Banning cash and NEGATIVE interst rates.

Court Jester said:
this gold buff is pretty convincing


https://www.aliexpress.com/item/329...chweb0_0,searchweb201602_9,searchweb201603_60
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Mmm you do realise that AliExpress seller is just using photos of real coins...:rolleyes: I'm sure the one you get in the mail will look bad and after paying about $170AUD be super pissed off. Come on mate get your game on.

Compare the yolanda's coin dragon compared to the Apmex dragon. Yep same photo and i doubt Apmex was ripping off yolanda's photo :D Well on the good news, there are still no good fake coins.

https://www.aliexpress.com/item/33022430595.html?spm=2114.12010608.0.0.5362306615zAsL

https://www.apmex.com/product/4760/2000-australia-1-oz-gold-lunar-dragon-bu-series-i

fake coin.jpg
 
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Oddjob said:
Various industry groups such as CPA Aust (the arch enemy of Chartered Accountants Aust / NZ who support the bill and a lower level) and Australian Chamber of Commerce are lining up against this legislation. Was a topic of discussion on radio this morning and the CPA rep was on to talk.

https://www.abc.net.au/news/2019-08...make-you-a-criminal/11429230?section=business

On the ABC today too.

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WTF. The ABC were playing shots of what appears to be an illicit drug website while John Adams was speaking? Even if illicit drug sales are part of the "black economy", I seriously doubt any of those criminals would think twice about a cash ban. They're already doing something highly illegal, possibly resulting in decades of jail time, why would they care about a cash ban? I can imagine how their business might suffer: "Na mate, I can't sell you that much in illegal drugs, it's over the $10,000 cash ban limit."
 
leo25 said:
The Krugerrand is a bad fake. But at least this guy is showing you what his fake really looks like. :p
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It's not that bad and there are pics of the buffs from other sellers again they are pretty convincing and the bars are almost 100% spot on

But I guess to you even if it was a 99.9999% exact copy I'm sure you will still call it a bad fake
 
Court Jester said:
It's not that bad and there are pics of the buffs from other sellers again they are pretty convincing and the bars are almost 100% spot on

But I guess to you even if it was a 99.9999% exact copy I'm sure you will still call it a bad fake
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The edge details on the Krugerrand is a easy giveaway (well at least for me). Again i agree that fake bars are hard to spot from a photo. Now if your original comment was directed to bars then there would be no issue, but you said coins.

All the photos on yolanda's coin page are of real coins. ;) The Buffalo photo was taking from this site. https://www.usmoneyreserve.com/shop/gold/1-oz-gold-american-buffalo-coin/ yolanda's coin is a real piece of s#*t. Though most people on AliExpress are.

If a coin looked even 90% good, i would be more then happy to call it a good fake and create a thread warning everyone about it. Anyway seems you too agree that good fakes (being indistinguishable) don't exist as the only really good "fake" you could find turned out to be photos of real coins.
 
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implication for cash people, you would have a rough time getting clear of being a bankrupt
owe > 10k, can't use cash to settle the debt
if you paid >10k in cash, both the debtor and creditor are in violations of the law
creditor become bankrupt, since then he is upside down.
for a debtor, he now got penalized to be deeper in debt both the the govt and the creditor which had been bankrupted (both are now criminals)
 
alor said:
implication for cash people, you would have a rough time getting clear of being a bankrupt
owe > 10k, can't use cash to settle the debt
if you paid >10k in cash, both the debtor and creditor are in violations of the law
creditor become bankrupt, since then he is upside down.
for a debtor, he now got penalized to be deeper in debt both the the govt and the creditor which had been bankrupted (both are now criminals)
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not quite the law as it stands CURRENTLY does not apply to private individuals
 
Court Jester said:
not quite the law as it stands CURRENTLY does not apply to private individuals
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WRONG the regulation as it stands excepts private individuals and the minister can change it who, how much, what including crypto and the amount KPMG are asking for $2000 to help get there new cashless system up and running quicker.
The bill will even ban you putting $10000 cash into your bank.
 
