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House Speaker Nancy Pelosi wants us all to go to a cashless society. Should anyone be unfortunate enough to believe this is the way to go, well – it is not. Aside from the online ripoffs and outright theft of accounts, a cashless economy leaves out the larger, but less noticed, portion of the population that uses cash for the most part. Since Ms. Pelosi has never been ripped off at gunpoint in her own driveway, she forgets that the current crop of do-it-all phones and tablets, as well as those magic magnetic\u00a0 cards we all carry, make us far better targets than those who carry cash and have flip phones. (What’s a flip phone?)<\/p>\n
https:\/\/fortune.com\/2020\/06\/25\/cashless-society-coronavirus-cash-america-fintech-unbanked-privacy\/<\/a><\/p>\n That old harridan doesn\u2019t have nearly the support and\/or control of The People that she thinks she does.<\/p>\n From the article: While its use has certainly\u00a0declined<\/a>\u00a0in recent years, cash will likely never disappear as those in the cashless movement would hope. Many cities like\u00a0Philadelphia<\/a>,\u00a0San Francisco<\/a>, and\u00a0New York<\/a>\u00a0have recently passed legislation banning merchants from accepting only card and contactless payments.\u00a0New Jersey passed a similar bill in 2019<\/a>\u00a0on the state level, and cashless merchants have been\u00a0banned in Massachusetts since 1978<\/a>.<\/p>\n There are many reasons experts list in arguing that cash must remain a viable payment option: Going cashless excludes the millions of unbanked and underbanked people in America, most of whom are people of color<\/em>; cash is the best way to pay while maintaining a modicum of privacy; cash is integral to many cultural practices like tipping and gift giving; cash is resilient in a way that digital payments are not; and finally, consumer choice is one of the most important tenets of the free market, and eliminating cash removes one of the key payment options available to consumers.<\/p>\n \u201cThe cashless movement is a dangerous movement,\u201d assistant director of the National Consumer Law Center Lauren Saunders says.<\/p>\n Going cashless disadvantages the unbanked and communities of color:<\/strong><\/p>\n