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Abolition Of Cash

Fame At Last!

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Timmee  Male  Hampshire 3-Apr-2017 18:47 Message #4682778
Radio 4's P.M. programme are debating whether or not cash is useful these days and whether or not it should be retained.

I was listening and felt that by concentrating on convenience they were rather missing the point. I fired of a quick email whilst the item was still on (just before the 5.30 headlines and was amazed to hear it read out by presenter Eddie Mair only 3 or 4 mintues later. Someone was paying attention LOL.

"Cash is massively important to all ordinary citizens because it prevents government and banks confiscating money you have earned and saved by Negative Interest rates. Cash is a guarantee of genuine democracy. Without it we are captives rather than citizens."

What do you think?
wonderoushen  Female  Gwynedd 3-Apr-2017 18:56 Message #4682781
I agree Timmee, good for you in getting an important point publically aired. Cash is hugely important if you're a sole trader business, banks are trying to get rid of cheques, sole traders get a lot of these, banks want us to do everything electronically at our expense. Many older people arn't comfortable with card payments and other forms of electronic payments, there was a thing in one of the weekend papers about how many older people don't understand technology and the effect this has on their banking and services they may need.

The other thing is if everything was electronic what happens if theres a power cut? Our local shop had to close when there was a power cut as not only would their card machines not work, but they couldn't get the till open to take cash either. If its that bad for a couple of hours of power cut imagine what it would be like for longer, or if you could get no gas because the prepayment machine isn't working?

Keep the cash.
wholelottakaren  Female  Lincolnshire 3-Apr-2017 19:01 Message #4682782
currently a lot of shops wont take a card for less than a fiver and it galls teh hell ou of me when theatres etc put on a charge for paying by debit card ie e- cash
Timmee  Male  Hampshire 3-Apr-2017 19:26 Message #4682784
There is also the question of 'Bail-Ins' (as happend recently in Cyprus).

If the banking/finance sector behave with criminal wrecklessness and abuse the fractional reserve banking system by massive over-lending, when the crisis comes they demand that the government rescue their shareholders, bond holders, derivative holders and senior execes (ie. all those who did the crime). The government can rescue bad banks in two ways.
1. 'Bail-Outs' where they inject billions of government (taxpayer and future taxpayer) funds into the banks.
2. 'Bail-Ins' where they freeze & confiscate funds from the bank accounts of ordinary citizens.
If you abolish cash you make 'Bail-Ins' much more likely.

So yes - there are criminals and they like cash for obvious reasons, but (far more importantly) the existence of cash ensures that a goverment can't go mad with the use of Zero Interest Rates, onerous bank charges and 'Bail-Ins' to confiscate the money that its ordinary citizens have honestly earned and saved. That's why I say cash is an important guarantee of democracy and private property.
HonestBob  Male  the Central region 3-Apr-2017 20:24 Message #4682796
Well as I have mentioned on a previous thread, I never carry cash, everything is card with me.

Few places I go to won't accept card for anything less than a fiver, in that case I only go there if I'm buying a few things.
brisinger  Male  Lancashire 3-Apr-2017 20:58 Message #4682798
If you live in an area like me with a massive market, cash is required. It would cost the storeholder more to sell, say a battery, than the cost incurred having to use a plastic payment machine. Most stalls trade in cash in preference to plastic and many don't have plastic facilities in the first place. A market doesn't work in the same way a supermarket works as in 'one-shop-sells-all'. An open market is homogenous whereby a number of separate small businesses create a single whole.
brisinger  Male  Lancashire 3-Apr-2017 21:12 Message #4682799
Cash also has bargaining power. For instance my local marine fish shop, The Living Reef, now often sells me at below standard price as a regular customer. (He's currently, for instance, got a deal on hold for me for pyjama cardinalfish.) Something that would be harder to set up using e-money.
Sea Urchin  Female  Essex 3-Apr-2017 21:47 Message #4682802
In some countries you would come pretty unstuck wtihout cash. For example when flying from Maumere Airport on Flores to Dempasar Airport, Bali the ticket was bought at the airport and they only accepted cash for payment. They would not accept any cards or cheques just cash only. But I prefer to have some cash on me, especially for small purchases. It is alwyas useful at craft fairs and the like, where indivdual people will sell a few things they have made themselves and do not have facilities to pay by card. Also less chance for fraud when paying by cash. For exmple my card was cloned once and I had Canadian Dollars taken from my account whilst in England. Never been to Canada. It was traced to a garage in the Peak District where I had bought petrol. Thankfully money refunded by the bank. It made me very wary of using cards after that. But I really do not like the idea of big brother watching and knowing exactly what you are spending your money on. I just hope cash continues to survive.
BunnyGirl  Female  Buckinghamshire 3-Apr-2017 22:01 Message #4682804
What happens if you want to give cash as a present if they abolish cash!

Can't see how they can really.
Minnie-the-Minx  Female  Hertfordshire 3-Apr-2017 22:08 Message #4682805
I am going to Greece on my holibobs soon. Last few years, it has been cash only. A few years ago, they had all their money frozen by the banking system. That was their hard earned dosh that the bankers were "looking after" and now no-one trusts emoney.
And who has forgotten the Icelandic bank confiscating dosh from folks here and quite a few county councils that banked with them? They never got it back.
A no cash society does indeed facilitate e theft.
Wry  Male  Norfolk 3-Apr-2017 22:26 Message #4682806
I dress to the left. I need cash in my right-hand pocket so I can walk in a straight line.
HonestBob  Male  the Central region 4-Apr-2017 04:41 Message #4682810
"What happens if you want to give cash as a present if they abolish cash!

