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Would you be OK with a cashless society?

Max 2012/03/30 17:03:45
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The U.S. Treasury Secretary, Timmy G., wants to get rid of cash and just use electronic transactions. He also says it is too costly to make pennies and nickels.
"According to Geithner it now costs 2.4 cents to make a penny and 11.2 cents to make a nickel because rising commodity prices have driven up production costs."


The Accelerating Economic Death Spiral

March 30, 2012 by






Treasury Secretary Timothy Geithner wants to change coins and stop printing bills.





Treasury Secretary Tim Geithner wants to change the materials used to make coins and replace paper money with digits on the computer (electronic transactions).


According to Geithner, it now costs 2.4 cents to make a penny and
11.2 cents to make a nickel because rising commodity prices have driven
up production costs.


Why are commodity prices rising? Because of inflation created by the
Federal Reserve’s money printing. According to an opinion piece in The Wall Street Journal, the Fed bought 61 percent of the total debt issued by the Treasury Department last year.


“The Fed is in effect subsidizing U.S. government spending and
borrowing via expansion of its balance sheet and massive purchases of
Treasury bonds. This keeps Treasury interest rates abnormally low,
camouflaging the true size of the budget deficit,” former Treasury
official Lawrence Goodman wrote.


So Fed policies of moving debt around, paying debt with more debt and
money printing gives Congress (and Americans) a sense that — even
though the deficit is tremendous — it’s not as bad as it really is.
Inflation has gotten out of hand and it’s driving up the cost of the
money Americans use, so Geithner believes it’s time to steer America
into a cashless economy, under the guise of saving what has become a
piddling $75 million.


Don’t buy into Geithner’s lie. The goal is to eliminate the
underground cash economy and make a way of tracking all purchases in
order to collect more taxes.


The elites in government won’t be content until they have stolen
every penny possible from every American. The underground cash economy
can’t be tracked and, therefore, can’t be taxed. It’s yet another effort
to stave off the economic collapse they’ve set in motion.


And, if all purchases become electronic, government will know what everyone is doing. As Gary North writes in his Tea Party Economist
blog: “The ATM is our friend. No matter how hard the government tries
to stamp out paper currency, people will use it. They buy freedom with
it. They buy privacy.”
















Read More: http://personalliberty.com/2012/03/30/the-accelera...

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Top Opinion

  • Bozette 2012/03/30 17:32:56
    No
    Bozette
    +5
    NO. Many people will, though, and have been being groomed for it for quite some time now. paypass, paperless statements and automatic withdrawals, debit cards. The lure of ease and incentives has set people up so that many will not only accept it, but welcome it.

    It is not only your privacy you would be giving up, but you could effectively be rendered completely penniless with a single computer entry.

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  • Charles E 2012/03/31 19:07:46
    No
    Charles E
    I like being able to buy something without anyone being able to directly link me to the transaction.
    Nothing illegal or immoral. I just want the right to privacy promised by the US Supreme Court in Roe v Wade.
  • JanHopkins 2012/03/31 06:42:52
    Other answer
    JanHopkins
    +1
    Considering that the money we use now has no real value since it is not real copper, ssilver or backed by gold I suppose it would'nt make that big of a difference, Except that you could no longer but a bit away under the mattress for a rainy day. A cashless society means that you could no longer buy anything in a private manner and the government will be monitering all of your purchases.
  • cut and paste king 2012/03/30 23:28:32
    Yes
    cut and paste king
    In last 10 years i hardly ever carry cash 99percent of time
  • La 2012/03/30 23:26:31
    No
    La
    At a minimum we need $1 and $2 coins and all the notes up to $100.
  • Sinpac 2012/03/30 21:18:19
    No
    Sinpac
    +4
    No I want green backs. I can see it now someone makes a mistake or accuses you of something then all your account get froze.
  • Rebel [SHP] 2012/03/30 20:41:46
    Yes
    Rebel [SHP]
    +1
    I think I'd be entirely ok with this to be honest.
  • Tom 2012/03/30 19:24:57
    No
    Tom
    +2
    I prefer to not use cash; but want the option should I ever not want to be tracked by the "system".
    Going to a strictly cashless society is just another way the government can keep tabs on us.
  • Helmholtz 2012/03/30 18:19:48
    No
    Helmholtz
    +3
    The more I think about the direction of the world, the more I want to become a mountain man.
  • Sinpac Helmholtz 2012/03/30 23:33:54
  • Dan ☮ R P ☮ 2012 ☮ 2012/03/30 18:09:43
    No
    Dan ☮ R P ☮ 2012 ☮
    +3
    No. Cashless systems, while convenient, force every single person to be a part of the system and will allow us all to have every single transaction we make be tracked by the government. In other words,its a complete violation of the 4th Amendment. Cashless systems also have a massive problem withthe government being able to to create money out of thin air, and with Obamacare, they are able to drain your bank account without warrant.

