Can people exist without physical Currency? Will this change?

Twostep said:
Sources please. thank you.
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No problem:

The first one "auf1.tv" made the cancellation of it's bank account public some weeks ago. They have removed this some time ago, but this is their new bank account in Hungary.
Unterstützen

Kontrafunk has it still on their homepage: "Deutsches Konto gekündigt" (German bank account terminated).
https://kontrafunk.radio/de/

Reitschuster: "Frontalangriff auf meine Seite. PayPal sperrt meine Konten" (Frontal attack on my side. PayPal blocks my accounts).
Frontalangriff auf meine Seite: Paypal sperrt meine Konten - reitschuster.de

Do you believe it now? What do you think and where do you live that you won't believe me?
 

dilettante said:
I have yet to see a food retailer that doesn't have everything plastered with "We Take EBT Cards" placards, and I suspect that fast food joints have taken them for quite a while.
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I don't think NY allows EBT for the hot food counter at a supermarket, let alone an actual restaurant. In back of woman at Stop/Shop & she tried to purchase cooked whole chicken, under $10. and she was not permitted, it was explained to her EBT not for pre cooked food.

ps
man behind me paid for her chicken. That was her only purchase. She so grateful. Teary moment.
 
horseless carriage said:
Your jest has a serious side, what you describe is a George Orwell scenario from his book, 1984. He wrote 1984 to teach people a lesson about the negative things that could happen if they allowed the authorities and those in power to exercise total control. The totalitarian regime of Oceania is able to manipulate their citizens into believing anything, which allows them as much power as they could possibly want.

Go back to Holly's post, see the point that she makes, we are heading towards a card payment system. Put that together with your prophetic vision of the future and you have the perfect Orwellian storm. Total control over a population that has no secrecy in it's spending habits. Cash is anonymous, you can't profile cash spending, so let's replace cash with the ubiquitous plastic card. It makes me glad that I am near life's exit.
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I agree. Great post!!!
 

old medic said:
What happens when the lights go out? After Helene hit there was no power for 50 miles, foe over a week. No computers to do the banking... IF you found someplace that had a back-up generator and supplies, it was cash only... One chain store main computer center was flooded and destroyed... cash only for over 3 weeks. We have emergency cash on hand, Plus plenty of change, silver ammo and other collected items for barter.
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interesting thought.
 
I keep a couple of tens in my wallet and some ones in the car. Other than that, I'm plastic all the way.

In the place where we used to spend the summers, they changed the laundry machines from coin-operated to charge card operated (not a card you loaded with funds, but your own card).

That was a pain in the a$$. Previously, if your dryer was close to stopping but things weren't quite dry, you could plug in another quarter and get another 12 minutes of drying. But now, you had to swipe the card again for a quarter, maybe more times.

You'd look at your statement:

$1.75
$1.75
$1.50
$1.50
$ .25
$ .25
$ .25

I'm sure those $ .25 transactions were costing that much in processing fees.
 
Aunt Bea said:
The last time I went to put air in my tires I noticed that the machine accepted $2.00 in quarters or a major credit card to buy five minutes worth of air.

That surprised me.
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That's what happened here, only mine was worse. It ONLY took a credit card (no coins) and the charge was $2.50. The cord was so short that it wouldn't reach the far side of the car, and by the time I turned the car around, it stopped, so there went another $2.50. I finally bought an air compressor to do my own airing up at home. It was on sale for $33.00 at Walmart. It has a cord to plug into a regular house socket, and another cord it I want to plug it into the car outlet (that used to be called cigarette lighter socket).
 
I think cashless is nice to use. The idea of having accounts frozen by corrupt governments is scary, but would probably be easily countered in court unless the courts or laws are corrupt too. And even a corrupt government would probably only target high profile people (because if they froze accounts of half the population that would crash markets and their own money I'd assume).

If I was a high profile person I guess I'd have some gold, and also have some money in foreign banks. I'm not sure using local community credit union would be helpful or not.

