Finance & Fury Podcast

Welcome to Finance and Fury In today's episode, I thought it was important to cover Currency Bill - Might have seen in the news – headlines about the $10k transaction – Currency (Restrictions on the Use of Cash) Bill 2019 – what we are talking about – had first round through Parliament Goes deeper - Talked about this topic last year in October – Cashless Society episode – link to episode Policy is trying to control behaviour – by making the undesirable activity illegal – regardless of validity or effect Gov wants all money accounted for – which is far easier when it is electronic rather than cash based – A lot to unpack in this – you might have seen this reported on in the news – give a quick recap on the bill – Then go through why these extreme measures are needed to help get out ‘black market’ economy under control – outrageously high when compared to 0% of GDP, at around 2%-3% of GDP - being satirical (later) Quick overview of the bill – Now - people could be jailed for two years and fined $25,20