A bankster in the UK wants to ban big bills

[OROBTC]

...

A bankster at the Bank of England (Charles Goodhart) wants to ban 500 Euro notes as well as 1000 Swiss Franc (that would be some $1050) notes as well.  That will get tongues wagging in the USA to ban our $100...

The War on Cash is ramping up.  Another terrible idea as part of the campaign to destroy our privacy.  Read all about it:

http://www.zerohedge.com/news/2015-09-25/goodbye-100-bill-ex-central-banker-demands-all-high-denomination-banknotes-should-be

[Possum577]

What war on cash?

First, comparing bills equal to $1000 or $500 is very different from the $100 bill.

Second, if inflation increases we'll only need higher denomination bills.

It all bodes well for bitcoin, which provides the anonymity and ease of cash.

[koinsuka]

This seems like the effects of the European economic
crisis and financial war between major countries

[markj113]

What war on cash?

First, comparing bills equal to $1000 or $500 is very different from the $100 bill.

Second, if inflation increases we'll only need higher denomination bills.

It all bodes well for bitcoin, which provides the anonymity and ease of cash.

Have a read around.

https://www.google.co.uk/?gws_rd=ssl#q=call+to+ban+cash

There is a growing global effort underway to ban cash, notes and coins.

Banks then have 100% control of your wealth.
Every penny accounted for.
When the bank goes tits up next time you will be footing the bill (laws already in place in many countries!)
The upcoming negative interest rates will force people to spend to preserve buying power rather than be able to stuff the bed mattress with notes.

[Denker]

What war on cash?

First, comparing bills equal to $1000 or $500 is very different from the $100 bill.

Second, if inflation increases we'll only need higher denomination bills.

It all bodes well for bitcoin, which provides the anonymity and ease of cash.

Have a read around.

https://www.google.co.uk/?gws_rd=ssl#q=call+to+ban+cash

There is a growing global effort underway to ban cash, notes and coins.

Banks then have 100% control of your wealth.
Every penny accounted for.
When the bank goes tits up next time you will be footing the bill (laws already in place in many countries!)
The upcoming negative interest rates will force people to spend to preserve buying power rather than be able to stuff the bed mattress with notes.

That's right saving cash at your account will be useless. It is useless already depending on where you live. So what people will do is to look for other options to invest if they can not spend or don't want to. Bitcoin might be one of the safe havens. Other will go into precious metals etc.
So let the negative interest rates come.
The same goes with banning cash. People will look for other opportunities to pay or trade with when they realize that with digital fiat,or state approved centralized crypto coin, they are completely monitored, controlled and slaved. And here comes Bitcoin into the game again.

[OROBTC]

...

This whole "War on Cash" meme is ominous and distressing.

Who wants .gov, the banks, etc. to know where you are spending your money, and what on?  Who would want .gov to have the power to cut you off from your electronic-only money?  CA$H (long green in your physical possession), BTC and gold are three reasonable, partial substitutes at least for now.

I started this thread because I have seen in a few places (not just Zero Hedge, LOL) more of this topic of the War on Cash being discussed.  The idea being floated now (banning large bills) is just upping the ante.  If we get more restrictions on cash, that would be very worrisome.

[OROBTC]

...

And this item just in (comment on the War on Cash):

http://www.zerohedge.com/news/2015-09-26/gold-tightness-when-theres-no-more-sell-theres-no-more-buy-any-price#comment-6597322

This is the second report I have read that B of America wants photo ID when depositing CA$H into their accounts.  That is THEIR OWN ACCOUNTS, not just deposits into accounts of localbitcoins sellers...

Another tightening of the screw.

[RustyNomad]

With cash out of the way the problem of bank runs will be a thing of the past.

Keeping your money in a bank nowadays is the same as keeping all your bitcoin in an exchange wallet/account. Its yours but the control you have over it can be taken away at the push of a button. 

[jbrnt]

You have to admit, those denominations are too high to have any practical everyday use. Shops don't have enough change to accept these notes. Banning these will not affect our lives at all. If these notes notes are makes it easy for criminals to hide and transport illegal money, banning them makes sense. This isn't about banning cash for all of us.

