In 2023, Thailand shifted away from cash just as Sweden asked to see it protected

[Sqoop]

Digital is fine until the infrastructure fails, I prefer to keep some cash on hand. 

[BigBruv]

Once cash is gone, the people in control of the bank digital currency will be able to apply consumption rules 

 

This guy is Head of The Bank of International Settlements (the BIS) - the cental bank of central banks (inc. Thailand).

 

Do you understand what he is saying?

[it is what it is]

1 minute ago, Sqoop said:

Digital is fine until the infrastructure fails, I prefer to keep some cash on hand. 

 

absolutely, as happened in the uk recently, suddenly anyone without cash was unable to purchase anyhting in certain retail outlets. cash will always have a place in an economy

[richard_smith237]

4 hours ago, Lacessit said:

4 hours ago, BritManToo said:

What's your rush?

I'm retired, plenty of time, standing in line in air-con isn't the worst thing in the world.

Wait until you have disc problems in your back, standing in line waiting for some moron to get their phone synchronized won't be so pleasant then.

 

Does your disc problem on flair up from the additonal microwaves emited from all this excessive phone use when paying digitally? 

 

Or... does it also flare up when a disorganised person is paying in cash too ???

 

 

Because - I can pay digitally far more quickly than most can pay in cash...

 

[richard_smith237]

3 minutes ago, Sqoop said:

Digital is fine until the infrastructure fails, I prefer to keep some cash on hand. 

 

Always good to have both options IMO.

 

I'd never want to see cash disappear....    We (society) functions better with the convenience of cashless payments, and the balance of cash payments....  Both should always be free option. 

 

 

BUT - I see a lot of the 'anti-digitial' arguments as rather silly and based on emotion and fear rather than serious intellectual thought. 

 

 

 

Some arguments get ridiculously close to the 'gun arguments'... i.e. we have to keep our guns / cash to prevent the tyrannical governments taking over...    these nutters must have rooms full of tinned food ready for when society breaks down !!!... 

 

 

[stoner]

3 hours ago, Jonathan Swift said:

If it had been you behind me you might have accidentally caught my elbow in your solar plexus

 

you really have the nerve to call someone childish after making this comment ? 

 

3 hours ago, Jonathan Swift said:

And you don't sound like a "real man", your attitude is in fact very childish and petulant.

 

real men resort to violence. 

[Muhendis]

Many years ago I was paid in cash on a Friday afternoon.

I could take some of my cash to the post office and put it into a savings account which would earn 4½%

Banks would be trying their hardest to get me to deposit my cash with them but their interest rates were less than the Post office (and building societies for that matter).

 

Now here we are in this (wonderfull?) digital money age.

Employers pay wages direct into bank accounts.

We are asked to use prompt pay or maybe debit cards to pay for goods.

Interest on savings is virtually nonexistent. (the banks borrow our money for free)

 

The control we once had over our money, is gone and that has happened in the guise of progress and ease of giving your money to someone else. 

The speed of returning money when there has been an error is much slower in this digital world than the speed of taking it from us.

[Tropicalevo]

4 hours ago, Andrew65 said:

You don't need those things to use a debit card.

Quite true. Cash is quicker, and not all shops/services have card readers. (Our business doesn't.)

Try paying food panda with a debit card.

[pepi2005]

Thai people are seemingly ready to move into digital slavery through CBDC's.

 

Unfortunately, they lack the foresight, awareness or love of freedom to see through things like these - It's already been demonstrated with their eagerness to submit to all the provably useless but totalitarian Covid rules.

 

With "CONVENIENCE" the puppet masters will lead people into digital slavery - once the usage ratio exceeds 80% or so, the bag will be closed and escape routes also.

[Tropicalevo]

4 hours ago, James105 said:

I end up with useless annoying small coins rattling around in my pockets.

I keep all of that and give it to the local temple.

[BigBruv]

*WHEN* a future economic crisis hits, having a CENTRAL bank digital currency (CBDC) account directly with the Thai *CENTRAL* Bank would mean they could just dip into your account for 'the greater good'.   

 

New tax? Just take the straight from your account  - Really convenient and no queues or paperwork! 

What's not to love?

 

I know most on here are socially minded so would be fine with that.

 

As it is, your bank currently provides a layer of protection from venal (all) Central Bankers and their politicians,

 

Hence the plan is to get rid of ALL cash asap

 

[BritManToo]

1 hour ago, orchidfan said:

I spend many months a year in Hong Kong and have used the Octopus card there for over 2 decades.

 

A while ago they introduced a new Octopus card with your photo on it and entitles "Elders" to pay only $hk2 for most bus,ferry and train trips.

Excellent !

 

Here in TH , being on marriage extensions where I'm required to photocopy months of pages of my bankbook, deducting or withdrawing small amounts  constantly (QR code payments etc ) soon fills up the book, as evidenced when doing an "Update"

 

I've already required several new bank books...which is a slow procedure in the bank as many of you know.

