What does a cashless future mean?

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  • čas přidán 15. 06. 2024
  • Many countries are going cashless at great speed. What are the advantages of ditching hard cash and what are the dangers? Read more about a cashless future here: econ.st/2Mwhipb
    Click here to subscribe to The Economist on CZcams: econ.st/2xvTKdy
    Somewhere in the near future physical money will become like these - Relics of a different age. And will only be found in places like this. In other words hard cash will disappear. It will become electronic - transferred by things like these.
    So what’s the rush to get rid of cash? And what’s the cost?
    Let’s face it money is cumbersome for consumers and banks. Operating in cash costs countries about 0.5% of their GDP every year. But cost isn’t the only incentive to move towards a cashless future. Digital payments aren’t just easy - they are neat. Having every single payment automatically recorded is efficient. But there’s a downside.
    Electronic-money trails can allow governments and private companies
    to access and harvest personal data. But there’s another threat that is worrying banks - cyber-attacks.
    Still many countries are fast moving towards a cashless society. In Sweden the number of retail cash transactions per person has fallen by 80% in the past ten years. The trend is even evident in far more cash-loyal societies. China’s digital payments rose from 4% of all payments in 2012 to 34% in 2017. The trend is inevitable but a gradual transition is key.
    Some people may find it harder to grasp how much money they have without the physical representation of it. Not everyone knows how to use internet-banking technology. And people living in remote areas where internet cover is patchy may find they have to drive for miles for their basic needs. And there is another sector of society that relies heavily on cash.
    Going cashless is just the latest evolution of money in the modern economy. But it raises a fundamental question - what is the value of money if it doesn’t physically exist?
    The move towards cashless societies is well under way. But governments need to ensure that, as cash is phased out, the vulnerable in society aren’t left behind. They need to navigate carefully the many pitfalls that a digital economy will bring.
    For more from Economist Films visit: films.economist.com/
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Komentáře • 2,1K

  • @Real-1
    @Real-1 Před 4 lety +704

    A cashless society means losing privacy, your spending history will belong to the government.

    • @albertthedogeinstein7983
      @albertthedogeinstein7983 Před 3 lety +21

      @Los Angeles Man you wont have a choice. That means you cant buy something from me and I cant buy anything from you.

    • @albertthedogeinstein7983
      @albertthedogeinstein7983 Před 3 lety +4

      @Los Angeles Man how do you think that would work?

    • @mikelovettgotit
      @mikelovettgotit Před 3 lety +13

      And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
      17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

    • @marcosjimenez7046
      @marcosjimenez7046 Před 3 lety +2

      Yup unfortunately that's where we are headed

    • @workwithearl
      @workwithearl Před 3 lety +5

      CBDC centralized bank digital currency, is already being tested worldwide at all central banks. Expect this to be in place within 9 months. All cash will have a grace period to be turned in and converted into Digital. After grace period , cash will be considered non fungible.

  • @Letsallparty2
    @Letsallparty2 Před 4 lety +1211

    Please resist this! It will not be pretty! Cash gives us individual freedom.

    • @salahuddina3344
      @salahuddina3344 Před 4 lety +63

      Letsallparty2 trust me I’m ready to starve and struggle but won’t give into this fraud

    • @user-de3jk8kj3h
      @user-de3jk8kj3h Před 4 lety +15

      @@salahuddina3344 facts stay woke

    • @salahuddina3344
      @salahuddina3344 Před 4 lety +56

      yarppp Lord been woke! I have no mortgage, no loans, no debts no car and never had a contract phone and no social media! Live a simple life you will be happy

    • @user-de3jk8kj3h
      @user-de3jk8kj3h Před 4 lety +5

      @@salahuddina3344 facts

    • @BillyReedMusic
      @BillyReedMusic Před 4 lety +4

      I agree!

  • @annasimon115
    @annasimon115 Před 4 lety +1213

    I must be ahead of the times, I’m already cashless. I have literally £1.25 in my account

    • @tripleh902
      @tripleh902 Před 4 lety +8

      Oh my God I believe you🤯😮‼️⁉️❕
      NOT YA FOOL 😂😑

    • @01_v
      @01_v Před 4 lety +19

      nah I have like $0.01 in my paypal

    • @highandmightyqueen79
      @highandmightyqueen79 Před 4 lety +2

      lol

    • @bentley2495
      @bentley2495 Před 4 lety +1

      How does the digital $ figure in your account mean you're cashless? Most money launderers, drug traffickers don't put money in their bank accounts either. Yet they're most definitely cash-full. Bad "joke".

    • @34thstreetman
      @34thstreetman Před 4 lety +19

      The economist is the puppet of the elite.

  • @FvZz1623
    @FvZz1623 Před 4 lety +492

    It means you're giving up your freedom.

    • @shadooow2370
      @shadooow2370 Před 4 lety +8

      @Szilárd Maku Freedom is when you can do whatever you want when you want.

    • @chrismccartney2780
      @chrismccartney2780 Před 4 lety +11

      Nobody is truly free anyway

    • @Zoza15
      @Zoza15 Před 4 lety +4

      @@shadooow2370 But nobody can't do whatever they want since laws are applied, so where's the freedom?.
      How do we define Freedom?.
      You know what ultimate freedom is?, being stuck on a island alone and nobody knows who you are and what you were or care about you.
      That's true freedom at a ultimate cost..

    • @francescazandara2488
      @francescazandara2488 Před 3 lety +4

      Never and never! I want cash 4ever

    • @niles1492
      @niles1492 Před 3 lety +3

      it's not going anywhere anytime soon, you may be long dead before it happens. But just know the autonomy that cash gives, people has and always will take advantage of that, as well

  • @danchase7454
    @danchase7454 Před 4 lety +921

    Offend the wrong people and suddenly master card will refuse to allow you to use your digital money.

