Dear Cash Lovers,
This week Professor Richard Holden from the University of NSW was in the media promoting his three year plan for a cashless Australia.
Professor Holden says "only criminals and old people" still use cash and has previously predicted Australia would be cashless by 2022.
The Holden plan is for the government to announce that in 12 months $100 notes will no longer be legal tender. The government will then announce $50 notes will be withdrawn in the second year and the remaining notes and coins withdrawn from circulation by the end of year three.
'We could transition fully away from cash," said Richard Holden, "I think it could be done in about three years or so - you'd probably start by eliminating the $100 bill and the $50 bill in a year and you work your way through."
But Reserve Bank figures show a record $104.4 billion worth of banknotes are in circulation with $245 million worth of cash issued last week. In June, ATM cash withdrawals in Australia were worth $9.2billion.
70 per cent of Australians carry cash and there is no evidence that Australians want a completely cashless Australia.
But there is a powerful push now to limit cash and limit the cash mandate being planned by the Albanese government.
Please share our petition calling for a bank and cash guarantee:
https://www.change.org/BankingAndCashGuarantee
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 please make a deposit at Commonwealth Bank
Cash Welcome
BSB 062-692
AC 4954 6502
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Yours sincerely,
Jason Bryce
jason@cashwelcome.org