Notice The Cashless Society

[EL PRESIDENTE]

http://www.zerohedge.com/news/2017-07-24/banks-are-scheming-dominate-future-cashless-society

Summary:

The Big Banks and the Deep State are attempting to eliminate cash to track spending patterns for big data as well as to control the means of spending.

Visa recently announced its new Cashless Challenge program, which offers $10,000 to restaurants willing to transition into accepting only digital payments. As the largest credit card processor in the U.S., it’s no surprise Visa is spearheading this campaign.


Under the guise of increasing transparency and efficiency, they’ve partnered with governments around the world to help convert financial systems into cashless models, but their real incentive is the billions of dollars in extra transaction fees it would generate.



“We are declaring war on cash,” Visa spokesman Andy Gerlt proudly proclaimed after the program was announced.

The food-based small businesses Visa is targeting are among those that benefit most from accepting cash from customers. When transactions are for amounts less than $10, the fees charged cut significantly into profits. Only 28% of food trucks currently accept credit card payments because of the huge losses they incur from them. The bribe from Visa may seem appealing up front but will be mostly paid back to them over the next few years in fees alone.

 

[barfo]

Or maybe Visa just wants to make more money. Capitalism at work.

barfo

 

[lawai'a]

color me in as one that will boycott those establishments that adhere to the cashless future. the mafia on steroids getting a piece of the action on the buyers and sellers end, and taking a 3%+ cut of the countries GDP for the accounting privilege

 

[EL PRESIDENTE]

Or maybe Visa just wants to make more money. Capitalism at work.

barfo

They sell the consumer data to research firms and whoever else for whatever purposes they see fit.

This all ends up going to hedge fund managers and probably the government. As Artificial Intelligence evolves the ramifications will be scarier.

 

[EL PRESIDENTE]

http://www.newsweek.com/secretive-world-selling-data-about-you-464789

You’ve probably had the experience of receiving mail, paper or electronic, from companies that obviously obtained your name from another company’s list of customers. But what if you were to have a medical operation refused, without knowing it was because the hospital obtained a secret report that listed you as unlikely to pay? What if a college covertly turned you or your child down because they suspected you were unlikely to complete four years of payment? What if you didn’t get a job, without knowing it was because of a report that listed you as a possible drug addict?

Those are the claims being made by critics of data brokers, companies which collect personal information on people through both public and private sources—from court records to websites to store sales—and provide it to a wide range of buyers.

 

[SlyPokerDog]

But... but... how would you make it rain?

 

[EL PRESIDENTE]

But... but... how would you make it rain?

The three seashells

 

[EL PRESIDENTE]

Nowadays, the way people make it rain is by paying with a premium credit card like Visa Infinite or Amex platinum

 

[SlyPokerDog]

Nowadays, the way people make it rain is by paying with a premium credit card like Visa Infinite or Amex platinum

I like to make it hail. Copper hail.

 

[barfo]

They sell the consumer data to research firms and whoever else for whatever purposes they see fit.

Capitalism at work.

barfo

 

[EL PRESIDENTE]

Capitalism at work.

barfo

America is not capitalism.

 

[Mediocre Man]

Isn't this how the book of Revelations starts?

 

[EL PRESIDENTE]

Its how Demolition Man starts.

 

[riverman]

 

[BlazerCaravan]

Or maybe Visa just wants to make more money. Capitalism at work.

barfo

Our info is worth way more to companies than the government that serves those companies.

 

[EL PRESIDENTE]

Bump.

 

[EL PRESIDENTE]

 

[EL PRESIDENTE]

 

[EL PRESIDENTE]

 

[MARIS61]

Cash is king.

 

[EL PRESIDENTE]

Cash is king.

One should have some crypto. Russia wouldn't let anyone leave the country with more than $10k.

 

[donkiez]

Problem with cash these days are things are so expensive you need a whole roll on you to do anything substantial.

 

[Hoopguru]

Or maybe Visa just wants to make more money. Capitalism at work.

barfo

Money cost money.

 

[MARIS61]

One should have some crypto. Russia wouldn't let anyone leave the country with more than $10k.

Not leaving my country.

 

[EL PRESIDENTE]

Not leaving my country.

Canada was freezing bank accounts of people who merely donated to the Truckers protesting vaccine mandates, using a hacked database to ID those persons.

You really think the US wouldn't go this far?

 

[ABM]

Cash is king.

For the most part.

 

[jonnyboy]

Authoritarianism disguised as convenience. It’s convenient until you step out of line and they flip the ‘off’ switch on your ass. It’s why they are allowing corporations to take over everyone’s affairs. Then people’s rights to participate in commerce and discourse can be taken away (at the government’s behest) and it can be chalked up to a private company (many of which that are publicly traded) having the right to refuse service to anyone in a ‘free market’. We live in a corporatocracy pretending to be something else.

 

[e_blazer]

Cash is a wimpy king. Only 19% of transactions are made with cash and most are under $25 purchases.

https://spendmenot.com/blog/cash-vs-credit-card-spending-statistics/

 

[EL PRESIDENTE]

Cash is a wimpy king. Only 19% of transactions are made with cash and most are under $25 purchases.

https://spendmenot.com/blog/cash-vs-credit-card-spending-statistics/

Here at LAX, the ubers to my place are like $70, even though I'm like 2 miles away (they fucked up the uber prices here in LA)

I take a cab, I tell the cabbie to leave the meter off and I give him $30 in cash (it's usually a $18 fare). They appreciate it.

Usually you can negotiate discounts with vendors by paying in cash. Car repairs, etc.

I use my phone tap to pay a lot these days though

 

[EL PRESIDENTE]

We still have cash gifts from our wedding. Was gonna deposit to account but just keeping it in cash in our safe. Bug out fund in case shit hits the fan.