|Former Member||07/04/2020 07:56:19|
[This posting has been removed]
4649 forum posts
You can already buy drugs online using Paypal. Just have to use the Dark Web. Entrepreneurship, ain't it wonderful.
I am another who would not have used cash for several years. We have "pay wave" on our credit and debit cards here (Oz) with no PIN number for purchases under $100 so it's quicker and easier than cash. And epidemiologically safer in this day and age too!
A while back, I rounded up all the jars and bags of loose change in various places around the house that had been waiting for years to be either used or taken to the bank. Took them all to the bank -- turned out to be over $300.
Edited By Hopper on 07/04/2020 08:05:24
|Brian G||07/04/2020 08:01:48|
|705 forum posts|
I suspect drug dealers wouldn't be too bothered, as cash is easier to find, trace and confiscate than bitcoin, and there seems to be no shortage of people willing to act as money mules, accepting and passing on bank transfers to obscure their origins.
|Neil Lickfold||07/04/2020 08:10:12|
|621 forum posts|
Out here during this corona virus lockdown, places are not taking cash. Supermarkets are refusing to accept cash for the groceries. Cards or go hungry.
462 forum posts
Years ago the only way you could lose money was either be mugged, or burgled. Now, with credit and debit cards, and internet banking there are a score of ways you can get robbed. Cash is still king for me and I was always taught that if you want something save until you have enough money to buy it. I remember my old day saying 'we are getting just like the yanks, living on tick'. I don't think even he would have ever imagined the situation we have now where it is perfectly normal to live your life in debt.
The invention of all the current alternatives to cash are mostly for the benefit of the banks, rather than just making it more convenient for us. The ultimate aim being the abolition of all bank branches and the attendant staff.
They say information is power and in a cashless world information about everything you buy or sell will be available to those who seek to control.
4649 forum posts
But then they neglect to disinfect the keypad between each customer punching in their PIN number when paying by card.
The only recourse is to cough loudly after paying and say even louder " I wish I never ate that bat soup when I was in Wuhan".
3734 forum posts
For every transaction you make the banks and payment providers take 1 to 5%
From a loaf of bread to a settee
That's for everyone who buys anything, anywhere, at any time
Works out at 1 to 5% on trillions of turnover
The other problem is that when the system goes down you can't even buy a loaf of bread
And you can pretty much 100% guarantee that every now and then, the system will go down
A mixed system of cash and cards is the most sensible system
Edited By Ady1 on 07/04/2020 08:52:46
|pgk pgk||07/04/2020 08:46:37|
|1845 forum posts|
Control of public movement, control of cash, option to demand everyone has an alerting tracker and police out monitoring people plus army mobilisation. Apart from the nuisiance virus governments must be loving it...the best of socialism....roll on new oligarchs.
|486 forum posts|
As Ady1 eluded, yes cash will disappear as there is big money to be made. We will get it weather we want it or not due to the power of advertising convincing the masses.
We will all end up paying for it, the 1% to 5% transaction fee comes ut of our pockets not the retailers.
|martin perman||07/04/2020 08:59:33|
1835 forum posts
As part of my part time job delivering medication I have to bank the Chemists previous weeks takings and seeing how much there is every week I can say that there is an increase in the use of cash and I also collect change from the bank and that has increased as well.
There was a young man in the bank spouting miss information about the use of cash and the staff were very quick to dispel to other customers that what was being said was not correct.
|Mike Poole||07/04/2020 09:00:04|
2615 forum posts
To avoid a visit to the post office you can pay for and print a post label online, it made my wife happy and no cash involved.
|Cornish Jack||07/04/2020 09:06:44|
|1137 forum posts|
pgk - I suspect that there are many more websites where such characterisation assessments would be appropriate , and welcomed. Apart from one or two notable exceptions, we seem to manage well without politics!
|1131 forum posts|
Problem with the cashless society is the Banks acceptance of errors in accountancy so there is an "allowable" loss. Perhaps Mr Scrooge had the right idea, underspend - ecstasy, overspend - AGONY.
