As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.
https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
No. I once withdrew $9k but that was before the days of ready bank transfers.
But there seems to be a roll out of Indue where people on Newstart can only have access to $20 cash a day.
Tamb said:
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It will be involved with the negative interest rate system.
That was in article linked.
sarahs mum said:
Tamb said:
dv said:How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It will be involved with the negative interest rate system.That was in article linked.
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
party_pants said:
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
Chicken sandwich v egg a day problem.
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
that was an interesting read
party_pants said:
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
dv said:
party_pants said:
dv said:How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
probably incline putting money in shares, super, variously other investments
dv said:
party_pants said:
dv said:How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
Depends how severe the recession gets.
party_pants said:
dv said:
party_pants said:It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
Depends how severe the recession gets.
True. If it is a Great Recession scale event
dv said:
party_pants said:
dv said:How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
… and even if you want to hold more than $10,000 as cash, when you want to pay for your new car, just pay the cash into the bank and buy the car the same day.
dv said:
party_pants said:
dv said:If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
Depends how severe the recession gets.
True. If it is a Great Recession scale event
Yes. We are not in a recession now but interest rates are very low, close to zero already. USA trade separation with China plus Brexit could, in combination, trigger a big recession.
>We are not in a recession now
not sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
party_pants said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
if china announced some democratization plans, into the future, same of a few other countries, it’d help things a lot.
transition said:
party_pants said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
if china announced some democratization plans, into the future, same of a few other countries, it’d help things a lot.
LOOK! Flying pigs.
transition said:
party_pants said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
if china announced some democratization plans, into the future, same of a few other countries, it’d help things a lot.
Yeah, that ain’t gunna happen any time soon.
transition said:
party_pants said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
if china announced some democratization plans, into the future, same of a few other countries, it’d help things a lot.
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Isn’t a recession inevitable if the human race becomes responsible and decides not to continually expand our economies at the expense of everything else
sarahs mum said:
transition said:
party_pants said:Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
if china announced some democratization plans, into the future, same of a few other countries, it’d help things a lot.
LOOK! Flying pigs.
pressure’s on
they’ll join the slow grind of (democratic) power limiting eventually
sarahs mum said:
transition said:
party_pants said:Recession by definition is two consecutive quarters of negative growth, as measured by official statistics. There may be some fiddly around the margins with the numbers, but are not actually there officially.
But what Australia does or can do will be determined by events outside our control. The possible future USA/China economic separation could send us into a decade long period of stagnation, just as the rise of China driven in part by US direct foreign investment gave us two decades of steady growth. Brexit would be another global economic shock.
if china announced some democratization plans, into the future, same of a few other countries, it’d help things a lot.
LOOK! Flying pigs.
:)
Cymek said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Isn’t a recession inevitable if the human race becomes responsible and decides not to continually expand our economies at the expense of everything else
fairly much, there’s a different life down the track
you’ll have time to prune the roses, and listen to the birds, eventually, before you are old
transition said:
Cymek said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Isn’t a recession inevitable if the human race becomes responsible and decides not to continually expand our economies at the expense of everything else
fairly much, there’s a different life down the track
you’ll have time to prune the roses, and listen to the birds, eventually, before you are old
I was thinking Perth CBD has evolved a lot over the last 5 years, new shops everywhere but they still offer the same old same old with each pinching customers from each other. I wonder if more money is being spent or its the same amount as 5 years ago but now spread out over numerous more businesses. Profit no longer seems acceptable is has to be more than last time but that doesn’t even make logic sense if you have more competition. Plus Australia’s economy as is normal is at the mercy of much larger economies to basically keep us alive and they don’t care about us except as some plaything
Cymek said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Isn’t a recession inevitable if the human race becomes responsible and decides not to continually expand our economies at the expense of everything else
No.
Economic measures are based on money, not consumption of resources, so for instance if everyone invested in energy saving measures, and spent all the resulting savings on taking public transport to attend classical music concerts in dimly lit theatres, that could allow for both economic growth and reduction in use of resources.
The Rev Dodgson said:
Cymek said:
transition said:
>We are not in a recession nownot sure about that, I got the feeling Australia has been for a year or more, adjustments have been made, successful adjustments largely, mitigating the slow down
some of the slow down is a response to increased environmental responsibility, along with awareness of future uncertainty
‘growth’ stopped being (understood as) the fix-it-all patch for the true cost of development/progress
capitalism is evolving
Isn’t a recession inevitable if the human race becomes responsible and decides not to continually expand our economies at the expense of everything else
No.
