Hi Cash Lovers,
RBA governor Michelle Bullocks says it's 'reasonably inevitable' that Australia will be cashless within ten years.
Luckily, the RBA's own data tells a different story. Cash usage in Australia is steady. The number of transactions is stable. The number of cashless transactions is booming, along with population growth so the percentages seem to be shrinking.
Brad Kelly from Independent Payments Forum describes what is going on in Australia:
"Looking at just ATM withdrawals, the primary form of cash access; there has been a change in trend over time ... since COVID, monthly withdrawal numbers have steadied ... so the likelihood of people just not getting cash out altogether is unlikely to stop, unless there is some kind of systemic change.
Of course, retail payments are growing at a rate of knots, so the share of cash use continues to fall even while the dollar value and withdrawal number is stable.
In 2024, there was an additional $764 million in cash ‘use’. At the same time, there was an additional $20.5 billion in credit card usage, and $42.7b in debit card use."
Michele Bullock needs to understand that cash is here to stay and there is no possibility of Australia becoming completely cashless, because the banks can't build a private, reliable, surcharge-free alternative payment system.
No cash means all our money is digital - and owned by financial institutions. A cashless Australia means:
You don't 'own' your deposits.
Your savings are a bank liability.
Your bank deposits are a debt owed to you.
NO CASH MEANS YOU HAVE NO MONEY.
Our Cash Welcome campaign provides a voice for all of us who trust and rely on cash.
I get donations from people and businesses to my gofundme account to help keep this backlash against their cashless agenda alive.
Or make a deposit at Commonwealth Bank
Cash Welcome
BSB 062-692
AC 4954 6502
Check out my:
Please share our petition calling for mandated cash acceptance by supermarkets and mandated cash access in all suburbs and towns:
https://www.change.org/BankingAndCashGuarantee
Yours sincerely,
Jason Bryce
jason@cashwelcome.org