Remember coupon bonds?
Posted on 02/16/2016 11:00:17 AM PST by TroutStalker
Harvard's Mossavar Rahmani Center for Business and Government, which I am privileged to direct, has just issued an important paper by senior fellow Peter Sands and a group of student collaborators. The paper makes a compelling case for stopping the issuance of high denomination notes like the 500 euro note and $100 bill or even withdrawing them from circulation.
I remember that when the euro was being designed in the late 1990s, I argued with my European G7 colleagues that skirmishing over seigniorage by issuing a 500 euro note was highly irresponsible and mostly would be a boon to corruption and crime. Since the crime and corruption in significant part would happen outside European borders, I suggested that, to paraphrase John Connally, it was their currency, but would be everyone's problem. And I made clear that in the context of an international agreement, the U.S. would consider policy regarding the $100 bill. But because the Germans were committed to having a high denomination note, the issue was never seriously debated in international forums.
(Excerpt) Read more at washingtonpost.com ...
Remember coupon bonds?
When first issued, the $100 bill had the buying power that $1000+ has today.
I’m occasionally ticked that we do not have $500 or even $1000 bills, which would make some cash transactions, like purchasing cars, far easier.
Once they get rid of paper money, they really have you by the short hairs.
no....its time to reintroduce the $500 and the $1000
They can have the penny, please.
Eventually it will be for all the cash so they can control everything. This is just the first shot in the elites attempt to gain total control.
Why stop the reintroduction there?
You forgot Barf Alert.
Again Establishment bull.
Yesterday I filled my truck with 21.5 gal for $25.50
Four or five years ago the pump would stop at $100
It's all about control.
Larry Summers wants negative interest rates. That way banks will give you less money back than you gave them. A rational individual can defeat this by simply taking his money out as physical cash, which would crash the banking system. Hence, the push by the ruling class for electronic currency, and now getting rid of the $100 bill. They want to close off all avenues of escape.
Once they remove all the cash we will find out what negative interest rates really mean.
I wish the USA had a $500 bill, $100 bill doesn’t last long now days.
Because, you know, only criminals want to do business in cash.
The $100 bill doesn’t cause crime. Also, most stores won’t accept them because they are often counterfeited. If they are eliminated, then the $50 will inherit the same problems.
There is no other way to charge you for having money.
The negative interest rate that they want to *impose cannot work well if you can withdraw and keep cash.
They can tax you for not buying something that you don’t want, and now they tax you for saving money.
Next it will be retirement plans and accounts.
I asked the bank for a $500.00 bill about 35 years ago.
I was cashing my first decent check and wanted it for a keepsake.
The lady looked at me like I was nuts. She politely stated they are not printed anymore.
Since she. Is $100 a lot of money? This is must another step toward the cashless society. I have had zero problem spending $100 bills.
But it does appear I have trouble texting on my new tablet. LOL!
Circulating bills larger than $100 were discontinued under Nixon. This was done to make large cash transactions harder.
They don’t grasp that it reveals their mindset (government is the source and arbiter of the value of all things) and methods (a cashless society is easier to control).
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