💲💲💲 GOOD OLD CASH! 💲💲💲

💲💲💲OTIS AGREES:: Gen Z, spend cash and help save humanity!

Alistair

Alistair’s Substack

You forgot one of the basics which is to pay in cash whenever you can rather than paying by phone, card or whatever.  Every time you pay digitally, the bank and/or the platform scrapes a bit of the cash off.  While it may only be few cents per transaction, there's one hell of a lot of transactions and it adds up to billions in profits for the cash-rich banks/platforms we love to hate.

This why it irks me whenever I see someone pay for a cup of coffee with a phone/card and why i get angry whenever I see someone paying a small amount digitally.  Why not simply pay cash and stop the bank getting a slice that only goes towards rich bankers' bonuses?  Why not do the same for any small transaction.

The banks want all transactions, however small, to move online so they get a slice of every transaction and extract more wealth from the pot that ordinary people have. They're hoovering up wealth!

Spend cash not card. Its one of the most radical and transformative things you can do! (Its also worth remembering that is more social.  Keeps wealth and value in the community/locally.  Also, think about how you interact with the shopkeeper in the two types of transaction.  When you spend cash you look at the person who's taking it from you and you have the chance of a smile and a conversation.  When you tap a card or phone, you look at the phone.  At best its a-social - at worst its antisocial.

So, Gen Z, spend cash and help save humanity!

A Young Reader Asks for Help by Ted Gioia

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