Currency is liquidity alright - but at what cost?
We have all heard how Canberra wants cash gone...
https://www.abc.net.au/news/2022-10-19/more-bank-branches-atm-close-nationally-apra-2022/101550794
Here's the currency supply (M0)...
The AUD has already lost 99% of its value against gold...
Core Consumer Prices are still ripping upwards...
I don't know about Ozzie, but when the big "C" was on a few years ago - there were so many outlets here in NZ that flatly refused to accept cash. Given the above, it wouldn't surprise me if Ozzie didn't just outlaw it full stop.
I agree totally with your sentiment, but the currency I will be holding is a little bit heavier than paper.
