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A hundred reasons to keep the $100 note

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11.10.2019

Many of our fellow citizens are up to no good. I know this due to a radio discussion about the suggestion, made by some economists, that we abolish the $100 note. India, in the battle against corruption and tax evasion, has done something similar, but our listeners were against the idea.

Really against it.

It’s more “convenient”, I was told, to keep a lot of cash. It’s “far easier” not to use a bank. The conversation went something like this:

Me: “But you could just put the cash in the bank, and then take it out as you need it.”

Next: “But what if the banks go bankrupt?"

Me: “Well, they are government guaranteed.”

Next: “But the government could collapse, leading to anarchy in the streets.”

Me: “OK, but in that case what’s the point of the cash? You’d be better with three chickens, a gun and box full of cheap petrol-station spectacles.”

Come the apocalypse, all these callers would be trying to hand me their stacks of $100 notes, in return for a pair of my cunningly-purchased spectacles, and I’d shrug my shoulders with exaggerated indifference and suggest they come back with something useful such as a chook.Credit: Supplied

I threw in the spectacles because this is the sort of value-adding people now expect from a radio show. Once society collapses – or so I once read........

© Brisbane Times