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"Sir, would you like crystal meth with that?"
Currently, over 2/3rds of transactions are cashless now.
Privacy will be completely gone when cash is removed. The governments will say they will eliminate tax avoidance, the drug trade, and also that cash carries a lot of bacteria and spreads disease (it's true).
Once this step is in place, there will literally be no barrier to requiring the chip or possibly QR code be on your very person.
It’s not too farfetched to link the checkout video camera to the cash transaction details and have face regognition software Id you to log the info for all of posterity. Bills are serialized and could easily be scanned during the transaction to be able to follow the “cash flow”.
Currently, we have US currency that exists only as coded entries, they don’t even bother to print it and warehouse it -that’s expensive.
Once we go cashless on scale, forget it...nobody will know what actually exists.
About a decade ago Mexico passed a law such that ALL land belonged to the government. We’re headed there, they will collateralize every thing, hypothosize and rehopthosize everything out from under our feet. All to pay for an ever failing welfare state. Feudalism.
Think it might some day be possible for government computers to look at all your transactions for a year-money earned and money spent on what things—then automatically generate a tax return with tax owed or tax due, for your to sign?
I like the cashless lifestyle. I am saving 26 trips to the bank every year. And I never get caught short of money when I wish to buy something expensive.
Governments don’t like cash - not at all.
Not easy to tax, not easy to trace, not easy to keep from flowing across borders, not easy to monitor for illegal activity.
Governments would LOVE a cashless society. Your every transaction would be subject to control.
Electronic money is never really yours, the government is just allowing you to spend it. When they need it, they will take it.
If they get rid of the dollar, we start trading in pesos.
Cash has too many advantages. It isn’t just illegal activity - it is the ability to buy a politically incorrect book without having it in your Amazon history, buy gifts without a spouse knowing where and how much, giving to charity without ending up on their email list.
With all these security issues with credit cards, we are stopping using them for convenience and just doing all cash.
Just the opposite of the trend.
"Sir, would you like crystal meth with that?"
Most of the money in the world is already just blips in computer memories - a fact that many people don’t realize. Makes it easy for the unscrupulous to get more of it.
if we had a lot of cash, everything we buy would be by cash....as it is the credit cards paid off each month are very easy and convenient.....
We’re never going cashless. There’s always going to be people legitimately using cash, which means there will always be cash available for the black market.