Banning $50 and $100 bills .....92% of all cash value
First India, Now Australia Should Abolish Big Bank-Notes According To UBS
http://www.zerohedge.com/news/2016-11-15/first-india-now-australia-should-abolish-big-bank-notes-according-ubs
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,
First India, Now Australia Should Abolish Big Bank-Notes According To UBS
http://www.zerohedge.com/news/2016-11-15/first-india-now-australia-should-abolish-big-bank-notes-according-ubs
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,
