A Financial Think Tank has proposed a revolutionary new system of buying goods and services which does away with all these problems and concerns.
It’s called 💰cash💰
It comes in the form of metallic coins and paper promissory notes which are easy to carry in a purse or wallet.
According to the Think Tank, cash has several benefits over the old ways of money transfer.
- Cash is not connected to the internet so no hackers can get at it and steal it.
- Cash does not require you to remember any complicated passwords or PIN numbers.
- When you use cash there are no hidden ‘service charges’.
- You can use cash anywhere. You don’t have to worry if an establishment accepts a particular type of electronic payment.
- You won’t get charged twice with cash.
- There are no annual fees or late payment fees for using cash.
- You can’t spend more cash than you have with you.
- You can often get a discount on goods if you offer to pay cash.
- If you use cash, stores can’t track what you buy and send you annoying promotions.
- Neither will the government know where you shop or what you buy.
- You can use cash to bribe government officials (especially abroad) and business contacts.
- If you receive a ransom demand, the kidnappers will only accept cash.
- If you are unfortunate and get robbed, your loss is limited to the amount of cash you are carrying. The thieves cannot empty your bank account or go on a spending spree with your credit card.
Although cash has many advantages over current technical and online exchange methods, financial experts from RBS and Lehman Brothers said they don’t think it will catch on.
Ref: BBC News Testing the debit card with a fingerprint sensor
What’s the dumbest thing you bought because you had a credit card?
Where do you hide your cash?
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