Posted on 02/16/2016 10:11:10 AM PST by amorphous
Yesterday we reported that the ECB has begun contemplating the death of the e500 EURO note, a fate which is now virtually assured for the one banknote which not only makes up 30% of the total European paper currency in circulation by value, but provides the best, most cost-efficient alternative (in terms of sheer bulk and storage costs) to Europe's tax on money known as NIRP [Negative Interest Rate Policy].
(Excerpt) Read more at zerohedge.com ...
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The Mystery of the One Bank: its Owners?
Larry Summers is an idiot. Always has been. Back in 1980, he predicted that if Reagan got elected and cut taxes, inflation would shoot to 40%.
I’ve not seen a $100 bill since obama was elected. LOL
I always demand cash in $20s. I don’t want to get stuck with a bad $100 someday. So in 20s, the worst I am is out $20 if its a bad bill.
Good idea!
I be stealin it (the idea)
It’s not that easy to pass a $100. I try to stick with $20s.
I’ll happily provide a good home to any hundies that are at-risk
Really I have not trouble exchanging them for useful items.
Their Negative Population Growth Rate Policy worked so well.
I think that used to be true more so than now. It’s not hard to spend that much for a few people to go out and eat.
Bad idea.
A few more years of Obamanomics and twinkies will need a $500 bill to buy their sugar-free, non-fat, vanilla soy, decaf, White Chocolate Mocha double Venti.
Funny, I was taught to do that long ago. I never except a 100 for anything.
He doesn’t propose in reading the amount of twenties. The idea is to take cash out of the system so people will be forces to pay for everything through the bank, where big brother will know everything you do with your money and the bank can charge you for it. Perfect for gun control.
Not until they ban craps tables.
“Progressive” nations want to eventually move to cashless economies.
Just think of the things you couldn’t do, or wouldn’t want to do, if every transaction was recorded for review by the government.
The larger bills ($1,000 $5,000 $10,000) were discontinued in 1969.
But we have had 600% inflation since 1969 so larger bills would be even more useful today.
And consider this - One $10,000 bill cost only 1% as much for the government to print as $10,000 in $100 bills.
But the federal government doesn’t want us to have the ability to make large cash transactions easily.
That is one reason banks are required to report deposits and withdrawals of $5,000 or more.
And why they are required to report systmatic transactions of large transactions that are slightly less than $5,000.
I think it would best for everyone to consult with President Robert Mugabe from Zimbabwe for his input on this topic.
Exactly. We hosted a few friends at a restaurant and dropped a few hundred the other night. We always use $100 bills at restaurants and don't use credit cards there.
What an idiot a statist is. Money follows money and if your country’s banks are charging negative interest then the money will flow to countries and markets with a better rate of return. Then the idiots will start with “official exchange rates” and the money will flow out faster, then the idiots will try price setting and other controls and the money will flee faster. Then the idiots start shooting people and, eventually after so much abuse, the people water the tree of liberty with blood.
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