A bankster at the Bank of England (Charles Goodhart) wants to ban 500 Euro notes as well as 1000 Swiss Franc (that would be some $1050) notes as well.

Such concerns have festered for years. In 2010, U.K. banks and money-exchange services stopped distributing 500-euro notes after a report showed that 90 percent of demand for them came from criminals. An internal Bank of Italy study the previous year described how such bills were accumulated by mafia money launderers, terrorists and tax dodgers because they’re easy to hide and transport.

[Linuld]

With cash out of the way the problem of bank runs will be a thing of the past.

Keeping your money in a bank nowadays is the same as keeping all your bitcoin in an exchange wallet/account. Its yours but the control you have over it can be taken away at the push of a button. 

Yes now days it is quite risky and also it is not safe to keep money with us also because of two things. First we may spend all money faster because of easy access and secondly some one can take them all so I your country if you have a back which is backed by your government then that should be better option to keep the money instead choosing private banks

[BCwinning]

It all bodes well for bitcoin, which provides the anonymity and ease of cash.

bitcoin isn't even close to being as anonymous as cash and will never ever be.
Get your facts right.
Oh and I don't need to spend a "transaction fee" to make sure someone takes my cash.
try that with bitcoin and see how long it takes before it confirms..

[RealBitcoin]

They are already enacting laws to ban purchases with sums larger than 5000€ in cash.

This is not so that they can track mobsters, this is capital control and banker takeover.

[RustyNomad]

They are already enacting laws to ban purchases with sums larger than 5000€ in cash.

This is not so that they can track mobsters, this is capital control and banker takeover.

This is true, they can call it what they want to but its nothing more than a form of capital control. It will obviously be 'sold' to us with the line that it's for our own safety because this will help them to track terrorists and mobsters and by doing so make the 'world' a safer place for all of us.

[Snorek]

They are already enacting laws to ban purchases with sums larger than 5000€ in cash.

This is not so that they can track mobsters, this is capital control and banker takeover.

Regulations like these are only good against law abiding citizen. Criminals and mafia don't care about it.
It is true that we don't have many of these control freak lunatics running around and paper money is safe for now.

[deisik]

...

A bankster at the Bank of England (Charles Goodhart) wants to ban 500 Euro notes as well as 1000 Swiss Franc (that would be some $1050) notes as well.  That will get tongues wagging in the USA to ban our $100...

Bank of England? Last time I checked Great Britain was not part of the Euro zone (and they were going to leave the EU at that), nor was it one of the cantons... What did I miss?



Shouldn't they better ban the British pound first (some part of)?

[cjmoles]

They've already banned the big bills in the USA.  I guess too many people carrying suite cases full of 10 thousand dollar bills was too easy!  Well, look at us now...we don't even need a suitcase, just a flash drive!

[pedrog]

500 euro note are mainly used in black markets, money laundering and other illegal activities that require huge amounts of cash to be moved anonymously.

In the majority of countries that's what they are used for, I never had even one of those notes, I've seen a few.

The minimum wage in my country is 505 euros, so there's not much use for such notes and I always assumed they were created to facilitate high profitable illegal markets, considering 1 million euros in 500 euro notes weights only 1.6 kg.

[deisik]

They've already banned the big bills in the USA.  I guess too many people carrying suite cases full of 10 thousand dollar bills was too easy!  Well, look at us now...we don't even need a suitcase, just a flash drive!

These are still in existence today, since the federal reserve is known to hold billions of dollars in gold certificates, which these bills had been used for (as payments between federal reserve banks and the US Treasury)...

This is roughly some 400 bitcoins

[SimpleIn]

People are crazy to many ideologies are spread accross the wirld ... i bet if the chinese governament decides to take all its rightful debt from USA - it will be the end of the american population

[moneyart]

Yes, the central banksters want to ban big cash notes (and even cash at all). The reason is, that they want to trap you into the bank when the system crashes like in Greece.

When the inflation arrives the normal citizen we need 10000$ bills in cash or even more.