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I know it's a faux pas to complain about downvotes but I did not intend to endorse this system. I simply stated it as inevitable, and it is. Australia has a lon
by sho 8y ago
I know it's a faux pas to complain about downvotes but I did not intend to endorse this system. I simply stated it as inevitable, and it is. Australia has a long history of implementing the "trial run" for G20 et al initiatives due to its combination of small size and being fairly well-organised.
Don't believe me? Go ask anyone in finance, especially AML. Of course it's inevitable. The end goal is the elimination of cash period.
And all this outrage is misplaced anyway. In advanced countries high denomination bills are tracked. It is the simplest thing in the world for an ATM to record the serials that pass through it. If you take out a large stack of 50s to buy a $20k (or hell, $5k) car "off the grid" then the system knows exactly how much you paid Joe's Discount Auto when Joe trundles his sack of bills down to the bank and it includes the bills you took out an hour ago. The idea that by you taking out of a bank, handing it to Joe, and him banking it somehow renders you invisible has not been true for at least a decade. If you try to avoid this you are - surprise - money laundering!
This is common knowledge and has even been used to nab bank robbers when they try to use the stolen bills. How do you think the bank knew which serials were taken and where they were spent?
Think I'm wrong? Go take out $10k of the highest domination you can, then drive all around town breaking them into smaller bills all in the same few days. Then go home and chill. Give it 2-3 days and you're gonna make some new friends.