Where has the money gone? (18 Jun, 2021)

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Where has the money gone? (18 Jun, 2021)

Postby aardvark_admin » Fri Jun 18, 2021 5:22 am

This column is archived at: https://aardvark.co.nz/daily/2021/0618.shtml

Where has all the cash gone?

Do you miss cash?

Did you fill jars with spare pocket change, back in the day?

Do you still use it?

Do you remember the exceptional value that a real penny used to be (that was a lot of metal for your money)?

Will the loss of lovely, tactile, anonymous cash lead to a shift to using crypto as a true currency?

Are we about to start telling our grandkids and great-grandkids about this mysterious stuff called coins and banknotes -- stuff that they may have never seen in their lifetimes?
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Re: Where has the money gone? (18 Jun, 2021)

Postby goosemoose » Fri Jun 18, 2021 6:16 am

I use cash all the time. I'll get a set amount every week and thats generally my spending for the week. I see coins all the time. Bigger stuff, which only happens occasionally, is EFT-POS. Or online, which I do a little bit of.

Remember too that when cash is gone all those parasitical, ticket clipping payment processing outfits such as afterpay etc will hike their fees and banks will have no problem charging you for EFT-POS. Don't come bleating to me when it costs an extra 10% for stuff to pay for all this nonsense. And when the net disappears?

And then too what about the black economy? That will go. Not the drug buying or naughty one either, just people trying to make a living by making a few extra bucks - I recently paid a bloke I met off the street $100 cash to clean out some guttering and I can bet you anything you like that 'black' money went straight back into the economy as opposed to some rich jokers money from tax rorts.

Cash, use it or lose it and suffer the consequences.
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Re: Where has the money gone? (18 Jun, 2021)

Postby aardvark_admin » Fri Jun 18, 2021 7:39 am

It seems that the World Bank isn't too keen on El Salvador recognising Bitcoin as a currency:
https://www.bbc.com/news/business-57507386
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Re: Where has the money gone? (18 Jun, 2021)

Postby phord » Fri Jun 18, 2021 9:49 am

I do wonder how the buskers and homeless beggars are earning their living on Queen street lately.

The banks should practice "Corporate Social Responsibility " and provide them with free portable pay-wave devices.

Indeed, there was a beggar looking for my attention outside the Westpac doorway the other day.
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Re: Where has the money gone? (18 Jun, 2021)

Postby namartinnz » Fri Jun 18, 2021 9:56 am

Speaking of Buskers and donations with cash/cheque, a lot of the charities don't want your one off payment - now they're after regular monthy payments. So the person bothering you at the super market as you leave doesn't want that $10 note, but to sign you up....

Otherwise I still have some cash in my wallet for paying the odd beer or feed. Otherwise it's paywave and eftpos...
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Re: Where has the money gone? (18 Jun, 2021)

Postby joeseph » Fri Jun 18, 2021 10:48 am

phord wrote:I do wonder how the buskers and homeless beggars are earning their living on Queen street lately.

The banks should practice "Corporate Social Responsibility " and provide them with free portable pay-wave devices.

Indeed, there was a beggar looking for my attention outside the Westpac doorway the other day.


the folks doing "windscreen washing" at traffic lights seem to still get enough revenue to encourage their existence.
Noticed a lady giving a bloke an orange the other day which looked surprisingly well-received.
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