cashless society

[39TDS]

Canadian government froze the bank accounts of the truckers when they were protesting.

That alone tells me all I need to know.

[Keith 66]

What happens if there is a power cut? A mate of mine has just retired after a long career in the cegb later national power, He was telling us a few years ago that if you took out just a couple of key substations most of London would be out of power for weeks, Spare transformers? they scrapped them all years ago.

Or a big solar flare or Carrington event, didnt bother our victorian ancestors but it would proper ruin our satelites & servers.

Cash is an essential backup for society.

[discobob]

After the 2008 crash - Cyprus grabbed all the money above a certain amount out of the bank accounts of the people. People ended up homeless as they were in the process of selling and buying a property and ended up with a large amount of cash in their account - and there it was - gone!!!

[old man]

A politicos wet dream leading to total control of society?

[Penelope]

1 hour ago, discobob said:

An interesting link for you

https://www.gov.uk/government/consultations/the-digital-pound-a-new-form-of-money-for-households-and-businesses

The things that can be done by a digital currency can be scary - How would you feel if the money in your digital wallet had a life span on it - say a week, a month? what if the government wanted more money - fine - lets take everything over x pounds. What if a government\council etc. deem you to be not socially acceptable - and they block access to your digital wallet without informing you. This happens nowadays with bank accounts (has happened with a friend) without a by your leave....

This will also be tied directly to a social passport/carbon credit based system

Remember - it is people that make guns dangerous - and it is the government that will make computers dangerous 

Very dystopian but has a lot of relevant points 

 

Happened to lots of Canadian truckers and their supporters, too. Scary.

[Acerforestry]

12 hours ago, button said:

Some may be believe that's the case about notes carrying disease however it can be alot simpler than that, banking! There you go, most banks are iro 70p/£100 as well as the time of someone to go pay in and possibly fuel, that is assuming they are with a bank that has a branch network or arrangements in place to pay in elsewhere,  less cash on premises improves insurable risk and staff safety to name a few

While conspiracy theories are easy to assume sometimes the truth is alot simpler and logical

A lot of so called conspiracy theories are turning out to be fact. There is always going to be a divide as far as beliefs go, but I guarantee you the world around you will be a very different place financially and in most respects within just a few years, and not for the better

[Acerforestry]

5 hours ago, discobob said:

After the 2008 crash - Cyprus grabbed all the money above a certain amount out of the bank accounts of the people. People ended up homeless as they were in the process of selling and buying a property and ended up with a large amount of cash in their account - and there it was - gone!!!

Known in the financial world as a "bail in" - you assume you are putting your cash in a bank for safe keeping? Think again, if the bank hits the skids your funds can be quite legally, appropriated to assist the bank. Try going into your branch tomorrow and asking for say, 5K. If you're fortunate enough to have 50k in there, that isn't a lot; but they will give you the third degree about why you need it, and why they can't just hand it out. The whole banking system is one of the biggest cons ever

Edited April 4, 2023 by Acerforestry

[button]

8 minutes ago, Acerforestry said:

A lot of so called conspiracy theories are turning out to be fact. There is always going to be a divide as far as beliefs go, but I guarantee you the world around you will be a very different place financially and in most respects within just a few years, and not for the better

Different place financially how?

[ordnance]

33 minutes ago, Acerforestry said:

A lot of so called conspiracy theories are turning out to be fact. There is always going to be a divide as far as beliefs go, but I guarantee you the world around you will be a very different place financially and in most respects within just a few years, and not for the better

What conspiracy theory's are turning out to be facts 🤔

[Acerforestry]

Well for a start cash is going to go as is the gist of the thread, that's a foregone conclusion and its only a matter of time. That will have a knock on negative effect - whatever anyone's views on cash transcations there are an awful lot of them on a daily basis and that to a degree helps keep an economy buoyant. Add that to the current unhealthy mix of rising fuel costs, energy bills and just about everything you need to pay for rising constantly, and you are heading for more than major recession, more a depression. Most first world economies have run just fine over the past few decades with cash, and now apparently its bad news, along with carbon dioxide, wood stoves, fossil fuels and anything  else the government doesn't want us to have. I have become healthily sceptical about anything I am told by the mainstream media as I have got older, its about their agenda and not your wellbeing or mine

[Wymondley]

10 hours ago, McSpredder said:

No more “honesty box” stalls selling eggs and veg at the roadside.

Which is why I said "say any transaction over £20 must be cashless"

Keeps the cash about for low spend like that, or a cuppa, quick pint, bag of chips, kids spending money.

Any business regularly banking large sums taken as multiple small amounts, like car washes, should have a mobile card reader.

 

 

 

 

[39TDS]

19 minutes ago, Wymondley said:

Any business regularly banking large sums taken as multiple small amounts, like car washes, should have a mobile card reader.

Why?

[oowee]

29 minutes ago, Acerforestry said:

Well for a start cash is going to go as is the gist of the thread, that's a foregone conclusion and its only a matter of time. That will have a knock on negative effect - whatever anyone's views on cash transcations there are an awful lot of them on a daily basis and that to a degree helps keep an economy buoyant. 

They breed fraud, tax dodging, money laundering. It's the economic buoyancy we can do without.

7 minutes ago, 39TDS said:

Why?

Because it's at risk of operating fraudulently. We should make card machine and receipt mandatory (Greece is an example).

[Stonepark]

2 minutes ago, oowee said:

They breed fraud, tax dodging, money laundering. It's the economic buoyancy we can do without.

