life without paper money

[kstu]

the paperless office thread reminded me of my thoughts on this topic. do you think there will ever be a day when paper currency is non existent and goods are bought and sold through the use of credit and debit cards alone (or something similar)?

or are people too scared to abandon tangible currency?


btw, im a long time reader, first time writer, just joined a couple days ago.

 

[zimu]

i can see it getting less and less paperless, but never completely so.

using electronic cash requires quite an infrastructure- communications, central servers, transaction processing system, secure cabling etc etc which just will never be present universally i don't think

 

[Kalvin00]

Never.

 

[PowerMacG5]

I don't think we will move completely away from "hard" currency, but I believe that people will use more forms of digital dollars. The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal. If you move completely away from this form of currency, people may get the idea that there credit is not backed by much, which wouldn't be good for the economy.

 

[her209]

it would put a damper on arm robberies.

 

[Dufman]

Drug deals must be cash, so there will always be paper

 

[TallBill]

there is some city in asia that uses only e-money. dunno if they still do it or how it worked out or even where its at.

 

[TommyVercetti]

Originally posted by: Dufman
Drug deals must be cash, so there will always be paper

And drug money runs the world. Not joking.

 

[Chiropteran]

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

 

[fyleow]

Without paper money the majority of people would be screwed. When money simply becomes a number and you don't have to physically hand it over to someone you're in trouble.

 

[saxophonoia]

There will always be some form of cold hard cash.

 

[PowerMacG5]

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

 

[TommyVercetti]

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

Money is not backed by Gold.

 

[PowerMacG5]

Originally posted by: TommyVercetti

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

Money is not backed by Gold.

Then why is my economics teacher telling the class it is? I may be wrong, but I am just saying what was told to me.

 

[fyleow]

Originally posted by: TommyVercetti

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

Money is not backed by Gold.

It's backed by Platinum!

 

[milagro]

Yes. Definately.

 

[PowerMac4Ever]

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

lol, it looks like you haven't gotten to the point in your high school history class where the US leaves the gold standard.

 

[Kalvin00]

Originally posted by: Marauder911

Originally posted by: TommyVercetti

Originally posted by: Marauder911

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

Money is not backed by Gold.

Then why is my economics teacher telling the class it is? I may be wrong, but I am just saying what was told to me.

I thought the gold exchange was cancelled during Nixon's presidency?

 

[PowerMacG5]

Originally posted by: PowerMac4Ever

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

lol, it looks like you haven't gotten to the point in your high school history class where the US leaves the gold standard.

Apparently my schools curriculum didn't cover it last year, or this year; which is quite possible because the teachers are fairly lazy when it comes to gov't and US history. Could you explain it to me?

 

[OrganizedChaos]

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

then why did we switch from stuff like silver certificates to federal reserve notes?

note: not being an a-hole but would like to know, just incase the government collapsed.

 

[PowerMacG5]

Originally posted by: OrganizedChaos

Originally posted by: Marauder911

Originally posted by: Chiropteran

Originally posted by: Marauder911
The idea of having the paper or metal money is that it is supposed to be back by the government in precious metal.

No it's not.

Uhm, your money is technically backed by gold by the government. If it wasn't it would have no value. It may be so that it's not backed by as much as they claim, but it is, nonetheless, backed by gold.

then why did we switch from stuff like silver certificates to federal reserve notes?

note: not being an a-hole but would like to know, just incase the government collapsed.

Yeah, I may have been wrong, no offense taken. My school's teachers must not cover this. Thanks for letting me know though.

 

[StageLeft]

Yeah, there will definitely be a time. I'm a big proponent of it. I infrequently have money in my wallet, and never more than a couple of dollars. I use plastic for absolutely all purchases. Those afraid of a paperless sytem hold close illfounded fears.

 

[her209]

Can you stick plastic in a stripper's g-string?

 

[Jzero]

Gold Standard
Abandoned in 1971, most schools barely get to Vietnam...

 

[PowerMacG5]

Originally posted by: Jzero
Gold Standard
Abandoned in 1971, most schools barely get to Vietnam...

Thanks for the link. Have a :beer:. I think you also summed up what happened in my school too.