Cashless society

[Polarbear]

I know we have commented on this before in other posts but yesterday I was chatting with a few friends when this came up. One of my mates said it would (or could) be the best thing to happen for this country. Reasons being....

Obviously no money to make saving however much that costs.
The end of the 'cash in hand' deals. Everything would have to go through the books so HMRC would get it's whack.
The end of illegal immigrants and people on tourist visas working for slave wages paid in cash and we would find out exactly who was in the country as everyone would have to have some form of bank account or starve.
Crime would be reduced, especially crimes like drug dealing as your and their money would be completely traceable. Banks already have to inform law enforcement about any large movement of money so I'm sure in today's technological era it would be easy expand that.

I'm sure he had other reasons but I can't remember them at the moment.

The way he put it (much more eloquently that me) it seemed like a no brainer from the governments point of view but I expect there are many that would regard it as another nail in the coffin of personal freedom.

Any thoughts? It wouldn't bother me in the slightest as using cash now is a faff and some shops are refusing any payment other than contactless.
____________________
Triumph Trophy Launch Edition

[Fat Angry Scotsman]

I am very much a centrist libertarian so I actually have a conflicted personal view on cashless societies. I personally don't carry cash on myself as I am a lazy cunt and like the convenience of using my mobile phone to pay for everything, however, I feel that there should be a place for cash as having it taken away completely equates to less personal freedom.

The thing that scares me most is the inexorable march towards losing all personal freedoms and that the scariest part of it: is that the mass populous is actually doing it themselves!

For centuries critical thought has been what drives innovation and development and now we live in an age where if someone doesn't think the same as how certain cohorts of people think they should think then they "cancel" them. I hate the policing of thoughts and ideas in today's world, to me it's the opposite of what humans should be like and no better than everyone simply being a drone.

I don't have to agree with other people's thoughts, in fact I can think they are heinous, but when you start censoring thought then where does that line get drawn?

So how does that tie back to a cashless society? Well because both are simply means to the same end where people are mindless work and consumption units. What is the next step after cash is taken away? Currency changes to social credits?
____________________
PRESENT: 2018 BMW S1000XR SE Sport.
PAST: 2009 Kawasaki ER-6F. 2021 Zontes ZT-125U.

[Polarbear]

[Fat Angry Scotsman]

[stinkwheel]

Criminals will just find other transportable and untraceable currencies to trade in.

Amazon gift cards seem popular at the moment.
____________________
“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles.

[Easy-X]

There's always gold, stolen goods, cigarettes, alcohol, dollars, sexual favours... just look at anywhere with a currency collapse to see an alternative to electronically tracked transactions.

But yes, it does have the air of "nothing to hide, nothing to fear" about it
____________________
Husqvarna Vitpilen 401, Yamaha XSR700, Honda Rebel, Yamaha DT175, Suzuki SV650 (loan) Fazer 600, Keeway Superlight 125, 50cc turd scooter

[A100man]

I like cash, I don't like change (no pun). There's already enough restrictions in place for money laundering. IMO.

Some places I always use cash - the pub for example. It stems form the time of having to wait behind queues to students each paying for an individual drink with a card - tw@ts.

It could have eth effect of foxing the Gypos, but as Easy suggests they'd like or not figure a way around it (trading in stolen chainsaws for example).
____________________
Now: A100, GT250A, XJ598, FZ750

Then: Fizz, RS200, KL250, XJ550, Laverda Alpina, XJ600, FZS600

[Jmoan]

It's like saying ban all cars and motorbikes because people can go on public transport or use deliveries.

Cash is already under attack and giving more power to financial services leads to more abuses. This outdoor shop owner complains about some of the actions used against him.

https://www.youtube.com/watch?v=sYFofXxdqzg

[thx1138]

the simplest and easiet budgeting involves cash

it will damage the poorest

[Johnnythefox]

When I go out on the piss, see a band, I never carry a wallet or card, I carry cash, spread around my pockets, If I'm pissed and drop a few notes then it's less of a problem than waking up in the morning and finding that I have lost my card (ask me how I know)

[Easy-X]

[MCN]

[mentalboy]

I thought that Bitcoin was supposed to be the answer to the criminal's monetary dilemmas?

Being cashless in a third world country such as the USA, which still operates a 19th century banking system, would be a complete pain in the arse. Today I bought some wood using someone else's signed blank cheque...
____________________
Make mine a Corona.

[Kawasaki Jimbo]

[Raffles]

[Im-a-Ridah]

I agree from the civil liberties perspective with cash. But from an econoimic standpoint cash gives electronic money its perceived physical worth, similar to the Gold standard. A run on the banks being a good proof of this. So scrapping cash actually weakens the value of the currency. Also the alternative to cash would probably not be gold, but rather a different currency e.g the US Dollar.

[blurredman]

What about cheques?

Use them all the time.
____________________
CBT: 12/06/10, Theory: 22/09/10, Module 1: 09/11/10, Module 2: 19/01/11
Past: 1991 Honda CG125BR-J, 1992 (1980) Honda XL125S, 1996 Kawasaki GPZ500S.
Current: 1981 Honda CX500B - 91k, 1987 MZ ETZ250 (bored to 295cc) - 38k, 1990 MZ ETZ251 - 49k, 1979 Suzuki TS185ER - 9k, 1973 MZ ES250/2 - 17k.

[stinkwheel]

[Polarbear]

[blurredman]

[Jmoan]

Speaking of Barclays. They blocked payments and said it was to "protect customers" at first. Now news articles claim it is due to the FCA.

[martin734]

I don't think I would actually notice if cash disappeared altogether. I haven't used cash at all for the last 18 months or so and my business is not cash based either, it's all done by invoice, account and electronic payments, either from the NHS or the patient's own health insurance. The only time I have had a problem is the occasional carpark in the deepest parts of Dorset, where they haven't yet discovered electronic payments, or mobile phone networks, or even electricity.
____________________
Current bike: ST1100 "Big Red"

[GettinBetter]

I prefer cash.. yes I use my card as and when, but you are constanly being tracked and bombarded with shite.

As mentioned previously it's all about seeing how much money you have, and how much of it they can get their grubby hands on.

You all seem to be under the impression that cards are fautless, and that banks always pay. In the next recession that's due about now, you are all in for a big shock. We'll get to see if their promise of 'ring fencing' really did get implemented, and whether it works or not.

If you don't draw cash prior to a banks collapse, you stand lose everything, if you have anything worth losing that is or if you're lucky you get a pitance for every pound they had of yours.

Many people start withdrawing cash when rumours of an imminent collapse get out.

The US banks are already limiting cash withdrawals under the pretext of not having any or there's no demand.

https://news.bitcoin.com/us-cash-crisis-withdrawal-limits-bank-run-fear/

If you trust the banks, you're a Banker Wanker.

Anyone know how Texas handled their payments when they lost all their power?

[stinkwheel]

During the 2008 financial crash, the Cypriot government shut all the banks for a few days and helped themselves to 10% of every credit balance.

Just saying...
____________________
“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles.

[Kawasaki Jimbo]