meta_pixel
Tapesearch Logo
Log in
Motley Fool Hidden Gems Investing

The War for Your Wallet

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 7 August 2022

⏱️ 32 minutes

🧾️ Download transcript

Summary

"We want a cashless society." That's what Bank of America CEO Brian Moynihan said in 2019. And while the war on cash may be a strong trend for investors, it's also important to understand the implications of a world that only takes cards (or Apple Pay). Jason Moser caught up with Brett Scott, author of the new book “Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets” to discuss: - Incentives in the war on cash - How money transforms when it moves from your wallet to a Venmo account - Why cash is like an emergency staircase - How COVID changed the way we use money Stocks mentioned: BAC, V, PYPL, SQ, MA Host: Jason Moser Guest: Brett Scott Producer: Ricky Mulvey Engineers: Dan Boyd, Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

You know, I might find it useful to use a

0:03.8

elevator to get to the top of a skyscraper,

0:06.8

but that doesn't mean I want the emergency stairs removed.

0:09.8

All right, and in many sense,

0:12.4

as the cash system is kind of like the emergency stairs

0:14.8

of the payment systems, extremely resilient,

0:17.2

doesn't go down when the power goes down,

0:19.2

when the hurricane hits.

0:20.8

So actually it's an extremely important system

0:22.8

and actually it's more advanced to many situations

0:24.8

than digital payments are.

0:26.2

I'm Chris Hill and that's Brett Scott.

0:32.2

He's the author of the new book, Cloud Money,

0:35.2

Cash, Cards, Crypto, and the War for our Wallets.

0:39.2

For the past five years on this show,

0:41.2

we've talked a lot about the War on Cash,

0:43.2

but today we're taking a closer look

0:45.2

at the other side of the War on Cash.

0:48.2

Jason Moser interviewed Scott

0:50.2

about the implications of moving toward

0:52.2

a cashless society,

0:54.2

how money transforms when it goes from your wallet

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from The Motley Fool, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Motley Fool and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.