    • @CityLifeinAmerica
      @CityLifeinAmerica Před 4 lety +3

      Fake news.

    • @Rocket_Man.
      @Rocket_Man. Před 4 lety +8

      whyareyoureadingthisyouarenotmeanttoreadthis
      Ok... what’s your address⁉️

    • @chibchan3765
      @chibchan3765 Před 4 lety +1

      My mastercard is connected to my digital money

    • @ArmandTRobotson
      @ArmandTRobotson Před 4 lety +19

      Humans will become slaves to the Visa MasterCard mafia...

    • @feliperabeloep
      @feliperabeloep Před 4 lety +2

      Bitcoin network won't do that :)

  • @mohacs1000
    @mohacs1000 Před 4 lety +448

    A government being aware of the nature of every financial transaction is a great way to destroy basic privacy.

    • @murk1876
      @murk1876 Před 4 lety +9

      @mrbobbilly how is big brother being in our business good

    • @aerojetrocketdyners-2538
      @aerojetrocketdyners-2538 Před 4 lety +28

      @mrbobbilly not caring about privacy is the same as saying you dont need freedom of speech because you have nothing to say

    • @jordanabeaulieu2530
      @jordanabeaulieu2530 Před 3 lety +4

      I was quite happy without having a credit card but some places like hotels, car rental places don't accept anything else so I had no choice 😒

    • @i_wouldprefer_not_to1196
      @i_wouldprefer_not_to1196 Před rokem

      What if you need to pay a really small amount? Seems daft to not use change. That’s before you even consider the government control side of this!

    • @DisHappah
      @DisHappah Před 3 měsíci +1

      @@murk1876 The Canadian government froze Canadians' accounts just for protesting its government. Let that sink in.

  • @Eusantdac
    @Eusantdac Před 4 lety +237

    No thank You. I like cash. Leaves no trace. I need no electricity to use it and most of all, I can feel it. It's real, it's in my hand, not just some numbers on a screen.

  • @jasongood5499
    @jasongood5499 Před 4 lety +154

    Don't do it, I used cash and coins everyday to avoid credit card fees. Also I spend less with cash

    • @goosesteppa7642
      @goosesteppa7642 Před 4 lety +2

      The Liberal Goverment can't remove legal tender, because it's a government law.

    • @CloseTheDoorItsSnowingOutside
      @CloseTheDoorItsSnowingOutside Před 4 lety +10

      @@goosesteppa7642 until it isn't

    • @jasongood5499
      @jasongood5499 Před 3 lety +3

      @Lisa Boulier you can always go back to bartering or trading for goods and services. It really works out in country not so much in a city though.

    • @airishviscara2326
      @airishviscara2326 Před 3 lety +8

      Digital cash would mean extra charge and less privacy.

    • @jasongood5499
      @jasongood5499 Před 3 lety +9

      @@airishviscara2326 Big Brother wants more Control over our financial transactions. I cannot believe the average person is accepting this to happen. Call up your elected Representative.

  • @chrisrose4769
    @chrisrose4769 Před 4 lety +338

    This would mean complete government control

    • @dravinmahajan8436
      @dravinmahajan8436 Před 3 lety +9

      But it will solve the problem of :
      1. Tax evasion
      2. Money laundering
      3. Terror funding
      4. ease of doing business
      And many more

    • @dravinmahajan8436
      @dravinmahajan8436 Před 3 lety +7

      @mike yes I understand now..😊👍👍

    • @nicklaaflare1907
      @nicklaaflare1907 Před 3 lety +12

      The homeless will not survive

    • @x00p3
      @x00p3 Před 3 lety +13

      @@dravinmahajan8436 My nephew needed some money so I offered him $50 for some yard work. If the IRS and state government knew about it he'd have to fill out forms and pay taxes on it. Ridiculous.

    • @sleeexs
      @sleeexs Před 3 lety +1

      @@dravinmahajan8436 it wont

  • @konigstiger3252
    @konigstiger3252 Před 4 lety +339

    No. I don’t want the government to know where I am spending my $$$

    • @alekskrstic1024
      @alekskrstic1024 Před 4 lety +7

      no one asked you it will happen and soon you will be under full controll

    • @CursosEmStreaming
      @CursosEmStreaming Před 4 lety +22

      They already know

    • @junos4242
      @junos4242 Před 4 lety +8

      @@alekskrstic1024 Yes...Mark of the Beast will come soon...

    • @narcelinaguzman3512
      @narcelinaguzman3512 Před 4 lety +5

      Learn to survive without money. If love Jesus Christ

    • @pacman7959
      @pacman7959 Před 3 lety +4

      @@narcelinaguzman3512 have you?

  • @mikefredrick3917
    @mikefredrick3917 Před 3 lety +41

    Without cash it will be easy to disconnect anybody from the system. Just block or suspend your account and you won't be able to even buy food. Another method of control

    • @Iknowthelaw13
      @Iknowthelaw13 Před 2 lety +4

      Just like the blockchain on crypto. Then those fools will have the rug pulled out from under them.

  • @ironman2326
    @ironman2326 Před 4 lety +67

    I'm young and I demand to use cash!

  • @kurjan1
    @kurjan1 Před 4 lety +122

    The removal of a secure, private means of transacting value between two individuals is pure Orwellian evil.

    • @delasantos
      @delasantos Před 4 lety +8

      KurJan&Urbano this is an absolutely insightful comment. Please let this be known.

    • @zzFishstick
      @zzFishstick Před 4 lety

      CRYPTO.

    • @codenamebeats
      @codenamebeats Před 4 lety +8

      Crypto is not a solution if we talk about the possible danger of cash being removed from society. Why even think about removing cash? What's the agenda behind it? It makes 0 sense for 99% of society.

