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New Generation Bank Notes
Rank: Member Joined: 9/25/2008 Posts: 510
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HE. PORK launches new generation bank notes at Madaraka Day celebration. The fight against corruption gets new impetus, Old 1000 will become obsolete, corruption billions in safes and bunkers will trigger inflation as they enter the system.....or else..... I AM trust in GOD, I AM belief in THYSELF
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Rank: Member Joined: 9/30/2013 Posts: 659
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T-Bag wrote:HE. PORK launches new generation bank notes at Madaraka Day celebration. The fight against corruption gets new impetus, Old 1000 will become obsolete, corruption billions in safes and bunkers will trigger inflation as they enter the system.....or else..... October 1 2019 is the deadline. Those who have stashed illegally acquired 1000s notes in warehouses or homes are looking for get-rid-quick schemes. If you stay ready, no need to get ready.
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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T-Bag wrote:HE. PORK launches new generation bank notes at Madaraka Day celebration. The fight against corruption gets new impetus, Old 1000 will become obsolete, corruption billions in safes and bunkers will trigger inflation as they enter the system.....or else..... Interesting perspective you got there....anyway, on a more lighter note, i can see that the 100 note is no longer a "red". The 50 bob is the new red. The green and the blue make a comeback as 200 and 500b. The 1000 bob is still a brown. All over sudden the sheng vocabulary for money changes Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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How fast will okia omutata go to court because all the notes have kenyatta or a likeness of him which is unconstitutional, the notes look nice, funny I have not seen the coins yet. To Each His Own
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Rank: Member Joined: 5/27/2016 Posts: 274 Location: Pub
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Pedes wrote:T-Bag wrote:HE. PORK launches new generation bank notes at Madaraka Day celebration. The fight against corruption gets new impetus, Old 1000 will become obsolete, corruption billions in safes and bunkers will trigger inflation as they enter the system.....or else..... October 1 2019 is the deadline. Those who have stashed illegally acquired 1000s notes in warehouses or homes are looking for get-rid-quick schemes. This will affect a very small group of people. Clearly (10M -100M) stashes can be rinsed up before 4 months are over. This may affect guys with over 0.5 billion. How many are they? Very few, the likes of past governors. I expect 1.Guys will rush to forex exchanges so forex will be hotcake in the next few days. Mattress banking will switch to dollar banking. Millions will be cleaned up easily in forex. It is likely to affect dollar buying rates in coming months 2. Convert to 500s and get a new lease of life, more timelines still legal tender 3. Land as an asset is likely to benefit from this and probably houses which have had a terrible run this year. 4. Banks deposits (trickledown effect of conversion) more deposits, more loans for mama mboga, slow rate of small banks acquisitions because of deposits All in all very little effect on mattress war lords. Meanwhile the business that will likely be affected most is 1. Money printing/wash wash this guys will need new equipments for the latest currency with more security features and expensive to print. 2. Politicians who rely heavily on money printing for campaign stashes I work so I can afford the amount of alcohol required to continue going to work
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Rank: Elder Joined: 7/22/2008 Posts: 2,702
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Someone will be in court on Monday and because wakora judges are some of the biggest hoarders of cash bribes this move is likely to be quashed.
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Rank: Elder Joined: 7/22/2008 Posts: 2,702
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Rank: Elder Joined: 7/22/2008 Posts: 2,702
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I suspect the initial confusion will start with matatus, mama mbogas and kiosks refusing to accept the 1,000 Ksh. note then there will be huge queues at banks because banks will require people to fill out forms stating the source of funds.......
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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T-Bag wrote:HE. PORK launches new generation bank notes at Madaraka Day celebration. The fight against corruption gets new impetus, Old 1000 will become obsolete, corruption billions in safes and bunkers will trigger inflation as they enter the system.....or else..... Are we talking of the same Kenya? We're the hub of corruption, I'm sure these people already know how to launder this billions. Let's wait and see if even one person will be arrested.
