Posted on 03/05/2016 12:44:49 PM PST by marktwain
When I graduated high school, in 1969, a $20 bill had about as much value as a $100 bill today. Inflation has taken a toll. In 1969, $500 and $1,000 bills were still in reasonably common circulation. They had been issued up until 1945. With the turn toward ever increasing government snooping and tracking of financial transactions, the bills were taken out of circulation with an executive order by President Richard Nixon.
It is long past due to bring the $500 bill back into common use. The European Union issues 500 Euro bills. Cash is useful for preserving privacy and transportation of value to those who wish to avoid the electronic trail that follows digital transactions everywhere. All it took to remove the bills from circulation was a simple executive order.
That is all it would take to bring them back.
But more should be done. The insane tracking of every one's financial transactions should be scaled back. The forfeiture laws that allow legal theft of property need to be revised or repealed. Stealing cash amounts under $50,000 does nothing to hinder the drug trade or terrorists. But it harms a lot of innocent people who want to pay cash for a car, who do not trust the banks, or who consider Cypress when thinking about contingencies.
The reforms could look like this. Raise the reporting amount for banks to $50,000 from the effective $5,000 that it is today. Raise the amount to be declared when travelling overseas to $50,000. If repeal of the forfeiture laws proves too high a goal, reform them to make forfeiture of anything of less value than $50,000 a crime.
It doesn't matter if a President Trump or a President Cruz accomplishes this much needed reform. It will be a highly visible signal to the people that the government no longer views them as a threat, and a refreshing return of some small measure of liberty.
Of course, a new run of $500 bills would be needed at some point. May I suggest that they have the picture of President Ronald Reagan on them?
The issue of $500 bills is a small but powerfully symbolic action that appears to be within a President's executive power.
©2016 by Dean Weingarten: Permission to share is granted when this notice and link are included.
Link to Gun Watch
An excellent plan that would greatly reduce the use of credit cards at Whole Foods and Starbucks.
The EU did that. Lead to inflation.
Sorry to be the bearer of bad news but I have read reports that they want to remove the 500 euro note and also the $100 bill. Lets hope Trump gets elected to stop crazy stuff like this.
Issue $200,000 bills to make it easy to pay Hillary for her speeches.
May I suggest that they have the picture of President Ronald Reagan on them?
You may!
Very good point that too few are discussing - the elimination of large bills ($100 bill is the latest bright idea), then small, then going digital - spells T Y R A N N Y
It is the amount issued, not the note denomination, that leads to inflation.
What the U.S. has done in the last 8 years should be leading to massive inflation, but we have not seen it.
Lots of people are scratching their heads over that one.
I’m sorry. Did you want change for that?
The reason large denomination bills are not issued is due to the drug trade. Large bills make it easier to operate in the drug trade. On the other hand, money in cash that is not circulating in the economy, is like an interest free loan for that amount. The EU issued a 200 and 500 series of bank notes just for this purpose.
The large-denomination bill is going the way of the bearer bond... which it is, in a way.
Issue $200,000 bills to make it easy to pay Hillary for her speeches.
Make them “Special Hillarious” notes, payable only to Hillary and Bill Clinton, and not redeemable in anything but Lawyers fees, court costs, and fines...
US currency is still the backup currency all over the world. Once there is a currency with better long term stability, the dollar will reveal its true value. I’m not holding my breath.
The banks want $100 bills eliminated (and recalled) too. They want savings of cash eliminated and the money put in banks where they can impose a negative interest.
However, the story is here:
https://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency
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SOMEONE knows the answer but we ain't NEVER gonna hear about it.
Bring back the $1000 and $500 notes to circulation.
While at it, introduce the $200 bill and call it the “Reagan.”
Suggestions?
Have the Vice President get control of the federal agencies and employees.
Yes, I know they are mostly Democrat and will fight a Republican administration every step of the way with their allies the Democrat Party and the American press.
But, the thing is.......
You don’t have to control every federal employee.
You only have to control the computers and employees who handle pay.
Then, you use turnabout.
You treat the federal employees like they treat the Veterans.
Every time they have a pay action (step increase, promotion, travel pay, moving pay, etc...) you eliminate them from the payroll.
They will complain, but nobody answers the phone.
Keep telling them that you’re working on it.
After eight weeks, tell them you can’t find any record of them ever working for the federal government.
After a couple more months, you give them a form to fill out.
Two months later, accuse them of never sending in the form.
Continue to ignore their requests and label them as troublemakers and old codgers.
Of course, your first step is to put armed guards around the payroll offices to intimadate anyone who comes there.
What I do not understand is why so few challenges to seizure laws neglect to cite the 1st? Paying with cash is a free speech choice, choosing the method and manner of transaction. All other forms require a third party participation.
Excellent point.
Paying with cash *should* be a Constitutional right.
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