Thailand forcing Cashless Society

[scubascuba3]

  On 7/1/2023 at 12:22 PM, tomacht8 said:

LoL

and once the bank has an overview of what you spend your money on: bar visits, girls, drinks, condoms, casino, lottery, holiday destinations, massage, motorbike rental, etc. don't be surprised if your credit lines are terminated.

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I don't need credit so it doesn't bother me

[Denim]

  On 7/1/2023 at 12:08 PM, h90 said:

We moved back to pay now the salaries in cash in envelopes again and all I order, if somehow possible is cash on delivery.

 

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What decided you to pay salaries in cash ? A good idea in my opinion.

[tomacht8]

  On 7/1/2023 at 12:26 PM, scubascuba3 said:

I don't need credit so it doesn't bother me

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Well, then I hope for you that there are no strokes of fate or far-reaching investment decisions in your life.

Even if you don't need credit, it's good to have lines of credit for unforeseen events, like a motorcycle accident or a nasty STD, which will then also be on bank record.

[brewsterbudgen]

I don't think there's any doubt that Thailand (like most of the developed world) is rapidly moving towards a cashless society.  Even the street food stalls outside my son's school take payment by QR Code/phone.  People will just have to get used to it - like I did!

[tomacht8]

  On 7/1/2023 at 12:43 PM, brewsterbudgen said:

I don't think there's any doubt that Thailand (like most of the developed world) is rapidly moving towards a cashless society.  Even the street food stalls outside my son's school take payment by QR Code/phone.  People will just have to get used to it - like I did!

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The development is unfortunately true. It will hopefully be decades before the totally cashless society emerges. Money is power. And whoever has total control of the money has the power. Without cash, the power structure then shifts to a few selected institutions.

[scottiejohn]

  On 7/1/2023 at 1:04 PM, tomacht8 said:

The development is unfortunately true. It will hopefully be decades before the totally cashless society emerges. Money is power. And whoever has total control of the money has the power. Without cash, the power structure then shifts to a few selected institutions.

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Another conspiracy theorist!

 

[scottiejohn]

  On 7/1/2023 at 12:43 PM, brewsterbudgen said:

I don't think there's any doubt that Thailand (like most of the developed world) is rapidly moving towards a cashless society.  Even the street food stalls outside my son's school take payment by QR Code/phone.  People will just have to get used to it - like I did!

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I hope the kids aren't using it!  Just the usual passers by,

[Jenkins9039]

CBDC's explained.

 

 

[tomacht8]

  On 7/1/2023 at 1:21 PM, scottiejohn said:

Another conspiracy theorist!

 

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If you want to call it like that. OK.

 

In a cashless society, in times of economic downturn, the government could simply impose a daily limit on spending per day/month to stabilize the domestic currency, and prohibit the population from converting their bank savings into other currencies. Such a measure was recently taken for example in Turkey and Russia. Anyone can imagine what such measures would mean in a cashless society.

[scorecard]

  On 7/1/2023 at 5:05 AM, FritsSikkink said:

You forget that a lot of Thai people who trade don't have a bank account because it takes too long to get one.

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Really? Not heard about that. Been with my Thai son (as a teenager and adult) when he's opened several different bank accounts. None took more than a 10 minute or less wait to talk to the service staff then walked out with a bank book and ATM/DEBIT CARD 10 minutes later.

In our neck of the woods quite a few of the small mall located traders and some road side taders now display a QR code. One we know has mentioned she's more than happy to have her sales income immediately in her bank account. 

Let's be aware that ATMs are disappering fast in many countries along with closure of many branches.

[scorecard]

  On 7/1/2023 at 1:41 PM, tomacht8 said:

If you want to call it like that. OK.

 

In a cashless society, in times of economic downturn, the government could simply impose a daily limit on spending per day/month to stabilize the domestic currency, and prohibit the population from converting their bank savings into other currencies. Such a measure was recently taken for example in Turkey and Russia. Anyone can imagine what such measures would mean in a cashless society.

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Nice points. Reality is that authoritarian govt's / any govt's could set up numerous ways to control funds flow if they wished. 

[tomacht8]

  On 7/1/2023 at 1:53 PM, scorecard said:

...... One we know has mentioned she's more than happy to have her sales income immediately in her bank account. ...

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That does not make sense. If the seller gets cash directly in her hands, she still has her money in the fastest and most direct way that there is at all.

 

 

[Sametboy2019]

  On 7/1/2023 at 1:04 PM, tomacht8 said:

The development is unfortunately true. It will hopefully be decades before the totally cashless society emerges. Money is power. And whoever has total control of the money has the power. Without cash, the power structure then shifts to a few selected institutions.

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It already is....Blackrock, Vanguard etc

[Liverpool Lou]

  On 7/1/2023 at 8:41 AM, FritsSikkink said:

  On 7/1/2023 at 6:12 AM, Liverpool Lou said:

Er, no, it does not take a Thai "too long" to open a bank account.

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It does for people who have unofficial businesses

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What are they?   Do any banks advertise any facilities for those "unofficial businesses"?

