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

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

  1. xls177

    xls177 Member

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

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

    [/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.
    “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

    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

    It sure does.