Australia plan to ban cash purchases over $10,000 looks like it may soon become law

Discussion in 'Australia, NZ, Pacific' started by kazenatsu, Mar 1, 2020.

  1. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Last edited: Jul 18, 2020
  2. scarlet witch

    scarlet witch Well-Known Member Past Donor

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  3. m2catter

    m2catter Well-Known Member

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    Please explain, sw, isn't it all fiction?
    Not really looked into it, I have to admit,
    reg. Cats
     
  4. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    I'll refer you to the experts M2, the interview of the decade to watch imo is "Open Letter to Ray Dalio". The main reason WHY "Bitcoin" is because there will be, in the near future a reserve currency reset. Over thousands of years in history we always went back to gold when this happens, but now we have Bitcoin, the interview walks you through the reasons why Bitcoin is so valuable and most likely asset to take over from the US$.

    Robert Breedlove says, "once you see it, you can't unsee it" and that is where I am right now.



    You can also watch this interview with Preston Pysh, (especially from 40 minutes on) he is a traditional value investor in Warren Buffet style and have now moved over to Bitcoin, I think he's 100% invested in Bitcoin. Round 50 minutes he explains it using monopoly money as an example and it really helps to sink in how the Central Bankers just keep inflating asset prices while increasing inequality.
     
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  5. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Here's what I think they are going to do... this is purely personal observation...

    I think they are counting on everyone to invest in gold... because that is what people always do when a currency devalue. they are going to confiscate the gold (like Roosevelt did in 1933) at a set price but payment will be in the form of a digital currency... the new digital currency is suppose to be the new reserve currency. You'd say what's wrong with that but Roosevelt floated gold not long after at a much higher price... basically they are stealing your profits, because it's best for the country right... except that didn't matter when they printed the currency into oblivion and they were enriching themselves by bloating asset prices while people struggle to feed themselves.

    Bitcoin is a threat to the control central bankers have on the money supply, i understand it is a threat to the US$ & their monopoly on the world but honestly, do they deserve it after the abuse they inflicted on millions of people while enriching themselves. No, humanity deserve to be free from loan sharks & central bankers.
     
  6. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    If you read what I stated in post #17, the Australian government has already done that in its history. Gold was practically illegal to own (or at least heavily restricted) from 1929 to 1976.
     
    Last edited: Jul 19, 2020
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  7. m2catter

    m2catter Well-Known Member

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    Last edited: Jul 21, 2020
  8. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    ..... you called M2?
     
  9. m2catter

    m2catter Well-Known Member

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    Sorry sw,
    I had problems with my pc, couldn't reply earlier. I watched the video you linked, very interesting.
    Lots to think about....
    Stay healthy,
    Cats
     
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  10. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Bitcoin is more risky than gold and silver, so if you're not comfortable with Bitcoin, both the gold and silver prices are going up fast
     
  11. m2catter

    m2catter Well-Known Member

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    Heard the many Europeans reckon that their Euro won't survive, and with our yesterdays budget announcement you wonder whether our A$ will survive.
    Now the Libs blame all on Corona of course, but I bet more than half of our debt is due to their incompetence.
    And you think that gold and silver are the most trusted? It is like in the darker times of human history, isn't it?
    Reg.
     
  12. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    M2 I recommend you watch Mike Maloney's "Hidden secrets of Money" series we've been in this exact same scenario many times before in human history, the process repeats itself & when currency is devalued people rush back into gold in silver.
    This time is different (there's also a book with the same title) the difference is Bitcoin.

    Bitcoin is scarcer than gold and the harder you try to mine it the more difficult it gets. The characteristics for money/the reason why everyone always default back to gold is because it is scarce, it is divisible, it is transportable and durable, but Bitcoin is even more scarce, more divisible, more transportable and have proven to be durable. There is also no human in the loop which makes it a first ever in our history. (As you may or may not be aware the Federal Reserve central banking system is a corrupt pyramid scheme, they provide free money to the top then tax (charge interest rates) gradually more and more to the bottom where some people pay up to 40% or more interest.) Bezos made billions in one day recently and it is 100% because he benefits at the top of the pyramid, he knows it too, there's no effort in the money you make at the top of the pyramid they simply suck productivity out of the rest of us. I can go on and on but you really need to make this journey of discovery and realisation on your own.

