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Discussion Starter #1
Possit:
Eliminate all hard currency. Only banks can accept it after a given period of time. All hard currency in existance will be accepted by banks 'forever.' Hand-to-hand cash transactions become unlawful subject to fine and forefeiture.

Thoughts?

Reasons:
If eliminating the $1 bill will save billions of government dollars, then eliminating making of ALL money will save more!
Will make counterfeiting unprofitable.
Will make drug dealing a thing of the past.
Will make cash jobs a thing of the past.
 

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Will make selling your carparts on craigslist a thing of the past.

Cash talks, this idea sounds like something that walks.

I have no interest in having every transaction I make trackable for big brother.
 

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Discussion Starter #3
Will make selling your carparts on craigslist a thing of the past.

Cash talks, this idea sounds like something that walks.

I have no interest in having every transaction I make trackable for big brother.
Not at all. There is a very simple app for phones and a card swipe that is rather inexpensive for home or mobile phone.

The tracking factor is a possible sticking point... But if someone is a wanted felon? Has a judgement against them? Back Child support? Fines? Back taxes? etc. Mugging is a thing of the past. Armored car robbery? Gone. Bank robbery? gone. Convenience store robbery? Gone.
 

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Kind of hard for your kid to be given a couple bucks and go to the store for a candy bar. Plus, I wouldn't want my kid running around with some sort of debit card. It would be easy pickins for thief's if they knew kids had them.

It would put all the small time vending machine companies out of business unless they could afford cellular modems and update all their machine to take credit cards.

If I want to pay the neighbor kid to mow my lawn, I don't want to have to got through some rigmarole to pay him.

I don't want to have to pay a fee to some third party every time I give or pay money for something or to someone.
 

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Discussion Starter #5
Kind of hard for your kid to be given a couple bucks and go to the store for a candy bar. Plus, I wouldn't want my kid running around with some sort of debit card. It would be easy pickins for thief's if they knew kids had them.

It would put all the small time vending machine companies out of business unless they could afford cellular modems and update all their machine to take credit cards.

If I want to pay the neighbor kid to mow my lawn, I don't want to have to got through some rigmarole to pay him.

I don't want to have to pay a fee to some third party every time I give or pay money for something or to someone.
Good concerns!

A lot of parents are leaving the cash system and using VisaBuxx anyhow.

Vending machines in cities use cards, now. But that technology would need to move to the other arenas as well, no doubt.

Neighborhood work would need to be addressed.

Fees would go away as banks worked to get customers by being the 'first to offer no fee transactions' and the like.

A lot of work would need to be done. Very good points! The transition would be difficult.
 

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I haven't heard of the VisaBuxx card, but it looks interesting when I went on their site.

You do have to admit, there is nothing like rolling up to friends and pulling out big wadd of cash.

Cash money also helps when buying from a private party sometimes. I bought a Camaro about 20 years ago and got $500 off only because I enticed the guy by laying out all the 100's on the hood of the car and telling him that's what I was willing to pay him.
I wasn't lying. That was all I was willing to pay, but his eyes lit up with all those bills laid out. It took him a bit, but I kept doing the Vanna White arm sweep:laughing:
A friend of mine was there with me and we still joke about that.
Try that with a debit card:smack

Seriously though, I find it hard to imagine absolutely no cash.
I don't use much cash myself these days, but when I have a private deal I feel it's a necessity.
 

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Discussion Starter #8
Good points.

Panhandling. GONE!
 

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The transition would be difficult.
Like converting to the metric system!

Tracking transactions would quickly lead to TAXING transactions. Don't forget that uncle sam would love to get his percentage when you buy that LS6 from your friend down the road. And he better save that receipt when he files his taxes. That is earned income for big brother.
 

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Possit:
Eliminate all hard currency. Only banks can accept it after a given period of time. All hard currency in existance will be accepted by banks 'forever.' Hand-to-hand cash transactions become unlawful subject to fine and forefeiture.

Thoughts?

Reasons:
If eliminating the $1 bill will save billions of government dollars, then eliminating making of ALL money will save more!
Will make counterfeiting unprofitable.
Will make drug dealing a thing of the past.
Will make cash jobs a thing of the past.
Sounds like a perfect boon for the banksters.
Every time your Visa, Master Card, Discover, or Am Ex is swiped the parent company gets a percentage.

In addition it gives the Banks virtually unlimited control over transactions.

Final note, cashless transactions take the emotion out of spending. On average a person spends 25% more when using a card over cash. Its that much easier to Super Size your fries when you don't have to lay down a whole Hamilton for it.
 

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Why would we cut our own balls off ? Our currency is the pinnacle of all currency traded for goods and products, more then any other currency in the world. We are the standard. Why would you want to dilute that ?

It is like stating that we have all the gold... lets look at silver as a trading currency rather then gold.
 

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Like converting to the metric system!

Tracking transactions would quickly lead to TAXING transactions. Don't forget that uncle sam would love to get his percentage when you buy that LS6 from your friend down the road. And he better save that receipt when he files his taxes. That is earned income for big brother.
We have a thinker... :thumbsup:
 

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Discussion Starter #14
Why would we cut our own balls off ? Our currency is the pinnacle of all currency traded for goods and products, more then any other currency in the world. We are the standard. Why would you want to dilute that ?

It is like stating that we have all the gold... lets look at silver as a trading currency rather then gold.
It is linen. It means nothing. It is only a promisary note, anyhow. Making it electronic does nothing to its value.
 

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Really... I'll tell you what. If it is only linen and promissory... and means nothing... allow me to take it off your hands. Put your cloth where your mouth is. If you can keep from suffocating, I will gladly take that **** off your hands. ;)
 
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