Has anyone noticed the progression to a 'cashless' economy?
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Bank of America charges people who do not have an account to cash a check... Even if the check is written to them. They also make them go inside the bank and do not allow them to use the drive through. Last time I was in they made me cut the line in front of non-account holders. It's getting crazy.
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Interesting how this discussion has so far focussed much at Paypal.
Has anybody thought about these points:
Basic right for an accepted currency
Currently cash plays the role of an (almost) universal currency, at least within a monetary union and for medium prices. If leave your home with enough value of cash in your pocket, you can feel relaxed that you can buy everything without the risk of being unable to pay (having enough amount but of incompatible type). Every member of a society can take part in using that common denominator currency (just by getting cash in exchange, or finding it on the street). No registration or identification or income statements necessary.Neutrality
Other ways of payment often have a third party in the middle, which requires additional trust, agreement between payment services, and compatibility of their proprietary payment systems/pay cards/APIs. As long as systems aim for competition and exclusion (diverse credit card systems, Google/Apple Pay, Paypal which is not under banking law!), they are good as option but not suited as common denominator. Once cash will not be universally accepted anymore, it needs a successor, which ideally would be neutral and unbiased without giving advantage or control to specific companies over others.Data minimization
I have bought ice cream, the ice cream seller got his money and I got my ice cream, but nothing else was exchanged and we didn't know each other and will never know. I even have stayed in hotels anonymously. Not that data minimization or anonymity is crucial (as it would be for presecuted people like E. Snowden), but it guarantees that a moment of life has fulfilled all what it was supposed to (satiation) and that everything else can get forgotten, without future consequences (like some big company logging somewhere forever that you have eaten ice cream). -
The main problem is that each nation has its own banks and they have their own shareholders which creates and interest in manipulating whatever cash was replaced by to their own advantage.
As long as banks are independent of government this will happen and ruin ANY potential financial evolution, they are and will remain, set up to create a mostly unhealthy level of profit for their own ends.
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America's Banks are not independent. Federally founded, chartered, backed and insured not to mention regulated by. Government is very, very involved.
Also, I've noticed no one here has mentioned the prevalence of the American Dollar in the world market and how it can be used in many markets without conversion. In some places it's even preferred to the local currency.
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@krisidious said:
Also, I've noticed no one here has mentioned the prevalence of the American Dollar in the world market and how it can be used in many markets without conversion. In some places it's even preferred to the local currency.
The $US is the global reserve currency backed, some say, by ten aircraft carriers and soon to be twelve. Although officially its the tie to oil prices that maintains its position. The BRICS would appear to be working on an alternative but I don't see this happening anytime soon. Then again the World seems to be looking for financial stability and there are even suggesting from many quarters for a return to some sort of a Gold Standard. China, Russia and India have been accumulating an awful lot of gold over the past few years so one never knows!
I read this morning that Texas is in the process of setting up its own Gold Depository. That should cause some twitching in Washington and New York. Do the Texans know something that we don't?
A gold rush in Texas? Texas Bullion Depository could become reality
http://www.khou.com/story/news/local/texas/2015/05/31/a-gold-rush-in-texas-texas-bullion-depository-could-become-reality/28256929/ -
@krisidious said:
Also, I've noticed no one here has mentioned the prevalence of the American Dollar in the world market and how it can be used in many markets without conversion. In some places it's even preferred to the local currency.
I thought I mentioned it - "After many years of monopoly $$$$$$ printing machines are out of business. The end of $$$$. Euro-Asia central bank is taking control with its own currencies. So, let's make even more convenient system, where besides it has no real value, we do not have to print money at all. Just type it in the system. Who will have the control?".And I think it is not so far in the future. The only problem will be the consequences of $ fall...But that's where cashless economy come in as a replacement...I wonder does Chine and Russia has their own cashless network. What do you think?
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I know the Arabic and or Islamic are said to have a community based banking system that doesn't use interest. You need money and say you're in America, but your money is in Arabia. Local friendly Islamic, I would suppose found through local mosques would loan you money and then be repaid later. I read a little about it during some War on Terror reading and how it was hard to track the terrorists because of this under ground money system. But I don't know much about it.
As we've said before, people will always trade for service and valuables. They will place value on something and two parties will agree and it will have that value.
