World Says YES to #Cash
THE WORLD SAYS YES TO CASH!
Good news on the #banksters'
push for a #cashless
plan to impose limit on cash transactions met with #fierce
“It would be fatal if citizens got the impression that cash is gradually taken away from them.” -- Bundesbank President Weidman.
"In Germany, such measures clash with deeply engrained habits and #social
attitudes. According to a recent Bundesbank study, 79% of payments in #Germany
are made in cash – compared with only 48% in #Britain
. Even among 14- to 24-year-olds, two-thirds say they prefer paying in cash to electronic means. In a YouGov survey, 72% of Germans said they considered it safer to pay in cash."
on Cash #Escalates
, Cash #Lovers
"Germany’s neighbor to the south, #Austria
, has similar reservations about the #EU’s
plans to #suppress
cash. The Deputy #Economy
Minister Harald Mahrer recently said that #Austrians
should have the constitutional right to #protect
“We don’t want someone to be able to track digitally what we buy, eat and drink, what books we read and what movies we watch,” Mahrer said on Austrian #public
station Oe1. “We will fight everywhere against rules” including caps on cash purchases, he said.
"Meanwhile, in tech-obsessed #Japan
, the country that first popularized mobile wallets and smartphones, cash is king. It is offered and excepted reverentially even when paying for groceries. Every ¥10,000-note is treated with utmost care. As a rule, they’re pristine. Demand for cash remains solid, to the increasing consternation of global credit card companies. In a 2013 report, MasterCard estimated that 38% of the total value of the country’s retail transactions were in cash. That’s almost twice the rate in the U.S. and five times the rate in #France."
Use Of #Electronic
Instead Of Physical Cash #Failshttp://www.zerohedge.com/news/2016-02-21/greek-attempt-force-use-electronic-money-instead-physical-cash-fails
has told taxpayers that they will have to spend up to a certain amount of their incomes via bank and card transactions in order to qualify for an annual tax-free exemption."
"Greek businesses are not ready for the expansion of #plastic
through the compulsory use of credit and debit cards for everyday transactions....an estimated half of all businesses do not have card terminals. "
In the United States Cash Continues to Play a Key Role in Consumer Spending: Evidence from the Diary of Consumer Payment Choicehttp://www.frbsf.org/cash/publications/fed-notes/2014/april/cash-consumer-spending-payment-diary
"Evidence from the Diary of #Consumer
Payment Choice (DCPC), conducted in October 2012 by the Boston, Richmond, and San Francisco Federal Reserve Banks suggests otherwise. Not only is cash a very different payment instrument than checks, but consumers choose to use cash more frequently than any other #payment
instrument, including debit or credit cards. Cash plays a dominant role for small-value transactions, is the leading payment instrument for many types of purchases, and stands as the key alternative when other options are not available."
"In October 2012, the average American consumer had 59 transactions, including purchases and bill payments, and 23 of these 59 payments involved cash."