The cashless society

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RubberRims's picture
Status: Silver Member (Offline)
Joined: Nov 22 2008
Posts: 145
The cashless society

Just a thought. Cash in the form of notes and coins may actually be the last refuge of our real individual freedom. But only for the poor of course.

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Our banks and financial institutions face two problems that are becoming more overwhelming with each passing day. First, they are drowning in paper. There is simply no practical way to cope with the amount of paper needed to record and verify the millions of personal and business transactions taking place every day of the year.

Second, when transactions are not only increasing in number but involving much larger amounts of money than ever before, essential control over those transactions is lacking. There are more and more instances of bad check passing and non-payment of bills.

Banks already have begun to cope with the first problem through electronic funds transfer, one aspect of which we see every day in the form of the automated bank teller machine. This use of the computer has contributed to alleviating the paper overload somewhat. 

IS WEALTH CREATED WHEN YOU SIGN A PIECE OF PAPER AGREEING TO PAY. Your 'promise to pay' creates money. Yours, and everyone else's. 


But wait. Now consider taxes via computer as only part of a seemingly harmless procedure as well as a cost-efficient one. Now the government, the banks and the Internal Revenue Service have control of the one and only tool it can use to keep your way of life moving.

agitating prop's picture
agitating prop
Status: Platinum Member (Offline)
Joined: May 28 2009
Posts: 864
Re: The cashless society

You wonder to what lengths the PTB will go, to insure that all transactions occur within the dominant  economic money matrix. If barterer A tends the garden of barterer B in exchange for shoe repair, for example, will they face stiff fines, penalties, jail time? Will this be a source of secondary income for a whole tier of govt. paid part timers? The Chinese used to fear the wrath of 'neighbourhood grannies', elderly local women who did what came naturally and were rewarded for it!  Will we see the same system emerge in the developed nations?

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