Australian Politics Forum

Captain Nemo

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Stashing cash
Oct 16^th, 2020 at 1:00pm

What a great idea!

Today on ABC News Breakfast, the finance guru who comes on each Friday (James Kirby) came up with an explanation of where all the $100 bills are ...

Turns out that cash spending is way, way down due to COVID (and has been trending down over recent years anyway) ...

BUT ...

Issues of $100 bills have tripled recently. Shocked

So ... where is all that cash going? Huh

His idea:

Pensioners are stashing safety deposit boxes full with $100 bills in order to keep their asset figures off the books to retain the part pension!

Genius! Cool

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The 2025 election could be a shocker.

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Neferti Gold Member Offline Posts: 7965 Canberra Gender:	Re: Stashing cash Reply #1 - Oct 16^th, 2020 at 3:49pm I haven't seen a $100 bill since my dear old Mum used to get them from the Bank and leave a few under her phone book! ATMs only give out $50s, if you are lucky.
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cods

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Re: Stashing cash
Reply #2 - Oct 16^th, 2020 at 5:35pm

Pensioners are stashing safety deposit boxes full with $100 bills in order to keep their asset figures off the books to retain the part pension!

lol dont know anyone doing that.. this guy must know a lot of pensioners..... I dont like cash anymore I find if I have $50 in my purse its gone in a couple of hours...$100 dollar bill would go the same way...

I remember being paid in cash when I worked do not recall ever getting a $100 note even then..

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greggerypeccary Gold Member Offline Australian Politics Posts: 131477 Gender:	Re: Stashing cash Reply #3 - Oct 16^th, 2020 at 6:30pm He's right. I have dozens of them stashed away. I'm not a pensioner, but every time someone gives me a $100 bill I put it away in a drawer. I pull them out every now and then to buy guitars.
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John Smith Gold Member Offline Australian Politics Posts: 72209 Gender:	Re: Stashing cash Reply #4 - Oct 16^th, 2020 at 6:34pm Didn't someone on here once boast that his inlaws cupboards were full of cash that they had stashed there so that they could claim the pension?
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Jasin

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Re: Stashing cash
Reply #5 - Oct 17^th, 2020 at 8:01am

I thought heaps of people started stashing the $100 bills right from when they were first printed because they are easier to save than they are to spend... not everyone has the change (as you well know even with $50's).

Survey of thousands proved that people who use Cash spend less.
Those who did the digital survey of 'tap and go' spent way more.
....that's why they want to make Australia a 'cashless' society and the Corona Virus has given them the perfect 'excuse' to force it in.

You know it's cheaper to get mugged in an Alley way than it is to be hacked online.
Alleyway loss: $50
Online loss: $5,000 to $100,000
There is no full-proof online security. China hacked through Australia's security systems easily and that was the ones protecting ASIO. The hacking rate from China is over 140,000 a day!

Wake up you clowns. China can't get its hands (nor can the USA) if we still use 'Cash'.

If Australia goes fully digital - then Australian people really will become 'cashless'. I don't have much money. But I do own a lot of Slaves to do my work for me. Wink

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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.

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Carl D

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Re: Stashing cash
Reply #6 - Oct 17^th, 2020 at 8:32am

John Smith wrote on Oct 16^th, 2020 at 6:34pm:

Didn't someone on here once boast that his inlaws cupboards were full of cash that they had stashed there so that they could claim the pension?

Roll Eyes

Ah, yes. I remember that and I also remember who bragged about it but I won't say who it was.

The house was in Queensland and it sounded like every nook and cranny in the place was stuffed with "hidden cash" - about $100,000 if memory serves.

More power to them, I guess. And, I'm also guessing that they're just the 'tip of the iceberg', so to speak.

I read somewhere not long ago that the Reserve Bank has 'noticed' that a large number of 50 and 100 dollar bills haven't been in circulation for many years now and they surmised that the bills were hidden away under peoples' mattresses, etc.

Of that I have no doubt whatsoever which is probably another reason why the Federal government is trying to get everyone to go 'cashless' these days.

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"Masks are sand in the gears of the economy" - some f-wit pollie or big business CEO.

