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Fears of a Cashless System

Slingshot Bob said:
Sorry, I think you replied before I edited my post, is paypal tax free? Why do you fear $?
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I don't fear dollars there's just very little reason for me to physically go to the bank and get cash taken out.
 
Slingshot Bob said:
What about Fiat currency and the Fed? There is something called "cash" when I work, this is what I get!
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You know most money in the US and in the world is actually just numbers in a computer right?
 
ModerateGOP said:
Yeah because that's what I said. :roll: I never advocated for a cashless society. Do I think it is going to happen regardless? Yes, but only because the majority of the people want it not because the government is forcing it. There is a difference.

I'm guessing you are one of those who fear a cashless system. Is there a reason why other than, "gov't bad."
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There is no way a "cashless" society can exist other then the government forcing it.
 
Slingshot Bob said:
Not when I hold it in my physical hand, why are yall cheering to abolish cash?
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Except that makes up a small minority of the actual money supply. Cash is becoming less and less important and cards are taking over, it is just far more convenient and manageable.
 
ModerateGOP said:
People like what they can touch. That will die out in the next two generations.
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which is I'm sure why the number of bills produced and circulating are increasing every year.
 
Slingshot Bob said:
So you are OK with it? I did not say it would not exist, just say goodbye to taxless income
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So your main issue with a cashless system is that it will limit your ability to commit felonies. Jeez forgive me if I no longer wish to subsidize your crimes :shrug:
 
Carjosse said:
Except that makes up a small minority of the actual money supply. Cash is becoming less and less important and cards are taking over, it is just far more convenient and manageable.
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Cash has always been a small minority of the money supply. so before debit cards people wrote checks, and used the early generation of credit cards which imprinted a code on to a carbon which was mailed, invoiced, and then a bill mailed to the card holder and the payment mailed back by check.

this trope about cash dying out is not true, the amount of currency in circulation is increasing every year, if cash were dying as a payment method the opposite would be true.
 
Carjosse said:
Except that makes up a small minority of the actual money supply. Cash is becoming less and less important and cards are taking over, it is just far more convenient and manageable.
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I love cash, yall cheer for the NWO. When the time comes to get the chip, I bet you submit. Now tell me I am just being melodramatic!
 
Carjosse said:
Not true at all, all it takes is the central bank.
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No, it doesn't, since the central bank only controls the supply of currency, physical supply is produced by bureau of engraving and printing and the US Mint, so the only way there can be a "cashless" society is if the government shut down the Mint or BEP.

both of which make more money selling notes and coins then they spend making them.
 
Slingshot Bob said:
Wow, what a strawman.
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Not a straw man, you specifically said that downside of the cashless system was under the table untaxable income also known as a felony called tax evasion
 
Crovax said:
Not a straw man, you specifically said that downside of the cashless system was under the table untaxable income also known as a felony called tax evasion
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So if I avoid taxes on an odd job where I make 40$ or make 80$ on a yard sale, it is a "felony"? lol. link?
 
EMNofSeattle said:
Cash has always been a small minority of the money supply. so before debit cards people wrote checks, and used the early generation of credit cards which imprinted a code on to a carbon which was mailed, invoiced, and then a bill mailed to the card holder and the payment mailed back by check.

this trope about cash dying out is not true, the amount of currency in circulation is increasing every year, if cash were dying as a payment method the opposite would be true.
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That seems like faulty logic. There has to be a certain amount of cash to cover all the digital currency, it doesn't mean that it's being used.

In yet another sign that cash's cachet may be waning, a new Bankrate survey found that 2 out of 5 consumers carry less than $20 in cash on a daily basis.

Bankrate's May Financial Security Index suggests that the good old greenback*-- the traditional currency for many consumers*-- no longer dominates like it used to.

More than two-thirds of consumers carry $50 or less on a regular basis.
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Financial Security Index: Consumers Carry Less Cash | Bankrate.com
 
Crovax said:
So your main issue with a cashless system is that it will limit your ability to commit felonies. Jeez forgive me if I no longer wish to subsidize your crimes :shrug:
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Earning tax free income is hardly a felony and most of my income is not reported on a 1099. Do you issue a 1099 to those that you pay cut your grass or do other odd jobs?
 
I read this thread.


Every single one of you owe me $20 for wasting my time.

I accept cash, credit, wire transfer, paypal, bitcoin, gold, silver, bulk brass by weight, cigars, booze, old 1950s and 60s sci fi novels by noted authors, frozen steaks, fresh eggs, and certain kinds of livestock.
 
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