If every bill is accountable to you,
and has to be checked for validity before the transaction can be completed,
then all the cash in your pocket can effectively be turned off, at any time.
If the government doesn't like you, you can't buy anything... not even food.
I use cash to support local businesspeople, especially family owned businesses. Every time I use a credit card, the owner/manager gets to pay between 1 and 3 percent to the credit card company. When I pay cash, the owner/manager gets to decide what to do with that 1 to 3 percent. Whatever is done with the money, it very probably stays local.
You can be absolutely certain that when completely accountable "new money" is required, the banks will do the accounting for it.. for between 1 and 3 percent. of EVERYTHING.
Slashdot Mirror
If every bill is accountable to you, and has to be checked for validity before the transaction can be completed,
then all the cash in your pocket can effectively be turned off, at any time.
If the government doesn't like you, you can't buy anything... not even food.
Why do we still carry money anyway?
I use cash to support local businesspeople, especially family owned businesses. Every time I use a credit card, the owner/manager gets to pay between 1 and 3 percent to the credit card company. When I pay cash, the owner/manager gets to decide what to do with that 1 to 3 percent. Whatever is done with the money, it very probably stays local. You can be absolutely certain that when completely accountable "new money" is required, the banks will do the accounting for it.. for between 1 and 3 percent. of EVERYTHING.