    • @zzFishstick
      @zzFishstick Před 4 lety +1

      @@codenamebeats Have you even watched the video mate? They literally explained that cash costs 0.5% of national GDP. It does make plenty of sense for 99% of society.

    • @codenamebeats
      @codenamebeats Před 4 lety +4

      @@zzFishstick that's a ridiculously stupid argument. 0,5% even if true is nothing compared to the waste of trillions of money in government. And not even remotely close to a reason to move torwards elimination of cash.

  • @kehbab
    @kehbab Před 4 lety +142

    Convenience does not outweigh the negative parts in a cash free world

  • @stevewildeagle965
    @stevewildeagle965 Před 4 lety +95

    We've used Cash for over 5000 years, and before then used a barter/trade system, as far back as 40.000 years.
    Humanity has and will always need something tangible, to be used as either cash or Barter.
    The Government's are foolish to believe, that a cashless system would last for Decades or more.

    • @solardata5765
      @solardata5765 Před 3 lety +2

      China has been using it for more than a decade. I went there and I dont see a loss in freedom. I still can do whatever i want. even VPN for Netflix. I feel like I was in the future.

    • @jasminmirkovic354
      @jasminmirkovic354 Před 3 lety +18

      @@solardata5765 if china is ur gold standard i feel sorry for u. The west should never follow communist regime -_-

    • @poochie81
      @poochie81 Před 3 lety

      @@solardata5765 China isn't cashless.

    • @solardata5765
      @solardata5765 Před 3 lety

      @@poochie81 i know

    • @Mrgreen2558
      @Mrgreen2558 Před rokem

      No people use Gold and silver for centuries not cash .

  • @lisaschuster9187
    @lisaschuster9187 Před 3 lety +94

    Let’s all make a point by paying with cash whenever humanly possible.

    • @oliverm1255
      @oliverm1255 Před 3 lety +1

      Why?

    • @oliverm1255
      @oliverm1255 Před 3 lety

      @The Merc sorry but what is an absolutist

    • @andreaam805
      @andreaam805 Před 3 lety

      No thanks 😂

    • @sleeexs
      @sleeexs Před 3 lety

      Yeah.

    • @desvasta9906
      @desvasta9906 Před rokem +1

      I agree and let the banks eat their cards. This is why they gave out cards so people can put themselves in debt. Oh do that prayer. " Do not lead me to temptation but deliver me from evil."

  • @pieinsky3142
    @pieinsky3142 Před 4 lety +357

    I think it is rather subversive to suggest that a cashless society is inevitable, as if telling us to accept it as fact. There will be strong resistance.

    • @alaskangirl7475
      @alaskangirl7475 Před 4 lety +3

      Oh yes!

    • @devonrusinek5807
      @devonrusinek5807 Před 4 lety +4

      Competing financial systems may become a reality once we figure out a way to ensure a fool-proof way to prevent nuclear annihilation, and we can usher in the era of corporation PMCs.

    • @boingboing919
      @boingboing919 Před 4 lety +1

      Maybe cash will rebound and reinvent itself?

    • @pieinsky3142
      @pieinsky3142 Před 4 lety +22

      @mrbobbilly you miss the point, it is about the choice to use the banking system or not. Once cash is no longer available, that's it, you are 100% reliant upon banks. If they go broke, so do you. If the government wants to freeze or confiscate your money, it is all to easy for them to do so. People might accept a cashless society today because everything works, and we have relatively stable economic and political conditions, but that can change very quickly. It's a bit like having an umbrella, it might be a hassle to carry it around, but it will keep you dry when it rains.

    • @jeffgreen3376
      @jeffgreen3376 Před 4 lety +25

      The resistance will only be from us older people. The younger generation will love it, because they've already been brainwashed into giving up their privacy in exchange for convenience.

  • @andremp03
    @andremp03 Před 4 lety +474

    I love the convenience of cashless, but I'd be uncomfortable with a cashless society - it's a can of worms.

    • @Slippery413
      @Slippery413 Před 4 lety +18

      You won't love it when they force everyone to put the chip in you, to buy food or anything in order to survive. They will track your every movement and have complete control.

    • @triciab612
      @triciab612 Před 4 lety +2

      Monk _Nyc Exactly😳‼️

    • @philiprhodes5537
      @philiprhodes5537 Před 4 lety +5

      Monk _Nyc your not wrong either the chip will be the next step in controlling society and your life will be monitored 24/7 ..sad thing is people are walking into their own demise and dont yet see it at least animals going to slaughter try to back up and not go there coz they are intelligent enogh to sense they are going to die but humans on the other hand seem to like being controlled to their death

    • @doloresdelacruz6832
      @doloresdelacruz6832 Před 4 lety +1

      Aware?written in book of revelation 13:16-17.

    • @joeking1019
      @joeking1019 Před 4 lety +2

      you won't love it when it's all that's available.

  • @eddieguerrero8106
    @eddieguerrero8106 Před 4 lety +29

    Cash 💰 is freedom.

    • @goosesteppa7642
      @goosesteppa7642 Před 4 lety

      It is also legal tender. A law the goverments made.

  • @gregb6469
    @gregb6469 Před 4 lety +81

    A cashless system will give the government/corporate/big bank complex even more control over people. It must be resisted. I pay with cash every time I can, and I strongly urge everyone else to do the same.

    • @desvasta9906
      @desvasta9906 Před rokem

      Pray the republicans win because the democrats are rats they are into the marxism not real democracy, its a disguise. All my life I was a democrat but not a demorat I am conservative

    • @alonenjersey
      @alonenjersey Před 8 měsíci

      I agree. Like the rest of the human race I've been using to make payments nearly my whole life. And it's never let me down. If it isn't broken, do not fix it.

