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Is it time to get rid of cash?

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Is it time to get rid of cash?

Postby daaswampman » Sat Jul 15, 2017 5:23 pm

Should restaurants stop accepting cash? Efforts underway to make restaurants cashless

[snip]

Is it time to get rid of cash? Credit card company Visa believes now is the time, and it is spearheading efforts to help 50 restaurants go completely cashless.

Visa will give up to 50 food-service companies $10,000 to make the transition into using digital currency exclusively. These restaurants, cafes and food trucks will accept all sorts of digital currency, but not paper currency.

“At Visa, we believe you can be everywhere you want to be, and that it should be easy to pay and be paid in more ways than ever – whether it’s a phone, card, wearable or other device,” said Jack Forestell, head of global merchant solutions, Visa Inc. “With 70% of the world, or more than 5 billion people, connected via mobile device by 2020, we have an incredible opportunity to educate merchants and consumers alike on the effectiveness of going cashless.”

Visa claims that there is an economic benefit by converting to an all-digital currency. According to a Visa study, if businesses in 100 cities transitioned from cash to digital, their cities stand to experience net benefits of $312 billion per year.

“To Visa, a cashless culture means convenience, security and ease of use. That translates to freedom for consumers and merchants alike,” said Forestell.

http://www.wxyz.com/news/national/shoul ... s-cashless

It is a small step, but small steps add up! Please God - send us a CME and make it a big one! Swamp
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Re: Is it time to get rid of cash?

Postby Blondie » Sat Jul 15, 2017 6:03 pm

Swamp, if you're getting rid of your cash, I can be down to help. :p

Oh there's an economic benefit to using your Visa. The benefit is only to Visa. They get a transaction swipe fee for every debit & cc that's used. Those who depend on tips are forced to report tips earned when you add it to your card total. If you tip in cash, well, not so much.

We were at Applebee's recently and they have the card reader at the table. The wait staff no longer returns with the bill. Unless you ask.

ZH has an article on this subject new today with Ron Paul. Your Uncle Sam is broke and wants to tax anything he can. The banksters may need another handout soon.
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Re: Is it time to get rid of cash?

Postby oldasrocks » Sat Jul 15, 2017 6:11 pm

I use cash only. After getting a card # stolen a few yrs ago I strictly pay everything by cash that I can. Only exception is the electric company that sends me a bill. I do not have a debit card nor carry a credit card.

I guess I do have a prepaid card with a balance kept low for Amazon orders.
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Re: Is it time to get rid of cash?

Postby Stahlrosen » Sat Jul 15, 2017 7:10 pm

Swamp, I'll gladly help Blondie help you get rid of your cash :rofl:

I try not to use a card at these places either, and would rather tip in cash too. My son and I went out to lunch last month and they had a card reader at the table. We waited forever for the bill, not even knowing what that thing on the table was :blush:

I do have a bank card because I rarely leave the house and order so much online.
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Re: Is it time to get rid of cash?

Postby daaswampman » Sat Jul 15, 2017 8:19 pm

I think the entire western world is dead broke and a credit float is the only thing keeping our illusion of prosperity alive! It literally allows multiple people to claim the same imaginary credit at the same time and every agent to gleam their small cut. Something that is not possible with real money or even fiat cash!

I used to keep a lot of cash, but now I dump it for real wealth at the first opportunity. Sometimes I feel like the bum holding the sigh the end is near, is actually a prophet. Swamp
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Re: Is it time to get rid of cash?

Postby NJMike » Sat Jul 15, 2017 8:36 pm

Cashless will happen eventually on the current trajectory of BIG business and government alignment. The government wants to get rid of cash too. Then everything is track-able, traceable, taxable, and controllable. This benefits banks, business and government. Then someone will come around and grab up everyone's PMs, or find a means to devalue them. People will be taxed on self-sufficiency (more licensing requirements and inspections on animals, limitations on exchanging goods, high fees to have non-robot cars, etc). "Progress" might be slowed given the election upset, but it's moving along nonetheless.
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Re: Is it time to get rid of cash?

Postby IceFire » Sat Jul 15, 2017 8:43 pm

I read that article. If the businesses go "cashless", then the credit card company can collect more "processing" fees than they are currently. Plus, then ALL purchases can be tracked, controlled, etc. The ONLY ones who "win" in that situation are the banksters and the .gov.
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Re: Is it time to get rid of cash?

Postby anita » Sat Jul 15, 2017 9:01 pm

daaswampman wrote:
[snip]


“At Visa, we believe you can be everywhere you want to be, and that it should be easy to pay and be paid in more ways than ever – whether it’s a phone, card, wearable or other device,” said Jack Forestell, head of global merchant solutions, Visa Inc. --snip--


How ironic that Visa believes we should be able to pay and be paid in more ways than ever, but is trying to eliminate cash. Doesn't that mean they are trying to reduce payment methods?
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Re: Is it time to get rid of cash?

Postby oldasrocks » Sat Jul 15, 2017 10:12 pm

I think I'll pay for my funeral with a credit card and let them try to collect.
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Re: Is it time to get rid of cash?

