10/12/2022
I have €50 cash in my pocket. Going to a restaurant I pay the €50 cash for dinner. The restaurant owner then uses the €50 cash to pay for the laundry. The laundromat owner then uses the €50 cash to pay the hairdresser. The hairdresser will use the €50 cash for shopping. After an unlimited number of payments, it will still remain €50 cash, which fulfills its function for anyone who uses it for payment, and no need for banks on every cash transaction.
BUT if I had paid the restaurant digitally, the bank charges a 3% fee for my payment transaction, which is €1.50. After 30 digital transactions the initial €50 will become €5 and the remaining €45 is property of the banks thanks to digital transactions.
Paying in cash gives you freedom, control and privacy.