Get rid of the $100 bill. Heck, maybe get rid of the $50 bill, too.
Posted on 02/17/2016 9:10:47 AM PST by jmcenanly
Get rid of the $100 bill. Heck, maybe get rid of the $50 bill, too.
So says Lawrence Summers, a former economic adviser to President Obama and ex-Treasury secretary.
Summers points to research showing that corruption is aided by paper currency in larger denominations, such as Uncle Sam’s $100 bill and the 500-euro bill ($557 U.S. equivalent).
How so? It’s easier for criminals and terrorists to move lots of cash illicitly in large bills. A million dollars in €500 bills weighs just 2.2 pounds, Summers writes in a blog post on the Washington Post website. The same amount of money in $20 U.S. bills weighs 50 pounds.
Summers says the U.S. government should stop issuing new $100 bills and perhaps take the old ones out of circulation. He implied that use of a $50 bill should also be examined.
He took particular aim at the resistance of Luxembourg to ending the €500 note, saying the tiny country has a “long and unsavory tradition of giving comfort to tax evaders, money launderers, and other proponents of bank secrecy.â€
(Excerpt) Read more at marketwatch.com ...
Control over the peasants - that is at the very heart of it.
Private corruption using $100 bills to move money secretly interferes with public corruption by the criminals in office that Larry Summers supports. We can’t have that.
Obviously the cost of print has gone up
and Summers just wants to inconvenience some electrons
for easier FEDgov. monitoring of your activities.
The Clintons are against this!
NO!
I’m against it and I certainly am not a clintoon supporter.
Punish the masses once again.
Getting rid of the $100 bill, or even the $50, won’t eliminate crime and corruption “
But it will give the Government the ability to TRACK your every movement by your spending habits, and eventually control every aspect of your pathetic life.
The same amount of money in $1 U.S. bills weighs 1000 pounds. That would really put a crimp in criminal activity!
I predict cash will be abolished by 2020.
Such a move would come in handy if the banks start moving to negative interest. People will have a harder time keeping their own money, and would have to put it in the bank, paying the bank for the privilege.
Summer's proposal is ridiculous, but if the research is valid, then in keeping with the logic that brought us gun-free school zones, just make Washington D.C. a $100 bill-free zone. That'll take care of most of the problem right there.
Most’of the physical’us money supply is in $100 bills. Somewhere close to 3/4 Of all hard paper currency.
Quickest non-obvious to most, way to turn us into a cashless society without telling people that is what you want to do. And they want to.
Central Bankers definitely have an agenda
They want to head up the “New World Order” with
Themselves at the top, and all of us in Vassalage
Banks are parasitic on their hosts
Workers, Families, Corporations, States, and Countries
They appear benign and even helpful, but are in aggregate
money and energy sucking parasites
At a minimum their activities are amoral
At their highest levels they are Sociopath Beasts
Think permanent mark on your forehead or RT hand
The Mark of the Beast
16 And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead,
17 and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name.…
Revelation 13:16
The ability to do this is here, now
control over money = global control by the new world order elites
And let’s go to a cashless society and charge negative interest rates.
My mom heard this. She is 86. She had me take her to the bank to withdraw 2 months of rent. I was kind of surprised she had figured this out.
She told me when she was in Japan after the war they would mess with the currency. She said it was a pain in the ass.
Larry Summers is a bag of crap. Real Americans would be for bringing back the 500 and 1000, screw this digital mess.
Typical Liberal idea: one or two people are causing problems, so let’s implement a chain-reaction, knee-jerk solution that affects EVERYONE ELSE!!!
Let’s start having wives come to work at noon and night with a wheelbarrow to pickup their husbands earnings.
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