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Cold Sea

Cash and the Coronavirus

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Cold Sea
Posted (edited)

I think we will all agree that cash must be one of the most unhygienic things we can touch, yet most of us do this without thinking too much about it. Reading the news, it seems that the Coronavirus can live up to ten days on any surface, which makes it very possible for anyone handling cash or even credit cards to get infected. With cards you mostly handle the card yourself, but not with cash.

Some countries are burning their notes in an effort to help minimise a rapid spread, but from what I understand you are more likely to pick up the virus by touching flat surfaces, like coins and cards, than notes which are more porous.

The law says that you must accept cash as payment for goods, but can a shopkeeper refuse to accept cash when a government recalls their own money. This must also make the case for a cashless economy even stronger, but I wonder if this is at all possible in the near future.

Edited by Cold Sea

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jwither

There is no case for a cash less economy, except for those who want to control others.  Using coronavirus as a reason is the weakest rationalization I have ever heard to justify it.

And no, a cashless economy is not currently feasible in most of the world today.  There are too many people (even in a country like the USA) who do not have access to the financial system; no bank account, debit card, credit card or access to other credit.)  There is a famous book though (which will remain nameless for now) describing a future cashless society which is a concurrent hell.

As for your question, it depends upon your definition of "currency recall".  The currency recalls I know occur when it is concurrently demonetized.  By definition, the currency should no longer be "legal tender" and therefore, acceptance should also not be required.

What you are describing sounds more like notes no longer fit for circulation being removed.

I don't know what the law is elsewhere for your hypothetical scenario (which probably is happening now in many places).  In the USA as usual, it's just another scenario which is more likely than anywhere else to be resolved in court.  After all, the estimated 70% of the world's lawyers practicing here need something to keep them busy.

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Little Miss Muffet

Unless we swipe our cards we still touch the buttons on the card machine

WASH YOUR HANDS

The coronavirus has cases in my sons building and my daughter-in-law's building in the UK so I am freaking out.

They are supposed to be flying to South Africa on 6th April.My son is running in the two Oceans marathon.

I hope it is cancelled

 

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TradeRouteAuctions
4 hours ago, Little Miss Muffet said:

I hope it is cancelled

it will be cancelled.

Just now cases went up to 38 from 24.

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TradeRouteAuctions
On 3/13/2020 at 10:59 AM, Cold Sea said:

I think we will all agree that cash must be one of the most unhygienic things we can touch, yet most of us do this without thinking too much about it. Reading the news, it seems that the Coronavirus can live up to ten days on any surface, which makes it very possible for anyone handling cash or even credit cards to get infected. With cards you mostly handle the card yourself, but not with cash.

Some countries are burning their notes in an effort to help minimise a rapid spread, but from what I understand you are more likely to pick up the virus by touching flat surfaces, like coins and cards, than notes which are more porous.

The law says that you must accept cash as payment for goods, but can a shopkeeper refuse to accept cash when a government recalls their own money. This must also make the case for a cashless economy even stronger, but I wonder if this is at all possible in the near future.

Cashless economy - it will takes decades at least in Africa.

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Cold Sea
48 minutes ago, TradeRouteAuctions said:

it will be cancelled.

Just now cases went up to 38 from 24.

This thing is a bugger. If we need to start closing up shop, it will be very difficult times ahead.

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Pierre_Henri
2 hours ago, TradeRouteAuctions said:

it will be cancelled.

Just now cases went up to 38 from 24.

It went up from 38 to 24?

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TradeRouteAuctions
16 hours ago, Pierre_Henri said:

It went up from 38 to 24?

Typo 24 to 38

 

today again upto 51

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TradeRouteAuctions
18 hours ago, TradeRouteAuctions said:

it will be cancelled.

Just now cases went up to 38 from 24.

Two Oceans Marathon cancelled amid coronavirus pandemic
 

https://m.sport24.co.za/OtherSport/Athletics/two-oceans-marathon-cancelled-amid-coronavirus-pandemic-20200315?isapp=true

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TradeRouteAuctions
16 hours ago, Pierre_Henri said:

It went up from 38 to 24?

I wrote went upto 38

from 24

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Little Miss Muffet

I now have buyers using Post Office,Paxi,Postnet and Aramex.I just want to stay at home.

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