Preparing for cashless trading
by tonytran2015 (Melbourne, Australia).
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(Blog No.35).
#banking, #barter, #cashless, #credit card, #demonetization, #Indian.
Cashless trading may come after the collapse of the ruling government or even when declared or indirectly created by the goverment. To survive, you need to be prepared.
When you have no cash and you want to pay someone 5 dollars worth of goods. You can:
1. Write a personal cheque. If it bounces then both the issuer (you) and the receiver who deposits it at a bank lose on the huge bank fines (commonly between 10 and 50 dollars, in Australia) for using a dishonoured (bounced) cheque. Who risks taking it?
2. Buy a Bank cheque of 5 dollars with an additional bank fee of about 7 dollars to pay the other party…
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