The Puerto Rico experience says cash will make a comeback!
I guess I am old-fashioned; I like cash. Sure miss the days when I had $1000 and $500 bills (1990’s).
I expect a worldwide currency to follow the next big global financial crisis (before that, Venezuela-type stuff). Before that I would expect individual nations to go cashless (see Sweden in article). But it’s a lot of speculation right now.
I would NOT presume to give you a date nor a timeline for that; this is simply to note we’re coming up on a generation that might not have ever used much, if any cash. Indeed a few of them don’t know they can unlock their car door with a key; so they’re in big trouble if the battery dies in the remote. My mid-2000 Japanese car (Hey UAW, stop supporting Democrats) only has a key-lock on the driver’s side of the car. I guess a lot of them have gone to that.
Yes, you are correct. No electricity, no banks. No banks, no ATMs. No ATMs, no cash, no credit, no buying anything. Look at all of the money they saved.
“The Puerto Rico experience says cash will make a comeback!”
Cashless is ‘just fine’ as long as the Internet and power is working.
Once they’re down, the ONLY PEOPLE able to purchase supplies are those with greenbacks, as PR once again proved.
(’just fine’ is subjective...lots of other issues with cashless, very few people care about them)