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Bill Gates Hates Cash. Here's Why

Young_ChitlinYoung_Chitlin YCN Chief/FCC Member/#RedVelvetSquad Member/IC Task Force GeneralASUville, PhoenixPosts: 22,628 ✭✭✭✭✭
By Peter Coy

Billionaires are known for not keeping a lot of spending green in their wallets. But that’s not why Bill Gates hates cash. He hates it because of its effect on people at the opposite end of the wealth spectrum—the world’s poor and unbanked. The Better Than Cash Alliance, which was founded last September and is partially financed by the Bill & Melinda Gates Foundation, hosted a breakfast today at the World Economic Forum in Davos, Switzerland. Speakers from the Philippines, Colombia, and the U.S., among other countries, made the case for why electronic transactions are better than cash payments.

Top five reasons, according to the alliance:

Transparency: Less corruption and theft when payments can be easily tracked. In Afghanistan, U.S. aid agencies use it so workers aren’t so vulnerable to robbery.

Security: The money gets where it’s supposed to go.

Financial inclusion: Electronic payment is a way for unbanked people to establish a record of on-time payment of their bills. This can be an “on-ramp” for them to get other services, such as loans, speakers said.

Cost savings: Moving physical cash around is costlier than zipping electrons. Many poor people, however, still find it cheaper to use cash, because some cashless networks charge high fees.

Access to new markets: This benefit is mainly for providers of financial services.

Kenya is a role model for the developing world when it comes to cashless payment. Its M-Pesa network, launched in 2007, has agents “on every block,” says Neal Keny-Guyer, chief executive of Mercy Corps, a nonprofit that’s a member of the alliance. Mauricio Cárdenas, Colombia’s minister of finance and public credit, said in an interview that he hopes within the year the national legislature will pass a law allowing nonbanks to take in cash and issue electronic vouchers.

The key is ensuring that the people who take in the cash are as well-supervised as bank tellers. “We see this as a first step,” Cárdenas said.
¡No contaban con mi astucia!
5 Grand wrote: »
I see a lot of people saying they'd "give" family members money.

Thats not what you want to do.

You want to set up a trust fund so they get a monthly payment. You can set up a trust fund so your mother gets, say, $10,000 a month for the rest of her life. According to my math, $10,000 per month for 20 years is $2.4 million. That's better than giving her $2.4 million up front because she can blow it all in a matter of days and then she'll want more and you'd feel obligated to give it to her.

So if you win, don't "give" anybody anything. Set up a trust fund.

Now that I think about it, I could set up a trust fund for my brother. I'd give him $10,000 a month. He's about 45 now so $10,000 per month for 40 years is only $4.8 million. That makes more sense than giving him the money in one lump sum.

AggyAF wrote: »
Anyone else think it's crazy only about 10 posters regularly post here and we got damn near 500 pages?

All the other sports threads on here are people with hobbies. This is football - the beautiful game. We eat, sleep and drink football.

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Replies

  • StoneColdMikeyStoneColdMikey mikeyismod CHITOWN THE BEST TOWNPosts: 32,943 Regulator
    dumb shit. i don't want nobody knowing what the fuck i'm buying.
    #Mikeyismod2017
    konceptjonesDMIcarnalesflows515Valentinez A. Kaiserunspoken_respect
  • konceptjoneskonceptjones Old School Playa Posts: 12,356 ✭✭✭✭✭
    dumb shit. i don't want nobody knowing what the fuck i'm buying.

    cosign this, but if you use a debit or credit card now, they can already see what you're buying and the gov't is using that data to build behavior profiles.
    i'm not sure which entity leaves people more abused and lost; the Porn Industry or Bad Boy Records.
    miamivice305CashmoneyDuxValentinez A. Kaiser
  • jonojono Right fist = power, left fist = unity Posts: 29,806 ✭✭✭✭✭
    Everything you do electronically is being tracked by the government and corporations who have the inclination to follow it.
    @SoulTrain4 *FMOT*

    For blogs on hip-hop & entertainment:
    http://www.shobizcentral.wordpress.com

    For blogs on politics and other things:
    http://www.jonoaries.blogspot.com

    All blog written by me. If you like what I post on here you should dig the blogs too. I also accept suggestions on blog topics, so feel free to suggest things and also if you are a reader tell others, spread the word. I'll try not to be so lazy and actualy get some writing done.
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,314 ✭✭✭✭✭
    I heard Sweden got rid of physical money last year.

