Australian wallets stuffed with cash

Discussion in 'Currencies' started by goldpelican, Sep 23, 2012.

  1. goldpelican

    goldpelican Administrator Staff Member

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  2. trew

    trew Active Member Silver Stacker

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    :eek:

    Gees it's not just fake coins/bars you have to be on the lookout for!
     
  3. willrocks

    willrocks Well-Known Member Silver Stacker

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    The reason people need more notes is they've lost so much value since 2002.
     
  4. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Interesting choice of words. Alarming = not as easy to track as EFTPOS.
     
  5. Guest

    Guest Guest

    Not to mention the massive surge in private Australian debt.

    The M3 also exploded in the last decade, which doesn't make this cash 'explosion' actually look that impressive in all honesty.

    I've covered this before on SS : http://forums.silverstackers.com/message-12271.html

    [​IMG]

    Triple the money supply and wonder why people have a few more bucks in their wallet?

    Shit aye? Who'd have thunk it?

    :rolleyes:
     
  6. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    I've been hoarding cash for about 2 years now (after Naphalene Man tought me about the $5 slip ;) )

    I personally must remove 20-30 $5 notes from circulation each month!
     
  7. willrocks

    willrocks Well-Known Member Silver Stacker

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    It's funny how the media doesn't use the word "alarming" to describe real economic problems. Such as debt levels, inflation, expansion of the monetary base. Rather it's only alarming when people use cash instead of electronic currency.
     
  8. malachii

    malachii Well-Known Member

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    Mate - I have 5 kids and a wife - I haven't seen a $100 note in my wallet in years!!! I'm lucky if there are coins left in there by the time I get to open it!

    malachii
     
  9. Golden Boy

    Golden Boy New Member

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    Ive heard about this before something about not spending $5 notes? does anyone know what the thread was called so i can search for it?
     
  10. hiho

    hiho Active Member Silver Stacker

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    bollocks, this is just propoganda to justify the expansion of the money supply. Blame Joe Blo for the infationary cycle
     
  11. Mud Gecko

    Mud Gecko Active Member Silver Stacker

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    I started doing this after I read that thread, after I got to 120 notes I realized they take up too much room and started collecting $10 notes :p
     
  12. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    You have to iron them out under a moist tea towel. Drooling over your notes really helps the process :lol:
     
  13. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    I can't find the thread either, but here's a summary from what I remember:

    - Don't spend $5 notes when you receive them as change.

    - Clean out you wallet or purse at the end of the day, put $5 notes in a drawer/box/envelope/jar.

    - Clean out drawer/box/envelope/jar at the end of the month, put $5 notes in savings account/buy metals.

    - Repeat.
     
  14. goldpelican

    goldpelican Administrator Staff Member

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    Yeah, used to do that with US $1 bills in the states - not hard to come home with $10 of them in your wallet. Easy to get to a decent sized wad of cash.
     
  15. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    ...Another might be that many of the green $100 notes are stored in bundles in boxes or suitcases as means of facilitating the cash economy rather than put into wallets for use in legitimate transactions...

    It becomes a legitimate transaction when you pay tax on it I guess.

    I have 25 of them but that's because they are all 2008 last prefix in Uncirculated condition and the catalogue says they are worth $175 each, however I have yet to find a single person who will pay that. Still, I live in hope.
     
  16. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    I keep forgeting those last 2 steps ;)

    [​IMG]
     
  17. willrocks

    willrocks Well-Known Member Silver Stacker

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  18. Dogmatix

    Dogmatix Active Member

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    I calculated a year back that coins were worth about double their metal value. So a while to go yet. That was all the silver coloured coins, not the $1 or $2. Their content is roughly proportional to their face value too (1:2).

    Although keeping in mind it us illegal to destroy currency, at least while it is still legal tender.

    Keep an eye on commodity prices, because at some stage it may become worthwhile to hoard.
     
  19. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Not just Argentina, local shortages in europe, they ran out of 1 and 2 eurocent coins, India was using sweets as small change and the Philipines also ran out of small denominations. In india they used steel coins, which were melted down to make razor blades and quadrupled the value.
     
  20. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    The Kiwis have dropped their cupronickle coins and gone to steel too. Our vending machines spit them out for being underweight ( I suspect magnetism may come into the detecting mechanism also).
     

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