The Agenda for a Cashless Society Surged Forward in 2016By Vin Armani The Australian cashless propaganda piece was titled $100 note to be scrapped? Australia to crack down on cash paymentsand states, Australia looks set to follow in the footsteps of Venezuela and India by abolishing the countrys highest-denomination banknote in a bid to crack down on the black economy. Speaking to ABC radio on Wednesday, Revenue and Financial Services Minister Kelly ODwyer flagged a review of the $100 note and cash payments over certain limits as the government looks to recoup billions in unpaid tax. Mondays midyear budget update will include the appointment of former KPMG global chairman Michael Andrew to oversee a black economy taskforce. The black economy accounts for 1.5 per cent of GDP, given many cash payments are untaxed. Gizmodo recently wrote a article titled Indias Prime Minister Plans for Cashless Society: Narendra Modi, Prime Minister of India, has an economic firestorm on his hands following his decision to ban the 500 and 1,000 rupee notes. In his monthly address on Sunday, Modi took his ambitions further with a call for a cashless society. According to a translation by Reuters, Modi said, I want to tell my small merchant brothers and sisters, this is the chance for you to enter the digital world. The ban has removed 80 percent of the countrys currency from circulation and brought commerce to a virtual standstill. But rather than backing up, it appears that Modi is doubling down. We can gradually move from a less-cash society to a cashless society, he told listeners. And the EU already axed the 500 euro note after a successful propaganda campaign that labeled the note the bin Ladin to make seem like a dirty weapon for terrorists. Fortune wrote The End of the 500 Euro Note Could Lead to a Cashless Economy: After months of heavy deliberation, the European Central Bank decided in April to phase out the 500 banknote in an effort to curb terror financing and other illegal activities. The bank announced plans to end production of the 500 noteworth $574by the end of 2018, though bills in circulation will be taken as legal tender. The note, also dubbed the Bin Laden, is rarely used by the general public. About 60% of Europeans say theyve never seen onebut has been used to evade taxes, in terrorist operations, and other illegal activities. The cashless society is also coming to the United States with former Treasury Secretary Larry Summers recommending killing the $100 bill in The Washington Post: What should happen next? Id guess the idea of removing existing notes is a step too far. But a moratorium on printing new high denomination notes would make the world a better place. Watch the full broadcast here Vin Armani is the host of The Vin Armani Show on selfnews Post, TV Star of Gigolos on Showtime, Author, DJ, and Agorist Entrepreneur. Follow Vin on Twitter and subscribe on YouTube. Get the weekly podcast oniTunes or Stitcher. Im guessing here, if they ban the 100 bill, there will a surge in the sales of PMs. On the other hand, It (the proposal) comes after a report by UBS recommended Australia scrap the $100 note. According to UBS, benefits may include reduced crime (difficult to monetise), increased tax revenue (fewer cash transactions) and reduced welfare fraud (claiming welfare while earning or hoarding cash). From the banks perspective there would likely be a spike in deposits if all the $100 notes were deposited into banks (ignoring hoarded $50 notes), household deposits would rise around four per cent, the report said. This would likely fill the banks Net Stable Funding Ratio (NSFR) gap and reduce reliance on offshore funding. Increased tax revenue by making black market transactions more difficult would reduce current taxation (or improve education/healthcare/safety net levels). The losers: tax cheats. Gullible Kneejerk trolling.you are gullible for thinking there are not good reasons to ban the currency of choice for criminals and tax cheats. Perhaps you are one. Why else would you be trolling? Yes, I work for the Govt, make 120,000 a year and pay no Taxes. Thats what Govt does but theyll get a pass. Increased tax revenue by making black market transactions more difficult would reduce current taxation (or improve education/healthcare/safety net levels). Ive started a petition to keep cash alive on we are change .org to send to Malcolm Turnbull By the end of 2017, most of the US of A will be cashless This is a movement thats been in the making since September 1987, when the 4th World Wilderness Congress was held in Denver, Colorado, USA, which established the World Conservation Bank. Approximately 1500 of the worlds most powerful bankers and leaders attended the congress, which was chaired by Rothschild agent and Canadian multi billionaire, Maurice Strong. At the congress, Edmond de Rothschild designated eminent financier I. Michael Sweatman to be the first president of the World Conservation Bank. After an orchestrated period of global financial chaos triggered by a major war in the Middle East or man-made state of emergency or natural disaster, in which most of the worlds banks will be deliberately collapsed in the process, (wiping everybodys savings out in the crash), key City of London banking parent creditors, are going to take over all the mort-gages (death-bonds) and assets of the world, and transfer them to the World Conservation Bank. The plan is very esoteric and cunning, and very difficult for most to understand. Already most government treasury departments are preparing for such an event. As part of the preparation for this momentous event, all of the worlds individual currencies are to be merged into two or three major currency groups, two of which are the euro and US dollar. Finally, these currencies are to be replaced with the World Conservation Banks new electronic global currency, the Earth Dollar. This new currency is deceptively to be issued against the collateral of 34 percent of the Earths surface that is presently being transferred into huge UN Heritage Parks and Conservation areas in every country across the globe, under the crafty deception Sustainable Development. In short, the biggest banking conspiracy and deception ever to face mankind! More reasons to END the unFED, which was given to the unholy goat worshipers 12/21/1913. Government can choose to cut taxes or increase social programs, education, healthcare, infrastructure, etc, all of which increase productivity and more than pay for themselves by increasing economic activity and providing jobs, all of which increases revenue. A recent example of tax cuts was when Obama, after stimulating the economy out of recession and job losses (thus increasing revenue) cut taxes on income and had 2 yrs of payroll tax holidays, leading to an average savings for a typical family of about $5000. What did you do with your savings? Probably paid down debt. The problem is when Presidents (Reagan, Bush II, now Trump) will cut taxes and while spending like a drunken sailor (Reagan tripled the debt; Bush II doubled the debt under his 8 budgets) , thus creating huge deficits and necessitating either cutting back on programs which increase productivity or raising taxes (as Bush I and Reagan did). Bush did not raise taxes but left us with the largest deficits in our history, while losing government revenue by being the first President ever to lose private sector jobs over 8 years, despite 23 million new Americans. The Trump plan is the same as Bush: massive tax cuts (hundreds of millions to the very rich, $200 to the average family, deregulation, and massive borrowing/spending (military/infrastructure). To expect any different results than the economic collapse this program caused for Bush is insanity. Trump will cut taxes (mostly on the rich), deregulate (allowing banks to gamble on the public dime), and borrow massively. This is a recipe for collapse, as the CBO has pointed out, leading to 10 trillion in new debt. And if he creates tariffs on Mexican goods, he will bankrupt American companies and lose hundreds of thousands of jobs, as the US exports 200 billion a year to Mexico, which will slap a tariff on US products bringing about failure. Instead of paying the tariff, Mexicans will buy elsewhere, leaving American workers wondering where their jobs went. 