Tiny new device out called the "Square" plugs into a cellphone and allows credit/debit cards to be scanned. Big advantage for small business people, considering the prevalence of younger people who carry no cash at all. Witness card readers at all the fast food joints nowadays.
Mark my words, and I'm telling you I have been extremely accurate with predictions of this type over the past 20 / 25 years. This is one more step leading up to the government doing away with paper money entirely. So what, you say?
The government will be able to track not only every cent of your money, but also where it came from and where you spent it. Ah, think of the tax ramifications! Yes sir, we can collect taxes we're missing now from the "underground economy". They'll just electronically whiz taxes out of your accounts and into their coffers.
We ALL need to stay informed and politically active to squash these kinds of things,
Dumb Farmer
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