Big Tech, Big Banks Push for “Cashless Society” | Economy

Big Tech, Big Banks Push for “Cashless Society” | Economy



I cannot understand why banks are in favour of a cashless society manifesto. They are merely paying lip service IMO. Big banks make millions from drugs and armaments smuggling and for sure, they ain't gonna give those millions up!!

By going digital, every transaction will have two reference numbers, which can be traced. Even Bitcoin moves can be traced. So we will all return to the barter system, which paper money supposedly did away with, but actually did not completely.  If two peeps agree on a value of two items and swop them, then that is bartering. A watch at £240 for 5 grams of coke, deal. Sure it becomes storage warehouse time, but it can be done.

Another way is to carry gold and silver ingots to pay for stuff. As there would be no change given, prices would, of course, rise!! Would daily rates also fluctuate against fictitious money!!!???

 I actually love the card system as I am disabled and currently housebound. I buy practically everything via computer, pay electronically and arrange/ get notifications, deliveries, with very few exceptions. For the rare cash items, I move some money from my bank to a friend's account and he withdraws it, from there, for me. This gets around the banking regulations about transfer of cards, which every family does anyway!!

I am taking delivery of a brand new Ford Transit based converted van, next week, with some apprehension about joining damn queues, again, to pay for diesel, fast food, parking and so on, even with cards. My plan is to play the disabled card and jump the queue!!! Thank goodness for 24 hour garages with shops attached, all began by hard working families who Idi Amin deported from Uganda, having allowed them to move from India and Pakistan following Independence and partition in 1948. Muslims were a minority in India, were attacked and treated like crap, which was why an Independent Pakistan was formed. They wanted the whole top corridor, which made sense, but instead ended up with the ludicrous East and West Pakistan as it is now. Before these families began opening their shops late, the whole of retail Britain basically closed at 1800 hours, except for public houses, which closed at 2130 hours and never opened on a Sunday as did nothing else. A bit like nonmetro France, today!!. So bravo to these British nomads!!

Anyway, get back to the point. The totally cashless society will just never happen. If it did come in, tourism would be dead, completely. Can you imagine rocking up to a shop, on an island with no internet and presenting your Amex Platinum card??  The cost of going worldwide cashless precludes it from happening, simple.