Don't remind me about $250 gold. I actually worked in some gold mines in the eighties and nineties when AU$400 an Oz was the price to make some mines financially viable.
My ancient aunty around 60 at the time used to talk about gold being real money and that I should buy some. I remember...
Interesting, I'll put in some details. I don't think they should be able to lock accounts without referring them to a serious financial regulator and also have a penalty for unjustified locking. Of course there is zero chance of oversight that works for average citizens.
I think this is connected. A few weeks ago I had a message on my online banking to update my details.
The message stated that this was a requirement for the governments KYC rules.
I have had this account for 25 years. Most of the questions (other than name and address) were marketing questions...
I'd love to know the actual amount their profits increased when they stopped cash. I'm sure they could generate those numbers.
I doubt it was much, if it reduced staff numbers then maybe but I can't see how it would change sales income.
I'm sure the reduced 'float' in a cash register could...
I was at a shop today that had talk back radio playing. The discussion about cash requirements and how it was an expense for business that they couldn't afford.
It's all confected as you can always get things done with the resources you have if you really want to. I doubt there is any...
I remember I bought an ounce of Au $(AUD)1200 and so was a kilo of Ag, I should find my receipt. I had a bit of buyers remorse about the silver for a while.
That was about 30:1 ratio. Gold has tripled since then but silver is pretty much flat.
I'm optimistic about both metals now.
I saw an article or YouTube yesterday about supermarkets limiting the amount that can be withdrawn in cash each day. I think it had senator Rennick saying that banks, not supermarkets and post offices, had a social obligation to provide cash.
Anyway what struck me is that banks and big...
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