Visa spending 10,000 to as many as 50 small-business food-service owners who commit to the campaign to become cashless.
We are becoming the cashless society.
http://www.denverpost.com/2017/07/12/visa-cashless-small-businesses/
The IMF 18 step to becoming cashless
An implementation of the transition from paper standard to electronic money could take
the following steps:
Announce technical feasibility of eliminating the zero lower bound.
Strengthen macro-prudential regulation by raising equity requirements substantially
above those prescribed by Basel III.Ask banks and other financial firms to make contingency plans for negative interest
rates.Develop accounting standards for negative interest rates that take electronic money as
the unit of account, and give to paper money the value of its worth in the market
relative to electronic money.Ask government agencies to prepare contingency plans for negative interest rates and
non-par valuation of paper money.Make it clear no one has the right to pay off large debts to the government in contexts
where transactions are now routinely conducted with bank money.Establish by law that debtors do not have the right to pay off large debts with paper
currency at par when the market value of paper currency is below par.Formally make money in central-bank certified bank accounts legal tender.
Announce the intent to introduce an electronic money system.
Lower the central bank’s interest rate on reserves to zero or slightly below zero.
Lower the central bank’s target interest rate, interest rate on reserves, and the central
bank’s lending rate substantially below zero.If there is any sign of large increases in paper currency withdrawal, institute a
time-varying deposit charge (levied on net deposits) when banks deposit paper
currency with the central bank in exchange for reserves.Discount vault cash applied to reserve requirements by the factor of (1-deposit
charge).Implement the accounting standards appropriate for negative interest rates and
non-par valuation of paper currency.Require payment of taxes and other substantial debts to the government in electronic
form.39Implement the contingency plans for government agencies.
Ask all firms to post prices in terms of electronic money.
Make it clear that firms are allowed to specify in contracts (including loan contracts)
and in retail sale the terms under which they will accept paper currency.
You can download the full PDF and read it. Remember knowledge is power. Prepare your self.
Have gold and silver
https://www.imf.org/external/pubs/ft/wp/2015/wp15224.pdf
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