 

So I withdraw larger amounts from the ATM periodically, leave the bulk of it safely at home, and only put back 500 or 1000 baht into my wallet.

 

IF I find myself wanting to buy something of higher value, then I use my BBL Debit card  

2 accounts, one for daily spending, one for immigration. I don't even bother updating the immigration bank book, just pay 100bht for a 6 month statement for immigration every year.

[BigBruv]

*When he says Bank Digital Currency he means cards applepay etc.

 

 

[dinsdale]

5 hours ago, Bravoxray said:

What a great opportunity for a benevolent government to decide it does not want to be benevolent any more. Take away all but digital transactions and the temptation to grab excessive power might just become overwhelming. All it really takes is the assignment of digital IDs linked to a behavioral scoring system like ESG, and link those to a Central Bank Digital Currency (CBDC), like what is being done in China. Combine all of this with massive surveillance and presto! you will do as you are told, when you are told to do it or pay the consequences and you will have nothing to say about it. A controlling government can ban everything but digital transactions. People should have choices. Going all digital and only digital is more likely to end in disaster (and that just might be the intention).

This isn't a cut and paste by any chance is it? 

[barrybike]

I prefer to have cash in my pocket any day , cash is king , don’t like this move to all digital, I was a restaurant in Bangkok recently & no cash was being accepted 

[BigBruv]

10 minutes ago, dinsdale said:

This isn't a cut and paste by any chance is it? 

What a great opportunity for a benevolent government to decide it does not want to be benevolent any more. Take away all but digital transactions and the temptation to grab excessive power might just become overwhelming. All it really takes is the assignment of digital IDs linked to a behavioral scoring system like ESG, and link those to a Central Bank Digital Currency (CBDC), like what is being done in China. Combine all of this with massive surveillance and presto! you will do as you are told, when you are told to do it or pay the consequences and you will have nothing to say about it. A controlling government can ban everything but digital transactions. People should have choices. Going all digital and only digital is more likely to end in disaster (and that just might be the intention).

__________________________________________________________________________________________

It's worse than that.  Central Banks have more power than Govt's/Politicians.

US Federal Reserve is PRIVATE (as JFK worked out) and the UK Central Bank is independent (as Liz Truss found out last year after openly threatening their independence).

 

*Central Banks* would be the ones setting the rules and limitations on your electronic tokens (aka money) NOT elected Governments.

 

People may scoff but look at your own relationships: The one CONTROLling the money makes the rules.

 

[Bravoxray]

9 minutes ago, dinsdale said:

This isn't a cut and paste by any chance is it? 

Absolutely not.

[connda]

13 hours ago, webfact said:

A new report from the Bank of Thailand shows Thai consumers in 2023 shifting from cash towards digital payments. Only 66% of payments last year were in cash. Meanwhile, Sweden, the country that pioneered a cashless society, is moving in the opposite direction. In November 2023, the Riksbank or Swedish Central Bank called for cash payments to be protected by legislation despite cash transactions falling to only 1% of GDP.

And the whole paradigm will collapse in a heap when the first X-Class Coronal Mass Ejection takes out the grid in Northern latitudes, like Sweden, and the cashless segment of the population can't make business transactions.

Not "If" but "When."  Hopefully it isn't a Carrington Class event then everyone's grid goes south and making business transactions electronically may be the last of anyone's worries. And humanity's survivors will be the most agrarian societies still without electricity and running water.  Personally, I'd like to see a major-but-localized CME-induced grid event just to wake the collective fools up.

[OneMoreFarang]

10 hours ago, spidermike007 said:

Nothing worse than standing in a line behind some guy or gal, fooling around with their phone trying to get the payment app to work so they can pay for a 20 or 40 baht item at 7-Eleven. Or an 80 baht coffee. There have been times I've been so frustrated with the four or five minutes that this person is fooling around with their phone that I pulled out 20 or 40 baht and handed it to them. Here, take it, pay for it move on please.

 

In my opinion real man always carry cash. I hope that digital currency never takes over. I love having a wad of cash in my pocket. Always have and always will. 

And then there is that bug coffee shop where you can't pay cash even if you want to.

[OneMoreFarang]

One of the worst are payments for (motorcycle) parking. One of those horrible systems is in Central World.

Get the ticket with a QR code.

Later go with that ticket to some screen. Scan that QR code and see another QR code so that you can use your banking app to pay 10 THB.

And then drive out using the paper with the original QR code.

And then there are several service people nearby who explain this system to everybody. And people have to wait because other don't know how they system works.

I miss the good old times when I just paid 10B cash. 

 

[BigBruv]

7 minutes ago, connda said:

Personally, I'd like to see a major-but-localized CME-induced grid event just to wake the collective fools up.

 

No one is 'waking up' - most still can't see anything 'off', strange or untoward about the events of 2020

 

[Photoguy21]

Moving away from cash is the best present the hackers could get. Thailand security is not bad but certainly not good enough to move from cash. Come to think of it I cant think of a country who can protect their system adequately.

