I'll lose some of you with this.
I'm OK with that.
Recently, I was fined by the IRS for paying employee withholding funds with a personal check. Not for refusing to pay, or shorting what I owed, but because I paid with a check.
By law, the IRS requires electronic transfer of funds to make those payments.
I tell people that we're moving toward a cashless society, eventually requiring the implantation of a chip in our bodies. Not only will this chip be required to buy or sell, but also to track our movements.
People roll their eyes, etc.
Well, here's what happened when a man recently tried to pay his mortgage at Bank of America with cash:
On my dollar bills, it says:
This note is legal tender for all debts, public and private.
Is it now?