Australian Politics Forum - It Is Time To Turn The Tables On The Banks

Aussie

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Re: It Is Time To Turn The Tables On The Banks
Reply #15 - Feb 12^th, 2023 at 12:18pm

MeisterEckhart wrote on Feb 12^th, 2023 at 12:10pm:

Aussie wrote on Feb 12^th, 2023 at 11:58am:

MeisterEckhart wrote on Feb 12^th, 2023 at 11:15am:

Sophia wrote on Feb 12^th, 2023 at 10:32am:

I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.

And thank god for that. Millions were being laundered through pokies.

How did that work?

Drop $100 into the machine.

Gamble $10 of it for a while.

Request a payout for the difference.

Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds.

Bloody hell. How slack is that!!!

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Jasin Gold Member Offline Posts: 47305 Gender:	Re: It Is Time To Turn The Tables On The Banks Reply #16 - Feb 12^th, 2023 at 1:06pm Sounds like all things 'American' are rearing it's ugly head in Australia. Looks like the 'American' influence here is going to take the money and run.
Back to top	AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY. IP Logged

AusGeoff

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Re: It Is Time To Turn The Tables On The Banks
Reply #17 - Feb 12^th, 2023 at 1:12pm

MeisterEckhart wrote on Feb 12^th, 2023 at 12:10pm:

Drop $100 into the machine.

Gamble $10 of it for a while.

Request a payout for the difference.

Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds.

Exactly. I read last week that pokies are one of the major ways
of laundering money through the pokies.

Except... instead of feeding $100 into its maws, the druggies are feeding
thousands into them. The example they gave was $5,000 for a $5 play!

The obvious question is why will the governments, of all colours, not legislate
to ban this? Why are the casinos effectively and knowingly condoning money
laundering? Well, I'd guess it's because of the massive gambling tax windfall
that finds its way into government coffers, and in return the lax oversight of
the government gambling authorities. A nice sweetheart deal?

• Government revenue from gambling in Australia for financial year 2019/2020
was $6.6 billion. What Federal treasurer wouldn't welcome that money jam?

• In 2017, Australia ranked first in a list of countries with the highest gambling
losses worldwide with losses of $1,386 per adult.

Angry

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Aussie

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Re: It Is Time To Turn The Tables On The Banks
Reply #18 - Feb 12^th, 2023 at 1:20pm

AusGeoff wrote on Feb 12^th, 2023 at 1:12pm:

MeisterEckhart wrote on Feb 12^th, 2023 at 12:10pm:

Drop $100 into the machine.

Gamble $10 of it for a while.

Request a payout for the difference.

Receive a receipt from the establishment that the $90 came from the machine - no differentiation between winnings and return of funds.

Exactly. I read last week that pokies are one of the major ways
of laundering money through the pokies.

Except... instead of feeding $100 into its maws, the druggies are feeding
thousands into them. The example they gave was $5,000 for a $5 play!

The obvious question is why will the governments, of all colours, not legislate
to ban this? Why are the casinos effectively and knowingly condoning money
laundering? Well, I'd guess it's because of the massive gambling tax windfall
that finds its way into government coffers, and in return the lax oversight of
the government gambling authorities. A nice sweetheart deal?

• Government revenue from gambling in Australia for financial year 2019/2020
was $6.6 billion. What Federal treasurer wouldn't welcome that money jam?

• In 2017, Australia ranked first in a list of countries with the highest gambling
losses worldwide with losses of $1,386 per adult.

Angry

Not even a money launderer would do that.

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AusGeoff

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Re: It Is Time To Turn The Tables On The Banks
Reply #19 - Feb 12^th, 2023 at 1:58pm

Aussie wrote on Feb 12^th, 2023 at 1:20pm:

AusGeoff wrote on Feb 12^th, 2023 at 1:12pm:

Exactly. I read last week that pokies are one of the major ways
of laundering money through the pokies.

Except... instead of feeding $100 into its maws, the druggies are feeding
thousands into them. The example they gave was $5,000 for a $5 play!

Not even a money launderer would do that.

Why not? A couple of posts back you'd never heard of it, but
now you're an expert on money laundering through the pokies?

Wink

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Aussie Gold Member Offline OzPolitic Posts: 38517 Gender:	Re: It Is Time To Turn The Tables On The Banks Reply #20 - Feb 12^th, 2023 at 2:34pm What sort of wanker would be happy to toss $5000.00 for just $5.00?
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Aussie

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Re: It Is Time To Turn The Tables On The Banks
Reply #21 - Feb 12^th, 2023 at 2:37pm

AusGeoff wrote on Feb 12^th, 2023 at 1:58pm:

Aussie wrote on Feb 12^th, 2023 at 1:20pm:

AusGeoff wrote on Feb 12^th, 2023 at 1:12pm:

Exactly. I read last week that pokies are one of the major ways
of laundering money through the pokies.

