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GeorgiaSaint
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This may seem so loosely tied at first as to be first class conspiracy whackoism. Just hang in there a bit, then if somebody still thinks so, go ahead and “have at it.”

I became aware of something a couple or three days ago that immediately caught my attention – an article at Casey Research about Lawrence Summers’ Washington Post column titled, “It’s Time to Kill the $100 Bill.” One can put the article title in quotes, stick that in a search engine along with Summers last name, and all kinds of references will come up. Here’s just one short one:

http://www.economicpolicyjournal.com/2016/02/larry-summers-its-time-to-kill-100-bill.html

I think back to my experience in an S&L during the S&L crisis in the aftermath of Black Monday (October 1987). Older people who’d lived through the depression were withdrawing cash in massive amounts. What was truly instructive was sitting there all day, watching Brinks truck after Brinks truck show up to keep supplying the S&L with paper money in order to avoid a panic. There wasn’t even remotely enough money in the S&L to pay out all the customer demands. But the paper flowed in, and the customers flowed back out feeling quite safe. They had “their” money. Multiplying all the paper money deliveries to all the S&Ls at that time in just this region was truly a remarkable feat as I’ve thought back on it, realizing that massive volume of paper “money” was flowing all over the nation. It was little reported, thus very few people really knew it was going on. I only witnessed multiple deliveries to a single branch of a single S&L, and just that was quite impressive.

Mr. Summers stated in his WaPo article that, “Illicit activities are facilitated when a million dollars weighs 2.2 pounds as with the 500 euro note rather than more than 50 pounds, as would be the case if the $20 bill was the high denomination note.” In other words, Mr. Summers and company are merely saving us from the nasty drug dealers and other unsavory characters. So he says.

But when one combines that with the actual trend around the globe to a cashless society altogether, one begins to wonder. Take for example this article from nearly 50 years ago:

http://paleofuture.gizmodo.com/the-privacy-dangers-of-a-cashless-society-were-clear-ov-512266908

Then consider this from a subscription publication that was allowed to be reprinted on the Casey Research web site for free (where I first saw the Larry Summers proposal):

http://www.caseyresearch.com/articles/weekend-edition-when-cash-is-outlawed-only-outlaws-will-have-cash

Now consider the person that wants to innocently periodically withdraw “small” amounts of cash (well under the $10,000 trigger – which by the way is STILL no guarantee, since they also look at “patterns” that total $10,000). It may be that all they want to do is simply pay cash for purchases to the extent possible – possibly even negotiating cash discounts at some merchants. No problem? Having to take a few $thousand in all $20s results in a not-so-nice bulky package as you walk out of the bank. Of course that further discourages people from using cash – it’s too much of a pain to get your money from the bank and safely get it home. We can’t “spend” $1000 bills anywhere. (Can we even GET $1000 bills anymore? I don’t know – haven’t had occasion to bother even asking.) Plus, more and more places won’t take $100 bills, and if they’re subsequently banned by FedGov, it’s a moot point. What’s next? $20s?

Sweden, Denmark, and others are leading the way into a fully cashless society. The US is merely doing the “boiling frog” routine of more slowly increasing the temperature so as not to alarm the frog. But if one really looks, the signs are all around. From the Casey Research article, ” ‘High-denomination notes,’ said the report, ‘play little role in the functioning of the legitimate economy, yet a crucial role in the underground economy.’ ”

“Underground economy” includes drug trade, but it also includes ANY transactions the government can’t control and monitor. Do away with cash, and it’s all transparent to the government(s). In no particular order, they know what we buy, where we bought it (and therefore where we traveled), and when, simply by our everyday use of credit cards. Privacy is further eroded. And just what is it we’re going to “withdraw” when cash no longer exists? Will there even be a need for a “bank?” Loan applications, etc., could be done on line, along with all other moving of money (fully tracked by the federal clearinghouse, of course). And with no “hoarding” of cash possible (because paper money has been deemed worthless after a certain deadline for turning it in for “credit” to our accounts), we can have money electronically confiscated at will – not just from our MyRAs or other investment accounts, but our “regular” bank accounts.

Then, “too big to fail” almost goes away as a concept, because all “money” will simply be zeros and ones in high speed digital format, speeding all over the globe 24/7/365. We’re almost there today. But when investors (or simply citizen savers) can no longer line up to collect their funds in any physical format, what does “failure” mean then anyway?

We can still sock away $20s, even $100s, but in time there will be turn-in deadlines, after which those slips of expensive paper will be worthless in any economy – underground or otherwise. MAYBE gold and silver will still have value, but when those can’t be swapped out for government-recognized “money,” who’s going to even want gold and silver? Food, water, toilet paper, ammo, etc., will be the new gold. And lives will depend on it – one way or the other.

For final (very chilling) fun, check out the latest Hasbro version of “Monopoly.” This ought to send chills down the spine of anyone with kids or grand kids. Read the entire article for the full “flavor” of just what’s being “taught.” Our kids are being brainwashed into an entirely different way of thinking than we knew:

http://www.avclub.com/article/monopoly-now-cashless-economy-232281

Who needs banks?

GS
"Ye hear of wars in far countries, and you say that there will soon be great wars in far countries, but ye know not the hearts of men in your own land."