Economic measures are based on money, not consumption of resources, so for instance if everyone invested in energy saving measures, and spent all the resulting savings on taking public transport to attend classical music concerts in dimly lit theatres, that could allow for both economic growth and reduction in use of resources.
mind the flying pigs Rev.
party_pants said:
The Rev Dodgson said:
Cymek said:Isn’t a recession inevitable if the human race becomes responsible and decides not to continually expand our economies at the expense of everything else
No.
Economic measures are based on money, not consumption of resources, so for instance if everyone invested in energy saving measures, and spent all the resulting savings on taking public transport to attend classical music concerts in dimly lit theatres, that could allow for both economic growth and reduction in use of resources.
mind the flying pigs Rev.
We are consuming resources to make money though and if it was decided we will make do with the current usage and not increase could our economy cope or does it only work if it expands year after year.
Cymek said:
party_pants said:
The Rev Dodgson said:No.
Economic measures are based on money, not consumption of resources, so for instance if everyone invested in energy saving measures, and spent all the resulting savings on taking public transport to attend classical music concerts in dimly lit theatres, that could allow for both economic growth and reduction in use of resources.
mind the flying pigs Rev.
We are consuming resources to make money though and if it was decided we will make do with the current usage and not increase could our economy cope or does it only work if it expands year after year.
Certainly true of some things like energy derived from crude oil/gas, and applicable to sectors like fishing and uncontrolled timber harvesting. Not so true of other area, lots of metals can be gathered up and recycled for example. Phosphate recycling might become an issue for future generations.
The Rev Dodgson said:
dv said:
party_pants said:It makes people spend money on stuff if interest rates are negative. One way of combating negative interest rates is to hold cash instead. Making it hard to gain and use cash, some people would just spend the money now rather than lose money held in bank deposits.
If you have $10000, it should not be in an account with negative effective interest. Even during a recession, there will be better investments than that. Cash accounts are for small amounts of money, for spending convenience.
And if it is an amount less than $10000, then this legislation won’t affect it. You can still make $9999 cash transactions.
… and even if you want to hold more than $10,000 as cash, when you want to pay for your new car, just pay the cash into the bank and buy the car the same day.
all my Over $10,000 cash transactions are only for large drug purchases or as security to the hired ‘cleaners’
Behold the rise in cryptocurrency!
Already popular with criminals because it’s virtually untraceable, govt never knows how much you have, and you can transfer it around as much as you like without anyone knowing anything.
Cash? Who uses cash these days anyway?
Already a few stores at my local Westfield accept cryptocurrency. If the govt try to ban something, it just creates a rise in some other form of whatever it is they’re trying to ban.
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
Frequently.
It’s not unusal for savings of a person in full time work to exceed $10,000. It’s also not unusual to put the money into an investment that charges a fee for non-cash deposits.
Another example is where i want to invest money which has come from more than one source. In that case it’s easiest to withdraw cash separately from the individual accounts so as to deposit it in one hit. It saves a lot of hassle to ensure that all partial payments into the new investment arrive at the exact same time.
And as for withdrawing amounts exceeding $10,000 to buy a car, a holiday, as part payment on a house sold by private sale, that’s even more common. The limits on internet “pay anyone” transactions are tiny and this can be an absolute pain when, say, lending money to a family member – cash is easier.
Nothing black about it.
And you don’t want to increase the “pay anyone” limits, allowing big transactions over the internet sures make theft a doddle.
There’s a prevalent myth that putting everything on the internet makes everything easier. Tried to deposit $65,000 into an online savings accout last week. Was a absolute pain, took several days and a three hour phone call. Would have been four times as easy to just take cash out of one office, walk a few blocks and deposit it in the other office.
mollwollfumble said:
dv said:
sarahs mum said:
As the Federal Government moves to ban cash transactions above $10,000, there’s a theory gaining traction that the real motive for the cash ban isn’t the so-called “black economy”, but rather, to give authorities greater control over your behaviour during recessions.https://www.abc.net.au/news/2019-08-26/cash-ban-so-you-pay-the-bank-to-hold-your-money-what-imf-wants/11443646
How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
Frequently.
