http://www.bloomberg.com/news/artic...ts-goods-movement-in-india-as-atms-remain-dry Truck Drivers Walk Off the Job, ATMs Run Dry After India Pulls Bills From Circulation
More on the India crisis. There's a lot more to this than Indian bureaucratic inefficiency and bloody mindedness. Interesting also to note that actual physical gold has jumped to U$3000.
And now catchy 80's pop song expert Bjorn Ulvaeus is jumping on the bandwagon http://www.afr.com/news/special-rep...cashless-future-20161204-gt3w53#ixzz4S1v865T3
"Head of Product at ING, Tim Newman, said the innovation was a reaction to Aussies turning away from cash in preference for cashless payment systems such as PayPass, payWave and Apple Pay. He also said that Australians hated change and the new system was a way of turning change into something beneficial, rather than being forgotten or thrown away. Research from the bank shows Aussies collectively lose $466 million per year in loose change — or $38.85 million a month. The research, which quizzed 1000 Australians, found 93 per cent of people admit to throwing away five cent coins and 29 per cent have thrown away 10 cent pieces. “The research shows that we’re literally throwing away money by paying with cash." read more at: http://www.news.com.au/finance/busi...e/news-story/a8616b3eeb5f2cec9fd6618166b99e5a I don't believe what the banks say or what their "research" shows ... but people will be rounded up like dumb sheep ...
Two days ago at our local (good sized) Supermarket in Central Victoria the signs were out the front - CASH ONLY. I wonder how many people missed a meal that day. Think of the potential for the thought police to get involved - (with no cash allowed) - to cut off your food, electricity, etc. purchases if you don't agree with whatever the flavour of the month is. _JLG. This computer failure happens about every 3 months.
Ahahah. I just came across this gem from JulieW, Thanks Julie for a good belly laugh. Only trouble was I spilt some of my glass of wine (not Chardonnay, love). Once again. HAHAHA. (what a P!$$ER.) _JLG.
Apparently smoking bans have changed prison currency from ciggies to Ramen noodles. Gresham lives on?
NEW research has found that people who make cashless transactions are more likely to lose track of their spending. "The researchers found that “individuals who pay by card have a less accurate recall of the amount paid than individuals who settle their bill with cash”. That’s a problem for the average shopper, because “a precise recollection of past spending has an effect on the willingness to spend money in the future”. Canstar spokesman Steve Mickenbecker said it was easy to overspend when you couldn’t see your cash actually depleting in your wallet. “It’s no surprise that as cash gets more and more obsolete that it is becoming a bigger and bigger problem,” he said." read more at: http://www.news.com.au/finance/mone...t/news-story/15222db4af403b8c5410b1582b9c349d Physical currency is vital ...
The war on cash is proceeding: Concerns kids can no longer grasp value of money due move to cashless society There are grave concerns that children can no longer grasp the value of money due to the speed our society is moving to a cashless society. Dante De Gori, chief executive officer of the Financial Planning Association (FPA), spoke to 3AW on Monday explaining how parents are struggling to raise 'Invisible-Money Generation kids'. 'They are growing up in a world where technology is greater now...their experience and behaviour, understanding is on the technological side of things rather than the value money.' He said this drastic change from cash to cashless is causing parents to fear that their kids won't understand the value of money. The FPA describe the 'invisible money generation' as those aged 18 years and below for 'whom money is often unseen in the form of online transactions, credit and debit cards, and 'tap and go'.' http://www.dailymail.co.uk/news/article-6078499/Australian-kids-no-longer-grasp-value-money.html ATO says Australian consumers distrust 'cash-only' businesses The Australian Taxation Office (ATO) has published research that shows Australian consumers are more likely to trust a business if they accept electronic payment methods, rather than those requesting payment in cash-only. The research, conducted by Colmar Brunton and commissioned by the ATO, highlighted that Australians have negative views of cash-only businesses, describing them as inconvenient and sparking concerns over the business being dishonest. "The real cost of cash to business seems to be twofold. Consumers are twice as likely to associate 'cash only' as negative rather than positive ... being cash-only may have a direct impact on reputation," Assistant Commissioner Matthew Bambrick said. "Secondly, time is money for business. Tap-and-go payments cost an average of nine cents less than cash payments, and are nearly twice as fast. This research suggests cash-only businesses take a hit to their bottom line by not offering electronic payment." The ATO said that when asked about their reactions to seeing a cash-only sign, nearly 50 percent of consumers said it was inconvenient; while nearly two-thirds of respondents believe business owners that use cash transactions pay less tax than they should and have an unfair advantage over small businesses that do pay tax on all their earnings. https://www.zdnet.com/article/ato-says-australian-consumers-distrust-cash-only-businesses/
Eftpos out after Telstra breakdown A NATIONWIDE Telstra outage has affected numerous Eftpos machines and ATMs, prompting the telco to advise people to carry cash instead of relying on ‘tap- and-go’. read more at: https://www.news.com.au/national/ef...n/news-story/119e758f5b8a22b7f8da08b742b20302 Telstra advises people to carry cash ...
All the café's in my area are in disarray, this is the second day with little or no EFTPOS, the café nearest my building is serving customers and giving them IOU's, they don't have any other choice.
