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Post by Rolling Thunder on Nov 17, 2016 9:59:40 GMT -5
I put this here because it seems a good fit. www.latimes.com/world/la-fg-india-currency-20161115-story.htmlFrom what I read it's a political move. But I've been hearing this is also purported to be a move away from cash and instituting virtual money. Australian is also having an issue? Thoughts on where all this might lead here in the states? I don't see cash becoming an antique here any time soon but there are people pushing that agenda.
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Post by Deleted on Nov 17, 2016 11:06:19 GMT -5
Gaah, I hope the notion of banning cash doesn't lead anywhere, honestly. I use credit/debit cards for most stuff. But I like using cash for other things. Little venders, esp., e.g., at street fairs would probably be screwed if cash were eliminated.
Having been through a couple of blackouts and 9/11 here in NYC -- sometimes having a bit of cash on hand is essential. Networks went down, we couldn't use credit cards -- but we still needed things.
Even if I don't expect to need to pay for anything, I always have a bit tucked on my person -- and a reasonable amount in the house -- just in case. I've often been glad I did.
I'll leave it to Don to expound on why having an electronic paper trail of all purchases might not be desirable. Hell, I don't really have anything in particular to hide, but I still don't like the idea.
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Post by Don on Nov 17, 2016 11:28:33 GMT -5
Here's the NYT opinion in April. I predict a cashless society sometime after people stop cooking their books, buying illegal products, availing themselves of illegal or grey market services (think unlicensed lawn guy,strictly cash), and spending money on things they don't want their spouse to know about. Until then, cash is still king. I think that covers Cass's point too.
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