[Pugchief]

Originally Posted by bp243

Why shouldn’t every business be tracked like you’re tracked for your reported income?

They absolutely should be, and I have no issue with that aspect of cashless. It's the more sinister aspect, where banks, the pols, whoever has the ability to decide you can't spend or bank based on some dubious reason related to social credit.

[tophcfa]

Originally Posted by CoachKandSportsguy

Looking at the risk profile:

Physical currency has physical risks, which are primarily local in nature. Risks are on the vendor and the consumer for physical theft prevention, including physical transport from vendor to bank and vice versa.

Digital currency has digital risks, which are unlimited in geography, meaning risk is now worldwide, and physical, need BOTH electricity AND an internet connection. Digital currency also needs a better help desk as banks aren't the only source of transactions. Also, digital means that the risk of internal employee theft still exists, eliminating human access will always be impossible. And the physical risk now is transferred to data centers and data back up locations being kept safe.

There are costs associated with each one: with physical currency, you bear the cost. with a digital currency, you the consumer and you the vendor do not bear the risk, but pay for the risk. But whomever controls the system controls the cost and the access, and since the system is controlled by humans with computers, not just computers by them selves, users of digital currency has given up local control to many, many more interested parties. . .

The best answer is still both, but the complete conversion to digital would also render most of the dollars in the underground trades EITHER worthless or very valuable to continue with the drug trade outside of any tracking. . . depending upon your view point

there is no free lunch, and the best option is for both currencies, so that you get to keep your freedom of choice.
Sweden is small country, lots of processes work well in small quantities, but doesn't scale well, ie has limits to how far it can scale. . digital currency just might be one of them for the US currency.

That, in a nutshell, is why I prefer cash to cashless. I am comfortable controlling my own risk, but I don’t trust a third party to look out for my best interest.

[Pugchief]

Originally Posted by NoMoSno

So EVERYONE will be forced to pay about 4% plus taxes just to spend their money.

Too late. If you don't think everyone is paying to recoup merchant fees on credit cards, think again.

More bad news: you are also already paying more to cover the cost of shrinkage, AKA shoplifting.

[Two Bills]

All this about taking away your privacy, government tracking/controlling you 'bla di bla' is total nonsense.
The day you first used a credit card, logged online for a purchase, registered for tax, posted on social media, etc etc. your information was fair game.
Talk about paranoia. It's change people are scared of.

[OrangeBlossomBaby]

Originally Posted by NoMoSno

So EVERYONE will be forced to pay about 4% plus taxes just to spend their money.

That's capitalism. If you want to give the government control over regulating how companies are allowed to do business and collect payment for goods and services offered, then you're looking for communism, not capitalism.

Personally I'm okay with capitalism.

[NoMoSno]

Originally Posted by OrangeBlossomBaby

That's capitalism. If you want to give the government control over regulating how companies are allowed to do business and collect payment for goods and services offered, then you're looking for communism, not capitalism.

Personally I'm okay with capitalism.

I'd rather have the option of having cash in my pocket and not having an added cost to spend my money if I don't want to buy on credit. That is capitalism.

[Two Bills]

Originally Posted by NoMoSno

I'd rather have the option of having cash in my pocket and not having an added cost to spend my money if I don't want to buy on credit. That is capitalism.

Credit cards paid off each month is Free credit.
The retailer pays the cost of CC transactions and is a built in cost on items sold.
By paying cash you are still paying that built in cost, without the benefit of a months free credit.
Paying with a Debit card is also a cash transaction, and again you are paying for a benefit you have not used.

[NoMoSno]

Originally Posted by Two Bills

Credit cards paid off each month is Free credit.
The retailer pays the cost of CC transactions and is a built in cost on items sold.
By paying cash you are still paying that built in cost, without the benefit of a months free credit.
Paying with a Debit card is also a cash transaction, and again you are paying for a benefit you have not used.

There are many businesses that offer a cash discount, even the DMV.

[jimmy o]

Originally Posted by shut the front door

if it passes. I hope it does. I had to whip out a credit card to pay for a $1 bag of chips recently and it did not make me happy.

