Banning cash and NEGATIVE interst rates.

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

  1. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    wont hapen

    I woundt trade anything for an oz of gold off a random joe off the street let alone an oz of silver you have no way to know if tis real and to take teh gamble istn worth the hassle or risk

    so no

    wont happen
     
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  2. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    defiantly wont happen
     
  3. openeyes

    openeyes Well-Known Member Silver Stacker

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    People have been counterfeiting money since money was created. I have a feeling that will not stop no matter the vehicle of exchange. I await the day when someone hacks bitcoin or is somehow able to pass off a fake. It is not if just when.

    Silver coins were used as money in the past although it’s trues that less people had the capability to smelt metal.

    Only time will deliver an answer.
     
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  4. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    it just wont happen not all all in large enough volume to make any difference

    again no one will trust the ransoms with a large trade and if you go to a dealer to get it verified its not worth the hassle you might as well jsut sell to dealer

    these things are too easy to fake now a days and popular coins can be bought off Alibaba for a few dollars and are pretty convincing (unless tested correctly)
     
  5. openeyes

    openeyes Well-Known Member Silver Stacker

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    Understand what you are saying. I don’t think silver will become money as in coins. But if there is no cash at all then silver in its various forms may become the black market vehicle of exchange.

    It seems quite some years away yet before we will be without any cash at all.

    It certainly will be interesting.
     
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  6. SilverDJ

    SilverDJ Well-Known Member

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    Agreed. Our notes have world class security for a reason, and people are used to the security features we have now. Very difficult to make good fakes. Silver and gold coins you can buy fakes on Alibaba.
     
  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    With blockchain and cryptos, we may not limit ourselves to physical silver all the time. It could be goldmoney kind of concept but from a big corporaton that has a ready payment system such as Paypal or Visa (using Facebook's Libra or some blockchain system). Maybe a silver backed or gold backed stablecoin that is convertible to the metal like what Goldmoney is doing.

    One thing for sure, this system will not be anonymous like bitcoin, as in you need to show your passport to get a visa card or paypal account. But for us pm investors, it don't matter because pm will appreciate the more people use it. No one is also going to put everything into this virtual silver or gold - we'll still have our physical stack.
     
    Last edited: Aug 5, 2019
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  8. projack

    projack Well-Known Member Silver Stacker

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    Gold had a 25% increase in the last 12 month
     
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  9. sctpc

    sctpc Active Member

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    Its easy to have a fake Paypal account Get a pre pay credit card from post office Put $50 on it sign up to paypal Joe Blow and the account works in that name. Unless something has changed it the last two years
     
  10. pmbug

    pmbug Active Member

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  11. willrocks

    willrocks Well-Known Member Silver Stacker

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    Keep waiting. It will never happen.
     
  12. openeyes

    openeyes Well-Known Member Silver Stacker

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    Never is a long time
     
  13. alor

    alor Well-Known Member Silver Stacker

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    just flood the buildings where the central computers are, took < a day or may be 2 due to time zones
     
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  14. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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  15. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  16. sctpc

    sctpc Active Member

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  17. alor

    alor Well-Known Member Silver Stacker

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  18. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  19. Number 47

    Number 47 Well-Known Member

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    Going cashless would be political suicide.

    Saying that, we as the public are creating the perfect environment for a government to switch to cashless.

    We seem to love pay-wave, tap and go and using the plastic cards.

    All the tools are already in place to go cashless ... except a stable power, phone and internet network.
    Also they need to consider remote and regional Australia that has even less stability with those networks.
    You won't find me traveling remote without cash to pay for fuel, I don't want to wait for a week to pay for fuel while phone and power is being restored after a natural disaster that happened 1000k up the road...

    If we made more effort to withdraw cash and make some purchases with it, at least just for the sake of keeping cash alive, it would be less likely to be scrapped.
     
  20. SilverDJ

    SilverDJ Well-Known Member

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    I also always travel with enough cash to get me back home, that would include meals, petrol or flights, hotels etc.
    Even daily I always carry enough cash to pay for stuff. Glove box also has enough cash to pay for fuel.
    Crazy not too, it's so simple.
    Guess that makes me a "prepper" :rolleyes:
     

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