Letter to the Editor: The death of cash in America
The death of cash in America is nearly upon us.
Currently, $97 out of every $100 spent is done so electronically. This means no actual physical dollars changed hands, just ones and zeros on a computer screen.
There are those who would extol the virtues of a “cashless societ,” but there are pitfalls too. As we’ve already seen, a hacker can wipe out your account in a matter of seconds. But there’s an even more sinister danger. If all transactions are digital, then the government can know all there is to know about you and with one simple key stroke a government agency or official can wipe out your very existence.
In 1933, Franklin D. Roosevelt signed Executive Order 6102 that forced citizens to give up their gold because the economy wasn’t recovering fast enough. I would not be surprised if after the Fed meets in June, that an executive order is signed forcing us all to turn in our cash under penalty of law.
The war has begun — to be forewarned is to be forearmed.
Harold Wetzel, New Market