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@srx said:
Just type it in the system. Who will have the control?".
And I think it is not so far in the future. The only problem will be the consequences of $ fall...But that's where cashless economy come in as a replacement...I wonder does Chine and Russia has their own cashless network. What do you think?
Who will have control? The .001% will try hard via puppet Governments. This is their dream setup, one where they can flip the switch and you are no longer able to exist. The only way to survive will be to totally conform or have an alternative tried and tested system to hand.
I notice that there are some big names moving into the Bitcoin arena possibly with the intention of controlling it but this will be very difficult, however I have no doubts this will be tried.
Silver and particularly Gold will always be a problem for the .001% and again I have no doubt confiscation will rear its ugly head once again.
I think there will be reasonable financial security alternatives as long as the Internet remains fully open but we have to keep a vigilant eye on those that would like to fully control it. I would also like to see the BRICS set up an alternative Internet arteries to the current main arteries and I believe this is under way as part of their alternative SWIFT system which they need to get out from under the current system.
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"One ring to rule them all!" ....Alternative is a good thing. It is the opposite to totalitarian.
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Perhaps there should be an end to the tie between oil and the dollar, allow nations to buy oil in their own currency at a price fair to all. The dollar has allowed the US to become a secure global power and when oil is seen to be impartial, they will have to adapt to a new reality. Perhaps it will even reshape US global policy vis a vis their manipulation of nation state laws and policies. Would Monsanto be able to walk all over the rights of people outside the US without this global 'reach and manipulation'?
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@mike amos said:
Perhaps there should be an end to the tie between oil and the dollar, allow nations to buy oil in their own currency at a price fair to all. The dollar has allowed the US to become a secure global power and when oil is seen to be impartial, they will have to adapt to a new reality. Perhaps it will even reshape US global policy vis a vis their manipulation of nation state laws and policies. Would Monsanto be able to walk all over the rights of people outside the US without this global 'reach and manipulation'?
I can't see the dollar / oil link being removed anytime soon. It was a clever move by Nixon / Kissinger and one that will be possibly protected at all costs.
As far as Monsanto and their like goes, the Transatlantic Trade and Investment Partnership (TTIP) particularly and the Trans-Pacific Partnership (TPP) agreements being set up behind closed doors will secure their dominance until 'We the People' look behind the curtain to see who is really pulling the levers.
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McDonalds is now accepting phone payments at the drive through. Just wave your phone? or hit an app or something. but supposed to be fast and simple.
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@krisidious said:
McDonalds is now accepting phone payments at the drive through. Just wave your phone? or hit an app or something. but supposed to be fast and simple.
Before you have a chance to think about what you're doing (or eating)!
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@baz said:
He's at you about the spelling.. it's cheques...
But I must agree about the zeros.
I thought about that briefly before I posted, but I figured people could translate from 'murican to the Queen's English as they see fit... -
@pbacot said:
@krisidious said:
McDonalds is now accepting phone payments at the drive through. Just wave your phone? or hit an app or something. but supposed to be fast and simple.
Before you have a chance to think about what you're doing (or eating)!
McDonald's is one of my guilty pleasures! I can't resist a big juicy quarter pounder with loads of chips and a can of coke!
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Honestly, and when I have just started a die with a T too! All I will be thinking about today is fried chicken with a special crumb coating. Away with you, cruel world.........
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We have 'Pay and Wave' in Oz. Present your card to a 'Reader', no pins, no signature, easy and v convenient. ($100 limit tho).
I've had the same fifteen dollars (analogue) in my wallet for about 10 days now. It seems the only time I use cash is in a cafe or bar nowadays.@ Mike. 'The burgers are better at Hungry Jacks' You have them in GB?, they are betterer.
They say that Mcdonalds is like masturbation.. everybody does it, but no one admits to it.
Mea Culpa
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I admit I did just go to McD's for the first time in a long time and was impressed by the hi-tech interior and nice service layout, even the coffee is better than you'd expect. But when the order comes, it doesn't look like the pictures, and the flattened Egg McMuffin, sounded so good, doesn't really bring to mind a proper English muffin when you are eating it. It's there and gone without fanfare. I always like their fries on an occasional road trip. Mea culpa indeed.
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