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Thread: Wheres all the $100 Notes gone!

  1. #1
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    Wheres all the $100 Notes gone!

    Some news story the other day mentioned that $100 notes were seldom seen these days and yet there are more in circulation than $20 notes!


    Seems they prefer to be under the mattress than in peoples wallets according to this news article....Hmmmmm
    --------------------------------------
    ELDERLY Australians committing welfare fraud on a massive scale are behind the extraordinarily high number of $100 notes in circulation, a former senior Reserve Bank official says.
    Yesterday the Herald revealed there are now 10 $100 notes in circulation for each Australian, far more than the more commonly seen $20 notes.
    One popular explanation is that they are used for illegal transactions as part of the cash economy, something the former Reserve official, Peter Mair, rejects as a "furphy".
    In a letter to the Reserve Bank governor, Glenn Stevens, dated July 4, Mr Mair laid the blame squarely on elderly people wanting to get the pension and hiding their income in cash to ensure they qualified for the means-tested benefit.


    The grey economy: how retirees rort the pension

  2. #2
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    Plenty of hoards about. Not just the elderly hiding assets to get the pension. Have a look at the pension assets limits. You can be rich and still get a part pension. If you get $1 of pension then you get all the fringe benefits. Many hoarders are dodging the ATO, not Centrelink. The GST created a whole new black cash economy.

    Some ethnic groups have a cultural thing about having a stash of cash or gold. Their home countries were often racked by wars, revolutions, invasions, coups, bandit governments, bank failures, and so on. It was necessary to hide your dough. A Greek-Australian I went to school with reckons every time a rich Greek dies there is much gossip in their community about the size of his hoard. I queried that every rich Greek would have a hoard. Mike replied that of course they do, they are Greek and all Greeks have a bit put away safe from interference.
    URSUSMAJOR

  3. #3
    kenleyfred Guest
    They come in 100's ?

    Geez, I need a better job

  4. #4
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    I collect them because my dad was a spitting image of General Monash.


  5. #5
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    Last one I saw was a Mawson commonly known as a Balaclava Killer!

  6. #6
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    Quote Originally Posted by Brian Hjelm View Post
    Plenty of hoards about. Not just the elderly hiding assets to get the pension. Have a look at the pension assets limits. You can be rich and still get a part pension. If you get $1 of pension then you get all the fringe benefits. Many hoarders are dodging the ATO, not Centrelink. The GST created a whole new black cash economy.

    Some ethnic groups have a cultural thing about having a stash of cash or gold. Their home countries were often racked by wars, revolutions, invasions, coups, bandit governments, bank failures, and so on. It was necessary to hide your dough. A Greek-Australian I went to school with reckons every time a rich Greek dies there is much gossip in their community about the size of his hoard. I queried that every rich Greek would have a hoard. Mike replied that of course they do, they are Greek and all Greeks have a bit put away safe from interference.
    They're all under Ho's bed Brian.
    If you don't like trucks, stop buying stuff.
    http://www.aulro.com/afvb/signaturepics/sigpic20865_1.gif

  7. #7
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    I WISH

  8. #8
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    Note of choice for drug deals.
    Cops regularly find millions in Sydney .
    When I saw the article blaming pensioners I fell over laughing.
    Regards Philip A

  9. #9
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    Quote Originally Posted by V8Ian View Post
    They're all under Ho's bed Brian.
    Ian, I didn't want to mention that. Might draw the crabs on the old chap. Isn't he the only person in Australia who knows how many 100's fit in a 44 gallon drum?
    URSUSMAJOR

  10. #10
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