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incomingpain

If you have cash and you go get a haircut for $50.

Then the hairstylist uses that $50 to buy groceries.

Then the grocery uses that $50 to buy boxes.

Then the box people use that $50 to buy wood.

The $50 keeps going.

Why the government wants to do away with cash and go to this system.

$50 minus fees.

$49 minus fees.

$48 minus fees.

Not to mention the ability to digitally print money has caused tremendous inflation and that's about to get much worse.

>Republicans say that they’re worried about invasion of privacy, that a CBDC would open the door to widespread government surveillance. But remember, these are the people who have handed over personal Medicaid data to ICE to facilitate arrests and abductions.

So proving the point literally 100%? That the USA already has widespread government surveillance and nobody ever did anything about it?

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PIX is free for the users and imposes a very, very small fee (much smaller than any other non-cash payments) for banks etc.

(and cash is not usable for large amounts)

It appears so, but that 50$ doesn’t keep going. What happens, for example, when the grocery gets robbed? That 50$ becomes 0$. When money’s involved, whether it’s debit/credit or cash, there’s always a money management cost involved, and cash usually has a much higher cost than debit or credit.

> The $50 keeps going.

Every part of the chain currently pay fees unless they are paying with cash.

> Not to mention the ability to digitally print money has caused tremendous inflation and that's about to get much worse.

Governments can print money physically as well. Also, most money in circulation never needs to be printed because it never leaves the banking system.

> So proving the point literally 100%?

Do you think banks would resist to giving the government your transaction history?

>Every part of the chain currently pay fees unless they are paying with cash.

I literally said cash as the 4th word typed.

>Governments can print money physically as well. Also, most money in circulation never needs to be printed because it never leaves the banking system.

Printing money back in the 1930s had to be done physically; and was at the consequence of gold.

Subsequent bad US presidents, roosevelt and nixon wrecked the usa ultimately; and they are paying for it now.

>Do you think banks would resist to giving the government your transaction history?

How do the banks know how i spent my cash?

> I literally said cash as the 4th word typed.

How many companies use cash as a primary means of payment?

> How do the banks know how i spent my cash?

That info would be inferred from the data the phone, social media, and other surveillance companies offer. They'd know to keep an eye on you because you transact too much using cash.

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