>Taking a cue from India, Australia may soon say goodbye to its $100 banknote.
>The country is mulling the abolition of its highest denomination currency, as the government may soon crack down on its tax evaders and the black economy at large.
>“The whole point of this crackdown on the black economy is to make sure we close down any potential loopholes,” Kelly O’Dwyer, the Australian Revenue and Financial Services Minister told ABC radio in an interview
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Fucking cunts, I think they are getting ready to remove physical money as a whole, and have it all electronic. India was a test run to see if the people would get violent, it would seem we are next.
Don't be paranoid
Aussies use plastic more than anyone. Tap tap shit is fucking out of control. Fucking fiat currency.
who cares?
the only place I get 100s is at the casino
It's going to happen sooner or later.
I live in a town where abos only use cards for their centrelink it is how they control them from their degenerate ways.
Also probably a test to see how much they could control a local population.
But on a side note I lived up here a month and haven't used cash at all...
There is nothing more intimidating and satisfying than buying something expensive in hard cash.
>mfw chinese nationals purchase million dollars of property and pays it all with cash
Good goy. The government needs to know exactly what you spend your money on so we can tailor our specific single issue agendas for you easy consumption
I care, tradie.
But honestly the difference between 2x$50 bills and 1x$100 bill is fuck all. Even when getting paid $5,000-$10,000 this makes no difference.
They would have to scrap the $50 as well to have any affect.
That's how property rates go high. People only demand cash for property sales, so even if you have bought a property of millions, the actual papers of the deal will be having the selling price in hundred thousands. So the seller can avoid paying taxes.
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When all cash is gone and government can peek inside every transaction you do from buying a chocolate bar to paying a guy $20 to fix a leaky tap you're all kinds of fucked. When the government decides to go full retard to "revitalize" the economy by imposing negative interest rates to force you to spend you will have no where to go.
This. Can't wait to have a cyclone rip some blokes roof off in Queensland and $10 deducted from my account to help him out.
What I'm more amazed at is how anyone can look at the complete fucking disaster it has been in India and think yes we should do it here too. Just the other day didn't Venezuela also begin culling its bank notes? Any nation worth shit isn't doing it and those who aren't are. Naturally I'll follow India Venezuela and the EU before I follow idiots like Switzerland
You can always move to India where buying gold has no limits because of 'muh religious customs'
>Just the other day didn't Venezuela also begin culling its bank notes?
Yup.
>Any nation worth shit isn't doing it and those who aren't are.
Welcome to the club mate.
But on the plus side, demonetization significantly brings down property rates ->
>…the prevalence of cash is far from a foolproof indicator of criminality and corruption. Consider Nigeria, which is perceived as one the world’s most corrupt countries and has a currency-to-GDP ratio even lower than Sweden’s… Nigerians have abandoned cash because they have so little trust in government-issued currency. Instead of using banks, they tend to transact in mobile airtime minutes. …Those with more substantial wealth put it in foreign currency. By undermining faith in its cash notes, India may go the way of Nigeria. Villagers are already resorting to barter. …corrupt public officials were believed to have their wealth in real estate and gold.
Can't wait to have to buy a car in phone credit. I might get myself a fucking corolla with a 3Gb phone data plan.
We're in this shit together mate it seems. Those links I posted are very depressing reads of where we are heading. It was nice giving a $20 to the stripper while it lasted
>It was nice giving a $20 to the stripper while it lasted
We can always hope for a smart thong where we can pay a stripper by swiping the card between her butt cheeks.
I can't wait to explain it to my tax accountant.
Prepare for a new era of investigations pajeet, every dollar you have ever earned stole spent and lost is going to be under government scrutiny
The european central bank is doing the same with the 500 E note
That's the only plus point of having a billion+ people, our government can never spy every minute transaction of every one in India without blowing up the servers with over load.
There will always a limit and only the transactions above the limits will be monitored.
Also since digital transactions are recorded prepare for strip clubs to renamed as restaurants and bars and brothels to be renamed as spas. (we have these because both prostitution and strip clubs are illegal here)
>illicit activities
>Gaining attention these days is the idea of abolishing high denominations of the dollar and the euro. This concept graphically displays the astonishing stupidity–and intellectual bankruptcy–of today’s liberal economic policymakers and the economics profession. …The ostensible reason is to help in the fight against terrorists, bribers, drug dealers and tax evaders by making it more inconvenient for these bad guys to move around and store their ill-gotten cash. …The notion that such evildoers as the Mexican drug cartels and ISIS will be seriously disrupted by the absence of the Benjamin–”These sacks of cash are too heavy now. Let’s surrender!”–is so comical… Monetary expert Seth Lipsky pithily points out in the New York Post, “When criminals use guns, the Democrats want to take guns from law-abiding citizens. When terrorists use hundreds, the liberals want to deny the rest of us the Benjamins.”
>Are Japan and Switzerland havens for terrorists and drug lords? High-denomination bills are in high demand in both places, a trend that some politicians claim is a sign of nefarious behavior. Yet the two countries boast some of the lowest crime rates in the world. The cash hoarders are ordinary citizens… The current hoarding in Switzerland and Japan thus underscores one of many ways in which cash is a basic tool of economic liberty: It lets people shield themselves from monetary policies that would force their savings into weak economies that can’t attract sufficient spending or investment on their own. These economies need reforms that boost incentives to work and invest, not negative interest rates and cash limits that raid the bank accounts of law-abiding citizens.
I hope you get the fuck out of that sinking ship Luigi
The two notes they removed account for 86% of your circulation and 98% of your transactions are in cash. You have a billion people. Who the fuck planned this?
Also strip clubs have been naming themselves restaurants here for ages mate
India is a nation that solely runs on how good your contacts are mate, the reason why when most of nation is in lines to get the new currency, frequent raids by Income tax department are revealing millions of new currency hoarded by people.
>people dumping illegal cash in garbage, rivers etc. etc.
Before demonetization
>PM announces zero balance bank accounts with no proof of residence required so poor can have bank accounts
>Hundreds of Millions of accounts opened
>PM demonetizes currency, only way to not loose your wealth is by putting it in bank accounts
>People start putting money in the zero balance accounts of poors to be saved from an inquiry
>PM requests poor people to not give the money back no matter how much they are pressurized
>He will allow them to keep a fraction of it legally.
What a cluster fuck. I hope shit works out mate I'm going to bed, hopefully the government hasn't started tracking my sleeping pill purchases
what the fuck, why do you think you have a say in what bills i can take from the ATM?
>Ms O’Dwyer told the ABC not only is the lost revenue owed to the Australian people for schools and hospitals, but it’s also critical for those who do the right thing and pay tax.
fuck off, over 30% of my tax money is spent on pensions and people on the dole. most of it's just spent on our government to begin with. none of the money they take from me actually does anything.
when are these people going to get kicked out of government?
good night mate.
