US Currency - $50 & $100 Note Discussion

[DMCakhunter]

An article in yesterday's Wall Street Journal centered on halting production of future $50 & $100 bills in an effort to combat crime, tax evasion and force people to use trackable payment methods. Same thing was done in 1969 when $500, $1,000, $5,000 and $10,000 bills were no longer issued. Also of note, the Euro zone discontinued the 500 euro (the largest euro note).
At the end of 2015 there was $1.38 trillion in US cash circulating in the global economy. Of that, $1.08 trillion was in $100 bills. In 1994, there was $229 billion in $100 bills.
Interesting article.

[Nemo]

So, some of us need to get a bigger safe?

Nemo

[JohnyMac]

There is a lot of noise of going completely digital - No cash.

I think France went to no transactions in cash over € 1,000-. Germany no more than € 5,000-. Norway will completely outlaw cash by year end.

Like the lower US denominations, there is a strong push to lessen/eliminate cash so that no money goes untaxed.

Stay tuned. 

[graynomad]

There is definitely a push to go cashless, I can't see it happening for some time because the technology is not quite here ( unless they can close down every market in the country etc.) For true cashless every person has to have the equivalent of an EFTPOS machine, not possible now although there is talk of your smart phone performing that function so it might be possible soon.

However what "they" are talking about is removing all notes above $5/€5, that could be done tomorrow and allow them to keep track of most transactions while still allowing the markets etc to survive. This would be a good first step for TATB (The Arseholes That Be) until the technology catches up with their desire to screw everyone.

[JohnyMac]

This should be interesting to watch world wide. The EU and other countries will be the canary in the coal mine for the USofA and other countries, e.g. Australia, South Africa, United Kingdom to list a few.

Many theologians believe that moving to a cashless society, ala ATM/debit cards, smartphone, etc. is the mark of the beast . Whether it is a movement we read in Revelations or .gov wants more and more control it is probably coming our way.   

More important though is: I guarantee negative interest rates are coming. In short (DM correct me if I am a bit off here) negative interest rates mean that the Federal Reserve or another countries central bank will charge your local bank money to store their/your money. This will cause your local bank to charge you storage money.

Now being the typical consumer, you will then keep minimal money in that bank. The Elites will hope you don't save money but spend it in theory, spurring the economy.

This direction will tag team the move away from cash and to just use 1001010101's in the form of debit cards.

Lets understand we live in a world where Socialistic Elites in-order to remain in office, have borrowed away our, your and your children's future to give us stuff. Short of a world war, the Elites are going to try anything and everything world wide. Some great examples we see right now are, Venezuela, Greece, Cyprus, Puerto Rico, Detroit, "fill in the blank."

We live in interesting times folks...Interesting times. 

[JoJo]

Could you imagine the home invasions when people keep their money at home? The muggings because people will be carrying their money with them. WOW what a idiotic idea. But then it's about control isn't it.

[DMCakhunter]

JM,

You are right on the central banks. A solution would be that your / my bank do not use the central bank to park money and have piles of cash in the vault. You would see interest disappear on your account, except on CD's. Our banks have lots of ways to make money that do not require the central bank for any reason, but they would have to keep 100% liquidity on all bank assets and there is not enough US currency in circulation to cover much of it. It is all float.
On another note, the average bank charges $100 / year for a 12 by 6 inch bank box. You are better off investing in a quality fireproof gun safe to keep more of your goodies in over the long haul.