Cashless society

[Dona Ferentes]

Just in my small circle of friends I have two families that are perpetually broke despite the fact that they have good jobs.
They know why they are broke, they just don't care about money

living their best lives, one paycheck at a time.

They don't know why they are broke, they just don't care about money

 

[Value Collector]

You are thinking like a person who is financially aware and has invested for their future.

We are in the minority, most people prefer to "stimulate the retail economy" and have a "good night out" as often as possible.

Just in my small circle of friends I have two families that are perpetually broke despite the fact that they have good jobs.

They know why they are broke, they just don't care about money

Are people that are loading up their credit cards to play the pokies really having a good night?

I have broke people in my family too, they don’t get why they are broke, they just think the world is rigged against them, then they go and lose on the pokies.

check out this video, these people aren’t having a good time, they are addicted, and many people you think might just be having a good time are just functional addicts, like functional alcoholics it’s had to spot them. Making it at least a little bit harder for them to go into debt is probably a good thing, they will thankyou when the wake up in the morning and havent loaded up their cards.

 

[macca]

Again you are thinking like we think, many of them literally do not care about money

I have been shown things they have purchased and because of the way I think, I ask how much was that and they answer I can't remember..............

They buy things on their card and do not get a receipt, they pay their credit payment each month without checking the entries on the statement.

I know one person who has had over 30 different cars, over 40 different motor bikes and 6 different boats, in the same time I have had 4 cars, 1 motor bike and no boats

I think they are crazy and struggle to understand their attitude but They only care about having fun.

I am concerned that some of them will end up in a bad financial situation in their later years But at present we live in a free country so they are entitled to live how they choose

 

[Value Collector]

Again you are thinking like we think, many of them literally do not care about money

I have been shown things they have purchased and because of the way I think, I ask how much was that and they answer I can't remember..............

They buy things on their card and do not get a receipt, they pay their credit payment each month without checking the entries on the statement.

I know one person who has had over 30 different cars, over 40 different motor bikes and 6 different boats, in the same time I have had 4 cars, 1 motor bike and no boats

I think they are crazy and struggle to understand their attitude but They only care about having fun.

I am concerned that some of them will end up in a bad financial situation in their later years But at present we live in a free country so they are entitled to live how they choose

Remember though, the topic isn’t “Banning Gambling” it’s simply “Banning gambling using a credit card”

I believe some people truly don’t care about money, but that has nothing to do with whether it might be rational or not to limit people’s ability to gamble using credit cards.

most people that say they don’t care about money are just either lying to you, or lying to themselves, cut their pay in half and they will complain, double the price of petrol and they will complain.

In Queensland it’s been illegal to buy lotto tickets on credit card since 2000.

 

[divs4ever]

I actually think it’s a bit more sinister than that, I think the reason lower incomes tend to buy more lotto tickets and play the pokies more is because they often see it as their only hope of financial freedom.

But the odds are not in their favour, and it just keeps them poor, and it’s not fun losing which they always will, so it’s not great entertainment either, it’s short lived hope followed by regret.

glimmers of hope , by the distressed yes that is how i interpret the phenomenon i have watched in the last 60 years ( i grew up on the fringe of a capital city )

luckily i am wired differently to most and find poker machines particularly unattractive , failing to spend the two $5 vouchers i had been given during my lifetime ( just leaving the remaining credits on the machine for somebody else )

i would rather invest in 'the house ' ( holding TAH , TLC and at one stage TTS ) and get small gains relatively regularly

 

[divs4ever]

Are people that are loading up their credit cards to play the pokies really having a good night?

I have broke people in my family too, they don’t get why they are broke, they just think the world is rigged against them, then they go and lose on the pokies.

check out this video, these people aren’t having a good time, they are addicted, and many people you think might just be having a good time are just functional addicts, like functional alcoholics it’s had to spot them. Making it at least a little bit harder for them to go into debt is probably a good thing, they will thankyou when the wake up in the morning and havent loaded up their cards.

you rule out the money laundering angle here , how many are laundering the proceeds of ( somebody else's )criminal activity ??

just a suspicion based on where the highest turnover machines are located

 

[Value Collector]

you rule out the money laundering angle here , how many are laundering the proceeds of ( somebody else's )criminal activity ??

just a suspicion based on where the highest turnover machines are located

No doubt it happens, but I don’t think that would represent a large portion of the losses people make at the pokies each year, I would expect there are better ways to launder money Just using small businesses.

 

[farmerge]

No doubt it happens, but I don’t think that would represent a large portion of the losses people make at the pokies each year, I would expect there are better ways to launder money Just using small businesses.

Not that I am into laundering cash, but I thought that the casinos were the obvious places and perhaps the racetracks also.

