Are their any $100.00 bills still in circulation in Australia? I though that they were all under people's mattresses?
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!
I thought the $100 note will be withdrawn for good..and now the new one is coming out.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.
I had a good look at a counterfeit $5 note the other day... Yep it was! Funny thing is the bank staff said nope it's fake and gave it back to the depositer like they didn't care
Nothing is forever. The RBA of today will say things that the RBA if ten years from now won't even be aware of. Banks and governments are made of people who move and change over time. Today's inalienable rights becomes tomorrow's shamefully banned.
To be a true digital currency, it would have to have existence outside of bank accounts, kind of like crypto currency. It would also need to be untraceable, otherwise it would be no different to having a bank account and spending using Mastercard or Visa debit. Is this what ERB is trying to do with the Euro? If so, then how would it be bad for the Black Market economy? Questions questions.
What are the benefits of using cash money: - no electricity needed to pay - no network needed to pay - no third parties needed to pay It's independency, which makes that there is little to go wrong. So it's like hard to imagine how a digital euro could compete, let alone replace, that. Maybe I'm overlooking something?
Physical requires actual creation, as in it has to physically be made and later destroyed. That's a negative for the Government (like they did away with rego stickers). A government digital currency would be an absolute nightmare for the populace but something that bad actors within governments would salivate over. "Nugget is a fatty so we won't let Nugget buy anything from Macca's" - "Nugget isn't vaxxed so Nugget can't access his money" "Nugget isn't on board with our latest policy of recognising childrens right to marry whomever they love, restrict his purchases to within his suburb" I'm not some anti-establisment type. But sheesh, the guys running the show at the moment aren't exactly confidence inspiring.
What's new, really. Our lives are already extremely restricted. Do as you're told. Buy and sell the choices you've been given.
