Support Building to Abolish NZ$100 Note

“Gold Ready to Rise by $59 Per Oz

On December 27, 2016, NIA predicted with gold at $1,132 per oz that it was about to make an explosive short-term rally of $78 per oz to $1,210 per oz. Over the following 13 trading days, gold soared by $87 per oz to a high on January 17th of $1,219 per oz!

Since January 17th, gold has dipped to $1,188.40 per oz but gold’s fundamentals have continued to rapidly strengthen – with the forward 5-year price inflation rate rising 13 basis points to a new multi-year high of 1.96%! Meanwhile, the forward 24-month Fed Funds Rate has only risen by 4 basis points to 1.58% – a sign that the Fed is continuing to fall dangerously behind on inflation, a best case scenario for gold! Click here to see for yourself!

The difference between the forward 5-year price inflation rate minus the forward 24-month Fed Funds Rate has increased since January 17th by 9 basis points to 38 basis points – causing gold’s short-term fundamental fair value to rise to $1,248 per oz!

NIA’s exclusive one-of-a-kind gold undervalued/overvalued ratio is back in the undervalued zone – with gold now due to rise by $59 per oz in the days ahead! Click here to see NIA’s brand new exclusive gold charts!”

“Cash is still the most efficient way to launder money. It is less traceable than Bitcoin, much more widely accepted than precious stones, and less volatile than property.

…Countries will need to work together to reduce the money laundering threat of cash. With an increasingly global economy, cash can easily be transferred to a different currency or carried over borders. It’s such a hot topic that presidential candidate Bernie Sanders is calling for the US to join Canada and Singapore in abolishing larger value notes. The 500 euro, 100 US dollar and 50 pound notes are tipped to go next; could the 100 NZD note follow suit?
 
Compared to most other developed nations, New Zealand has the ability to be an almost cashless financial system.  Eftpos and credit cards are accepted almost universally, with Smartphone-supported payment apps rising in popularity. Despite this, there is more cash in circulation than ever before: the Reserve Bank reports there is as much as $5 billion in circulation.  Offering electronic alternatives to cash has clearly not decreased the perceived necessity of cash. Perhaps getting rid of the $100 note will?

While there would inevitably be some downsides to doing away with cash, the advantages to combatting money laundering in New Zealand outweigh them. So what is stopping the New Zealand government from getting rid of the $100 note? It’s up to the policy makers to make the next move.”

Source.

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“Rogoff, like most of his colleagues, contends that large bills like the $100 or 500 euro note are only used in “drug trade, extortion, bribes, human trafficking. . .”

In fact they jokingly refer to the 500-euro note as the “Bin Laden” since it’s apparently only used by terrorists.

Give me a break.

My team and I did some of research on this and found some rather interesting data.

It turns out that countries with higher denominations of cash actually have much lower crime rates, including rates of organized crime.

The research was simple; we looked at the World Economic Forum’s competitive rankings that assesses countries’ levels of organized crime, as well as the direct business costs of dealing with crime and violence.

Switzerland, with its 1,000 Swiss franc note (roughly $1,000 USD) has among the lowest levels of organized crime in the world according to the WEF.

Ditto for Singapore, which has a 1,000 Singapore dollar note (about $700 USD).

Japan’s highest denomination of currency is 10,000 yen, worth $88 today. Yet Japan also has extremely low crime rates.

Same for the United Arab Emirates, whose highest denomination is the 1,000 dirham ($272).

If you examine countries with very low denominations of cash, the opposite holds true: crime rates, and in particular organized crime rates, are extremely high.

Consider Venezuela, Nigeria, Brazil, South Africa, etc. Organized crime is prevalent. Yet each of these has a currency whose maximum denomination is less than $30.

The same trend holds true when looking at corruption and tax evasion.

Yesterday we wrote to you about Georgia, a small country on the Black Sea whose flat tax prompted tax compliance (and tax revenue) to soar.

It’s considered one of the most efficient places to do business with very low levels of corruption.

And yet the highest denomination note in Georgia is the 500 lari bill, worth about $200. That’s a lot of money in a country where the average wage is a few hundred dollars per month.

Compare that to Malaysia or Uzbekistan, two countries where corruption abounds.

Malaysia’s top cash note is 50 ringgit, worth about $11. And Uzbekistan’s 5,000 som is worth a paltry $1.57.

Bottom line, the political and financial establishments want you to willingly get on board with the idea of abolishing, or at least reducing, cash.

And they’re pumping out all sorts of propaganda to do it, trying to get people to equate crime and corruption with high denominations of cash.

Simply put, the data doesn’t support their assertion. It’s just another hoax that will give them more power at the expense of your privacy and freedom.”

Source.

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