Word: cashless
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Dates: during 1990-1999
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KIDDIE CARD Will technology-savvy teens take to the cashless society? Visa will soon find out. The company has launched a new debit card aimed at teenagers. The Visa PocketCard allows a parent or employer to make funds available to his or her "customer" electronically. "It is an account, but it's virtual," says William Scheurer, CEO of PocketCard Inc. You can transfer funds--via phone or online--from your bank account to an Internet one, so your teens can prowl the malls and the Web or chow down at Chili's. You can apply for this card only online...
...euro is a cashless currency. Euro coins and bills will not enter circulation until...
...result is an almost cashless society where business is transacted mostly by trading goods and services. Since most firms and citizens have no money, they can't pay their taxes. That means the government is always short of funds and the deficit keeps growing. It's even worse than that, says Brookings Institution fellow Clifford Gaddy. The basic problem, he says, is Russia's "virtual economy." Stuck with the unreformed Soviet industrial sector, the country turns out goods that are worth less than the value of the labor and raw materials that go into them. "This is eating the core...
...will stop institutions at simply monitoring our purchases? If an electronic cash card is programmable, it can be turned on and off with a simple line of code. It could be used to regulate what we can buy, when we can buy and whom we can buy from. A cashless society is not about freedom, as banks would have us believe; it is about controlling the consumer. Such a society would be the end of America and the beginning of a banking-corporate dictatorship. MARK WOODRAL Philomath...
...goes to a cashless society, America's underground economy will collapse. Are we sure the IRS isn't behind this? The underground I'm talking about is not drug dealers. I mean people who work for cash in order to get by. They hold jobs as lawn keepers, baby sitters, handymen, caregivers and so forth, and depend on payment in cash. I smell a political revolution in the making. RENEE PEARCE Mercer...