Comments on: “Should Governments Restrict Cash?”

By: Curmudgeonly Ex-Clerk

Curmudgeonly Ex-Clerk — Thu, 06 Dec 2018 02:41:04 +0000

Yeah, anyone who thinks the government has as much control over us with cash as it would without currency hasn’t spent much time thinking about how you’ll be “nudged” by the government (e.g., negative interest rates). And that’s assuming a relatively beneficent government (which is a naive assumption).

By: Timothy E. Harris

Timothy E. Harris — Wed, 05 Dec 2018 23:05:47 +0000

In reply to MattS. There's often a small (10 to 35 cents) per transaction fee added to the percentage - which is why many retailers have a $5 minimum transaction to use your card.

By: No Name Guy

No Name Guy — Wed, 05 Dec 2018 17:43:15 +0000

I for one look forward to a cashless society.

Why, what could be better?

Just think how easy civil asset forfeiture would be if some out of state yahoo is driving through my town – I could just debit their account as they couldn’t show a “legitimate source” of those funds to me.

Just think how our betters could “nudge” us more effectively in a cashless society. Just up thread in the “healthy food” ordinance….why, that wouldn’t be necessary as the Government could monitor every penny of your expenditure and tax…er, I mean charge a healthy food “fee” to be used only on Government approved healthy foods. Spend it on the oranges or pay the tax, er, I mean fee to the Government.

And just think how docile and controllable everyone could be made. Anyone remember Demolition Man and the swearing machine? Yeah….that would go for ANYTHING….instant fine, baby!

Want to find out who has what nasty disease? Well no need to hack their medical records….just find out from those perfect electronic payment records what they’re spending money on. Why, what EVER could go wrong with that?

/snark off/

By: Canvasback

Canvasback — Wed, 05 Dec 2018 16:31:46 +0000

Of course the goal is for us to render unto Caesar and just shut up about it. But Caesar never had it so good. Visa, Mastercard, Citibank, B of A, J.P. Morgan Chase, Wells Fargo, et al, all private actors, are against us as well.
And every one of them engages in criminal activity regularly. Visa/Mastercard just settled for $6.2 billion in a merchant swipe fee case. Wells Fargo paid $142 million for opening unauthorized accounts. Check the rest and you’ll see the same story.
It may take an exceptionally pliable mind to succed in the personal injury trade, and Ronald V. Miller, Jr. admits smarter people than him have thought about this issue.
Here’s one. Former broker, now journalist, Brett Scott has a good article in the Guardian about the cashless
movement.

https://www.google.com/amp/s/amp.theguardian.com/commentisfree/2018/jul/19/cashless-society-con-big-finance-banks-closing-atms

By: Ronald V. Miller, Jr.

Ronald V. Miller, Jr. — Wed, 05 Dec 2018 13:38:20 +0000

In reply to cc. In fairness, the government does not trust us because there are many people who are paid under the table in whole or in part in this country. I think their lack of trust is rooted in experience.

By: Ronald V. Miller, Jr.

Ronald V. Miller, Jr. — Wed, 05 Dec 2018 13:36:48 +0000

In reply to Noncenx. I can feel how strongly you feel about it Many people smarter than I have strongly held views about these things. Personally, I couldn't care less if the government knows about every single purchase I make. I'd be glad to let them hear my phone conversations too. (I don't think that should be a law but I would sign up for a "we want to listen in on your calls to make the country safer" list.

By: MattS

MattS — Tue, 04 Dec 2018 23:26:31 +0000

In reply to Igor.

The government has just as much control over the money supply in a cash only economy.

There are only three ways to avoid a government controlled money supply.

1. Cryptocurrencies.

2. Deal only in precious metals by weight (not coinage).

3. Deal only in barter, trading goods/services directly for other goods/services.

By: MattS

MattS — Tue, 04 Dec 2018 23:22:46 +0000

In reply to cc.

“If I want to buy a stick of gum, the overhead for the merchant for a check-card is absurd for such a small purchase.”

The fee to the merchant for a debit or credit transaction is a percentage of the transaction, usually 5% for credit (not sure the debit fee). So the relative overhead is exactly the same no matter how large or small the transaction.

By: Noncenx

Noncenx — Tue, 04 Dec 2018 23:13:24 +0000

It’s all about control, the gov wants more and more control of what we do.

Some is about taxes but every year the fed gov gets more tax revenue than the year before, We’ll never be able to satisfy that beast.

I know it sounds tin-foil hat crazy but they don’t need to know what I buy. It’s all about control.

By: Igor

Igor — Tue, 04 Dec 2018 21:42:50 +0000

I flat don’t trust the government. Handing total control of banking and money is suicide for freedom – I can put up with the money laundering, etc. if it means the government doesn’t control the way we pay for things.

Paranoid? Oh, yeah…

“I love my Country, I Fear my Government”