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Dnarever Gold Member Offline Australian Politics Posts: 57150 Here Gender:	Re: Stashing cash Reply #7 - Oct 17^th, 2020 at 8:54am There would be a point where inflation and or loss of interest and investment gains would overbalance any financial advantage. Likely not too large an amount either. I suspect there are much better methods.
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Redmond Neck Gold Member Offline OzPolitic Posts: 20696 ACT Gender:	Re: Stashing cash Reply #8 - Oct 17^th, 2020 at 9:05am John Smith wrote on Oct 16^th, 2020 at 6:34pm: Didn't someone on here once boast that his inlaws cupboards were full of cash that they had stashed there so that they could claim the pension? That was that Jewish Gmod Boer! Andrei Hicks?
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cods

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Re: Stashing cash
Reply #9 - Oct 17^th, 2020 at 10:55am

Carl D wrote on Oct 17^th, 2020 at 8:32am:

John Smith wrote on Oct 16^th, 2020 at 6:34pm:

Didn't someone on here once boast that his inlaws cupboards were full of cash that they had stashed there so that they could claim the pension?

when police raid these drug lords..or bikie gangs have you ever noticed the hordes of cash they find??????????... always 50s or 100 dollar bills.....hundreds of thousands if truth be told....

Roll Eyes

Ah, yes. I remember that and I also remember who bragged about it but I won't say who it was.

The house was in Queensland and it sounded like every nook and cranny in the place was stuffed with "hidden cash" - about $100,000 if memory serves.

More power to them, I guess. And, I'm also guessing that they're just the 'tip of the iceberg', so to speak.

I read somewhere not long ago that the Reserve Bank has 'noticed' that a large number of 50 and 100 dollar bills haven't been in circulation for many years now and they surmised that the bills were hidden away under peoples' mattresses, etc.

Of that I have no doubt whatsoever which is probably another reason why the Federal government is trying to get everyone to go 'cashless' these days.

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Sir Spot of Borg Gold Member Offline WE ARE BORG Posts: 26460 Australia	Re: Stashing cash Reply #10 - Oct 17^th, 2020 at 11:09am From 2017 https://smallcaps.com.au/australia-track-hundred-note-cashless-society/ I suspect they are already doing it - they are in UK Spot
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The_Barnacle

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Re: Stashing cash
Reply #11 - Oct 17^th, 2020 at 11:21am

Dnarever wrote on Oct 17^th, 2020 at 8:54am:

There would be a point where inflation and or loss of interest and investment gains would overbalance any financial advantage. Likely not too large an amount either. I suspect there are much better methods.

Inflation is very low at the moment so that wouldn't be an issue

I suspect there are people who like to be able to look at and feel their money. They don't trust electronic transactions and Banks.

I always keep a stash of cash in a safe place because if their is a failure or Bank systems, internet systems or power then we are effectively penniless.

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The Right Wing only believe in free speech when they agree with what is being said.

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Jasin Gold Member Offline Posts: 46481 Gender:	Re: Stashing cash Reply #12 - Oct 17^th, 2020 at 11:57am Andrei Hicks was cool. Reminded me of FD a bit. Can you imagine all the Beggars and Buskers on the streets having an Eftpos set up for your Cards? Yeah right.
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Jovial Monk

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Re: Stashing cash
Reply #13 - Oct 17^th, 2020 at 5:06pm

The_Barnacle wrote on Oct 17^th, 2020 at 11:21am:

Dnarever wrote on Oct 17^th, 2020 at 8:54am:

There would be a point where inflation and or loss of interest and investment gains would overbalance any financial advantage. Likely not too large an amount either. I suspect there are much better methods.

Inflation is very low at the moment so that wouldn't be an issue

I suspect there are people who like to be able to look at and feel their money. They don't trust electronic transactions and Banks.

I always keep a stash of cash in a safe place because if their is a failure or Bank systems, internet systems or power then we are effectively penniless.

If you fear losing your job, hide a stack of cash. Same approaching retirement age, buy some diamonds, first editions etc, don’t declare.

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Get the vaxx! 💉💉

If you don’t like abortions ignore them like you do school shootings.

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