illegal to purchase anything over $10,000

Silverling said:
I have never paid for anything that big by cash nor have I ever been asked to. It really doesn't affect me at all, I pay everything already by plastic any way, so it's like that for me now.
Click to expand...

They have to start somewhere. Now it's $10,000, next year maybe $5000, and then $2000, and then $1000, and then $100. But before it reaches $100, banks will probably remove their cash ATMs. They would love to do this as it's costly to maintain such ATMs.
 
Oddjob said:
Have a read of this thread from a few months back where Aust bank bail in and the Aust Govt Deposit Guarantee was discussed. Worth five mins of your time.

https://www.silverstackers.com/forums/index.php?threads/bail-in.91207/
Click to expand...
Thanks, I've had a read. It does get rather complicated and I can see why people say it isn't worth much but surely it's better than keeping $1,000's of cash in the house. Speaking from experience, we got robbed one evening and each door and window was locked, they got around $6,000 worth of Jewellery, my wife was in tears. No cash though as we don't hoard any.
 
Silverling said:
Thanks, I've had a read. It does get rather complicated and I can see why people say it isn't worth much but surely it's better than keeping $1,000's of cash in the house. Speaking from experience, we got robbed one evening and each door and window was locked, they got around $6,000 worth of Jewellery, my wife was in tears. No cash though as we don't hoard any.
Click to expand...


Sorry to hear that mate and yes it's an argument for not keeping valuables / cash at home. Fair enough.
 
being robbed at home and being robbed by the bank/govt through bank closures/account freezes; both are unlikely so why not spread the risk and keep some at both places.
 
Oddjob said:
They may even look at $100.00 notes (if Labor gets in) , which apparently is the favourite denomination of the black / illegal economy.
Click to expand...
It`s just an excuse to track everyone and if interest drops under 2% I taking all my cash I will not risk it in a bank for a bail in.
 
Silverling said:
And put it where? I'm genuinely interested.
Click to expand...

Honestly converting it all to Gold as at least it will hold value to the AU$ dump but I maybe to late now as its $100 an oz extra in the last week. but the value is lost anyway I should have woke up quicker.
 
sctpc said:
Honestly converting it all to Gold as at least it will hold value to the AU$ dump but I maybe to late now as its $100 an oz extra in the last week. but the value is lost anyway I should have woke up quicker.
Click to expand...


Still not too late. I won’t hold AUD as I think China is losing the trade war, regardless of how the MSM portrays it. China will run low on USD and all those iron and copper imports for OBOR needs to be paid in dollars.

Personally I hold SGD and USD.
 
sgbuyer said:
Still not too late. I won’t hold AUD as I think China is losing the trade war, regardless of how the MSM portrays it. China will run low on USD and all those iron and copper imports for OBOR needs to be paid in dollars.

Personally I hold SGD and USD.
Click to expand...

everybody lost in paying tariffs, but the exports are blocked etc...China can easily use their USD holdings as commitments for BRI, but just like Russia converting their USD directly into GOLD
for Japan and China, it is a bit different, Japan has their hands tight but China has the flexibility on USD usage
since Japan must not buy Iran oil, China is capable of importing Iran oil
 
You must log in or register to reply here.
Back
Top