Posted on 02/21/2016 5:44:46 AM PST by SeekAndFind
Banning the Benjamin would strip Americans of a layer of privacy and a currency of convenience. It's being advanced as a war measure to make it harder for terrorists to carry cash. But it's a smokescreen for the fact that the Democrats are out of ideas on both the economy and national security.
The putsch against the Benjamin is being sprung by Lawrence Summers. He was President Bill Clinton's treasury secretary and also a president of Harvard. He came within a whisker of being chairman of the Federal Reserve under President Obama.
Mr. Summers wrote up his idea in the Washington Post, touting a proposal from a think tank he directs. It wants the Europeans to stop issuing new 500-euro notes and America its hundreds -- and maybe even withdraw such notes already in circulation.
This, Mr. Summers suggests, is justified because these denominations -- and Portraits of Grant (meaning 50s) -- are being used by criminals and terrorists. In "certain circles," Mr. Summers says, the 500-euro marker is known as the "bin Laden."
That strikes me as an unconvincing argument, particularly from the Democrats. They have withdrawn from nigh every front in the war on Islamic terror. They don't want to name our enemies or even call our struggle a war.
Meantime, they're downsizing our army. Secretary of State Kerry is preparing to surrender in Syria, and the Russians and Communist Chinese are on the march. The best the Democrats can come up with is taking away Americans' favorite form of cash.
(Excerpt) Read more at nysun.com ...
Carpet bomb their camps with Sacajaweas and Susan B Anthonys
Keep the $100.
Bring back the half dollar coin.
I’m just one of those crazy Christian fundamentalists, but the global push, all at the same time, to go to a cashless society, is scaring me. Thank God I believe that pre-trib is correct.
“The second beast was given power to give breath to the image of the first beast, so that the image could speak and cause all who refused to worship the image to be killed. It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads. so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.” (Revelations 13: 15-17)
Did it go away? I seem to get one at least once a week.
I think they should dump the dollar bill, replaced with a coin. I also think they should dump the twenty for a 25.
Herd those assets into accounts where they can be accessed with 'the chip', be it in a card, a phone, your hand, your forehead, and you can be charged transaction and service 'fees' which will effectively amount to negative interest rates.
In a time when the $500 bill should be making a comeback, and the $100 is the new twenty, making people carry a wad of smaller bills if they want cash will make them easier to target for robbery, be that done under color of law or just ordinary thieves.
Criminals are also using toilets. Should those be banned too?
It makes no sense. Seems like the idea came out of nowhere and has been heavy in this week’s news cycle. And his argument is terrorism? I think they’d be concentrating on something like bitcoin rather than the USD...just my .02
A gold coin works for me. What say the rest of you? :)
Beautiful!!
A have a few stuck away...
This idea is just a result of more typical LIB asshat neural misfiring. LIBs are mentally ill (aka: insane).
Exactly. And what makes it notable is that it’s being pushed at the same time as the push for people to get chipped-some places and programs are enforcing it, such as Mexico for welfare recipients and some employers for their employees, as a security measure. One that I read about, a Canadian company, required it, but they allowed Christians and others who didn’t want to be chipped, to use some special card instead, at their own ( the employees) great expense.
I like that one. :)
Let’s make it gold for the $100!
The stupid part of this is that This would be like banning the $10 Bill in the early 70s.
I.e. the $100 is really not worth all that much. Their reason is a lie.
If we kept paper and coin cutoff at about the same level as in during WWII we’d have all coins to $10 and start with paler bills at $20.
There goes the drug gang vote!
“A gold coin works for me. What say the rest of you? :)’
Would the price of gold coin be set, say a $20 gold piece, or would you have to work out the exchange rate based on the actual price of gold at the time you used it to buy something?
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