Except... instead of feeding $100 into its maws, the druggies are feeding
thousands into them. The example they gave was $5,000 for a $5 play!

Not even a money launderer would do that.

Why not? A couple of posts back you'd never heard of it, but
now you're an expert on money laundering through the pokies?

Wink

A laundromat would provide a better return, or an adult shop, or a tattoo joint, or barbershop. A brothel even.

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Sophia

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Re: It Is Time To Turn The Tables On The Banks
Reply #22 - Feb 12^th, 2023 at 2:48pm

Aussie wrote on Feb 12^th, 2023 at 2:34pm:

What sort of wanker would be happy to toss $5000.00 for just $5.00?

You misunderstood…
Someone can put in $5,000 into the poker machine…
It shows you have $5,000 credit… you play only $5… then press “pay out” or something…
You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you.
Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc

Our machines in my area show only up to $10,000 gamble at any time.
If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque.

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« Last Edit: Feb 12^th, 2023 at 2:59pm by Sophia »

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Sophia

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Re: It Is Time To Turn The Tables On The Banks
Reply #23 - Feb 13^th, 2023 at 3:04am

Up until nsw premier made that announcing of pokies becoming cashless… I had no idea why there was this notice on our pokie machines about maximum bet being $10,000!

But what I think is ridiculous…. The reform won’t happen until 31 Dec 2028!
That’s like 6 years away!
Why so late? If they want to stomp out crime/drug money etc?

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John Smith

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Re: It Is Time To Turn The Tables On The Banks
Reply #24 - Feb 13^th, 2023 at 5:06am

Sophia wrote on Feb 12^th, 2023 at 10:32am:

MeisterEckhart wrote on Feb 12^th, 2023 at 10:10am:

Belgarion wrote on Feb 12^th, 2023 at 10:03am:

Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads. Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.

The depersonalisation of service via electronic banking has largely contributed to this.

However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name.
It’s all changed now… so matter of fact and no warmth.

First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers.
Now that’s done… next is to force us away totally… to digitised money/no cash.
It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you.
So it looks like I’m hardly touching money anyway.
I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.
I like how our local pizza offer free can of drink if we pay cash.

Don't forget they're already starting to phase out cheques. Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts. The oldies that rely on cheques in more rural settings will be snuffed. They don't know how to use electronic, banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Sophia

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Re: It Is Time To Turn The Tables On The Banks
Reply #25 - Feb 13^th, 2023 at 8:53am

John Smith wrote on Feb 13^th, 2023 at 5:06am:

Sophia wrote on Feb 12^th, 2023 at 10:32am:

MeisterEckhart wrote on Feb 12^th, 2023 at 10:10am:

Belgarion wrote on Feb 12^th, 2023 at 10:03am:

Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads. Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.

The depersonalisation of service via electronic banking has largely contributed to this.

However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name.
It’s all changed now… so matter of fact and no warmth.

First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers.
Now that’s done… next is to force us away totally… to digitised money/no cash.
It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you.
So it looks like I’m hardly touching money anyway.
I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.
I like how our local pizza offer free can of drink if we pay cash.

Don't forget they're already starting to phase out cheques. Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts. The oldies that rely on cheques in more rural settings will be snuffed. They don't know how to use electronic, banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

What Malcolm Frazer warned us about.
Probably money safer under a mattress than being scammed online as is rife at present with billions being scammed per annum in Australia alone!
I get 2-3 stupid scam texts per day! I block then delete.
But alas cash will be obsolete too. Exactly when I don’t know.
Trouble is with cash in home… as was the case in my area I live in which is farming… a lot of market gardeners come home after the days taking at Vic Market only to be robbed on Highway in their trucks (hence they carried a gun) and as the case with a few we know around here… farm house invaded, people tied up and then threatened/demanded to know where money is with floor boards ripped up.
These property owners have cut down all bush/trees so no one is obscured hiding/waiting, with high electric fences and cameras all around.
So in recent times I had thought it was safer not to carry much cash on us so we don’t get mugged.
Only to be replaced by internet/online scammers.

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« Last Edit: Feb 13^th, 2023 at 9:03am by Sophia »

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Gnads

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Re: It Is Time To Turn The Tables On The Banks
Reply #26 - Feb 13^th, 2023 at 9:25am

freediver wrote on Feb 12^th, 2023 at 9:39am:

Why don't the unions provide the service WK? There are plenty of financial institutions run by unions these days. That would make more sense than crying about a private company not being a charity.

To be fair, the union bosses would probably prefer to pocket the money than lose it on providing services to regional areas.

Since when has providing banking services ever been a charity?

It has nothing to with Unions - & Industry based superannuation funds are not banks.

Yet banks run superannuation schemes.

Do they do that for love?

Just more of you double standards.

The Commonwealth Bank was "the peoples" bank... sold off by Politicians from Union backgrounds i.e. Bob Hawke & Paul Keating.

