The war on cash continues: Bilderberger Larry Summers wants to "kill" $100s and $50s.

originally posted by: Krazysh0t
a reply to: gladtobehere

Meh. How many $50 or $100 bills do you keep in your wallet at any given time?

The wallet is not the full objective here,
it is the cookie jar that would be under duress.

mid 20's, Cash is king. Privacy, private sales, gambling, etc.

Only use a credit card when needed. That data is collected and sold.

They want a cashless society. Then they can start feeing every transaction. Any sale and every sale will become taxed. bleed us dry.

How about the fix something, anything. This whole idea is a non-issue. The fact that they are worrying about this when things can actually be done is sickening. screw these people.

You had me at Larry Summers.

m.motherjones.com...

originally posted by: AugustusMasonicus
Counterfeiting devalues United States currency regardless of where it takes place.

The use of counterfeit 100s in Zimbabwe does literally nothing to change the price of cheese in the US. Even in Zimbabwe, the increased presence of counterfeit is already priced into the market, but you should certainly be able to negotiate a discount on your order if you could offer some reasonable assurance that your briefcase full of 100s was verified to be 100% legit.

Also since you care about counterfeiting, you have to hate this idea Larry Summers is modestly proposing. He wants to stop printing NEW 100s and 50s. The new 100s and 50s are the hardest ones to counterfeit. Counterfeiting is like an arms race and Summers is proposing that the US should stand still and let the counterfeiters run towards the goal. The result over time would be them working their way up towards being able to fake the newest bills. Larry is surely just trying to modestly propose a way to "boil the frog slowly" i.e. offer a first step towards the long term goal of getting rid of paper cash, but it's for the above reasons an obviously ill thought out one.

But come on, man. Nobody is going to believe for one damn minute that this has anything to do with counterfeiting. Are you seriously going to tell me that you suddenly think counterfeiting is such a serious problem that we should get rid of money itself? Kill the patient to cure the occasional case of the sniffles?!?! Madness.

Something you should consider that is far more important: abandoning the duty to issue currency devalues the United States government for all its citizens. It would be the dumbest sort of way to manage things in the 21st century, to just pull back and hide behind the city walls.

Is that how you think the 'city on the hill' should rule? Just give up on core responsibilities and let who knows what fill the gap? That's where mafias came from in the first place, from an inability of the centralized governments to rule at the local level. No government cash at the local level means less government presence, not more government presence.

Getting rid of cash is the new "one world currency" type of idea. The one world currency was a pre-internet idea. Everything it would accomplish worth accomplishing was accomplished instead by the internet and communications technology in general. Some people even still want it, even though now it is obviously something that only comes with all the downsides instead.

Now we even see that the Euro was a mistake; Europe needed maybe at least 2 or 3 economic zones rather than one. The US is in the same boat; it needs more than one economic zone to make monetary policy more effective once again, instead of just one giant stop/go lever on the whole country.

If cashless is so much better, it will win on its own without handicapping the race. More likely is that, to the extent that it comes into existence, "post-cash" won't mean getting rid of paper money. In fact, the all-purpose paper money is becoming even more desirable, because it is getting scarcer...it is getting harder for the average person to get their hands on it.

Thus, the dollar is just fine as-is and should be going nowhere. It will be the King of US currencies, because it will be good anywhere and for anything. Other US currencies will exist and they will be good for limited geographical zones or purposes. One already exists: EBT aka food stamps. The only alternative to money for governments is rationing, and rationing is usually about creating a new and more limited form of currency for a specific place or purpose or even people.

For the people, when cash goes away, it creates a power vacuum. It would empower street gangs in a way not seen in the US since "the bad old days." Everyone would have to belong to one. Look at Venezuela now and its murder rate. They seriously want to do this on purpose to everyone everywhere?!?! Madness.

One easy prediction is that if cash goes away, there is one old stand by which will make a nasty return: human trafficking. It has a lot of synergy with widespread crippling poverty and the high birth rates which always accompany it. Women would get the worst of it, of course. And thus the other side of this coin is fundamentalist religion being one of the main "gang" options.

For all the hype though, there are still enough thinking people out there that the whole idea is just untenable. Jerks like Summers need to relax, enjoy their pricey scotch, and let younger people run things because they are the ones who expect to live long enough that they don't want to burn down the world anytime soon attempting to enact dumb ideas like getting rid of cash.

a reply to: 11andrew34

I wish I could star you more than once for that post. You put that down really well and in a way anyone should be able to understand. Nice one.

originally posted by: gladtobehere

A former top economic advisor is calling on the Treasury to do away with $50 and $100 bills, claiming that larger currency denominations make it easier for criminals and terrorists to do business. But as with all “for security” arguments, there’s an entirely different hidden motive at play.
”

This is all crap of course. Govt hate cash because they are thwarted to to some extent in their surviellance of the population.

Cash cannot be traced to anyone.

Signing a credit card slip is a hit and miss affair.

PIN numbers enable the transaction to be traced to 2-3 people but does still not 100% accurately identify the person who did the transaction enough to lead to conviction.

Cashless eye retina based spending provides 100% traceability to you and only you and it will lead to automatic conviction.

A cashless economy means that you will never be able to keep your money anywhere other than in a bank.

They will be able to account for every single cent the state, an employer, friends, family or anyone else gives you and for each and every cent you ever spend. Each and every 'un-unauthorized' transaction will be known at the press of the enter key and you will have some explaining to do.

