Originally posted by: LiveFreeNW
I have been hearing that the elimination of paper money is just around the corner for nearly 30 years.
With a little luck I will keep hearing it until I am dead and future generations will hear it too.
Hopefully it doesn't happen because it would be disastrous to the economy and to individual freedom. Hopefully whoever has been fighting against it continues to do so and it never is implemented.
Actually, there would be immense practical and financial savings. Currency doesn't confer or signify "freedom." It's merely a medium of exchange. In fact, if you consider the ability to buy and sell, to trade, to access as many customers or providers, as many markets as possible, as a core aspect of freedom...electronic media of exchange enhance that freedom.
The economic and practical costs of handling, counting, sorting, storing, guarding, and physically exchanging currency are staggering. And it certainly is unsafe to be handling large amounts of currency.
I personally vastly prefer to pay for something with a debit card rather than have to obtain the needed cash. And I don't feel that diminishes my freedom.
