South Africa’s hidden R750 billion economy has one reigning king

Easy just stop Cash, you will be surprised how quickly people will adapt and survive. The only reason there is cash is because they think it's necessary and off course for tax evasion.
 
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Quicks said:
Easy just stop Cash, you will be surprised how quickly people will adapt and survive. The only reason there is cash is because they think it's necessary and off course for tax evasion.
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You will not be surprised how quickly things get destroyed and burnt down in the protests to follow.
 
Quicks said:
Easy just stop Cash, you will be surprised how quickly people will adapt and survive. The only reason there is cash is because they think it's necessary and off course for tax evasion.
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People can be so enamoured by a convenience they may enjoy, they are keen to sacrifice agency of others who don't have the same utility.

Cashless society is not a good thing now.
 
Cash tax: you only get R75 for every R100 you withdraw at an ATM or bank
 
Kaapie said:
People can be so enamoured by a convenience they may enjoy, they are keen to sacrifice agency of others who don't have the same utility.

Cashless society is not a good thing now.
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Always going to be some excuse if you don't force change sometimes then it will never happen.

Sure 10, 20, 30 years from now and people will have the same excuse and crime, corruption and everything else will just get worse.
 
3WA said:
Cash tax: you only get R75 for every R100 you withdraw at an ATM or bank
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It is already crazy. standard rates from the parasitic leech industry are usurious.
For deposit: R9 per R1000 deposited at an ATM, R40 per R1000 deposited over counter.
Hope bankers spend eternity in purgatory, and that it is a Bank.
 
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Quicks said:
Easy just stop Cash, you will be surprised how quickly people will adapt and survive. The only reason there is cash is because they think it's necessary and off course for tax evasion.
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You can't just "stop" cash. The numbers in your bank account need to be pegged to something, that something is cash. Eliminating the freedom to draw what's rightfully yours will open up a bunch of legal issues...
 
Mike Hoxbig said:
You can't just "stop" cash. The numbers in your bank account need to be pegged to something, that something is cash. Eliminating the freedom to draw what's rightfully yours will open up a bunch of legal issues...
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The money will still be there you will just transact electronically? Why do you need physical hard paper with a number on it to have value. I don't use cash and many others don't and the world did not end.
 
Quicks said:
The money will still be there you will just transact electronically? Why do you need physical hard paper with a number on it to have value. I don't use cash and many others don't and the world did not end.
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That physical paper with a number on it has value. The value of which is determined by those willing to buy it and accept it. It's what gives the number in your bank account meaning.

Why do you need anything then? Why do you need a metal dug up from the earth, what gives it value?

What you're proposing is that the value should sit with a number in a database. Yeah I can see how that won't be abused. It's actually scary how many people don't understand the fundamentals of what makes a simple economy work...
 
Mike Hoxbig said:
That physical paper with a number on it has value. The value of which is determined by those willing to buy it and accept it. It's what gives the number in your bank account meaning.

Why do you need anything then? Why do you need a metal dug up from the earth, what gives it value?

What you're proposing is that the value should sit with a number in a database. Yeah I can see how that won't be abused. It's actually scary how many people don't understand the fundamentals of what makes a simple economy work...
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www.investopedia.com

Why Governments Seek to Eliminate Cash

Global policies have been implemented to suppress the use of paper currency and promote digital currency to create a data trail for law enforcement and tax agencies.
www.investopedia.com www.investopedia.com

"Many countries are researching and developing CBDC programs. Developed nations have already begun transitioning away from physical cash, so it's not unrealistic to believe that CBDCs will soon replace it."
 
Has GG Alcock ever put forward some real evidence to back up his R750bn claim?
 
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Quicks said:
The money will still be there you will just transact electronically? Why do you need physical hard paper with a number on it to have value. I don't use cash and many others don't and the world did not end.
Click to expand...

good luck to you when your bank suspended your bank account / transaction devices error (out of order) but you need something urgently. :p
 
DreamKing said:
good luck to you when your bank suspended your bank account / transaction devices error (out of order) but you need something urgently. :p
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Do you carry R1000's in cash with you?
 
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