Should the world become a cashless society?

"Money - in the traditional sense no longer exists. It died "Money - in the traditional sense no longer exists. It died two decades ago when Richard Nixon forever abolished the gold standard. Since then, money as we once knew it has been replaced by an unstable new global medium of exchange that is called 'megabyte money'... megabyte money is a threat not only to our country's long-term growth and prosperity, but to the individual as well."o decades ago when Richard Nixon forever abolished the gold standard. Since then, money as we once knew it has been replaced by an unstable new global medium of exchange that is called 'megabyte money'... megabyte money is a threat not only to our country's long-term growth and prosperity, but to the individual as well." Recent research has suggested that people are in fact using more cash than plastic More people are becoming worried about driving up their credit card bills and having to pay off high interest rates.The only reason people consider money to have worth is because the Government and banks place power behind a simple piece of green paper. There has been a shift in the last decade to now placing value on a piece of plastic.

There are several advantages in using a debit card or credit card

 making online payment

paying at the pump for gas

if you use your credit card wisely you  build up good credit.

There is a need for both types of money

•A credit card is best suited for large transactions, financing items when all the money is not readily available

•Credit cards are not suited for daily use because of the danger it poses with identity theft

•Money poses less of a threat and therefore should be used on daily occurrences