    Another reason to go there.
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
    Plutarchaladdin1978CracceR
  • janklowjanklow god's lonely man. Posts: 8,528 Regulator
    RodrigueZz wrote: »
    I heard Sweden got rid of physical money last year.
    i have a theory we can find some there. someone needs to head to Sweden and report back

    LUClEN
  • Disciplined InSightDisciplined InSight The Clairvoyant One.... Posts: 13,478 ✭✭✭✭✭
    Setting up that cashless society....
    To be a real hood you need more than just a gun. You need ideas.

    tumblr_m9zas2KcdZ1rnneano1_1280.gif
    aladdin1978[Deleted User]
  • aladdin1978aladdin1978 Poo Poo Jenkins- pronounced Pow POW West coastin'Posts: 4,520 ✭✭✭✭✭
    No. Bill Gates hates cash because he's a proponent of the one world currency and RFID chips.
    CTtJgKpXIAAPxX5.jpg
    [Deleted User]CracceR
  • LUClENLUClEN Absence makes the heart grow fonder of someone else Posts: 20,314 ✭✭✭✭✭
    edited January 2013
    Most people fear the idea of a one world government. Provided it is not a ruthless dictatorship I am all for it though.

    The people of this planet are so divided by language, norms, mores, tastes and more that we give no fucks to help those who aren't part of our group. If uniting all countries together would eliminate these divisions I think it could be a good thing for human progress.

    Maybe that's just me being overly idealistic though.
    The rapper from linkin park would body the dudes in the xxxtentacion cypher
    Plutarch
  • goldenjagoldenja Posts: 6,305 ✭✭✭✭✭
    but it smells sooo good
    goldentouchphotography.com
  • CracceRCracceR ૐ☯★♑☮⌘ Posts: 4,346 ✭✭✭✭✭
    nah mayne
    i know its coming but i hope it aint soon
  • PlutarchPlutarch A Tribe Called Fresh Philly, PA, by way of Ca$hville, TNPosts: 3,220 ✭✭✭✭✭
    Man, I'm so conflicted over this. Lot of good and bad. Guess it just depends on some key factors like leadership and responsibility.
    LUClEN
  • Big JamesBig James Posts: 345 ✭✭✭✭
    Fuckoutofherewiththatbullshit!
  • Ajackson17Ajackson17 On the shoulders of Giants and Elders in history UniversePosts: 22,398 ✭✭✭✭✭
    RodrigueZz wrote: »
    Most people fear the idea of a one world government. Provided it is not a ruthless dictatorship I am all for it though.

    The people of this planet are so divided by language, norms, mores, tastes and more that we give no fucks to help those who aren't part of our group. If uniting all countries together would eliminate these divisions I think it could be a good thing for human progress.

    Maybe that's just me being overly idealistic though.

    People are going to differ on opinions and such. We need to LEARN to accept people for who they are if we are gonna to truly fix our society and other cultures.

    Main Topic: This is good and bad. There are just as many good reasons why it's good and why it's bad. If the people who were maintaining this system weren't pieces of shit than this would work really well.
    tumblr_mb0d6eD9dS1r7bmo8o1_500.gif


    Big JamesPlutarch
  • ploccplocc Posts: 921 ✭✭✭✭
    America would never go for this. Its built on corruption and fuckery. That shit would wipe out the drug trade which is a huge part of the economy whether they want to admit it or not.
  • KNiGHTSKNiGHTS Mr. Fifth Letter Your ConsciencePosts: 4,411 ✭✭✭✭✭
    plocc wrote: »
    America would never go for this. Its built on corruption and fuckery. That shit would wipe out the drug trade which is a huge part of the economy whether they want to admit it or not.

    It's dudes out here moving major weight on PayPal. The drug game gives no fucks about cash or credit, so long as people paying, they're supplying.
    WYRMPlutarchLUClEN
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