Cashless Society

As each generation becomes more and more Internet and electronic-savvy, there is an increased likelihood that in the years to come America will be plagued with more white-collar crimes than ever before (Wallentine, 2009). This issue becomes even more critical as globalization continues to spread ideas and technologies worldwide on a faster pace than ever, and the gap between rich and poor in the global marketplace increases as well, because the foreseeable result is the strengthening of domestic gangs and international separatist and extremist movements, which of course will lead to even greater spikes in crime rates and terrorist attacks (Cetron & Davies, 2008).

It has come to my attention of how we use our money and noticed that pennies aren't being taken seriously. I realized while standing in the checking line, people would rather use dollar bills instead of the piggy bank of pennies in their possession, not only because of limited utility, for instance, pennies are generally not accepted in vending and bulk machines, but also because the act of producing the penny cost more than the actual penny itself. So I ask myself, "Why use pennies? Should they be eliminated?" The growing debate of whether or not the penny should be eliminated from all cash transaction is, personally, futile, when they, themselves, doesn't bother to use them.

I think that what Deborah Owens meant by "Cash is King" is that if you pay with cash it is easier to track how much money you have to spend and how much money you have left. I personally feel that only paying with cash is a smart way to save money. This is because you can physically see how much money you have left, if you were to pay with a debit card you would have to check the balance in order to see how much you have left. An all cash society would help benefit the people, but not necessarily the economy. This is because people would be willing to spend less money on things. According to Money Mozart, " If people started paying for things with cash they would only buy things they can physically afford, they would rent or buy smaller house

This is still the status quo within most cities; it is dangerous to go out alone at night and unadvisable to walk through unlit alley ways. Suspicious characters often lurk in such places waiting to ambush the innocent passer-by and gain advantage and lavishness in their own lives by illegal means: “gardens, palaces, furniture, those antique silver cups with their prancing repoussé goats – crime paid for the lot of them.” (sat.1 ll.75-77) This leads me on to look at the matter of money. Money has always been an issue for the human mind.

Our society is in a downhill spiral. There is no liberty, no equality and there is no physical value of money. We live in a world in which prison companies and children’s hospitals are traded publicly on the stock market. Virtual currency is the only thing that these corporations strongly care about. There are no boundaries when profits are in concern. We live in a society that is dominated by the attraction of money. Greed is the characteristic that is pervasive, not generosity or compassion. People are encouraged to be selfish, not charitable. The idea and function of governments will only change if people’s minds alter first.

consumers with the ability to cash checks, receive bills in denominations of their choice as well

A completely cashless society sounds clean and convenient, and although we've made huge strides, we're not quite there yet. Despite the magic of PayPal, Square and credit cards, most of us need to carry around a handful of greenbacks. While we can choose from a rich array of singles, fins, sawbucks and Benjamins (and one day maybe Tubmans), there are several other denominations that the U.S. Treasury has discontinued.

Of course if these high denomination notes were unavailable, there are substitutes to pay for these crimes: precious gem stones, weapons, gold coins, and prepaid cards you can find at the grocery store. Far and away though, cash is still king in the crime world. Paper currency delivers absolute anonymity, portability, liquidity and near-universal acceptance (Rogoff). It leaves no trail the government can follow to the crime, unlike if we went cashless and the government could have the chance to see every transaction. Something else at the forefront of everyone’s mind this election is the rise of illegal immigration in the United States (which some might point towards cash as be enabling the problem for so long). If American employers had

White-collar crimes possessed future horrific harms and consequences to our nation, especially in the financial spectrum; yet, the society’s main concerns laid on street crimes because of their physical and immediate effects. It is important to note, however, that no crime is better than the other. Even though the impact of white-collar

1 Peter 5:8 (New King James Version), “Be sober, be vigilant; because your adversary the devil walks about like a roaring lion, seeking whom he may devour”: resonates throughout Mrs. Hefner’s being due to recent events of fraudulent withdrawals on her debit card. On August 6, 2015, she became considerably alarmed with her inability to disburse funds for her repast at Fried Green Tomatoes in Montgomery, Alabama since the declining of the transaction. Thus, immediately she telephoned Max Federal Credit Union to query on what episodes emerged to trigger this calamitous and problematic quandary. After devoting two consecutive hours on the phone waiting patiently on an attendant to answer, the credit union representative informed her that there were fraudulent charges in the amount of $300 in less than a week’s time. Nevertheless, the advances in technology are advantageous but detrimental to our financial wellbeing. This paper will examine how technology has changed the methods of theft and compare the disparity that prevails amongst the conventional thief and contemporary.

The economic impact of organized crime is staggering. “… a look at the economic impact alone gives a glimpse of the importance of this issue. The

In today’s economy, cash or a credit card is needed to meet the basic human needs. It is an apparent fact that we need cash or credit cards to purchase items such as food, clothing, and to buy gas. Also, when you are out shopping and discover that you have used all the cash in your possession, it is then that you realize that the advantage of having a credit card. Furthermore, with cash, you are restricted to the amount in your wallet or purse; however, a credit card allows you to pay for your purchase at a later date. Both cash and credit cards can be useful when you manage them wisely. While cash and credit cards are similar in that they both are readily accessible, used for goods and services at the time of purchase, they are dissimilar because of theft, high- interest rates, identity theft.

We take the position that digital currencies are a fad. As argument, we try to clarify the definition of currency in general and explain what a "digital currency" really mean. Than we examine the arguments for the digital currencies and at the end we present the evidences of perils of digital currency.

Picture this, you are purchasing your favorite drink and as you reach for your wallet, the only option you have for paying is electronically. That could become the case if we become a cashless society. You will see what a cashless society is and what it all entails. With disturbing someone’s privacy to the results of hijacking electronic accounts, cashless societies can have some advantages and disadvantages. As a list of countries that have already made the surface of topic when it comes to cashless societies, you will see how much of a difference cash is being used today as in years before. Cashless societies are creeping up upon people without them realizing it, but becoming aware of it could help people as they enter into the future.

Electronic cash is a term becoming more acceptable as the world makes a shift towards a cashless society. Since the 1960’s governments and financial institutions have made steady but slow steps towards the goal of a society without cash. The cashless society is being sold as a more convenient method of payment, and a method of preventing crimes all the way from the robbery of cash from an individual to the extent of money laundering among crime syndicates.