Posted on 12/17/2019 8:37:59 AM PST by SeekAndFind
One of our younger relatives, who works at a major clothing retail company on breaks from his college.
He has told us that several major companies are considering a two step program to eliminate cash transactions.
Step 1. Eliminate checks in any form unless the customers get into a big line at the customer service center to cash checks with a penalty payment to do so.
Step 2. Charge a surcharge for any cash payments over 5$’s at the cash register.
Step 3. Encourage rapid payment with a smart phone at quick checkout counters. Here a discount is given to these customers.
Step 4. Customers upon entry to the store will register their smart phones. Then, when they check out, their purchases will be calculated while in the cart. Then, a clerk will push the calculated basket to outside the door and let the customer decide on how to get to their vehicle.
Step 5. Which is actually here in concept. If a customer uses a credit card sponsored by the store, they get points to apply to future purchases.
The world’s cash is in the pockets of third world people on every continent.
I can go pretty much anywhere in Africa, Eastern Europe or South America, pull out dollar bills, and they will accept them. They will even give change in their local currency using an app on their smart phone to give me the current exchange rate.
They do not, anywhere, take Yuan or Rubles, some will accept Euro, but unhappily.
This is why China will fail, Russia will never build a military like they had, and we will remain the currency standard. The value of a type of currency is a fiction comprised of the faith the people have in the value of something. Everyone (and I do mean everyone) has faith that the dollar will be worth something tomorrow and the day after tomorrow. Nobody is that sure about the Euro, and no one anywhere has any faith in the ruble, ruple or rupee.
I saw some businesses accept the Yuan, under threat of the Chinese government, but they divested as soon as they heroically could.
And China can confiscate every Chinese citizens mobile wallet overnight if they need to. or block access to a single mobile wallet if that person needs re-education.
Good points.
The people in HK are not stupid. I’ve been to HK many times and it is a very peaceful, dynamic, prosperous city.
Let’s ask ourselves, why, after 20 years of relative peace and quiet, did HK suddenly explode?
Well, well, well, it is because they see a slow, steady encroachment on the autonomy China promised before the British handover.
Once China fully takes over HK in 30 years, expect their social credit surveillance system to kick in. Add this to their digital cashless system and that would be the end of “freedom” as Hong Kong understood it.
Got yours?
No, but my depression born wife has it for both of us.
She uses her credit card for more than $200 purchase.
Once a month she goes to the bank for 20’s, 10’ 5’s and a couple of 50’s. She finds it is easier to pay cash than writing checks and less than $200 credit card purchases.
It’s sitting on pallets. In Iran. Wonder how it got there?
And a tiny bit of it is stashed away in my safe. My "just in case" money.
It is caused by you deplorables saving pennies and never turning them in. And don’t tell me you lost them in a boating accident. That sh$t don’t fly anymore.
It’s being stacked on pallets ... Oh, wait, that was Øbama.
Credit and debit cards are the norm and EBT cards are also cashless.
Drug trade ...
It’s not their business to know where the cash is.
I have a reward card. They don't give us something for nothing. Your data was well north of the $600 they kicked backed to you...
Even if you pay your taxes, a large purchase or deposit will still put you on the IRS radar.
It’s believable, just give it time to... sink.... in.....
Lol
Check the clinton charity and foundation.
There’s a significant discount to pay cash for diesel. It adds up on such large purchases.
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