General > General Technical Chat
Cashless Australia
EEVblog:
--- Quote from: Halcyon on March 13, 2021, 11:17:14 am ---The other consideration is, if you're facing bankruptcy, one should take a good long look at themselves. The individual is almost always to blame, not someone else. Its a tough lesson to learn, but not one that doesn't have light at the end of the tunnel. Bankrupt does not equal homeless, nor does it equal unable to live. In fact, personal insolvency rates in Australia fell by over 23% in 2019-2020 across all states and territories. It's as low as it has been since around 1999-2000. Once the stats come out for this current financial year, I reckon we'd be looking at instances not seen since the early to mid 1990's.
https://www.afsa.gov.au/sites/default/files/annual_personal_insolvency_summary.xlsx
--- End quote ---
Wasn't there a moritorium on insolvency here? That would have duped a lot of people in trouble into a false sense of security for a while instead of fixing whatveer underlying financial problem they had.
Yes, it won't be pretty this time around.
Then we have the mortgage eviction and foreclosure moratorium that ends in Sepetember. I would not be buying a house in Australia until some time after that date, you might suddenly find a lot fo stock on the market.
cdev:
Yes, not long ago I read a very good book, it was an account of hyperinflation in Austria during the 20s and 30s..
It must have made people nuts.
Actually, real inflation is very bad now based on many products people buy. Read this article by a German economist. I find his blog really interesting. There is a lot on this cashless issue there.
https://norberthaering.de/en/economics/cost-of-thriving/
--- Quote from: GodIsRealUnless DefinedInt on March 16, 2021, 10:47:55 pm ---Instant devaluation/worthlessness/hyper inflation has already happened during the war years in our past history and in countries today like Venezuela, its a very real thing when you are faced with it vs armchair discussions.
--- End quote ---
It happened in India quite recently, read this article on it.
A well-kept open secret: Washington is behind India’s brutal Experiment of abolishing most cash
bdunham7:
--- Quote from: cdev on March 16, 2021, 11:22:01 pm ---It happened in India quite recently, read this article on it.
--- End quote ---
I try to avoid controversial topics like this but the conspiracy theories regarding Indian demonetization and secret US interests, which seem to involve the well-worn tropes of Bill Gates, the Ford Foundation, etc etc are utter rubbish. Stop it. Your source is an idiot and hasn't a clue about Indian politics. Demonetization, which was simply the withdrawal of the Rs. 500 and 1000 notes with the requirement that they be deposited in a short limited time, was a mess for many reasons, but did not and was not intended to eliminate cash from the economic system. There is still cash.
GodIsRealUnless DefinedInt:
India made my newsfeed today as they are also seem to be going to ban doing anything with any cryptocurrencies.
cdev:
--- Quote from: bdunham7 on March 16, 2021, 11:32:44 pm ---
--- Quote from: cdev on March 16, 2021, 11:22:01 pm ---It happened in India quite recently, read this article on it.
--- End quote ---
I try to avoid controversial topics like this but the conspiracy theories regarding Indian demonetization and secret US interests, which seem to involve the well-worn tropes of Bill Gates, the Ford Foundation, etc etc are utter rubbish. Stop it. Your source is an idiot and hasn't a clue about Indian politics. Demonetization, which was simply the withdrawal of the Rs. 500 and 1000 notes with the requirement that they be deposited in a short limited time, was a mess for many reasons, but did not and was not intended to eliminate cash from the economic system. There is still cash.
--- End quote ---
Yes, it still exists.
A great many Indians don't have bank accounts or even computers, they are poor. (Many cant even read or write thei own name, because of deep poverty has meant that many could not afford school. , but no worries, now with the cashless digital ID system AArdhaar, hey can sign a contract to sign their rights away by blinking. No public education necessary. The middle class are often quite clueless about everything having to do with the poor. And so they often make the biggest most destructive mistakes, imaginable. They are not always intentional. But sometimes they are.
A previous US Administration generously traded market access away leaving dozens of service sectors under a cloud. Overnight, they could be globalized like computer services have been.
India and the US for a long time, seem to be trading favors that they both seem to be trying to hide. The US wants cheap high skill labor, and India wants the good jobs. The US also wants IP-maximalism beyond our wildest dreams. The huge job trade enabled by US sectoral commitments in the WTO includes engineering services. Another thing the US wants from India is extending patent terms on lifesaving drugs and the elimination of generic AIDS drugs that have saved at least 30 million lives, (see the prize winning film "Fire in the Blood" by Dylan Mohan Grey.) Indian evergreening of drug patents, Australia's pharmacy benefits plan likely is struggling with this IP-maximalism ideology too. If its to be found, its likely on bilaterals.org. Imagine having diabetes and having to pay hundreds, perhaps a thousand dollars a month for insulin to keep yourself alive. When the basic technology to make it was given by its inventor to the world for one dollar. , he wanted it to be non-profit. But the Big Pharma took care of that.. your money or your life, my friend.. This is the world we live in. Also check out the ip-health mailing list at KEIonline.org for more on the access to medicines issue.
So the claims by Catalyst's Malick, (he claims Haering misquoted him) dont seem well founded.
Also your claim that Haering is not credible seem to be refuted by Haerings position in the world of economics. He has always seemed quite credible to me. Highly subjective, yes. But I have a right to my opinion.;
I feel strongly about these issues because we are supposed to live in a democracy, which means that the peoples votes matter. All these things that these insanely rich people are trying to do are tantamount to takings from all of us. The least powerful of us. I don't want to get rid of digital payments, I just think they are trying to do much more than just that., things that will make society a harder more unfair one to poor people. Look at it this way, they snuck this deal to steal democracy behind our backs (at least here in the US) can they be trusted when they did that?
So, Norbert Haering's report seems to me toboth be quite consistant with what I know and see, i.e. have a sound basis in fact. Certainly, a lot of what Bill Gates and the WEF and other related self styled global economic governance organizations have been doing is not in the public interest as they would have us believe. Nor is it the product of a democratic consensus. Nothing could be less democratic. The highly undemocratic nature of their agenda is what bothers me. The things they are doing seems to be saying, that democracy - now that people are more aware of the behind the scenes interests trying to manipulate us and the outcomes they seek, has to stop. Thats not fair. Nor is it democratic. Democracy is what gives governments their legitimacy. Not the divine right of kings . Might doesn't make right. Then or now.
Corporations are not people either, and do not deserve human rights.
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