Is paper money becoming obsolete?
November 10, 2010 7:32am CST
Do you notice yourself using plastic more often than not. I find myself using less and less cash. Do you bellieve there will come a day that cash will be obsolete, and there will only be virtual money. Is money a thing of the past like cds. cassettes, records, dial t.v.'s, and rotary phones?
10 Nov 10
Only when people's economy improve and there is no longer poverty in this world. Only then plastic money can replace cash. As of now and many more years to come, plastic money can never replace cash as cash is still the popular medium of exchange.
10 Nov 10
I don't think so because there are more poor and starving people in the world than those who are rich. I do believe that rich are getting richer but poor are also getting poorer. So how would those financially challenge be able to get that so called "CARD" and technology. Credit cards will never be out, but it will not also take the place of money as the main source of trading. If you said money is the thing of the past, then I don't like plastic cards and give it to the poor and needy and to my god-children who wants money rather than toys. In a remote province were people live a very simple life, they don't even know credit cards. I saw a documentary film by a reporter who featured a small town whose crops were devastated with typhoon and they are still waiting for the government to help them assist in food. Everyday they eat bananas only and root crops. And now you ask me, where is credit card going to be applied in those types of provinces. Maybe you haven't seen the poorest of the poor that is why you were asking if credit card was the solution to keep paper money obsolete. Barter system was changed but credit card will never take the place for those coins and money paper which you give to people.
10 Nov 10
If we can based the technolgy I agree with you that years go on might become cashless society, mean no real tender money all will be vitual and card. It is look like that you see before they use in commerce "barter" goods against goods, later become previous metal like silver, gold and other then became paper money and coins so what is the next cashless... see you around