Regarding the closed account news articles quoted in above posts, I'm guessing 'closing' an account would mean getting your money back, but 'freezing' your account would lock you out of spending your money.

I believe when governments try to force people to use cashless transactions, a lot of that is for the tax authorities convenience. When I had my trip last year to Greece, they had (apparently) a law requiring all the vendors to have tap-to-pay, which I found a super convenience as a tourist, I didn't have to get any Euros or worry about cash, just tapped my CC for everything (except for a pizza delivery at a hotel because the delivery person forgot to bring his device, but the hotel paid for it for me - and it wasn't even on my room bill - they told me not to worry about it, sweet!).
 
Twostep said:
If you read the Wiki story his accounts did not satisfy the requirements of being a commercial client; apparently a mortgage was removed. Every bank reserves the right to refuse a client. AML can be tricky and apparently Coutes saw a conflict.

Grass may be legal in many US states. I do not know of one bank which does not refuse this source of income by clients.
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yes however, afterwards they agreed he didn't meet any requrement for removal of his account, and the head of Coutes bank had to publicly apologise
 
officerripley said:
There was even a science fiction book back in the 80s wherein a biochemist who'd decided to try to wipe out the human race nearly accomplished it by putting a deadly virus on paper currency.
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paper money has been in circulation since AD 650 .. that's 1, 374 years, not once in that time, has anyone put a deadly virus on paper money !
 
I hope this is perceived as sarcasm - that's how it's intended, but there are times I think it may be the new reality.

Just plop everything onto a card and have it conveniently delivered to the doorstep. No need to go to any stores, or fight crowds trudging through a mall. Why visit a zoo, or a museum, or take travel tours? Just use a card and pay to see any of those things on streaming videos, conveniently viewed at home.

And most everyone has had the ability to text for a long time, now. Most have Facebook, or something similar, so there's no need to see family. Just email their Christmas cards and e-gift cards.

Finally, no need to worry about the price of cars going up. We won't need them if we aren't going anywhere. :(
 
HoneyNut said:
I think cashless is nice to use. The idea of having accounts frozen by corrupt governments is scary, but would probably be easily countered in court unless the courts or laws are corrupt too. And even a corrupt government would probably only target high profile people (because if they froze accounts of half the population that would crash markets and their own money I'd assume).

If I was a high profile person I guess I'd have some gold, and also have some money in foreign banks. I'm not sure using local community credit union would be helpful or not.

Regarding the closed account news articles quoted in above posts, I'm guessing 'closing' an account would mean getting your money back, but 'freezing' your account would lock you out of spending your money.

I believe when governments try to force people to use cashless transactions, a lot of that is for the tax authorities convenience. When I had my trip last year to Greece, they had (apparently) a law requiring all the vendors to have tap-to-pay, which I found a super convenience as a tourist, I didn't have to get any Euros or worry about cash, just tapped my CC for everything (except for a pizza delivery at a hotel because the delivery person forgot to bring his device, but the hotel paid for it for me - and it wasn't even on my room bill - they told me not to worry about it, sweet!).
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all of our card machines are tap & pay..otherwise known more commonly as Contactless.. we've had that since 2007... so 18 years... Initially there was a limit of £10 before you had to put your pin number in, then £50, and now we use contactless ( Tap and go ) for a max of £100.. anything over that we have to insert our card into the machine and tap in our pin numbers..
..in the same way people use Apple Pay on their phones...

I would never use my phone to pay for anything.. never upload a credit card to my phone... my husband does, and everyone I know does.. but neither my daughter or I, do... I would be a nervous wreck, in case I lost my phone...

It's another reason that thefts of phones are so endemic in the UK... .

People say as long as you lock your phone thieves can't get into your credit card.. however, what they do is they wait until they see someone walking along, or standing in the street talking on the phone then they swiftly, silently, ride up on bikes, and grab the phone.. because that means , it was unlocked.. it's only locked if you're not speaking on it...so by snatching the phone while it's unlocked they have access to the credit cards uploaded on them

 
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MACKTEXAS said:
I hope this is perceived as sarcasm - that's how it's intended, but there are times I think it may be the new reality.

