niggas and. overall the cost of banks amounts to billions of euros each year but that s not the only issue threatening diffusion of cash. and european union is also playing its part putting limits on cash payments and threatening to do away with large euro notes is cash fast becoming a museum piece. not at all says germany s central bank box the man in charge of cash management at the borders bank freely admits things are changing. get going and got interests not going to do if there s a clear agenda going on here and we mustn t be fooled by that we re talking about a lot of money and instrument companies are in a lot from the non-cash instruments like a credit card human people don t talk about that much about but they re happy to talk up the cost of cash and here again don t reveal is good here is that non-cash payments also cost money and bob are times instrumental. that s what i m gonna
i have no problem with people getting digital payments methods when they ve already been forced to use cash before but that s a very different thing to saying they shouldn t be allowed to use cash or what it what i like that they have the option to use both of them. but actually what a lot of the people are better than cash alliance and so on they re not arguing that that s they re not just saying that there s payments a good thing they re saying we should also get real. of cash. grants can t says that would mean we would only have one form of money in the future. the current system essentially you have two forms of money one s the state money which is cash the other is bank money which is private right it s essentially commercial banks that issue private private monies that where we call it the same thing but you have two forms of money. so not all money is the same on the one hand there is cash in the form of bills and coins these are guaranteed by the currency is central
chaos on the streets huge lines formed outside banks says panic citizens sought to exchange their bank notes what made it worse was that anyone wanting to change significant amounts was required to do so via a bank account something that hundreds of millions of ordinary indians didn t tap. into that even the money if i can t get any money the government is killing us with this program i haven t slept for three days you can t imagine the pressure i m under money. box the government initiative was suddenly six. last fall in one thing it forced many indians to start using a credit card and various payment apps. one common argument is that it s a good thing that millions of people in poorer countries now have bank accounts and access to credit and digital payment systems that certainly the opinion of. head of
bank but most money more than eighty percent only exists in digital form as an electronic figure on our bank accounts this money is created by banks during day to day transactions. in a world without cash customers could no longer withdraw their money from the bank because it would only exist in electronic form if the bank were to fail customers could well lose their wealth. cashless society is essentially a euphemism for saying a commercial bank payments society a private commercial bank payment society that s what cash to society means. so who would benefit most from a cashless society that s what the students at z. can university want to know. today they re listening to norbert herring he s a business journalist who spent years studying the move to do away with cash.
you can get a watch now to pay for things or transfer money it ll even give you a receipt able lazy or otherwise y.c. all this is just the beginning of. a world without cash in sweden that s now or bought a reality whether your buying a ticket for the tram or pass. a meal at a restaurant or cafe. paying for the parking lot. or even the public bathrooms. all you need is a card or mobile phone. it s. still. there but. we ve