| 00:00:14 |
Unidentified Speaker, -
CASH WILL DISAPPEAR WHEN HE TAKES ON A YEAR-LONG QUEST TO LIVE WITHOUT PHYSICAL MONEY. THIS EVENT FROM THE HARVARD STORE IN CAMBRIDGE MASSACHUSETTS IS...
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| 00:00:40 |
Unidentified Speaker, -
PEOPLE WHO HAVE -- WITH ME RIGHT NOW AND THIS IDEA THAT CASH MIGHT BE GONE SOMEDAY. I THINK THIS IS A HELPFUL WAY TO TOUCH ON SOME OF THE THEMES THAT...
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| 00:27:50 |
Unidentified Speaker, -
SOCIETY AND HOW DID YOU GO ABOUT DOING THIS? >> LARGELY SUCCESSFUL. AGAIN I'M NOT A WAITER. IT'S A DIFFERENT GAME AND A NOT SO -- GAME IF I NEEDED FOR...
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| 00:28:05 |
Unidentified Speaker, -
GO TO THE CHINESE RESTAURANT THAT ONLY TAKES CASH. I HAD TO PAY OVER AND ABOVE THE PRICE OF A DOUGHNUT ONE TIME AT A DOUGHNUT SHOP BECAUSE I HAD A CREDIT...
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| 00:30:37 |
Unidentified Speaker, -
CAN MODERATORS DO THAT THEIR THING. I FURTHER A LOT AND I TRUST GOVERNMENT MORE THAN I TRUST BANKS. BUT I ALSO WONDER IF THE RIVERS COULD HAPPEN. ONCE...
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| 00:33:08 |
Unidentified Speaker, -
HAVE LEGITIMATE CASH BUSINESSES AND THEY DECLARE 90% OF WHAT THEY MAKE AN HIDE THE OTHER 10%? DO YOU HAVE ANY IDEA WHAT THE VALUE OF THAT IS? >> IT...
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| 00:33:29 |
Unidentified Speaker, -
KNOWS WHAT IT IS PRECISELY BECAUSE CASH IS ANONYMOUS. IT ALSO INCLUDES MONEY THAT CORPORATIONS HIDTA PER SEASON THAT IS LIKE TONIC MONEY. BUT A HUGE...
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| 00:34:41 |
Unidentified Speaker, -
BALLPARK, $400 BILLION. IT TAKES THEM FIVE YEARS TO DO AUDITS TO ACTUALLY GET A SENSE FOR HOW LARGE THAT PROBLEM IS. NONE OF THAT IS THE QUESTION --...
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| 00:35:02 |
Unidentified Speaker, -
ABOUT 150 BILLION OF ALL KINDS OF DIFFERENT EXPENDITURES.
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| 00:35:08 |
Unidentified Speaker, -
MY QUESTION IS, HOW LOTUS CASHIERS HAVE TO GET BEFORE YOU REALLY MAKE A DENT IN IT? YOU STILL HAVE TO PAY THE TRUCK TO, AND EMPTY -- AND THEY START TO...
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| 00:35:37 |
Unidentified Speaker, -
THE THREAT OF ROBBERS THAT THEY ARE LOBBYING THE GOVERNMENT TO GET RID OF CASH ALTOGETHER. PARENTHETICALLY THEY HAVE GOTTEN RID OF COINAGE INTO THE 50-CENT...
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| 00:38:25 |
Unidentified Speaker, -
WHAT YOU THOUGHT ABOUT OR FIND OUT ABOUT THE POTENTIAL OF THE INCREASE FOR DECREASE OF BARTERING IN THIS CASHLESS SYSTEM? >> SO THE QUESTION HAS TO...
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| 00:38:40 |
Unidentified Speaker, -
OF HOW MONEY WAS BORN AND HOW THE DOLLAR AS IT HAS COME TO NAB HIM ABOUT. FOR A LONG TIME PEOPLE WERE BARTERING AND THIS IS THE DOUBLE QUADS EVENT. YOU...
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| 00:40:43 |
Unidentified Speaker, -
BUILT UP, BUT WHAT ABOUT THE RISKS AND INEFFICIENCIES THAT MIGHT SHOW UP IN A CASHLESS SOCIETY? >> THE EXAMPLE IS WHEN CHINA DECLARES WAR OR WHEN THE...
|
| 00:41:00 |
Unidentified Speaker, -
POWER OR THE SUN IS COVERED UP BECAUSE WE CANNOT CHARGE SOME OF THE SOLAR DEVICES, THEN YOU'RE IN TROUBLE AND PEOPLE WILL GO BACK TO SOMETHING LIKE...
