Would a cashless society end this menace of black money?

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Discussion Overview

The discussion revolves around the implications of transitioning to a cashless society, particularly in the context of black money and financial control. Participants explore various aspects including the feasibility of such a society, the role of banks, and potential societal impacts, including concerns about privacy and government oversight.

Discussion Character

  • Debate/contested
  • Conceptual clarification
  • Exploratory

Main Points Raised

  • Some participants question the practicality of a cashless society, citing limitations on credit card usage for small purchases and the potential for continued black market activities.
  • Concerns are raised about the implications of a cashless society leading to increased government surveillance and control over personal finances, with references to a "Big Brother" scenario.
  • Participants discuss the role of private banks in a cashless society, with some suggesting that banks would benefit financially while others express fears about the concentration of power in private institutions.
  • There are arguments about the potential for illegal activities to persist even in a cashless society, as individuals might resort to alternative forms of value exchange, such as gold or diamonds.
  • Some participants express skepticism about the regulation of banks, citing past incidents of financial misconduct and questioning the effectiveness of oversight.
  • Others highlight that society is already moving towards cashlessness, with many transactions occurring without cash, yet express concerns about mandatory implementation.

Areas of Agreement / Disagreement

Participants do not reach a consensus on the benefits or drawbacks of a cashless society. Multiple competing views are presented regarding its feasibility, implications for privacy, and the role of banks.

Contextual Notes

Limitations in the discussion include varying definitions of a cashless society, differing assumptions about the role of banks, and unresolved concerns about the impact on illegal activities and personal privacy.

  • #31
faust9 said:
For some reason this account of the thread does not jive with what has been presented in the thread. I don't recall reading anything by Burnsys to the effect of a magical trillion dollars which you use here as your example. In fact, your response was to Art which I took the liberty to correct you by stating the money is 'magically' produced. I found it odd that you chose to be so condescending when the reality of the situation is akin to 'magic'. Money is less valuable than lead ironically enough. The value WE place in money as a barterible resource is far far greater than any money or natural resources backing the dollar bills you may carry with you. Lead into gold or rather green ink into gold. Magic.

I understand how you got so confused. This is in relation to another thread where Art and Burnsys showed very little knowledge on how the banking system works. Burnsys belief is that you can simply create a trillion dollars out of nowhere (because he compared it to himself being able to run a counterfeight operation in his backyard). This lead him to say something with a false basis that i addressed. As for the 17 year old loser thing, iwas talking about the person who wrote that blog because really... who would waste their time with such trivial matters?
 
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  • #32
Pengwuino said:
I understand how you got so confused. This is in relation to another thread where Art and Burnsys showed very little knowledge on how the banking system works.

ROFL Good one penqwuino I hadn't realized you had such a good sense of humour.
 
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  • #33
Thank you, thank you, i try my best
 

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