Imagine if a disaster hits a city/state/country and power supplies is cut 😬

#CoalShortageInIndia #CoalCrisis #cashlesseconomy

If you do not have cash in hand and rely totally on electronic payment, then you are finished 😱🤕

Worth a read Thread...

1/n
The cashless society is difficult to face war and disaster

Japan's Hokkaido strong earthquake triggered a large-scale power outage, and Sapporo City instantly became the dark capital

2/n
During this period, 1.95 million residents rushed to supermarkets and retail stores to buy life supplies

However, some of the victims who usually only use mobile phones have lost their ability to pay and can't buy what they need

3/n
On Sept 6th, an anonymous discussion on the anonymous forum of the Japan Forum showed an article about crazy electronic payment

The Sapporo people who only uses electronic payment is finished!, the article said

4/n
I usually used to use Apple Pay (Pingguo pay), go out without a wallet, and very little cash

In the early hours of the morning, after the strong earthquake, Sapporo suffered a large power outage

He checked his refrigerator and found that only milk and mayonnaise remained

5/n
He rushed to the supermarket to buy living materials

When he arrived at the supermarket, he found that he had no cash at all

He took the iPhone with only 62% of the battery and looked at the Apple Pay screen on his mobile phone

He felt uneasy

6/n
When his number came in queue, the clerk told that he could not use the electronic paying

He can't use it anywhere else

At 7:00 that night, he sat alone at home, hungry

Since the power is not back, cash can't be taken out and there is a feeling that everything is finished

7/n
In February of this year, the Swedish central bank governor Stefan Ingves warned:

He said that the cashless society is unrestrained in the face of war or natural disasters, and the huge social and financial system will collapse in an instant

8/n
Payment function is one of the four functions that money needs to have

Cashless payment is just a supplement to it because it can not be replaced by specific basic conditions (electricity, network, base station, etc.)

9/n
The Sapporo is still fortunate

The earthquake gave everyone a lesson and can correctly understand cash payments and cashless payments

If the large-scale war breaks out and there is a long-term disconnection or power outage, the encounter will be even more serious

10/n
Imagine if disaster hits our country and power supplies is cut 😬

If you do not have enough cash in hand and rely totally on electronic payment, then you are finished 😱🤕

We should always have cash for at least one month at home

END OF THREAD

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with CA Akhil Pachori

CA Akhil Pachori Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @akhilpachori

22 Aug
Thoughts shared by a Senior Chartered Accountant yesterday

The work is slipping out of hands like sand but inaction is at its height.

What an irony that the motto of our ICAI is ‘Ya Aeshu Suptaeshu Jagruti’ which means ‘a person who is awake in those that sleeps’ but..

1/n
but it seems that what is happening is just opposite to it.

In last few years we have been witnessing continuous dent in the traditional practice work. Be it reduction in bank statutory audit work or increase in tax audit limit or introduction of faceless schemes and..

2/n
and at last the removal of requirement of GST audit.

And now encouraged with no/bleek objection from ICAI, the Government seems to be thinking of doing away with audit of companies of certain categories.

3/n
Read 11 tweets
19 Aug
Real story of American Dollar v/s Indian Rupee
(Very Interesting Thread)

An Advice to all who are worrying about fall of Indian Rupee.

Throughout the country, please stop using cars except for emergency for only seven days (Just 7 days)

1/n
Definitely Dollar rate will come down. This is true.

The value to dollar is given by petrol only. This is called Derivative Trading. America has stopped valuing its Dollar with Gold 70 years ago.

2/n
Americans understood that Petrol is equally valuable as Gold so they made Agreement with all the Middle East countries to sell petrol in Dollars only.

That is why Americans print their Dollar as legal tender for debts.

3/n
Read 20 tweets
19 Aug
EVERYTHING HAS A REASON TO BE

After the attacks of September 11, a company that had its offices at the World Trade Center invited its executives and employees who had for some reason survived the attack to share their experiences.

1/n
People were alive for the smallest reasons were small details like these:

- The director of a company was late because it was his son's first kindergarten day;

- A woman was delayed because her alarm clock didn't ring in time;

2/n
- One was late because he was stuck on the road where there was an accident

- Another survivor missed the bus

- Someone threw food on themselves and needed the time to change

- One had a problem with his car, which did not start

- Another one returned to answer the phone

3/n
Read 6 tweets
26 Jun
Gesture of Modesty shown by some great personalities (Thread 👇)

1. Cricketer Rahul Dravid was given Doctorate by Bangalore University, Rahul Dravid returned it. Not only did he return, he also gave a wonderful speech, he said-

1/5
he said - My wife is a doctor, she spent many sleepless nights and days to get this title.

My mother is an arts professor, she waited fifty long years for this degree. I have worked hard to play cricket, but I have not studied that much, so how do I not have this degree?

2/5
2. Einstein was invited by the Israeli government to become the country's prime minister in 1952 Einstein humbly said-I am a noob student of physics. What do I understand of state governance?

3/5
Read 5 tweets
25 Jun
A thread on Anti-virus Pioneer John McAfee's Death👇

- John McAfee, 75, reportedly took his own life in prison in Barcelona, Spain.

- McAfee was found dead hours after Spain’s National Court approved his extradition to the US.

1/5
- In 1987, he wrote the first anti-virus software, founding McAfee Associates Inc. to sell his creation. He resigned in 1994 and sold his remaining stake in the company

- McAfee is wanted in America for tax-related criminal charges with sentence of up to 30 years.

2/5
- McAfee allegedly earned millions from speaking , consulting, promoting crypto and selling his life story rights for a documentary, according to June 15 indictment

-He was arrested on Oct 3, 2020, at El Prat airport in Spain, as he was about to flee the country to Turkey.

3/5
Read 5 tweets
24 Jun
Decoding RIL Effective Tax Rate (ETR) @ 3% (Thread 👇)

- RIL ETR at 3.46% of Profit Before Tax (before Exceptional Items). Last year RIL’s ETR was 23.65%. (85.36% lower than previous FY)

- RIL paid only ₹1,722 Cr tax in FY 2020-21 as compared to ₹13,726 Cr in FY 2019-20

1/9
Why Reliance’s ETR was so down and how did it managed to save such huge sum of tax within the legal boundaries.

There are Mainly 3 Reasons as per explanation given by RIL to BusinessLine on it:
1. Loss on Merger with RHUSA
2. SEZ Allowance
3. Carried Forward Losses

2/9
1. Loss on Merger with RHUSA

RIL merged its US subsidiary RHUSA (Reliance Holding USA) with it, and recognized a loss of ₹33,217 Cr on merger. Due to this, there was an increment in deferred tax assets of RIL by ₹8,517 Cr.

3/9
Read 11 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(