It’s not unusal for savings of a person in full time work to exceed $10,000. It’s also not unusual to put the money into an investment that charges a fee for non-cash deposits.
Another example is where i want to invest money which has come from more than one source. In that case it’s easiest to withdraw cash separately from the individual accounts so as to deposit it in one hit. It saves a lot of hassle to ensure that all partial payments into the new investment arrive at the exact same time.
And as for withdrawing amounts exceeding $10,000 to buy a car, a holiday, as part payment on a house sold by private sale, that’s even more common. The limits on internet “pay anyone” transactions are tiny and this can be an absolute pain when, say, lending money to a family member – cash is easier.
Nothing black about it.
And you don’t want to increase the “pay anyone” limits, allowing big transactions over the internet sures make theft a doddle.
There’s a prevalent myth that putting everything on the internet makes everything easier. Tried to deposit $65,000 into an online savings accout last week. Was a absolute pain, took several days and a three hour phone call. Would have been four times as easy to just take cash out of one office, walk a few blocks and deposit it in the other office.
Fucken mad, you are. The idea that it is earier to withdraw $10000 in notes and carry it to go buy a car rather than just do it all on your phone is crazy. The only reason to do it would be because one or more parties wanted to evade tax illegally.
dv said:
mollwollfumble said:
dv said:How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
Frequently.
It’s not unusal for savings of a person in full time work to exceed $10,000. It’s also not unusual to put the money into an investment that charges a fee for non-cash deposits.
Another example is where i want to invest money which has come from more than one source. In that case it’s easiest to withdraw cash separately from the individual accounts so as to deposit it in one hit. It saves a lot of hassle to ensure that all partial payments into the new investment arrive at the exact same time.
And as for withdrawing amounts exceeding $10,000 to buy a car, a holiday, as part payment on a house sold by private sale, that’s even more common. The limits on internet “pay anyone” transactions are tiny and this can be an absolute pain when, say, lending money to a family member – cash is easier.
Nothing black about it.
And you don’t want to increase the “pay anyone” limits, allowing big transactions over the internet sures make theft a doddle.
There’s a prevalent myth that putting everything on the internet makes everything easier. Tried to deposit $65,000 into an online savings accout last week. Was a absolute pain, took several days and a three hour phone call. Would have been four times as easy to just take cash out of one office, walk a few blocks and deposit it in the other office.
Fucken mad, you are. The idea that it is earier to withdraw $10000 in notes and carry it to go buy a car rather than just do it all on your phone is crazy. The only reason to do it would be because one or more parties wanted to evade tax illegally.
Not mad. Mad to send that amount of money over the internet with hackers looking on.
dv said:
mollwollfumble said:
dv said:How will banning cash transactions over $10000 give authorities greater control over my behaviour during recessions?
Or ever. I mean I’ve never made a cash transaction over $10000, or even wanted to.
Have you?
Frequently.
It’s not unusal for savings of a person in full time work to exceed $10,000. It’s also not unusual to put the money into an investment that charges a fee for non-cash deposits.
Another example is where i want to invest money which has come from more than one source. In that case it’s easiest to withdraw cash separately from the individual accounts so as to deposit it in one hit. It saves a lot of hassle to ensure that all partial payments into the new investment arrive at the exact same time.
And as for withdrawing amounts exceeding $10,000 to buy a car, a holiday, as part payment on a house sold by private sale, that’s even more common. The limits on internet “pay anyone” transactions are tiny and this can be an absolute pain when, say, lending money to a family member – cash is easier.
Nothing black about it.
And you don’t want to increase the “pay anyone” limits, allowing big transactions over the internet sures make theft a doddle.
There’s a prevalent myth that putting everything on the internet makes everything easier. Tried to deposit $65,000 into an online savings accout last week. Was a absolute pain, took several days and a three hour phone call. Would have been four times as easy to just take cash out of one office, walk a few blocks and deposit it in the other office.
Fucken mad, you are. The idea that it is earier to withdraw $10000 in notes and carry it to go buy a car rather than just do it all on your phone is crazy. The only reason to do it would be because one or more parties wanted to evade tax illegally.
As for the “pay anyone” limits: you can adjust them arbitrarily, via the app.
mollwollfumble said:
dv said:
mollwollfumble said:Frequently.
It’s not unusal for savings of a person in full time work to exceed $10,000. It’s also not unusual to put the money into an investment that charges a fee for non-cash deposits.
