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If Trump wins, NATO may be a thing of the past anyway.
Cashless society
- Thread starter sptrawler
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If Trump wins, NATO may be a thing of the past anyway.
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Only a dream
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Mr frog what's the dream. The Trumpet winning POTUS horror of horrors or the demise of NATO
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In Mundaring the township closest to us used to be served by banks now only has Bendigo thankfully and appears set to stay, strong community support.
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both, and Trump would be a relief vs corrupt war mongering democrats..think of the european peoples now and most of Americans...
basically anything but the democrat cabals
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A cashless society would make it very difficult for those connected with certain companies to get their wads of cash in brown envelopes spent which is a crying shame. ?
JohnDe
La dolce vita
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Adicts love a cashless society.
Sadly, I have a couple of mates addicted to 'a recreational' drug. For some unknown reason to me drug addicts become pokies addicts as well. Today I found out that one of the guys gets his unemployment benefits on a monday night, and then spends hours online, using his phone, gambling on pokies.
Electronic funds makes life easier for consumers, but it also makes it easier for people to fleece you.
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Big change: Development shows Australia may have reached peak cash
For the first time since the advent of dollars and cents, the total amount of cash is starting to fall.
The amount of cash in Australia has declined for the first time since dollars and cents were introduced in 1966, with the number and value of notes across the economy falling in the past financial year.
In a development economists say will hurt criminals operating in the black economy but potentially make day-to-day life more difficult for the elderly and those living in regional areas, more than $1 billion worth of notes have disappeared from circulation in the past 12 months.
Every year since the transition from pounds and shillings to decimal currency, the total value and number of notes in circulation has increased. But that reversed in 2022-23 with a particularly large fall in the number of $50 notes.
Despite the rise of touch-and-go, direct payment and debit cards over the past decade, the number of notes had been increasing. It soared during the COVID pandemic even though many retailers moved to contactless payment systems.
Reserve Bank data shows between February 2020 and December that year, the value of $50 notes in circulation jumped by 24.5 per cent. There was a 15 per cent jump in the number of $100 notes over the same period.
But the RBA’s own regular survey of consumers’ payment trends show three in four Australians are now considered low cash users. They use cash for less than 20 per cent of all their in-person transactions. In 2019, about half of Australians were considered low cash users.
The number of $5 notes in circulation has fallen to the lowest point since October 2019. The number of $20 notes (May 2021) and $50 notes (August 2021) is also continuing to drop.
The only note still growing is the rarely seen $100 note, but even that is slowing. The value of $100 notes circulating increased by 7.4 per cent in 2021-22, but lifted by a much more modest 2.4 per cent last financial year.
Australia is not alone in the phenomenon. Both the United Kingdom and New Zealand have seen a drop in the number of notes circulating in their economies over the past 12 months after a COVID-era surge.
Despite the drop in total notes, there are still 18 $100 and 36 $50 notes in circulation for every Australian.
JohnDe
La dolce vita
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Big change: Development shows Australia may have reached peak cash
For the first time since the advent of dollars and cents, the total amount of cash is starting to fall.www.smh.com.au
The amount of cash in Australia has declined for the first time since dollars and cents were introduced in 1966, with the number and value of notes across the economy falling in the past financial year.
In a development economists say will hurt criminals operating in the black economy but potentially make day-to-day life more difficult for the elderly and those living in regional areas, more than $1 billion worth of notes have disappeared from circulation in the past 12 months.
Every year since the transition from pounds and shillings to decimal currency, the total value and number of notes in circulation has increased. But that reversed in 2022-23 with a particularly large fall in the number of $50 notes.
Despite the rise of touch-and-go, direct payment and debit cards over the past decade, the number of notes had been increasing. It soared during the COVID pandemic even though many retailers moved to contactless payment systems.
Reserve Bank data shows between February 2020 and December that year, the value of $50 notes in circulation jumped by 24.5 per cent. There was a 15 per cent jump in the number of $100 notes over the same period.
But the RBA’s own regular survey of consumers’ payment trends show three in four Australians are now considered low cash users. They use cash for less than 20 per cent of all their in-person transactions. In 2019, about half of Australians were considered low cash users.
The number of $5 notes in circulation has fallen to the lowest point since October 2019. The number of $20 notes (May 2021) and $50 notes (August 2021) is also continuing to drop.
The only note still growing is the rarely seen $100 note, but even that is slowing. The value of $100 notes circulating increased by 7.4 per cent in 2021-22, but lifted by a much more modest 2.4 per cent last financial year.
Australia is not alone in the phenomenon. Both the United Kingdom and New Zealand have seen a drop in the number of notes circulating in their economies over the past 12 months after a COVID-era surge.
Despite the drop in total notes, there are still 18 $100 and 36 $50 notes in circulation for every Australian.
That’s one of the tools in the RBA’s box of tricks. They pump massive amounts of new cash into the economy during Covid, now they’re taking it out again. On top of that we’re heading towards a cashless economy. Though that will take quite a while.
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I wonder when they are going to withdraw the $100 note from circulation, IMO that will be the first indicator, of the move to cashless
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maybe not RFK jr is sowing panic in the Dem ranks , of course RFK jr still has to survive the presidential campaign
there is also the possibility of a Trump/RFK joint ticket ( in either order ) going against the bi-polar party system ( pun intended )
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Just can't see that happening.
trump has far too big an ego to play second fiddle.
RFK is in the end, a Democrat of the old school .
Mick
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just wondering what this has to do with a cashless society thread, it seems to be more about a morally corrupt thread. ?
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but Trump has a relationship with some of the Kennedys , Robert is a smart,tough lawyer ( and lord knows Trump needs one of those onside almost every week ) Robert is geared to work through conflicts , and what is more would drag real progressives ( and Libertarians away from the big parties AND get them to vote
the other question is .... is Trump a dyed-in the-wool Republican or would he settle for a Populist/Nationalist policy set
i was stunned ( in a bad way ) by Trump's staff picks in his first term , maybe he would select better without GOP pressure in a second term
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would put a huge wrench in the CBDC plans although i haven't seen any US candidates come out and roast the Fed or Treasury this campaign
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Happy days for Me and She.
Of late have been the recipient of many notes of all denominations.
I especially like the green coloured one though.
You are correct regarding the posts about US politics. Usual drivel posts by a poster of drivel.
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To be back on subject, I think the $100 note disappearing will be the signal to watch. And after a couple of years at 10% inflation, $50 will not be much
Already not enough for petrol or woolies
wayneL
VIVA LA LIBERTAD, CARAJO!
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Another conspiracy theory ticked off:
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Last few times I went to pay with my debit card at restaurant or butcher they had a surcharge even on eftpos... so I have been going to the atm to get cash and pay in cash.
What do I see when I go atm? usually I am not the first or last in que... strange thought cash and atms were dead according to the media
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