Australia is considering making it's money worthless by

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Because australians are retarded

>>132332794
that's a /thread folks

>>132332794
/thread

>>132332536
In the book Cloud Atlas there's one story set in the future where they have implemented unconditional basic income, but at the end of each month anything you haven't saved is just deleted, rather than 'rolled over'.

>>132333330
>anything you haven't saved
anything you haven't _spent_

>>132332536
Source on this?
First I have heard of it o.O
And Google is coming up blank

>>132333333
I gotta know if it was wasted

>>132332536
Source please, this is concerning.

>>132333330
How to incentivize a black market 101

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>>132332536
Just one more step towards a cashless society, WAKE UP SHEEPLE!

>>132332536

because chinese are taking it offshore and hoarding it cause they dont trust their own currency.

fucking Jews

>>132333583
A black market in what, cash?
It was all digital in the story.

So just use your cash to buy gold/silver/jewellery/bitcoin

>>132333437
>>132333537

link for the retards

http://archive.is/P4xES

anon, I thought this shit was limited to cucked countries like Sweden, could you please provide a source???

>>132332536
>no source

Do you usually make unsubstantiated claims on the internet?

>>132333635
Not buying crypto currency, stupid gooks

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Isnt this like really good? This would help the economy :D awesome!!!

>>132333743
>jew
ellery

>>132333658
literally anything.

Was it cancelled at the same time for everyone? (if so, nobody would sell anything at the end of the month)

>>132333821
>>132333761
the source post is above.

>>132333761
>>132333764
>>132333871
>>132333891
http://www.news.com.au/finance/economy/australian-economy/cash-crackdown-boss-floats-nanochips-in-notes/news-story/05db2212948c7d02e822532de63c170d

is this some kind of joke

>>132333761
Ok... So I read that post.
HOW THE FUCK do you go from adding tracking devices to $100 bills to expiry dates on cash? reaching much?

>He also pointed the finger at Australian pensioners, saying too many were hiding money under their bed to escape the assets test.

wat?
Is aus going communist too, or is this just for pensions?

>>132333761
I already read about that. But OP had worded his post in a different way and never mentioned this shit. So go fuck yourself.

yea i saw that on the news.

its totalitarianism for the banks control your cash in it's physical form.

so if the banks crash all your money is going down with it, and if you were lucky enough to have it in cash, it will expire soon anyway.

unbelievable!!!

This is a proposal from the tax office as a way to catch tax cheats but the argument but the article doesn't really explain this clearly, so I could be wrong. Having worked for the tax office, it wouldn't take much to catch the tax cheats, it's the Governement ministers who do everything they can to block any proposal to increase investigations into tax cheats or by not enforcing current laws.

>>132332536
so credit would become the only thing when did australia become so jewish

>>132334072
THIS

>>132333836
>>132333743
>crypto
enjoy getting hacked

>this whole fuckin thread
Absolute cancer. Kill yourselves cunts.

>>132334110
The western banking system must really be bankrupt if banning cash seems to be the flavour of the month, people won't be able to withdraw their money and create a run on the banks if cash was banned.

>>132334146
the btc blockchain is large enough to withstand a 51% attack, if thats what you're referring to

>>132333761
fuck me into crypto i go fuck this faggotry

>>132332536
>adding an expiry date to cash
so they can start with "food credits".
have you not seen any of the sci-fi dystopian art?

>>132334072
Buy gold and silver in a 1:20 ratio.

Seriously.

>>132334258


it total overlord tyranny. so if you wanna go off grid. you can't and they'll trace you if you have any money you took out of the bank.

This is Totalitarianism in it's most blatant form, so the government wants to control people having the choice to store their own hard earned cash? it's their own bloody money.


There are too numbskulls in this country that bow over and easily cowl down to government policies and decisions without having a strong hard think about the overall powers that they are taking away from you.


The next plan is a cashless society, which means your money is only a number on their server, You wont be able to have physical cash, meaning there will be total surveillance over every cent of your own money. where you spend it what you buy. They can take whatever they want, whenever they feel like it and you can't stop them. The banks will have total control over your life and what you buy.