"Refusing cash payments could become illegal for most Florida businesses in 2024 under legislation sponsored by state Sen. Shevrin Jones, a Miami-Dade County Democrat, and state Rep. Joel Rudman, a Panhandle Republican."

Florida May Stop Businesses from Going Cashless

While I too think that cash should be allowed, I really believe government should butt out of business affairs. There may well be a good reason for a particular business to operate cashless, theft being the big reason. Theft can be from an itchy fingered hold-up man, or from a light fingered employee. Going cashless eliminates both of those theft options. Small business in particular can be really hurt by either type of those thefts. Government should leave it up to the business how they choose to operate, and the public can chose to frequent there or not.

[Richpetty42]

Can also start to follow the BRICS monetary model too.
It’s not just the state, the US government is looking to changing its monetary system, no cash, everything will be digital and like you said they can monitor everything you buy, stop payment on purchases, withdraw taxes and even stop payment/deposits if they want. Not looking good if this happens

Originally Posted by Pugchief

I find this ironic. Everything I have heard/read in the last 3 years involved moving toward a cashless society. You know, so that every single transaction can be monitored and taxed. And also so that they can turn off your ability to buy things if you don't behave. AKA the CCP model.

[CoachKandSportsguy]

Originally Posted by Pugchief

They absolutely should be, and I have no issue with that aspect of cashless. It's the more sinister aspect, where banks, the pols, whoever has the ability to decide you can't spend or bank based on some dubious reason related to social credit.

totally agree. .

totally Orwellian. . .

never accept how people market new ideas as only positive. . similar to how people have marketed AI recently . . as not a threat to jobs but requires job increases . . .

Well OOOOPS, that marketing crap didn't age well:

Google may layoff 30,000 employees as AI improves operational efficiency: Report - BusinessToday

[MightyDog]

It isn't remotely nonsense and in the early 21st century it's amazing how trusting (or naive depending on ones point of view) people can be. The game plan is utterly clear because TPTB make no secret of it. In fact, they announce their plans. Start with the book by Klaus Schwab, head of the World Economic Forum, called: The Great Reset. Take the guy at his word.

Expand knowledge gathering from there. There is much, much more. Central Bank Digital Currencies being another big one. See Atlantic Council website for info on those and their progress.

[CoachKandSportsguy]

Originally Posted by OrangeBlossomBaby

If you want to give the government control over regulating how companies are allowed to do business.

The government currently regulates how companies can do business, and the government should set the rules for competition, and then enforce the rules of competition.

There are state insurance regulations, state medical regulations, state/local hours of operation, state wages and benefits requirements, etc. . . there is anti trust regulation, there is product safety regulation, there are labor regulations, etc. . . . there are plenty of financial regulations on qualifications to sell financial products, etc.

In the 80's, bank perps went to jail, then the rules changed, and companies paid fines, which is shareholder money. So that creates moral hazard, and not a hard deterrent. The problem is recently, the government went lax on enforcement, particularly the SEC.

Companies need to know their limits, and the rules of the game, and the enforcement needs to be relatively swift and not paid with shareholder cash. Then let companies fight among themselves for our business. . . then you have capitalism properly.

I won't go any farther in the government downfall, as that falls into the the prohibited type on TOTV. .

[MrChip72]

Originally Posted by MightyDog

It isn't remotely nonsense and in the early 21st century it's amazing how trusting (or naive depending on ones point of view) people can be. The game plan is utterly clear because TPTB make no secret of it. In fact, they announce their plans. Start with the book by Klaus Schwab, head of the World Economic Forum, called: The Great Reset. Take the guy at his word.

The Great Reset is a QAnon driven conspiracy that's been discredited by almost everyone credible people that have any knowledge on the subject.

[MightyDog]

Originally Posted by MrChip72

The Great Reset is a QAnon driven conspiracy that's been discredited by almost everyone credible people that have any knowledge on the subject.

Good grief, the internet is a friend to all. The BOOK I named has been sold on Amazon and other booksellers for over 3 years! It's a conspiracy alright, an intentional and specific plan that has been announced and put right in front of us. If only more had the eyes and willingness "to see".

Since his book published, Schwab has been interviewed or given speeches many times where he has described more details of what they intend. Many of those ^^^ are available for viewing on various websites. Dial-in already.