Postby Fullmoon » Sat Jul 15, 2017 10:33 pm

By eliminating hand to hand cash transactions the government places itself in the position of the middle man, to monitor and tax all transactions. Isn't that a sweetheart deal? What really slays me is how many people are in favor of going cashless. Visa has made it the hip chic trendy new way of conducting binith with all sorts of hand held electronic devices placed conveniently for you to use. The govt is intent on squeezing every penny they can get out of the population via techno taxation. The country of Uruguay attempted to eliminate cash a few years ago but the citizens rioted and burned down several large banks in Montevideo. Maybe they are smarter than Americans.
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Re: Is it time to get rid of cash?

Postby Permafrost » Sun Jul 16, 2017 2:18 am

Maybe my info is outdated but I thought that cash was the only currency that a business legally had to take. I know that Alaska Airlines did away with cash on the airplanes (meals & drinks) but the only way they got around it was that you could use cash to prepay at the ticket counter for your drinks & such. There was a lawsuit about it, or one started at least, when someone from the village with no CC tried to get a sandwich on the plane and screamed economic discrimination when they wouldn't take their cash. Not a whole lot of use for a CC in the villages or bush because nobody has the ability to take them even if they want to.

I laugh every time I see this because I wonder why businesses are putting up with it, a service provider takes 3% to 5% of the total bill depending on your plan, plus the $35 monthly fee just for having the "privilege" of taking a CC. This cost is then passed on to customers. This is why businesses give a cash discount, I pay $0.10 less per gallon for fuel if I pay cash. Add to this the problem some businesses have with even getting a service, because they have no land line or internet service, and it boggles the mind that any business would support cashless.
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Re: Is it time to get rid of cash?

Postby angie_nrs » Sun Jul 16, 2017 2:40 pm

daaswampman wrote:Should restaurants stop accepting cash? Efforts underway to make restaurants cashless

[snip]

Is it time to get rid of cash? Credit card company Visa believes now is the time, and it is spearheading efforts to help 50 restaurants go completely cashless.

Visa will give up to 50 food-service companies $10,000 to make the transition into using digital currency exclusively. These restaurants, cafes and food trucks will accept all sorts of digital currency, but not paper currency.

“At Visa, we believe you can be everywhere you want to be, and that it should be easy to pay and be paid in more ways than ever – whether it’s a phone, card, wearable or other device,” said Jack Forestell, head of global merchant solutions, Visa Inc. “With 70% of the world, or more than 5 billion people, connected via mobile device by 2020, we have an incredible opportunity to educate merchants and consumers alike on the effectiveness of going cashless.”

Visa claims that there is an economic benefit by converting to an all-digital currency. According to a Visa study, if businesses in 100 cities transitioned from cash to digital, their cities stand to experience net benefits of $312 billion per year.

“To Visa, a cashless culture means convenience, security and ease of use. That translates to freedom for consumers and merchants alike,” said Forestell.


So Visa is giving $10,000 away to restaurants to only accept VIsa? If it was so great, then why would they have to PAY them? Also, isn't it illegal not to accept cash? It makes no (above board) financial sense for any business not to accept cash since there are no fees associated with it and you don't have to worry about it bouncing......unless the owners are worried about employee theft. If that's the case, the owners have bigger issues to deal with than credit card fees.

So, 70% of the population will be on a mobile device by 2020.....what about the 30% who are not. Yes, that would be me. I don't do online banking, nor do I have a smart phone or have any plans to get one. I get by just fine without it, thank you very much Visa. Visa's "study" says the cities stand to benefit $312 billion per year? just who exactly would see that benefit? Hmmmm - Visa perhaps?? And, how do they come up with that number?

Going cashless translates to freedom? Freedom of VISA to do whatever they want! Freedom is choice.......eliminating choice is NOT freedom! Going thru a 3rd party to purchase anything is NOT freedom! Their thin arguments of going cashless are 100% self serving. NONE of it makes any sense to anyone who is paying attention.

I just don't see it happening. I hope our society is not that stupid. Judging by the last election, it doesn't look to me like America is ready to just lay down and take it. I think Trump was elected as a way to send a big middle finger to the elites.....like Visa who think they know how best to run our society. I also think that those who are "in charge" of things don't want a cashless society. The puppet strings won't be as easy to pull without cash. Also, the drug trade would be severely impacted and I highly doubt those folks would take this without a fight. Actually that would be the only upside I could see to going cashless. Still, that ONE benefit is not worth the cost of freedom to do away with cash. Folks like me would just move to a barter state again if everything was electronic. Just another reason to stock up on PM's and other hard assets.

I think the best way to fight this is to pay cash for as much as you possibly can, and use your Visa as little as possible. The only way to take the wind out of Visa's sails is to snub them. Even if you only use your card so you can get points (and don't pay interest), the vendor still has to pay on their end so Visa makes money every time you use their card. For me, those small perks are not worth giving these companies more power.
Poke them in the eye! Quit using their card if you can use cash instead.
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