Now Australia Should Abolish Big Bank-Notes $50&$100

Banning $50 and $100 bills .....92% of all cash value


First India, Now Australia Should Abolish Big Bank-Notes According To UBS

[FONT=&quot]http://www.zerohedge.com/news/2016-11-15/first-india-now-australia-should-abolish-big-bank-notes-according-ubs[/FONT]
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[/FONT]The war on cash really began to escalate in February when The European Central Bank said it was considering withdrawing 500-euro notes because of an “increased conviction in world public opinion†such high-value notes are used for criminal purposes.
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“Removing large denomination notes in Australia would be good for the economy and good for the banks,†UBS analysts led by Jonathan Mott said in a note to clients on Monday. Benefits would include reduced crime and welfare fraud, increased tax revenue and a “spike†in bank deposits, he said.

In Australia, 92 percent of all currency by value is in A$50 and $100 notes,