Cash in the US: What else?

Some financial instrument observers continue to gleefully throw out statistics arguing in favor of their assertion that coins and bank notes are on their way out and will be replaced with a cashless society. If this were true, then why are so many people flocking to coin collecting, and why are record-breaking prices for rare coins continuing not only in the United States, but worldwide? Electronic payments may be convenient for particularly expensive purchases, but the instruments have their limits, not to mention their lack of privacy. We need to pay attention to statistics these people use to defend their position, but statistics can be manipulated to make any argument sound plausible. Realistically, cyber money will likely become one more monetary instrument alongside checks, credit cards and much more; but cyber money will not replace physical cash.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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