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Gnads

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Re: It Is Time To Turn The Tables On The Banks
Reply #27 - Feb 13^th, 2023 at 9:32am

Sophia wrote on Feb 12^th, 2023 at 2:48pm:

Aussie wrote on Feb 12^th, 2023 at 2:34pm:

What sort of wanker would be happy to toss $5000.00 for just $5.00?

You misunderstood…
Someone can put in $5,000 into the poker machine…
It shows you have $5,000 credit… you play only $5… then press “pay out” or something…
You get a ticket for $4,995 from the machine (the venue staff come to machine to write ticket out and you sign it) and then get a cheque from the counter with proof of ID etc and cheque made out to you.
Hence $4,995 black money became clean money to spend without question “where did you get money from to spend” if there’s no income or any show in bank withdrawal etc

Our machines in my area show only up to $10,000 gamble at any time.
If a machine shows credit under $2,000 then we get paid cash… but any credit over $2,000 then gets paid by cheque.

You'd think someone like Aussie with his legalese would know that? Grin

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Gnads

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Re: It Is Time To Turn The Tables On The Banks
Reply #28 - Feb 13^th, 2023 at 9:37am

John Smith wrote on Feb 13^th, 2023 at 5:06am:

Sophia wrote on Feb 12^th, 2023 at 10:32am:

MeisterEckhart wrote on Feb 12^th, 2023 at 10:10am:

Belgarion wrote on Feb 12^th, 2023 at 10:03am:

Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads. Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.

The depersonalisation of service via electronic banking has largely contributed to this.

However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name.
It’s all changed now… so matter of fact and no warmth.

First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers.
Now that’s done… next is to force us away totally… to digitised money/no cash.
It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you.
So it looks like I’m hardly touching money anyway.
I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.
I like how our local pizza offer free can of drink if we pay cash.

Don't forget they're already starting to phase out cheques. Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts. The oldies that rely on cheques in more rural settings will be snuffed. They don't know how to use electronic, banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

Thus making the elderly more vunerable to home invasion & assault by criminals.

Yes the clubs I belong to are being advised now by Westpac & the ANZ that they will be doing away with their chequing accounts & not issuing any more cheque books.

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Sophia

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Re: It Is Time To Turn The Tables On The Banks
Reply #29 - Feb 13^th, 2023 at 10:14am

Gnads wrote on Feb 13^th, 2023 at 9:37am:

John Smith wrote on Feb 13^th, 2023 at 5:06am:

Sophia wrote on Feb 12^th, 2023 at 10:32am:

MeisterEckhart wrote on Feb 12^th, 2023 at 10:10am:

Belgarion wrote on Feb 12^th, 2023 at 10:03am:

Time was when the local bank was a pillar of the community where the manager and staff knew the local people and understood their needs, tailoring services to suit and not letting people get in over their heads. Now banking has become an impersonal money generating machine with no thought given to the individual beyond how much money can be screwed out of them for 'services' they don't need and may even be detrimental to their finances.

The depersonalisation of service via electronic banking has largely contributed to this.

However, who would deny that online banking is exponentially more convenient than back in the day when you had to walk into your bank to withdraw cash to pay bills?

That’s about as far as electronic transactions and credit cards should go … everything else was good the way it was as Belgarian wrote… how good it was to walk into a bank and be greeted by staff and bank manager that knew your name.
It’s all changed now… so matter of fact and no warmth.

First they forced customers to do less in bank transactions towards internet or atm transactions, by reducing tellers.
Now that’s done… next is to force us away totally… to digitised money/no cash.
It’s very much like that now… our bills come out with direct debit… work payments goes into the bank account. People can do funds transfer online when they buy something off you.
So it looks like I’m hardly touching money anyway.
I see the crimes squad or whatever they’re called, in NSW are going to eventually eliminate cash in pokies.
I like how our local pizza offer free can of drink if we pay cash.

Don't forget they're already starting to phase out cheques. Com bank announced last month that it wasn't going to issue any more cheques or cheque accounts. The oldies that rely on cheques in more rural settings will be snuffed. They don't know how to use electronic, banks are closing and now they can't use cheques. They'll end up storing their cash under the mattress because they've no other options

Thus making the elderly more vunerable to home invasion & assault by criminals.

Yes the clubs I belong to are being advised now by Westpac & the ANZ that they will be doing away with their chequing accounts & not issuing any more cheque books.

Our ANZ bank haven’t told me about cheque books becoming obsolete yet!
I might go in next time I need to do banking and ask.

And yes the crims follow wherever the money is… from cash under mattress to pick pocket/grab handbag and run, to online scamming.
Pokie venues won’t allow more than $2000 win cash payout and they also restrict how much money is withdrawn from their teller machine… $200 per transaction only up to $500 limit per day total.
So if you want $500 you need to do 3 withdrawals.

I’m just wondering how the pokies will be cashless in future?
Do we just swipe our credit/debit card?
Or do we get one of their cards and load it with our money to use.

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