This whole "black market" stuff is just an excuse for them to impose the above.


Ever noticed that the government can just withdrawl money out of your bank account without your permission? This is just a start.


Sounds like total power to me, democracy or totalitarian state?


Just have a think about that!

>>132335195
Australian banks have a serious attitude problem

>I want to withdraw blahblah dollarydoos thanks, I've made arrangements
>I'm sorry I can't let you do that without a good reason
>You fucking what m8? This isn't a fucking loan it's my own money.

What in the flying fuck? They handed it over this time but it's not a good sign.

>>132335761

im gonna withdrawl the lot.

everyone that predicted the 2008 GFC is predicting one at the end of this year, early next year.

>>132338222
those trips fuck it senpai im out of the banks kek has decided it

>>132333969
>News.com.au
Phasers set to 'fake news' it's all faggot shit. Sad.

Some literal faggot that 'reports' there made a news story about how much his 'daily toast' cost from some retarded metro fag store.

>>132333855
Fucking cunt

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>>132332536
>money worthless by adding an expiry date to cash.
>Why?


To increase consumer spending and incentivize people to invest their expiring money into assets like stocks instead of letting it sit idle.
It would not make money worthless.

It's actually a very good idea. Keeping some money sitting around does little or nothing for the economy. This forces people to convert it into more enterprising uses.
The only people who will suffer from this are stupid, low IQ people that would just let the money expire. In some ways, this would have a eugenic effect, by harming retards and propelling intelligent people to better allocate their money.
Stocks would be less volitile and the long-term value would increase.
Paranoid people could just buy precious metals with their temporary cash if they want to own a physical commodity that will remain a store of value ad infinitum.

The only thing that may suffer is interest rates (ie, they increase) given that bank reserves would likely fall; however, this is not completely a bad thing because higher interest rates in turn would exert an anti-inflationary effect, serving as a stabilizing agent.

/pol/ should be all for this.


N.B. This is all under the assumption that the expiration date remains totally fixed and is not played around with.

>>132340719
>Keeping some money sitting around does little or nothing for the economy.
people are keeping it under their mattresses because they don't trust the government to let them keep it.

labor already wants to halve the long term capital gains reduction, up taxes on the "rich" (aka anyone who works), and they've been going for workers for years. nobody trusts the government. fix that before you go "fixing" our monetary policy.

>>132332536

Just another reason I'm glad I don't live in Australia.

So if your money expires, will you get a refund on the hours of your life that you spent earning it?

>>132340719
>he only people who will suffer from this are stupid, low IQ people that would just let the money expire.
no this will discourage people saving money at all and will only lead to an explosion of low iq people that only spend constantly on worthless shit

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>>132332794
FPBP

>>132341917
Either those joggers are all retarded or the helmet lobby gave out some serious gifts to some politicians.

>>132341917
What's the fuck is this bullshit?
Log your fucking jog or get fined?

What the fuck is wrong with protestant nations?

>>132333330
Yeah I can see money becoming worthless and another currency or even barter taking place.

>>132340719
>He doesn't know that cash ALREADY has expiration date
It is calle inflation you retard

>>132341244
>people are keeping it under their mattresses because they don't trust the government to let them keep it.

They do that because they are stupid. If they didn't "trust the government", then by definition they shouldn't trust the fiat currency of said government.
Intelligent people that don't trust the government buy gold or other precious metals.

You do raise a good point though; democracy is poor system for expiring currency and the the fluctuating regime change will instill uncertainty in it, especially by opportunistic politicians trying to undermine it.

Ideally these conditions should be met prior to implementing expiring currency.

>Single party state with limited or no elections
>Very free market with efficient tax system (i.e. Hong-Kong-esque)
>Static, predictable supply of money in the monetary system
>Strong military and a government that will not be afraid to use it should international disputes arise over the value of said currency by state actors.

