I’ve always felt that a cashless monetary policy was designed so people could not work for cash and avoid taxes.
Which helps keep the rest of us free[er]. Given absolute control, no government would be able to resist the temptation to tyranny. Hell, they flirt with it bad enough WITHOUT absolute control.
Or if the power grid is turned off intentionally.
And you’d better hope you don’t say something (or pray to something) they don’t like—all they’ll need to do is just flip a switch and then you’re SOL. Tyranny is so whimsical.
I’ve heard that many people, especially younger people, just don’t use physical cash very much. They use debit cards and credit cards, and use functions such as Google wallet and PayPal.
Since so many just don’t ever use actual cash, they won’t mind if our government ever tried to phase out cash.
Wha yo mean ma EBT card don’t work? Everthang in this store jus’ become free, mein!
My friend is an auditor for a paycheck loan place. He says PR is corrupt from the ground up. That the store there is a joke and the company only keeps it so the brass can have a place to party. One can only imagine what the books will be after this mess.
Of all the different categories of money, and there are at least 5, money in motion is by far the most important. Lose control of that and all commerce will immediately stop. If it is not restarted quickly,society as we know it will either replace it with a different medium of exchange or collapse almost immediately. Then bullets and force will become the new medium of exchange.
Cashless = Communist Control.
Those of us who live in Hurricane Land will cut any attempt to outlaw cash.
Fools.
If necessary our states will create our own currencies and cut the stupid Feds out the picture. Texas has already begun that process.
Ping.
I keep several hundred on hand just in case.
One other function of cash is that it serves, during no power situations, to allow commerce rather than forcing people to trash grocery stores in order to feed their families.
A cashless society is a major step on the road to abject tyranny.
I recently had one of those Wal Mart branch banks request my name when I simply asked to make change for two twenty dollar bills. That one kind of threw me back. Really? To make change? Freakin’ Orwellian.
So either way, in a TEOTWAWKI event, as what happened to Puerto Rico, people are going to run out of cash money very quickly. As most people will be in the same boat, alternative methods of payment will be improvised.
One of the recommendations is that in addition to food, water, and medical supplies, that you have a supply of $20 bills (probably a two to three hundred dollars worth) to allow you to survive after a natural disaster.
The days of 3 days, three ways are over. If there is a big enough disaster many are talking about two weeks before you can count on things working again and that is not in a remote area like an island. While cash might not do anything in the first few days, it will likely help once some of the infrastructure starts coming back on.
The premise is silly on its face.
In a cashless society, all goods and services become cash.
Cash is only a method to harmonize what is, essentially and still, a barter economy.
Also nonsense from the 'mainstream' economists.
Negative interest rates are far from nontraditional. They thrive in any deflationary economy.