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

Discussion in 'Off-topic' started by xls177, Nov 16, 2016.

  1. xls177

    xls177 Member

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    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,
     
  2. Phil1979

    Phil1979 Member Georgia Carry

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    A cashless society would make is easy (and a requirement) to do commerce using numbers only. No one could buy or sell otherwise. Revelation 13 comes to mind.
     

  3. EJR914

    EJR914 Cheezburger Operator

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    It sure does.