BBI will solve it :)
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Rank: Veteran Joined: 11/9/2009 Posts: 2,003
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I've some prime plots in Nvs. For anyone interested, kindly drop me a mail
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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Kusadikika wrote:Someone will be in court on Monday and because wakora judges are some of the biggest hoarders of cash bribes this move is likely to be quashed. Yep, they're making it easy for the judges. Kenyatta's KICC sculpture is on all the new notes
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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constitution of Kenya wrote:4) Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual Guess portrait excludes sculpture images! But I'm sure someone will rush and remind the courts about the spirit of the law
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Rank: Elder Joined: 6/20/2008 Posts: 6,275 Location: Kenya
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We talked about this in 2016, when Uncle Sam instructed India to try it out and see. India was the guinea pig in this. And for sure paper money is going away... soon you won't need to carry money around. Digital money is coming...
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Rank: Elder Joined: 6/20/2008 Posts: 6,275 Location: Kenya
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Kusadikika wrote:I suspect the initial confusion will start with matatus, mama mbogas and kiosks refusing to accept the 1,000 Ksh. note then there will be huge queues at banks because banks will require people to fill out forms stating the source of funds....... You are right... See what happened in India...
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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radio wrote:I've some prime plots in Nvs. For anyone interested, kindly drop me a mail I think the idea is for vendors to refuse to take cash and only accept bank transfers due to existing counterfeits. I would not accept cash. But I see many of these criminals using mpesa and purchasing construction materials in bulk to launder their loot.
BBI will solve it :)
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Rank: Elder Joined: 10/4/2006 Posts: 13,821 Location: Nairobi
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2012 wrote:radio wrote:I've some prime plots in Nvs. For anyone interested, kindly drop me a mail I think the idea is for vendors to refuse to take cash and only accept bank transfers due to existing counterfeits. I would not accept cash. But I see many of these criminals using mpesa and purchasing construction materials in bulk to launder their loot. When will ATMs start dispensing pieces of this ugly paper? All Mushrooms are edible! Some Mushroom are only edible ONCE!
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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Kusadikika wrote:I suspect the initial confusion will start with matatus, mama mbogas and kiosks refusing to accept the 1,000 Ksh. note then there will be huge queues at banks because banks will require people to fill out forms stating the source of funds....... That probably means that I could fill the form as a retailer and buy each 1000 at a discount? Say 900?
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Rank: Elder Joined: 7/1/2011 Posts: 8,804 Location: Nairobi
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AlphDoti wrote:We talked about this in 2016, when Uncle Sam instructed India to try it out and see. India was the guinea pig in this. And for sure paper money is going away... soon you won't need to carry money around. Digital money is coming... Digital money is going to increase in usage but it won't replace hard cash, and for obvious reasons. Digital systems are not just vulnerable but also tend to be monopolized by non state actors that can't guarantee freedoms...
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Rank: Elder Joined: 2/8/2013 Posts: 4,068 Location: At Large.
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2012 wrote:radio wrote:I've some prime plots in Nvs. For anyone interested, kindly drop me a mail I think the idea is for vendors to refuse to take cash and only accept bank transfers due to existing counterfeits. I would not accept cash. But I see many of these criminals using mpesa and purchasing construction materials in bulk to launder their loot. Mpesa has daily limits.Cannot launder lots of cash through this method. Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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Bigchick wrote:2012 wrote:radio wrote:I've some prime plots in Nvs. For anyone interested, kindly drop me a mail I think the idea is for vendors to refuse to take cash and only accept bank transfers due to existing counterfeits. I would not accept cash. But I see many of these criminals using mpesa and purchasing construction materials in bulk to launder their loot. Mpesa has daily limits.Cannot launder lots of cash through this method. If had a billion or two to lauder I would be looking for a high cash business to 'invest' in, like a super market chain. But I think what Uhuru should have done is give a four week amnesty. Bring the money from under the matress, no questions asked, as long as you pay tax on it. It doesn't stop the DCI from using the information to go after suspected drug money cleaning etc. Meanwhile that KRA collection target problem? Solved. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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