What If Money Goes 100% Digital?
The long term trend is obvious to any Sci-Fi fan – one day all transactions will be cashless. We might even have a universal currency known as credits!
There are some indications in Europe that the shift away from cash has begun:
- Italy - since 4th December 2011 amounts above € 1000 can no longer be paid in cash. This is to help stop tax avoidance, supposedly.
- Belgium – soon the maximum for cash transactions will be € 5,000, down from € 15,000, for the same reason
- EU – a directive has been issued regarding how they will enable a cashless society
Now a cashless society means that authorities get to track all transactions. And in the USA they are equating survivalist purchases with terrorism. So Preppers should probably only use trusted suppliers, and only pay cash.
And while cash can be kept safe, digital money can be taken from you with the click of a Powers That Be button. Ask a few dictators…
Something will have to replace cash, and it won’t be legal tender. But that won’t stop folk, so here’s some ideas about what we could use instead of cash, for any purchases we don’t wish to be tracked and cataloged:
Dedicated Patsy – the equivalent of the adult who buys liquor for teens. They make purchases on your behalf for a fee, and they don’t care who knows what about them, or what risks they face.
Businesses – shell companies will most likely always exist, so form one and let it buy your stuff. Perhaps run a large group of like-minded people, who share a single debit card… so Big Brother knows one of you bought something, not which of you.
Bartering and LETS - legal until it gets too popular?
Alternative currency – I don’t mean printing your own notes, but there are items of value that could be traded. Precious metals are an obvious one. What is to stop a business selling little nuggets of metal that fit on a necklace, each of a precise weight? And then folk can adopt it as a currency. In a tiny way, the Pandora charm bracelets are in that direction. What if Pandora sold charms that all weighed 10 grams and were made of pure silver (or whatever) and they sold them at only 15% markup on the raw metal value?
Theft – if you don’t get caught, your “purchase” won’t be traced.