Australian mainstream media outlet Channel Nine News reported that 100$ bills may soon contain “hi-tech nano chips” to track them. According to an article from Bitsonline titled “Australia Wants Chips in $100 Bills to Stop Crime, Hoarding by Elderly”:
“The move appears to be part of the “War on Cash“, an international effort by governments to discredit cash use. Focusing mainly on preventing organized crime and tax evasion, the campaign seeks to prepare the public for the elimination of large-denomination bills.
The Australian government announced in December it would “review” the $100 bill’s existence. Interestingly, the country’s central bank countered its claims, saying criminals actually prefer the $50.”
People had this to say about it:
The Nine report said older Australians were stockpiling cash to avoid reporting their assets. As if this were a terrible thing, the Australian government is closing in on the ability to monitor every aspect of people’s lives in their particular fashion. Their formula is, invading privacy to ensure compliance with a govt program that claims to be helping people or provide people with something. Cracking down on people to make sure they’re complying with the conditions for welfare.
100$ are almost never used in stores, or dispensed from ATM’s in Australia already.
The elderly are stockpiling cash to receive their full pension and retire or receive govt benefits. In the past the Australian government has made the use of 100$ extremely rare by claiming they needed to crack down on organized crime.
They really want to crack down on people having assets that the government doesn’t know every detail about.
They also claim $100 notes need chips in them because Chinese tourists were taking physical bills home after visiting the country, because they don’t trust their banks.
Make no mistake, there is a war on cash everywhere because governments don’t like not being able to track money.