Ditching physical money

The Banks all over the Western world are winding down the cash withdrawls, it is probably an ongoing training exercise, the money held in the bank is no longer your money, and the amount of cash they have now by law to hold on hand is two percent of all their holdings.Some Banks no longer hold cash. Many businesses are going cashless , so at some point we can assume that physical paper money with be withdrawn. The warnings of cyber attacks are growing, at the same time that power outages are increasing most likely due to poor investments in upgrading infra structure. So just using electronic means to conduct trade holds the risk that if power goes off trade can no longer be conducted. Which also means that a big experiment is being conducted which is unprecedented in human history, like a big thought experiment. Which means that traditional banking where a depositor placed their fungable assets for safe keeping no longer exists. Isn't this a big risk condidering the times that we are in.So will another form of trade develop outside of the banking industry, because as sure as eggs whatever way you look at it , the reality is that the banks are no longer solvent if they can't deliver a depositors money back to them, which is the fact of the situation whatever way you dress it up.

a reply to: annonentity
Well a society cannot go cashless until legislation requires it. For all the businesses that refuse to accept cash, just don't eat, shop, or entertain yourself there.

Whenever I go to AMC theatres, I make it a thing to go through the whole show of pretending I don't know about this no cash at the concession stand policy and tell them should I just go to another movie theater?? No the solution is for me to go to customer service to pay for a gift card with my cash and then come back. I did that about four times last year. I wonder if others did too because eventually they opened a register for cash transactions. Now I can just go to that register to make my cash purchases.

We as citizens have to refuse to give ANY business that does not accept cash our income for their goods or services. it is a sleepwalk to totalitarian societal enslavement.

It's common in my region for certain consumer centers to have technical glitches with their terminals, or else hardline issues with other infrastructure and they're only able to operate with cash during those times.

I've had enough problems with card readers and various tech glitching out that I always have a bit of cash on hand to cover my purchases in case of emergency.

I don't get out much, so I try to be prepared so I don't waste resources on a futile trip into town.

I try to be optimistic, but not foolish.

a reply to: worldstarcountry

CASH is King . Long Live the King !

a reply to: GENERAL EYES

I can see a scenario down the line where,we seem to be sleepwalking down a road where one EMP will disrupt the whole trading economy , not even that a good Carrington event would do it as well.It would have the effect of shutting down the whole supply line in an instant.If that could happen then at some time it probably will. Which seems to be a problem of national security which another branch of government has allowed as a breach.Since the bankers seem to be in this NWO thing up to their necks it looks like that could be the plan.
Like whoops "All your digital assets have been scrambled and since you can't supply proof of the assets amount we were holding , you will have to fill out a form to submit to a government department for reimbursment, sorry there is nothing we can do as it was an act of God or War""

Socialise the loses, privatise the profit.

Bankers, eh 😉

a reply to: annonentity

Or a ‘training exercise’ that goes live and wipes all the records. Of everything. Everywhere 🙄

That would be a great reset.

a reply to: annonentity

I always carry cash make most of my $50 and under purchases with cash, for the most part. I still find it funny if I'm carrying say a 1000 cash in 20s and the tellr sees it and there eyes just pop lol I know that's not a ton of money but to these young people these days they be probably never really seen a big stack of cash

a reply to: TheMisguidedAngel

I also note that Costco is now selling Silver and Gold, they would not bother stocking it if there was no demand. It seems to be usefull as a second currency option at the moment , as I have read a few reports of people going to Mexico taking a few Libitards, you have to be carefull going into the EU as they charge a percentage on importation. But certain coins are legal currency like the Krugerand and Silver eagle.It also seems that a certain number of States are legalizing the pm's as an alternative currency , it wouldnt be out of the question that they would be handy in a financial collapse.

Yeah, take it to a judge. I won….





reply to: annonentity

a reply to: VirginOfGrand

Take the Krugerand is it actually an international currency , could you pass through borders with some jingling in your pockets with no problems, I don't see why not. atkinsonsbullion.com...#:~:text=Yes.,pure%20gold%20contained%20within%20it.[yvid]BEW4eCz4suU[/y vid]

a reply to: annonentity

real paper money went away a long time ago as far as being valuable, you once could take your paper and demand it's value for real gold, not buy it at a marked up price.

Gold Babies! GOLD! That's where it's at right now!

a reply to: annonentity

I don't think any government will have the guts to withdraw real paper money and metal coins from circulation.

