'A world without cash seems wonderful at first glance since it is convenient and fast. You don’t need to withdraw dollars or euros ahead of time. You don’t have to worry about money being lost or stolen. Paying for things with your phone is a breeze.
Many countries around the world are steadily shifting away from cash. Canada, the United Kingdom and Sweden have already largely embraced a cashless society. The U.S. is also steadily making the move, with people holding smaller amounts of cash.
However, the recent string of natural disasters and security breaches at major financial entities exposes a huge flaw in this trend: When the power goes out, telephone lines shut down or account information is stolen, it is impossible to use ATMs, credit or debit cards or mobile payments – no matter how rich you are.
In other words, giving up cash increases the chance of the kind of economic catastrophe that results when people can no longer easily trade for the goods they need and want. The solution to this national security issue is simple: bring back the currently maligned large denomination bills like the $500, which was discontinued in 1969.'
Read more: In Defense Of Cash: Why We Should Bring Back The $500 Note And Other Big Bills
Did you like this article?
Thank you for your vote!
13 June 2018
The 18 things you may not realise Facebook knows about you: Firm reveals the extent of its spying in a 454-page document to Congress
12 June 2018
The Havana Whodunnit: What Nation Just Built An 'Unprecedented' Spy Radar Base In Cuba?
10 June 2018
HART: Homeland Security’s Massive New Database Will Include Face Recognition, DNA, and People’s 'Non-Obvious Relationships'
9 June 2018
Israeli Company Is Selling Autonomous Surveillance Systems to Governments Around the World
From our advertisers
Laugh All You Like - Possession and Reptilians are REAL - The David Icke Dot-Connector Videocast
17 June 2018
‘You can smell the bodies’: Angelina Jolie in Mosul one year after ‘liberation’ by US-led coalition
8 hours ago
Nothing to see here! Israeli ministers approve ‘unconstitutional’ bill to ban filming of IDF actions
From our advertisers