Finances (13)
rohaanCoos Bay, Oregon USA229 Threads 10,498 PostsCash is here to stay. Let's talk about it---(many people are predicting that a "cashless society" is unavoidable. I say it isn't going to happen).
------ This thread is Archived ------
I hope cash is here to stay, although I mostly use card for convenience.
A cashless society, or even a cardless society where everything is arranged by mobile phone, will disadvantage the most vulnerable in society. There's not much point in being able to spare a digit for the homeless, or use public transport if they won't accept cash, card, or disability/pensioner pass.
Digital finance already obscures how poorly paid and under-valued most people are in our societies.
A cashless society, or even a cardless society where everything is arranged by mobile phone, will disadvantage the most vulnerable in society. There's not much point in being able to spare a digit for the homeless, or use public transport if they won't accept cash, card, or disability/pensioner pass.
Digital finance already obscures how poorly paid and under-valued most people are in our societies.
------ This thread is Archived ------
rohaan: Cash is here to stay. Let's talk about it---(many people are predicting that a "cashless society" is unavoidable. I say it isn't going to happen).
I hope you're right. Even in my country they're pushing for all digital. 
------ This thread is Archived ------
jac_the_gripper: I hope cash is here to stay, although I mostly use card for convenience.
A cashless society, or even a cardless society where everything is arranged by mobile phone, will disadvantage the most vulnerable in society. There's not much point in being able to spare a digit for the homeless, or use public transport if they won't accept cash, card, or disability/pensioner pass.
Digital finance already obscures how poorly paid and under-valued most people are in our societies.
The major cases here (America) are that way too many people use cash, and want to use cash. Just too many of us that would soundly refuse. Also, literally hundreds of times in the past 20 years, including very recent, natural disasters have required the solitary use OF cash only, as banks were closed, ATM's were non-functioning, credit card appliances fritzed out, etc.... so that was a good argument in favor of cash, as well. Several states in The United States have actually mandated that a business cannot REFUSE cash, as many are attempting to. In Portland, a couple of years ago, a filling station refused to accept cash after fueling up a man's car. He did not carry debit or credit cards, so cash was his only option. Well, they called the police, who arrived promptly. After discussing the problem with both vendor and customer, the police told the vendor "No crime has been committed here. He willingly offered payment in a form recognized by our government. If you refuse to take the money, he can leave free and clear". They took the cash.A cashless society, or even a cardless society where everything is arranged by mobile phone, will disadvantage the most vulnerable in society. There's not much point in being able to spare a digit for the homeless, or use public transport if they won't accept cash, card, or disability/pensioner pass.
Digital finance already obscures how poorly paid and under-valued most people are in our societies.
------ This thread is Archived ------
MariaR33: I hope you're right. Even in my country they're pushing for all digital.
I can't answer for your country--but I do know that The United States is frequently a fiscal deciding factor, globally, and I am very, very sure that we will be actively using cash for a long, long, long time. Fact: Approximately 30 million people in The U.S. do NOT participate with electronics, and a whopping 12 million people do not use banks. It is still legal and must be accommodated, to receive one's pay in cash. K-Mart paid this way for years.------ This thread is Archived ------
rohaan: The major cases here (America) are that way too many people use cash, and want to use cash. Just too many of us that would soundly refuse. Also, literally hundreds of times in the past 20 years, including very recent, natural disasters have required the solitary use OF cash only, as banks were closed, ATM's were non-functioning, credit card appliances fritzed out, etc.... so that was a good argument in favor of cash, as well.
Doesn't that require people to have large quantities of cash under the mattress at all times just in case? Surely that's not a good combination with your gun laws?
Not that I'm against cash.
You have reminded me that I really ought to put my money where my mouth is and use cash as much as possible. The thing is, public transport struggles with change and I find myself using shops less and less. I'd like to support real shops, but so few sell environmentally responsible produce/products.
Do I use my small rectangle of plastic online, or buy stuff encased in enough plastic to make goodness knows how many cards?
rohaan: Several states in The United States have actually mandated that a business cannot REFUSE cash, as many are attempting to. In Portland, a couple of years ago, a filling station refused to accept cash after fueling up a man's car. He did not carry debit or credit cards, so cash was his only option. Well, they called the police, who arrived promptly. After discussing the problem with both vendor and customer, the police told the vendor "No crime has been committed here. He willingly offered payment in a form recognized by our government. If you refuse to take the money, he can leave free and clear". They took the cash.
That's hilarious. 
------ This thread is Archived ------
rohaan: I can't answer for your country--but I do know that The United States is frequently a fiscal deciding factor, globally, and I am very, very sure that we will be actively using cash for a long, long, long time. Fact: Approximately 30 million people in The U.S. do NOT participate with electronics, and a whopping 12 million people do not use banks. It is still legal and must be accommodated, to receive one's pay in cash. K-Mart paid this way for years.
I've just googled and it's legal for employers to pay employees in cash in the UK, but I can't find anything that says employees have the legal right to be paid in cash. I'd be really interested if anyone can enlighten me.
i
------ This thread is Archived ------
jac_the_gripper: I've just googled and it's legal for employers to pay employees in cash in the UK, but I can't find anything that says employees have the legal right to be paid in cash.
I'd be really interested if anyone can enlighten me.
"It is perfectly legal to request and receive compensation from your employer in cash"
I don't know about the UK, but this is United States of America law.
i
I'd be really interested if anyone can enlighten me.