Last year there was a software failure for a few days so paying with cards was impossible at LIDL, ALDI and whoever else, almost all of the monopolists in Germany or parts of Germany. I always and ever pay with cash so no problem for me. But oh boy, i never before and never since have i seen so many angry and helpless people who had to leave their purchases at the checkout and now have to go somewhere to get cash to pay for their purchases. I mean, is it so hard to put a bit of cash into your wallet for having a plan b if digital wonderland has hickups? It was for several days and it was in the news here but still people had no cash money to pay.

Tbh, for me it was funny waiting in line, counting my cash to pay and leave without any problems while some people with their cards and no cash were even close to a mental breakdown xD

And this was only cards, people could still pay via their spyPhones and of course with cash but for some people this was like the end of the world. Now let´s have a mobile network problem for a few hours so that spyPhones as a payment medium also fail everywhere. And in addition to that the drugstores and supermarkets are closed because maybe their cash desks are affected because of a complete internet crash. I would still be able to buy food from the farmers markets around. As long as i have enough cash at home (i do because i trust banks as far as i can throw the cologne cathedral) because without internet no one will be able to withdraw money either.

The only reason for a circle of people to want such an unstable and insecure system is that these people would not be affected by any problems because they have cash, gold and whatever enough. And that they can use this system as leverage against the lower class mob: You do not think and behave like we want you to? No coins to buy food, pay rent etc for you this month!

C.R.E.A.M.!
Cash Rules Everything Around Me!

a reply to: annonentity
Naah, you're a mite wrong. It's only South Africa that deems it legal tender, By legal tender means that you tender the coin to purchase goods, so no outlet would accept a Krugerrand as currency. In the UK it is classes as investment gold. So if you live in the UK if you have more than £5000 of gold, by law, you must declare it to the HMCR as you might be charged taxes.
There are plenty of companies in the UK that want to buy your gold but what they don't tell you that legally you have to provide provenance, ie receipts etc. from where you bought the gold in the first place and if you have over a certain amount you have to pay capital gains tax on sale.
The same applies if you try to just walk through customs with Krugerrands. The odd coin they'll let you through if you've got proof of purchase but anything over a few coins you will have to have an import licence/registered dealer and pay the appropriate taxes.

a reply to: annonentity

Not a thought experiment but rather the desire of governments to control the money transactions so that people don't avoid paying their taxes. I doubt we will live long enough to see the total end of cash though. There are businesses and banks which discourage the cash payments. However, there's not a small number of clients, especially older people, who don't want to and will not resign from the cash and most of businesses don't want to lose clients. For now on, it's possible to boycott the businesses and institutions which don't accept cash payments without being marginalized.

I'm terribly old-fashioned. I don't use my payment card at all. I logged into my internet bank account only once to change the default password (into something I wouldn't divulge even if I was tortured because I don't remember it) and never looked into it again. Whenever I visit my bank to get the cash, I ask for a monthly report.

I don't use my payment card because it's more comfortable for me to use cash. Card transactions are relatively safe, I think. What I feel most paranoid about are online transactions that require you to log into your bank account. And while I could come around to using payment cards if there was no other option, ehen it comes to online transactions, I would rather resign from the services that require it altogether.

On the other hand, I don't understand the people who keep the huge amount of cash at home. It's still safer to keep it at the bank.

originally posted by: annonentity
a reply to: VirginOfGrand

Take the Krugerand is it actually an international currency , could you pass through borders with some jingling in your pockets with no problems, I don't see why not. atkinsonsbullion.com...#:~:text=Yes.,pure%20gold%20contained%20within%20it.[yvid]BEW4eCz4suU[/y vid]

I Used to know some lads did security on middle east rigs and boats, they brought their money back as loose change in their pockets so that they never got taxed on it. All Krugerrands

a reply to: SprocketUK

So basicly it is an international currency as long as you don't get caught. I also remember an old mate who sold up his business, and distributed the Krugerands through all the kids and family among change. He got through customs without any hitches but that was back in the day. Robbery at border crossings hasn't changed much over the centuries , it's just the excuses for doing it which have changed.

I've returned to my childhood hobby of coin collecting. Its only a matter of time until cash disappears from society, and I get nostalgic sometimes. Even if we get zapped back to the 1800's by an EMP or CME our currency won't be worth much since modern cash has no intrinsic value.

We will continue our march to CBDC's and approved crypto while currency in circulation continually diminishes. At some point TPTB will proclaim it is only used for black market purchases and tax evasion by those malcontents with low social scores. Which would be true. Then it loses its government backed value.

Those who have horded precious metals and illegal crypto may be able to live beyond their carbon quota through the black market.

When the EMP or CME does come, food, water, shelter, ammo will be king.

“I’d rather have a free bottle in front of me than a prefrontal lobotomy.” - Tom Waits