Another example is where i want to invest money which has come from more than one source. In that case it’s easiest to withdraw cash separately from the individual accounts so as to deposit it in one hit. It saves a lot of hassle to ensure that all partial payments into the new investment arrive at the exact same time.
And as for withdrawing amounts exceeding $10,000 to buy a car, a holiday, as part payment on a house sold by private sale, that’s even more common. The limits on internet “pay anyone” transactions are tiny and this can be an absolute pain when, say, lending money to a family member – cash is easier.
Nothing black about it.
And you don’t want to increase the “pay anyone” limits, allowing big transactions over the internet sures make theft a doddle.
There’s a prevalent myth that putting everything on the internet makes everything easier. Tried to deposit $65,000 into an online savings accout last week. Was a absolute pain, took several days and a three hour phone call. Would have been four times as easy to just take cash out of one office, walk a few blocks and deposit it in the other office.
Fucken mad, you are. The idea that it is earier to withdraw $10000 in notes and carry it to go buy a car rather than just do it all on your phone is crazy. The only reason to do it would be because one or more parties wanted to evade tax illegally.
Not mad. Mad to send that amount of money over the internet with hackers looking on.
If stolen though you have means to retrieve it especially if a audit trail exists, mugged for the cash and its gone
mollwollfumble said:
dv said:
mollwollfumble said:Frequently.
It’s not unusal for savings of a person in full time work to exceed $10,000. It’s also not unusual to put the money into an investment that charges a fee for non-cash deposits.
Another example is where i want to invest money which has come from more than one source. In that case it’s easiest to withdraw cash separately from the individual accounts so as to deposit it in one hit. It saves a lot of hassle to ensure that all partial payments into the new investment arrive at the exact same time.
And as for withdrawing amounts exceeding $10,000 to buy a car, a holiday, as part payment on a house sold by private sale, that’s even more common. The limits on internet “pay anyone” transactions are tiny and this can be an absolute pain when, say, lending money to a family member – cash is easier.
Nothing black about it.
And you don’t want to increase the “pay anyone” limits, allowing big transactions over the internet sures make theft a doddle.
There’s a prevalent myth that putting everything on the internet makes everything easier. Tried to deposit $65,000 into an online savings accout last week. Was a absolute pain, took several days and a three hour phone call. Would have been four times as easy to just take cash out of one office, walk a few blocks and deposit it in the other office.
Fucken mad, you are. The idea that it is earier to withdraw $10000 in notes and carry it to go buy a car rather than just do it all on your phone is crazy. The only reason to do it would be because one or more parties wanted to evade tax illegally.
Not mad. Mad to send that amount of money over the internet with hackers looking on.
Someone hacks my account, there’s a trail. Wire fraud is detected and dealt with easily.
Someone sees you headed to a dealership with a bag of banknotes and sticks me you for thirty large, you’re completely fucked, there’s no coming back from it.
And yeah I have helped out family members with five digit loans and it wasn’t by rocking up with a dufflebag full of twenties
dv said:
And yeah I have helped out family members with five digit loans and it wasn’t by rocking up with a dufflebag full of twenties
he’s right, I frisked him and Mrs DV the other day and they hardly had a dime on them.
Arts said:
dv said:
And yeah I have helped out family members with five digit loans and it wasn’t by rocking up with a dufflebag full of twenties
he’s right, I frisked him and Mrs DV the other day and they hardly had a dime on them.
We literally had no cash on us. There might be a couple of coins under the seat in the car.
There’s a German butcher called Elmar on Beaufort Street. They only take cash. Normally I’d just go somewhere else when I find out that a business won’t take cards but Elmar is pretty great. The purchases I make there are the only cash transactions I make.
dv said:
And yeah I have helped out family members with five digit loans and it wasn’t by rocking up with a dufflebag full of twenties
He could be Don mollwollfumble and no one dares disrespect him by stealing his 65 large
dv said:
Arts said:
dv said:
And yeah I have helped out family members with five digit loans and it wasn’t by rocking up with a dufflebag full of twenties
he’s right, I frisked him and Mrs DV the other day and they hardly had a dime on them.
We literally had no cash on us. There might be a couple of coins under the seat in the car.
There’s a German butcher called Elmar on Beaufort Street. They only take cash. Normally I’d just go somewhere else when I find out that a business won’t take cards but Elmar is pretty great. The purchases I make there are the only cash transactions I make.
