Cashless society!?

I assume the money you mention is from the face value of the bonds they have purchased from the US. You are assuming they are redeemable on demand~ no. Such bonds have to have the stated periodic interest paid, but it is long term. If the Chinese no longer wants them, they can sell them to others, but they do want them as they see value, paper or not.

 

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I for one don't think there will ever be a cashless society, here or anywhere else. There has been credit since the time man first began trading goods, and credit cards for over 100 years now, so mankind has had literally thousands of years to go cashless. Yet, we find ourselves using more cash now than at any other time in history. That says a lot.

 

Oh please. The world didn't end. For some reason I don't think you saved the world single-handed. Planes didn't fall out of the sky, the world didn't collapse, the sun didn't crash into us. It was more hype than anything and you know it. What, they upgraded some computer software?

But the cashless society is here. I think I posted something before. How do government workers get paid? How do large companies, and even middle size and small size companies pay their workers now? When is the last time you saw someone walk into a car dealership and hand over $150k for a car? And if for some strange reason someone did that, they would tell them to go to the bank. Day by day we're inching closer to this cashless society. Everyone pays with credit cards, debit cards. Try to rent a car without a card. Buy a plane ticket. The coins you buy online. That is real. You see it happening everyday.

This has no comparison to Y2K.

 

Well, Denmark has already announced an intention to go cashless, so Denmark stands outside of "anywhere else". Shame, nice looking coins.

 

I'm so confused!

 

You should be. The PROPORTION of transactions involving cash is at an all time LOW.

 

The Danish coins and notes are there to stay. See the earlier posts in this topic, and this recent thread.

Christian

 

Yes, but eliminating the "must accept cash" status is a Step 1 to many subsequent ones.

 

See the other topic and my reply there. That "elimination" just applies to selected businesses. Then again, I cannot use cash for tax payments (and I am not in DK) anyway, some places/services in the US won't let me use cash, etc. The trend is sure there, and has been for a while ...

Christian

 

@geekpryde - I've noticed a lot of places that offer a discounted price if paid in cash (mostly at gas stations that offer a roughly 10 cent per gallon discount). Accepting credit cards is a cost which is of course passed on to the customer through higher prices - in this case directly to the card users and not to the cash users. Also speeds up cash flow!

 

Edit: way off-topic. In the unlikely event that anyone actually wants to discuss Y2K, please start a thread in General Discussion and ping me.

 

I love how we buy our collector's coins from the government with our credit cards.

 

No that the interest were getting to . And if the Chinese stop buying our bonds well not to many can pick up the pace of buying

 

And it stops here. We do not allow sexist remarks either, one more and infractions will occur.

 

My apologies for my part in dragging the thread off-topic. I've edited out my rant.

 

My original was REMOVED BY THE MOD

How can I put this nice not like you. You did not a thing in the Y2k so you did not save the world ok

 

and for good reason. I said stop it. If removing posts don't do it, the poster is usually next. Thanks.

 

You got it OK