$10K cash payment limit in Australia

Discussion in 'Off Topic' started by turkeydance, May 8, 2018.

  1. turkeydance

    turkeydance Active Member

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  2. fishgutzy

    fishgutzy Senior Member Supporting Member

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    I'm sure criminals will conduct all large contraband transactions in full compliance with all financial transaction laws.
     
  3. backwoodsshooter

    backwoodsshooter There’s no such things as ghost guns or ghost Charter Member Supporting Member

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    Taxation is theft.

    But, when they find a way around this, they’ll lower it to 5k, then 1k, then they will force electronic transfer for all transaction.
     
  4. fishgutzy

    fishgutzy Senior Member Supporting Member

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    Democrats have been floating the idea of banning all bills larger than $10 to make doing business in cash (they say to attack crime) eventually impossible. Once they can eliminate cash they can control everyone by simply "accidentally" shutting off access to ones accounts, just like China is doing.
    It is worth noting that China pushes going cashless as a convenience. But that doesn't work for foreign businessmen or tourists because one must have a Chinese bank account to doing anything in their cashless system, mostly via WeChat.
     
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  5. noway2

    noway2 Senior Member Charter Life Member

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    You know the stupid R’s about go off in their Jockies at this idea too. There hasn’t been an element of the surveillance state that they ever opposed.

    It’s just one more way to eliminate privacy and another line in the sand where the people need to either grow or strap on a pair of brass ones and say NO!
     
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  6. JimB

    JimB Picking it up slowly. Benefactor Charter Life Member

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    One issue here will be cryptocurrency. It is way to volatile now, but once it settles down it could be used to replace a bunch of cash transactions. There are security issues around transaction history, but I think those could be fixed.
     
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  7. concepthomes1

    concepthomes1 Your Neighbor Staff Member Charter Member Benefactor

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    I'm patiently waiting for cryptocurrencies to level out. I'd love to delve deeper into that market once some of the risk is mitigated.
     
  8. CZfool68

    CZfool68 Int'l Man of Mystery Charter Member Sponsor Supporting Member

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    Maybe someone can open a store where it is all barter. So you can go in and trade your excess 22lr for a couple steaks, or you can trade your extra 3 beers from that 12 pack for 3 rounds of .308. :p
     
  9. noway2

    noway2 Senior Member Charter Life Member

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    I've started to suspect that crypto currencies are signaling a demand from the public for a private means of exchange, including one that works online, that isn't under the purview of a nation state.
     
  10. CZfool68

    CZfool68 Int'l Man of Mystery Charter Member Sponsor Supporting Member

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    Or they are all secretly started by NSA and big gov types to slowly create a new world currency. :eek:
     
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  11. Ikarus1

    Ikarus1 Avtomat Krishna-kov

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    DoD creates internet, internet commerce destroys retail, crypto becomes the defacto mark of the beast (although I still think that is the Apple symbol ala Apple pay)
     
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  12. JimB

    JimB Picking it up slowly. Benefactor Charter Life Member

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    I think to work the winning crypto would need to be not a bank but a highly trusted entity that is not a nation state.
     
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  13. backwoodsshooter

    backwoodsshooter There’s no such things as ghost guns or ghost Charter Member Supporting Member

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    Oh I have no doubt. The wife looked at me crazy when I told her we needed to keep the majority or our meager savings out of the bank.

    But then when the banks wasn’t open and we had our card numbers stolen it finally clicked
     
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  14. willpgn

    willpgn Active Member Supporting Member

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    Wrong, wrong, wrong...corrected below...

     
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  15. fishgutzy

    fishgutzy Senior Member Supporting Member

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    Last night when I went to the gym in China to sign up for the month the woman asked of I was going to pay with WeChat or credit card. She seemed shocked and didn't know what to do when I pulled out 600RMB ($100) cash. [side note, my YMCA family membership is only $88]
    China is seriously pushing the Chinese to abandon cash as much as possible. They'll never get rid of it because their system requires having a bank account in China. And many business travelers get cash per diem like I do.
     
  16. JimB

    JimB Picking it up slowly. Benefactor Charter Life Member

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    So it’s just like McDonalds here?
     
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  17. Curmudgeon

    Curmudgeon Is it time yet? Supporting Member

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  18. turkeydance

    turkeydance Active Member

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    more on Sweden:
    quotes:
    here’s a dead-end job: Swedish bank robber. In 2016, there were only two bank heists in all of Sweden, compared with 110 eight years earlier. Why the steep plunge? The country’s bent on going cashless.
    Crimes against people—assault, robbery, fraud—are on the rise. The Swedish National Council for Crime Prevention found that in 2016, 15.6 percent of the country’s citizens fell prey
    to at least one such offense—the highest rate since the council launched its annual crime survey, 10 years before.
    link:
    https://www.theatlantic.com/magazine/archive/2018/06/stealing-owls/559136/
     

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