[Liverpool Lou]

  On 7/1/2023 at 10:41 AM, Jenkins9039 said:

  On 7/1/2023 at 6:10 AM, Liverpool Lou said:

Something that isn't happening, every small 7-11 is not being closed!

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In Phuket it is !!!

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Then some small 7-11s are being closed.

[Liverpool Lou]

  On 7/1/2023 at 11:25 AM, save the frogs said:

serious question.

if all cash disappears, how to pay for bar girls?

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Serious answer, transfer to their bank account...obviously.

[Liverpool Lou]

  On 7/1/2023 at 1:53 PM, scorecard said:

Let's be aware that ATMs are disappering fast in many countries

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Let's be even more aware that ATMs are not "disappearing fast" in Thailand.

[save the frogs]

  On 7/1/2023 at 1:53 PM, scorecard said:

closure of many branches.

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closure of many branches is a fact around the world.

some banks are exclusively online now ... and they offer better returns on deposits because they have less overhead. 

[3NUMBAS]

bgs and feelancers will always     be cash only 

prostitutions anywhere is always cash only

[save the frogs]

  On 7/1/2023 at 2:33 PM, Liverpool Lou said:

Serious answer, transfer to their bank account...obviously.

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and declare taxes on their quasi-legal income? 

[Puccini]

  On 7/1/2023 at 7:14 AM, jaideedave said:

Yes it used to be a conspiracy theory  but when digital ID and BCDC currency becomes reality we will give up control of a large part of our lives.Our privacy among other things will be compromised.The CBDC will be programmable at the gov'ts whim.Ask a Canadian trucker protester how it feels to have your bank accounts frozen during that time.  

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CBDC: which of the following is it?

 

[Liverpool Lou]

  On 7/1/2023 at 2:48 PM, save the frogs said:

  On 7/1/2023 at 2:33 PM, Liverpool Lou said:

Serious answer, transfer to their bank account...obviously.

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and declare taxes on their quasi-legal income? 

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Quasi-legal?  Up to them if they want to declare their perfectly legal income.   It is not illegal to accept money for sex Thailand.

[Puccini]

  On 7/1/2023 at 7:14 AM, jaideedave said:

Yes it used to be a conspiracy theory  but when digital ID and BCDC currency becomes reality we will give up control of a large part of our lives...

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BCDC: which of the following is it?

 

[3NUMBAS]

pity the beggars with no cash

 

buskers in the uk now   use  card machines so beggars willl do the same??

[3NUMBAS]

tea money has to be cash or it leaves a trail 

[rattlesnake]

  On 7/1/2023 at 4:51 AM, Sandboxer said:

As long as short time can be paid by QR, who cares....

 

It's 2023. The only people who still need cash are criminals and folks who refuse to let go of archaic methods and probably still write checks ('Murica, lol). We can afford to leave those types behind us. Unnecessary baggage.

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Klaus Schwab would concur. "Nothing to hide, nothing to fear", right?

 

Cashless means CBDCs, which means total government overreach and potential dictatorship, especially when combined with "social credit score" systems. Don't tell me such systems will never happen, they already have with the vaccine passports: scan your QR code, green (good citizen) you're in, red (bad citizen) you're out.

 

Accept cashless and you're opening the door to this:

How China's 'social credit' system blocked millions of people from travelling

https://www.cbc.ca/radio/thecurrent/the-current-for-march-7-2019-1.5046443/how-china-s-social-credit-system-blocked-millions-of-people-from-travelling-1.5046445

[billd766]

  On 7/1/2023 at 12:22 PM, tomacht8 said:

LoL

and once the bank has an overview of what you spend your money on: bar visits, girls, drinks, condoms, casino, lottery, holiday destinations, massage, motorbike rental, etc. don't be surprised if your credit lines are terminated.

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I will become a problem for them.

 

At my age of 79 with a problem walking, my wife does all the shopping and she doesn't go to bar visits, girls, drinks, condoms, casino, massage, motorbike rental etc, though she does pay cash for lottery tickets.

 

She mainly shops in the village markets and shops and also the 7/11.

[billd766]

  On 7/1/2023 at 12:26 PM, scubascuba3 said:

I don't need credit so it doesn't bother me

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Me neither. 

 

As a farang I cannot get credit even though I am the one bringing the money in,

 

I can get a credit card, but it means depositing the amount of money I want as a credit card into a separate bank account and paying the credit card through that account.

 

OTOH my wife being Thai can get credit.

[Burma Bill]

  On 7/1/2023 at 5:12 AM, KhunBENQ said:

Nonsense post of the day or just hidden satire?

Have you ever left your farang ghetto?

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Yes indeed, a "rubbish' post. The poster has probably never lived in rural Thailand, especially in the North where I did for 20 years.  A QR code was totally useless in the local markets and ma & pa shops where it was "cash only" (including our local ex-pat bar!!)

[scorecard]

  On 7/1/2023 at 2:18 PM, tomacht8 said:

That does not make sense. If the seller gets cash directly in her hands, she still has her money in the fastest and most direct way that there is at all.

 

 

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But holding all of her money in her hands 24/7, is that safer than instantly in the bank and available to her whenever she wants?