Lets face it, the instant ( or nearly ) gratification of on line purchasing has killed "Having to save" for goods. Don't forget, "Saving" also gave "Is my purchase REALLY necessary?"
|vintage engineer||07/04/2020 10:20:26|
254 forum posts
I work in the vintage car world and we deal a lot in cash especially with French and German customers!
|Dave Halford||07/04/2020 10:34:00|
|801 forum posts|
Plenty of old people still going to b'ham city centre banks and withdrawing £20.
Every car park machine that I use only takes cash.
|5921 forum posts|
I'm reminded of the late George Best “I spent a lot of money on booze, birds, and fast cars. The rest I just squandered.”
Seriously though, despite being convenient for small personal transactions, cash has many disadvantages.
Try buying a new car in cash - asking will be an embarrassment for all concerned. Even worse, offer to buy a house in cash. Special arrangements will have to be made to move the money securely, and expect awkward questions about laundering, proceeds of crime, and tax evasion! Many purchases are impossible in cash - for example, online sales are all electronic.
Cash is completely unsuitable for buying anything really big like railways, motorways, airlines, shipping, armed forces, power stations, and the health service etc. Trade in goods, services and commodities is enormous - in 2019 Australia exported about $50Bn worth of coal and $75Bn Iron Ore. They weren't paid in cash!
Cash suits criminals because it's hard to trace. As they are the main users, the assumption now is a bag full of €500 notes is unlikely to be legitimate.
Managing cash in volume is a major risk due to crime, fire, flood and fraud. Payroll and bank robberies with violence were once commonplace. Even disposing of worn-out paper money is dangerous - Jack Mills never recovered from his injuries. Looking after cash costs a lot of money - safes, guards, armoured vans, bank vaults, alarm systems, cameras, spot checks etc.
So cash has been replaced gradually since about 1700 with 'instruments'. Once mainly high-finance, they're now common in ordinary life. Most of them today are electronic. Like cash, they are just promises to pay. Electronic money is a form of paper money - neither are actually valuable like Gold.
Electronic systems are safer than cash because they can be backed-up, traced, and are accountable. Cash kept under the bed is gone forever if its owner falls for a con-man. If the bank fall for a con-man, your money is safe. Electronic money transfers are much faster and far cheaper too.
Unfortunately, nothing is perfect. Banks are run by fallible humans. Greed often leads people to make foolish decisions and tempts them into crime. A common mistake is assuming a financial bubble like sub-prime mortgages must grow forever just because it paid a big bonus last year. Pop! A disadvantage of modern money methods is the system is much bigger and faster than before. When it crashes, it's likely to be on a large scale.
1374 forum posts
Once cash is squeezed to the point of being useless and everyone is required to exclusively use a middleman to transact with each other, then that is an effective end to personal freedoms.
Those middlemen will have the opportunity to decide if, when and how you spend 'your' money. Many will see this soon.
|Michael Gilligan||07/04/2020 13:44:41|
15869 forum posts
|duncan webster||07/04/2020 14:04:26|
2649 forum posts
That sounds pretty unlikely, who would carry the vinegar up to such an out of the way place, and as it rarely stops raining in the Pennines, surely it would be diluted to the point of useless in short order.
According to **LINK** the stone is actually the base for a twin shaft wayside cross
1374 forum posts
I know, but who'd have thunk you could print debt out of thin air?
Please login to post a reply.
Want the latest issue of Model Engineer or Model Engineers' Workshop? Use our magazine locator links to find your nearest stockist!
You can contact us by phone, mail or email about the magazines including becoming a contributor, submitting reader's letters or making queries about articles. You can also get in touch about this website, advertising or other general issues.
Click THIS LINK for full contact details.
For subscription issues please see THIS LINK.