Re:Why do U.S. coins seem to be in short supply?
by jkepler on Monday July 20, 2020 @09:34AM
(#23897630)
> Also who the hell uses cash.
Who uses cash? The unbanked and underbanked, about 55 million adults in the USA, approximately 22% of the US households, according to the US Federal Reserve. In the USA that often includes folks like the homeless, or people from drastically lower socioeconomic classes, as well as undocumented workers, those who don't trust the banking system, and those without government IDs. [1]
This also includes anyone with strong needs for transactional anonymity, such as the Hong Kong protesters who bought transit tickets with cash so the police wouldn't be able to trace their ticket purchases/rides and arrest them based on their having gone to the protest location. [2]
Then there are other countries, such as Germany and India, where the majority of transactions are cash---though the past few years it would seem governments are increasingly trying to eliminate cash or cast suspicion on those who prefer Cash's anonymity. [3]
Who uses cash? The unbanked and underbanked, about 55 million adults in the USA, approximately 22% of the US households, according to the US Federal Reserve. In the USA that often includes folks like the homeless, or people from drastically lower socioeconomic classes, as well as undocumented workers, those who don't trust the banking system, and those without government IDs. [1]
This also includes anyone with strong needs for transactional anonymity, such as the Hong Kong protesters who bought transit tickets with cash so the police wouldn't be able to trace their ticket purchases/rides and arrest them based on their having gone to the protest location. [2]
Then there are other countries, such as Germany and India, where the majority of transactions are cash---though the past few years it would seem governments are increasingly trying to eliminate cash or cast suspicion on those who prefer Cash's anonymity. [3]
[1] https://en.m.wikipedia.org/wiki/Unbanked
[2] https://qz.com/1642441/extradition-law-why-hong-kong-protest...
[3] https://www.corbettreport.com/the-war-on-cash-a-country-by-c...