Cashless society very soon

[kz45]

Interesting. Tinfoil hat?

 

[AustinBR]

I'm still okay with it. Cash is archaic and can go away tomorrow for all I care.

 

[Magdump]

I'm still okay with it. Cash is archaic and can go away tomorrow for all I care.

LMAO! Well, since you put it like that and you being a banker and all, I guess we shouldn’t be concerned.

 

[Magdump]

A cashless digital currency makes every power hungry politician salivate in extasy. Once we are there they have total control and will track everything we do. There will be no more buying your buddies gun without them knowing. That money given to you as a present from someone, paying TAXES on that. Here little Jonny, a couple of thousand for College....be sure to fill out the IRS form.

Not to mention the power to turn off your money. Period. It’s one thing to be able to freeze someone’s bank account like they did to so many folks in Canada recently, but to be able to completely control whether a person can buy or sell, pay a bill or receive any sort of payment…or not. That’s a lot of power. That’s a lot of control.

 

[Magdump]

Interesting. Tinfoil hat?

Frankly I’m surprised people still bring up tin foil hats after all we have seen in the past few years. I think at this point, there are mostly those that believe the obvious and those who think they’re better off not knowing.
Edit: watched the whole thing. Good material. I like his views points as well. There is nothing non-factual in that video to my knowledge.

 

[Magdump]

So, how many of you guys are planning to use freedom seeds as currency when things go to SHTF?

 

[kz45]

So, how many of you guys are planning to use freedom seeds as currency when things go to SHTF?

They can most certainly be used for that but, you'll be turned in to the authorities shortly after by neighbors, in some cases family members for being a terrorist.
The Gulag Archipelago

 

[lesgeaux]

"The Obsolete Man" -- Twilight Zone

 

[buttanic]

I have no problem with cashless myself. I use a CC or my debit card. One of my CCs pay me back 2% on purchases so i try to put everything on it I can on it. I pay off the balance monthly, never pay interest or fees. Car insurance twice a year, annual homeowners insure premium, all high dollar purchases, monthly Spectrum bill, my phone bill. All earn me 2% into my Roth IRA paid monthly. I have not paid CC interest or a fee in 25 years min. Ditto my bank, zero monthly fees.

Paper currency is nasty, never gets washed, transferred via hands. Ditto coins. When I have used currency like at a fast food drive up during the pandemic, I tell em to keep the coins. Minimize hand to hand transfer/germs. I keep a cash currency stash in my center console, < $60. Small denomination bills, paper change back mostly.

I keep a $1000 in twenties in my safe just in case I need it. I used to keep more but no need today, everybody accepts a CC.

Except when the system is down, which will be when you need it most. Good thing I kept $2000 in csh in the house becuse after Ida destroyed the system cash was the only system that worked.

 

[Fordfella]

I recently sold my 450 bushmaster rifle and ammo, dude paid me in all twenties. Ditto for the guy who purchased my 300 BO pistol. Because they get cash from the ATM. All was deposited @ my bank collectively. First time I ever walked into a bank with a mask on...........but no note

I spoke to a man who claimed a teller refused to help him until he took his cap off, so the cameras could see his face. She didn't say anything about the .45 on his hip.

 

[Fordfella]

Judging by the responses in this thread, cash will be done soon. Sad... Sounds like quite a few here are working credit cards the right way, but also trusting banks to keep their savings safe and accessible. Don't trust the banks, just look who works in them...

I don't trust the banks the way I used to. I have been banking with a local bank here in town for about a decade. Their headquarters was across town. They recently merged with a bank in headquartered in Memphis. I wasn't happy about that, but I was giving them a chance. The merge was complete for about a week, when that bank was bought out by a bank in Canada.
The Canadian bank froze the accounts of trucking protesters. My money is my business, and the Canadian Prime Minster needs to stay out of the equation. I'm switching to a local bank again with headquarters in the next parish. I'll also be closing my investment account with TD Ameritrade as soon as I decide where I want to transfer them to. Any recommendations?

 

[jbanks2]

Cashless Society = Barter Society...

 

[Magdump]

I’m amazed at the number of folks, even a banker, who seem to think CASH=paper money only.
Converting to a digital system will mean leaving the dollar. The current events to do with the oil trade has hammered the final nail in the coffin for the petrol dollar, the world currency. Remember, oil was only bought and sold in US dollars, which kept it strong and gave it the world currency status. Russia and China are now bypassing the dollar when buying and selling oil. Middle eastern countries are following suit. The US tried to keep this from happening years ago you may remember we killed a world
leader to prevent Egypt from trading in gold, Iraq suffered the same fate. Now Saudi has agreed to accept other currency for oil. Going cashless will mean giving an entity complete control over our monetary system. Complete control over our bank accounts. During the recent Canadian trucker protest, we know that a great number of bank accounts were frozen. If that was a surprise to anyone here, the system they’re preparing to roll out will make that look like a minor anomaly.