    • @BlackFreewaymusic
      @BlackFreewaymusic Před 6 měsíci

      Unfortunately it would simply be postponing the inevitable.

    • @TheShadowOfInnocence
      @TheShadowOfInnocence Před 4 měsíci

      @@BlackFreewaymusicStill better than nothing.

  • @Magoulan
    @Magoulan Před 4 lety +183

    It means hiding a debt crisis by holding all the money in the system.

    • @oldmoneylifestyle77
      @oldmoneylifestyle77 Před 4 lety +4

      You have a point! I didn't think about that!

    • @jeffgreen3376
      @jeffgreen3376 Před 4 lety +1

      Yep. That's why they're going to do it.

    • @traderpapertiga
      @traderpapertiga Před 4 lety +5

      Hence the cry out for “alternative systems”
      I think I’ll buy a farm (unless they freeze my card) 😂

    • @miragepeter8412
      @miragepeter8412 Před 4 lety

      Magoo Gouzoo
      Perfect way to phrase it.

    • @drek273
      @drek273 Před 4 lety +5

      And the corona virus is the perfect excuse

  • @captainmakai
    @captainmakai Před 4 lety +474

    Physical cash should be a human right to use.

    • @Liberty_Freedom_Brotherhood
      @Liberty_Freedom_Brotherhood Před 4 lety +5

      Polarised Society agrees

    • @michaelyenny7012
      @michaelyenny7012 Před 4 lety +3

      Yes.

    • @Azknowledgethirsty
      @Azknowledgethirsty Před 4 lety +1

      But most of us won't, it's cumbersome...

    • @vivekjk6729
      @vivekjk6729 Před 4 lety +14

      Physical cash has more demerits than digital cash. No more pickpockets, no more armed robbery, no more loose change, faster transactions and more importantly convenience.

    • @davidgruen7423
      @davidgruen7423 Před 4 lety

      Polarised Society you can create your own as long as the other party recognize it.

  • @Autigers2013
    @Autigers2013 Před 2 lety +22

    The rush to get rid of cash is complete control!!!

  • @curiosityoverload5374
    @curiosityoverload5374 Před 4 lety +65

    Any person offending a big shot will end up "BANKRUPT".
    This is dangerous.

  • @TodaTruth
    @TodaTruth Před 4 lety +297

    💵 cash is a form of freedom

    • @NativeVsColonial
      @NativeVsColonial Před 4 lety +3

      And black money and corruption :)

    • @mrxrp4306
      @mrxrp4306 Před 4 lety +12

      @@NativeVsColonial corruption how about the tax office that robbes every little person and middle class and takes everything you own especially when the tax office isn't part of the government it's a private organisation called the federal reserve

    • @Heartandspirit77
      @Heartandspirit77 Před 4 lety

      Very Very wise words

    • @BillyReedMusic
      @BillyReedMusic Před 4 lety +1

      Yes!

  • @Henri_Ikari
    @Henri_Ikari Před 4 lety +234

    Cashless society:
    Hackers: Allow us to introduce ourselves...

    • @weilee3848
      @weilee3848 Před 4 lety +5

      Me: no intro necessary we've already met

    • @rudyklassen8607
      @rudyklassen8607 Před 4 lety +8

      Yes never have and never will trust internet banking.

    • @waynebow-gu7wr
      @waynebow-gu7wr Před 4 lety +5

      The hackers will probably be the banks if there's profit in it.

    • @alekskrstic1024
      @alekskrstic1024 Před 4 lety +2

      quantum procesors: alow us to introduce ourselves

  • @lindsaythebe231
    @lindsaythebe231 Před 4 lety +26

    i'm so proud of this comment section!

  • @only_fair23
    @only_fair23 Před 4 lety +50

    We need a black mirror episode on this.

  • @GreaterJan
    @GreaterJan Před 4 lety +155

    This isn't inevitable. Some countries like my native Germany are resisting!

    • @Azknowledgethirsty
      @Azknowledgethirsty Před 4 lety +5

      Yeah, apathy and the new generation will demand it, instead of ignoring the problem like Germany we should make digital currency 100% secure, like bitcoin but for countries

    • @codenamebeats
      @codenamebeats Před 4 lety +6

      @@Azknowledgethirsty you should be thankful strong hackers still exist. If you believe money will be 100% secure without physically existing in any form you will always have to trust and believe the ones controlling the system.

    • @Azknowledgethirsty
      @Azknowledgethirsty Před 4 lety

      @@codenamebeats what if it's decentralized like bitcoin, the only way to mess with it is to have one nation / person / entity control 50+% of it which is impossible

    • @feenitacharles905
      @feenitacharles905 Před 4 lety +2

      Inevitable.. maybe after we solve world poverty. Every part of world should have access to electricity which btw is not a basic necessity. So yea, it might take centuries and also ppl might move to using gold or silver coins.

    • @familysoundschannel2895
      @familysoundschannel2895 Před 4 lety

      IT SHOULD BE AVOIDED

  • @JJs_playground
    @JJs_playground Před 4 lety +84

    What happens if the electricity goes out, even for just a few days?

    • @meninnavy
      @meninnavy Před 4 lety

      Jameel Ja do you charge your phone at work?

    • @JJs_playground
      @JJs_playground Před 4 lety

      @@meninnavy yes I do

    • @steelrose7342
      @steelrose7342 Před 4 lety +7

      All people go crazy. The businesses take advantage raising up prices. I experienced that after hurricane Maria.

    • @steelrose7342
      @steelrose7342 Před 4 lety +4

      Also you can withdraw for you bank account whatever amount you want or have. They were controlling how much you can withdraw.