 

[divs4ever]

Not that I am into laundering cash, but I thought that the casinos were the obvious places and perhaps the racetracks also.

well the money ( per capita ) in certain areas sure raises eyebrows ( compared to what you would expect the average resident to earn )

now sure some would recycle the winnings ( unlike me when i gambled ) but ...

flashier folk would use casinos , but the T-shirt and joggers crowd well casinos don't rush to invite them in

 

[qldfrog]

Again you are thinking like we think, many of them literally do not care about money

I have been shown things they have purchased and because of the way I think, I ask how much was that and they answer I can't remember..............

They buy things on their card and do not get a receipt, they pay their credit payment each month without checking the entries on the statement.

I know one person who has had over 30 different cars, over 40 different motor bikes and 6 different boats, in the same time I have had 4 cars, 1 motor bike and no boats

I think they are crazy and struggle to understand their attitude but They only care about having fun.

I am concerned that some of them will end up in a bad financial situation in their later years But at present we live in a free country so they are entitled to live how they choose

Plus if they fall in ****, your money will be used to help these battlers .
So who is the idiot ultimately?
I know....

 

[farmerge]

Plus if they fall in ****, your money will be used to help these battlers .
So who is the idiot ultimately?
I know....

The wallet is being closed tight.

 

[Value Collector]

Not that I am into laundering cash, but I thought that the casinos were the obvious places and perhaps the racetracks also.

Well the point of laundering cash is to take money that you earned illegally, and make it appear like you earned it legally.

if you are a long term career crook, earning a lot of money in organised crime, it’s going to look weird if every year for a decade you seem to be winning $1 Million at the casino.

But, it doesn’t look weird if you owned a few small of medium legit businesses to run an extra $1M though them each year.

Now maybe if you owned a pub that had pokies in it, you pay some one to sit there all day feeding in your dirty cash until they lost it all (and you won it all) but you also by law have to have video surveillance covering your pokies.

 

[farmerge]

Well the point of laundering cash is to take money that you earned illegally, and make it appear like you earned it legally.

if you are a long term career crook, earning a lot of money in organised crime, it’s going to look weird if every year for a decade you seem to be winning $1 Million at the casino.

But, it doesn’t look weird if you owned a few small of medium legit businesses to run an extra $1M though them each year.

Now maybe if you owned a pub that had pokies in it, you pay some one to sit there all day feeding in your dirty cash until they lost it all (and you won it all) but you also by law have to have video surveillance covering your pokies.

@Value Collector It all boils down to "means and ways"

 

[Dona Ferentes]

I was browsing in a secondhand book shop, and found these, 4 × $50, good condition but not mint, inside a yellowing, published 1984, book.


They feel genuine, watermarks, the thread, etc, ... local shop wouldn't take them, though. Any ideas?

 

[divs4ever]

try a coin shop or the Reserve Bank of Australia ( in Pitt Street , Sydney , last time i visited )

however a private collector might be interested , you might even get more than face value ( from the private collector )

 

[Craton]

I was browsing in a secondhand book shop, and found these, 4 × $50, good condition but not mint, inside a yellowing, published 1984, book.

View attachment 173343
They feel genuine, watermarks, the thread, etc, ... local shop wouldn't take them, though. Any ideas?

From the RBA on redeeming old bank notes and reads in part:

Redeeming Old Banknotes​

All previous issues of Australian banknotes retain their legal tender status. However, it is a long time since some of these banknotes were issued into circulation in Australia and some retailers or members of the public may be reluctant to accept them. People may be unfamiliar with the designs and may suspect the banknotes to be counterfeit.Most commercial banks will redeem old Australian banknotes at face value.

A commercial bank may require some time to confirm that a banknote from a previous series is genuine or may need to send such banknotes to the Reserve Bank for confirmation.

 

[macca]

I was browsing in a secondhand book shop, and found these, 4 × $50, good condition but not mint, inside a yellowing, published 1984, book.

View attachment 173343
They feel genuine, watermarks, the thread, etc, ... local shop wouldn't take them, though. Any ideas?

Go to a bank where you have an account and deposit them, best be sure they are not counterfeit or the bank may get upset.

Tell them the story first then ask to deposit them as $200

 

[mullokintyre]

I was browsing in a secondhand book shop, and found these, 4 × $50, good condition but not mint, inside a yellowing, published 1984, book.

View attachment 173343
They feel genuine, watermarks, the thread, etc, ... local shop wouldn't take them, though. Any ideas?

Hope you bought the book.
Mick

 

[Belli]

Small shopping centre. The butcher and the hairdresser both have similar signs outside:

"Cash preferred as payment. It doesn't have a surcharge."

 

[Value Collector]

I was browsing in a secondhand book shop, and found these, 4 × $50, good condition but not mint, inside a yellowing, published 1984, book.

View attachment 173343
They feel genuine, watermarks, the thread, etc, ... local shop wouldn't take them, though. Any ideas?

Hahaha, did you buy the book at least, otherwise it’s theft.