>>132341673
>no this will discourage people saving money at all
It would discourage cash savings in their shitty bank savings accounts, yes.

However, people would still be "saving" their money vis-à-vis investment in stocks, commodities, bonds, mutual funds, etc, that are superior to savings accounts in yielding a better return in the future.
This inherently is a more efficient use of their wealth than sitting idly doing nothing in a savings account.

Low IQ people spending their money is good for the economy; ie, it forces the money into the hands of people who would make better use of it, employment increases, etc.

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>>132341917
>log your jog online before leaving home
Not funny.

>>132343002
Doesn't take into a account the huge welfare state in Australia dumb seppo read up on time preferences

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>>132333999
Checked. Fucking pensioners thinking they can go and have private property. You don't own nothing, goyim! There is a tiny percentage engaged in crime, better punish everyone else for it

>>132340719
>N.B. This is all under the assumption that the expiration date remains totally fixed and is not played around with.
http://www.lietaer.com/2010/03/the-worgl-experiment/
This has been tried out before, with good results until the (((central bank))) shut them down.

>>132343002
You're just an asshole who is nowhere near as clever as you think you are. If and when the shit hits the fan your ones and zeros on some inaccessible network are worthless. You'll be sucking dicks for food.

Money will always have value since barter is extremely impractical.

>>132332536
It makes sense, it forces people to spend money therfore advancing the market

>>132332536
>$100, $50 notes should be tracked with nano-chips: Cash crackdown chief

>Hi-tech nano-chips would be implanted in Australia’s “disappearing” cash under a plan floated by Michael Andrew, the head of the federal government’s Black Economy Taskforce.

Speaking to The Courier-Mail, Mr Andrew said too much cash was being hoarded under pensioners’ beds and stockpiled as a trusted currency in China.

Estimates for the size of Australia’s so-called black economy vary from $23 billion to $50 billion. The government claims tax avoidance through cash payments costs the budget up to $10 billion in revenue, money that could go towards funding welfare and other services.

>http://www.news.com.au/finance/economy/australian-economy/cash-crackdown-boss-floats-nanochips-in-notes/news-story/05db2212948c7d02e822532de63c170d

What did they mean by this?

>>132333367
BUY MORE SHIT GOY

So what, you can't even save for a retirement?

>>132333658
>be a merchant, able to accept digi-statebucks
>end of the month approaches
>citizens dont want to lose 100% of unused digibucks
>sell product X to citizens at mark-up price.
>product X is small and wont spoil with time, and is not easily to create for average citizen
>next month rolls around
>allow citizens to cash in their "savings" by using product X to purchase normal goods at normal prices
>end of the month approaches, sell product X again at markup prices

The merchant simply doesn't report the cash-in purchases at the beginning of the month. The loss on his books is made up by increased sales of product-X at the end of the month. The merchant continues purchasing product-X from the government, but destroys the excess stock or uses it to leverage black market loans.

Eventually you get a thriving economy that functions on product-X. To stop this behavior, the state is required to expend large sums of money auditing the books of all merchants and physically inspecting wares. This is prohibitive so the state tends to fail in its indeavors. Furthermore, the economy is fucking borked so it is easier to bribe state auditors.

>>132332794
Most of us are okay, Amerifriend. It's just that we have a two party system with identical parties that hate the citizens and most people have been worn down to apathy in resisting them. We don't have a Trump to vote in.

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>>132341917
>couldnt take my helmet from the cuck shed cause Jamal needed to use my computer
>tried walking too fast and got 3 points on my footpath licence
>fired from my self paid internship for arriving late

back on the dole for me

>>132333969
>http://archive.is/P4xES
You're the joke shilling news sites
kys you 'journalist'

>>132343002
It wouldn't discourage bank savings at all, because bank savings are digital and this concerns nano-chippng physical fiat, you fucking retard.

>>132340719
>To increase consumer spending and incentivize people to invest their expiring money into assets like stocks instead of letting it sit idle.
Yes lets spend money on retarded stuff like stocks which are totally not what caused so many problems in the last 100 years.

