Do We Still Need Cash?

Is an economy without cash unavoidable? What would change?
Although the demand for cash money in industrial countries is higher than ever, political and economic interests could lead to a future with more control of how we pay.

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Sources:

"The Curse of Cash" - Kenneth Rogoff, 2016

How much U.S. currency is in circulation?:

US Currency in Circulation:

Why Sweden is close to becoming a cashless economy:

India scraps 500 and 1,000 rupee bank notes overnight:

China 'social credit': Beijing sets up huge system:

Is the Government Tracking Your Credit Card Purchases?:

How PayPal shares your data:

PayPal list of Third Parties:

[jimmyjim]

Lived in Japan a couple of years. Their society is still largely cash based and so I got used to it and have remained mostly cash based when returning to Australia. I'm not a fan of being sold as data so I like to remain off grid as much as possible. Another benefit is that I know cash is accepted (almost) everywhere.

When I came back to Aus I needed to set up my life again. When I got my driving licence reinstated I couldn't pay with cash. As my bank card was still in the mail, my only option was to walk to the bank, deposit money into my account, pay $10 for a cheque and then give it to them.

[Squaretable]

Ditching cash would be terrible for children, terrible for the elderly, and terrible for those with learning disabilities.

Moving to cards only would leave these groups in the dust.

[RandomHelper]

Excellent video! Keep up the great work. Very underrated channel on YouTube!

[spandor]

Der gute alte Gameonaut, du lebst ja noch. Freut mich! :)

[matabadia]

Really clear and well explained video. Thanks a lot, let’s generate conscience

[I.____.....__...__]

0:57 Sweden even gave homeless people credit-card readers so they can accept digital donations (which are then traceable—on both sides—and… taxable 😒).

[louisemartin]

Cash is important the moment we lose physical money we can be easily controlled, people on low incomes or government assistance would suffer most. Also in the future I can see phones disappearing for wearables then chips in the body such as hands (makes things so easy right) Wrong you will constantly be tracked, lose your job money stops immediately, with no keys with digital locks if you can’t pay your rent, you are locked out of your home. No longer will you have a choice-to save money at home free from the banking system, if there is Financial claps banks can immediately stop access to cash, look at what happened in Greece not to long ago instead you won’t be queueing at the bank to try to get your money out, there will be no money, can’t even get food, welcome to the future. If you do something the government does not like, chip in hand will be switch off, you can use public transport or leave the country, brilliant if you are a evil terrorist, but what if you are not & all you did was speak out against government policies, it’s truly frightening to think.

[chrsnknrankin]

Gold and silver are better then fiat cryptos and credit and debt
Look up some history there is a lot of reasons our forefathers in 🇺🇸 made Gold and silver money we used it for 5000 years ppl 😒