Killing Currency

[Armistead]

You like the idea or not. Obvious may pro's and cons. I remember when Ross Perot was big on a cashless economy. Many businesses hide under the radar, cash only, paying no taxes, ect., some say up to 200 billion a year. It certainly would kill all the illegal business operations or would it?

I was amazed that Paypal sales now exceed paper money, if what I read was true...

Counterfeiting is used by many nations to try to devalue the dollar. I think N. Korea is the leader in pushing fake money on the market. Not long ago you could hardly use a $50 or $100 in Canada due to counterfeiting. Course the Nazis turned out the largest counterfeiting operation in history.

They're are dozens of companies working on microchip technology placing chips on your hand, using fingerprint scanning, ect.. Course this makes many scream..."mark of the beast."

Almost always technology created today becomes the future. Many agree we will eventually become a cashless world in 20-50 years, much depends on onfolding events...

[Oberon]

I'd agree, I don't know about a cashless 'world' but certainly in the more capitalistic nations, the western world that kind of area, yes, money will be very much relegated within the next half a century, but places like Africa and South America? Maybe not so much.

I must admit I'm not a major fan of the idea...but then again I've been rather a late arriver to the cashless society, only getting a proper debit card a year or two ago, I don't actually spend much online or in the shops (most of it goes on the rent) so I've not really had a use for it. Plus, the amount of times I've seen the card readers break or get cloned...maybe down the line it will be protected more...but you know what they say, every time you build a bigger mouse, someone builds a bigger mousetrap.

[August]

The government doesn't care about counterfeiters. They want a cashless society because that lets them register and tax every transaction regardless of size.

No more paying a kid a few bucks to help rake your yard or shovel a driveway.

Slipping a $10 spot to your grand children would now involve them having to pay taxes on the income. No football pools at work, no tossing change into the collection bucket at the drive through. Think of every time you have given to or received money from another person. It would all now have to go through the bank and the government. No thanks.