Cashless Society

[rogue06]

Being basically a paranoid person who loathes paper trails I use cash whenever possible. This has led to problems at places like doctor's offices where they've had to go through purses and even their cars trying to scrape together the change

[Sparko]

Being basically a paranoid person who loathes paper trails I use cash whenever possible. This has led to problems at places like doctor's offices where they've had to go through purses and even their cars trying to scrape together the change

but, but. but!!! The goobermint has tracking devices in the bills too! I think the eyes on the presidents portraits are really micro cameras too.

[rogue06]

but, but. but!!! The goobermint has tracking devices in the bills too! I think the eyes on the presidents portraits are really micro cameras too.

Easily taken care of by drawing little tin hats on the presidents

[Sparko]

Easily taken care of by drawing little tin hats on the presidents

pure genius!!

[apostoli]

I wonder how long before we become a completely cashless society?

Probably never while the electronic systems is fragmatised and privatised.

The biggest hurdle has always been the networks fee structures (merchant fees & transaction fees). Here in Oz mrchants now (after a law change) are allowed to charge extra on EFT & CC transactions to recover bank fees. Small retailers who by necessity do, are put in a non-competitive position with big retailers who don't. There are other issues...

Credit/Debit Card fraud. The whole Card system is one of undeserved trust. Your card/s are not secure. Easily forged, easily stolen and the Net trans allow impersonation. Believe me I know! I worked in electronic banking for a lot of years. The banks work on a probability theory and absorb losses (hence high fees). Also the electronic banking system are fully automated. Thats why the banks tell you to check your statements. I had a fraud happen to me. Several years ago I'd signed a service contract that required monthly payments. An option was to have these automatically charged to my credit card. Contract expired, then three years later some dude reactivated the auto payments. I probably wouldn't have noticed but the trans was $500, so I noticed! Real hastle getting the bank to stop payments.

Then there is small transactions. The only real issue here is fees. Smart cards are suppose to solve this.

etc etc etc

Imu, world wide the banking system is similar. Each night financial institutions make net settlements, shuffle cash reserves. Though usually this is an exchange of IOUs.

The actual "money" is held by the Reserve bank. With the worldwide market crash legislation was passed to allow the Reserve to gaurantee all bank & credit union deposits and release the "money".

[seanD]

I've always considered that depotism was the reason for a cashless society, not necessarily for its practical uses. I believe that a cashless society will be a result of a total and absolute take-over of the IMF. This is the reason why we are seeing a dramatic consolidation and seizing of corporations by the Obama Wall street criminals, and why they've been funneling trillions through the FED with no oversight of where the money is going and what it's being used for. The dollar is already on the verge of a total meltdown once the Obama bailout bubble bursts. But I believe the total take-over won't occur until some major disasters affect the world and leave it in such disorder and disrepair, a global super IMF will be the only way humans can function as a civil and economically structured society.