    • @taradiez5684
      @taradiez5684 Před 4 lety +3

      It's going to be a chip implanted in your hand

  • @pillarnexustheancientgladiator

    To take physical currency from me, someone has to be at my exact location in the real world.
    To take my online account, anyone with the skills or the institution with the access can do it from anywhere that's connected.
    When the finances of all citizens are accessible online, someone will wipe out everything, and there'll be nothing to fall back on.
    Those are my fears.

    • @Whaddayamean13
      @Whaddayamean13 Před rokem

      Yes. If you want to take my cash, you'll have to take it out of my hands. People don't live in the real world anymore. Bunch of retards.

  • @mariannypineda3224
    @mariannypineda3224 Před 4 lety +19

    Cashless society scares me. I was born in 1992, I hope when I grow really old, I'm still very up to date with the technology.

    • @goosesteppa7642
      @goosesteppa7642 Před 4 lety +1

      Just never vote for the dictating Liberals then.

    • @desvasta9906
      @desvasta9906 Před rokem

      I am in my 50's so in 3-4 decades where the peace period will be over, I should be in my 80's or 90's or maybe even gone, but I feel bad for the kids left behind. I don't have kids to worry about so I pray for my parents and siblings and the rest of my family to be forgiven and find peace so we can meet on the other side but pray for the rest who are lost and unbelievers!!

  • @jorgegomez524
    @jorgegomez524 Před 4 lety +90

    the point is who controls it. cashless society is a powerless society

    • @JT_India
      @JT_India Před 4 lety +4

      There is nothing one could do about it. It started with introduction of paper money , corrupted pound of sterlings by the British royals , and finally by delinking currency from Gold reserves.
      But money is not just Gold or notes.
      Its a mix of sentiments.
      And so dont worry too much.

    • @michaelyenny7012
      @michaelyenny7012 Před 4 lety

      Yes.

    • @Bryanbkk
      @Bryanbkk Před 4 lety +2

      Nope. This is the importance of the rise of Bitcoin.

    • @ihatealgebra2431
      @ihatealgebra2431 Před 4 lety +1

      You know internet, no one controls it.

    • @narcelinaguzman3512
      @narcelinaguzman3512 Před 4 lety

      Satan controlled it

  • @sirebica
    @sirebica Před 4 lety +403

    It means that we will be prisoners of banks and money never will be our

    • @fortheewinyeah3435
      @fortheewinyeah3435 Před 4 lety +9

      Only gonna get worst, it’s gonna be a lot of blood shed that’s why its gonna be war

    • @xm3405
      @xm3405 Před 4 lety +8

      Same banks who crashed the world's economy in 2008 destroying millions of lives.

    • @alextran1434
      @alextran1434 Před 4 lety +6

      except if we use decentralised cryptocurrency

    • @bluechip17
      @bluechip17 Před 4 lety +3

      Money is already gone what we use now is called Fiat currency.

    • @derylhenriquez2962
      @derylhenriquez2962 Před 4 lety +2

      They want to control us.

  • @donnahubbard9085
    @donnahubbard9085 Před 4 lety +19

    No thanks stay with currency, will be easy for more corruption and banks are corrupt

  • @graceka7286
    @graceka7286 Před 4 lety +46

    Germany could never😂 we just love cash

    • @michaelochido3244
      @michaelochido3244 Před 4 lety +6

      From Kenya... we are also moving to cashless especially through the renowned mpesa app but we still value a little cash in our wallets,pockets.....

    • @matthewt.8785
      @matthewt.8785 Před 4 lety

      @@michaelochido3244 (i'm from Kenya too) even the commercials on tv discourage the use of cash to avoid the spread of 'covid 19'

  • @ruzzelladrian907
    @ruzzelladrian907 Před 4 lety +22

    I embrace technology and cashless transaction, but I prefer physical money to avoid bureaucratic taxes and be able to do anonymous purchases off the books. Because in a hypothetical future where government can take away our money or ban us to purchase, earn, and receive money just because we have different a political opinion, digital money is controlled by the government. They make it. They can take it.

  • @sassysasquatch2722
    @sassysasquatch2722 Před 4 lety +71

    Sounds like a disaster just waiting to happen. Kiss your privacy goodbye

  • @kevinc3236
    @kevinc3236 Před 4 lety +198

    The bible been preaching this message for more than 2000 years already

    • @matthewgrant2785
      @matthewgrant2785 Před 4 lety +12

      More fiction from a fiction filled book

    • @jacobstaton99
      @jacobstaton99 Před 4 lety +36

      matthew grant wake up and look around you, it’s impossible you’re still so ignorant

    • @ziannaodogwu8440
      @ziannaodogwu8440 Před 3 lety +2

      @Los Angeles Man Most certainly has.

    • @ms.zelman3032
      @ms.zelman3032 Před 3 lety +3

      @@matthewgrant2785 lease look around you everything we see is pointing to a cashless system

    • @matthewgrant2785
      @matthewgrant2785 Před 3 lety +5

      @@jacobstaton99 Christianity is the epitome of ignorance

  • @alexismiller288
    @alexismiller288 Před 4 lety +28

    I'd be fine with it if there was an economical Bill of Rights. But as of now, any bank or card network can just randomly decide to cut you off if you commit wrongthink. That's not okay, and it'll need to be fixed if we want to move forward.

    • @jamescarter8699
      @jamescarter8699 Před 2 lety

      In an Authoritarian Corporate ruled nation the only rights are what those in charge tell you, you have. And what is written means absolutely ZERO, ZILCH, NOTHING "0" NADAH.

    • @Mechjeb661
      @Mechjeb661 Před rokem +3

      A bill of rights mean nothing if armed citizens do not fight to protect it. Think of the adage, "all bark and no bite".

  • @robertcunningham3976
    @robertcunningham3976 Před 4 lety +74

    I will absolutely go out of my way for my money to be out of the banking system and in my hands....parasites.