     
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  13. m2catter

    m2catter Well-Known Member

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    Thanks for that, sw, now I have to build a safe to store a tonne.....
    Haha, enjoy your weekend,
    Cats
     
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  14. Monash

    Monash Well-Known Member

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    Or it could simply be the Government simply wants to crack down on tax avoidance by high wealth individuals and organized crime, who every year avoid billions in unpaid tax that would support government funded hospitals, schools and other public services those same individuals are perfectly happy to make use of. No grand conspiracies, no-one with a vested interest in promoting bit coin, just the tax man 'come a-knocking' like he has at everyone's door since civilization began. Or this that explanation to simple to be plausible.
     
  15. m2catter

    m2catter Well-Known Member

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    Sorry mate,
    I don't buy it.
    If the government is acting in the interest of the nation, they would have employed a tax avoidance law/regulation a long time ago.
    I think it is all about to secure their own ass, and to dish up another fairy tale....
    Cats
     
  16. JakeJ

    JakeJ Well-Known Member Past Donor

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    Via having only electronic currency not only can the government track anything a person does, but can totally 100% wipe out anyone they want to - literally starve them to death. A person would have to agree to ANYTHING just so they and their family doesn't die within days.
     
  17. JakeJ

    JakeJ Well-Known Member Past Donor

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    If you sell something for over $10K and take a check or a credit card the purchaser can file a chargeback with the bank or credit card company and you end up with $0. We do online sales and usually banks and credit card companies back up their own customers - meaning they get to both keep whatever they got and get all their money back. That type of legal theft goes on continuously.
     
  18. JakeJ

    JakeJ Well-Known Member Past Donor

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    The tax man won't have to come knocking. The tax man can just surprise seize every "dollar" you have and then you and your family starve to death. You literally would have no way for you or your family to survive. It also means a hacker can steal every "dollar" you have too. Literally you would not have 1 penny.
     
  19. Monash

    Monash Well-Known Member

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    Tax reform is the least popular item on any governments agenda because its a no-win situation (most of the time). At the first hint of reform vested interests will always protest, launch media blitzes and lobby intensively (read threaten or promise support come next election) on behalf of the status quo. We haven't had significant reform since the 90s for exactly this reason. Look what happened the last time the sacred cow of negative gearing was threatened.

    As far as the proposal to outlaw cash deposits over 10K? Look long and hard at who wants it stopped in the business community. And organized crime they desperately need large amounts of cash to continue operating - junkies dont tend to have good credit records.

    You said it yourself its called 'theft'. Can your money be stolen via electronic fund transfer? Yes. But the value of these thefts are a tiny, tiny proportion of the tens of millions of electronic fund transfers conducted daily. And provided the purchaser uses a credit card and has used legitimate purchasing sites there are mechanisms in place to obtain refunds. That said the banks won't refund for 'stupid' which is what a lot of the on-line thefts involve. As for walking around carrying large volumes of cash in your pocket - that also comes under the heading of 'stupid' and if you lose it whose going to give you a refund then?

    Name one occasion where the average person needed to get their hands on 10K in cash that didn't involve tax avoidance or which couldn't have been handled quickly and safely via bank transfer.
     
    Last edited: Jul 25, 2020
  20. billy the kid

    billy the kid Well-Known Member

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    Would your argument be so intense if the Government reduced the limit to $2K..which they can do under the Regulations without a parliamentary sitting.
    Have you read Joe Hockeys "bail in" legislation....
    Are you aware of the extent of the public objection against this money grabbing bill....
    You sound like a government shill....
     
  21. Monash

    Monash Well-Known Member

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    No, yes and yes - although needing even 2 K in the hand would be a rare event. Can't remember the last time I had to do it. You however just sound reactionary and paranoid, in other words pretty much your normal self.
     
  22. billy the kid

    billy the kid Well-Known Member

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    You didn't answer the last question...I think Id prefer to be the way I am rather than
    a naïve, brainwashed government shill....
     
  23. Monash

    Monash Well-Known Member

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    Careful Billy, the governments coming for you, although in your case their agents will be cunningly disguised as mental health professionals.
     
  24. m2catter

    m2catter Well-Known Member

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    This comment scared the **** out of me.
    Bitcoin bye bye, not that I own bitcoins........
    So sw is right, at the end it is either silver or gold....
    Regards
     
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