Transitioning to a Cashless Society. (activist, solution, economy, financial)

[Snowball7]

Rumors and speculation about a cashless society being eventual have persisted
for decades now. As time and technology have chugged on, the possibility that
a cashless system for our transactionary holdings will become a reality of life
are increasing. Consider this article:
Activist Post: Expert Says “Banning Cash” The Only Solution to Negative Interest Market Problems

Questions.
Do you believe the purported benefits of digitizing all currency and transactions
are valid benefits, or trojan horses ?
Would you be willing to allow the government and study groups
of corporations have access digitally to all your financial information, with no loopholes ?
How important is the financial privacy which physical currency provides to you ?
Do you believe the world banking and political system has a hidden agenda ?
Is a cashless control grid part of the Antichrist system prophesized in the Bible ?
Would you be willing to fight, and possibly lose your life rather than be forced
to comply with draconian financial oversight of your life ?

This is not a subject that is comfortable to discuss. It's a scary subject, but
it's becoming apparently more likely that the population is prepared to accept
restrictions of freedom in exchange for perceived security and convenience.
After all, unless you're a criminal, you don't need cash. Right ?

[Aunt Maude]

Cash, I believe, is a relatively small percentage of transactions already. You bet there's a lot of interest in making all payments non-private, it's just one more part of the web that includes smart meters, GPS and flight recorders in cars, total surveillance on telecommunications. Throw a bit of AI into the mix and you'll get interesting results.

Dunno how it effects negative interest rates, that's more a matter of our Lords and Masters madly spinning knobs trying to drive the economy. Nobody has hubris like the ego of a central banker.

[Snowball7]

Originally Posted by Aunt Maude

Cash, I believe, is a relatively small percentage of transactions already. You bet there's a lot of interest in making all payments non-private, it's just one more part of the web that includes smart meters, GPS and flight recorders in cars, total surveillance on telecommunications. Throw a bit of AI into the mix and you'll get interesting results.

Dunno how it effects negative interest rates, that's more a matter of our Lords and Masters madly spinning knobs trying to drive the economy. Nobody has hubris like the ego of a central banker.

So, you're okay with these things ? Or is more of a learned helplessness that has
conditioned you into accepting them as a reality ?

[Aunt Maude]

Originally Posted by Snowball7

So, you're okay with these things ? Or is more of a learned helplessness that has
conditioned you into accepting them as a reality ?

Talking about the future of cash is interesting.

What my opinions are really isn't, although you are welcome to build strawmen.

[CaleWany]

Cashless system will provide greater convenience especially during movements

Drawbacks are that it's highly prone to fraud and If govt access them,probably embezzlement and such takes place

[stygmata]

Originally Posted by CaleWany

Cashless system will provide greater convenience especially during movements

This is so true! I just bought a Hamilton Beach Toast-R-Oven from the Amazon iOS app during a movement this morning

[Utopian Slums]

Originally Posted by CaleWany

Cashless system will provide greater convenience especially during movements

Drawbacks are that it's highly prone to fraud and If govt access them,probably embezzlement and such takes place

I think that these drawbacks, adding to them electrical outages and hacking, are enough not to purposefully move to a cashless society.

If we get there voluntarily, like our voluntary "big brother" via Facebook, then so be it.

[ciceropolo]

The article was OK until I read this:
Regarding cash, Dimon stated:

"We need to build a real-time system that properly charges participants for usage, allows for good customer service, and minimizes fraud and bad behavior"

Spoken by one of the top corp's perpetuating fraud and bad behavior. Like manipulating markets in commodities et al. My favorite was a few years back when Coca Cola complained about aluminum manipulation. JPM was accumulating large amounts and simply storing them in huge warehouses in Detroit to 'manage scarcity' and drive up the commodity price.

Dimon is an example of fraud and bad behavior so perhaps we build a 'real-time' monitoring system on his activities?

[Ohiogirl81]

Too much potential for abuse, fraud, theft, etc. It's downright scary.

Anyway, I've read The Handmaid's Tale. No, thank you.

[wall st kid]

Originally Posted by ciceropolo

The article was OK until I read this:
Regarding cash, Dimon stated:

"We need to build a real-time system that properly charges participants for usage, allows for good customer service, and minimizes fraud and bad behavior"

Spoken by one of the top corp's perpetuating fraud and bad behavior. Like manipulating markets in commodities et al. My favorite was a few years back when Coca Cola complained about aluminum manipulation. JPM was accumulating large amounts and simply storing them in huge warehouses in Detroit to 'manage scarcity' and drive up the commodity price.

Dimon is an example of fraud and bad behavior so perhaps we build a 'real-time' monitoring system on his activities?

How is it minimizing fraud if you don't give people the option to keep their "money" in a safe place of their own choosing?

What happens if a person makes a cashless purchase at target and someone breaches target's system and steals a person's info? Would it be fair to force someone to give Target their "personal info" just to buy a t shirt or a candy bar?