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The Cashless Money report is an idea or proposal to replace paper cash with CashlessMoney® or electronic money transfers  to deal with our nation's problems.  CashlessMoney® is bank account to bank account money transfers or payments with a bank ATM/debit card or secure credit card on a desktop or wireless CashlessMoney POS (point of sale) card swipe. In fact, a CashlessMoney® economy may be created by demonetizing the paper currency and replacing paper cash transactions with such CashlessMoney® card swipe transactions. In a CashlessMoney® economy, every person and business would have their own card swipe that will facilitate the instant transfer of money "bank account to bank account" with a payment card. A CashlessMoney® card could be one card that could be both an ATM/debit card and a secure credit card; however, all such transactions would require a PIN code to authorize each transaction. The CashlessMoney® card swipe would either be a stand alone device that would plug into a local telephone jack, or it could be a wireless device and taken on the go so that you can facilitate any transaction at anytime. The CashlessMoney® card swipe could even be built-in to your computer keyboard or a cell phone. You would simply swipe your payment card on the card swipe and type in the PIN code to authorize the instant transfer of funds to the recipient's bank account. If we can transfer money from bank account to bank account with a payment card on a card swipe, there may be no need for paper cash. This could make it possible for a CashlessMoney® economy.  

In a Cashless Money economy, paper cash would be replaced with PIN secured debit or credit cards which will allow money to be transferred person to person electronically; thus replacing the need for paper cash and creating a permanent money trail on every money transaction which will enable us to stop crime, the illegal drug trade, terrorism, illegal immigration, human trafficking, counterfeiting, high taxes, corruption, and high taxes!

“Physical paper cash is non-traceable, unaccountable, easy to hide or lose, steal, counterfeit, and spend without a trace. As such, paper cash has allowed all sorts of criminal activity to thrive. However, in a CashlessMoney economy, this will change overnight. In fact, certain crimes would be eliminated altogether. Violent crimes; such as, bank and ATM robberies, store holdups, armed robberies, employee cash theft, armor car heists, kidnap for ransom, armed muggings and purse snatchings would be significantly reduced, if not entirely eliminated because there will be no physical paper cash to steal.” Since most crime revolves around paper cash, many criminal or illegal activities (bank robberies, prostitution, illegal drugs, counterfeiting, human trafficking, corruption, etc.) would either be eliminated or drastically reduced.  The illegal drug trade and human trafficking are "cash" businesses, and in a CashlessMoney economy all illegal enterprises will be completely disrupted. Additionally, CashlessMoney® is a peaceful and non-violent method for preventing crime, drugs, illegal immigration, immoral activity, and terrorism, and will assist law enforcement in their crime solving efforts and make their jobs much safer.   

Paper cash fuels the underground and criminal economies as paper cash subsidizes criminal activity and rampant tax evasion, and the law abiding tax payer must bear the additional tax burden which costs the U.S. and state treasuries up to $600 billion annually.  Paper cash and inflated income taxes encourages people to migrate to the criminal and underground economies which places the additional tax burden on lawful taxpayers and businesses. Income taxes on lawful taxpayers are inflated because the criminal and underground economies do not pay taxes.   In a CashlessMoney® economy, everyone will pay their fair share. This could equate to a tax cut for lawful taxpayers in the form of monthly tax rebates for all Americans.  The hundreds of billions of dollars that the underground and criminal economy siphons from the lawful economy could be better utilized as tax rebates, health care for the uninsured, or perhaps utilized to stabilize the faltering banking system.

The Cashless Money report was developed to end the senseless violence in the inner cities with the primary goal of helping the poor exit the poverty cycle.  Paper cash has not only fueled crime, violence, and the illegal drug trade in the inner cities, but paper cash has caused lower income people to become dependent on cash payments as opposed to maintaining bank accounts. The CashlessMoney® proposal intends to solve this by encouraging all people to open funded bank accounts (via monthly tax rebates) so that they can save and protect money which can give them a better opportunity to progress out of the poverty trap.

In the CashlessMoney® report, we will discuss how CashlessMoney® can stop crime, the illegal drug trade, terrorism, illegal immigration, human trafficking, counterfeiting, corruption, identity theft, and create tax rebates as well as a more prosperous, honest and peaceful economy. We will also discuss how the banking industry will need to embrace the CashlessMoney® revolution and reinvent the credit card, how the poor will benefit, the privacy issues, why we must retire the $100 bill immediately; and why we must "Trust in God" if we are to consider CashlessMoney®.

Time to Retire the $100 note?: Smoking out the terrorists, criminals, and drug dealers,  Click here

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Cashless Money---Enhancing the common good and restoring public order.