Okay by me........ as long as I'm in control of the on/off switch.

Some years ago the feds put a system in place to track credit card purchases. This was said to be set up so that they could track terrorist activity. We all know that the feds would NEVER abuse such a system (sarcasm). So, if a prudent prepper were to want to buy supplies they would do it with cash. However, if you buy guns, ammo, or large non-perishable food stocks with cash, that could also get you on the list.

First of all the government should not be in the business of telling people what counts as money (legal tender laws). Because of these laws and the government attacking people's bank accounts without warrants, what would have been a good and useful technology is now feared (to be feared). The problem is not a cashless society, it is a government out of control.

One of the biggest problems with a cashless society is that it places all the power over the economy in the hands of the government via the big banks. They can inflate and manipulate the currency to their hearts content and there is no check on the system. They can create "money" out of thin air to use for their spending, yet criticize you when you want to transfer more than $10K.

The other thing it allows is for vast data mining - and the control that comes with it. They now can sell all your buying habits to marketing companies. They can sell your political donations to political activist groups so you can be shamed, persecuted, and run out of your job.

The last thing it does is vastly enrich the credit card companies. It's proven that there is a psychological pain that accompanies paying with cash that is not present when using virtual currency. This pain in parting with hard-earned fruits of one's labors leads one to more carefully evaluate the costs of wanted items and seek for better deals - or even not spend at all. Using virtual currency encourages the spendthrift and debt and discourages savings which then fuel investment in the future.

No, I for one am 100% against virtual currencies.

I was listening to Beck last night talking about this... they brought in "negative interest", and for some reason they could not explain it, but that concept is simple - it's a tax, charged by a company, to hold your cashless credit quantity (I won't call it "money" as that's the one thing it's not)... For some reason people are up in arms thinking this is somehow new, but the concept of "service charges" by the banks for having an account there have been around for decades...

What's new is the way that service charge is calculated - instead of being a flat monthly fee (say $34.95 a month), it's a percentage of what they're holding - say 1% So if your account has your businesses monthly payroll of $250,000, it costs you $2500 a month instead of $35 a month.

And without the ability to pay and trade in cash, EVERYTHING you transact will be subject, not only to the taxes of the State, but the "fees" of the looter.

Still wonder why they want a cashless society? It's a profitmaker for those banks that were bailed out as "too big to fail", except now they're making sure they have their hands in everyone's wallet, so they, by right of existence, be fed by you, whether you wish to feed them or not.

In other words, it's a hell of a looters racket. Get rid of cash, and we get a cu of everything.

Man, I betcha the old mobs wish THEY could have thought up a racket as sweet as what the new nobs (eg the bank/fed monopoly) thought up... all nice and tidy and legal.

Us deplorables would not stand for it here.

they will require you turn that all in by a certain date, OR it will become worthless.

I think its an idea pushed by reckless governments who want complete control over our finances. First they got rid of the gold standard, with the result being massive money printing to fund their coffers. With cashless society, they can control our spending too with the result they can control the effects of their money printing better- and therefore do more of it.

If being owned is one's desire, it's great.
spelling edit

Sweden is next...most likely by law.
Last week, BOA stopped excepting cash in Australia.
India is in turmoil.

Can someone get a message to trumpet...Now this, is where we could use his strong man routine.

Just think of working hard and having Nothing physical to represent that hard work...not a good thing for humans...just an infinitesimal, insignificant part of the collective...talk about breaking your spirit. Can you see where this would lead psychologically?

Back to small denominations of gold and silver I say.

I really hate this. A paperless society strips away any degree of anonymity and allows the faceless unknown to freeze or steal what's rightfully yours and/or redirect your income from an employer.

Great take mm, add to that an infrastructure crash!
Then your down to barter for survival...that's why I say BOTH, what's wrong with BOTH?

They can't Take when you have both...that's why.

It would lead to abuse by the looters. If it starts to approach here I am loading a safe with paper...

There would be no way to avoid onerous taxation with a cashless society as I assume is the point for government insisting on going that way.

When you have no cash and all is done electronically, you are at the mercy of those that control the electrons. If they make a mistake or do some deliberate harm to you "Money" it will be almost impossible to prove you have been wronged and to recover you money. If they say you have none in your account, you have none. If you have cash, you can prove you have money simpley by showing it.
I realize this may seem farfetched, but just thnk about how the money in the banks disappeared at the time of the "Great Depression". People were gie pennies on the dollar for their money in the bank. Try getting nothing on the dollar in a true cashless society.

I agree. Perhaps LifeLock would be a good investment.

Perhaps the critical step.

I hate it.

It is the classic trading of freedom for convenience.

There are so many many ways this could be abused, and not just by the government. Although the government will have the greediest hands in your account. Identity theft will be a growth industry for sure.

Simply one step closer to complete government control over their subjects.