Street beggars despise your kind.
sibeen said:
dv said:
Arts said:he’s right, I frisked him and Mrs DV the other day and they hardly had a dime on them.
We literally had no cash on us. There might be a couple of coins under the seat in the car.
There’s a German butcher called Elmar on Beaufort Street. They only take cash. Normally I’d just go somewhere else when I find out that a business won’t take cards but Elmar is pretty great. The purchases I make there are the only cash transactions I make.
Street beggars despise your kind.
They do I can honestly tell them I have no money
Like you can print a dollar note for like less than 1c for a big order but it takes more electricity than NZ uses in a year to make 1 bitcoin, it’s amazing.
This is why I spend all day transfixed to the computer wide eyed as I click on link after link telling me 12 amazing things I didn’t know, 5 things that happened to Elizabeth Taylor and 8 recipes using breast milk.
Day after day after day……..Morris Dancing – The Dark Side…….The Sad Life and Death of Roger Braintree………on and on and on……………….
Anyway each to his own I suppose
Peak Warming Man said:
Like you can print a dollar note for like less than 1c for a big order but it takes more electricity than NZ uses in a year to make 1 bitcoin, it’s amazing.
This is why I spend all day transfixed to the computer wide eyed as I click on link after link telling me 12 amazing things I didn’t know, 5 things that happened to Elizabeth Taylor and 8 recipes using breast milk.
Day after day after day……..Morris Dancing – The Dark Side…….The Sad Life and Death of Roger Braintree………on and on and on……………….
You’ll Be Mentally Sectioned Over What Marcia Brady Looks Like Now
Peak Warming Man said:
Like you can print a dollar note for like less than 1c for a big order but it takes more electricity than NZ uses in a year to make 1 bitcoin, it’s amazing.
This is why I spend all day transfixed to the computer wide eyed as I click on link after link telling me 12 amazing things I didn’t know, 5 things that happened to Elizabeth Taylor and 8 recipes using breast milk.
Day after day after day……..Morris Dancing – The Dark Side…….The Sad Life and Death of Roger Braintree………on and on and on……………….
Bitcoin works for those than can trick or hijack others computers to do the work
Bubblecar said:
Peak Warming Man said:
Like you can print a dollar note for like less than 1c for a big order but it takes more electricity than NZ uses in a year to make 1 bitcoin, it’s amazing.
This is why I spend all day transfixed to the computer wide eyed as I click on link after link telling me 12 amazing things I didn’t know, 5 things that happened to Elizabeth Taylor and 8 recipes using breast milk.
Day after day after day……..Morris Dancing – The Dark Side…….The Sad Life and Death of Roger Braintree………on and on and on……………….
You’ll Be Mentally Sectioned Over What Marcia Brady Looks Like Now
Link?
Anyway the most cash I withdraw these days is the $70 to pay Mr Tunks for the mowing.
Everything else, Eftpos, Pay-Me-Pal or transfer.
Peak Warming Man said:
Bubblecar said:
Peak Warming Man said:
Like you can print a dollar note for like less than 1c for a big order but it takes more electricity than NZ uses in a year to make 1 bitcoin, it’s amazing.
This is why I spend all day transfixed to the computer wide eyed as I click on link after link telling me 12 amazing things I didn’t know, 5 things that happened to Elizabeth Taylor and 8 recipes using breast milk.
Day after day after day……..Morris Dancing – The Dark Side…….The Sad Life and Death of Roger Braintree………on and on and on……………….
You’ll Be Mentally Sectioned Over What Marcia Brady Looks Like Now
Link?
Jane would be happy I imagine
Marcia Marcia Marica bwahahah
Cymek said:
Peak Warming Man said:
Bubblecar said:You’ll Be Mentally Sectioned Over What Marcia Brady Looks Like Now
Link?
Jane would be happy I imagine
Marcia Marcia Marica bwahahah
Jan
dv said:
Anyway each to his own I suppose
A greed.
The Rev Dodgson said:
dv said:
Anyway each to his own I suppose
A greed.
damn, that’s some shade right there
Peak Warming Man said:
Bubblecar said:
Peak Warming Man said:
Like you can print a dollar note for like less than 1c for a big order but it takes more electricity than NZ uses in a year to make 1 bitcoin, it’s amazing.
