Visa declar a war on cash

in #cashless7 years ago (edited)

Visa spending 10,000 to as many as 50 small-business food-service owners who commit to the campaign to become cashless.
We are becoming the cashless society.
http://www.denverpost.com/2017/07/12/visa-cashless-small-businesses/

The IMF 18 step to becoming cashless

An implementation of the transition from paper standard to electronic money could take
the following steps:

  1. Announce technical feasibility of eliminating the zero lower bound.

  2. Strengthen macro-prudential regulation by raising equity requirements substantially
    above those prescribed by Basel III.

  3. Ask banks and other financial firms to make contingency plans for negative interest
    rates.

  4. Develop accounting standards for negative interest rates that take electronic money as
    the unit of account, and give to paper money the value of its worth in the market
    relative to electronic money.

  5. Ask government agencies to prepare contingency plans for negative interest rates and
    non-par valuation of paper money.

  6. Make it clear no one has the right to pay off large debts to the government in contexts
    where transactions are now routinely conducted with bank money.

  7. Establish by law that debtors do not have the right to pay off large debts with paper
    currency at par when the market value of paper currency is below par.

  8. Formally make money in central-bank certified bank accounts legal tender.

  9. Announce the intent to introduce an electronic money system.

  10. Lower the central bank’s interest rate on reserves to zero or slightly below zero.

  11. Lower the central bank’s target interest rate, interest rate on reserves, and the central
    bank’s lending rate substantially below zero.

  12. If there is any sign of large increases in paper currency withdrawal, institute a
    time-varying deposit charge (levied on net deposits) when banks deposit paper
    currency with the central bank in exchange for reserves.

  13. Discount vault cash applied to reserve requirements by the factor of (1-deposit
    charge).

  14. Implement the accounting standards appropriate for negative interest rates and
    non-par valuation of paper currency.

  15. Require payment of taxes and other substantial debts to the government in electronic
    form.39

  16. Implement the contingency plans for government agencies.

  17. Ask all firms to post prices in terms of electronic money.

  18. Make it clear that firms are allowed to specify in contracts (including loan contracts)
    and in retail sale the terms under which they will accept paper currency.

You can download the full PDF and read it. Remember knowledge is power. Prepare your self.
Have gold and silver
https://www.imf.org/external/pubs/ft/wp/2015/wp15224.pdf

Donate
ETH 0xbb93d7e7984e32f4ce87a2eb56d388f28d991778
BTC 1FDjwMyh3Yz8sysRs5SCqv2LRazvEgxdwk
LTC LU5ch8mHmwQy3VVPxAYouTQf1QoKVBJh37
Doge DFamF5WADjZEBFSJ4KC8BPpPSgNdDTGdSx
Dash Xarb1CeEhC9Byt1UL1Y8H4TTJiHf13QdSL

Sort:  

Congratulations @jessiejesurasa! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!