Two key issues concern me.
1. If cash is banned, and absolutely every financial transaction has to go through credit/debit cards, or some other electronic transfers of funds, we lose the remaining privacy we still have of transactions done in cash.
2. It will be much easier for people in power to manipulate our money, if absolutely all money/legal tender, is legally only allowed within a government monitored account of some sort.
"2. It will be much easier for people in power to manipulate our money, if absolutely all money/legal tender, is legally only allowed within a government monitored account of some sort. "
They can't impose negative interest rates on us if we have a way of conducting our business outside of their banks. And their
magic money machine will inevitably collapse unless they can impose that negative interest rate on us. Not on their savings of course, those will continue to pay a nice positive rate of return.