Banning cash and NEGATIVE interst rates.

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

  1. kilo

    kilo Active Member Silver Stacker

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    Yep 10k is a fair bit of booty but I see it as the thin edge of a wedge

    Same as ATMs only dispensing $20 notes effectively you now have between 2.5 and 5 times the number of notes in your wallet. That makes cash cumbersome esp. if u withdraw your daily limit. Puts people off cash so they move to cashless by 'free choice'
     
  2. willrocks

    willrocks Well-Known Member Silver Stacker

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    You're confusing tax avoidance with tax evasion.

    Tax avoidance is the legal use of tax laws to reduce taxes. Tax evasion is the illegal evasion of taxes. There's a big difference.
     
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  3. alor

    alor Well-Known Member Silver Stacker

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    [​IMG]
     
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  4. willrocks

    willrocks Well-Known Member Silver Stacker

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  5. Silverling

    Silverling Well-Known Member Silver Stacker

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    My bad, thanks for the correction, cheers.
     
  6. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Always loved this clip. I think Packer and DJT would have gotten on very well together.
     
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  7. Fugue

    Fugue New Member

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    10k wouldn't be a big deal, but we all know that that is a stepping stone to gradually drop the limit.

    All they need to do is pass the bill and they can change the limit as much as they like without having to change the law.
     
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  8. willrocks

    willrocks Well-Known Member Silver Stacker

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    They only need to change the amount in the regulations.
     
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  9. sctpc

    sctpc Active Member

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  10. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    in response to this quote
    " In regard to the Currency (Restrictions on the Use of Cash) Bill 2019, in the 2018-19 Budget, the Government announced it would introduce an economy-wide cash payment limit of $10,000 for payments made or accepted by businesses for goods and services. Transactions equal to, or in excess of this amount would need to be made using the electronic payment system or by cheque. The Black Economy Taskforce recommended this action to tackle tax evasion and other criminal activities."

     
    Last edited: Aug 19, 2019
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  11. alor

    alor Well-Known Member Silver Stacker

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    sorry power failure
     
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  12. sctpc

    sctpc Active Member

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  13. JOHNLGALT

    JOHNLGALT Well-Known Member

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    We are not trapped in 'THEIR' SHEEPLE PENS yet.
    PENS_4_COUNTRIES_PHONEY DIGITAL MONEY.jpg
     
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  14. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  15. JOHNLGALT

    JOHNLGALT Well-Known Member

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    John Adams & Martin North do some great YouTube Videos on the economy.
    Just GGLE John Adams & Martin North Youtube to see them. Good post Oddy.
     
  16. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Yep, they do some good vids.

    So the pollies most love to hate...ONP, Kater are all against this legislation.



    and from late today.
     
  17. sctpc

    sctpc Active Member

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  18. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  19. JOHNLGALT

    JOHNLGALT Well-Known Member

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    I'll save you the trouble of clicking. 97.1%, I just voted. LOL.

    97.1PERCENT.JPG
     
  20. alor

    alor Well-Known Member Silver Stacker

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    Australian banknotes are a legal tender throughout Australia (this is provided in section 36(1) of the Reserve Bank Act 1959 ).

    can ask the new notes to be printed as "NOT so Legal anymore as tender" :confused:

    there should be warning on each and every note too
    sign at the bank, sorry withdrawal on excess of $x would make it illegal, and can't be done :p
     
    Last edited: Aug 20, 2019

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