Now it really begins by stealth...

Discussion in 'Current Affairs' started by Shaddam IV, Nov 5, 2019.

  1. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I was in a café in Victoria today reading today's paper and saw an article saying that the Commonwealth bank is beginning to remove ATM's. At a conference the CEO said that cash is disappearing and so ATM's aren't so necessary. there is more to this than meets the eye.
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

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    It used to be many businesses were cash only and if you only had your eftpos card, you had to go somewhere else. Now those same business are card only, tap and go, with a big sign out the front saying no cash on premises. Its by design for sure.
     
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  3. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    It's like PayPal refusing to allow payments to conservatives. If you cannot use cash then any transaction that you make is by the permission of the bank.
     
  4. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    I once tried to donate to Wikileaks when they were branded a terrorist organisation and it wasn't allowed, while the real terrorist organisations were allowed to get millions.

    If we eventually go totally cash free we'll be allowing the most corrupt organisations in the world to control us. :(
     
  5. systematic

    systematic Well-Known Member

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    Excellent comments and awareness in this thread but better to get on Twitter and tweet your comments to the media channels and your politicians than just post them on silver stackers ...
     
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  6. milled

    milled Active Member

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    It will make the effect of a bank run/panic even more acute, especially out of hours. With fewer ATMs, the queues in areas of population density will be longer and the cash will run out faster.
     
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  7. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    This is what I do not understand, in England the bank changes the designs every 10 years or so and a year or two after the new design is released, your old notes become invalid and you need to redeem them for new notes at a bank as shops will no longer accept them.

    This is a great way of flushing out all the money being kept under mattresses and circulating in the black economy.

    But even though Australia had a perfect opportunity to do this with the recent redesigns they have not done so.

    Not sure why as being able to flush out all the $100 notes being hoarded would be great for the gov. I heard that retirees were taking a lump sum out of their Superannuation, going on holiday and coming back saying they had spent it all overseas and could they please have the government pension as they had no money left, whilst secretly keeping all the money under the mattress out of the banking system.

    Whilst I am not saying that there isn't something afoot, it would be odd that Australia would miss this obvious opportunity to sweep out the hidden cash. I am sure that England's bank notes are not unique in this respect and the banking world must be aware of the practice.
     
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  8. raven

    raven Well-Known Member Silver Stacker

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    ^^^^^^^
    Because there is stuff all people in oz with cash, mate !
     
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  9. jultorsk

    jultorsk Well-Known Member Silver Stacker

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  10. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Those in Govt / corporate who want us to go cashless do not hide the fact and present it as an inevitable event due to both advancement in IT / tech in commerce and that each new generation does things differently from the past re grasping and using IT / tech more than the prior generation.

    But how does a Govt persuade a populous to do something which for some would be seen a violation of one's civil right, the thin end of the wedge re Govt control and maybe something that could be challenged at court as unconstitutional??

    Well I guess you have to scare the populous enough so they don't argue with the change or even welcome it....Example: The US Patriot Act post 9/11. If it had not been for 9/11, (and would like to hear from US members on this) would have Congress dared tried to pass the Patriot Act or even gotten support in the Congress??

    So where am I going with this......Over the years a friend of mine has traveled to Argentina (Buenos Aires) to see some relatives. First time there, on arrival they took old mate for a walk around the city and dinner on first night in town. My friend went to pay for some drinks and took cash out of his pocket to pay. His cousin (a lifetime BA resident) very quietly and quickly told him to put his cash away and only use credit cards as the crime rate in BA is high and if someone sees you with cash, the chances of getting robbed are good...so best to use a card to pay for everything.

    So, if the Aust Govt wants to bring in a cashless economy, then one way I see them justifying it or having people accept it is letting crime rates for robbery sore so it effectively becomes unsafe to be known you have cash on your person. I might be drawing a long bow here, but the police in Australia seem more concerned in the main with clamping down on public dissent / protests, or handing out revenue raising tickets (aka speeding tickets) than actually policing the streets as has been seen with various gang related issues particularly in Melb in recent years....where both the Premier and Police Commissioner said they saw no issue.
     
