Will Cash Be Banned?
Graphic: storm8hackzweebly
As our world becomes more and more electronic, fewer of us use or carry cash. I personally don’t carry much cash. I find for some unknown psychological reason it tends to slip through my fingers much faster than it does when I use a debit card. Also a card can be put on hold if you miss-place until found or replaced. Cash however, is unusable if miss-placed and if lost is simply gone. The same holds true if the card is stolen the funds can be held by the bank and you don’t lose the use of it.
Like may others though, I like to have a cash backup in the safe or a hidden location in the home for emergencies. When the power is out or the grid is down…. your card whether credit or debit is useless! I don’t like the amount my cash has devaluated over the years but that has the same effect on monies transferred via electronics as well.
It is the belief and opinion of some of the financial experts that the use of cash is being phased out altogether. It has become the method of transfer most popular by criminals and others that have financial gains to hide. It is also the tender of choice for those who wish not to be tracked via their spending habits. Or as with many preppers not to have a obtainable record of what they own or don’t own for opsec reasons.
Will cash be eventually banned as legal tender? See the opinion of Sovereignman regarding the question linked below.
The ban on cash is coming. Soon.
Also see the paper written for Harvard Kennedy School by Peter Sands referenced in the blog at this link
M-RCBG Associate Working Paper No. 52
As well as the opinion on the paper and its ramifications on the criminal element from Christopher Coble, Esq.a former bank chief also linked
Ex-Bank Chief: $100 Bills Are a Criminal’s Best Friend
How will this effect you? Will it effect you at all? Agree or disagree with the idea of phasing out paper money? Stop by our Facebook page The Prepared Page and leave a comment to let your opinion be known!
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