Trinidad and Tobago: Opposition leader Kamal Persad-Bissessar says 'No' to cashless society

Trinidad and Tobago: The Leader of the Opposition and Political Leader of the United National Congress, Kamla Persad-Bissessar has strongly opposed the move towards a cashless society in Trinidad and Tobago.

She said the significant dangers of such a system include the potential loss of financial freedom, government overreach, and the risks posed to ordinary citizens.

Persad-Bissessar emphasized that cash represents independence, privacy, and freedom from state control. "They are talking about a cashless society. Tonight, on behalf of the UNC, we say no to removing cash. We say no to cashless society," she outlined.

The Opposition Leader continued to explain that a cashless society means a place where the banks will own everyone's money, and it is one where the government can block people from taking out their own money on a Sunday as a form of punishment or retaliation.

She noted that there will be no freedom as the bank will determine which day people could come and pull money out of their accounts.

While citing an example, the opposition leader stated, "The bank closed down for a week. Where are you getting money? Where would you get money? The bank can seize your account with instructions from the government. And you will have no access to any money. You know, this happened to the truckers in Canada during a strike, and the government seized all the truckers' accounts on strike. So this is a very dangerous something."

She called the incumbent government dictators and said, "We cannot take the chance." Kamla Persad also noted that cash is freedom; it is independence from control by the state, and people will have no privacy in a cashless society as their private information will be at risk of being hacked. 

"What if a natural disaster hits and we have no electricity for a few weeks? How you're getting money? That's one aspect of it," stressed the leader, who noted that that is people's freedom to use their money when and where they want.

Not only this, but she also highlighted that once they do it in a legal manner, every transaction they make with the card carries with it a cost, a fee for the card company and the bank as well as unseen taxes, forcing the consumers to pay an extra amount than usual. 

Persad Bissessar continued to say, "The hybrid system we have now with the digital currency, and cash is the best option at this time." She said people had a right to spend and save money in whatever way they wanted.