It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Dermo
Im sure in a cashless society, there would be numerous ways to cover up the transfer of funds.
Its also possible that one doesn't wont to be a registered business to debit money from someone's balance. People will always need to be able to give money to others. ie Loans between friends, family, Buying someone's second hand tv of them etc.
Originally posted by earthman4
We will come up with a currency backed by drug lords.
Originally posted by wutone
Originally posted by earthman4
We will come up with a currency backed by drug lords.
The black market is large, adaptive, and amorphous. As long as there is an official power that is bent on regulating the economy, whether it is something simple as imposing sales taxes or more complex as prohibiting drugs, there will always be a black market seeking to circumvent the powers that be. Getting rid of cash will just be another pathetic attempt to get rid of the black market.
Originally posted by Oldtimer2
Yes I would think it would be a barter system as cash would be worthless,can you imagine telling rich dude,I'll trade you 3 filet mignons and 2 NY steaks for your Ferrari
Originally posted by Cyberbian
A black market does not require cash to operate or exist.
Barter is the oldest form of trade, predating the existence of "Money"
Simple exchange of goods and services. If it once catches on in a modern society, it will become impossible to neutralize. Since the members of the society know that their wealth will be systematically taken away if they accept cash where barter was possible.