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| 00:42:04 |
Unidentified Speaker, -
ON SOMETHING, THE SYSTEM IS ENGINEERED TO SHOW THAT YOU SPEND IT ON THAT SO YOU CAN'T SPEND CAN SPEND IT ON SOMETHING ELSE. YOU RELINQUISH IT, BUT I...
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| 00:43:06 |
Unidentified Speaker, -
ARE SORT OF CONSPIRACY THEORIST THINK THAT IS FOREIGN RELATIONS STUFF LIKE THEY ARE RULING THE WORLD AND AGAINST TRANSFER TO TREASURY AT THE END OF...
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| 00:44:05 |
Unidentified Speaker, -
THAT GOLD? >> WELL, NO. IT'S INTERESTING ACTUALLY BECAUSE ON THE ONE HAND A LOT OF PEOPLE LAUGH AT THE GOLD STANDARD IDEA, BUT IT IS A
|
| 00:44:16 |
Unidentified Speaker, -
WEIRD FOOTNOTE TO THE CONVERSATION THAT SO MANY CENTRAL BANKS HOLD SO MUCH GOLD. WHICH I FIND KIND OF WEIRD. BUT THEY MIGHT JUST HOLDING ONTO IT...
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| 00:45:21 |
Unidentified Speaker, -
THEY DON'T WANT THEIR SPOUSES TO KNOW HOW THEY ARE SPENDING MONEY, AND ALSO HAVING COLLEGE-AGE KIDS. I HAVE ONE SON THAT IS A BROAD AND YOU CAN JUST...
|
| 00:46:20 |
Unidentified Speaker, -
LESS INTERESTING. MORE INTERESTING IS AN ANONYMOUS DONATION TO CHARITY FOR EXAMPLE OR TWO BY A VALENTINE FOR YOURSELF AND YOU DON'T WANT THEM LOOKING...
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| 00:50:40 |
Unidentified Speaker, -
SO MANY PEOPLE, ELDERLY PEOPLE, POOR PEOPLE, MORE POOR PEOPLE THAT WILL GRAB THEIR SMARTPHONES AND MAKE A TRANSACTION? THERE'S A WHOLE HUGE NUMBER...
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| 00:51:44 |
Unidentified Speaker, -
PRISON. >> THERE ARE 20 MILLION PEOPLE IN THIS COUNTRY YOU DON'T HAVE A BANK ACCOUNT SO HOW ARE THEY GOING TO DO THIS STUFF? WHAT THEY HAVE TO DO, BECAUSE
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| 00:51:50 |
Unidentified Speaker, -
THEY ARE
|
| 00:51:52 |
Unidentified Speaker, -
EXCLUDED FROM, THEY ARE EXCLUDED FROM HAVING ELECTRONIC MONEY AT ALL. THEY HAVE TO GO TO A CHECK CASHING SERVICE AND THEY GET CHARGED SERIOUS FEES...
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| 00:53:16 |
Unidentified Speaker, -
PEOPLE TO CLIMB OUT OF POVERTY. THAT IS WHAT THEY'RE SAYING, AND THEY THINK THAT IS A PRETTY IMPORTANT DISTINCTION. BUT I HEAR YOU. PEOPLE WILL STILL...
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| 00:54:29 |
Unidentified Speaker, -
HOT IS THAT PLAN -- BECAUSE I WAS JUST AUDITED A FEW WEEKS AGO. I DON'T QUITE REMEMBER ALL OF THIS, BUT I THINK IF I REMEMBER CORRECTLY, I AM SELF-EMPLOYED...
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| 00:55:13 |
Unidentified Speaker, -
HAVE TO ESTIMATE THE COST OF SERVICE OR THE PRODUCTS. IT IS MESSY. I DON'T WANT TO BE AN ACCOUNTANT. WAY IN THE BACK. >> I'VE LIVED IN THIS AREA FOR...
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| 00:55:32 |
Unidentified Speaker, -
YOU. AND FINALLY, I HAVE SAVED ENOUGH TO TRY AND BUY A PLACE AND I WANTED TO BUY A PLACE THAT WOULD HAVE SOME RENTERS ALSO. I MANAGED THAT A LITTLE...
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| 00:57:26 |
Unidentified Speaker, -
VERSUS ELECTRONIC MONEY CONVERSATION. >> AND A SENSE, IT MAKES ME FEEL LIKE I WAS AMONG THE BOTTOM 5% OR WHATEVER YOU SAID, THE PEOPLE WHO
|
| 00:57:35 |
Unidentified Speaker, -
LIVE OFF CASH. IT IS PUTTING ME IN THE SAME -- >> PUNITIVE. >> THEY KNOW I HAVE THE INVESTMENTS AND THEY HAVE SEEN THE STATEMENT THAT I GET. .. >>
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| 00:57:51 |
Unidentified Speaker, -
NEXT,
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.