Cashless society?

[Kframe]

So, in a effort to drive "underground money" into the banking system and move to cashless system, India has voided(to use the words of the article) 90% of its cash money..

http://www.wsj.com/articles/inside-indias-unprecedented-assault-on-cash-1481538604?mod=e2fb

Mark of the beast issues aside(LOL I kid I kid), why make this move? Can anyone here tell me the benefit of doing this? Especially considering that a hell of a lot of India is dirt poor.

 

[Jack Reacheround]

So, in a effort to drive "underground money" into the banking system and move to cashless system, India has voided(to use the words of the article) 90% of its cash money..

http://www.wsj.com/articles/inside-indias-unprecedented-assault-on-cash-1481538604?mod=e2fb

Mark of the beast issues aside(LOL I kid I kid), why make this move? Can anyone here tell me the benefit of doing this? Especially considering that a hell of a lot of India is dirt poor.

Well, without cash, no money can get lost. So you can know exactly how much money is in circulation at all times. I don't know if there is any great benefit to that, but I imagine no cash makes that possible.

 

[GODZILLA213]

Well, without cash, no money can get lost. So you can know exactly how much money is in circulation at all times. I don't know if there is any great benefit to that, but I imagine no cash makes that possible.

I would add it's also another way for curtailing tax evasion or people working under the table. Once all transactions become digital, all transaction will be trackable. It's an interesting concept to think about, but I can't imagine it not failing.

 

[Aegon Spengler]

Cash rules Everything Around Me! Dolla Dolla Bill Ya'll

To me this seems like a method of control. Imagine if the state could just wipe out your bank account in a flash and you had no other recourse, no way to crawl back up the ladder...nothing. Destroyed forever. No body will take your money, nobody will be able to pay you.

 

[sleepwalk]

^^^^
Beat me to it.

 

[Bunk Moreland]

It's not all cash in India. Just two bills. Moving toward more electronic payments. Bringing India into the 21st century with this step.

Oh, along with toilets and solar for all.

 

[Pliny Pete]

Cash Moves Everything Around Me! Dolla Dolla Bill Ya'll

C.M.E.A.M.?
The title is right there in the fuckin video and you still got it wrong

 

[DaleBoca]

Yeah, no. Cash business will never like this. Plus, how are you gonna make it rain at the titty bar?

 

[usfbrah]

That's fucked up. That's why I hate banks

 

[Aegon Spengler]

C.M.E.A.M.?
The title is right there in the fuckin video and you still got it wrong

Oh well

Can't win em all, petty Pete

Did I get that one wrong as well?

 

[badascan]

Everything done using cash can be done without it in an utopian world.

 

[Adamant]

Fuck cashless society.

I like to hold my bills.

 

[SherdogGoat]

Damn, didn't know bitcoin soared to almost $800. This must be one of the big reasons for the increase in value.

 

[Kirin]

It's something that economist ken rogoff has suggested the u.s. do as well, with respect the $100 bills. They're primarily used in the black market, by tax evaders, such as drug dealers, gun runners, etc.

Not a bad idea.

 

[DIABOLUS]

Yeah.... fuck all that.

 

[Phlog]

So, in a effort to drive "underground money" into the banking system and move to cashless system, India has voided(to use the words of the article) 90% of its cash money..

http://www.wsj.com/articles/inside-indias-unprecedented-assault-on-cash-1481538604?mod=e2fb

Mark of the beast issues aside(LOL I kid I kid), why make this move? Can anyone here tell me the benefit of doing this? Especially considering that a hell of a lot of India is dirt poor.

There is a problem of women taking their mens money and hoarding it. This takes money out if the system, no taxing, no interest etc. Government cannot control a currency effectively when it cannot track it's use. We're talking billions of lost tax.

 

[Kframe]

It's not all cash in India. Just two bills. Moving toward more electronic payments. Bringing India into the 21st century with this step.

Oh, along with toilets and solar for all.

Well the article I posted used the 90% term. They likened it to the US voiding the $20 and $100 bills. Voiding the $20 would make life a real hassle. I have no desire to pay all things with E-cash.

 

[AndersonStreet]

Cash rules Everything Around Me! Dolla Dolla Bill Ya'll

To me this seems like a method of control. Imagine if the state could just wipe out your bank account in a flash and you had no other recourse, no way to crawl back up the ladder...nothing. Destroyed forever. No body will take your money, nobody will be able to pay you.

According to a rockerfeller whistle blower the plan is to have everyone chipped and if you cause problems they can just turn it off.

 

[Pliny Pete]

Everything done using cash can be done without it in an utopian world.

What are you gonna stick in strippers g strings?

 

[Scott Parker 27]

Thats a scary concept. Just another way for the government to see who is spending money on hookers or drugs and use it against them...I mean me.