>>132343772
How to hide or explain loss of normal inventory due to cash-in purchasing:
>claim as theft
>claim as damage
>claim as rot (perishables)
>just dont claim it (lazy/ineffective state auditing)
>bribe auditors
How to disguise the product-X markup from the state:
>require citizens to purchase two units, only give them one (citizens will gladly accept a 50% cut vs a 100% cut on their savings)
>if running a tight scam, pocket only the markup difference
>if running a loose scam, take the full price on a percentage of "sold" units
>again, bribery and state ineptitude helps
>leveraging a percentage of product-X stocks as loans allows for the seeding of an economy 100% outside of state control

>>132344552
But banks are arguably not trustworthy. The bank manager refusing to give me my own money was a huge wake-up call for me. And that was under completely normal conditions. How likely are the banks to let people withdraw their savings in adverse conditions?

historically when banks get in trouble they simply stop people making withdrawals and 2007 showed us that this sort of thing can happen overnight.

>>132344564
Wasn't there a Dutch brothel that got into trouble because it was 'paying' make staff with headjobs which was seen as income tax avoidance?

I'll find the link

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>>132342951
>discusses advanced economic theory
>implying I don't know what inflation fucking is

Incan imbecile, the topic of this thread was

>adding an expiry date to cash

Which is a different concept than inflation.
Inflation doesn't have a fixed date saying the currency will expire "right now". Inflation is fairly stable over the long-run in developed countries (or at least currently is but is unpredictable over the very long run.

Therefore, average people aren't even considering the impact inflation will have on their decisions.

A hard expiration date is a game changer and a completely different concept.

>>132343131
You raise a good point, in the current system of things, it would not work. I agree with you. Extremely good point actually. Society would need to truly be survival of the fittest with little to no safety networks in place for this to work well.

>>132343469
>Money will always have value since barter is extremely impractical.

In the modern era, the only thing backing the currency is the strength of the state and the people's faith in it (see pic related). If these fail, hyperinflation ensues and all that money under your mattress will become worthless. More worthless than a tangible good used for barter.


>If and when the shit hits the fan your ones and zeros on some inaccessible network are worthless.

Even the shitty incompetent nation-states of today can maintain some level of confidence in their fiat currency.
There is no reason a more efficient, stronger state, wouldn't be able to instill confidence in a currency with an expiration date.

If the state cannot maintain it, then let it fail; from a survival of the fittest perspective, that state or her people were weak to begin with.
Governments, states, peoples come and go and failure is nature's way of culling the heard.

>>132333836
>Not buying crypto currency, stupid gooks
Gooks are largest holders of crypto.

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probably becasue crypto currency has natural decay due to lost currency


as crypto expands governments are going top try all kinds of stupid shit to compete
(yeeee)

>>132344974

How much were you asking to take out? I take out cash regularly, up to 6K. I have to fill in a lot of paperwork but am allowed.

>>132332536
Then you just buy and store good which stil have value. Changes nothing

>>132343002
>. If they didn't "trust the government", then by definition they shouldn't trust the fiat currency of said government.
There are different levels of control and possible government abuse. Cash and bank accounts stand on the different tiers.

>>132345315
https://en.wikipedia.org/wiki/Executive_Order_6102

>>132332794
Wasn't Australia founded as a prison colony? When you have a population descended from prisoners partially mixed with literally non-humans, (abos, who are obviously some form of homo erectus and living fossils) that culture is in their genes and after several generations you get an entire population of retards who put expiration dates on currency, allow the most dangerous crocodiles to live amongst them, allow abbos to have human rights, and make a giant ugly rock into a tourist attraction

>>132345059
Wheelbarrow-of-cash hyperinflation isn't likely with australian banknotes. Where would wheelbarrows of cash even come from in the paypass era?

People will always need something to take the place of money and the best thing to take the place of money is... money!

If your only asset is your car and you need a weeks worth of food you're fucked aren't you? Barter can't handle all transactions.

