Cash No Longer King: Europe Accelerates Move To Begin Elimination Of Paper Money

Cash No Longer King: Europe Accelerates Move To Begin Elimination Of Paper Money

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Reply to
burfordTjustice
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Persoannly, I don't see how proposing laws that stops people putting 10 grand (cash) on the table when they buy a second had car (or whatever) affects normal citizens in any way at all

tim

Reply to
tim...

People that work and save may well be able to do such Who are you to tell them they can not?

Reply to
burfordTjustice

Cash is the medium of choice for theft, money laundering and illicit transactions because it's untraceable. If large transactions and high denomination notes were to be eliminated, it would make such activities more difficult to accomplish anonymously.

It may also reduce the sale of large brown envelopes, but that's a downside I'm sure we could all live with for the greater good.

Reply to
Norman Wells

Criminals could also be considerably inconvenienced by the banning of trousers... it is nearly certain that almost all criminals wear trousers some of the time.

Reply to
Joe

I think my solution would have a rather more direct effect however.

Reply to
Norman Wells

It will stop crime in the same way as loads of CCTV cameras and Internet and phone snooping keep us safe by stopping terrorism.

You don't normally come across as that gullible...

Reply to
Joe

Cash is still the medium of choice for theft, money laundering and illicit transactions. If it didn't exist, it wouldn't be, and it's somewhat difficult to see what else that is completely untraceable yet valuable would replace it.

Reply to
Norman Wells

If you totally did away with cash, bitcoin would take over. It is already the medium for large illicit transactions across borders and there is not much the government can do about it.

Reply to
gfretwell

Easy they get the free use of your money or pay you a fraction of what they get for using it.

Reply to
gfretwell

OK as long as it isn't those big round rocks they use in the South Pacific. I would need a bigger wallet.

Reply to
gfretwell

Per snipped-for-privacy@aol.com:

When I was a kid I saw a documentary on those rocks... and how the economy of an island called Yap collapsed after the introduction of some sort of technology that allowed people to carve/collect/obtain them from the source much more easily - thereby expanding the money supply.

A 12-year-old kid's introduction to the concepts of inflation and debasement of a currency.

Reply to
(PeteCresswell)

You are just naive. Of course you pay, either in unpaid interest on your account balance or in hidden credit card fees in the price of things you buy. Banks are not charities, they are businesses and quite lucrative ones at that.

Reply to
gfretwell

Are the people where you live so stupid that they can't make change without the register doing it for them? I agree it slows down the line a bit but cash still works if the merchant is smart enough to count it.

Reply to
gfretwell

Gold is always going to be anonymous

Because 99% of this is about the tax man.

Reply to
gfretwell

Most have never been taught the correct way to count back change. They do not have a tax chart handy to know how much tax to charge.

With some stores not haveing anything marked as to price and is just scanned out by the barcode they do not know what to charge. The cash register will not open to get at the money.

Reply to
Ralph Mowery

The places I see, use a calculator and a cigar box.

That can be an issue but if it is a small store the owner can figure out how much things should cost. I have seen big grocery stores just play "lets make a deal" on whole carts full of groceries but that was because *both* servers were down (a rare thing). These people are not idiots. They have redundant systems and UPS units on the hardware. Big stores will have generators here in Florida.

Most actually will but they don't like the general public to know how. I worked on Point of Sale for about 15 years here in Florida.

Reply to
gfretwell

Maybe people just have no imagination. When I was working in the point of sale business the register was down or I would not be there. I have seen plenty of people who managed to sell things without having their electronic registers working. In fact it was ONLY the credit card transaction that were not working. Cash worked every time.

Reply to
gfretwell

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