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In praise of cash

aeon.co

291–300 of 369 posts

Re: In praise of cash

#291
post #242

Earlier quoted context omitted.

It's not, of itself, incriminating. And if you can't sell it, you've still got clean clothes.

Plus, everyone with even the smallest amount of money, wants to be clean; it's an incredibly basic need. Alcohol will probably always been a good form of barter too.

As would anything that comes with a tax such as cigarettes.

Re: In praise of cash

#292
post #281
post #168

Earlier quoted context omitted.

"Arguing that you don't care about the right to privacy because you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -Edward Snowden

To be the devil's advocate here, what situation can you imagine that would warrant a person to legitimately hide information or keep secrets from their own government?

* Your government isn't a utopia, and thus has corruption

* Your government won't adequately protect collected information from your stalker

* Your stalker has friends who work for the government

* Your stalker works for the government

* You're gay, and live in the UAE, where your outing may result in your death

* You're gay, and live in the USA, where your outing may result in your death

* Your government has too many laws to count - nevermind read - and can find a violation of them for anyone, given enough time

* Your government won't adequately protect collected information from other governments

* Your government won't adequately protect collected information from your competitors

* Your government won't adequately protect collected information from identity thieves

Re: In praise of cash

#293
post #78

Earlier quoted context omitted.

A cashless society would be an attempt to create a society that lacks basic economic freedom, but it would also fail. People will simply return to barter, and the use of whatever precious metals/stones/etc are hot that year.

We have cryptocurrencies already, no need to return to precious metals

If the power goes off, you shall return to whatever enables you to buy food, be it gold, arrowheads, detergent, drugs etc.

Re: In praise of cash

#294
post #78

Earlier quoted context omitted.

A cashless society would be an attempt to create a society that lacks basic economic freedom, but it would also fail. People will simply return to barter, and the use of whatever precious metals/stones/etc are hot that year.

Lot's of comments below are uptight about the definition of "barter". Which is a very vaguely defined word: trade of goods/services without the use of money. Old school accounting in many parts of the world did not rely on financial transactions. Central authorities preferred "proper" financial instruments, but for the commoner, bartering was a regular activity. Knicks on clay tablets tracked debt, sure, but the repa…

Have you heard of the Real Bills Doctrine? It's essentially the modern equivalent to clay tablet tracked debt.

https://en.m.wikipedia.org/wiki/Real_bills_doctrine

Re: In praise of cash

#295
post #240

Earlier quoted context omitted.

Last year I tired of reconciling my credit card and checkbook accounts, so shifted to using cash only (I have credit cards if there's an emergency). So far I'm spending ~10% less each month. I'm more careful about purchases. I get and seek cash discounts. Best of all I don't need to do the reconciliation.

How do you ask for a cash discount?

Technically charging less for cash violates merchant credit card ToSs, so big companies don't do it and small companies don't advertise it. If you're making a big purchase you can just ask.

Re: In praise of cash

#296
post #281
post #168

Earlier quoted context omitted.

"Arguing that you don't care about the right to privacy because you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -Edward Snowden

To be the devil's advocate here, what situation can you imagine that would warrant a person to legitimately hide information or keep secrets from their own government?

Trust is a two way street. How can you tell me that I have nothing to hide while keep secrets from me?

Re: In praise of cash

#297
post #11

I would never support getting rid of cash, it's a basic right to spend money without being tracked.

it's a basic right to spend money without being tracked. No it's not. I very much want there to be a way to spend money anonymously, but I can't frame that as a 'basic right'.

If you consider money to be a form of speech (I don't but it's been successfully argued in US case law) then I'd argue it is a right as I'd argue availability of anonymity is a prerequisite of free speech.

Re: In praise of cash

#298

Earlier quoted context omitted.

That doesn't negate either coldpie's or my points; if anything, having people use cash effectively helping to subsidize the "credit card tax" only adds more weight to the argument that it's an unreasonable arrangement that only serves to enrich the credit card companies.

yes it does. from a game theoretic perspective, it only would make sense for me to switch to cash if everyone else did so that the store wouldn't incorporate the extra fee into the price of their goods. However, one can't control others, they can only control their own behavior. So in a situation where there goods cost extra, because others are still using their cards and the owner has to markup prices, the only rati…

By your own admission a few comments up you'd personally be saving 50 cents every time you shopped at a mom & pop store.

Re: In praise of cash

#299

But cash is an untraceable anonymous currency, used by drug dealers and child pornographers!

If you believe the gov't propaganda, yes. But drug dealers and child pornographers will always find alternative methods of payment because their activity is illicit.

The real reason of the move to cashless is taxes and the fact that governments everywhere borrow without intending to ever pay back. When the shit hits the fan, the payment will come out of your and others' bank accounts.

Re: In praise of cash

#300

Earlier quoted context omitted.

Cash handling is not free either. Large amounts require security or increased risk.

Risk doesn't cost money in the way payment processing costs money.

Unless you keep all your cash collected under the pillow it does cost money to deposit it at the bank.
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