War On Cash Intensifies: Citibank To Stop Accepting Cash At Some Branches

Less than a week after India’s surprise move to scrap its highest denomination cash notes, another front in the War on Cash has intensified down under in Australia.

Yesterday, banking giant UBS proposed that eliminating Australia’s $100 and $50 bills would be “good for the economy and good for the banks.”

(How convenient that a bank would propose something that’s good for banks!)

This isn’t the first time that the financial establishment has pushed for a cashless society in Australia (or anywhere else). Continue reading

Switzerland withdraws application to join EU

Following a vote in the lower house, the government will now tell the EU to “consider [the application] as withdrawn,” Swiss Foreign Minister Didier Burkhalter was quoted as saying by the Neue Zurcher Zeitung, POLITICO wrote. Continue reading

Money withdrawn from accounts belonging to MH370 passengers

The Mirror reports that accounts from four passengers were accessed from an ATM in Kuala Lumpur on July 18. A total of more than 111,000 Malaysian ringgit (AU$37,464) was withdrawn, bank authorities said.

Continue reading