The cashless society will go hand and hand with negative interest rates.
If your “money” is electronic it can be widdled away by negative interest rates. This will force you to spend it as soon as possible...to help the economy. Would you rather stockpile consumable goods or just watch your savings disappear?
See, it will he’s sold as good for the economy.
Besides, good reliable democrats live week to week. => Just who do you think you are?!?!
This will encourage stockpiling of consumer products....anything that can be stored. Possibly a run on these items. But, you can only store so much detergent, soup cans and toilet paper.
It will appear genius...for a time. Then what? What happens when everyone is sitting on 18 months of supplies?
By this time they will be heavily taxing...if not forbidding the purchase of gold, silver and anything deemed a hard asset.
This is just my opinion but I don’t think a cashless society is possible. They can try it but all that will happen is a cash underground will spring up. In fact we already have one. Craigslist.
Correct. As the move to a cashless society takes shape, transactions will move underground. A few people are not ‘getting’ what the underground will look like. They are not seeing how that underground system will work, because like most of us...we’re law abiding citizens.
Gold, silver, copper, platinum, diamonds, on the high end of this.
They are touting this as a way to reduce crime, but in reality it will cause crime to increase. As a 1st World nation we have no idea how the 3rd World really functions.