Where's my share dammit! Basically there's this much cash for every Australian: $5 x 6.5 = $32.50 $10 x 4 = $40 $20 x 6 = $120 $50 x 21 = $1050 $100 x 9 = $900 $2145 (rounded to whole notes) Which at the end of the day, is not a lot of cash. If you're planning to have some aside as physical cash, I'd start with these numbers, and maybe increase the holdings of smaller notes. Anyone know the face value of 1 troy oz of $100 AUD notes?
How can they not know why? Obviously physical cash has to be printed so of course they know where it came from.
Remember there was about a billion in cash withdrawn from Australian banks during the 2008 trailer for the GFC, and this "mattress money" was never re-deposited.
I just came back from the bank about 30 minutes ago, inside there was a sign that read: MONEY BETTER IN YOUR POCKET THAN THE BANKS I concur.
No surprises there http://forums.silverstackers.com/topic-6059-australia-and-money-supply-growth.html
Thanks - I had heard 1 gram per note, but hadn't been able to confirm. So... when the price of gold hits $3100 AUD an ounce - there will be an entirely new dynamic for physical prices. It will be more compact and lighter for people to move gold than cash. I reckon illicit demand for gold will skyrocket. This price should be considered a red flag for sovereign risk to physical gold ownership.
Wise Words ... Just like when the 500 Euro note came out, it started to take over from the $100 bill as a denser store of wealth. The Aussie notes were better than the US notes for storage as the 1) have a better long term outlook, and 2) are waterproof and can be bagged and buried in lakes if need be. But when a lump of gold costs more than $3100, then nice stackable gold will be the best option. Not coins, but stackable square bars.... And don't bother with the packaging neither. Space is at a premium. Valcombi bars are looking good there
The high denomination notes are mostly used by criminals to move money around. Particularly the 500 euro, you can get a lot more of those to a suitcase than you can the $100s ...police found nine out of every 10 of the notes in circulation are linked to crime, tax evasion and terrorism. http://www.telegraph.co.uk/news/ukn...tes-withdrawn-over-organised-crime-fears.html This maybe why $100 is the highest denomination in Australia, I remember being in the Banknote museum in Sydney at the RBA (I think it was Sydney) and back in the old days they removed the highest denomination as it was also being used by criminals, I think it was something ridiculous like ten pounds or 10 shillings or some tiny amount!
Another example: 90% of all U.S $100 bills contains minute traces of cocaine. http://articles.cnn.com/2009-08-14/health/cocaine.traces.money_1_cocaine-dollar-bills-paper-bills Doesn't 90% of all US$100 bills have been handled by producers/distributors/end-users; once these bills are deposited into banks they are bundled with other $100 bills and riffle-counted which transfer the product onto other $100 bills.
