37 Comments
May 8, 2023Liked by Brett Scott

It's point 4 that finally answers the question in a way that can be used in the pub. the bike/uber analogy, I think, nails it. other analogies (such as lift/stairs) are also helpful.

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For sure - let's popularise it now

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May 8, 2023Liked by Brett Scott

Right on target Brett! If we allow cash to fade out of use it’s never going to come back. Society needs to think deeply about the consequences for the less affluent and about the powerlessness of the individual in an entirely digitally controlled world.

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Absolutely

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Oct 6, 2023Liked by Brett Scott

Very good arguments presented here 👍 we need people in charge to actually look at these types of concerns instead of only listening to lobbyists, which are ONLY trying to increase their companies value and control 🙈

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Hear hear Dan

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Sep 17, 2023Liked by Brett Scott

brilliant work. I was kinda sure we needed to keep cash, but you explain why perfectly and with astounding clarity. I loved the uber/bicycle metaphor as well as the casino chip metaphor. Also you're quite correct to challenge the "narrative" of Big Banks and Megacorps. It is all about controlling the narrative; as many corrupt governments, companies and institutions, and the people who run them know full well.

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Really glad you find this useful Mike. More to come!

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May 12, 2023Liked by Brett Scott

Great article Brett. I'd also like to point out that a cashless system will also end up being more expensive and maybe even less efficient.

To take your Uber argument one step further, you only need to look at Singapore. Here the gov allowed Uber and Grab to decimate the taxi ranks and then, when their "low prices and discounts" (typical digital carrots) had almost beggared them, they were allowed to merge and operate without competition for over a year, until Gojek (another Uber lookalike) showed up. The average fares are much higher today than they ever were before as they look to recoup their losses, the common or garden taxi is tough to find and impossible to hail, and I'm still not sure if the two companies in question are any more profitable than they were before - a real worry.

My fear is that a cashless society will not only have to surrender privacy, autonomy, resilience and choice; it may very well end up paying more for it.

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Absolutely - thanks for the insights Ateesh. Your points about the taxi services make a great addition to my transport metaphor. Once market domination is achieved, monopolists (or oligopolists) get to call the shots on many things, including prices for their services

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Excellent article! I am a newer subscriber and working to read through your introductory links. Thank you for doing this. This is a subject of much importance and one that I continually strive to learn more about.

As someone who works in local food systems, and has studied currencies, I see overlap between what is happening within both systems.

Again, thanks for writing this. Looking forward to the next part.

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I'm really glad that you like it Liz! And yes, I'm sure there is a lot of overlap - many of the processes that are going on in all systems are linked together. Thanks again for the support

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Interestingly, a cashless society is a way for companies to continue and scale consumerism. It’s too easy to buy crap when all you need to do is click a button. Is this what we want for our world?

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Feb 3Liked by Brett Scott

Hi Brett. I'm so glad I came across your Substack - it's invaluable. You explain things in a way that even I can understand! I'm very tempted to take out a payed subscription: just might need to juggle round some others first ☺️.

Is Part 2 of this coming out soon, by any chance?

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Hi Helen, the Part 2 is in the works, though I may rename it to something else. I have one sub-section called Cashback where I'm going to collect all my cash-related pieces. You can find it here https://www.asomo.co/s/cashback

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Aug 4, 2023Liked by Brett Scott

Loving your insights Brett, and so wish I could hear you strumming your guitar again. Hopefully one day soon.

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That would be great Marc! Which city would I have to come to?

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Aug 8, 2023Liked by Brett Scott

Cape Town, or somewhere in middle Italia... possibly moving there in a month or so. Also, I have joined a choir.... loving it. Would like to give some more Bell & Sebastian numbers a go.

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Jul 22, 2023Liked by Brett Scott

This is great, thank you!

It's all good, but I thought the particularly powerful part was bikes vs Uber, when you compared complete digitisation to complete uberisation. But I fear many won't have made it that far. Worth breaking out into a smaller standalone piece?

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Really glad you like it Simon. I like the idea of a standalone Uberfiction piece. Will work towards doing that in future

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One more, tiny, typo

Cash, by contrast, in inherently inclusive

in-->is //is inherently...

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author

I should hire you as an editor! Thanks again

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The problem with checking a native speaker's English and getting PAID, is if I can't find anything wrong. So alongside that, if you let us also translate it into Japanese for you, it would make more emotional sense. . . 🤣

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"Cash withdrawals spike" -- not really in the modern, American, experience for some long time now--bank runs--until, very surprisingly, this year. Taking a look at those panic cash withdrawals--not withdrawn in coin, but simply transferred to other banks. Surprisingly, if we weren't suddenly living in such extraordinary times, that is.

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Well they certainly spike when a hurricane approaches, or a global pandemic

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Typo

"Not only can you come across as reasonable when arguing for cash, but you can also come across as a lot more innovative and imaginative that the average mainstream pundit." "...that the average mainstream"-->"than the average..."

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Thanks Tom - I just corrected it

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Thanks, Scott, for that brilliant defense of cash. I've shared it widely.

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Thanks so much Thomas, I'm glad you've enjoyed it

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May 9, 2023Liked by Brett Scott

Thank you, as always!

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May 8, 2023Liked by Brett Scott

Always a fascinating read, Brett, and you're on to something with the bike/cash analogy...

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Thanks for the feedback Joe

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