Living in a cashless country.

[billy the kid]

https://www.zerohedge.com/news/2019-04- ... lan-fk-you

Believe what you want to believe...
This is an interesting read for those concerned about interest rates, inflation, deflation, living within
a cashless society, and so on and so on....

[Neferti]

Isn't our society already CASHLESS? ATMs have closed down, Banks have closed down, the only way you can buy anything these days is online with the credit card, or "swipe" it at the checkout. I haven't seen any Aussie dollars for at least a year!

[cods]

I never ever expected to be hooked on that bloody plastic card.....but it goes everywhere with me...

I have always been a cash person I would go into the bank and draw out money it was normal...

now when I need to have cash for the grandkids I go out specially to get it.....

did anyone see that dear old lady whos been ripping off centerlink for years...claiming shes blind yet she drives..lol.. ACA..

anyway they raided her govy house and she had $240 000 in a SAFE....... shes still walking the walk...

[Black Orchid]

PLENTY of ATMs in Sydney. Why in hell would they remove them all in Canberra? Sounds ridiculous.

I do both but I always like to have some cash on me and at home at all times.

[billy the kid]

Isn't our society already CASHLESS? ATMs have closed down, Banks have closed down, the only way you can buy anything these days is online with the credit card, or "swipe" it at the checkout. I haven't seen any Aussie dollars for at least a year!

Yep, its probably pretty much cashless these days...I cant remember the last time I saw someone pay cash
at a supermarket checkout..although pokie players still use it...
I was mainly interested in the part of the link which refers to the possibility of negative interest rates, and
the possibility of us having to pay a bank to store our digital money with them...
You know...deposit a hundred today...tomorrow its only worth $99....that sort of thing...
Might not apply to wages...well not at first...until us muppets get used to the idea.....
I read some time ago they (IMF) had shelved the idea as a possibility until deflation hit us...
With interest rates and inflation going down, its only a matter of time before its considered again...
Even now the rumour is that the RBA will cut rates next month....who woulda thought....after sitting
on their hands for nearly three years, they may just do something.....well maybe....

[Black Orchid]

Interest rates are lower now than they were in the 1950s.

[billy the kid]

Interest rates are lower now than they were in the 1950s.

Theyll go even lower...the world economies are fucked....

[Black Orchid]

Ticks me off really. When I bought my first house I was paying 18% interest.

I don't need to worry about that now but it ticks me off at the ridiculously paltry rates you get for investments.

[billy the kid]

Ticks me off really. When I bought my first house I was paying 18% interest.

I don't need to worry about that now but it ticks me off at the ridiculously paltry rates you get for investments.

Fortunately, when I bought my first house in 1972, and subsequently, others, I was able to enter into a fixed interest contract.
Since then, borrowers have been conned for decades by the greedy banks, who suddenly realized that they could get their
borrowers to sign contracts where the repayments depended on the interest rate at the time....
If banks reverted back to fixed interest rates for mortgages, theyd all go broke....
The granting of everyone the ability to possess credit cards in the late 70s virtually screwed everyone, and paved the way for variable interest rates.....
Variable interest rates was the only way banks survived....
Banks will never ever give us high interest rates for investments...
Instead, theyll make money by charging you to keep your money in their bank..
Dont scoff....its coming.....

[Texan]

Debit cards are convenient, but I usually keep cash for small purchases like food. If I know I'm going to buy something that I'd rather keep private, I use cash. (Guns, ammo, liquor, etc...). Things like that are legal, but I try to keep my profile as clean and inoffensive as possible. I go through all kinds of background checks several times per year for my job. I also stay off of social media. This is as social as I get.