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  11. Bullion Baron

    Bullion Baron Well-Known Member Silver Stacker

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  12. willrocks

    willrocks Well-Known Member Silver Stacker

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    They try and demonize cash all the time.

     
  13. willrocks

    willrocks Well-Known Member Silver Stacker

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    It's not a conspiracy that businesses want to drive down costs by using more efficient payment methods.

    But it is a conspiracy that governments and banks want to take away everyone's financial privacy and eliminate cash.
     
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  14. Bullion Baron

    Bullion Baron Well-Known Member Silver Stacker

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    I'm not aware of any plans to eliminate cash, in fact I recall reading several arguments by the RBA in recent years around how important cash is.
     
  15. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Got any links to this?
     
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  16. Silverman99

    Silverman99 Well-Known Member Silver Stacker

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    Interesting to read a local article on this subject

    Cash could become commercially unviable - Assistant Reserve Bank Governor


    A Reserve Bank survey has found that nearly nine in every 10 New Zealanders prefer to pay for things without using cash.

    [​IMG]
    Photo: RNZ / Rebekah Parsons-King

    Assistant Reserve Bank Governor Christian Hawkesby told Morning Report it's a clear message from the public.

    "That's just evolving with times, evolving with technology but from where we sit we need to ensure that the cash system evolves with society's use of payments."

    It may require government intervention to ensure we don't lose cash all together, he said.

    "What we're seeing is that the vast majority of people want to use electronics as their primary payments but there are still pockets of society that are still very reliant on cash."

    These communities include the elderly, the young, parts of the Māori community and those that are isolated, he said.

    "We need to ensure that we still have a system that's fit for purpose for all of society."
     
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  17. willrocks

    willrocks Well-Known Member Silver Stacker

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    Last time I checked, the RBA doesn't make cash ban laws. They also won't oppose cash ban laws. Finding some obscure RBA article doesn't change anything.

    There's a global conspiracy to eliminate cash and force everyone into the banking system, where they can be tracked to the last cent. The decline in cash use is, in part, driven by governments' anti-cash policies.

    French government lowered the cap on cash payments from €3,000 to €1,000. “fight against the use of cash and anonymity in the French economy”
    Spain has a € 2,500 cash limit.
    Argentina limits cash currency exchange to $100 US per month
    Belgium - cash can no longer be used to pay for real estate, and there is a 3000 euro limit
    Canadian government stopped allowing payment of taxes in cash and purchasing passports with cash
    Denmark government has committed to complete elimination of cash
    EU eliminated the 500 euro note
    Germany - Proposals to ban cash payments of more than €5,000
    ...

    I could go on. But I think there's enough there to establish a pattern.
     
  18. milled

    milled Active Member

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    depends on the purchase

    if at a checkout, tap and pay is fine
    if a bill or online merchandise, online is perfect

    however, cash rules for certain things. Private transaction for one thing, for example second hand goods but also in an age of government agency warrantless access to bank statements, the other meaning of private.

    If cash is banned or restricted, for sure a lot of new people will go to blockchain or simply not transact.

    that article reeks of a government looking for a reason to implement what it wants. "It's a clear message from the public". What balderdash.
     
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  19. leo25

    leo25 Well-Known Member Silver Stacker

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    I too would be very interested in reading that... Since negative interest rates will be a bit of a pain for central banks if cash is still around.
     
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  20. SilverDJ

    SilverDJ Well-Known Member

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    A look at the data:
    https://www.apra.gov.au/authorised-deposit-taking-institutions-points-of-presence-statistics
    ATM's by state.
    This drop could be accounted for by people getting "cash out" at supermarkets and other places.

    upload_2019-11-5_19-57-17.png

     
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