America

Cash Is King and Doesn’t Crash, Electronics and Digitals Do

Forget about cash being dirty. Stop being so easily led. Cash has been around for a very, very, very long time and it gives you control over how you trade with the world. It gives you independence.

There’s a story going around where a man supposedly contracted Covid because of a $20 bill he had handled. There is the same chance of Covid being on a card as being on cash. If you cannot see how utterly ridiculous this assumption is, then there is little hope.

If there’s a power outage, how are you going to pay if you can’t swipe or insert your card?

A recent comprehensive study of 14,000 people by the Consumer Financial Protection Bureau found consumers spend less when paying by cash.

Bad for privacy

When you pay cash, there is no middleman; you pay, you receive goods or services — end of story. When a middleman becomes part of the transaction, that middleman often gets to learn about the transaction — and under our weak privacy laws, has a lot of leeway to use that information as it sees fit. 

A cashless society means no cash. Zero. It doesn’t mean mostly cashless and you can still use a ‘bit of cash here & there’. Cashless means fully digital, fully traceable, fully controlled.

If you support a cashless society you aren’t fully aware of what you are asking for. The harms that can come from limiting everything to electronic systems can effect privacy invasion abuses, profiling, financial loses, etc.

 The Federal Reserve stated that debit cards are the most frequently used means of making all purchases. Cash is employed in 26% of all transactions and 49% of those under $10. But now every age group up to the baby boomers have now shifted to digital means and plastic for making transactions than using cash and Not surprisingly, millennials lead the pack.

Despite these trends, a few states and cities have passed laws requiring businesses to accept cash, and here’s why: Some elderly people still don’t do technology. They don’t even have a cellphone, much less a PayPal account for transferring money.

Many poor people don’t have credit cards or even bank accounts. Some 6.5% of American households are “unbanked,” according to the Federal Deposit Insurance Corporation. Cashless establishments discriminate against this group.

In the Consumer Protection study mentioned above, they analyzed those who had a revolving balance on their credit cards. They wanted to see if financial “rules of thumb” could actually help these consumers lower their revolving credit card debt.

They tested two rules: one was paying cash for purchases under $20, and the second was reminding customers that paying with a card can add 20% to a purchase when you revolve that credit card balance.

They sent out these reminders via email and banner ads and even sent customers magnets that included one of two reminders:

  • “Don’t swipe the small stuff. Use cash when it’s under $20.”
  • “Credit keeps charging. It adds approximately 20 percent to the total.”

The study found that when consumers were reminded to pay with cash, they had less revolving debt six months later. Researchers concluded:

Consumers who received the first rule of thumb had, on average, $104 less in revolving debt six months later; their balances were 2 percent lower than their baseline average.

A cashless society means:

  • If you are struggling with your mortgage on a particular month, you can’t do an odd job to get you through.
  • Your child can’t go & help the local farmer to earn a bit of summer cash.
  • No more cash slipped into the hands of a child as a good luck charm or from their grandparent when going on holidays.
  • No more money in birthday cards.
  • No more piggy banks for your child to collect pocket money & to learn about the value of earning.
  • No more cash for a rainy day fund or for that something special you have been putting $20 a week away for.
  • No more charity collections.
  • No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.
  • No more cash gifts from relatives or loved ones.

What a cashless society does guarantee:

  • Banks have full control of every single penny you own.
  • Every transaction you make is recorded.
  • All your movements & actions are traceable.
  • Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 2 weeks, a thousand questions answered & many passwords.
  • You will have no choice but to declare & be taxed on every dollar in your possession.
  • If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.

If you are a customer, pay with cash. If you are a shop owner, remove those ridiculous signs that ask people to pay by card. Cash is a legal tender, it is our right to pay with cash. Banks are making it increasingly difficult to lodge cash & that has nothing to do with a virus, nor has this ‘dirty money’ trend.

Cash is King.

Please open your eyes. Please stop believing everything you are being told. Almost every single topic in today’s world is tainted with corruption & hidden agendas.

Please stop telling others that we are what’s wrong with the world when you hail the most corrupt members of society as your heroes.

Politics and greed is what is wrong with the world; not those who are trying to alert you to the reality in which you are blindly floating along whilst being immobilized by irrational fear.

Fear created to keep you doing and believing in exactly what you are complacently doing.

Pay with cash and say no to a totally cashless society while you still have the choice.

Parts of this article has been attributed to Dave Ramsey, James Woods and others on the web. No matter who first wrote it, the information is important to your future and your freedom.

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