    • @logpost2950
      @logpost2950 Před 4 lety +3

      Robert Cunningham but the problems being narrated by French accented man are of banks problems?
      There should be an institution to look after money. Why money was created at first place? Will that purpose be served? Where is its value? Are they controlling us using some papers?
      Revolt against banks, through owners of banks. Fuzzy

    • @bishboshs
      @bishboshs Před 4 lety

      I'm sure you're happy to take a mortgage though?

    • @carlgois8579
      @carlgois8579 Před 4 lety

      You don’t get it. It’s like going to Cuba. They use a CUC. It has an exchange with all or almost all currencies. However, you can’t take CUC to Canada, USA, or anywhere for that mater and exchange it to another currency. Adopted strictly for tourism because of the useless Cuban Peso. With this covid-19 situation right now and the state of every country’s piles, better take that money now, hold on to it, and make a wise decision when you can. You don’t want to be that unfortunate person with money that’s useless or has no tender. ✌️

    • @deewillis2409
      @deewillis2409 Před 4 lety

      Don't you realize that your money you hold onto will be worthless????? Robert?

    • @carlgois8579
      @carlgois8579 Před 4 lety

      I’m not Robert

  • @jho4832
    @jho4832 Před 4 lety +316

    It’s already a reality in China.

    • @jamesdevassy9920
      @jamesdevassy9920 Před 4 lety +1

      cities only••

    • @willwasabi
      @willwasabi Před 4 lety +20

      James Devassy No actually. Basically everyone with smartphones can do it, and the sellers don’t have to have pos machine nor even a phone, but with a QR code

    • @fengzhang3215
      @fengzhang3215 Před 4 lety +7

      @@jamesdevassy9920 everywhere, including subway, bus, etc with almost zero cost. Cash is not prefered in many shops.

    • @jiayangliu
      @jiayangliu Před 4 lety

      Jay H True

    • @lucasl3784
      @lucasl3784 Před 4 lety +4

      Already including rural areas actually...

  • @waynebow-gu7wr
    @waynebow-gu7wr Před 4 lety +11

    So a camera says your speeding, the money comes straight out of your bank account... and you will probably know nothing about it unless you check your bank statements daily.

  • @kellymckinney3168
    @kellymckinney3168 Před 3 lety +9

    There's almost no more privacy in the world today

  • @fms6306
    @fms6306 Před 4 lety +133

    Revelations 13 v 16 - 17: "And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
    17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."

    • @jgdooley2003
      @jgdooley2003 Před 4 lety +5

      I think the Irish Telephone Service must have a sense of humour because the prefix to all police telephone numbers is 666, the number of the BEAST. For example Lucan Police is 6667300.

    • @joeking1019
      @joeking1019 Před 4 lety +8

      @@jgdooley2003 All phone services will be run at 5g, a further entrapment. These 'companies' are pure filth

    • @luannequiles5791
      @luannequiles5791 Před 3 lety +1

      F MS or or or

    • @l.a.mottern3106
      @l.a.mottern3106 Před 3 lety +2

      A scary proposition indeed.

    • @airishviscara2326
      @airishviscara2326 Před 3 lety +1

      @@jgdooley2003 scary

  • @auro1986
    @auro1986 Před 4 lety +22

    it means great depression, open-air crime and vandalism

  • @dcarbs2979
    @dcarbs2979 Před 4 lety +12

    A visit to my bank today tells you all you need to know: 3 empty self service terminals that the bank is trying to force onto you. Queue out the door for the one teller cashier.

    • @johnmuthan286
      @johnmuthan286 Před 4 lety

      Not even any teller cashier in my city with 6 Banks and each with their atm empty

    • @dcarbs2979
      @dcarbs2979 Před 4 lety

      @@johnmuthan286 Lucky you. We don't even *have* a bank in our town. My bank is in the next one!

  • @logs
    @logs Před 4 lety +16

    Hard cash will never disappear

    • @allyb6866
      @allyb6866 Před 3 lety +2

      But they will be worthless...

    • @allyb6866
      @allyb6866 Před 2 lety

      @Screaming Soldier never say never. Just look what is happening now with the government trying their best to make everything card and now wanting us to have the chip like other countries. It’s not on main media but do your own research. They don’t allow everything to go on main media.

  • @timurermolenko2013
    @timurermolenko2013 Před 4 lety +10

    In the past, money was represented by real Precious Metals. It had an absolute value in any country. Then it was substituted with paper which has no value. So now even having cash looks like a huge degree of freedom.

  • @ileorai9224
    @ileorai9224 Před 4 lety +12

    We need mutiply ways of payment, and cash is one of that.

  • @philby1
    @philby1 Před 4 lety +12

    We need to keep cash more than ever. one of the few freedoms we have left. when that's gone they have total control over you. Use cash as much as you can people.

    • @desvasta9906
      @desvasta9906 Před rokem +1

      Its cheaper too, when you order food, use cash because they charge too much for delivery or tax, but if you call the restaurant directly they will do it and it helps them too, Just wish some would deliver to our address. this is the problem

  • @jeffreyrodriguez1913
    @jeffreyrodriguez1913 Před 4 lety +18

    I always knew money was worthless....and now its gonna be even more worthless🤦‍♂️.

  • @JonesJr876
    @JonesJr876 Před 4 lety +32

    This video is very lacking. It speaks on information known for over 3-5 years. I was expecting to hear what role central banks will play in the future, and the costs of using physical cash compared to the costs of protecting digital currencies. So much new ideas to be discussed yet missed.

