Via Economic Policy Journal



From the ATM Industry Association:

A cashless society means no cash. Zero. It doesn’t mean mostly cashless and you can still use a ‘wee bit of cash here & there’. Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society aren’t fully aware of what they are asking for. A cashless society means:

* If you are struggling with your mortgage on a particular month, you can’t do an odd job to get you through.

* Your child can’t go & help the local farmer to earn a bit of summer cash.

* No more cash slipped into the hands of a child as a good luck charm or from their grandparent when going on holidays.

* No more money in birthday cards.

* No more piggy banks for your child to collect pocket money & to learn about the value of earning.

* No more cash for a rainy day fund or for that something special you have been putting £20 a week away for.

* No more nixers on the side because your wages barely cover the bills or put food on the table.

* No more charity collections.

* No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.

* No more cash gifts from relatives or loved ones.

What a cashless society does guarantee:

* Banks have full control of every single penny you own.

* Every transaction you make is recorded.

* All your movements & actions are traceable.

* Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.

* You will have no choice but to declare & be taxed on every pound in your possession.

* The government WILL decide what you can & cannot purchase.

* If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.

RW

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(ht David Mueller)