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> A lot of people find it prudent to have a buffer of cash Cash is always more trustworthy than a bank, if you can ensure its safety. Many people during the gr
by southerntofu 5y ago
> A lot of people find it prudent to have a buffer of cash
Cash is always more trustworthy than a bank, if you can ensure its safety. Many people during the greek "crisis" (eg. when the Greek government took money from the people to distribute to the foreign Troïka under the pretext of a misrepresented "debt") wish they had not stored their money in banks.
> 2. Crime. Sure, crime is conducted in cash
I don't have stats, but i think you'd be surprised how much of crime does not use cash. I mean sure, drug trafficking probably involves cash at all levels, but the most serious crimes committed by people in power don't. These people bank-wire funds to remote accounts, as exemplified in the Pandora (and previous) leaks.
Also worth pointing out, cash is the money of the poor. Even when you're too poor/indebted for banks to open an account for you, you can still handle cash daily to survive. Even when you have a bank account, you can usually withdraw your cash before being seized, because money seizures usually take at least a day. So, say your corrupt government/justice has indebted you to a boss/landowner for incredible sums: even if you earn your wage via bank transfer, keeping it in cash is your only option to avoid feeding the insanely-rich and eating dirt yourself.