Stuff They Don't Want You To Know

CLASSIC: A World Without Cash

Jun 3, 2025
Explore the intriguing shift towards a cashless society, where digital currencies dominate and cash seems like a relic of the past. Dive into the pros and cons of this transition with insights on privacy, financial inclusion, and the ever-present role of cash. Discover the potential risks of surveillance and the impact on low-income individuals. Through personal anecdotes and historical context, the discussion invites listeners to reflect on what a cashless future could mean for personal freedom and economic accessibility.
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ANECDOTE

Cash as Emergency Backup

  • Matt Frederick shares a grocery store story where the network went down and he needed cash he rarely carries.
  • He quickly got cash to pay but the system restored before he could use it, highlighting cash's backup value.
INSIGHT

Cash Still Dominates Payments

  • Cash remains the most frequent payment method in the U.S., with about 31% of consumer transactions.
  • This is surprising as many assume electronic payments dominate, showing cash's ongoing relevance.
INSIGHT

Typical Cash Carried is Low

  • Most people who carry cash carry less than $50, often just about $20.
  • This matches ATM withdrawal tendencies and affects convenience for cash-only transactions.
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