 

[Magdump]

I don't trust the banks the way I used to. I have been banking with a local bank here in town for about a decade. Their headquarters was across town. They recently merged with a bank in headquartered in Memphis. I wasn't happy about that, but I was giving them a chance. The merge was complete for about a week, when that bank was bought out by a bank in Canada.
The Canadian bank froze the accounts of trucking protesters. My money is my business, and the Canadian Prime Minster needs to stay out of the equation. I'm switching to a local bank again with headquarters in the next parish. I'll also be closing my investment account with TD Ameritrade as soon as I decide where I want to transfer them to. Any recommendations?

Your concern is justifiable. Laws are different in Canada. A Canadian bank is not bound by US law. I do my banking with two different local credit unions. It’s been working for me for about 30 years.
I wonder what will happen here in the US when accounts are frozen because of social gestures as occurred in Canada. Accounts frozen for monetarily supporting a cause. Done so well after the fact. The victims never broke any laws, mind you, but Canada levied punitive measures anyway. News flash: China (communist) has been doing this sort of thing for decades. They’ve got population control down to a science. Social scoring, complete monitoring of their citizens. Who doesn’t believe our Federal government doesn’t want to ultimately have the same here? Looks like the Australian government has got its peeps locked down pretty good too.
I don’t know how anyone can honestly think it can’t happen here when they’re seen so many other ‘never gonna happens’ happen with their own eyes. Let the tin foil hat comments fly.

 

[Jed]

I take it that those who think it's a good idea would be fine with their guns being confiscated by some faceless burocrat at the click of a mouse?

 

[Magdump]

Bought a little more silver and gold last month. Dollar is still holding strong for the moment.

 

[RaleighReloader]

There are some huge differences in banking between Canada and the USA. Most Canadians bank at one of five major banks—RBC, TD, Scotiabank, BMO, and CIBC. A much higher percentage of Americans bank with smaller banks, which I believe number in the four-thousand-and-something range. There are indeed some large American banks, but the system is still a lot more spread out here.

This is good and bad ... but anyone that believes that the government can't swoop in and lock your accounts is dreaming. There are several mechanisms that the government can—and will—use.

Even if we turn into a "cashless" society (which I don't believe will happen in our lifetimes), there will still be lots of things used as barter currency. Gold, silver, and diamonds are a few examples. The government can try to outlaw this all they want, but a government agency can hardly stop a person from handing someone an ounce of silver.

Mike

 

[Magdump]

There are some huge differences in banking between Canada and the USA. Most Canadians bank at one of five major banks—RBC, TD, Scotiabank, BMO, and CIBC. A much higher percentage of Americans bank with smaller banks, which I believe number in the four-thousand-and-something range. There are indeed some large American banks, but the system is still a lot more spread out here.

This is good and bad ... but anyone that believes that the government can't swoop in and lock your accounts is dreaming. There are several mechanisms that the government can—and will—use.

Even if we turn into a "cashless" society (which I don't believe will happen in our lifetimes), there will still be lots of things used as barter currency. Gold, silver, and diamonds are a few examples. The government can try to outlaw this all they want, but a government agency can hardly stop a person from handing someone an ounce of silver.

Mike

How much longer do you believe the US dollar will hold the World Reserve Currency status that we’ve enjoyed for most of our lives?

 

[Forgotten]

How much longer do you believe the US dollar will hold the World Reserve Currency status that we’ve enjoyed for most of our lives?

I can't imagine much longer seeing as we are currently 31 trillion in debt.

Could A Run On The Banks Occur? | Finance Weekly

 

[Seadonist]

I can't imagine much longer seeing as we are currently 31 trillion in debt.

Could A Run On The Banks Occur? | Finance Weekly

Last time I checked, about a month ago, our national debt was 131% to GDP. Very worrisome but what worries me most is that our economy is built on debt and would actually grow at a negative rate if debt were to begin being paid off. Not that it matters though because there isn’t enough money in the economy to pay off anything more than a portion of the interest. A debt based economy by nature is inflationary at its core and is unsustainable when being approached from a traditional value based economic model (gold standard). Therefore, cashless monetary policy is HIGH on the gov’s list of to-do’s. The alternative is a crash unlike anything ever witnessed throughout the history of humanity. The proverbial pooch has been screwed and, sadly, I think we’re all along for the ride

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