I first heard about the cashless society back around 1988. By 2000, cash would be gone, or so the stories went. haha.
Now, in 2012, the cashless society is almost here…
I’d say that it’s closer to being here than it was in 1988, but I wouldn’t be surprised if people who are waiting for this to happen will be using walking frames and wondering, “Is it here yet?”
Why isn’t the cashless system in place yet?
The illicit drug trade runs mostly on cash, which is then laundered through the banking system. If someone can explain to me how the usual suspects will continue to profit from the illicit drug trade in a cashless system, I’d be all ears. And no, a few pot heads paying for their stuff with Bitcoin in the San Francisco Bay Area doesn’t cut it as an explanation.
We currently have institutionalized money laundering of (potentially) hundreds of billions of dollars per year. How does that happen when every single transaction, no matter how small, goes into a permanent database?
There have been no technological barriers to establishing a cashless system for at least 20 years. And in practice, most people function as if they are in a cashless system already. So, what’s the hang up?
Among the long list of items bundled by consensus reality merchants under the banner of ‘conspiracy theory’, is a world without cash – where technocrats rule over the populace, and everything and anything is exchanged via plastic and RFID chips.
In this sterile and controlled Orwellian hi-tech society, the idea of cash being passed from hand to hand would be as archaic as the thought of carrying around a rucksack of tally sticks today.
Still, despite the incredible penetration of credit and debit card transactions into economic aggregate, and the boom in internet shopping, few will comfortably admit that a cashless society is nearly upon us. In part, it’s a natural denial by many fueled by the idea of our society is indeed on a collision course with the sort of dystopic impersonal future like that depicted in the 1970?s sci-fi film classic, ‘Logan’s Run’.
Research Credit: HB
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