    Even though the Fiat system has the same flaw of allowing the government (or in our case the federal reserve owned by private banks) to print money freely, but there are at least physical limitations, and the government doesnt track your money 24/7.
  • Striker Dan ☮ R... 2012/03/30 19:27:45
    Striker
    +2
    hmmm how do we buy a shovel from the neighbor unless all of us carry c.c. machines?
  • Dan ☮ R... Striker 2012/03/30 22:56:22 (edited)
    Dan ☮ R P ☮ 2012 ☮
    +3
    Hopefully half of us are smart enough to barter with physical property, like silver, food, seeds, bullets, and other supplies

    However, depending on other laws passed, that might become risky, They wont settle for just knowing what you bought. Its all about control.
  • Sinpac Dan ☮ R... 2012/03/30 23:35:01
  • Dan ☮ R... Sinpac 2012/03/31 10:30:11 (edited)
    Dan ☮ R P ☮ 2012 ☮
    +1
    I think we need more and bigger guns, and even then its very possible that guns may be ineffecive with the sorts of weapons he government has these days.
    Although, we'll at least be able to protect ourselves from random thieves.
  • Striker Dan ☮ R... 2012/03/31 16:13:03
    Striker
    Yeah, wow, we could write a book.... or fill a library!
  • Striker Dan ☮ R... 2012/03/31 16:10:56
    Striker
    Yes, seems that anything and everything can't be left to function naturally, somebody's gotta make another lawbook!
  • Raymond59 2012/03/30 17:47:31 (edited)
    Yes
    Raymond59
    +2
    I would. All one has to do is start doing when there's no Money. It's called "bartering." No Records. No Hassles. No Government Intrusion.
  • Helmholtz Raymond59 2012/03/30 18:20:47
    Helmholtz
    +2
    Good luck to the guy who makes thumb tacks striking up a deal with the guy selling cars.
  • Raymond59 Helmholtz 2012/03/30 19:21:18 (edited)
    Raymond59
    +1
    I think that it would take a little more than thumb tacks to get that Car! Raved. :-D
  • Helmholtz Raymond59 2012/03/30 19:29:58
    Helmholtz
    +1
    Thanks man :)
  • Striker Raymond59 2012/03/30 19:26:07
    Striker
    A bit hard to make change - a barter club might hold credits and provide banking services in a quite limited way, that'd be good. It's like forgetting about "legal tender" and turning money over to the TRULY FREE market. Maybe BitCoin?
  • Raymond59 Striker 2012/03/30 19:42:39 (edited)
    Raymond59
    +2
    Honestly, the entire Monetary System has become a Joke! There's no Fiscal Responsibility to curb Spending. And, the Money is becoming worthless. Approaching $16 Trillion Dollars on the U.S. National Debt. Total U.S. Unfunded Liabilities at $118 Trillion Dollars. :-( Link: http://www.usdebtclock.org
  • Striker Raymond59 2012/03/30 21:53:43
    Striker
    +1
    You got it -- I've used debclock for years, it's great. USA creditors will be most unhappy whenever they wake up.
  • Delete 2012/03/30 17:46:40 (edited)
    No
    Delete
    +2
    Most people think that a move to a cashless society, with all transactions being done via computers and even – perish the thought – little microchips embedded in the body, is a wonderful idea. Balderdash.

