Japan mulls the cashless society

[Anti Federalist]

From The TimesJune 19, 2009

To fight deflation, abolish cash. Could Japan make reality of ‘science fiction’?

http://business.timesonline.co.uk/to...cle6531299.ece

Leo Lewis Asia Business Correspondent

With recovery elusive, a population doddering into old age and perhaps a decade of deflation in prospect, Japan may start mulling the most radical monetary policy of all — the abolition of cash.

Unorthodox, untried and, said one Bank of Tokyo Mitsubishi strategist, “in the realms of economic science fiction”, the recommendation has nevertheless begun floating around Tokyo’s corridors of power and economists have described Japan as particularly suitable as a testing ground.

The search for more outré economic policies continues, despite the recent surge in the Nikkei 225 index.The market may be reflecting soaring Chinese investment, rising consumer confidence and other cheerful data but economists see few long-term beacons of hope for Japan.

Other extreme ideas mooted by the financial authorities include a tax on physical currency or introducing one to operate alongside the yen.

[Conza88]

Oh lordy...

[Anti Federalist]

Oh lordy...

Yup.

I'm sure not one in ten people understand the true ramifications of such a thing.

[heavenlyboy34]

great shades of dystopia, Batman!

[Andrew-Austin]

What do they mean "the abolition of cash"? What would they use instead?

[Annihilia]

What do they mean "the abolition of cash"? What would they use instead?

In other words, no physical cash, just digital entries. A very frightening prospect.

[thrillhouse]

A chip placed in your hand that works like one of those tap and go credit cards.

A lot of people think this is "the mark of the beast" and is one of the signals of the end of the world.

[Andrew-Austin]

In other words, no physical cash, just digital entries. A very frightening prospect.

Its still currency just the same, a lot of dollars are only represented as numbers in a computer and I'm sure the same thing applies to Japanese Yen. The average person should be able to recognize this as a stupid idea. It makes no difference if the money is physically or digitally expressed, except paper costs a bit more than nothingness and an e-currency would be easier to inflate?

A lot of people think this is "the mark of the beast" and is one of the signals of the end of the world.

Its hard not to think that.

[Cowlesy]

So what happens when you tick off someone and you get "shut-off"?

[Anti Federalist]

So what happens when you tick off someone and you get "shut-off"?

That's just what happens, you get "shut off".

Thrown off the grid with no way to buy or sell anything.

[reagle]

the government could restrict your travelling too

there would be a black market for everything

[Anti Federalist]

the government could restrict your travelling too

there would be a black market for everything

We're pretty much there as far as travel is concerned.

One word is all it takes.

[DapperDan]

So what happens when you tick off someone and you get "shut-off"?

Blackmarket...

or if you have no idea what to do afterwards you can just say

YouTube - 3D Test- Game Over Man

[youngbuck]

Just in time for the Fed taking over our economy.

[ChaosControl]

Thank goodness I'm going to go self sufficient. **** society and this 1984 b.s. to hell.

[ChaosControl]

Oh black markets are great. I very strongly encourage everyone to use one if they know of one to use. Avoid taxation, avoid government knowledge of a transaction. It is nice.

[tangent4ronpaul]

One well placed EMP bomb and that idea will be toast...

-t