The Cash (or anti cash) Bill

[trash]

No, they won't just stop printing it.

It wasn't a recipe for Frog soup. It was an extreme example of the policy to dramatise the worst case. (The other end of the spectrum)

Not likely....because a cashless society is the wet dream of every politician that walks the planet.

Which amoral politicians are you not voting for, because the laws still apply to them the same as they do for us. If they could be just handed a bag of cash .... well.

Not going to get into a discussion about crypto's,

You don't need to. We know they work just fine and like any other currency. The difference is who controls them. (nobody)
Unless you think Zuckbucks is a cool idea.

Comments as above for cryptos.....you either believe, or you don't.

Irrelevant what I believe, it's what people using the currency believe. If they believe the earth is flat and act as such, then it doesn't matter to them what shape the world is. Flat works for them

I have absolutely no bias for or against cryptos. They are just one of many solutions.

As for people minting their own coins......are you talking about the people who can't change the tyre on their car

It's not the morons minting them, just using them. I've seen some pretty good coins minted by morons too. But again, it's the belief of the morons that determines the value of a currency.
The currency can be big round stones on some pacific island for all that matters.

China is feverishly trying to stamp out black markets, not create them.

Trick question - Do you know what the difference between RMB and FEC is?
It was one of China's attempts to stamp out black markets. I wonder why FEC no longer exists?
China is no better than anybody else at controlling black markets. Even the North Koreans can't stuff genies into bottles.


Could these 5 countries be cash-free by 2020?
Wanna bet the lowest denomination banknote from each of those countries that they will still be in circulation and use (and even printing) on 1st Jan 2021
I reckon that's a very safe bet. Cash is king

Russia and china are still working to reduce their dependence on USD.........it's a difficult task given the reserve currency status of the greenback.
Why China and Russia are struggling to abandon the US dollar and forge a yuan-rouble deal

Hilarious ... there is no way on this Earth that Russians are going to exchange their Frankies for Mao's.
That shows a gross misunderstanding of how ordinary people in Russia think. They're more likely to swap them for Zuckbucks!

I'm afraid that the die is cast on the reduction/elimination of cash.......it's only a matter of how long, and which smoke and mirrors will be used.

What is the most circulated Australian note? The $5 note ?
Nope, it's the $50 note. There are 700 million of them in circulation and we all see them every day.
What's the second most common note in circulation? It's the $100 note. How many of those do you see? It's rare to see them. So if there are so many in circulation, where are they?



THIS is people's trust in cash. It's the reason why I used the extreme example of the government stop printing them, or invalidating them.
If that happened, would people cash them in or would they continue to hold them, believe their worth and continue to use them?

They're hard to counterfeit, so if the herd mentality believes in the value, then the government has no control over those pieces of worthless plastic.
That kind of behaviour leads to deflation. If you're holding cash, it becomes worth more.

If you're the government, doing the exact opposite is how you get rid of cash. You print so much of it you cash hyperinflation of the currency and it becomes worthless.
At that point, people will move to something else. Now that might be Zuckbucks, or Aus-e-bucks, or gold or just Uncle Frankies.

So ask yourself this .... If I'm dictator of this country. (We've already established on this forum that it should be me)
I'm hell bent on getting rid of cash and I'm going to devalue the Australian dollar to achieve it. Are you going to accept my new replacement Trash-e-bucks?

Where are you going to hide your wealth so I can't mess with it? Or you're not going to hide or you don't think i possible or plausible?

This is my solution......

[irritant]

...As for people minting their own coins......are you talking about the people who can't change the tyre on their car, and have their meals prepared commercially and have them home delivered?...

...and who came up with "anal-bleaching"...

[Thala Dan]

[trash]

Hehehe ... that pretty much sums it up