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Type: Posts; User: Scottl

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    265659 ............................

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    Wait long enough and you'll understand the...

    Wait long enough and you'll understand the connection. Central banks hate cash because it thwarts their ability to control an economy through "monetary policy". The examples of negative interest...
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    Many have predicted that the push for a cashless...

    Many have predicted that the push for a cashless society would eventually lead to negative interest rates, which means banks actually charge customers for deposits.

    It has already been going on...
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    An interesting development related to the...

    An interesting development related to the cashless society is China's plan to build a nationwide "social credit" system that would rate every Chinese citizen on a variety of factors.

    China 'social...
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    And if you re-read my posts I was never talking...

    And if you re-read my posts I was never talking about EOTWAWKI scenarios or hyper-inflation (which is easy for governments using fiat money whether in cash or strictly electronic form). A cashless...
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    Ask the people in Puerto Rico what a cashless...

    Ask the people in Puerto Rico what a cashless society would be like!

    Many down there who were in the habit of using plastic got a rude shock after the hurricane when the supporting infrastructure...
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    My original question when starting this thread...

    My original question when starting this thread was not about $10,000 transactions but instead if people still do some smaller purchases with cash. The idea that everyone who uses some cash is part of...
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    A basic rule for managing online accounts is...

    A basic rule for managing online accounts is never respond to an email unless you are expecting it. One legit case would be if you asked to reset a lost password. Otherwise, read the email if you...
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    I'm just amazed at the number of people who use...

    I'm just amazed at the number of people who use the same screen name all over the web. I know of one guy who got in SERIOUS trouble after some real nasty exchanges on forums. They were able to easily...
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    I'm not worried about the wrong people. Most of...

    I'm not worried about the wrong people. Most of those government systems were implemented by private contractors. One of them that operated "red light cameras" for several states got in trouble when...
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    If they have stopped accepting cash and are using...

    If they have stopped accepting cash and are using plate scanners they are recording every trip you make through the tolls anyway. With highway cameras, plate scanners in toll booths and cruisers,...
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    Very little. Unless federal employees are...

    Very little. Unless federal employees are spending money as fast as it comes in they still can use money in personal accounts to pay for things (rent, groceries, etc.).

    This is not our first...
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    Interesting thing about those "reward cards" is...

    Interesting thing about those "reward cards" is they started appearing shortly after a researcher wanted the government to make everyone do their grocery shopping at one store for a week or so in...
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    If you don't want your EZ Pass read "accidently"...

    If you don't want your EZ Pass read "accidently" at other times just store it in one of those aluminized mylar zipper bags that a lot of dried fruit comes in. Pull it out and slide it into a bracket...
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    Big question is how well would it work if there...

    Big question is how well would it work if there were major infrastructure problems due to some disaster. Can it run without networks on locally powered terminals?
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    I'm not so sure. AFAIK any private entity can...

    I'm not so sure. AFAIK any private entity can refuse cash or any other payment method they don't like. They may lose some business but I think there are no legal prohibitions. Some government...
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    If you get an EZ Pass explore the option where...

    If you get an EZ Pass explore the option where you preload the account with a fixed amount ($20 minimum here) and manually add funds as needed. "Manually" might mean bank transfers must be approved...
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    OT: A Cashless Society?

    There is much talk of the benefits of a cashless society. Currently in the U.S. people use a mix of cash, debit cards, credit cards, and cell phone apps. I personally do not (yet) use the last...
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