Post
Topic
Board Economics
Merits 2 from 1 user
Re: New York City Stores Must Accept Cash Council Says
by
alyssa85
on 27/01/2020, 13:13:47 UTC
⭐ Merited by philipma1957 (2)

Cashless societies being progressive leftist movements. It is curious to see one of the most progressive and left leaning states in the entire USA adopt policies which buck the trend. Ditto with leftist progressive california mirroring these anti cashless society paradigms.

I don't suppose they're doing this to make life easier for illegal immigrants who may not have access to debit cards or bank accounts?


No - they're banning cashless retailers because of the very real risk that if credit card terminals are hacked, or the electricity grid is hacked, the whole economy goes down.

In the UK, we've had several instances of banking IT going down, which means no-one can use the cards from the bank. If you have no cash at hand, you can't pay for food and petrol during the downtime.

You must always build fail-safes into a system - and cash is a fail safe.