4 ms·

I have $200 in a variety of denominations in my glove box. I have $2 000 cash at home. Once I’m home I can write myself a cheque, and with my passport, easily

I have $200 in a variety of denominations in my glove box. I have $2 000 cash at home. Once I’m home I can write myself a cheque, and with my passport, easily withdrawal more money at any bank (or grocery store). Also, if a natural disaster happens (earthquake, fire, flood, hurricane, Norsemen with iPhones disembark on our shores) I don’t have to rely on any network to buy something. I just pay cash, or write a cheque. Cash is very robust. (Booze, cigarettes and gold more so, but that’s another story)

flurdy 8y ago
I don't. Perhaps mostly as I live in a different country. I do have a £5 or 20 note as an emergency money in my bag and £20-40 in some drawers at home. E.g. to buy lunch if I come across a food stall that doesn't accept card payments. Rarer and rarer is it needed in the UK, and when I lived in Norway it was months between each time I needed cash. I do however have spare debit/credit cards at home and my bag as well in case I lose my wallet. (I have never actually lost a wallet, but have left it in my coat/trousers at home etc) With more and more stores (especially in Scandinavia as the OP details) no longer accept cash, and have not accepted cheques for decades, I am not sure your solution is a long-term solution. [1] https://www.bostonglobe.com/business/2016/08/03/paying-cash-some-stores-say-thanks-greenbacks-credit-only/a4EvjwgTpI7r4lD3xVOENO/story.html https://www.bostonglobe.com/business/2016/08/03/paying-cash-... [2] https://business.financialpost.com/news/economy/no-cash-signs-everywhere-has-sweden-worried-its-gone-too-far https://business.financialpost.com/news/economy/no-cash-sign...
- djdjdndhx 8y ago
  A society that stops accepting cash is fragile - it relies on sophisticated networks few people understand that required a lot of maintenance. Physical money is literally prehistoric - quite robust. And consider: In EU, just a few years ago, the Greek citizenry realized that “their” money was being held hostage in EU negotiations.[1] The Greeks were forbidden from withdrawing their funds (or using them for that matter) Mind you, the Greek govt debt is the govt debt, not their personal debt. Your country, not 30 years ago, was brought to its financial knees single handeldly by Soros (the man who broke the Bank of England). [2] Now, facing Brexit and the potential poop storm it may end up being, you’re OK having 20 quid in your pocket? I grew up in a third world country. For me, this naïveté is real privilege! [3] [1] this is what power is willing to do to defend finance [2] the UK is hardly immune. [3] sorry for the word naive, but it really seems that way to anyone who lived through a country colapse.

flurdy 8y ago

I don't. Perhaps mostly as I live in a different country. I do have a £5 or 20 note as an emergency money in my bag and £20-40 in some drawers at home. E.g. to buy lunch if I come across a food stall that doesn't accept card payments. Rarer and rarer is it needed in the UK, and when I lived in Norway it was months between each time I needed cash. I do however have spare debit/credit cards at home and my bag as well in case I lose my wallet. (I have never actually lost a wallet, but have left it in my coat/trousers at home etc) With more and more stores (especially in Scandinavia as the OP details) no longer accept cash, and have not accepted cheques for decades, I am not sure your solution is a long-term solution. [1] https://www.bostonglobe.com/business/2016/08/03/paying-cash-some-stores-say-thanks-greenbacks-credit-only/a4EvjwgTpI7r4lD3xVOENO/story.html https://www.bostonglobe.com/business/2016/08/03/paying-cash-... [2] https://business.financialpost.com/news/economy/no-cash-signs-everywhere-has-sweden-worried-its-gone-too-far https://business.financialpost.com/news/economy/no-cash-sign...

djdjdndhx 8y ago
A society that stops accepting cash is fragile - it relies on sophisticated networks few people understand that required a lot of maintenance. Physical money is literally prehistoric - quite robust. And consider: In EU, just a few years ago, the Greek citizenry realized that “their” money was being held hostage in EU negotiations.[1] The Greeks were forbidden from withdrawing their funds (or using them for that matter) Mind you, the Greek govt debt is the govt debt, not their personal debt. Your country, not 30 years ago, was brought to its financial knees single handeldly by Soros (the man who broke the Bank of England). [2] Now, facing Brexit and the potential poop storm it may end up being, you’re OK having 20 quid in your pocket? I grew up in a third world country. For me, this naïveté is real privilege! [3] [1] this is what power is willing to do to defend finance [2] the UK is hardly immune. [3] sorry for the word naive, but it really seems that way to anyone who lived through a country colapse.