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Suggestions for a Trump Presidency: Issue $500 Bills
Gun Watch ^ | 6 March, 2016 | Dean Weingarten

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  The forfeiture laws that allow legal theft of property need to be revised or repealed.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


TOPICS: Business/Economy; Government; History; Society
KEYWORDS: 500bill; coins; currency; economics; liberty; money; presidentreagan; trump
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To: Mike Darancette
They want savings of cash eliminated and the money put in banks where they can impose a negative interest.

They won't call it 'negative interest', but 'transaction fees' or some such. "Negative Interest" would cause riots and runs on the bank.

21 posted on 03/05/2016 1:20:14 PM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: marktwain
"...and is redeemable in lawful money at the US Treasury or any Federal Reserve Bank."

Now missing from the FRN, which is a promissory note from a bank, not lawful money.

22 posted on 03/05/2016 1:22:37 PM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: marktwain; All
As a side note to this discussion, please consider the following.

Patriots need work with their state lawmakers to either get rid of FDR’s unconstitutional paper money, or amend the Constitution to make paper money constitutional.

Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphasis added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

23 posted on 03/05/2016 1:31:34 PM PST by Amendment10
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To: marktwain

This is a good first step. I believe that it should also be accompanied by a return of gold and silver as one means of paying in legal tender. The denominations of the various pieces will need to be changed from the present amount stamped on them, of course, but it is just the passage of a simple law away from being a reality. We could make not only a one ounce silver eagle but a 1/2 ounce silver eagle as well, neither of which could possibly be confused with the other coins in circulation due to their significantly larger size. They could have a denomination of $100 and $50, respectively. Gold would be minted in 1/10, 1/4, 1/2 and 1 ounce sizes (as they are now), with the denominations being $400, $1,000, $2,000 and $4,000. This will send the message that the United States is serious about the soundness of its currency. It will also give the Treasury some profit on the minting and metal costs and, at the same time, give us a little time to wring inflation from our system, so that these coins will not be removed from circulation due to having more value as metal than money. Most importantly, it would send an additional signal that the government was not interested in interfering with the private affairs of the citizenry. That attitude is sorely lacking at all levels of government, and has been for at least a generation.


24 posted on 03/05/2016 1:49:08 PM PST by Ancesthntr ("The right to buy weapons is the right to be free." A. E. van Vogt)
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To: Ancesthntr

I would say two generations.


25 posted on 03/05/2016 1:56:23 PM PST by marktwain
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To: marktwain

Yup. Have Cruze push for a Gold backed $500!


26 posted on 03/05/2016 2:12:32 PM PST by Cold Heart
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To: marktwain

What’choo need big bills for vato?


27 posted on 03/05/2016 2:19:41 PM PST by ichabod1 (Spriiingtime for islam, and tyranny. Winter for US and frieeends. . .)
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To: Skybird
Nope. I'd rather have the Founders on the money.

$1,000 bill: George Washington
$500 bill: James Madison
$100 bill: Benjamin Franklin
$50 bill: John Jay
$20 bill: John Adams
$10 bill: Alexander Hamilton
$5 bill: Thomas Jefferson
$2 coin: Abraham Lincoln
$1 coin: Jefferson Davis

28 posted on 03/05/2016 2:37:36 PM PST by Extremely Extreme Extremist (Yuge 2016)
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To: marktwain

Get rid of the Federal Reserve. 1000 other economic and social problems will then begin to right themselves. Money is the intermediary in, and measure of, nearly all social interactions. A fake, controlled or corrupted money leads to a fake and corrupted society.


29 posted on 03/05/2016 2:45:26 PM PST by PGR88
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To: marktwain
Cash is useful for preserving privacy

Exactly why the elites want to get rid of all cash.

30 posted on 03/05/2016 3:19:32 PM PST by Hugin (Conservatism without Nationalism is a fraud.)
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To: marktwain

Brilliant and fantastic idea!
The control freaks will go bonkerz.


31 posted on 03/05/2016 4:28:39 PM PST by Basket_of_Deplorables (Trump: Living rent free in liberal 'splodey heads since 2015!)
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To: Cruz2Victory

I suspect Donald Trump Ted Cruz and/or staffers read FR. If they do not, they should.


32 posted on 03/05/2016 4:40:49 PM PST by marktwain
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To: Mike Darancette

Negative interest does not make sense from a business perspective, unless I want to drain a bank of every last piece of hard currency when people pull out. I would think that to a large segment of depositors, I can find a variety of ways to keep my cash safe and more readily available if *earning* interest is no longer available as an incentive.

And if we have any reason to believe “negative interest” on deposit accounts will become common, now might be a good time to start converting some cash into precious metals.


33 posted on 03/06/2016 6:09:05 AM PST by jaydee770
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To: jaydee770

And yet they are happening:

http://www.bloomberg.com/news/articles/2016-03-06/negative-interest-rates-are-working-just-fine-so-far-bis-shows


34 posted on 03/06/2016 7:08:13 PM PST by Mike Darancette
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To: Mike Darancette
"...This is partly due to banks’ “reluctance to pass negative rates through to retail depositors,” with the exception of Switzerland, where some lenders actually increased mortgage rates to mitigate some of the costs incurred at the central bank..."

Ahhh, I see. That they (so far) are not fully passing it on to depositors is telling. Once they do that, there's the trigger for the stampede.

Then again, there's the old saying, "Those who do not understand interest, pay interest. Those who do understand interest, earn interest." I'll bet they are hoping their depositors are mostly the former.

35 posted on 03/07/2016 4:27:16 AM PST by jaydee770
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