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the winnipeg sandbox » winnipeg sandbox.. » national... » coming soon to a wallet near you....umm plastic money???

coming soon to a wallet near you....umm plastic money???

+5
FlyingRat
grumpy old man
St Norberter
SMW
Deank
9 posters

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Deank

Deank
contributor eminence
contributor eminence

http://www.winnipegfreepress.com/canada/breakingnews/paper-bills-to-be-replaced-with-plastic-budget-86402432.html

waaaaa?????

and JTF thinks our civic gov comes up with things out of left field.

SMW

SMW
major-contributor
major-contributor

So we'll no longer have "money to burn" per se, but rather money to melt?

http://www.conceitedjerk.com

St Norberter

St Norberter
major-contributor
major-contributor

There are a lot of currencies that are 'plastic'. Australian money has been for a while and there are a lot of other currencies. It's also much harder to counterfeit.

http://bgilchrist.wordpress.com/

grumpy old man

grumpy old man
administrator
administrator

Meh. I don't care either way. There will come a day, sooner than maybe we'd like, where all money exchanged will be electronic.

FlyingRat

FlyingRat
moderator
moderator

The U.S. still uses cotton, don't they?

Why don't we compromise between U.S. and Australia, and go with polyester! Smile

AdamX

AdamX
contributor
contributor

coming soon to a wallet near you....umm plastic money??? Lol

http://www.cakefarter.com

Guest

Anonymous
Guest

grumpy old man wrote:Meh. I don't care either way. There will come a day, sooner than maybe we'd like, where all money exchanged will be electronic.

That'll never happen.

I'd say that a very small percentage of the world's population actually has a bank account.

I reckon that we're as electronic as we can get where it comes to money. Just say'n...

grumpy old man

grumpy old man
administrator
administrator

I'm not talking about the rest of the world. I'm talking about Canada. And this cashless society is well underway. There are now people who use almost exclusively debit and credit cards.

I recall reading a report that some welfare offices are handing out loaded debit cards rather than cheques and cash.

Some phones, iPhones I believe, have cash transfer apps available now. In fact I believe I could transfer cash to you by phone.

I can buy stuff on the internet without a credit card number. And send it to my nephew in China as well...

There will be a time when retailers will stop accepting cash entirely. Try buying gas with cash after midnight now...

Oh, we are indeed much much closer than you think.

AGEsAces

AGEsAces
moderator
moderator

It's already here

In a press statement posted on its website, Visa said it is developing a payment service that will enable consumers to make mobile payments on the go, like a credit card, or over wireless networks.

http://www.photage.ca

Guest

Anonymous
Guest

grumpy old man wrote:I'm not talking about the rest of the world. I'm talking about Canada. And this cashless society is well underway. There are now people who use almost exclusively debit and credit cards.

I recall reading a report that some welfare offices are handing out loaded debit cards rather than cheques and cash.

Some phones, iPhones I believe, have cash transfer apps available now. In fact I believe I could transfer cash to you by phone.

I can buy stuff on the internet without a credit card number. And send it to my nephew in China as well...

There will be a time when retailers will stop accepting cash entirely. Try buying gas with cash after midnight now...

Oh, we are indeed much much closer than you think.

Well, we don't live in isolation here in the Frozen White North ya' know.

The problem with the theory of a cashless society is that the government will never give up its ability to control the money supply and benefit from seigniorage, the difference between the cost to produce the money and its face value.

Interesting note from the U.S. Federal Reserve....

Paper currency in circulation has climbed steadily through the decades, according to the U.S. Treasury, totaling just $81 million in 1975, which was about $380 for every person in the United States.

Last year, the total added up to about $2,578 in circulation for every American. The calculations are adjusted for population growth.

http://www.forbes.com/2006/02/11/cashless-society-cash_cx_em_money06_0214cashless.html

grumpy old man

grumpy old man
administrator
administrator

I don't know that the government loses control going to a paperless society. They may well have greater control. Who knows???

Guest

Anonymous
Guest

Ahhhh....only the government can print money GOM. If the give that up, they're screwed.

Imo, we've pretty much gone to the limits of cashless.

AGEsAces

AGEsAces
moderator
moderator

Actually...the government should WANT the cashless society.

As long as cash exists, crime exists...
under-the-table payments exist...
untaxed transactions exist...

If society went 100% cashless...government would have COMPLETE control on everything, and everything would be taxed.

It's in the best interest of the people to NOT go cashless 100%.

http://www.photage.ca

Deank

Deank
contributor eminence
contributor eminence

LOL.... oh man... cashless will be just as easy to rip of the gov.

AGEsAces

AGEsAces
moderator
moderator

Deank wrote:LOL.... oh man... cashless will be just as easy to rip of the gov.

How so?

If there's no cash, or if what cash there is has no real value...then how can you rip them off?

I would imagine a barter/trade system would become standard for lower-income, or those who don't have/use banks...but otherwise...everything would be done electronically. And the government would be able to track what transactions are occurring and take their "cut".

http://www.photage.ca

cherenkov

cherenkov
contributor plus
contributor plus

The government does not control money supply by literally printing money. It controls money supply by changing reserve requirements and the interest rates that it charges the banks.

http://anybody-want-a-peanut.blogspot.com/

Deank

Deank
contributor eminence
contributor eminence

AGEsAces wrote:
Deank wrote:LOL.... oh man... cashless will be just as easy to rip of the gov.

How so?

If there's no cash, or if what cash there is has no real value...then how can you rip them off?

I would imagine a barter/trade system would become standard for lower-income, or those who don't have/use banks...but otherwise...everything would be done electronically. And the government would be able to track what transactions are occurring and take their "cut".

a prime example would be ATMs and credit cards.. right now they get ripped off. They are "Secure" and yet it still happens.

Bartron

Bartron
major-contributor
major-contributor

AGEsAces wrote:Actually...the government should WANT the cashless society.

As long as cash exists, crime exists...
under-the-table payments exist...
untaxed transactions exist...

If society went 100% cashless...government would have COMPLETE control on everything, and everything would be taxed.

It's in the best interest of the people to NOT go cashless 100%.


What if a friend wants to lend another friend money? The government doesn't get a cut of that. I don't think it would be very hard to disguise drug/criminal transactions as other things.

AGEsAces

AGEsAces
moderator
moderator

DeanK...that's a TERRIBLE example. That's people ripping off each other...not ripping off the government.

And Bart...you are right...mostly...but it depends on the amount of money, and how it's "loaned".

ie. I could right now hand you $100k in cash, and NOBODY would know but you and I...but if I wrote you a cheque, or transferred it electronically via paypal, or ATM/Debit...then the banks know...AND the government knows.

Now, there are laws about amounts being lent, I don't know the exact numbers, but I think I remember hearing anything over $10k requires some kind of reporting...but done electronically...it doesn't matter the amount...it gets reported.

http://www.photage.ca

Deank

Deank
contributor eminence
contributor eminence

AA.... whatever the monetary system there will always be "fences" who will pay you pennies on the dollar to convert your illegal money into legal stuff.

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