Harvard professor and former secretary of the treasury, Lawrence Summers, says it’s time to do away with the $100 bill.
His reason is actually pretty interesting, and I have to say I never really gave it that much thought before.
Summers says it is way too easy for criminals to transport illegal money. If the highest denomination bill was a $20 it would quintuple the weight and bulk of money being secreted.
Of, course, a cynic would say it would be easier for the government to seize LEGAL money that is being transported.
There is an epidemic of police officers seizing money from citizens when they’re traveling. They’ll falsely charge them with trafficking drug money and simply take it.
Good luck getting it back.
ht/ fdr in hell
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NIRP, NIRP, NIRP,
$100 bill?
Never seen one.
Got some quarters, a few dimes, and a couple of pennies …
According to a site I visit, this is in preparation to banning all cash and using electronic transactions. This will allow the government to control all of our daily functions. The problem I see is that maybe someone will set up an alternative currency and administer it. Perhaps a foreign country will have a currency that is backed by gold and we will use it’s notes to conduct our private business, just like many people around the world use dollars. Anything from Clinton types I will oppose out of principle and distrust.
Oh and one more thing. Larry Summers is the former president of Harvard University. You may remember that back in May of 2014, a student organization at Harvard conducted a Satanic Mass there. Just remember who these people are.
There already is an alternate medium of exchange, and it is time-tested and keeps on working. That would be gold – and silver – metal in uniform and fungible forms of known purity and weight. They’re known as “coins” or “bullion bars” usually.
Sure, I’ve heard all the objections, but with trusted private warehouses and enforceable bailments, even large transactions are fairly straightforward and don’t involve needing bigger pants pockets.
So, what happens to the handful of 100 dollar bills I have under my mattress that are saved for s rainy day?
You know what ? Fuck them. They are going to push until it gets ugly. Then many will die. For what? Control? Power? Egos?
The greatest country in history will sink like the titanic only it will arise again on thd backs of strong men that will be the survivors.
I hope to be reincarnated so I can see it.
Now back to my Guinness.
In Vegas the C-note is the primary currency.
I love cashing in a stack of black chips for a stack of Franklins.
I suppose our rat bastard government wants to ruin that too.
Another thing, they need to consider that $5000 hookers can’t be carrying around 250 twenties…
Just my luck. I finally managed to save 3 of the new ones and now the bastids want to ban them. Damn!
Moe, I’ll give you 20 cents on the dollar for them.
Just don’t send them to a PO Box in Port St. Lucie…
That means I would have to dig up all those mason jars and trade in my money for smaller bills, buy 5 times the mason jars I have and re-bury my hidden money while alerting the feds I have cash they haven’t seized yet.
Hey, but on the upside, mason jar companies get full employment as demand skyrockets and world hunger is solved due to Bernie taxing mason jar companies at 99.99%!
To be immediately replaced with the $99 bill….
they can’t even get rid of the PENNY how can they ditch the $100?
1.08 trillion of the 1.38 trillion physical currency in circulation is in $100 notes. Think about what that means if they stop making the c-note. It’s the first move in banning all cash. Right now, Germany is about to ban the 500 euro note (again the most popular note) and if they do so, it means that one-third of all euros in circulation would disappear.
Sweden is the first cashless country in the world and Denmark and Norway are close behind.
Have you asked why you now have a RFID chip in your debit/credit card? Your passport? The world is being prepared for a total surveillance state where all your commerce is monitored and approved by the government.
We live in interesting times.
I just love going to the bank and getting 15 $20’s counted out at light speed when cashing a check. I promptly hand them back and say “big bills please.” I like to be able to fold my wallet and not walk around like a cripple with a herniated ass cheek.
I will gladly accept all the 100’s anyone wants to send me…don’t wait for the government to put you on a watch list…let me help you avoid the issue.
They want to eliminate physical cash entirely, so they can (they believe) force the informal economy into their banking system – with them taking a cut, coming and going. If they were successful, it would destroy the informal economy – just as their stellar management has destroyed the ‘formal economy.’
Sadly, the only thing keeping society working at all, at this point, is the informal economy. Destroy that, and society crumbles completely.
Uncle Al, AC, in your scenarios, I see double-shot bottles of Jack Daniels and boxes of .22 LR being the new medium of exchange.
Typical communist concept.
Why not 100 men with shovels rather than one tractor?
Or a thousand with teaspoons?
They should just cut to the chase and make the penny the maximum currency size.
Start a petition to replace Franklin with Peg Sanger’s face on the $100 and that will bring an end to their plan pronto.
Summers has too much time on his hands between Satanic Rituals and animal sacrifices. 🙁
First, It’ll be the $100….then the $50,……….then the $20,……then coins (gold and silver included)……
Then cashless altogether…..
Then they have total tyrannical control.
I oppose the elimination of physicality. Once letters gave way to e-mails, spelling and grammar went down the toilet. Can’t wait to see what will happen when money becomes more conceptual and less real.
You’d see a lot of business shifted to Bitcoin like alternative currency and governments will only get their hands on the wealth of their citizens at tax time and charging of fees.