Because it's at risk of operating fraudulently. We should make card machine and receipt mandatory (Greece is an example).

Government created fiat fraud, taxes and money laundering..... in a free society individuals are free to choose how they transact.... a cashless society is simply about control.

 

[Vince Green]

32 minutes ago, Wymondley said:

Which is why I said "say any transaction over £20 must be cashless"

Keeps the cash about for low spend like that, or a cuppa, quick pint, bag of chips, kids spending money.

Any business regularly banking large sums taken as multiple small amounts, like car washes, should have a mobile card reader.

 

 

 

 

A lot of cash taken by car washes gets smugged abroad back to the workers home countries.

One of the ways they do this is to load the cash onto pre paid Post Office money cards and then send the card home and email the pin number later.

Or they use Western Union or MoneyGram.

All this money is 'lost' money as far as this country is concerned 

It's another small argument against cash 

[39TDS]

18 minutes ago, oowee said:

Because it's at risk of operating fraudulently. We should make card machine and receipt mandatory (Greece is an example).

I have lots of customers that pay cash, it isn't fraudulent, they get a VAT invoice and it is all declared. I don't want a card machine and even if I did it wouldn't work because they rely on a good phone signal and internet connection which I rarely have.

There is nothing wrong with cash and I am fed up with all these new rules, ban this ban that, don't allow people to do stuff they have been legitimately doing for ever. If there is a problem enforce the existing rules not just create a load more.

Here's a good example (or a bad one) whenever there is a firearms incident a load of new rules come in when if the existing ones had been abided by properly the incident wouldn't have occurred in the first place. New rules don't end criminality they just give something else to be quickly circumvented and the only effect is to the innocent ones

[oowee]

2 minutes ago, Stonepark said:

Government created fiat fraud, taxes and money laundering..... in a free society individuals are free to choose how they transact.... a cashless society is simply about control.

 

 

2 minutes ago, 39TDS said:

I have lots of customers that pay cash, it isn't fraudulent, they get a VAT invoice and it is all declared. I don't want a card machine and even if I did it wouldn't work because they rely on a good phone signal and internet connection which I rarely have.

There is nothing wrong with cash and I am fed up with all these new rules, ban this ban that, don't allow people to do stuff they have been legitimately doing for ever. If there is a problem enforce the existing rules not just create a load more.

Here's a good example (or a bad one) whenever there is a firearms incident a load of new rules come in when if the existing ones had been abided by properly the incident wouldn't have occurred in the first place. New rules don't end criminality they just give something else to be quickly circumvented and the only effect is to the innocent ones

I take your point entirely but whilst you are fully legit many businesses are not. 

[Scully]

19 minutes ago, oowee said:

 

I take your point entirely but whilst you are fully legit many businesses are not. 

Then penalise those that aren’t. Just an idea. 

[Gordon R]

Went into an off road motorcycle shop this morning. He said he was dumping his card machine, as were a few shops near him. He said he had sold a few items at £100 approx and the card company took 10%. When some items were returned he had to refund a full £100. He did not get his 10% back.

[McSpredder]

1 hour ago, oowee said:

Because it's at risk of operating fraudulently. We should make card machine and receipt mandatory (Greece is an example).

Card payment makes it harder for a trader to defraud the taxman, but each transaction increases the risk that criminals will acquire information about my bank details and defraud me.   

[Acerforestry]

9 hours ago, Stonepark said:

Government created fiat fraud, taxes and money laundering..... in a free society individuals are free to choose how they transact.... a cashless society is simply about control.

 

Exactly, people are only going to realise thise is the case when the new system is in place

[RyanMc]

On 03/04/2023 at 17:07, Walker570 said:

As above.  Cash notes are legal tender and should be acceptable if they want to do business.  Letter to your newspaper. Unfortunately we have bred a whole army of lemings over the last 30yrs who will 'behave'.... look at the response to covid.

Me not included in that... Local cinema, Omniplex chain here in Ireland, no tills at the counter, a screen at the side where you go pay by card and order like a ****ing robot! I kicked up a stink! 

Unfortunately it is not illegal to refuse cash, one would hope its financial suicide for businesses. If enough people kicked up a stink policy would soon change. But as mentioned the lemmings have ruined it for everyone, I do use card for some items, but I like the flexibility of cash. I don't think people realise how much the small cash businesses and transactions prop up economic activity in general, IMO anyway.

[Vince Green]

People on here seem to think that it's the Government that's driving this but its not. It's the banking system.

[Wilts#Dave]

10 hours ago, Scully said:

Then penalise those that aren’t. Just an idea. 

That would involve some effort, but I agree wouldn’t be hard…..it would be very easy to know where to start looking! 
Personally dislike the thought of the cashless society, most of the reasons have been covered in this thread. 
Defrauding of a little bit of tax in most cases, but paying plenty….yet there are those who pay zero tax, contribute nothing and just hold their hands out (but that’s a whole different debate). 
It’s so much easier to spend and not budget for small items when it’s just a matter of tapping your phone on a screen at the till. 

[discobob]

13 minutes ago, Vince Green said:

People on here seem to think that it's the Government that's driving this but its not. It's the banking system.

No it isn't - it is the Government - supported by the banks - yep - as they get a nice new revenue (well improved anyway)revenue stream - almost like a tax.

Take a look at Nicaragua who have a Central Bank Digital Currency - it isn't going well over there...... And we will be different how???? Perhaps we will make completely new mistakes!!!