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Cock up - or a conspiracy?
Whichever it is, this shortage of coins is a disaster for cash.
Many retailers are looking for excuses to limit cash use and this shortage is a gift to them as they pursue their “cashless” ambitions.
Cash is an essential item on the Payment Choice menu.
The right to use cash is even more fundamental to US democracy than the right to bear arms.
Without cash, the United States citizens who fought for their independence would not have been able to buy the arms to bear.
A growing number of US States have seen enough of "cashless" and the negative impact it is bound to have. They have drawn a line in the sand and told businessess they cannot cross it in a quest to create their "cashless" nightmare.
Time for the Federal Government to act.
Firstly, the Government needs to step in to do whatever it takes to ensure the shortage of coins is sorted out IMMEDIATELY.
Secondly, the politicians in Washington need to draw their own line in the sand, barring businesses in all 50 States from refusing to accept cash.
Time is very short.
Legislation is needed right NOW, if the Government wants to demonstrate it truly has 2020 vision in terms of serving the Public Interest.
https://www.pennlive.com/business/2020/07/giant-supermarkets-limit-cash-transactions-citing-national-coin-shortage.html
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
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Carlo R.W. De Meijer Owner and Economist at MIFSA
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