Can people exist without physical Currency? Will this change?

Twostep said:
Please look at my earlier post. Banks do cancel accounts. I have been in banking for a while.
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I've had a bank account since age five when Gran opened one for me and took me to the bank and tried to make it fun and teach me. Yes, banks can cancel accounts and make changes even without your permission which is why having cash on hand is a great idea and living in a world where leadership cannot threaten you financially is a good idea too and one worth fighting for. :unsure:
 
Because of Covid a lot more people started using cards cause cash was germy. So we all got used to using cards even for small things. From what I see now we already kinda function as cashless. I rarely see anyone write a check or use cash anymore. BTW. Checks can be tracked. Only cash is anonymous. I still pay cash for a lot of things. JMO. Cards are bad for some people. With cash once its gone your spending is cut off. With a card as long as its active the skys the limit until you reach your balance limit.

Cards make everything transparent. Sometimes too transparent. If the government starts tracking then the person making a couple hundred under the table could get punished along with the drug dealer making thousands. But then again the small guy could be scamming the system and collecting benefits' while working under the table. My life is pretty much an open book. But you never know what could cause you to get flagged. Whatever happens I dont think we are going to have a choice. So to quote Scarlet "I will think about that tomorrow".
 

Almost everything is on the card now. I do carry same $5s and always have two loonies and two quarters. That’s the cost of a bus ride and I may need the coin for a grocery cart rental, $1 or .25.
 
debodun said:
I only use cash and bank checks to pay my way. Less chance of identity theft.
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A check can be scrubbed, if it has writing. Even better if it’s blank.

hollydolly said:
so by snatching the phone while it's unlocked they have access to the credit cards uploaded on them
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They still have to unlock the CC. Even if the thief got in, it should be insured by the bank for fraud.

Kadee said:
I’ve wondered how charities get on like the Salvos red shield appeal …
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At Christmas time the Salvation Army has QR taps on a board at the front of stores.
 
MACKTEXAS said:
When there is no cash, how will people with bad credit who can't qualify for cards pay?
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Debit cards or benefit cards for those on unemployment or welfare.

I’m sure that they will come up with reloadable cards so people can Venmo the kids on their birthday or when they mow the lawn.

I think it’s closer than we may think.
 
Veronica said:
Because of Covid a lot more people started using cards cause cash was germy. So we all got used to using cards even for small things. From what I see now we already kinda function as cashless. I rarely see anyone write a check or use cash anymore. BTW. Checks can be tracked. Only cash is anonymous. I still pay cash for a lot of things. JMO. Cards are bad for some people. With cash once its gone your spending is cut off. With a card as long as its active the skys the limit until you reach your balance limit.

Cards make everything transparent. Sometimes too transparent. If the government starts tracking then the person making a couple hundred under the table could get punished along with the drug dealer making thousands. But then again the small guy could be scamming the system and collecting benefits' while working under the table. My life is pretty much an open book. But you never know what could cause you to get flagged. Whatever happens I dont think we are going to have a choice. So to quote Scarlet "I will think about that tomorrow".
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Unfortunately you won't have a choice. Take it from a country who is already going through this...
 
Jules said:
Almost everything is on the card now. I do carry same $5s and always have two loonies and two quarters. That’s the cost of a bus ride and I may need the coin for a grocery cart rental, $1 or .25.
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you see this is how they get you. In the Uk credit and debit card use has been the means of payments for the majority for many years now. Most people have got used to paying just with card and no cash... particularly those under 30 years old

Now the powers that be know the public are used to not paying with cash... it's easy to remove cash completely...close the banks, which they've done in their thousands... now, since 2015

The majority of people will think it's no big deal... until it is....until they control what you spend and where you spend it...

remember the 15 minute cities,? that's already started here... Once card payments are the only way of spending, then the govt can control your movements by preventing your card from being spent outside of you allotted areas... preventing you from travelling far out of your home area without specific permission...

Don't believe it won't happen ?.. it's already happening in China...
 
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Banks in my area have closed but I don’t see it as any sort of sinister plot, we just don’t need them anymore than we need many brick and mortar stores.

I haven’t been inside of a bank since the start of the pandemic and I only use ATMs a couple times a year to get some walking around money.

It’s just the end of an old chapter and the start of a new one.

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Aunt Bea said:
Banks in my area have closed but I don’t see it as any sort of sinister plot, we just don’t need them anymore than we need many brick and mortar stores.

I haven’t been inside of a bank since the start of the pandemic and I only use ATMs a couple times a year to get some waking around money.

It’s just the end of an old chapter and the start of a new one.

View attachment 402110
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except in the UK it's the majority of banks... now many people like myself have to travel 20 miles to access a branch of our banks, since the closed all the banks in my town, and in the next nearest towns ..

People who don't drive for whatever reason, have no acccess to cash
 
Obviously many including some posting herein could. But some of us including this person that always has several hundred $$$ in my wallet would prefer not to. Mostly credit is fine, but ideally, would prefer a complementing paper money system that was actually at least partially backed by a reserve of precious metals or some other valuable commodity one could always trade in for like land.
 
chic said:
I've had a bank account since age five when Gran opened one for me and took me to the bank and tried to make it fun and teach me. Yes, banks can cancel accounts and make changes even without your permission which is why having cash on hand is a great idea and living in a world where leadership cannot threaten you financially is a good idea too and one worth fighting for. :unsure:
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Chic - there are contracts in place between banks and customers and those determine actions.
 
This was written 7 years ago.... since then Credit cards use has become much more pervelant, and China is fast moving towards much more Credit card use....
Remember, if you think this cannot happen in the USA, remember that Chia and the US are the same size geographcally... but China dwarfs the USA in population...with 1 Billion, 410 million people compared to the US 334 million.... as you can see if a country can control 1 billion more people, than the US it won't be hard to do it there...

Inside China’s "social credit" system, which blacklists citizens​


Inside China's "social credit" system, which blacklists citizens - Marketplace
 
China has a vastly different political system and culture though - I dont think what China does translates to any liklihood of same happening in western countries just because we are all moving toward cash less.
 
Aunt Bea said:
Banks in my area have closed but I don’t see it as any sort of sinister plot, we just don’t need them anymore than we need many brick and mortar stores.
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Physical banks have closed many branches in Australia too. Although there are still several - one of each major bank and 2 credit unions - in my town of 23,000 people

However this has not stopped people's access to cash - most places till have ATM's and supermarkets and co allow cash withdrawals through EFTPOS.
 
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