Tuesday, February 16, 2016

Larry Summers, Banker Shill, Suggests Eliminating the 100 Dollar Bill

With an honorable mention to Ernest Hemingway for a proprietary concept- I must admit that thirty years seems like a long time. For me, it was 1986.

Some 30 years ago, my best friend who is now deceased, explained to me how he believed that bankers controlled the United States and he said that one day- bankers would desperately try to eliminate cash altogether. Whoever controls the money supply controls commerce and people he explained. Ultimately he said, banker leverage would far exceed the claims on cash in the event of a massive bank run. That would cause a cataclysmic bank disaster not unlike the one that unfolded in 2008. Given their choice, bankers would love to force everyone onto a credit card where the banking industry and government could monitor every transaction, eliminate cash transactions that avoid scrutiny and taxes, skim every transaction, and shut off your card whenever government deemed fit to do so. (We are seeing this with passports right now) In addition, electronic currency would allow banks to operate with impunity. There is no end to counterfeiting and leverage when bankers can convert a tangible form of money into largely intangible, electronic digits. Think about that. No more bank runs. Just add a few zeroes to your card. In an odd way, the currency that bankers created has become a heavy chain and burden around their necks.

I thought Craig was nuts at first but he was simply ahead of his time. And like most people who can see the future- Craig and his family were ultimately ridiculed. When you arrive first with a proprietary idea which speaks truth to power- ridicule, harassment, and prosecution will surely follow and it did.

Craig's father ultimately went to prison for engaging in the the same balance sheet tomfoolery that banks have been engaging in for ever. They called it bank fraud. When stealing money it seems, bankers don't like any competition.

So when I saw a CNN piece about Harvard educated and would be Federal Reserve chair, Larry Summers, suggesting the elimination of the 100 dollar bill- my thoughts immediately flashed back on my old friend. http://money.cnn.com/2016/02/16/investing/hundred-dollar-bill-larry-summers/index.html?iid=hp-stack-dom This is how it starts. Seemingly intelligent, credentialed people telling us how it would be a good idea if we eliminated the 100 dollar bill. There must always be some demonstrated need to sell a big change- and in this case Mr Summers uses the "curtailment of crime" as his conduit. Drug dealers and money launderers would be the target. What a noble premise! Well except that...

Getting rid of the 100 dollar bill would actually have the opposite effect. It would enable crime to flourish. It would be the first step in eliminating currency altogether. If eliminating currency and evolving it into something digital become the end game- not only would audits become useless- but counterfeiting would become effortless. Leverage would go bonkers, reserves would never be disclosed. The greatest thieves- the ones in suits- would be dancing in the streets. And crime would just shift from one relatively small group of drug dealers and money launderers- to a giant horde of bankers skimming every transaction with money they don't even possess.

Precious metals would be outlawed. Guaranteed.

And the government? Wouldn't it just love to exert complete control over your bank accounts as it slowly goes broke, withdrawing taxes and shutting off your ability to transact whenever it deemed necessary? The government could simply declare you a domestic terrorist and seize your assets without due process. Kind of like they are doing with passports right now- rescinding them if you owe 50k in unpaid taxes- a number which will surely ratchet down in the years to come until they seize your right to travel altogether.

The sad truth, the one Craig understood, was that all things are accomplished incrementally with a long range plan. You can't simply outlaw currency altogether- you have to do it slow and incrementally- one little piece at a time offering a reasonable explanation for every step. That's been the slow drip of an ever oppressive Federal Government and the resultant erosion of our constitutional rights over time. One day we will be stripped of everything, mostly our freedoms, and while scratching our heads we shall wonder how it came to be.

My friend Craig died in an explosion a few years ago. It was a devastating loss for me. I wish he were here to see this. I can almost see him now- laughing and nodding his head- knowing full well that a nation of gullible and uneducated people might just concede the 100 dollar bill. Buying into some Harvard bullshit offered up on behalf of the banking cartel.

I must give credit to Ernest Hemingway for the general idea and observation which I have re arranged just a little bit... How did we lose our freedom? Two ways. Slowly at first, and then suddenly.






4 comments:

Anonymous said...

I think negative interest rates are the latest trick in a banking world that never seems to exhaust all of it's tricks.

BRIAN, THERE YOU GO. SUMMERS GIBSON'S PARADOX CLEARLY SHOWED THE BANKSTERS PLANS OF CONTROLLING GOLD, THUS CONTROLLING INTEREST RATES.

THE GOONS OVER IN BRUSSELS, JUST FLOATED THIS VERY THING WITH THE EURO E500.

THEY WANT TO BE ABLE TO TRACK, AND TAX, EVERY TRANSACTION.

CHINA SAID BY 2020-THEY WANT TO ELIMINATE IT. IT SAID IN THE ARTICLE, ITS BECOME TOO EXPENSIVE TO COIN AND PRINT MONEY. THIS IS A COORDINATED, GLOBAL EFFORT OF CONTROL.

GOOD GRIEF. HERE'S A RECENT BANKSTER PROOGANDA PIECE BY SOME BLONDE BIMBO:

Remember the look of this note - the European Central Bank may soon eliminate it

By
Sara
Sjolin
Markets reporter

Is the end nearing for the 500-euro note, beloved of gangsters, money launderers and tax evaders?

