Re: Cashless society
There are some real pitfalls to not having cash:
- if the Gov't decides to 'bail in' some of your money (as happened in Cyprus) then you have no way to avoid it.
The true cashless society will result in more people holding silver or gold. The value of the intermediary medium relies on the faith people place with it. If society thinks the Government will fuck them over then they'll likely move themselves back onto a Gold Standard all on their own. We've had money printing and Brexit fears meaning the £5 note is now worth about £3 in buying power. Switch to cashless and/or a bail-in and it'll be worth fuck all.
Biting the hand that feeds IT
