BE WARY, BE VERY WARY! m/r
War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches
by Tyler Durden Nov 17, 2016
Submitted by Simon Black via SovereignMan.com,
Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.
Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”
(How convenient that a bank would propose something that’s good for banks!)
This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).
In September 2015, Australian bank Westpac published its “Cash Free Report”, suggesting that the country would become cashless by 2022.
In July 2016, Australian payments firm Tyro published an enormously self-serving blog post touting the benefits of a cashless society and saying, “it’s only a matter of time.”
-go to links-
Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.
Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”
(How convenient that a bank would propose something that’s good for banks!)
This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).
In September 2015, Australian bank Westpac published its “Cash Free Report”, suggesting that the country would become cashless by 2022.
In July 2016, Australian payments firm Tyro published an enormously self-serving blog post touting the benefits of a cashless society and saying, “it’s only a matter of time.”
-go to links-
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