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

    Joined:
    Jul 30, 2012
    Messages:
    3,286
    Likes Received:
    135
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    that coin isnt bad and would probably fool a beginner it is good but not a great copy.
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    1,128
    Likes Received:
    1,046
    Trophy Points:
    113
    Location:
    Melbourne
    Anyone pilfering my safe isn't going to be too high up there on the IQ scale, should fool them and whatever bastard he sells to for meth money.
     
    openeyes and sctpc like this.
  3. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,074
    Likes Received:
    1,210
    Trophy Points:
    113
    Location:
    Sydney
    Mmm you do realise that AliExpress seller is just using photos of real coins...:rolleyes: I'm sure the one you get in the mail will look bad and after paying about $170AUD be super pissed off. Come on mate get your game on.

    Compare the yolanda's coin dragon compared to the Apmex dragon. Yep same photo and i doubt Apmex was ripping off yolanda's photo :D Well on the good news, there are still no good fake coins.

    https://www.aliexpress.com/item/33022430595.html?spm=2114.12010608.0.0.5362306615zAsL

    https://www.apmex.com/product/4760/2000-australia-1-oz-gold-lunar-dragon-bu-series-i

    fake coin.jpg
     
    Last edited: Sep 22, 2019
    sgbuyer and 66rounds like this.
  4. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,074
    Likes Received:
    1,210
    Trophy Points:
    113
    Location:
    Sydney
    66rounds likes this.
  5. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    6,064
    Likes Received:
    951
    Trophy Points:
    113
    WTF. The ABC were playing shots of what appears to be an illicit drug website while John Adams was speaking? Even if illicit drug sales are part of the "black economy", I seriously doubt any of those criminals would think twice about a cash ban. They're already doing something highly illegal, possibly resulting in decades of jail time, why would they care about a cash ban? I can imagine how their business might suffer: "Na mate, I can't sell you that much in illegal drugs, it's over the $10,000 cash ban limit."
     
  6. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,286
    Likes Received:
    135
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    It's not that bad and there are pics of the buffs from other sellers again they are pretty convincing and the bars are almost 100% spot on

    But I guess to you even if it was a 99.9999% exact copy I'm sure you will still call it a bad fake
     
  7. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,074
    Likes Received:
    1,210
    Trophy Points:
    113
    Location:
    Sydney
    The edge details on the Krugerrand is a easy giveaway (well at least for me). Again i agree that fake bars are hard to spot from a photo. Now if your original comment was directed to bars then there would be no issue, but you said coins.

    All the photos on yolanda's coin page are of real coins. ;) The Buffalo photo was taking from this site. https://www.usmoneyreserve.com/shop/gold/1-oz-gold-american-buffalo-coin/ yolanda's coin is a real piece of s#*t. Though most people on AliExpress are.

    If a coin looked even 90% good, i would be more then happy to call it a good fake and create a thread warning everyone about it. Anyway seems you too agree that good fakes (being indistinguishable) don't exist as the only really good "fake" you could find turned out to be photos of real coins.
     
    Last edited: Sep 22, 2019
  8. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    8,007
    Likes Received:
    1,596
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    implication for cash people, you would have a rough time getting clear of being a bankrupt
    owe > 10k, can't use cash to settle the debt
    if you paid >10k in cash, both the debtor and creditor are in violations of the law
    creditor become bankrupt, since then he is upside down.
    for a debtor, he now got penalized to be deeper in debt both the the govt and the creditor which had been bankrupted (both are now criminals)
     
    sctpc and 66rounds like this.
  9. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,286
    Likes Received:
    135
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    not quite the law as it stands CURRENTLY does not apply to private individuals
     
  10. sctpc

    sctpc Active Member

    Joined:
    Apr 30, 2019
    Messages:
    145
    Likes Received:
    140
    Trophy Points:
    43
    Location:
    Melbourne
    WRONG the regulation as it stands excepts private individuals and the minister can change it who, how much, what including crypto and the amount KPMG are asking for $2000 to help get there new cashless system up and running quicker.
    The bill will even ban you putting $10000 cash into your bank.
     
    66rounds likes this.
  11. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    6,064
    Likes Received:
    951
    Trophy Points:
    113
    Yes it does, for real estate, bank deposits, bank withdrawals, buying things from businesses (cars, bullion ... etc) . Also, it's not just physical fiat currency. Cash = physical cash, crypto, and precious metals.
     
    66rounds likes this.
  12. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    8,007
    Likes Received:
    1,596
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    need 4 wives to make payments in cash of up to 10k, so will not break the law...living together
    good business plans
     
    66rounds likes this.
  13. herkyderky

    herkyderky Member

    Joined:
    Jan 16, 2019
    Messages:
    58
    Likes Received:
    49
    Trophy Points:
    18
    Location:
    Gold Coast
    not yet a LAW...currently a bill, also the version of the said bill that is available to the public is a exposure draft and the actual bill that was put to parliament contained more restrictions than the draft and applies the cash ban to all parties including private individuals
     
    willrocks and 66rounds like this.
  14. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,286
    Likes Received:
    135
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    if its not available to the public how do you know this

    I suggest your tin foil hat needs adjusting
     
  15. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,286
    Likes Received:
    135
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    no it does not between 2 x private individuals set a limit

    the limits only apply to businesses accepting cash payments

    after this bill passes it would still be legal for me to give you 11k for a car sales ( as long as you not a car dealer)

    please learn the facts before you cry conspiracy and maybe your tin foil hat also needs adjusting
     
  16. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,286
    Likes Received:
    135
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    again as I saidt as it CURRENTLY is it exempts PRIVATE transactions

    are you mentally retarded or just have a reading disability
     
  17. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    6,064
    Likes Received:
    951
    Trophy Points:
    113
    Show us where it exempts individual to individual transactions?


    entity.png

    offence.png
    https://www.treasury.gov.au/sites/default/files/2019-07/Exposure draft - Currency (Restrictions on the Use of Cash) Bill 2019.pdf
     
    66rounds likes this.
  18. herkyderky

    herkyderky Member

    Joined:
    Jan 16, 2019
    Messages:
    58
    Likes Received:
    49
    Trophy Points:
    18
    Location:
    Gold Coast
    The bill was subject to a parliamentary first reading on the 19th of september and the details of that reading where different than the initial exposure draft that was available for public review.
    willrocks post shows plainly that the bill intends to restrict ALL private individual transactions over $10K as there are no provisions for an exemption but all the legal wording for a total cash ban
     
    66rounds and willrocks like this.
  19. herkyderky

    herkyderky Member

    Joined:
    Jan 16, 2019
    Messages:
    58
    Likes Received:
    49
    Trophy Points:
    18
    Location:
    Gold Coast
  20. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    6,064
    Likes Received:
    951
    Trophy Points:
    113
    There are actually exemptions, but they do not form part of the law. They are placed in another statutory instrument (i.e. can be changed at any time without parliament) called the "Currency (Restrictions on the Use of Cash— Excepted Transactions) Instrument 2019". The minister could change this instrument at any time for any reason, without oversight.
     
    66rounds likes this.

Share This Page