Banning cash and NEGATIVE interst rates.

Discussion in 'Markets & Economies' started by bretto, Feb 11, 2019.

  1. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    491
    Likes Received:
    339
    Trophy Points:
    63
    Theyve already taken guns and freedoms in most places, next is the money when the people are powerless.
     
    Jim4silver likes this.
  2. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,599
    Likes Received:
    197
    Trophy Points:
    63
    Location:
    Treasure Island
    It's odd how many people actually enjoy paying with their phones. It's considered "fun" and "modern".

    Generations are growing up not knowing what it feels like to "hold it and own it". They're like fish in a fish tank.
     
    Ag bullet likes this.
  3. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,258
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Singapore
    Interesting, Singapore dollars, not Swiss Franc. Libra might be launching something big in Singapore. They are building a huge 2 million square feet building here.

    https://www.google.com.sg/amp/s/techcrunch.com/2019/10/11/libra-denominated-in-dollars/amp/

    What if Libra wasn’t backed by a basket of international currencies, but only the dollar?

    Regulatory pushback to the Facebook-led cryptocurrency Libra has caused major partners including Visa, MasterCard, PayPal, and eBay to pull out of the Libra Association. But one of the remaining members has floated a major change to the stablecoin that could calm concerns that Libra could hurt the world economy by challenging national currencies for supremacy.

    Originally, Libra was slated to be denominated in…Libra using the unicode symbol ≋. It would be a stablecoin backed 1:1 with a basket of the world’s top currencies that Reuters says Der Spiegel reportsFacebook told a German legislator would be made up of 50% US dollar, 18% Euro, 14% Japanese Yen, 11% British pound, and 7% Singaporean dollar.​
     
    66rounds likes this.
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    491
    Likes Received:
    339
    Trophy Points:
    63
    Backed by fiat, shouldnt be called stable.
     
  5. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,451
    Likes Received:
    1,301
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    in China, they have WeChat pay and Ali Pay, there are certainly few hundred millions users there
    in Singapore...there are pay station specifically made available for tourists from the mainland in the last few years
     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,258
    Likes Received:
    635
    Trophy Points:
    113
    Location:
    Singapore
    That’s why I think Whatsapp Pay will take off instantly in Singapore. But Singapore is too small a market, only 4 million users. Whatsapp Pay is on trial in India with 1 million users.

    Interesting to see that fb messenger is more popular in Australia and the US. In Singapore, Whatsapp market penetration is now virtually 100%. Even illiterate people are using it to send voices messages.

    [​IMG]
     
    Last edited: Oct 13, 2019
    66rounds likes this.
  7. sctpc

    sctpc Active Member

    Joined:
    Apr 30, 2019
    Messages:
    118
    Likes Received:
    99
    Trophy Points:
    28
    Location:
    Melbourne
  8. sctpc

    sctpc Active Member

    Joined:
    Apr 30, 2019
    Messages:
    118
    Likes Received:
    99
    Trophy Points:
    28
    Location:
    Melbourne
    Well they have Passed the bill without listening to the people, sadly this is becoming the norm, lets face it Australian are lazy, and dont give a care about our privacy and both parties dont work for the people.

     
    66rounds likes this.
  9. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,225
    Likes Received:
    112
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    Again the impact 9f this on 99.999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999998% of the population will be nill
     
  10. sctpc

    sctpc Active Member

    Joined:
    Apr 30, 2019
    Messages:
    118
    Likes Received:
    99
    Trophy Points:
    28
    Location:
    Melbourne
    Until there is a $1000 limit and your favorite Bank charge you a -% rate + a fee to protect there profit and there internet crashes so no one can get out money (Commonwealth last week) Do I need to go on?
     
  11. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,225
    Likes Received:
    112
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    again them changing just the limit wont effect 9.999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999998% of the population still

    the limit could be $1 and still NOT affect 9.999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999998% of the population
     
  12. sctpc

    sctpc Active Member

    Joined:
    Apr 30, 2019
    Messages:
    118
    Likes Received:
    99
    Trophy Points:
    28
    Location:
    Melbourne
     
    willrocks likes this.
  13. pmbug

    pmbug Active Member

    Joined:
    Oct 22, 2011
    Messages:
    280
    Likes Received:
    30
    Trophy Points:
    28
    Location:
    Texas
    https://www.statista.com/chart/19868/share-of-cash-payments-in-different-countries/
     
    Silver260 likes this.
  14. Number 47

    Number 47 Well-Known Member

    Joined:
    May 31, 2018
    Messages:
    200
    Likes Received:
    257
    Trophy Points:
    63
    When every town in Australia has high speed, reliable internet powered with a stale power grid we'd have a chance at going cashless here.

    As it stands, we still have towns without internet and some of those more remote towns run on generators that are shut down at night. We have constant technical issues with floods, fires, storms and other complications caused by our ageing infrastructure.

    Australia will need cash as an option for a long time yet. It's easy to forget that when you live in the comfort of the big smoke.
     
  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    491
    Likes Received:
    339
    Trophy Points:
    63
    Yep same here in the us. Not everyone is a big time city slicker.
     

Share This Page