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Is ca$h dying?

zipperzap
"The position seems to be that while there's been no decline in the value of cash transactions - the value of notes and coins in circulation grows in line with the economy's growth - the value of non-cash transactions is growing faster. So cash is slowly losing market share, so to speak."

What do you think? I still use physical currency less often
[8D].


http://www.theage.com.au/articles/2004/07/20/1090089155771.html
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Comments

9 comments

Date Votes
  • LKB3rd
    The value of paper money has been declining for a long time. It (the decline) has picked up recently also.
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  • john carr
    Maybe someone smarter than me can explain what they mean by "decline in the value of a dollar?" Do they mean that the dollar just doesn't buy as much as normal? Isn't this the same thing as "inflation?"

    Last night, I think it was on CNN, I listened to a "financial consultant" who said get ready for the dollar taking a 30 to 50@ decline in value. The moderator asked him what we should do with the dollars we now have in order not to lose this amount. He said do like he was doing with all his clients, getting rid of their dollars and exchanging them for German, French and Swiss currency. Does this make sense?
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  • Oren Rudder
    any comodity would be good, especialy things you can use, if you have alot of cash based assets realestate is good.
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  • mcaso
    Yes, but we still work the same number of minutes to buy the same items. Just like it has always been.
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  • Rockatansky
    Yes. And wait until we have RF chips and readers all over the place. Tinfoil hat kind of stuff.
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  • bobski
    the minute modern machines fail, CASH is what everyone falls back to. you cant go thru life w/o backups. CASH will always be here.
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  • mateomasfeo
    It's not dead, but at my house it is taking an ass whomping!!
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  • v35
    We carry very little cash; just enough for very small purchases. I dislike checks in general. We use debit cards or cash back credit cards for most transactions.
    Cash still governs at gun shows, flea markets, garage sales, private sales and the like.
    Like keys and locks, cash is a carryover from antiquity.
    A fingerprint or handprint or iris scan should be enough in the 21st century to approve a transaction or get you into a locked door.
    The technology is there.
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  • oldgunner
    I've found that if you pull out cash in some places, like a doctor's office, or at the dentist, you get blank stares..They understand just two things..Insurance and credit cards.
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