The likelihood that the valuable bill could soon be struck out of the euro family may be rising after Benoît Coeuré, a member of the European Central Bank’s executive board, told French daily Le Parisien that arguments for keeping the €500 bill are becoming “less and less convincing.”

“We are actively considering the question and will take a decision shortly,” he said in the interview. “The competent authorities increasingly suspect that they are being used for illegal purposes, an argument that we can no longer ignore given the importance of the fight against money laundering and terrorist financing.”

The issue of big notes has been discussed for years, and some bankers and economists have called for a ban on the €500 note (worth about $567) in the name of fighting organized crime and terrorism.

It moved back into the spotlight after Peter Sands, a senior fellow at the Harvard Kennedy School, published a paper on the topic earlier this month. The former chief executive of British bank Standard Chartered PLC STAN, -5.34% argued that ditching notes of that caliber would make it harder for terrorists, money launderers, traffickers and tax cheats to move large sums of money around without detection.

A Colombian woman arriving at Bogotá’s airport was caught last year after having swallowed 64 latex-covered capsules, each containing five $100 bills, according to the Financial Times. And authorities at London’s Heathrow airport caught a smuggler two years ago who had 40 €500 notes in her underwear and intended to fly to Turkey to meet an ISIS sympathizer, the paper said.

A86

**WHY DO U THINK WE SUDDENLY SAW APPLE PAY? AND DIDN'T HEAR A WHIMPER OUT OF AMX, M-CARD, VISA, ETC., ETC..

AS JOHN OLIVER WOULD SAY, ' F ' THESE GUYS'!

Anonymous said...

Precious metals would be outlawed. Guaranteed.

Agreed. ALA 1934-GOLD RESERVE ACT; MODERN DAY VERSION.

Before we get here, they would place windfall capital gains taxes on metals.

What should have been done to all the crooks who profited from the sub-prime mortgage crisis: 90%. IF 5-IRON had the nuts to do what he said, this would have been the cleanest way to hammer the WEASELS.

A86

Anonymous said...

http://www.marketoracle.co.uk/Article54022.html

WAR ON CA$H

A86

Anonymous said...

Larry Summers Calls to End $100 Billis — Here Comes the Totalitarian State

Larry Summers, the father of NEGATIVE INTEREST RATES, is so against a free society and looks upon us as dumb cattle to be herded and corralled for his pleasure. His ideas are just beyond belief. Now Mr. Pro-Government-Anti-Democracy is advocating killing the $100 bill. He is moving to electronic money so that government can get all the taxes it ever dreamed of. We are rapidly being converted from milk cows to just beef cows. This is creating a completely totalitarian future. With people like this who never had a real job but knows how to dictate to the world, our future looks very bleak.
Summers actually reveals this is really about taxes by arguing that the U.S. government should stop issuing new $100 bills and recall the old ones out of circulation. Keep in mind the government will comply because this is the balloon he is floating at their direction and the press cheers our demise. There is nobody in the press willing to call him out. They prefer to lick the ground he walks on. They give him air-time because that is their role.
Summers went further and suggested that even the $50 bill should be examined. In support of the ECB ending the €500 note, he slandered Luxembourg who objects to ending the €500 note by saying that this minuscule country has a “long and unsavory tradition of giving comfort to tax evaders, money launderers, and other proponents of bank secrecy.”
This proves that withdrawing the €500 note in Europe and the $100 and $50 bills in the U.S. is all about taxes — not crime or terrorism. They are moving to end money as we know it. The problem is that the $100 bill circulates predominantly OUTSIDE the USA. They will take a step closer to eliminating the dollar as the reserve currency, and eventually we will end up with a new one-world currency as early as 2018 but probably by 2020. This is really part of the 2017 G20 accord to tax everyone everywhere.
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Thank you Mr. Summers for your persistent dedication to eliminating our freedom and converting the world into a giant totalitarian state, despite admitting the government is incapable of forecasting the business cycle. That means that they are too blind to even comprehend the consequences of their actions today.

TIP: Swap your $100 notes in the sock-drawer for $20s. We went from $10,000 to $100 without terrorists or money laundering laws (which now means hiding money from government). Summers will take us down to $1 at best and he wants that gone as well. This guy should be in prison for what he has done to society. He was the cheerleader to get rid of Glass Steagall under the Clintons.
Summers is in the top 10 people who have created the destruction of all our rights and the world economy. The press treat him as royalty. In my book, he is in the class of Adolf Hitler within the Financial arena. Hitler actually began terminating the handicapped because they were a burden to the state. They happened to be veterans from WWI. This is the same attitude of Summers. Eliminate all our rights for his efficient mind to be at peace. What happens when he controls everything, and government is still unable to survive? He will be first among the elite to advocate sending in troops to hunt anyone who dissents from his will. Yes I am being harsh. But this guy has ZERO respect for that cattle he sees out his window any more than Germany terminating veterans because it was a burden to take care of them. Our society which he cannot figure out how it works because he admits it is too “complex” for his mind, never prevents him from trying to manipulate us to his desire. He seems more like a two-year old who get mad they cannot play with a toy and do not like to share. If the economy is too complex to forecast, it is too complex for his manipulation games.

A86