  • @Flipfinder_uk
    @Flipfinder_uk Před 4 lety +9

    I hope people have the balls to rebel against this

  • @penpen6677
    @penpen6677 Před 4 lety +6

    I prefer cash. Comes in handy when debit/ credit is down ( which I rarely use ).
    Thats another danger of going cashless. Stores wont be able to be open for business if their only payment system is down. They will lose profits
    I know some stores are already cashless , but they are alienating customers.
    I dont go anywhere that doesnt accept cash.
    Everyone should have that right to choose how they pay.
    Im ok with some stores not allowing cash...as long as there is cash option elsewhere.
    We should always have the choice.

  • @AreYouStanley
    @AreYouStanley Před 4 lety +32

    "But privacy is the main conce...."
    _Blockchain has entered the chat!_

    • @MubashirullahD
      @MubashirullahD Před 4 lety +1

      You can tell identity in Bitcoin blockchain. It is difficult not impossible

    • @footage6402
      @footage6402 Před 4 lety +3

      Bitcoin and other crypto currencies still require KYC laws and ID verification for any Cards or atm withdrawals. So it's still maintained by the government to use it anywhere other than on the web.

    • @captainplanet1260
      @captainplanet1260 Před 2 lety

      Blockchain IS the cashless society

  • @cameronsiebs
    @cameronsiebs Před 4 lety +5

    Let's not forget if there's no cash and interest rates go negative, we'll have nowhere to hide. The premises of this would be to be able to force people to spend their money or lose it.

  • @stac123100
    @stac123100 Před 4 lety +7

    Its already been foretold, you dont know what generation we are in ?
    This is wicked

  • @cherylwulfers9796
    @cherylwulfers9796 Před 3 lety +2

    It becomes easier to have your funds frozen by anyone who can gain access to your information. From criminals to government agencies.

  • @vanessab3391
    @vanessab3391 Před 2 lety +3

    You all know all the money you have in your bank account is being used daily, for bank loans, etc. Why do you think you get charge a monthly fee when you have less than a certain amount? At least that's how it is at my bank.

  • @ibziahmed9750
    @ibziahmed9750 Před 4 lety +19

    Cashless = slavery

  • @sandravictor3857
    @sandravictor3857 Před 4 lety +7

    Cash is King no cards, or chips for me. Mark of beast.

  • @thomasaquinas5262
    @thomasaquinas5262 Před 3 lety +2

    We are close to a cashless society now. It will have a series of benefits, but one hidden problem is the power and tech concern. In a power failure, storm conditions, internet downtime, etc., with nothing to trade, how do we buy anything??

    • @desvasta9906
      @desvasta9906 Před rokem

      We still have time, they had said way before the cashless society they would make a global bank so we don't have to worry about losing from exchanges and if you bank with lets say Citi bank, you can still do the same transactions with any Citibank in the world so you don't have to deal with not being able to pay your bills from abroad.

  • @williamwilson6499
    @williamwilson6499 Před 4 lety +13

    ‘If you want a picture of the future, imagine a boot stamping on a human face -- for ever.'

  • @Kelly-oe8kr
    @Kelly-oe8kr Před 4 lety +4

    A cashless society allows banks to charge whatever fees they like, what other option do you have!

    • @tinacollier1447
      @tinacollier1447 Před 3 lety

      Exactly and the use of debit cards are going to skyrocket. When they first tricked people into cards it was almost free. Now its fees,fees,and more fees. You'll be broke just from the fees.

  • @matildamaher2650
    @matildamaher2650 Před 3 lety +5

    I purchase most of my items with cash, I use my debit card just to take my salary out and leave the rest only for direct debit for bills

  • @jamesjohnson1205
    @jamesjohnson1205 Před 4 lety +2

    Your funds can be taken while you sleep. No way to control your account.

  • @thomashydfors2748
    @thomashydfors2748 Před 4 lety +2

    I haven’t used cash for a couple of years in Sweden. Do not miss it at all. In fact I think it’s a step backwards when I go a broad and have to use real money!

  • @jofbeats11
    @jofbeats11 Před rokem +7

    I don't think cash will be completely obsolete. That's because alot of people including low level citizens, old fashions, and homeless use cash still. Along with the fact scams and hackers can attack ur account and bankruptcy. I think cash will still be around in the future.

    • @sri-6374
      @sri-6374 Před rokem +1

      I think the same too
      Sry for my horrible english 😅

    • @jofbeats11
      @jofbeats11 Před rokem +1

      @@sri-6374 it's ok dude thank you for you're comment I appreciate it😎

  • @TL-fe9si
    @TL-fe9si Před 4 lety +13

    beggars in Shanghai carry their own QR code....

  • @benjaminturner54
    @benjaminturner54 Před 4 lety +3

    Bet you didn’t think they’d use a virus to ban cash .

    • @goosesteppa7642
      @goosesteppa7642 Před 4 lety

      Bet we don't know the goverments will use Nuclear weapons on the unarmed.

  • @is1dre
    @is1dre Před 4 lety +3

    What happens when the power goes out?

  • @binhan6432
    @binhan6432 Před 4 lety +5

    As someone in China this is like you clicked on a video from 5 years ago.

  • @brianmorrison9066
    @brianmorrison9066 Před 4 lety +5

    What's the rush to get rid of cash?
    Control!
    They will be able to control you, monitor you and cut you off if you cause a issue.

  • @lillianwalker2859
    @lillianwalker2859 Před 3 lety

    I appreciate the information ℹ️ !

  • @inthefight
    @inthefight Před 4 lety +27

    No one has ever hacked my wallet.

    • @Stinkmeaner420
      @Stinkmeaner420 Před 3 lety +7

      But someone could steal it

    • @sunniertimer598
      @sunniertimer598 Před 3 lety +8

      @@Stinkmeaner420 At least that comes with a fighting chance.