Court Jester said:
not quite the law as it stands CURRENTLY does not apply to private individuals
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Yes it does, for real estate, bank deposits, bank withdrawals, buying things from businesses (cars, bullion ... etc) . Also, it's not just physical fiat currency. Cash = physical cash, crypto, and precious metals.
 
need 4 wives to make payments in cash of up to 10k, so will not break the law...living together
good business plans
 
Court Jester said:
not quite the law as it stands CURRENTLY does not apply to private individuals
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not yet a LAW...currently a bill, also the version of the said bill that is available to the public is a exposure draft and the actual bill that was put to parliament contained more restrictions than the draft and applies the cash ban to all parties including private individuals
 
herkyderky said:
not yet a LAW...currently a bill, also the version of the said bill that is available to the public is a exposure draft and the actual bill that was put to parliament contained more restrictions than the draft and applies the cash ban to all parties including private individuals
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if its not available to the public how do you know this

I suggest your tin foil hat needs adjusting
 
willrocks said:
Yes it does, for real estate, bank deposits, bank withdrawals, buying things from businesses (cars, bullion ... etc) . Also, it's not just physical fiat currency. Cash = physical cash, crypto, and precious metals.
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no it does not between 2 x private individuals set a limit

the limits only apply to businesses accepting cash payments

after this bill passes it would still be legal for me to give you 11k for a car sales ( as long as you not a car dealer)

please learn the facts before you cry conspiracy and maybe your tin foil hat also needs adjusting
 
sctpc said:
WRONG the regulation as it stands excepts private individuals and the minister can change it who, how much, what including crypto and the amount KPMG are asking for $2000 to help get there new cashless system up and running quicker.
The bill will even ban you putting $10000 cash into your bank.
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again as I saidt as it CURRENTLY is it exempts PRIVATE transactions

are you mentally retarded or just have a reading disability
 
Court Jester said:
no it does not between 2 x private individuals set a limit

the limits only apply to businesses accepting cash payments

after this bill passes it would still be legal for me to give you 11k for a car sales ( as long as you not a car dealer)

please learn the facts before you cry conspiracy and maybe your tin foil hat also needs adjusting
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Court Jester said:
again as I saidt as it CURRENTLY is it exempts PRIVATE transactions

are you mentally retarded or just have a reading disability
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Show us where it exempts individual to individual transactions?


entity.png

offence.png
https://www.treasury.gov.au/sites/default/files/2019-07/Exposure draft - Currency (Restrictions on the Use of Cash) Bill 2019.pdf
 
Court Jester said:
if its not available to the public how do you know this

I suggest your tin foil hat needs adjusting
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The bill was subject to a parliamentary first reading on the 19th of september and the details of that reading where different than the initial exposure draft that was available for public review.
willrocks post shows plainly that the bill intends to restrict ALL private individual transactions over $10K as there are no provisions for an exemption but all the legal wording for a total cash ban
 
herkyderky said:
The bill was subject to a parliamentary first reading on the 19th of september and the details of that reading where different than the initial exposure draft that was available for public review.
willrocks post shows plainly that the bill intends to restrict ALL private individual transactions over $10K as there are no provisions for an exemption but all the legal wording for a total cash ban
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There are actually exemptions, but they do not form part of the law. They are placed in another statutory instrument (i.e. can be changed at any time without parliament) called the "Currency (Restrictions on the Use of Cash— Excepted Transactions) Instrument 2019". The minister could change this instrument at any time for any reason, without oversight.
 
Court Jester said:
again as I saidt as it CURRENTLY is it exempts PRIVATE transactions

are you mentally retarded or just have a reading disability
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The draft makes it clear that individuals are lumped in the definition of an "entity". Read it and you will weep.

As willrocks points out, exemptions are made, but subject to ministerial oversight, meaning that the power to define what is exempt is with a government minister, nothing more, nothing less.

That is vastly different to what we have now, the ability to transact with each other without such authoritarianism.
 
an
willrocks said:
There are actually exemptions, but they do not form part of the law. They are placed in another statutory instrument (i.e. can be changed at any time without parliament) called the "Currency (Restrictions on the Use of Cash— Excepted Transactions) Instrument 2019". The minister could change this instrument at any time for any reason, without oversight.
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and the exemption as i said CURRENTLY exempt transactions between individuals to the $10k limit

your quoting a section from a completely different bill is irrelevant
 
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