The fuck are you talking about? SHut up.
Cashless society?
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The fuck are you talking about? SHut up.
Honestly I hate carrying cash and only use cards and bank transfers for financial transactions. While I understand the argument of having a digital only net worth completely controlled by TPTB I would also argue one can still buy tangible assets like gold, real estate, etc.
The fact of the matter is if the government seized your assets now, as is the argument of a cashless society, how many people actually have enough cash hidden under their mattress for the long haul anyways, and what would be the difference in just owning another tangible asset aside from cash such as gold?
It's a joke!!
The problem with the hard assets is their liquidity. Real estate and gold are all great in holding values but you still have to sell them off to exchange for cash especially if you need to do them in a hurry and you might not get its full value depending on the situation. And their large size is also a problem. Gold you might be able to sell them in ounces but what about real estate? You can piece off the property just sell one square feet of a time for cash when you just need enough cash for a couple of coffee, let's say. If you sell off the property then you still face the storage issue.
I think the happy medium is credit cards for now and in the future cryptocurrency where you at least get to still have financial autonomy to decide how you want to spend some money while still have the convenience of not needing to carry cash around. My biggest concern is really financial autonomy more than privacy. Unless you use cash, you are never going to have privacy regardless which methods of payment you use. Even when you use cash, they can still track you to see which ATM machines you withdrew your money and etc.
I'm still under the mindset the federal government will eventually do to unregulated digital currency, even Bitcoin, what they did to online poker on Black Friday a decade ago. They will seize or interrupt all domains Americans have access to and basically shut down access claiming it unregulated and using terrorist using it to exchange funds.
Sure there will be ways around it, but average people will avoid doing that just like they did back then. This will set a huge drop in price for whoever is in that market. Banks will then create a federally regulated digital currency utilizing the blockchain for universal adoption killing the unregulated digital currency markets. With price fluctuations in the unregulated markets how many people will want to utilize them as a form of currency like gold or real estate.
That's just a theory though, but with the power the banking cartel wields it is feasible.
sorry
I agree. The most likely scenario is the government will eventually allow just one cryptocurrency that they issue so that they can at 1) track and 2) control for their monetary policy to at least have any effect. They are already doing that with bitcoin. Every single cryto exchange you register you have to disclose your identity and proof of it. Eventually once they pass a law that makes everybody to use nothing but crypto then they will be able to control it totally just like what China is doing with the digital wallet on the phone. And then it's a matter of how much they can make the whole world to use their particular cryptocurrency for them to have dominance over the world.
All Chinese people see from using the digital wallet is convenience but what the Chinese government sees is dominance.
Exactly. Neither the banking cartel nor the government will ever allow a currency they have no control over to rule the market. Anyone who thinks they cant crush the unregulated market is naive. Especially when they throw in the excuse "terrorist are using it to fund international terrorism." If they can use that excuse to shut down the unregulated online poker market, which was a laughable excuse saying terrorists were losing poker hands purposely to funnel money to other terrorists, how much more for an actual digital currency and currency transfer.
%%
LOL Do you live in commie China, that should be disclosed, even if you dont have to.
However i do think they did right outlawing the bitcon. But i dont keep up with them that much.
US outlawed gold + silver for while, certain exceptions did apply even in the 1930s.......................................................................................