Just plop everything onto a card and have it conveniently delivered to the doorstep. No need to go to any stores, or fight crowds trudging through a mall. Why visit a zoo, or a museum, or take travel tours? Just use a card and pay to see any of those things on streaming videos, conveniently viewed at home.

And most everyone has had the ability to text for a long time, now. Most have Facebook, or something similar, so there's no need to see family. Just email their Christmas cards and e-gift cards.

Finally, no need to worry about the price of cars going up. We won't need them if we aren't going anywhere. :(
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..and that's if Big Brother doesn't decide what you are allowed to view....
 
I always carry some cash in my wallet. The habit is simply too ingrained in someone of my vintage to be discarded. However, I've lived most of my years in a state with sales tax but now that I no longer do, I find that I never use coins.
 
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Oldeagle66 said:
I will always carry cash. I know a few out of the way places that only accept cash. Plus it has saved me several times when broke down, lost and other emergencies. Like during the massive power failure in the Midwest and East Coast several years ago. Although the power was out, the store I went to let people buy with cash. I had no problem getting anything while others who only had plastic were out of luck. I learned long ago to keep a bit of everything.
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I agree and I like cash too. I'm never without it This is mostly because I love yard sales so much and you've got to have cash for those so I never lost the habit of carrying cash even when it was no longer fashionable to do so. And it saved me on a few occasions when power failures rendered payment with anything but cash unacceptable. As you say, carrying a bit of everything is best. :giggle:
 
Trade said:
I pay cash for almost everything that I buy in person. In July of 1969 the US stopped issuing bills larger than $100. Due to inflation today that $100 bill is worth approximately $10 in 1969 money. So it's a pain in the but to carry a decent amount of money in ones wallet. Most ATM's around here only issue $20 bills.

How can you carry a decent amount of cash in a wallet when a $20 bill is the largest you can get, which is only equivalent to about $2 in 1960's money? You can't. Your wallet gets so fat you can't even close it. Thankfully the ATM's at my credit union here in Mobile has the option of dispensing $100 bills. So that's where I usually get my cash. In my opinion we need to start re issuing the $500 and the $1000 bill.
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Vicky said:
Imagination the world without the paper currency?
How would we pay for items? How would we receive services?
The Cavemen years did not have currency. And they got through it.
The Indians did not have paper currency and they survived.
Charge plates use a digital system of the paper currency.
And then there is cryptocurrency, which I am not familiar with.

Could we live without the paper currency as we know it today?
Do you think the money system will change in the future?


My opinion is that the currency or money that we know of is the easiest method of exchange. If there was no paper currency, then there would be value placed on items such as 3 chairs given for services from a doctor. A dinner prepared for exchange of a set of tools, etc.
I can’t imagine a world without currency, yet charge plates don’t use physical paper currency.​
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We all grew up in a cash world, didn't we?

Today? I never use cash. I have no need for it. Cashless helps me manage my money better. It's more convenient. Taking cashless away from me would be a disaster. Taking cash away........ wouldn't matter to me. I'm not entirely sure, but if there's more than £10 cash in my home, I'd be surprised.
 
George1959 said:
No problem:

The first one "auf1.tv" made the cancellation of it's bank account public some weeks ago. They have removed this some time ago, but this is their new bank account in Hungary.
Unterstützen

Kontrafunk has it still on their homepage: "Deutsches Konto gekündigt" (German bank account terminated).
https://kontrafunk.radio/de/

Reitschuster: "Frontalangriff auf meine Seite. PayPal sperrt meine Konten" (Frontal attack on my side. PayPal blocks my accounts).
Frontalangriff auf meine Seite: Paypal sperrt meine Konten - reitschuster.de

Do you believe it now? What do you think and where do you live that you won't believe me?
Click to expand...
Please look at my earlier post. Banks do cancel accounts. I have been in banking for a while.
 
How am l supposed to catch a cab -- l no longer drive--without cash to pay him/her and how am l suppoed to get change back from him or her?
l know - very self centered.;)
 
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