I hope all of you/.ers see the consequences here. Firstly without cash the govt will know eveything you buy and when you buy it.
Also all of a sudden all of these banks and other get a peice of your money for the 'convience' of not using cash.. and then when it catches on they will charge you for the privilidge of using cash. If you recall, when ATMs first came out they were all free to use because it saved the banks money as oposed to have everyone seeing bank tellers. Then they started to charge you to use the bank tellers because it cost them more then if you used the ATM. Then they charge you to use the ATM as a convience fee.
So you are going to be charged a fee to replace your card that has an intentional limited life span, you will be charged to transfer funds to it, you will be charged an electronic transaction fee when you use it. Its like an infinite infusion of middlemen.
Also all of a sudden all of these banks and other get a peice of your money for the 'convience' of not using cash
Uh, ever heard of a "credit card"?? This has been true for many, many, many years. Even if a consumer pays off a credit card balance monthly, they're still paying for that convenience every time they buy something. Us retailers have what it costs us to accept credit cards built into the prices of our products.
Yes i have heard of a credit card. A credit card is basically an on demand loan, i.e. not your money. I was making a point about the shifting nature of the use of your money (that you have in a financial institution.
All your privacy are blong to us.. (Score:3, Interesting)
Re:All your privacy are blong to us.. (Score:2)
Uh, ever heard of a "credit card"?? This has been true for many, many, many years. Even if a consumer pays off a credit card balance monthly, they're still paying for that convenience every time they buy something. Us retailers have what it costs us to accept credit cards built into the prices of our products.
Re:All your privacy are blong to us.. (Score:2)