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Cinnamon

War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches

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 Cinnamon    28,918

Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.

Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”

(How convenient that a bank would propose something that’s good for banks!)

This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else).

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http://www.zerohedge.com/news/2016-11-16/war-cash-intensifies-citibank-stop-accepting-cash-some-branches

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 Goat    40

JFC, never been a huge fan of cash,  but I'm waking up.   A cashless society will not EVER work the way it should because of how f'ing trivial it is to hack accounts nowadays due to the fact that the majority of companies and their "risk management" eraserheads have calculated that the cost of handling data breaches is cheaper than actually paying for a decent information security team. "Let them hack us,  it's cheaper to clean it up and offer BS credit monitoring" meanwhile average Joe citizen gets royally bent over for the rest of his life and has to spend hours/days/months on the phone trying to restore his credibility and/or recover his money. 

Right now we have this BS push for all of our credit and debit cards to be fitted with the security chip.   The same chip that was already hacked months ago,  and all it's doing is holding up the lines at the store.  

And the Android pay/Apple pay BS?  Insecure by design,  just have the user open a salacious email or text,  install Malware and you have full access to all the apps and data on their phone.  Sure Iphones are technically more secure at this point but NOT invulnerable. 

Not to mention if you lose your phone/get it stolen and you have said passwords saved/auto login,  not only have you lost your phones,  you've lost your bank accounts!!!  Good on ya!

Take your chip and app and shove them where Niburu doesn't shine. 

 

*Cap'n takes a sip and counts dem dolla dolla bills. 

 

 

 

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