    • @andreaam805
      @andreaam805 Před 3 lety +1

      But someone could steal it or you could lose it and unlike digital money you can’t just avoid people from using your money.

    • @inthefight
      @inthefight Před 3 lety

      @@andreaam805 i cant wait for the days when we go back to bartering chickens. MARANATHA!

  • @Luis-rc4pq
    @Luis-rc4pq Před 4 lety +16

    yeah, I get it but the government should do something about coins... no one wants them and they probably cost more to make than what they are worth.

    • @tsubakoyumi194
      @tsubakoyumi194 Před 4 lety +2

      Coins are way more resistant than bills. They don't tear or crumple, don't get destroyed if you forget to take out of the pocket when you wash your clothes and have a better price to make vs durability ratio

  • @YahushaDollie
    @YahushaDollie Před 4 lety +24

    Mark of the beast is coming, new world order coming!

  • @alwaysworking4god298
    @alwaysworking4god298 Před 4 lety +6

    Revelation 13:14‭-‬17
    "And deceiveth them that dwell on the earth by the means of those miracles which he had power to do in the sight of the beast; saying to them that dwell on the earth, that they should make an image to the beast, which had the wound by a sword, and did live. And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed. And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."

  • @SugaLuv2
    @SugaLuv2 Před 4 lety +6

    Videos such as this make me want 2 use cash more, not less.

  • @Dan-vz7xu
    @Dan-vz7xu Před 4 lety +3

    I only have a bank account because it's the only way I can get payed or pay may bills. Any extra money I have I immediately take out and store as silver.

  • @marbleslab1191
    @marbleslab1191 Před 4 lety +5

    Listen to this fun happy music they play in the background as they try to get people on board with the beast's kingdom, makes me absolutely sick.

  • @ariseon4186
    @ariseon4186 Před 4 lety +2

    It’s become easy to control people!

  • @viking670
    @viking670 Před 4 lety +2

    Its rather ironic that ``the economist`` a magazine owned and run by Rothschild is showing the repercussions of going cashless which is what elites like the Rothschild's have wanted all along.

    • @weilee3848
      @weilee3848 Před 4 lety

      Trying to get us use to the ideal and let us know it's coming whether we like it or not.

  • @salem5665
    @salem5665 Před 4 lety +4

    the less friction upon spending, the more you'll find yourself enslave to debt.

  • @WOLFROY47
    @WOLFROY47 Před 4 lety +6

    money will end or humanity WILL END plus 80% of all life on earth, one of these things is inevitable

  • @MissMakea
    @MissMakea Před 4 lety +1

    I live in the Netherlands and haven’t used cash in about 1,5 years (except for at the wardrobe at a club) and I’m super happy that way

  • @thisismyusername6717
    @thisismyusername6717 Před 3 lety +1

    Do not get rid of cash! Do not let them control you!

  • @MyNiceguy22
    @MyNiceguy22 Před 4 lety +5

    cashless what a horrible idea

  • @marlonmoncrieffe0728
    @marlonmoncrieffe0728 Před 4 lety +18

    Keep cash-at least until everybody born before the 1990s has died.
    But I'd rather keep cash around (but lose the penny).

    • @RK-ep8qy
      @RK-ep8qy Před 4 lety +1

      Marlon Moncrieffe I was born in 2001 and I’m not a fan of this either, don’t exclude me!

    • @Liberty_Freedom_Brotherhood
      @Liberty_Freedom_Brotherhood Před 4 lety +2

      I can’t see this happening for at least another 50-100 years, there is way too much inequality even in the developed Western countries. If you remove cash there will be a humanitarian crisis when homeless people and others who don’t have bank accounts or smartphones suddenly are financially excluded.

    • @michaelyenny7012
      @michaelyenny7012 Před 4 lety

      Can’t lose the penny. Leads to greater inflation.

    • @marlonmoncrieffe0728
      @marlonmoncrieffe0728 Před 4 lety

      @@michaelyenny7012
      How so?

    • @michaelyenny7012
      @michaelyenny7012 Před 4 lety

      Marlon Moncrieffe Why not lose all coins and round the price of everything to the nearest dollar? No. It hurts the poor. You don’t how much money $1 is to some people. Some people out there live on less than $1/day.

  • @maurianobaruso5859
    @maurianobaruso5859 Před 3 lety +1

    without cash , they can turn off anyones ability to buy sell or trade whenever they want

  • @Xchromosomerules
    @Xchromosomerules Před 4 lety +1

    When the internet's down and ur digital money dissapeared

  • @margaretswartz3348
    @margaretswartz3348 Před 4 lety +6

    RESIST!!!

  • @raqiyahyah
    @raqiyahyah Před 4 lety +3

    Been practicing this. I'm always cashless..... literal no money😂

  • @ShaunMbhiza
    @ShaunMbhiza Před 4 lety +1

    How will I get my fix?

  • @davidcarpin6365
    @davidcarpin6365 Před 4 lety +1

    ..... and who owns the Economist magazine?

  • @Pound_Shift
    @Pound_Shift Před 4 lety +4

    Funny how this video comes out ahead of carona virus lockdown

    • @carlgois8579
      @carlgois8579 Před 4 lety +2

      Algorithms or just being spied on. Remember, we are not watching our devices. Our devices are watching us.

    • @goosesteppa7642
      @goosesteppa7642 Před 4 lety

      The Liberal Goverment of Australia force people who have no job onto Indue.

  • @yis.8926
    @yis.8926 Před 4 lety +6

    once back in china a homeless man asked me to "alipay" him..

  • @DigiCLIPS283
    @DigiCLIPS283 Před 4 lety +2

    So what are rappers suppose to throw in the air now instead of huge Stax of cash

  • @animalplushworld100
    @animalplushworld100 Před 3 lety +2

    If we go cashless there will be no more scams anymore.