Is The Government Getting Rid Of Cash?

The foreigner comes from Wesley in Arizona. I've been hearing, oh man, every time someone starts

getting

here and, oh, here we go. I've been hearing more and more in the news recently about the

government

looking at digital currency, is it eliminating

cash

and if so should I be worried? Some suggest taking money out of the bank and investing it in gold or silver. It's not something I'm comfortable with, but I don't want to waste my money. They are coming for us. Dave, you have some. Brace yourself inside you, oh, way down, I'm worried about some and I've been hearing, yeah, they're coming for us, they said and I heard, or a really bad financial planning company, especially when you're taking it out.

Internet because everything on the Internet is true Abraham Lincoln said that, so okay, first let's understand that real paper money is a very small percentage of our economy, because when you sell to someone, when you write a check to someone , when you use your debit. card to someone when you have an automatic withdrawal from your checking account to someone 100 of the money that was transferred was digital money you never wrote me a real check Dave it just gets deposited into my account right yeah all my payroll hasn't ended real money it's does with digital money, enter the UFO music, okay then, buddy, here we go.

I don't know what the percentage is, but what would you guess? I mean, what percentage of our economy is paper money and what percentage is digital transfers. We just discussed, we just guessed, I would say 95 at least yes, very high in the 90s, it has to be our digital transfers. This is what I know. I recently bought some concert tickets for a group of us and asked everyone for my money back. I still don't understand how to get Venmo from Venmo into my checking account, so I was like, "Hey, guys, you gotta bring me checks and you guys." You could also say, "Hey, I love you all." home for dinner that's what it was like they looked at me like I was from Mars and they all wrote checks and they all wrote it like they wrote with their feet like they didn't know how to do it the way little kids wrote the check, yeah, and Sheila said, man, I don't know how do you have a friend, did they graduate from us, Wesley, you and I, brother, we can count our silver coins when everything goes to hell, so, really, my point is?

Eliminating

cash

and coins wouldn't really disrupt most of the economy most of the people most of the time most of the people most of the time I mean, I was at the gas station the other day and a guy bought a pack of gum with your debit card. card and I'm like, you don't really have a dollar, I mean, you don't have two dollars, I mean, he, because people just, I mean, especially depending on your age group, right, old fart like me, I always have a couple of hundred. dollar bills I have a redneck emergency fund, there are always thousands, thousands of dollars, thousand dollars and hundreds hidden somewhere in my clothes, right, but uh uh oh, my God, but yeah, but young people are like oh everything is digital so we are.

We're not making fun of you, we're just pointing out that digital is already a way of life, so don't panic and no, there are no credible indicators that the

government

is going to eliminate paper money. I think this was there. There are some incredible indicators that are going to disappear on a dime because it costs more than a dime to fix one and, man, literally, yeah, they're losing money producing pennies that no one uses correctly, you know, so, you know, then we'll probably see. some of that, but there is some discussion about digital currencies and I think that when the Bitcoin thing went crazy, those who were into everything new are going to go bankrupt, it is the technology that is going to be great in the future.

Yeah, the technology will probably end up being usable, I mean, everything like I imagine there was an uproar when they abandoned when the debit card came out and then direct deposit came out and I think there's always a delay in that type of technology. and it is what it is and there should have been an uproar when the IRS had the incredible genius of withholding your taxes from your check before you got your check, that was great, yeah, that created a whole country of sheep, yeah, and because I have to tell you that if you had to stand in line somewhere and hand hundred dollar bills to someone called a tax collector to pay your taxes out of your check every week, there would be a revolution, oh honey, it would be like pitchforks. and burn the monster, I mean, they would be torches, can you imagine?

Oh, that's how cool this transfer idea is, hey, we'll take care of having you, yeah, it's low friction, we'll make it easy for you. pay your taxes and then you can go to sleep and we will take all your money. I remember during Covid when they said, hey, we'll just deposit it for you, yeah, and I thought, oh, if they can put it in there, they can do it. just get it out of there, oh, there you have paranoia, oh yeah, there you go, yeah, I told you there's a trainer down there, oh, it's way down there, but it's there, but hey, and I've talked about this on the show before .

Wesley, for those of you who are thinking about investing in gold or silver, this is the reality, um, and this comes from a great quote from one of my closest friends who works in banking in Texas, if everything really goes down , if we do, if we trade. coffee and bullets we have the idea that our lives are going to continue as they are, as if we went to the gas station in our car on the way to our jobs and we handed over a can of bullets and coffee in exchange for gas if we get to where we are exchanging gold coins yes, your neighbor will have already shot you for your water and you will already have like you are eating pets like everything is different at this point and so we will stop falling. because, you know, when everything collapses, you will want to exchange gold bars for what it is not, it won't work that way, there is no failed economy in history since the Roman Empire that has used gold as a method of exchange because of a failed economy no, never once and if they find out you have it once they will come looking for it not once, no that's not The Hedge, know your neighbors, that's the gas can, some new jeans, bullets and coffee, yes.

Those are the ones who are the barter economy, it is what happens in a failed economy and then a new regime arises and they create new bills with its face. This is the Ramsay show.