[Photoguy21]

1 hour ago, BigBruv said:

Once cash is gone, the people in control of the bank digital currency will be able to apply consumption rules 

 

This guy is Head of The Bank of International Settlements (the BIS) - the cental bank of central banks (inc. Thailand).

 

Do you understand what he is saying?

Welcome to Chinese rule. Funny how the Thai people originally came from South West China. They obviously didnt like it then but seem to like the same thing now.

[thesetat]

13 hours ago, Jingthing said:

I like a healthy balance.

I hate businesses that won't accept cash and I'm reluctant to travel to countries (China) where you absolutely need digital.

Thailand already has some shops that refuse cash. Subway to name one. Given that Thailand is a tourist hotspot though I do not foresee they totally converting to a cashless system. They would lose too much in lost tourism. 

[Bravoxray]

16 minutes ago, BigBruv said:

*Central Banks* would be the ones setting the rules and limitations on your electronic tokens (aka money) NOT elected Governments.

A government elected by the people does not ensure that it will be faithful to the people. And if atop central bankers displeases a government, it is not beyond the realm of possibility that a government would use any means at its disposal to replace 'uncooperative" central bankers? To paraphrase one Josef Stalin, How many divisions do central banks have? 

[BigBruv]

36 minutes ago, Bravoxray said:

A government elected by the people does not ensure that it will be faithful to the people. And if atop central bankers displeases a government, it is not beyond the realm of possibility that a government would use any means at its disposal to replace 'uncooperative" central bankers? To paraphrase one Josef Stalin, How many divisions do central banks have? 

Read up on Andrew Jackson - if you can print money you can easily buy politicians, armys, and so on.

 

Central Bankers rule the world via control over the money supply (NO SORRY, IT'S NOT JOE BIDEN)

 

Ask yourself: Can I name a single prominent politician who is 'faithful to the people'? 

Last one was (arguably) JFK who threatened to print 'State' money (NOT Fed notes) and to "break up the CIA into a thousand pieces and scatter it into the wind".

 

Yeah yeah I know it was Oswald and that this is a very very very very deep subject so not looking to debate it here.

IMHO If you know you know.  

 

Here's Liz Truss explaining how the UK swamp / deep state (inc. the Central Bankers) got rid of her.

Party members ELECTED Truss to try to kickstart the UK economy by cutting taxes to bring in foreign investment so they couped her and installed ex goldman sachs midget pajeet fishy rishi sunak (who NO ONE in the UK apart form the central bankers and their gophers) ever wanted.

As Truss said, if you can sack the PM but NOT the head of the Central Bank (who has an AWFUL performance record) who is really in charge? (see pic below for the correct answer)

 

 

 

 

REMEMBER:::::::::

 

[Andrew65]

1 hour ago, Tropicalevo said:

Quite true. Cash is quicker, and not all shops/services have card readers. (Our business doesn't.)

Try paying food panda with a debit card.

OK yes, I'm just mentioning how it is in the UK now. Pretty much EVERYWHERE now has the card reader machines. I do still keep some coins for a few things like parking ticket machines (in the glovebox) and where I used to live, the washing machine. Other than that, it's 100% plastic. (I even pay the bus fare with plastic!).

[rovinman]

11 hours ago, BritScot said:

One thing I have realised over the past few years is how stupid people are. Accepting lockdowns and in the uk publicly telling people they were using Phyops against their own people a fact that still disgusts me (being ex army). Then watch people sleep walking into digital currency  with the power banks and governments already welding. I tokenly carry an oz silver coin in my pocket to remind myself its real value and not made up. Everyone should read about the Bradbury pound (it scared the hell out of the Bank of England because it had real value).

 

Absolutely Correct !
More and More countries are going Digital which is enabling them to dictate to the customers anything they want.

Withdraw money at Will from your account, Parking fine, Speeding ticket { without proof in most cases },

Control of the Masses, who are without the Masses of money needed to argue  !

[Andrew65]

14 minutes ago, rovinman said:

 

Absolutely Correct !
More and More countries are going Digital which is enabling them to dictate to the customers anything they want.

Withdraw money at Will from your account, Parking fine, Speeding ticket { without proof in most cases },

Control of the Masses, who are without the Masses of money needed to argue  !

It was as long ago as the 1980's in the UK that people could no longer insist on the right to be paid their wages in cash.

[retarius]

There is huge danger in abandoning cash for cards produced by private firms or by government. You will soon be held to ransom by huge fees and or taxes you don't understand that you will be paying. When you complain you will be told, "you have no rights, we are not a bank, we can add fees in any way we see fit, and if you complain again we'll cut off your credit, so shut yer gob!!!!" Yes it would be nice to have the choice of cash or credit so if the credit card company screws you, you can always use cash. VISA/MC have had a campaign for years in the US and other large markets, trying to persuade businesses not to accept cash, and only to accept cards (you can clearly see where that is heading). And governments are only too eager to help, they benefit from reduced tax fraud.

I was told years ago at school that any sum owed can be settled in cash because cash is always legal tender....in some places it is not! Caveat emptor.