Magazine article The Futurist

Cash-Now and Forever!

Magazine article The Futurist

Cash-Now and Forever!

Article excerpt

David R. Warwick's article "Toward a Cashless Society" fails to address the issue of security, convenience, and value (July-August 2004). I travel a lot, so what do I do [for money] in Cambodia? Bills for $100, $50, and $20 work 100% of the time anywhere. In Cambodia or France, legal U.S. tender doesn't bounce; it is also blackout proof, universally accepted as representing value, and allows me to tip [a taxi driver] $100 to get me to the airport on time during rush hour. Cash works 100% of the time.

Warwick's idea is to "outlaw" cash so nobody can steal it. While we are at it, I think we better outlaw wearing jewelry and watches; carrying PDAs, phones, or computers; and wearing expensive shoes. Burglars will steal stuff of value [no matter what it is].

Drug dealers and the teenagers who don't declare the $5 they got for washing my car will [start to] think creatively [in response to the absence of cash]. The drug dealer will use gold, silver, euros, yen, stock certificates, deeds, diamonds, and guns for commerce. …

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