How long do you think it is until coins and notes are not used anymore, and credit/debit cards are all that are used? I reckon it could happen within the next 100 years.
2007-10-15 05:07:32 · 4 answers · asked by NONAME 3 in Business & Finance ➔ Other - Business & Finance
I do not think that you wish to use the word redundant obsolete would be the word you are looking for. I doubt that it will happen at all. There are way to many people who value the thought of actually touching their money.
There are many financial reasons for having cash around, many of which are on the shady side but the psychological reasons are even stronger. If you take away the foundation of our economy (the American dollar) there will be a feeling of loss as well as unsureness of the true stability of our economy. many already feel this since we left the gold standard and went to the federal reserve word of honor that the money is good.
I would suggest that if they do get rid of all money that it would devastate our economy.
2007-10-15 05:18:35 · answer #1 · answered by Curiam 3 · 0⤊ 0⤋
there will always be a physical money system until we can end proverty. what do you think people in africa are going to buy goats with a american express? do you think the homeless man on the street will by a 40oz with his plantum card. I dont see the end of paper money any time soon.
2007-10-15 05:15:51 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I would agree with the first answer and also add that children cannot handle the concept of "plastic" and so would always need real coins for buying sweets and comics.
2007-10-15 05:17:39 · answer #3 · answered by SLH 4 · 0⤊ 0⤋
Until the perfection of theft of identity and bank accounts etc ...cash is the only safe way to pay..........!!
2007-10-15 05:17:45 · answer #4 · answered by Toffy 6 · 0⤊ 0⤋