This is why I spend all day transfixed to the computer wide eyed as I click on link after link telling me 12 amazing things I didn’t know, 5 things that happened to Elizabeth Taylor and 8 recipes using breast milk.
Day after day after day……..Morris Dancing – The Dark Side…….The Sad Life and Death of Roger Braintree………on and on and on……………….
You’ll Be Mentally Sectioned Over What Marcia Brady Looks Like Now
Link?
I’m sorry to hear Roger Braintree’s no more…
Bubblecar said:
You’ll Be Mentally Sectioned Over What Marcia Brady Looks Like Now
Dunno what that’s supposed to mean.
In all of the recent images of Maureen McCormick that i can turn up, she looks pretty well-preserved.
The Rev Dodgson said:
dv said:
Anyway each to his own I suppose
A greed.
Nah. Not agreed. Suppose a private individual wants to buy a used car from a private individual.
Don’y laugh, it could happen.
Cash over $10,000 is the way to do it. Not ten daily internet payments. Bank cheque costs money. Cheque, who’s kiddimg who?
mollwollfumble said:
The Rev Dodgson said:
dv said:
Anyway each to his own I suppose
A greed.
Nah. Not agreed. Suppose a private individual wants to buy a used car from a private individual.
Don’y laugh, it could happen.
Cash over $10,000 is the way to do it. Not ten daily internet payments. Bank cheque costs money. Cheque, who’s kiddimg who?
$15 for a bank cheque is hardly onerous for the peace of mind of knowing you’re not going to get done over by some junkie who happened to witness you withdrawal the cash.
mollwollfumble said:
The Rev Dodgson said:
dv said:
Anyway each to his own I suppose
A greed.
Nah. Not agreed. Suppose a private individual wants to buy a used car from a private individual.
Don’y laugh, it could happen.
Cash over $10,000 is the way to do it. Not ten daily internet payments. Bank cheque costs money. Cheque, who’s kiddimg who?
“ten daily internet payments”
Maximum transfer value can be set arbitrarily by the user via the app.
mollwollfumble said:
Cheque, who’s kiddimg who?
What do you mean?
Can I just say that I use cash for all my transactions?
I do it that way so my transactions are anonymous. As DA said earlier, if they make it illegal to conduct transactions in cash, people like me are going to use other untracable means.
The Rev Dodgson said:
mollwollfumble said:Cheque, who’s kiddimg who?
What do you mean?
Mrs m is the only person i know who still uses personal cheques. Cheque accounts earn less interest, and take forever to clear. If they clear at all.
btm said:
Can I just say that I use cash for all my transactions?I do it that way so my transactions are anonymous. As DA said earlier, if they make it illegal to conduct transactions in cash, people like me are going to use other untracable means.
Do you store your cash under your tin-foil hat? :-)
without a shred of impertinence intended, Moll you are the epitome of the saying “I reject your reality and replace it with my own”.
Arts said:
without a shred of impertinence intended, Moll you are the epitome of the saying “I reject your reality and replace it with my own”.
Wow! I’m another Adam Savage. What an incredible compliment.
LOL.
I never believe anything without checking the original sources. It’s a level of detail few people have the stomach for.
Oh, and don’t expect my beliefs to be the same from one day to the next. Science isn’t.
On this topic, though, i’m deliberately being an extremist. Although i wasn’t joking when i said that it took many days and a three hour phone call to get $65,000 transferred over the internet last week. Cash or bank cheque would have been easier.
mollwollfumble said:
Arts said:
without a shred of impertinence intended, Moll you are the epitome of the saying “I reject your reality and replace it with my own”.
Wow! I’m another Adam Savage. What an incredible compliment.
…
The phrase was first used (as far as I can discover) in a 1984 film called The Dungeonmaster.
btm said:
mollwollfumble said:
Arts said:
without a shred of impertinence intended, Moll you are the epitome of the saying “I reject your reality and replace it with my own”.
Wow! I’m another Adam Savage. What an incredible compliment.
…
The phrase was first used (as far as I can discover) in a 1984 film called The Dungeonmaster.
I reject your reality and replace it with my own.
dv said:
mollwollfumble said:
The Rev Dodgson said:A greed.
Nah. Not agreed. Suppose a private individual wants to buy a used car from a private individual.
Don’y laugh, it could happen.
