[PeterStuer]

There is a global 'war on cash' by the finance lobby because they can easily insert fees on every electronic transaction, while at the same time hyper-virtualise their operations.

Lose all those branch offices and ATM's that need to be maintained and supplied. Just have a computer, a banking app and some AI bots and you can do it all with near zero cost and rentseek the hell on every single transaction for the 99%.

Tell the public sector it is all in the name of combating 'tax-evasion', you know, the evasions you make possible by lobbying for very convoluted taxation regimes with many always changing backdoors you are advising your 1% clientele on.

[rimliu]

Do you really think maintaining infrastructure for electronic payments and internet banking is "near-zero cost"?

[PeterStuer]

Compared to traditional banking real-estate, employees, physical operations and security ... yes.

[rimliu]

"Near-zero“, really?