It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by buddhasystem
Just as an aside note, in Japan they use their cellphones to enter subway, buy groceries and even a cup of coffee and nobody seems to break a sweat. In the next 2 years, the United States will close this technology gap, which is 10 years behind Japan, and we'll see a payment technology revolution.
But of course lots of us are backward, and insist on physical form of payment. Make your choice
b) beads and blankets
c) human skulls
d) US paper money
Originally posted by grey580
What's the big freaking deal.
You can always get around this.
Go to walgreens. Buy a amex gift card in the amount you need.
Then go use that.
Good luck tracing that.
"Legally valid currency that may be offered in payment of a debt and that a creditor must accept."
"Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries."
"Formally, it is anything which when offered in payment extinguishes the debt. Thus, personal cheques, credit cards, debit cards and similar non-cash methods of payment are not usually legal tender."
TITLE 31 > SUBTITLE IV > CHAPTER 51 > SUBCHAPTER I > § 5103
5103. Legal tender
United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.
Originally posted by KDM_Souljah
This is a gd idea and i hope it happens in the uk,my reason is because you'd kill so many ilegal wrongs in our society and i could name a few.
1.Drug cartels,dealers,users would find it very hard to do anything because pysical money cant be used to sell or buy drugs
2.Money launderying would be non existant because cash cannot be used,therefore cannot be laundered through buisness's for ilegal gains.
3.What about ilegals sending cash out yout country and living in your country using cash,they'd be screwed too and employer would be help to account as well.
4.ohh and we have terrorists that would be totaly screwed and would be deeply hampered without cash.
5.also this would hamper gun trafficers and cut down on ilegal weapons in your country.
The list is endless about what good things could come about this.
Take the tinfoil hat off for a few minutes and see the good in life for god sake,yes there are issue's with this system as there are with every system but give it 10-20 yrs and you will wonder why we didnt have such a system sooner,think off the real losers in this going forward,it wont be joe 6 pack.
The only thing i do worry about with this system is abuse and it being badly thought out and implemented
Originally posted by pirhanna
"This note is legal tender for all debts public and private."
This will be overturned as soon as someone takes it to court. It's the law of the land that you can pay cash. It's on the money. It's certainly not the most convenient way to do so, and I'm sure there are those in government that would like everything everywhere to be tracked (ok, most of them), but the fact remains that they are in opposition to their own laws.
It's on the money.edit on 28-1-2011 by pirhanna because: (no reason given)