Discussion in 'Banknotes' started by mmm....shiney!, Oct 1, 2020.
Are their any $100.00 bills still in circulation in Australia? I though that they were all under people's mattresses?
Nah, everybody has been waiting for their price to drop further before adding to their stacks!
I'm still only paying 80% of face value
Is there the usual conspiracy theory that these new notes will be trackable? I have so many under my bed they’ll be able to find me from space!
just send them to me & I'll look after them for you
I thought the $100 note will be withdrawn for good..and now the new one is coming out.
I heard they can scan the property from outside and find the notes....
Its funny, with talk in the U.S of the Digital Dollar directly from the Fed notes are on the way out. It appears that the folks at the RBA, Securency and the NPA are still going strong even through the pandemic. I remember talk about the $100 and $50 notes going out of circulation a while back due to the usual, black market economy.
Can't find the link right now, but the ECB dropped a press release stating they have no plans to phase out any denomination of the Euro banknote, once the €500 are phasing out of circulation.
A lot of unexpectedly sensible arguments about keeping cash around:
about keeping the economy accessible for the 'unbanked', especially the economically disadvantaged
cross-border consumer spending within EU often best facilitated by cash, lowest cost of transaction
how attempts to demonetize Swedish Krona banknotes just caused a great deal of chaos for 97% of legitimate savers who were left holding high-denomination notes etc.
cash can 'function' even in a disaster/emergency scenario, without phone lines and servers
The ECB is not hiding the fact it is about developing a digital Euro, but expects that to operate in parallel with banknotes.
RBA has been saying the same thing. China is probably the only government that wants to get rid of cash due to the CCP being controlling psychopaths.
Always be wary when central bankers / institutional economists speak in soothing tones...
In practise I envision the CBDCs will bring negative interest rates by default - to spur up consumption. And you can of course use cash - it's a free world! - but it will entail a fee when you withdraw and a fee when you deposit. Gradually the fees will be increased in ever so tiny increments until the populace is trained to understand what's best for them.
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