Submitted by Taps Coogan on the 7th of November 2019 to The Sounding Line.
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The following chart, from Statista.com, shows how often cash is used for payments in a selection of developed market economies.
With central banks and regulators around the world constantly pushing for the curtailment of cash transactions and banking privacy, it is interesting to see that cash usage is the highest in the countries with the most repressive negative interest rates (the Eurozone and Japan), the highest sales taxes (the Eurozone and Japan), and the most restrictions on cash (the Eurozone).
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There is a concerted effort to make the US dollar the last man standing, then, pull out the rug and build a bridge over the rubble of the 1934 lien note with CARBON CURRENCY. If successful, the day will come when you wont even be able to have a garage sale without the Fascists/communists taxing you LIVE for each transaction, (and) be taxed at “two pounds a day ” for all the CO2 you exhale. I don’t see any chance of a gold standard unless we have a world war, and China/Russia win. Money isn’t money unless people think it’s… Read more »
Cash is also very well designed and useful in these countries. People buy a lot of things with small denominations and coins. In the USA coins are only useful for laundry and parking meters. One dollar bills are useless and take up a lot of space and the biggest bill is too small to buy anything.
True and only getting worse