"It is perfectly legal to request and receive compensation from your employer in cash"
I don't know about the UK, but this is United States of America law.
i
------ This thread is Archived ------
rohaan: The major cases here (America) are that way too many people use cash, and want to use cash. Just too many of us that would soundly refuse. Also, literally hundreds of times in the past 20 years, including very recent, natural disasters have required the solitary use OF cash only, as banks were closed, ATM's were non-functioning, credit card appliances fritzed out, etc.... so that was a good argument in favor of cash, as well. Several states in The United States have actually mandated that a business cannot REFUSE cash, as many are attempting to. In Portland, a couple of years ago, a filling station refused to accept cash after fueling up a man's car. He did not carry debit or credit cards, so cash was his only option. Well, they called the police, who arrived promptly. After discussing the problem with both vendor and customer, the police told the vendor "No crime has been committed here. He willingly offered payment in a form recognized by our government. If you refuse to take the money, he can leave free and clear". They took the cash.
Good post. Portland is different, in many ways behind the times it appears. Most if not all filling stations around here are pre-paid only.------ This thread is Archived ------
I gather no one has been paying attention to the slow decline in cash.
First banks started keeping a limited amount of cash, then the coin shortage then all the restrictions on sales involving ever shrinking amounts that require reporting.
I think the last was sales over $600.
Everything requires a credit or debit card.
I rarely see or carry cash.
oddly Lottery tickets can only be purchased with cash and on the res weed is cash based.
Banks don't pay you anything in interest, so why leave any money for them to loan out of your account?
Interest rates on CC's are through the roof.
Cash is being weeded out,
Here Come "Programmable Dollars": New York Fed And 12 Banking Giants Launch Digital Dollar Test
Members of the U.S. banking community today announced the launch of a proof of concept (PoC) project that will explore the feasibility of an interoperable digital money platform known as the regulated liability network (RLN). Using distributed ledger technology, the proposed platform would create innovation opportunities to improve financial settlements and would include participation from central banks, commercial banks of various sizes and regulated non-banks.
Basically, Fedcoin is advancing and is now in the testing stage:
The 12-week PoC will test a version of the RLN design that operates exclusively in U.S. dollars where commercial banks issue simulated digital money or “tokens” – representing the deposits of their own customers – and settle through simulated central bank reserves on a shared multi-entity distributed ledger.
First banks started keeping a limited amount of cash, then the coin shortage then all the restrictions on sales involving ever shrinking amounts that require reporting.
I think the last was sales over $600.
Everything requires a credit or debit card.
I rarely see or carry cash.
oddly Lottery tickets can only be purchased with cash and on the res weed is cash based.
Banks don't pay you anything in interest, so why leave any money for them to loan out of your account?
Interest rates on CC's are through the roof.
Cash is being weeded out,
Here Come "Programmable Dollars": New York Fed And 12 Banking Giants Launch Digital Dollar Test
Members of the U.S. banking community today announced the launch of a proof of concept (PoC) project that will explore the feasibility of an interoperable digital money platform known as the regulated liability network (RLN). Using distributed ledger technology, the proposed platform would create innovation opportunities to improve financial settlements and would include participation from central banks, commercial banks of various sizes and regulated non-banks.
Basically, Fedcoin is advancing and is now in the testing stage:
The 12-week PoC will test a version of the RLN design that operates exclusively in U.S. dollars where commercial banks issue simulated digital money or “tokens” – representing the deposits of their own customers – and settle through simulated central bank reserves on a shared multi-entity distributed ledger.
------ This thread is Archived ------
rohaan: Cash is here to stay. Let's talk about it---(many people are predicting that a "cashless society" is unavoidable. I say it isn't going to happen).
I am a plastic person and use my card most of the time. Before debit cards I always wrote checks. I don’t like to carry cash. 
------ This thread is Archived ------
jac_the_gripper: I've just googled and it's legal for employers to pay employees in cash in the UK, but I can't find anything that says employees have the legal right to be paid in cash.
I'd be really interested if anyone can enlighten me.
i
Many, many years ago, when I worked at a casino in Reno, Nevada, we were paid in cash, we received a little hand written slip of what they took out along with our cash. One time I stepped out back and opened my pay envelope and kept pulling out 100 dollar bills, way more than I, as a mere booth cashier made, one of the office personnel was standing there next to me, I said I had to go back in, this is totally wrong. She’s telling me to keep it over and over, the weirdo. I took it straight back in there, turns out our names on one whole ledger were on the wrong pay, it was a mess! I always wondered who made that money. It was quite a bit.I'd be really interested if anyone can enlighten me.
i
------ This thread is Archived ------
Govt and inland revenue like people to pay govt departments with online banking and leave a paper trail to trace, paper trail needed for money going into your bank accounts (proceeds of crime proof)
Cash is handy for some budget deals..
Cash is handy for some budget deals..
------ This thread is Archived ------
This Thread is Archived
This Thread is archived, so you will no longer be able to post to it. Threads get archived automatically when they are older than 3 months.
« Go back to All Threads
« Go back to All Threads
More Threads
Thoughts on Daylight Savings
Say Anything Again
Which Of These Is Your Favorite Breakfast
Trump Elementary
What happened to CS while i was away.. (Long time)
Are the ads on here as phony as some of the profiles?
makeover
biggest lie
beauty of the heart
The Real Stormy Story
More Threads
Report threads that break rules, are offensive, or contain fighting. Staff may not be aware of the forum abuse, and cannot do anything about it unless you tell us about it. click to report forum abuse »
If one of the comments is offensive, please report the comment instead (there is a link in each comment to report it).
If one of the comments is offensive, please report the comment instead (there is a link in each comment to report it).
Stats for this Thread
514 Views
12 Comments
Created: Jan 2023
Last Viewed: Apr 16
Last Commented: Jan 2023
15 Likes
Last Liked: Jan 2023
2 DisAgrees
Last DisAgreed: Jan 2023