The end of cash

[DodgyAgent]

Of course the real agenda is that it is easier to control people if their finances can be completely tracked.

[alphadog]

Those Danes must really enjoy getting taxed. If they take this to it's logical conclusion, the govt will have carte blanche to tax/confiscate/rob them out of everything they own. But then again, they probably already do/are... minus 0.75% interest comes to mind. Gold will rise again

[VectraMan]

There will always be a need for cash, its still surprsing how many businesses are just too ill equipped to handle card payments, but I understand the allure to a govt to be able to track every penny that an individual has, spends or earns

Does anyone know what it costs a small business to have a card reader?

I'd guess a lot of businesses would be happy to do away with the pain of handling cash as long as the alternative was free/cheap.

[OwlHoot]

Of course the real agenda is that it is easier to control people if their finances can be completely tracked.

control and tax them.

and abolishing cash will allow governments to prevent bank runs and introduce more effective capital controls.

[SimonMac]

Does anyone know what it costs a small business to have a card reader?

I'd guess a lot of businesses would be happy to do away with the pain of handling cash as long as the alternative was free/cheap.

Keep seeing the ones you attach to a mobile phone for £50 + a % of transaction fees, not idea how that scales up

[d000hg]

Those Danes must really enjoy getting taxed. If they take this to it's logical conclusion, the govt will have carte blanche to tax/confiscate/rob them out of everything they own. But then again, they probably already do/are... minus 0.75% interest comes to mind. Gold will rise again

Yeah, it's awful the idea that businesses would have to disclose their income rather than fiddle their books to evade tax.

[alphadog]

Yeah, it's awful the idea that businesses would have to disclose their income rather than fiddle their books to evade tax.

Who suggested that anyone should fiddle their books to evade tax? Not me.

The point is that the means by which the govt could increase tax and indeed introduce 'innovative new taxes' under in a cash less system are virtually unlimited. And that's not even considering the possibilities it opens up for fascism, corruption, black mail, destruction of political dissidents, etc, etc.

[Paddy]

The Danish government is concerned that cash puts too many “administrative and financial burdens” on shops...

The financial burden comes from banks charging exorbitant fees for paying in cash.