Cash over $10,000 is the way to do it. Not ten daily internet payments. Bank cheque costs money. Cheque, who’s kiddimg who?
“ten daily internet payments”
Maximum transfer value can be set arbitrarily by the user via the app.
Not that I can see.
Would’ve been useful when we were having the building work done. But the builder understood. I gave him a copy of the receipts. He checked against his statements and all was hunky-dory.
Michael V said:
dv said:
mollwollfumble said:Nah. Not agreed. Suppose a private individual wants to buy a used car from a private individual.
Don’y laugh, it could happen.
Cash over $10,000 is the way to do it. Not ten daily internet payments. Bank cheque costs money. Cheque, who’s kiddimg who?
“ten daily internet payments”
Maximum transfer value can be set arbitrarily by the user via the app.
Not that I can see.
Would’ve been useful when we were having the building work done. But the builder understood. I gave him a copy of the receipts. He checked against his statements and all was hunky-dory.
Depends on the bank presumably.
With St George it isn’t that obvious, but you can lift the limit to 100,000 pretty easily.
sibeen said:
dv said:
Arts said:he’s right, I frisked him and Mrs DV the other day and they hardly had a dime on them.
We literally had no cash on us. There might be a couple of coins under the seat in the car.
There’s a German butcher called Elmar on Beaufort Street. They only take cash. Normally I’d just go somewhere else when I find out that a business won’t take cards but Elmar is pretty great. The purchases I make there are the only cash transactions I make.
Street beggars despise your kind.
Michael V said:
dv said:
mollwollfumble said:Nah. Not agreed. Suppose a private individual wants to buy a used car from a private individual.
Don’y laugh, it could happen.
Cash over $10,000 is the way to do it. Not ten daily internet payments. Bank cheque costs money. Cheque, who’s kiddimg who?
“ten daily internet payments”
Maximum transfer value can be set arbitrarily by the user via the app.
Not that I can see.
Would’ve been useful when we were having the building work done. But the builder understood. I gave him a copy of the receipts. He checked against his statements and all was hunky-dory.
Not sure what bank you are with but with NAB it is in Settings
dv said:
Michael V said:
dv said:“ten daily internet payments”
Maximum transfer value can be set arbitrarily by the user via the app.
Not that I can see.
Would’ve been useful when we were having the building work done. But the builder understood. I gave him a copy of the receipts. He checked against his statements and all was hunky-dory.
Not sure what bank you are with but with NAB it is in Settings
I’ll check when I make some bill payments tomorrow. I don’t remember any “Settings”, but I’ll see. Thanks.
Michael V said:
dv said:
Michael V said:Not that I can see.
Would’ve been useful when we were having the building work done. But the builder understood. I gave him a copy of the receipts. He checked against his statements and all was hunky-dory.
Not sure what bank you are with but with NAB it is in Settings
I’ll check when I make some bill payments tomorrow. I don’t remember any “Settings”, but I’ll see. Thanks.
Thanks DV. There is a “Settings” tab in my bank’s internet banking page, and in there, there is a user-defined “Pay Anyone” limit.
Thanks again.
Michael V said:
Michael V said:
dv said:Not sure what bank you are with but with NAB it is in Settings
I’ll check when I make some bill payments tomorrow. I don’t remember any “Settings”, but I’ll see. Thanks.
Thanks DV. There is a “Settings” tab in my bank’s internet banking page, and in there, there is a user-defined “Pay Anyone” limit.
Thanks again.
you can always have a test run with me.. increase the limit to the highest amount, then put in my bank account details and press send…
Arts said:
Michael V said:
Michael V said:I’ll check when I make some bill payments tomorrow. I don’t remember any “Settings”, but I’ll see. Thanks.
Thanks DV. There is a “Settings” tab in my bank’s internet banking page, and in there, there is a user-defined “Pay Anyone” limit.
Thanks again.
you can always have a test run with me.. increase the limit to the highest amount, then put in my bank account details and press send…
That’s right neighbourly
Arts said:
Michael V said:
Michael V said:I’ll check when I make some bill payments tomorrow. I don’t remember any “Settings”, but I’ll see. Thanks.
Thanks DV. There is a “Settings” tab in my bank’s internet banking page, and in there, there is a user-defined “Pay Anyone” limit.
Thanks again.
you can always have a test run with me.. increase the limit to the highest amount, then put in my bank account details and press send…
OK. What’re your bank account details?