Posted on 02/16/2016 8:05:03 PM PST by BenLurkin
The fact that - as Sands points out - in certain circles the 500 euro note is known as the "Bin Laden" confirms the arguments against it. Sands' extensive analysis is totally convincing on the linkage between high denomination notes and crime. He is surely right that illicit activities are facilitated when a million dollars weighs 2.2 pounds as with the 500 euro note rather than more than 50 pounds as would be the case if the $20 bill was the high denomination note. And he is equally correct in arguing that technology is obviating whatever need there may ever have been for high denomination notes in legal commerce.
What should happen next? I'd guess the idea of removing existing notes is a step too far. But a moratorium on printing new high denomination notes would make the world a better place. In terms of unilateral steps, the most important actor by far is the European Union. The EU500 is almost six times as valuable as the $100. Some actors in Europe, notably the European Commission, have shown sympathy for the idea and European Central Bank chief Mario Draghi has shown interest as well. If Europe moved, pressure could likely be brought on others, notably Switzerland.
(Excerpt) Read more at washingtonpost.com ...
Oh, please. $100 is already ridiculously small for a maximum donation.
What they really want is a cashless society, so you can’t even buy an old table on Craigslist without being taxed out the whazoo. Who are the real criminals?
No big deal. The bills are serialized and current tech would easily permit tracking of each bill.
.....er, denomination.
A million $ ain’t what it used to be in the 50’s.
Yup!
He is another elitist control-freak a-hole with fantasies of godhood.
Charlie Rangel is going to need a bigger freezer.
“Summers resigned as Harvard’s president in the wake of a no-confidence vote by Harvard faculty that resulted in large part from Summers’s conflict with Cornel West, financial conflict of interest questions regarding his relationship with Andrei Shleifer, and a 2005 speech in which he suggested that the under-representation of women in science and engineering could be due to a “different availability of aptitude at the high end”, and less to patterns of discrimination and socialization. After his departure from Harvard, Summers worked as a managing partner at the hedge fund D. E. Shaw & Co., and as a freelance speaker at other financial institutions, including Goldman Sachs, JPMorgan Chase, Citigroup, Merrill Lynch and Lehman Brothers. Summers rejoined public service during the Obama administration, serving as the Director of the White House United States National Economic Council for President Barack Obama from January 2009 until November 2010, where he emerged as a key economic decision-maker in the Obama administration’s response to the Great Recession.”
And not a lick of common sense, either.
Politicians would be happy to be getting $10,000 notes in envelopes....
This is such a fuching lie.
A vast amount of physical money in America exists in the $100 denomination, something like 80%.
They are lobbying this idea because the want to get rid of physical cash. Geting rid of the $100 bills wipes out 80% of physical cash in America,
It is something they are not highlighting because people don’t want to go to a cashless, totally monitored and controlled, digital cash society.
See the next step is negative interest rates, and if you wipe out physical cash, everyone will get screwed and pay to keep money in a bank. And every transaction wil be monitored, and the govt can shut off your access when they want.
Revalation 13: "And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead, and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is six hundred and sixty-six."
AUSTRIANS FIGHT CASHLESS SOCIETY
http://nextnewsnetwork.com/austrians-fight-cashless-society/
BLOOMBERG PUSHES FOR CASHLESS SOCIETY
http://nextnewsnetwork.com/bloomberg-pushes-for-cashless-society/
WORLD’S FIRST CASHLESS SOCIETY IS HERE
http://nextnewsnetwork.com/worlds-first-cashless-society-is-here/
CASHLESS SOCIETY: BANK OF IRELAND BANS ‘SMALL’ CASH WITHDRAWALS
https://www.youtube.com/watch?v=BONlud_e8PQ
BREAKING: Cashless Society ushered in by new VISA partnership
https://www.youtube.com/watch?v=QyRthl0N5RM
Proof positive links for never-thought-I’d-see-days we’re living in...
Thanks for researching and providing them!
RE: “AUSTRIANS FIGHT CASHLESS SOCIETY
http://nextnewsnetwork.com/austrians-fight-cashless-society/
BLOOMBERG PUSHES FOR CASHLESS SOCIETY
http://nextnewsnetwork.com/bloomberg-pushes-for-cashless-society/
WORLD’S FIRST CASHLESS SOCIETY IS HERE
http://nextnewsnetwork.com/worlds-first-cashless-society-is-here/
CASHLESS SOCIETY: BANK OF IRELAND BANS ‘SMALL’ CASH WITHDRAWALS
https://www.youtube.com/watch?v=BONlud_e8PQ
BREAKING: Cashless Society ushered in by new VISA partnership
https://www.youtube.com/watch?v=QyRthl0N5RM “
Eliminate ALL printed and digital money.
Tangible currency which cannot be manipulated by government is the only valid currency. It would also be nice to see Socialists like FDR, Lincoln, and Benjamin Franklin not constantly pimped out to impressionable Millenials.
I think Larry is getting a grant from Visa or MasterCard. There are lots of places where hundreds are used all the time. I often take out $400 from the ATM because I hate running out. It lasts me about a week. I would love to have the option to but $50’s or $100s in my wallet rather than twenty twenty dollar bills. I do get $100s in Vegas.
Let’s make the Lincoln Penny the highest denomination.
That will stop the drug trade.
The thing that kills me here is the fact that voter ID cards are so impossible for blacks and Hispanics. But there is no problem getting them to carry an ATM or Credit Card everywhere. Or a card for welfare. And of course Obamacare has its card.
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