Can't see how they can really. "

My Mum lives far away from me, and for Mothers Day I put money into her bank. It took two seconds and a few taps on my phone screen.
Wry  Male  Norfolk 4-Apr-2017 07:31 Message #4682827
Well, it's the thought that counts, Bob, and I'm sure your Mum appreciated both of those seconds.
The_Snow_Covered_Fool  Male  Cheshire 4-Apr-2017 08:13 Message #4682836
But HonestBob the points is not everyone trusts e-banking for one reason or another.
E.G. Would your Mum be comfortable sending money to you via e-banking ?

Personally I wouldn't trust it with a barge pole, until they can make PC's, phones and tablets uncloneable or the banks systems unhackable or your provider accounts unhackable (Remember Yahoo or TalkTalk) I won't use it.


Sea Urchin  Female  Essex 4-Apr-2017 08:26 Message #4682839
Honest Bob, Did you also send your mother an e-card, along with a message to check her bank account, so she knew the money was there? Oh and perhaps a bunch of e-flowers also.?

I really don't think you can beat the personal touch and actually receiving gifts and things in your hand. You do feel you have actually recieved something then, rather than just looking at a bank balance going up and down. I certainly appreciated all the gifts and cards I received on Mother's day. It was the thought that was put into it and being appreciated far more than a simple two click.
HonestBob  Male  the Central region 4-Apr-2017 09:34 Message #4682844
Wry, Yeah it is the thought that counts, I'm not a good gift giver to be honest.

Snow, Yeah I get the point completely, and I'm not disputing the uses of cash, but for me, it works. I would never accept money from my Mum, and I have no idea how she feels about sending money via digital banking. She does use digital banking though.

Sea Urchin, No no E this or E that. I also agree the personal touch is better... Thing is, I'm terrible at it. Without going to deep, my Mum does struggle with money, and every opportunity I get I give her money. I don't just randomly give her money because she goes in a huff, and she never asks.

Would she appreciate a thoughtful gift more... Yes, I agree.
Timmee  Male  Hampshire 4-Apr-2017 10:22 Message #4682851
The chap who polishes the walnut trims and buffs the leather in my Bently only accepts cash, so if it were to be abolished ... blah. LOL

But seriously, I believe there may be a push to abolish cash in the medium term (there are subtle signs already) and I think it's improtant that the citizens make a determined fight against such a move.
HonestBob  Male  the Central region 4-Apr-2017 10:36 Message #4682857
"The chap who polishes the walnut trims and buffs the leather in my Bently only accepts cash, so if it were to be abolished ... blah. LOL"

Yes, and you won't be able to slip a £20 in to a strippers g-string either Hehe... Reminds me of a joke, crude for on here I'm afraid :D
Wry  Male  Norfolk 4-Apr-2017 11:14 Message #4682862
It sounds as though you're doing well by your Mother, Bob. Nicely done.

About that stripper joke, is it the one with the wellies full of fish?
HonestBob  Male  the Central region 4-Apr-2017 11:18 Message #4682865
"It sounds as though you're doing well by your Mother, Bob. Nicely done.

About that stripper joke, is it the one with the wellies full of fish?"

I do try, and she does make it difficult.

No, it's the one where the punch line is "Swipe" in an Irish accent!!! :D
wonderoushen  Female  Gwynedd 4-Apr-2017 19:03 Message #4682950
Wht about car boot fairs and charity donations? If there was no cash then CB's, village fetes and fairs would vannish as would coin operated vending machines, loads of charities get loads of money from small random donations of loose change put into a box by a till.

Until they can provide reliable mobile coverage in all areas then getting rid of cash would mean whole areas being without any means of mainstream commerce, I don't trust online banking, I don't trust its security and I don't trust that my technoklutzness wouldn't end up crashing the whole worlds ability to bank.

If banks want us all to go cashless then they'll have to stop charging businesses for card machines, the charges are extortionate, especially for small businesses, when shops won't take a card payment for anything less than £5-£10 its because thats how much it takes before they can make any profit from a transaction.
Kisses after midnight  Male  Lothian 4-Apr-2017 20:51 Message #4682972
I much prefer using cash, and it's great to see some solid support for it ... but I feel we may eventually be heading for a cashless economy, with all its risks and lack of personality.
Bewildered  Female  Norfolk 4-Apr-2017 20:55 Message #4682973
So what would we put in the Xmas pud?
what bout the tooth fairy?
Penny for guy?

And you would never " find a penny , pick up, all day long have good luck !!!
Kisses after midnight  Male  Lothian 4-Apr-2017 21:14 Message #4682981
Alas, tooth fairies no longer carry a wee bag of sixpences around with them. They may just have to leave an e-voucher under the pillow soon ...
Bewildered  Female  Norfolk 4-Apr-2017 21:20 Message #4682983
awww but thats just not the same a nice coin lol

The last time I lost a tooth there was no fairy just a thieving dentist lol

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