>culling the heard
>heard

>>132341244
What the fuck are you gonna do about it gunless pussy? The end.

>>132345678

nada

>>132341917
Obviously this would have to be Victoria but this can't be real.... seriously when the fuck did this ever get mentioned on the news?

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>>132333761
From the OP I thought for a moment someone was actually going to try and implement Freigeld on a national scale before reading that.
>mfw

>>132343466
Very interesting.

>>132344552
>implying the value of currency contingent on its expiration date wouldn't be judged on that expiration date and banks wouldn't take that into account.

I didn't read the details of it but if what you say is true..... currency exchange between banks and the Australian treasury/government would be immune from the expiration date as they just turn in the old currency for fresh stuff?
This is not what I have been talking about but if this is the case, that does suck, that's a shitty tracking mechanism that wont even produce the desired outcome of increased spending/investment. Fuck.

>>132345295
20k. I made an appointment for it but when the time came the bank manager gave me this bullshit about how I need to give her a good reason!

Needing to fill out paperwork for 6k is complete bullshit too. 6k is pocket lint in a bank. The till at a post office or busy store can have that much in it but these banker slime seriously expect you to believe they can't get 6k together without paperwork and prior notice?

Fucking disgusting.jpg

>>132332536
so no one can accumulate wealth?? what about people who are "old money"
This is a fucking stupid idea

>>132332536
>want to save for a house
>savings never increases because you must spend it
>never get a house
not much different to today with our shitty house pricing, but still

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Australia BTFO the rest of the world with its laser-like focus on the crucial issues of our time:

>climate change even though Australia is the only carbon positive country on earth
>land rights for gay whales
>aborigine handout industry
>mass importing third world filth like mudsharks, islamofags and other nigger tier scum
>using soviet style anti free speech oppression
>taxing so government has more gibs to hand out to the underserving
>crippling energy exports
>letting power companies rape the public with gigantic billing

Feels bad man

>>132348320
Pauline could yet save australia with a debate training montage and the right people surrounding her. She's the real deal. hey sent her to prison for being a bad goyim but she came back for more.

>>132346915
>but these banker slime seriously expect you to believe they can't get 6k together without paperwork and prior notice?
they report you to the federal police, mate.

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>>132349000
Not trusting banks with your money is a federal offense now?

>>132349159
no, but taking $10,000 of drug money out of your bank account to pay someone from the FSB is. they do checks on you if you take out anything over a certain amount. i believe pulling that stunt when you're on a watchlist, or whenever you have custody of children, will earn you a free visit from the AFP.

>>132332536
To make you obedient. Cashless society is the beginning. Dark times.
Also
>>132333333

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>>132349000
Same here. Any transactions over $5000 cash need to be reported to Fintrac in case it's money laundering. Unless of course you're a Chinese guy with a literal suitcase full of cash, in which case you visit your friendly neighbourhood crooked lawyer who uses escrow accounts to launder it for you. What the fuck happened to the anglosphere m8s? How did it go so wrong?

>>132349318
Fuck I wish my bank account was full of drug money. Who are the fsb and why would I pay them?

>>132332536
something something nwo globalist shit. this place is filled with them. tis their testing grounds.

>>132333613
>Just one more step towards a cashless society,
only use cash to buy weed.
>why risk cash with all these niggers around?

>>132332536
How the fuck would something like that even work?

>>132350075
Currency would expires at a certain time so you would be forced to spend/invest it before it does.

Although, the official plan seems to suck and only applies to physical cash as a means to track it, meaning people could sit on it in the bank and feel no pressure to spend it, which is retarded.

>>132338799
and dubbs!
noice

>>132343772
>citizens dont want to lose 100% of unused digibucks
>sell product X to citizens at mark-up price.
>product X is small and wont spoil with time, and is not easily to create for average citizen

Just as an example there are online stores that do exactly this with Health Savings Accounts. I have coworkers with closets full of expensive bandaids and ibuprofen because they decided the 3X markup was better than losing the money outright.