aid.
It's creepy. On a cruise ship I realize it's probably good for safety and security, but to do it all the time? I'd feel violated.
The sad thing is, most people are going there on their own with everything being paid by credit card, often automatically.
‘That will be a feature ... having everyone dependent upon government, and being able to control people by deciding if they eat or not.’
Oh right.
*** The Apple Watch. ***
Dovetails all too well with a tyrannical cashless society. Told when to stand up and ‘get moving’. Told when/what to eat.
‘... Its creepy. On a cruise ship I realize it’s probably good for safety and security, but to do it all the time? I’d feel violated.’
Good perspective.
When it’s a matter of free choice — great. But mandates? No way!
We should not let inflation go past the value of paper or even pennies.
[Nope, never been on a cruise.]
The good:
Illegal immigrants working under the table, drug dealers and prostitutes are going to go out of business. I see no other way to pay them unless you buy prepaid un registered Visa cards. Even then there is a transaction associated with that.
The bad:
Going Galt is much harder but still possible.
It will happen, God says it will. It’s just a matter if when.
Charge voters one penny when presenting CC as ID.
Rut Roh.
I believe that’s the point I made. introduce mandated electronic currency and no one will accept it when something like precious metals or trusted foreign currencies are available.
With digitized money the Feds and the State Tax agencies will know how much you earned and how much you spent down to the last cent.
They will also know what you spent it on.
I heard of a poll in Germany where 77% of respondents said they wanted to KEEP cash.
Bitcoin.
Sure, whatever you say.
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