It enables a lifelong 100% accurate financial transaction history from cradle to grave. It also makes it impossible for you to do a bit of work for cash in the hand. Bartering will be outlawed and become a risky proposition.

Surveillance capability - A child buys 2 ice creams in one week after school on the way home. A red flag pops up on a screen somewhere, is it bad parenting, predisposition to obesity, education failure or is it the rebel gene? Weighty questions indeed.

Is an intervention in the family by the state required?

Will removal of the child from the home be required? Will security be required?

A check of the fathers spending shows he purchased a gun 20 years ago and he buys 1.5 litres of alcohol each Friday night, that makes him a problem dunit? Get the drift?

originally posted by: Curious69

They can track and trace me all they want, i got nothing to hide, .

What on earth makes you think you are going to be the one who decides whether or not you have anything to hide? Where on earth did you get that idea from????????

The first person who is going to decide whether or not you have anything to hide will be somebody sitting in front of a computer screen christ knows where in the world.

The second person who is going to decide whether or not you have anything to hide will be a suit in your face in a police station at 3 am.

I'm affraid you will be the last person who will decide whether or not have any think to hide. Surely you must realise this???

a reply to: gladtobehere

Eliminating cash simply further narrows down the range of choices and options available to people.

This loos of choices and options will result in people beginning to feel like they are controlled, if not owned by someone else.

Under such an environment, you will never be able to put anything away for a rainy day as they will always know what you've got because they will be to simply look what you brought in the last year or so.

a reply to: gladtobehere

The war on cash continues:

I think in Australia they are doing the same thing by stealth. I have not seen a $100 note for several years.

The ATMs here never give anything higher than a $50 note. Its been this way for some years.

originally posted by: RainbowPhoenix
C.R.E.A.M. Cash Rules Everything Around Me...seriously this is one of my biggest "realistic" fears that I will live to see this enacted. It has already been said and I agree this is just one more chess move in the direction of total surveillance and tracking of all movements of we the sheeple. Bad news if this goes down.

youtu.be...

originally posted by: Azureblue
a reply to: gladtobehere

The war on cash continues:

I think in Australia they are doing the same thing by stealth. I have not seen a $100 note for several years.

The ATMs here never give anything higher than a $50 note. Its been this way for some years.

well i am in rural NSW and i took $3000 a couple of weeks ago and 2 grand of that was in crispy greens........

To address the topic ...what a horrible idea, how can this be anything other than an attempt to remove cash.......if they do this it will get ugly out there...

In a new world with suppressing technology.
Lacerations lead to codes embedded in blood streams beneath the flesh.
Currencies fuse together to form a solitary and overruling capital.

Money evolves into cryptic letters and numbers that flow through the net -
a conflagration set to diminish papered riches, depleting its masterdom.

Embedded - Job For a Cowboy

a reply to: mOjOm

I do no think you can go to a fully cashless society so, yes, I do believe that. Counterfeiting is a serious and ongoing issue and I am not really seeing the great hardship that people would have to endure by not having a €500, $100 or $50 notes.

They even joke in Europe about the €500 being counterfeited so it is beyond an obvious problem.

originally posted by: 11andrew34
The use of counterfeit 100s in Zimbabwe does literally nothing to change the price of cheese in the US.

I guess all those counterfeit bills will just stay securely in Zimbabwe and never ever make their way out of the country.

Are you seriously going to tell me that you suddenly think counterfeiting is such a serious problem that we should get rid of money itself? Kill the patient to cure the occasional case of the sniffles?!?! Madness.

Do you always put words in people's mouths? Where did I say I wanted to 'get rid of money itself'? Stop being a goddamn hysteric.

a reply to: burntheships

What's wrong with just having 2 $20's and a $10 or 5 $20's instead?

originally posted by: neo96
a reply to: Krazysh0t

What is the bloody difference between a single hundred dollar bill or a bunch of smaller ones that add up to a hundred ?

Someone gets robbed they still get the same amount.

Only the thief has an easier time spending it.

LOL geez.

Umm you know you just cut yourself off with this remark.

As you said what makes the difference if you have $20 or $100? So why keep the $100?

Elimination of paper currency will give the governments and bankers total power over the working classes.

They will take upon themselves to make sure you pay your dues first and feed yourself second.

That is the wet dream of every government and bankers in the word.

What about those of us who try to live without debt?
Some of us don't carry cards around, and paying for a months worth of groceries in $20's would be a pain. Even my medical is paid for with cash. Carrying around that kind of money in $20 bills would be ridiculous and make it much more obvious that there is that much cash in my wallet, in turn making me even more of a target than having a few $100's tucked away out of sight. I've never in my life had a credit or debit card in my name. Why should I be forced to do so now to make larger purchases?

A cashless society is about control and nothing more as so many others have already stated. We should be free to decide if we want to involve ourselves in the debt slavery that so many seem to desire. Not everybody wants to sign their freedom to decide how they live their lives away for convienience sake.

Ha! Jokes on them! I'm so Broke $50s and $100s are already dead to me.

Me 1 TPTB 0! Ownage.

Wait. .................

originally posted by: neo96
So we lost the $10,000 bill. Ok the people never really had that one. It was used between bankers.

We lost the $1000 bill.

We lost the $500 bill.

We are losing the $100 bill, and the $50.

If they want to do away with something get rid of pocket change.

They are doing that already. In the UK, Vending machines don't accept copper money (1p, 2p coins). In Norway, you can make a payment by sending a SMS message to particular number along with a ID code (eg. AF345G to 82428).