"... EXECUTIVE ORDER 6102, issued by US president Franklin Delano Roosevelt 80 years ago, on April 5th 1933, banned private gold ownership in the United States, forcing gold owners to take their bullion to a bank and exchange it for Dollars at the prevailing rate ..."
& that's what politics will do for ya - the Dems have aligned themselves with an anti-America faction so they can grab power - not b/c they believe in all this social justice bullshit - the left is using them as useful-idiots so they can get the power they need to implement their true agenda(s)
Idk. While I believe that cash will continue to represent a more modest level of transactions in the future, I don't see it disappearing until the technology required to use electronic currency becomes more widespread and affordable for poor people. Even in this country we have an estimated 14 million adults without bank accounts and I'm sure the percentages are even higher in China.
i cut and paste this article: it show what the central bank wants to stop.
China is well on its way to become the world's first cashless economy, with mobile payments already accounting for four out of every five payments, according to a study by the South China Morning Post.
The figures come from the broadsheet's inaugural China Fintech report, which tracks the latest trends and future trajectory of the world’s largest financial technology ecosystem.
Digital currency is still way too expensive to transact, considering the majority of transaction are of minimal value we still have a looooong way to go before cash is replaced. Cash is the most economically way of transferring value. Maybe in another 10 years once they figure out a less expensive way to transact in digital currency it will be more prudent. I just can’t justify paying 5-10% more on top of my purchase just to use a crypto like Bitcoin.
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Idk. While I believe that cash will continue to represent a more modest level of transactions in the future, I don't see it disappearing until the technology required to use electronic currency becomes more widespread and affordable for poor people. Even in this country we have an estimated 14 million adults without bank accounts and I'm sure the percentages are even higher in China.
China is well on its way to become the world's first cashless economy, with mobile payments already accounting for four out of every five payments, according to a study by the South China Morning Post.
The figures come from the broadsheet's inaugural China Fintech report, which tracks the latest trends and future trajectory of the world’s largest financial technology ecosystem.
Don't forget to write.