The flight from cash has only climbed since.
It’s interesting to note, though, that while the costs of producing and processing bank notes was nearly $61 million at the end of 2019, according to the Bank of Canada, the federal government actually makes money – about $1 billion a year – by issuing money.. Simply put, it costs about 42 cents to produce and distribute a bank note but banks pay for them at face value. The central bank invests what the banks pay in securities, which earn interest.
Maybe one day we will be cashless, but Giovinazzo, a retired schoolteacher, says she loves the feel of crisp bills. She puts them in cards for her now-grown nieces and nephews or gives them as tips in restaurants or salons. Some on social assistance refuse to get a bank account because the government can look at them and claw back payments if there are deposits that can’t be accounted for, she says.
“As long as there are poor people or refugees and immigrants or the elderly or the disabled, where traditional financial institutions are not accessible enough, there will be a need for cash,” he told CTVNews.ca during a phone interview from his home in Long Beach, Calif.The numbers are much lower in Canada, where the World Bank says 99 per cent of adults have an account with a financial institution.
Digital also means there is no need for staffers to count a till or risk delivering a bagful of cash to the bank at the end of the night, says Segal. The sales audit process is much simplified, too. “We’d give them their food for free. But it hasn’t been a big deal. Now everyone has a card in their pocket.”
Nobody bothers with the WHO cooties rules with pin pads and stuff in stores anymore. Even though the Bilderbergers' global coup is unraveling, they will keep trying. But there are always barter and local currencies to fall back on.
This is actually hilarious. We have been warning about this for decades. People wake the fuck up. Your all being played. All of it is a scam. ALL OF IT
Dam Chinese their responsible for the Wuhan Disease if they practiced hygiene and eat bats things like this wouldn't happen
No thanks
At the Beer Store a couple of months ago, computers down, cash only. Was in Giant Tiger about a month ago, computers down, would only accept cash. Bought some stuff at an online auction last week, no cash, 3.5% added to the bill to cover credit card fees.
Cashless society, the technocratic elites will have complete control over how you buy and sell.
Nope. Too much potential for a Handmaid’s Tale scenario. Cash is King. Always.
I loathe the idea of a cashless society. Big brother has too much control already.
That would be an extremely short sighted idea.... you will be owned if this happens... a slave even more than we already are.
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