    Don’t get me wrong. I’m just as fond of using my card to purchase things online as the next guy, but I’m still old fashioned enough to conduct some transactions still by a written cheque, snail mail, and even cash. Imagine hackers hacking into SWIFT, the Society for Worldwide Interbank Financial Transfer’s computers in Brussels. Nothing is impossible.

    A cashless society would be a nightmarish opportunity for the sorts of “assymmetrical warfare” types of operations of which terrorism is only the tip of the iceberg. Without multiple redundant systems of media of exchange, including good old fashioned cash, the opportunities for sophisticated people to do enormous damage to the world’s major economies is immense.

    Computer systems require such redundancies by the nature of the case, but we must understand, that economies need them too, for in the computer age, they are dangerously exposed to such activity. Economies need redundant layers of media of exchange. A totally cashless society, in my opinion, is a splendidly and magnificently bad idea.
  • God ble... Delete 2012/03/31 20:10:27
    God bless American freedom
    +1
    bravo!
  • Bozette 2012/03/30 17:32:56
    No
    Bozette
    +5
    NO. Many people will, though, and have been being groomed for it for quite some time now. paypass, paperless statements and automatic withdrawals, debit cards. The lure of ease and incentives has set people up so that many will not only accept it, but welcome it.

    It is not only your privacy you would be giving up, but you could effectively be rendered completely penniless with a single computer entry.
  • God ble... Bozette 2012/03/31 20:12:40
    God bless American freedom
    +2
    yes.. and why does my government need to know where and what kind of potatoes and carrots purchase at the grocers? Why do they need to know when my brother changes the oil in his vehicles?

    You answered it .... so I can be rendered penniless at the time of the governments choosing.
  • Bozette God ble... 2012/03/31 20:30:12
    Bozette
    +2
    Yes. While the grocery stores, followed by almost every store you go to these days, may have started their convenience cards as a way to target customers for repeat business, those can and I'm sure will be used to collect even the most basic info on people and will be collated into the fusion center and new Utah databases along with any other information they can access.

    Hackers are another real threat to a cashless society. As are errors. How many times have you had trouble getting an error resolved with a bank, company or agency because of a computer error? And how long has it taken? Imagine if your entire account was involved? What would you do for groceries or gas or any other necessity?
  • haarp35117 2012/03/30 17:18:09
    Yes
    haarp35117
    +1
    I ONLY USE MY CREDIT CARD ANYWAYS (I GET 1% CASH BACK) SO I WOULD BE OKAY WITH A CASHLESS SOCIETY

    CASHLESS
  • Striker 2012/03/30 17:17:33
    No
    Striker
    +4
    Timothy and the Goons want everything in the bank where they can track everything you do. Gov has already given itself rights to snoop in and withdraw from you bank account. Cancel GOV!
  • Bozette Striker 2012/03/30 17:21:00
    Bozette
    +2
    Your safety deposit box as well.
  • Razoreye001 2012/03/30 17:15:53
    Other answer
    Razoreye001
    Unsure, it is a good experiment but should be done on the small scale first and I'd have to do more research on all this.
  • God bless American freedom 2012/03/30 17:10:32 (edited)
    No
    God bless American freedom
    +4
    His "solution" only means government monitoring of what we all do, what we purchase, when we make the purchases, etc etc etc .. MORE government control . ( IE: slavery )

    Just say NO to criminal governments.
  • God ble... God ble... 2012/03/30 17:12:51
    God bless American freedom
    +3
    See this and read the link provided in it... google many of those mens names in association with US government officials.... and feel very very very sick to your stomach.

    http://www.sodahead.com/unite...

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